Bitcoin is currently priced at $98,060.7, Bitcoin is up +4.04% in the past 24 hours, while Ethereum trades at $3,478.36, up +2.32%. The Fear and Greed Index maintained a 73 (Greed) today, still reflecting bullish market sentiment. MicroStrategy has unveiled an ambitious $42 billion Bitcoin acquisition strategy, proposing to raise its authorized shares from 330 million to 10.33 billion, alongside plans to issue $21 billion in equity and $21 billion in fixed-income instruments. Coinbase International’s trading volume has surged by 124%, reaching $119 billion in a single week. Meanwhile, Aave and Lido, two leading DeFi protocols, surpassed $70 billion in combined net deposits, accounting for 45.5% of the $148 billion allocated to the top 20 decentralized applications. These developments highlight the crypto sector’s rapid evolution, backed by numbers that reinforce its growing influence in global markets.
What’s Trending in the Crypto Community?
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MicroStrategy has unveiled an ambitious $42 billion Bitcoin acquisition strategy, proposing to raise its authorized shares from 330 million to 10.33 billion
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Coinbase International’s trading volume has surged by 124%, reaching $119 billion in a single week.
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Aave and Lido, two leading DeFi protocols, surpassed $70 billion in combined net deposits, accounting for 45.5% of the $148 billion allocated to the top 20 decentralized applications
Read more: MicroStrategy Hits $27B in BTC, Tether Invests $775M in Rumble, Cathie Wood Eyes $1M BTC: Dec 23
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MicroStrategy Calls Shareholders Meeting for $42 Billion Bitcoin Acquisition Plan
MicroStrategy’s portfolio holds over 444 million BTC. Source: Saylor Tracker
MicroStrategy has announced a special shareholder meeting to approve increasing its authorized shares from 330 million to 10.33 billion. This move supports its ambitious $42 billion Bitcoin acquisition strategy, known as the 21/21 Plan. The plan includes raising $21 billion in equity and another $21 billion through fixed-income instruments. While the SEC filing doesn’t explicitly confirm new Bitcoin purchases, the company’s identity as a “Bitcoin Treasury Company” suggests the funds will likely bolster its substantial Bitcoin portfolio.
The 21/21 Plan also includes amendments to increase preferred stock from 5 million to 1.005 billion. This expansion provides flexibility for future initiatives and reflects the company's commitment to strengthening its governance framework. Key governance changes include automatic equity awards for new non-employee directors, aligning board compensation with the unique challenges of managing a Bitcoin-centric strategy.
As of December 2024, MicroStrategy holds over 444,000 BTC valued at approximately $43.5 billion. Its most recent purchases totaled 42,162 BTC in December alone. Shareholders must evaluate the implications of these proposed changes, weighing potential dilution against the strategic benefits of enhanced financial capacity. The company emphasizes that deploying raised capital for Bitcoin or other initiatives could mitigate dilution, particularly if Bitcoin prices rise.
The proposed amendments highlight MicroStrategy’s vision of remaining competitive in the cryptocurrency space. However, the company recognizes the risks of altering ownership structures and urges shareholders to participate in upcoming votes to shape the company's future trajectory.
Coinbase Trading Volume Surges to $119 Billion Weekly High
Coinbase International reported a trading volume of over $119 billion last week, averaging $20 billion daily. This marks a 124% increase from the prior week and a significant rise from November’s $2.5 billion daily average. The exchange’s top trading pairs—BTC-PERP, ETH-PERP, SOL, XRP, and DOGE—accounted for 99.8% of total volume, with BTC-PERP alone contributing 57%.
Coinbase International’s growth is driven by key expansion strategies. These include aligning with the EU’s MiCA regulation, sponsoring events like the Melbourne Marathon, doubling leverage from 10x to 20x, and launching spot markets in late 2023. The exchange’s focus on non-U.S. institutions positions it as a leading global player in the crypto ecosystem.
Aave and Lido Surpass $70 Billion in Net Deposits
Furthermore, according to data from The Block, the ratio between decentralized and centralized exchanges reached 13.9% in October, the second-highest level in history, signifying a resurgence in DEX and lending DeFi protocols. Source: The Block
Leading DeFi protocols Aave and Lido reached a combined $70 billion in net deposits this December. Aave holds $34.3 billion, while Lido follows closely with $33.1 billion. Together, these protocols represent 45.5% of the $148 billion allocated to the top 20 DeFi applications. Regarding total value locked (TVL), Lido leads with $33.8 billion, and Aave holds $20.6 billion.
Source: KuCoin
Revenue growth reflects their prominence. In the past 30 days, Aave generated $12.5 million in revenue, a 27.5% increase, while Lido earned $9.6 million, up 24%. Both protocols rank among the top 15 in DeFi revenue generation.
Source: KuCoin
The broader DeFi ecosystem is experiencing a resurgence. Total TVL has soared 107% in 2024, peaking at $212 billion in December. Decentralized exchanges reported a record $380 billion in trading volume for November, while active loans reached $21 billion this month, the highest on record. These metrics highlight increasing user confidence in on-chain financial solutions and growing stablecoin market activity, which now approaches $200 billion.
Conclusion
This week’s developments reflect the dynamic nature of the cryptocurrency and DeFi sectors. MicroStrategy’s bold Bitcoin strategy underscores its role as a pioneer in digital asset investment. Coinbase International’s trading surge showcases its growing influence among global institutions. Aave and Lido’s milestones highlight the DeFi ecosystem’s resilience and growth. These stories demonstrate how innovation and strategic decisions continue to shape the future of crypto.
