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According to CoinMarketCap data, the global crypto market cap is $3.3T, a 0.53% decrease over the last day.Bitcoin (BTC) traded between $92,520 and $96,539 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $94,155, down by 1.84%.Most major cryptocurrencies by market cap are trading mixed. Market outperformers include PHA, ZEN, and BAT, up by 34%, 30%, and 25%, respectively.Top stories of the day:Matrixport: Bitcoin's Sweet Spot for Setting the Stage for a 2025 RallyBinance 2024 Anti-Scam Refund Initiative: $129M in Losses Prevented and $9.1M RecoveredBNB Chain Annual Report: 58% TVL Growth, 17% Unique Addresses Increase, and 67% Drop in Security Losses Define 2024’s SuccessReport: Top 3 Most Popular Crypto Narratives in 2024 - Memecoin, AI, and RWACompass Mining Expands Operations with 25 MW Bitcoin Mining Facility in TexasFederal Reserve Interest Rate Decision Probabilities for January 2024Market Awaits Major Options Expiry Amidst Holiday CalmGrayscale Opens Private Placement for 22 Cryptocurrency TrustsGrayscale Submits 8-K Form for Horizen Trust to SECPhilippines SEC Introduces Comprehensive Crypto Asset RegulationsMarket movers:ETH: $3404.51 (+2.15%)XRP: $2.2397 (+1.62%)BNB: $687.81 (+2.50%)SOL: $192.49 (+4.08%)DOGE: $0.32008 (+1.21%)ADA: $0.9001 (-0.01%)TRX: $0.2518 (+0.88%)AVAX: $38.86 (+4.77%)LINK: $24.2 (+5.08%)TON: $5.654 (+3.48%)

According to CoinMarketCap data, the global crypto market cap is $3.48T, a 2.15% increase over the last day.Bitcoin (BTC) traded between $96,403 and $98,977 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $97,873, up by 1.44%.Most major cryptocurrencies by market cap are trading higher. Market outperformers include BIO, SUSHI, and CETUS, up by 2406%, 20%, and 19%, respectively.Top stories of the day:India Intensifies Efforts Against Crypto Scams With Tech GiantsBitcoin Hashrate Reaches Record High, Nearly Doubling in a YearMicroStrategy Seeks $2 Billion Through Preferred Stock SaleMike Johnson Re-Elected as U.S. House Speaker, Signaling Potential Crypto LegislationU.S. Dominates Bitcoin Network Hashrate with Significant GrowthFederal Reserve's Barkin Optimistic About Economic Growth in 2025Crypto Industry Sees Significant Decline in Hacks for December 2024Stablecoin Issuers Lead Cryptocurrency Revenue in December 2024Tesla to Release Q4 and Full-Year 2024 Financial ResultsU.S. Dollar Poised for Best Weekly Gain Amid Fed Policy ExpectationsMarket movers:ETH: $3593.85 (+4.36%)XRP: $2.4448 (+1.02%)SOL: $216.17 (+2.14%)BNB: $715.3 (+1.88%)DOGE: $0.38606 (+13.53%)ADA: $1.0676 (+0.72%)TRX: $0.2679 (+2.10%)AVAX: $41.63 (+2.61%)SUI: $5.072 (+17.66%)LINK: $23.04 (+3.92%)

According to CoinMarketCap data, the global crypto market cap is $3.3T, a 0.53% decrease over the last day.Bitcoin (BTC) traded between $92,520 and $96,539 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $94,155, down by 1.84%.Most major cryptocurrencies by market cap are trading mixed. Market outperformers include PHA, ZEN, and BAT, up by 34%, 30%, and 25%, respectively.Top stories of the day:Matrixport: Bitcoin's Sweet Spot for Setting the Stage for a 2025 RallyBinance 2024 Anti-Scam Refund Initiative: $129M in Losses Prevented and $9.1M RecoveredBNB Chain Annual Report: 58% TVL Growth, 17% Unique Addresses Increase, and 67% Drop in Security Losses Define 2024’s SuccessReport: Top 3 Most Popular Crypto Narratives in 2024 - Memecoin, AI, and RWACompass Mining Expands Operations with 25 MW Bitcoin Mining Facility in TexasFederal Reserve Interest Rate Decision Probabilities for January 2024Market Awaits Major Options Expiry Amidst Holiday CalmGrayscale Opens Private Placement for 22 Cryptocurrency TrustsGrayscale Submits 8-K Form for Horizen Trust to SECPhilippines SEC Introduces Comprehensive Crypto Asset RegulationsMarket movers:ETH: $3404.51 (+2.15%)XRP: $2.2397 (+1.62%)BNB: $687.81 (+2.50%)SOL: $192.49 (+4.08%)DOGE: $0.32008 (+1.21%)ADA: $0.9001 (-0.01%)TRX: $0.2518 (+0.88%)AVAX: $38.86 (+4.77%)LINK: $24.2 (+5.08%)TON: $5.654 (+3.48%)

20 December 2024Macro/TradFiMicroStrategy continued their streak of weekly buying, picking up US$1.5B of BTC to bring their total holdings to 439,000 BTC (worth ~US$47B). MSTR stock is set to join the Nasdaq-100 index on Dec 23, which is set to create automated ETF-driven buying for it. This follows a ~500% year-to-date rally in the stock already. The U.S. Federal Reserve cut interest rates by 25bps, bringing the Fed Funds target rate range down to 4.25 - 4.5%. U.S. rates are now down by 1% since the Fed conducted their first cut in September. The Fed indicated a slower, more gradual pace of cuts in 2025. The U.S. SEC has approved the dual Bitcoin and Ethereum ETFs from Hashdex and Franklin Templeton. Osprey Funds launched the Osprey BNB Chain Trust, the first U.S. publicly quoted fund based on the BNB token. CryptoL1/L2:Avalanche has released its largest-ever update, Avalanche9000. Key features include lower transaction fees and simplified Avalanche L1 launches. Avalanche L1s, formerly referred to as subnets, are additional sovereign blockchains launched within the Avalanche ecosystem. This update comes after a recent US$250M locked token sale. Sonic Labs announced the launch of Sonic mainnet, their new EVM-compatible L1. Sonic is the new project of the Fantom team and users can upgrade their FTM to S on a one-to-one basis. Sonic features Fee Monetization, which rewards devs with up to 90% of the network fees generated by their applications. NFT:PENGU, the native token of the Pudgy Penguins ecosystem, launched and was airdropped to over 780K addresses. The NFT collection, which is the third largest in the market, had seen its floor price increase to its all-time high of nearly 35 ETH before falling back to ~17 ETH following the airdrop. The founder of 5th-ranked NFT collection, Doodles, hinted at a token in a tweet later in the week, which has caused the floor price of the NFT collection to pump over 60% this week. Stablecoins:Ethena, the team behind the USDe stablecoin, launched their second stablecoin, called USDtb. While USDe is a yield-generating synthetic dollar created through a financial strategy, USDtb is more akin to traditional stablecoins and is majority backed by BlackRock & Securitize’s tokenized money market fund, BUIDL. Ripple launched their long-anticipated RLUSD stablecoin, although CEX integrations have been extremely limited. RLUSD is currently trading with a ~US$55M market cap. Others:Plume Network, an RWA-focused tokenization platform, raised US$20M in a Series A round. Plume is building an EVM-compatible L1 to trade RWA assets, expected to release in 2025. The firm behind the leading AI agent framework (Eliza), ai16z DAO, and the ai16z token, Eliza Labs, has announced a partnership with Stanford University. The partnership will be focused on research to explore how autonomous AI agents will transform DeFi. Latest Binance Research Publications Check out our latest publications:The ETH Value DebateMonthly Market Insights - December 2024The Fed, Interest Rates, and the Economy: A PrimerExplore our Binance Research website for more project and macro research.For more frequent market updates and insights, follow us on Twitter @BinanceResearch.That’s a wrap!Binance ResearchAbout Binance Research: Binance Research is the research arm of Binance, the world's leading cryptocurrency exchange. The team is committed to delivering objective, independent, and comprehensive analysis and aims to be the thought leader in the crypto space. Our analysts publish insightful thought pieces regularly on topics related but not limited to, the crypto ecosystem, blockchain technologies, and the latest market themes.General Disclosure: This material is prepared by Binance Research and is not intended to be relied upon as a forecast or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities, cryptocurrencies or to adopt any investment strategy. The use of terminology and the views expressed are intended to promote understanding and the responsible development of the sector and should not be interpreted as definitive legal views or those of Binance. The opinions expressed are as of the date shown above and are the opinions of the writer, they may change as subsequent conditions vary. 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