Plus: Vitalik's heartwarming end to 2024
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GM. Christmas may be over, but the Daily Squeeze is here to press the juicy leftovers of blockchain news into one more glass of holiday spirit.
📝 Latest filings: Strive's Bitcoin Bond ETF, Bitwise's Bitcoin Standard Corporations ETF, and Floki's ETP.
🦛 Vitalik Buterin adopts Moo Deng.
🎄 Holly jolly headlines: South Korea sanctions hackers linked to North Korea, Do Kwon's extradition appeal gets rejected + more
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🛷 Market cheer today
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| Crypto Market Cap: $3.33T -0.7% (24H) | ||||
| Name | Price | 24H | 7D | |
|---|---|---|---|---|
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Bitcoin BTC | $94,605.35 | -1.13% | -2.74% |
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Ethereum ETH | $3,323.42 | -0.25% | -1.62% |
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XRP XRP | $2.13 | -1.67% | -3.76% |
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BNB BNB | $689.18 | -0.39% | 3.51% |
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Solana SOL | $183.88 | -2.64% | -3.15% |
| Prices as of 11:00 EST. Click here to see live data. |
Holiday calm? Nah, the crypto market has been as chill as a snowstorm ❄️
The Fear and Greed Index remains in Greed at 74, while Bitcoin spent the holidays bouncing between $93K and $99K, but it just couldn't crack past $100K.
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CryptoQuant contributor Burrakesmeci pointed out that Binance's Bitcoin Taker Buy Volume has hit $8.3B. Simply put, this measures how much Bitcoin is being bought at current market prices on Binance. Higher taker buy volume often signals growing demand - and the rising buying pressure could mean Bitcoin prices may climb soon.
Some traders are also talking about similarities to a pattern observed in December 2023, when Bitcoin rallied nearly 90% in just three months. While no one can guarantee a repeat performance, it's definitely a conversation starter.
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But it's not all good news. Bitcoin ETFs are struggling rn, with four straight days of net outflows totaling $1.51B.
On the flip side, Ethereum ETFs caught a surprise W. Over the last two days, they've outperformed Bitcoin, bringing $53.6M in inflows on Tuesday alone.
Snowstorms and markets - they both leave trails, but figuring out where they lead? That's the real adventure 🌬️
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🔔 Jingle gains
Forget the Christmas bonuses - these memecoins gave some wallets the real post-holiday miracle ✨
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24H Change |
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Quantum Gospel QOAT |
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ASSCOIN ASSCOIN |
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SPORE SPORE |
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SwarmNode.ai SNAI |
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Check out these memecoins and plenty more here.
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✨ From ho ho ho to whoa
Unwrapping gifts? Over. Wrapping your head around these ETF filings? Just getting started, baby 😎
Check out wtf's been going on in ETF land:
1/ Bitcoin Bond ETF
Strive Asset Management filed for a Bitcoin Bond ETF, which would invest in convertible bonds from Bitcoin-focused companies like MicroStrategy.
Convertible bonds are like loans with benefits - you lend the company money, and later, you can swap that loan for their stock. MicroStrategy takes that cash and buys Bitcoin, so investing in these bonds is like doubling down on both the company and BTC.
Right now, those bonds are for accredited investors only. But if this ETF gets approved, you could invest without needing a yacht or a trust fund.
2/ Bitcoin Standard Corporations ETF
Bitwise cooked up the Bitcoin Standard Corporations ETF - this one invests in companies that hold at least 1K BTC.
This fund would rank companies based on the value of their Bitcoin holdings. For example, MicroStrategy, which holds over 444K BTC, would carry much more weight in the ETF than Tesla, which holds under 10K BTC, despite Tesla's much larger market cap.
Plus, no single company could make up more than 25% of the ETF's value, ensuring the portfolio stays diversified.
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3/ Floki's ETP
Even memecoins are getting in on the action: Floki DAO has proposed launching an ETP in Europe, so that institutional investors can dive in.
The plan involves allocating 16B FLOKI (worth about $2.8M) from Floki DAO's treasury to fund the ETP.
If all goes well, they're dropping this bad boy on Switzerland's SIX Exchange in early Q1 2025.
TL;DR: forget post-holiday blues - it's time to get bullish 🐂
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❤️ No ATH, all heart
In some cultures, they say you gotta do good deeds before New Year's to end the year on a positive note and set a good tone for the year ahead.
Vitalik Buterin might've also gotten the memo (maybe to make up for no ETH ATHs this year?!)
The Ethereum co-founder adopted Moo Deng - the superstar pygmy hippo at Thailand's Khao Kheow Open Zoo - for the next two years.
Not stopping there, he also donated 10M Thai baht (roughly $293K) to make sure Moo Deng and her family get the royal treatment.
Truly inspiring 🥹
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🎄 Holly jolly headlines
😈 While we were worried about the Grinch stealing Christmas, governments were busy hunting down North Korean hackers for stealing crypto. South Korea joined the chase by slapping sanctions on 15 people and one organization.
✈️ Looks like Do Kwon's holiday wish didn't come true - a Montenegro court rejected his extradition appeal. They called his legal arguments inconsistent, basically saying, "Nice try, but pack your bags."
🇷🇺 Russia approved using digital assets like Bitcoin for foreign trade. Finance Minister Anton Siluanov says it's all part of their new experimental rules.
💸 Solana staking pool Jito made it rain this holiday season - over $100M in priority fees and tips in November and December. Validators crushed it in 2024, scaling revenues by 32% on average each month.
🎁 Ryan Salame got a late gift - his prison sentence got reduced by a year. Now set for release in March 2031, the former FTX exec originally faced a 7.5-year sentence with an April 2032 end date.
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🎅 Santa's meme workshop
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