Originally published on: December 06, 2024
Bitcoin made history on December 5 by surpassing the $100,000 mark for the first time ever, with experts predicting a “local top” of $110,000 before the inauguration of President-elect Donald Trump on January 20.
Following this milestone, altcoin investors are showing renewed risk appetite as Tron (TRX) recently hit a record $20 billion market capitalization. This surge in TRX value is fueling expectations of an upcoming altcoin season, as profits from Bitcoin investments are projected to flow into smaller cryptocurrencies.
Analysts suggest that Bitcoin has entered a “parabolic phase” in the market cycle, with expectations of surpassing $110,000 before the end of January. This forecast is supported by Bitcoin’s correlation with the Global Macro Investor’s Total Liquidity Index, which provides insight into major central bank balance sheets.
Meanwhile, TRX’s impressive market cap milestone signals a positive trend for altcoins entering the new year, with the token hitting an all-time high of $0.23 and showing a 42% increase on the monthly chart and over 101% year-to-date.
In other news, Curve Finance has reported annualized revenues of nearly $37 million in the past 30 days, driven by increased demand for leveraged financing and new product offerings. Ethereum co-founder Vitalik Buterin has also called for improved security and privacy features in Web3 wallets to enhance user experience.
Looking ahead, the global uranium trade may adopt blockchain technology through Uranium.io, a new platform built on the Tezos blockchain. This initiative aims to revolutionize uranium trading by introducing transparency and accessibility to investors.
Overall, the cryptocurrency market has shown positive momentum, with most of the top 100 coins ending the week in the green. The Curve DAO Token (CRV) and Hedera (HBAR) were among the top performers, showcasing impressive gains over the past week.
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