- Market Trends: Bitcoin’s market cycles may extend due to weak ISM manufacturing data. Spot Bitcoin ETFs saw $446 million in inflows, while Ether ETFs experienced a second week of outflows. Some analysts are projecting ETH to hit $10K, while others suggest Bitcoin Treasury firms are now valued less than their BTC holdings.
- Mining Landscape: Mid-tier Bitcoin miners are gaining ground post-halving, intensifying competition.
- Ripple Developments: XRP eyes a rally towards $3.45 driven by strong technical support and Ripple’s institutional expansion. REX-Osprey XRP ETF (XRPR) surpasses $100M in Assets Under Management. Ripple completed the acquisition of Hidden Road, expanding its fintech services and the utility of RLUSD.
- Regulatory & Institutional Adoption: Countries across Africa are approving new crypto laws. Ferrari is launching a digital token to bid on its Le Mans-winning race car. SOL is now available on Fidelity’s retail platform. Crypto.com has applied for an OCC National Trust Bank Charter.
- New Partnerships and Features: Video platform Rumble partnered with Tether to add Bitcoin tips for content creators in December.
- Tax Implications: UK crypto investors may still owe taxes even without receiving a letter from HMRC.
Analysis:
- Institutional Interest Remains Selective: While Bitcoin ETFs are seeing renewed inflows, Ether ETFs are facing outflows, indicating a cautious approach from institutions and a preference for Bitcoin at the moment.
- RWA Tokenization Needs Institutions: The need to build institutions to back tokenized Real World Assets (RWA) is becoming critical for the long-term success of the industry.
- Regulatory Tailwinds in Africa: The proactive approach to crypto regulation in several African countries signals a potential growth hub for crypto adoption, with governments aiming to balance innovation and consumer protection.