During Friday’s U.S. market session, the crypto market experienced a slight relief rally from the prevailing correction trend…
As $1.2 billion gets evaporated from the market, numerous assets are in danger
PRESS RELEASE. SINGAPORE, December 20, 2024 – LBank, a leading global cryptocurrency exchange, announces its New Year Celebration with a massive prize pool of over 200,000 USDT, set to boost market accessibility and reinforce its dedication to quality crypto trading. This 200,000+ USDT prize pool celebration runs until December 31, and consists of three exciting
Bitcoin faces increased selling pressure but retains the potential to rally to a $108,500 target if market sentiment improves.
Binance Futures to Launch USD-Margined AIXBT, FARTCOIN, KMNO, and CGPT USDT Perpetual Contracts with Up to 75x Leverage ————— 💰Coin: CGPT ( $CGPT ) $0.2208 ————— NFA.
Quantum BioPharma (QNTM), a biopharmaceutical company, has become the latest publicly traded firm to incorporate cryptocurrencies into its treasury strategy. On Dec. 20, the company announced a $1 million investment in Bitcoin and other cryptocurrencies. Following the disclosure, QNTM’s shares on the Nasdaq dropped nearly 10%. Quantum BioPharma, also listed on the Canadian Securities Exchange and Frankfurt Stock Exchange, specializes in biotech solutions for treating neurodegenerative diseases, metabolic syndromes, and alcohol misuse disorders. “The company is now set up to receive financing in cryptocurrencies as well as executing other types of transactions in cryptocurrencies,” Quantum stated, though it did not reveal the specific tokens in its portfolio. More non-crypto businesses are embracing digital assets to diversify their holdings and hedge against inflation. In November, the U.S. Consumer Price Index (CPI) rose 2.7% year-over-year, with a 0.3% monthly increase, marking the sharpest rise in seven months. Jiva Technologies, a wellness e-commerce firm, approved a plan to invest up to $1 million in Bitcoin last month, citing its inflation-resistant qualities. Similarly, video-sharing platform Rumble allocated $20 million of its cash reserves to Bitcoin in late November. Hoth Therapeutics, another biopharmaceutical company, added $1 million in Bitcoin to its treasury on Nov. 20. MicroStrategy, which adopted this strategy in 2020, remains the largest corporate Bitcoin holder with 439,000 BTC as of December 2024. Think Tank Advocates Bitcoin Adoption The National Center for Public Policy Research, a Washington, D.C.-based think tank, has pushed major corporations like Amazon and Microsoft to adopt Bitcoin treasury strategies. Microsoft shareholders voted against the proposal during a Dec. 10 meeting, calling it “unnecessary.” Amazon’s shareholders are set to review the proposal in April 2025. The think tank plans additional Bitcoin-related proposals for 2025, aligning its efforts with a “pro-freedom” agenda.
Tai Mo Shan Ltd., part of Jump Trading’s crypto unit, agreed to pay $123 million to settle a US regulator’s claims it misled investors about the stability of the TerraUSD algorithmic stablecoin.
Santa Rides Shiba could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Santa Rides Shiba (SANTSHIB), a new Solana memecoin that was launched today, is set to explode over 19,000% in price in the coming days. This is because SANTSHIB is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Santa Rides Shiba can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days. Early investors in SHIB and DOGE made astronomical returns, and Santa Rides Shiba could become the next viral memecoin. Santa Rides Shiba launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains. How to Buy To buy Santa Rides Shiba on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Santa Rides Shiba by entering its contract address – CxpeR8vdgeVWZFwBytS7PRrXHBwVgPJWZBJUcpK3k7vT – in the receiving field. If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others. In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price. If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner. The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum. This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like SANTSHIB. Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Concerns surrounding MicroStrategy’s Bitcoin strategy and debt obligations have been labeled as exaggerated by Anthony Scaramucci, founder of SkyBridge Capital. Speaking in an interview, Scaramucci dismissed the fears of a financial collapse tied to MicroStrategy’s substantial Bitcoin holdings and debt structure, explaining that only a prolonged and systemic Bitcoin crash spanning several years would destabilize the company. Long-Term Debt Structure Shields MicroStrategy MicroStrategy’s financial strategy has attracted attention due to its aggressive Bitcoin acquisitions , funded largely through convertible debt and equity sales. The company currently holds $46.02 billion worth of Bitcoin, with an unrealized profit of $18.9 billion. Critics argue that Bitcoin price volatility could jeopardize MicroStrategy’s ability to service its debt, potentially leading to forced Bitcoin sales and market disruptions. However, Anthony Scaramucci emphasized that MicroStrategy’s debt is structured for the long term, reducing the risk of immediate financial distress. “If you really study his balance sheet, he has long, long-term debt, and he has rolling long-term debt,” Scaramucci said, referring to Michael Saylor, MicroStrategy’s executive chairman. He added that a systemic Bitcoin crash would need to last six or seven years to pose a significant threat to the company’s financial stability. Market Concerns About Bitcoin Price Volatility MicroStrategy’s reliance on Bitcoin as a corporate asset has fueled skepticism among investors. The company’s shares have soared by over 400% this year, driven by Bitcoin’s record-breaking price surges. However, Bitcoin price has recently retreated from its all-time high of $108,000, leading to renewed concerns about MicroStrategy’s exposure to market volatility. Despite this, Anthony Scaramucci believes fears of forced Bitcoin sales are unfounded. “The narrative of him being forced to sell hundreds of thousands of tokens into the market, I think it’s a forced narrative,” he said. Scaramucci attributed this confidence to his Wall Street experience, adding that MicroStrategy’s debt structure is fundamentally different from situations like the 2008 collapse of Lehman Brothers. MicroStrategy Temporary Halt to Bitcoin Purchases Rumors have surfaced that MicroStrategy may pause Bitcoin acquisitions in January due to potential blackout restrictions on share or convertible debt issuance. Such blackout periods are common for publicly traded companies, often imposed around fiscal quarter closings to comply with insider trading regulations. Speculation suggests that the restrictions could prevent Michael Saylor from issuing convertible debt to finance additional Bitcoin purchases. However, analysts believe the potential pause would have limited impact, given the company’s substantial existing Bitcoin holdings and its history of regulatory compliance. MicroStrategy’s next earnings report is expected between February 3 and 5, 2025, with analysts predicting that any blackout period would span January or begin mid-month. The company’s inclusion in the NASDAQ 100 index on December 23 has also raised theories that internal recommendations may have prompted this move. Bitcoin Outlook Remains Positive While Bitcoin’s recent price retreat has sparked concerns, Anthony Scaramucci remains optimistic about the cryptocurrency’s long-term potential. He acknowledged that Bitcoin could experience corrections of 30% to 40% next year, possibly dropping to $60,000–$70,000. However, he highlighted factors such as the introduction of Bitcoin exchange-traded funds (ETFs) and potential favorable legislation that could support Bitcoin’s price stability. “Could it get to $18 trillion dollars in market cap? We believe that it could,” Scaramucci said, while cautioning that the path to such a valuation would not be linear. He also noted that Bitcoin’s growing adoption and institutional interest could continue driving its appreciation over time. The post MicroStrategy Debt Safe Unless Bitcoin Collapses for Seven Years: Scaramucci appeared first on CoinGape .
The bear market was in full swing at the start of the year, and Arbitrum’s ARB suffered like many altcoins price-wise as the risk appetite dried up and some investors were shaken out. Despite that, 2024 still ended up as a win for the ARB ecosystem . Not only did it become the third-largest blockchain by stablecoin capitalization, it also achieved over $100M in Real World Assets (RWA) tokenization. RWA, stablecoin liquidity, and everything that went right for Arbitrum In 2024 Arbitrum’s stablecoin market cap significantly increased this year, thanks to the enabling environment the blockchain provides. According to reports , Arbitrum added almost $1 billion to its stablecoin market cap between November and this month, positioning it ahead of blockchains like Binance Smart Chain and Solana. As of December 20, Arbitrum has a stablecoin market cap of approximately $6.75 billion and is on track to surpass $7 billion in total value locked. When stablecoin market cap grows on a blockchain as it has on Arbitrum, it typically signals liquidity stacking ahead of activity on the network. There was also a noticeable uptick in the tokenization of RWAs on Arbitrum . At the start of this year, it had less than $100k in tokenized assets, but that stat has steadily grown to around $85 million as of mid-December. Major contributors to this growth include major asset managers like Franklin Templeton and BlackRock,, who deployed tokenized Money Market Funds on the platform. 99% of these tokenized assets are US Treasuries, which is unsurprising as tokenized equities and equity indices have always been a niche sector, with a combined AUM of merely $800k. Investors can access stocks and indices on Arbitrum, such as SPY, TSLA, AAPL, NVDA, and COIN. While a majority of those assets are held by externally-owned accounts, the Arbitrum DAO treasury holds 18.4% of the chain’s RWAs, and 10.1% reside in DEX liquidity pools. Why is the Arbitrum DAO holding so much in RWAs? The goal is to create an alternative revenue stream with a different risk profile than ETH and ARB. Ecosystem development and community engagement Arbitrum’s ecosystem recorded significant growth across various parameters. The network’s TVL (Total Value Locked) hit $20 billion, proof of its capacity to scale and innovate. This is thanks to developments like the support for USDC as a gas token for Orbit chains, which facilitated broader adoption and new use cases for onboarding retailers into Web3. Another area that made Arbitrum more enticing to whales is its profitability for liquidity providers. It attracted more users and devs thanks to its shorter block times, which many have lauded. As it stands, Arbitrum One boasts an average block time of 250 milliseconds. However, with Arbitrum Orbit, block times can be configured to go as low as 100 milliseconds if transactions arrive that quickly. The efficiency contributed immensely to the competitive edge the blockchain now has over other blockchains, including Ethereum, which has an average block time of around 12 seconds. Arbitrum stuck around during the bear market, and unsurprisingly, the ecosystem’s community and developer activity have rewarded it with their support. Showcases of its active user base include surpassing a billion transactions on Arbitrum One and the 1 million Stylus NFTs mint milestone. Despite the already strong RWA growth on the chain this year, there’s still significant room for expansion. As it stands, 99% of RWAs on Arbitrum are US Treasuries , which means other industries like real estate are yet to be represented and could be the next in line. Real estate can offer higher yields and tangible value. There has always been global demand for premium properties, which makes it an untapped market with massive potential. Arbitrum’s low fees and scalability make it the ideal ecosystem for RWAs in crypto, and if it intersects with other use cases, it could be set for another great year in 2025. From Zero to Web3 Pro: Your 90-Day Career Launch Plan