FameEX Morning Crypto News Recap | December 3, 2024

U.S. Investors Contribute Over $6.4 Billion to Bitcoin Spot ETFs in November

In November, U.S. investors poured over $6.4 billion into Bitcoin spot ETFs, with BlackRock’s iShares Bitcoin Trust ETF attracting $5.6 billion. Bitcoin’s price surged by 45%, surpassing $99,000. The Crypto Fear and Greed Index reached a yearly high of 92, signaling heightened bullish sentiment in the market.

Bitcoin’s Illiquid Supply Reaches Record Level, Now Comprising Nearly 75% of Total Supply

André Dragosch, Bitwise's head of European research, announced on December 2 that Bitcoin's illiquid supply hit a record high, with nearly 75% of its total supply deemed illiquid. Additionally, less than 14% of Bitcoin remains on exchanges, exacerbating its supply scarcity.

Global NFT Market Capitalization Surges to $8.791 Billion, 24-Hour Trading Volume Up 46.5%

On December 2nd, CoinGecko reported that the global NFT market capitalization surged to $8.791 billion, up 17% within 24 hours. The 24-hour trading volume also reached $59.07 million, marking a 46.5% increase from the previous month.

Stablecoin and Fiat Pairs Drive Growth in Altcoin Trading Volume

CryptoQuant CEO Ki Young Ju noted that the current altcoin season is driven by stablecoin and fiat trading pairs, rather than Bitcoin asset rotation. This growth reflects true market expansion, marking a shift from previous cycles where Bitcoin-led asset rotation was the primary factor behind altcoin activity.

MicroStrategy Invests $1.5 Billion to Buy 15,400 Bitcoins, Growing Total Holdings to 402,100 BTC

MicroStrategy’s co-founder Michael Saylor revealed the company invested $1.5 billion to acquire 15,400 Bitcoins at $95,976 each. This investment delivered a 38.7% quarterly return and a 63.3% annual return, showcasing the success of MicroStrategy’s Bitcoin-focused strategy.

South Korea’s FSS Expands Price Manipulation Investigation to Target Individual Investors

Six months after enacting South Korea's Virtual Asset User Protection Act, the Financial Services Commission (FSS) broadened its price manipulation investigations to include individual investors. One case involved an investor investigated for suspected manipulation through frequent short-term trading on major exchanges.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.​