Bitcoin is currently priced at $92,796, Bitcoin is down -1.01% in the past 24 hours, while Ethereum trades at $3,361, up +0.17%. The Fear and Greed Index decreased to 65 (Greed) today, still reflecting bullish market sentiment. December was a landmark month for the crypto industry, with significant achievements across decentralized exchanges (DEXs), corporate Bitcoin holdings, and blockchain ecosystems. DEXs recorded a staggering $462 billion in trading volume, surpassing November’s $374 billion by 23.5%. MicroStrategy added 2,138 Bitcoin (BTC) to its holdings, bringing its total to 446,400 BTC worth $43.2 billion. Meanwhile, XRP showed growing utility, with a 430% increase in XRP price and significant activity metrics. These milestones highlight the rapid expansion and innovation in blockchain technology, solidifying its role in global financial markets.
What’s Trending in the Crypto Community?
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MicroStrategy added 2,138 BTC at an average price of $97,837 per coin.
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Tether increased its holdings by 7,628.9 BTC, worth approximately $705 million.
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Bloomberg: BlackRock's IBIT Bitcoin Trust Fund is “the greatest ETF launch in history.”
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The AI autonomous agent framework Eliza became GitHub’s hottest project of the month.
Read more: What Is RLUSD? A Comprehensive Guide to Ripple's Stablecoin and Its Impact on XRP
Crypto Fear & Greed Index | Source: Alternative.me
Trending Tokens of the Day
Top 24-Hour Performers
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Crypto Sets New Decentralized Exchange (DEX) Volume Record of $462B in December
Monthly decentralized exchange volume. Source: DefiLlama
In December, decentralized exchanges (DEXs) reached a record trading volume of $462 billion, a 23.5% increase from November's $374 billion. This marked the highest monthly volume ever recorded. Uniswap led with $106.4 billion, representing 23% of total volume. PancakeSwap followed with $96.4 billion, capturing 20.9%. Raydium, Solana’s largest DEX, processed $58 billion, contributing 12.6%. Other top performers included Aerodrome at $31 billion and Orca at $22 billion. Lifinity, Curve Finance, and Hyperliquid added a combined $43.6 billion. Across all DEXs, over 1.26 billion transactions occurred in December, up from 980 million in November.
Raydium’s success aligned with Solana’s decentralized applications (DApps) generating $365 million in November. Over 55% of this revenue came from memecoins launched on Pump.fun, a Solana-based platform. Solana’s increasing DApp activity fueled broader adoption, particularly through memecoin trading.
Read More: Top Decentralized Exchanges (DEXs) to Know in 2024
Top decentralized exchanges by monthly trading volume. Source: DefiLlama
MicroStrategy Acquires $209M More Bitcoin on Dec 30
Source: Michael Saylor
MicroStrategy expanded its Bitcoin holdings by acquiring 2,138 BTC for $209 million on December 30th, 2024. The purchase raised its total holdings to 446,400 BTC, valued at approximately $43.2 billion. The company achieved a Bitcoin yield of 74.1% in 2024, significantly outperforming other corporate Bitcoin holders. MicroStrategy funded the acquisition by selling 592,987 shares, raising over $210 million. Its average purchase price for Bitcoin is $26,000 per coin, showcasing disciplined acquisition strategies. Marathon Digital, the second-largest corporate Bitcoin holder, holds 44,000 BTC, only 10% of MicroStrategy’s total.
Michael Saylor, MicroStrategy’s co-founder and executive chairman, hinted at the purchase in late December. The company’s aggressive Bitcoin accumulation underscores its confidence in the asset’s long-term value despite market fluctuations.
XRP Ledger Gains Momentum as it Shows Signs of Continued Usage Suggesting Price Increase
XRP activity surged in December. Its velocity metric, which measures transaction frequency relative to market cap, showed steady growth. Analyst Maartunn explained that higher velocity reflects increasing network utility. This growth coincided with a 430% increase in XRP’s price, rising from $0.5319 on November 6 to $2.82 on December 3. Despite this, total deposits on XRP dropped from $71.5 million on December 16 to $58 million by month’s end, a 20% decline. XRP’s total value locked (TVL) remains linked to automated market maker pools.
Ripple Labs launched Ripple USD (RLUSD), a stablecoin pegged to the US dollar, on XRP Ledger and Ethereum. RLUSD supports real-world asset (RWA) tokenization, targeting a market projected to reach $3 trillion. Ripple partnered with Archax and abrdn to launch a money market fund, which includes $5 million in tokenized treasury bills circulating on XRP. These developments aim to enhance liquidity and drive adoption of XRP’s ecosystem.
According to Businesswire’s report:
RLUSD combines the stability of traditional fiat currencies with the efficiency of blockchain technology, making it ideal for financial use cases. Backed by Ripple's enterprise experience and proven track record, RLUSD is built for:
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Payments: RLUSD enables real-time, 24/7 global payments. Alongside XRP, RLUSD will be integrated into Ripple's cross-border payments solution to continue to improve transaction time, cost efficiency, and reliability. Ripple's robust payment network covers over 90 markets, representing more than 90% of daily FX volume, and has facilitated over 37 million transactions worth nearly $70B.
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On/Off Ramps: RLUSD provides a stable, reliable bridge between traditional fiat currencies and the crypto ecosystem. Users can easily convert between stablecoins and fiat without worrying about price volatility, ensuring a seamless and efficient transition when entering (on-ramp) or exiting (off-ramp) the crypto space.
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Tokenization of Real-World Assets (RWA): Compliant and transparent stablecoins, like RLUSD, provide liquidity, settlement, and collateralization for trading RWAs such as commodities, securities, and treasuries on-chain. RLUSD provides a stable medium of exchange, reducing transaction volatility and costs.
Conclusion
December showcased significant advancements in crypto. DEX volumes reached a record $462 billion, led by Uniswap and PancakeSwap. MicroStrategy reaffirmed its Bitcoin strategy with a $209 million purchase, bringing its holdings to unprecedented levels. XRP’s growing velocity and Ripple’s stablecoin launch hinted at future expansion. These milestones highlight blockchain’s ability to shape the financial landscape, signaling continued growth and innovation.
