1. Bitwise Introduces Bitcoin Standard ETF for Holding BTC
Bitwise has launched a Bitcoin Standard Company ETF, targeting companies that own more than 1,000 BTC. It stands out because it looks for companies based on their bitcoin reserves rather than on their market capitalization, which reflects the trend of corporate bitcoin adoption. This move underscores institutional interest in Bitcoin as a reserve asset for treasuries. At the time of writing, Bitcoin was trading at $95,621.59, adding heft to Bitwise’s position as a leader in the crypto asset management space.
2. Crypto Market Faces Downward Pressure Ahead of “Santa Rally”
The crypto market is having trouble keeping up the pace ahead of the holiday season as the total market cap has settled at $3.33 trillion.
Key Developments:
- Bitcoin fell to about $95,200.
- Ethereum is stuck around $3,500.
- Fear & Greed Index declined from “Extreme Greed” to “Greed,” which indicates weakening investor interest.
- A significant Bitcoin options expiry of $14.27 billion will occur soon.
Investors are taking a cautious approach due to profit-taking, macroeconomic issues, and regulatory pressures. The market is waiting for a potential “Santa Rally”, but uncertainty remains.
3. South Korea Sanctions 15 North Koreans for Crypto Thefts
In a major development, South Korea has imposed sanctions on 15 North Korean IT professionals and one related group. The individuals were involved in cybercrimes that funded North Korea’s nuclear weapons program, allegedly securing funds through crypto thefts.
Key Points:
- North Korean hackers are blamed for over 50% of the $2.3 billion stolen in 2024, a 40% increase from the previous year.
- The sanctions are a reflection of the ongoing geopolitical tensions and the growing role of cybercrime in funding illicit activities.
4. BONK Drops 7% Despite $51M Token Burn Event
BONK, a dog-themed memecoin, fell by 7% despite a major $51 million token burn event. The “BURNmas” event saw the burning of 1.69 trillion BONK tokens, which accounts for 1.85% of its total supply, in an attempt to push up the price.
While previous burns had worked, this one failed to induce a price rally, amid broader market declines and a delay in execution. BONK is still the fourth-largest memecoin with a market cap of $2.3 billion, following Dogecoin, Shiba Inu, and Pepe.
5. Nodepay Raises $7M in Funding; Listing Ahead
Nodepay, a blockchain payment platform, has secured funding worth $7 million. The platform is also holding an airdrop of its native $NC token, which is expected to be $1.5-$3 per token.
People can participate in the airdrop by completing a series of steps, including Proof of Humanity. The funding will accelerate the development of the platform, increase the value of the token, and support global expansion.
Conclusion
The crypto market is a place with major developments and challenges; while Bitwise’s ETF launching means there is rising interest in institutional investment in Bitcoin, volatility and uncertainty characterise the broader market. South Korea’s sanctions highlight an increase in cybercrime activity within the crypto space. Finally, BONK’s token burn highlights the unpredictability of memecoin price movements while Nodepay’s funding paves the way for new blockchain innovation and opportunities.
Also Check:
- Crypto News Today: Latest Market Updates and Breakthroughs
- Why Bitcoin Is Falling: Main Causes of the $BTC Price Drop
- Launch of SEED Token & NFT Collection on Sui
- Toma Airdrops Update: Claim Your Treasure Hunt Rewards by December 28
- NodePay Airdrop: Get Your Free $NC Tokens Before It’s Too Late!