FameEX Morning Crypto News Recap | December 3, 2024

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

U.S. investors invested over $6.4 billion into Bitcoin spot ETFs in November, with BlackRock’s iShares Bitcoin Trust ETF attracting $5.6 billion. Bitcoin’s price surged 45%, breaking $99,000. The Crypto Fear and Greed Index hit a yearly high of 92, reflecting strong bullish sentiment in the market.

Bitcoin’s Illiquid Supply Hits Record High, Representing Nearly 75% of Total Supply

André Dragosch, head of European research at Bitwise, stated on December 2 that Bitcoin’s illiquid supply has reached a record high, with nearly 75% of its supply now considered illiquid. Additionally, less than 14% of Bitcoin remains available on exchanges, further increasing its supply scarcity.

Global NFT Market Cap Hits $8.791 Billion, 24-Hour Trading Volume Rises 46.5%

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

Altcoin Trading Volume Growth Fueled by Stablecoin and Fiat Pairs

CryptoQuant CEO Ki Young Ju highlighted that the ongoing altcoin season is no longer characterized by Bitcoin asset rotation. Instead, the growth in altcoin trading volume is fueled by stablecoin and fiat trading pairs, indicating genuine market growth rather than a mere shift of assets from Bitcoin.

MicroStrategy Allocates $1.5 Billion to Acquire 15,400 Bitcoins, Expanding Total Holdings to 402,100 Bitcoins

Michael Saylor, MicroStrategy’s co-founder, announced the company invested $1.5 billion to purchase 15,400 Bitcoins at $95,976 each. The investment yielded a quarterly return of 38.7% and an annual return of 63.3%, reflecting strong performance for the firm’s Bitcoin strategy.

South Korea's FSS Broadens Price Manipulation Investigation to Include Individual Investors

Six months after implementing South Korea's Virtual Asset User Protection Act, the Financial Services Commission (FSS) expanded its price manipulation investigation to individual investors. A recent case involved an investor suspected of manipulation due to frequent short-term trading on major exchanges, leading to an FSS inquiry.

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