MicroStrategy Leveraged ETFs’ Impact on Crypto Markets Is Growing: JPMorgan
Leveraged MicroStrategy ETFs attracted $3.4 billion of inflows in November, the report said.
Markets
CoinDesk 20 Performance Update: RENDER Gains 14.7% as Index Moves Higher
Litecoin joined Render as a top performer, gaining 9.7%.
CoinDesk 20 Performance Update: UNI Jumps 16.3% as All Assets Trade Higher
9am CoinDesk 20 Update for 2024-11-27: leaders
First Mover Americas: BTC Returns to Near $94K
Bitcoin regains some ground following Tuesday’s slide.
Ether teases a return to $3,500.
Traders are piling into ETH derivatives.
Bitcoin’s Tumble to $91K Evokes Thanksgiving ‘Massacre’ of 2020
Bitcoin suffered a steep decline four years ago around Thanksgiving after being turned away at the $20,000 level.
The action this year after failing at $100,000 is similar, though less severe so far.
Those who bought the dip in 2020 didn’t have to wait long to be rewarded.
CoinDesk 20 Performance Update: XLM Falls 14.6% as All Index Constituents Decline
9am CoinDesk 20 Update for 2024-11-26: laggards
First Mover Americas: Bitcoin’s Correction Takes Price Below $93K
Bitcoin has fallen over 6% in the last 24 hours.
Indicators suggest BTC could drop to as low as $90,000.
Ether outperforms the broader market.
Bitcoin Long-Term Holders Have 163K More BTC to Sell, History Indicates: Van Straten
Long-term investors have sold almost 550,000 BTC, almost 4% of their holdings.
Last week, one-day profit-taking touched a record high in dollar terms, more than $10.5 billion.
The percentage drop from long-term holders continues to fall each cycle.
Ethereum Blob Usage Explodes as Traders Rush to Layer 2 Solutions
Ethereum has seen a surge in blob usage, averaging over 21,000 blobs this month, matching March’s record activity.
The Dencun upgrade allows Layer 2 solutions to efficiently bundle transactions and post them to Ethereum.
Blob fees spiked, leading to the burning of over 166 ETH worth $560,000 in the past week.
XRP Holds Strong as Archax Unveils Tokenized Money Market Fund on XRP Ledger
Archax has provided access to Abrdn’s U.S. dollar Liquidity Fund (Lux) in tokenized form on XRPL.
Ripple will allocate $5 million into tokens on Abrdn’s Lux fund, part of a larger allocation to real-world assets (RWAs) on the XRPL.
XRP price jumped 6%, touching a high of $1.49 in the hours following the release, before paring gains in a market-wide drop.