According to Akshat Siddhant, lead quant analyst at Mudrex, the crypto market is demonstrating strong resilience. “Renewed whale accumulation is a driving factor, with ETH whales acquiring over 450,000 ETH since mid-November. BTC whales are exhibiting similar behavior,” Siddhant noted.

Bitcoin Price Influences Market Dynamics

The robust US labor market contributes to a 93% probability of a rate cut this month, which in turn applies buying pressure on Bitcoin. Analysts suggest that a decisive move above $96,000 could accelerate Bitcoin’s momentum towards the $100,000 threshold, paving the way for new highs.

Market Snapshot:

Bitcoin: $92,387, down 1.2%

Ether: $3,174, down 1.1%

XRP: $2.09, down 4.6%

Total crypto market cap: $3.22 trillion, down 1.3%

Impact of Japan’s Economic Data on Asian Markets

Japan’s Nikkei 225 fell approximately 1.5%, erasing weekly gains, as regional equities recoiled from weak spending figures. New data reveals that household expenditure in Japan has declined at the fastest rate in nearly two years due to inflation concerns.

The yield on Japan’s 10-year government bonds reached 1.94%, the highest since mid-2007, anticipating a weekly rise of 13.5 basis points, driven by solid demand from recent auctions.

Chinese markets displayed mixed results; the Shanghai Composite hovered around 3,875, down 0.02%, while the SZSE Component in Shenzhen increased by 0.17%. The China A50 index dropped 0.17%, DJ Shanghai edged up 0.12%, and Hong Kong’s Hang Seng fell by 0.40%.

European and US Markets React to Mixed Data

Across Europe, market futures indicated a slightly positive tone. DAX futures were near 23,880, up by 0.79%, while FTSE 100 futures gained 0.19%. CAC 40 futures rose by 0.43% and Euro Stoxx 50 futures added 0.41%.

In the US, stock futures presented mixed signals after Wall Street indices closed nearly unchanged on Thursday. Dow futures hovered around 47,850, down 0.07%, while S&P 500 futures increased by 0.11% and Nasdaq futures rose by 0.22%.

Traders are currently evaluating a series of US data releases. The Labor Department reported a drop in initial jobless claims to their lowest level in over three years, though analysts caution that the Thanksgiving holiday may have influenced these figures.

A delayed report from the Commerce Department showed factory orders up by 0.2%, below expectations of a 0.5% increase. Meanwhile, the critical non-farm payrolls report will be postponed until after the Federal Reserve’s December meeting due to a government shutdown.

With Fed funds futures indicating a near 90% likelihood of a 25-basis point rate cut next Wednesday, analysts describe the impending meeting as one of the most pivotal in recent years.

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Robinhood gave out $5 worth of OpenAI and SpaceX tokens to its clients in the EU on Monday. This move is part of the company’s strategy to delve into tokenized stock trading, including the launch of a layer-2 blockchain network for settling equity trades represented by tokens. Robinhood’s representatives told Cointelegraph that these token giveaways were strictly for “eligible European customers.”

They added, “These tokens offer retail investors indirect exposure to private markets, thereby increasing accessibility. This is made possible by Robinhood’s ownership stake in a special purpose vehicle.” Elon Musk, SpaceX and OpenAI co-founder, seized this chance to criticize OpenAI’s corporate structure. “Your ‘equity’ is fake,” Musk claimed in a post. Musk, who left OpenAI’s board in 2018, has consistently expressed his discontent over what he perceives as the organization’s shift from a mission-driven non-profit to a profit-first model.

Robinhood hinted at its plans to introduce tokenized stock trading for European customers in May 2025, without specifying a date or timeline for a US launch. Johann Kerbrat, senior vice president and general manager of Robinhood Crypto, stated at Consensus 2025 in Toronto, Canada, that integrating tokenized real-world assets on the platform aids in promoting financial inclusion.

Robinhood’s venture into tokenized equities is part of the larger efforts by crypto exchanges to incorporate tokenized stocks, government securities, corporate bonds, and other traditional assets into their platforms, thus bridging the gap between traditional and digital finance. Robinhood contends that tokenization provides public access to previously exclusive asset classes like private equity, private credit, and commercial real estate investment via asset fractionalization.

The company announced the debut of its layer-2 blockchain network and tokenized real-world asset trading during the company’s event in Cannes, France on Monday. “Crypto is much more than a speculative asset. It has the potential to become the backbone of the global financial system,” said Vlad Tenev, CEO and co-founder.

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The company stated it made an agreement to sell up to $250 million in newly issued shares to finance its Bitcoin acquisition strategy. However, the announcement also clarified that there’s no compulsion for the company to utilize the facility. It also has control over the timing and amount of any drawdown, suggesting no coins were bought at the time of the announcement.

Fold follows in the footsteps of other crypto corporate treasury firms like 21 Capital and Nakamoto. These firms, taking inspiration from Michael Saylor’s BTC acquisition vehicle, Strategy, are fueling their purchases through private placements. This move effectively transforms Fold’s stock into a leveraged bet on Bitcoin’s price.

Founded in 2019, Fold started as a wallet company but has since broadened its services to include more financial products. These include the Fold Card – a debit card providing Bitcoin cashback rewards – and a Bitcoin treasury strategy. Fold has undertaken at least one other convertible note agreement to acquire 475 BTC.

As per Bitcoin Treasuries, Fold currently holds roughly 1,488 BTC, valued at approximately $157.23 million. This makes it one of the larger publicly traded Bitcoin treasury firms. Fold made its public debut in 2024 through a SPAC merger with FTAC Emerald Acquisition Corp., traded on Nasdaq. It held around 1,000 BTC at the time of its pre-money valuation of $365 million.

On Tuesday, FLD was trading at $4.71, a slight increase of 0.43% from around $4.31 at market open.

The post Fold Holdings Secures $250M Facility for BTC Treasury Expansion appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

The firm’s crypto trading volume experienced a colossal 400% year-on-year growth, reaching a staggering $70 billion. This is in contrast to the year’s earlier quarters where trading volumes had dipped to $36 billion in Q1, $21.5 billion in Q2, and $14.4 billion in Q3. Equity trading volume also saw a significant increase, with a 154% rise to $423 billion.

Robinhood’s revenue from transactions skyrocketed by 200% from the previous year to $672 million. This was majorly driven by crypto trading, which contributed $358 million (a 700% increase) and equities which added $61 million (a 144% increase). The company also expanded its crypto asset offerings in the U.S. by seven and introduced Ethereum staking in the EU during Q4.

In a statement in December, Robinhood CEO Vlad Tenev disclosed that although the firm had considered holding Bitcoin, there were no immediate plans to maintain a BTC reserve. However, the company hinted at introducing futures trading for Bitcoin, oil, and gold in the upcoming month.

Assets under the company’s management (AUM) surged 88% year-on-year to $193 billion, driven by continuous net deposits and heightened valuations of stocks and cryptocurrencies. The AUM represents the total value of all equities, options, cryptocurrencies, and cash in user accounts, minus any dues from users.

Robinhood reported Q4 diluted earnings of $1.01 per share, a significant jump from last year’s $0.03 per share. The company’s quarterly revenue came in at $1.01 billion, slightly above the anticipated $944 million.

CEO Vlad Tenev reflected on the company’s achievements and plans in a press release, stating, “In 2024, we accelerated product development with a new platform for active traders, the launch of Gold Card, an extended UK and EU product suite, and much more. We envisage a massive opportunity ahead as we strive to empower anyone, anywhere, to buy, sell, or hold any financial asset and perform any financial transaction through Robinhood.”

In an op-ed for the Washington Post in January, Tenev urged the SEC to establish clear rules for tokenizing equity in early-stage startups. “The U.S. is finally taking crypto seriously,” he stated. “It’s time to further expand our understanding of what’s possible.”

The post Robinhood Sees a 400% Spike in Crypto Trading Volume, Totalling $70 Billion in Q4 appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

On January 23, THORChain suspended its THORFi services such as the “Savers and Lending” programs due to financial instability. A 90-day restructuring plan was set in motion to mitigate the issues arising from the unsustainable debt accumulated in these services.

The community-backed plan involves the conversion of debt into equity, more specifically into a newly introduced token named TCY (Thorchain Yield) with a total supply of 200 million units. This implies that lenders and savers will be compensated with TCY tokens instead of bitcoin or ether, effectively transforming their debt claims into equity within the Thorchain ecosystem.

TCY holders will be entitled to a perpetual 10% share of Thorchain’s revenue. “THORChain will convert ~$200M of debt into equity through a new token that will receive 10% of network revenue in perpetuity,” stated the THORChain team.

As per the proposal, 200 million TCY tokens will be minted and distributed at a rate of 1 TCY per dollar of defaulted debt. The core team plans to establish a RUNE/TCY liquidity pool with $500,000 liquidity at $0.1 per TCY, backed by the $5 million from the treasury. This implies that for those with funds in Thorchain’s lending and savings programs (ThorFi), their assets will be converted into TCY rather than being repaid in the original asset. However, the timeline for recovery remains uncertain.

Despite the restructuring initiatives and proposal 6, RUNE’s price plunged an additional 35% over the past week amidst a broader altcoin sell-off, dropping from $2 to $1.3, according to The Block’s price page. The token has lost more than 70% of its value in the past 30 days. Despite these challenges, the network managed to maintain swap volume, processing $270 million in the last 24 hours.

Disclaimer: The Block is an independent media outlet that provides news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. This article is for informational purposes only and should not be taken as financial, legal, tax, or investment advice.

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