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It noted that this was “primarily due to the digital assets value-added gain generated from the cryptocurrencies held by the group,” and the group’s holding of certain online operation activities and the continuous optimization of its gaming products.
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Will Cole, a Bitcoin advocate and head of product at Zaprite, called the memecoin “pump-and-dump-as-a-service. Wealth transfer from Gen Z and Millennials to Boomers. Brought to you by Ethereum and Solana.”
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Pierre Rochard, vice president of research at Riot Platforms, emphasized Bitcoin’s design as fundamentally different.
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Brandon Quittem, vice president of revenue at Swan Bitcoin, posted on X, “Trump coin is such an extreme case of shitcoinery it will ultimately help differentiate Bitcoin further. Trumpcoin is a get-rich-quick scheme, it’s nothing like Bitcoin.”
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“We see Coinbase as a beneficiary of the election results as the firm has been struggling with regulatory pressure from the SEC, with the firm actively fighting the agency in court,” Michale Miller, an equities researcher at Morningstar, said in a November research note.
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On Nov. 11, COIN surged more than 20%, pushing the stock past $300 for the first time since 2021.
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Debate whether Bitcoin’s 21 million supply cap is truly fixed or not has resurfaced after BlackRock posted a three-minute Bitcoin explainer video, which added a disclaimer that there’s no guarantee it won’t be changed.
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“As we scale operations and extend our cost advantage in Bitcoin production, we anticipate that the flywheel effect will enable us to grow our holdings organically at a significant discount to market prices,” the Hut 8 CEO said.
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Hut 8 CEO Asher Genoot said that the company’s strategic BTC reserve is a “key component” of its treasury strategy and aligns with its capital and operating strategies.
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The expansion of Hut 8’s BTC reserve continues a growing trend among institutions as the option to include BTC as a strategic financial portfolio asset becomes more attractive, particularly as the United States prepares for a pro-crypto administration under President-elect Donald Trump.
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The purchase aligns with Hut 8’s strategy of combining low-cost Bitcoin production with opportunistic market buys to maximize returns and establish BTC as a reserve asset.
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Hut 8, one of North America’s largest Bitcoin miners, has announced a $100 million purchase of Bitcoin, increasing its holdings to over $1 billion.
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Today in crypto, Bitcoin miner Hut 8 has announced a $100 million purchase of BTC, increasing its holdings to over $1 billion, Bitcoiners and critics clashed over whether BTC’s 21 million fixed supply is truly guaranteed, and prosecutors in South Korea have reportedly recommended a six-month prison sentence for a lawmaker who allegedly refused to disclose his crypto holdings.
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The SEC wrote that the new rules aim to “curb the menace and address the growing popularity of financial influencers.” The SEC said it wants to prevent sharing unauthorized financial investment products on social media or any other marketing mediums.
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The SEC also noted that they would monitor crypto ads actively to ensure they adhere to the rules. Violations would result in enforcement actions, including sanctions and financial penalties.
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Finfluencers must also disclose if they received payment to promote the crypto products or services that they are promoting. Failure to comply can result in penalties, such as a minimum fine of 10 million Nigerian naira (about $6,400) or up to three years in jail.
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Bitwise, a leading cryptocurrency ETF provider, issued a report to institutional clients on Dec. 10 that included a $7,000 target price for ETH, driven by growing ETF adoption. The report highlighted expectations for accelerated growth in Ethereum layer-2 blockchains and “massive growth in stablecoins and tokenized projects.”
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Overall, the Ethereum ecosystem holds a 47% market share in DApp volumes, making it inaccurate to assert that Solana is the absolute leader. While Solana’s footprint in memecoins is notable and provides a competitive edge, Ethereum maintains dominance in liquid staking, lending, yield farming and synthetic assets.
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Ethereum network seven-day volumes rose by 21% on Dec. 12, reaching $24.3 billion. Although Solana leads in absolute onchain activity with $30.7 billion in turnover during the same period, the combined volumes of Ethereum layer-2 blockchains surpass that figure. Together, Base, Arbitrum, Polygon and Optimism recorded $25.6 billion in volumes over the seven-day period.
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While such costs may seem manageable during strong uptrends, they can quickly erode traders’ margins if prices stagnate or dip.
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