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"MicroStrategy Buys an Additional 16,130 Bitcoins for US$593 Million in Cash | Cryptocurrency Trends"

1.Mainstream Exchange Trends:

Binance pilots banking tri-party agreement which enables institutional investors to keep trading collateral off the exchange and in the custody of a third party banking partner.

OKX will open ETH Base chain deposits and withdrawals from December 1st.

Coinbase International will list ADA, LINK, DOGE, and XLM perpetual futures contracts.

Bitget Launchpool listed new projects GAMEE and ZKS.

OKX listed Injective (INJ).

Upbit listed ID, but currently only allows trading with BTC.

2.Cryptocurrency Trends:

On December 1st, Hong Kong-listed BC Technologies announced that its licensed virtual asset trading platform, OSL, and its partner Victory Securities are expanding there services to retail investors in Hong Kong.

Grayscale hired former Invesco ETF executive, John Hoffman as managing director as it gears up for the spot Bitcoin ETF.

CoinList will launch the BitsCrunch (BCUT) token sale on December 15th. Registration is now open.

Sui introduced the Sui Weather Oracle which provides weather data for over 1000 cities around the world.

Microstrategy buys an additional 16,130 bitcoins for US$593 million in cash.

KyberSwap attackers proposed settlement conditions including "obtaining complete control of Kyber and handing over all property".

Hooked Protocol will introduce a US$50 million education ecosystem fund to kickstart the HOOK 2.0 proposal.

Crypto mining platform AntPool says it will refund the unprecedented transaction fee of 83 BTC to the affected user, provided they produce the necessary identification information.

LK Venture, a subsidiary of Linekong Interactive, announced its investment in UniSat, with Element and UniSat also reaching a comprehensive strategic cooperation.

3.Financing Trends:

Grove, the decentralized physical infrastructure provider, secured $7.9 million in funding.

Fixed-income protocol, Term Structure, completed a US$4.25 million seed round of financing led by Cumberland DRW.

ParaX announced rebranding as Parallel Finance, raising over US$30 million so far.

4.Regulatory Trends:

The U.S. SEC confirmed receiving the Fidelity Ethereum spot ETF application proposal submitted by CBOE.

Leader of a Miami gang sentenced to 63 months in prison for defrauding banks and cryptocurrency exchanges out of more than US$4 million.

In the Budget for the Financial Year 2024–25 of the Hong Kong Securities and Futures Professional Association, the association’s president, Chen Zhihua, included a suggestion that Hong Kong consider launching an initial coin offering (ICO) mechanism.

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Ripple Raises Potential Rise To $10 Potential

Cryptocurrency analyst EgragCrypto, known for predicting an 80% surge in Ripple's XRP this year, forecasts that XRP could reach $10 or $50. According to crypto-specialized media Watcher Guru, EgragCrypto's prediction is based on historical data, citing the 2017 rally when XRP surged by 8,000%. The analyst anticipates a potential 1,506% increase if XRP follows a similar trajectory as in the five months leading up to the end of 2017, and an 8,000% surge over 12 months.

However, EgragCrypto's prediction doesn't suggest an imminent all-time high for XRP. Watcher Guru notes, "Many analysts expect the cryptocurrency market to show strength in 2024. Some predict that Bitcoin (BTC) and other major cryptocurrencies could hit new highs next year. If other cryptocurrencies set new records, XRP could follow suit."

They further state, "Ripple reached its all-time high in January 2018, almost six years ago. Moreover, Ripple has been widely adopted by institutions in recent years. With the increasing adoption and a market rally, XRP's price could surpass its all-time high in 2024."

As of December 2nd, according to CoinMarketCap, XRP, ranked 5th by market capitalization globally, is trading at $0.6125. XRP's historical high was recorded at $3.84 on January 4, 2018.

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"Templeton CEO Jenny Johnson Personally Investing in Bitcoin, Ethereum, SushiSwap, Uniswap, and More."

Franklin Templeton CEO Jenny Johnson stated, 'I am personally investing in cryptocurrencies, believing that blockchain technology will contribute to market democratization.' When asked about the extent of her personal cryptocurrency investments, Johnson responded, 'While it doesn't constitute a significant portion of my overall portfolio, I am indeed investing.'

Johnson mentioned holding fundamental coins, including Ethereum, some Bitcoin, SushiSwap, Uniswap, and added, 'I have invested in several other coins as well.'

In September, Franklin Templeton filed an application for a Bitcoin ETF approval. As a global financial giant managing $1.3 trillion, Templeton has grown into a major player on Wall Street since its establishment in 1947.

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"THREE POW COINS TO WATCH IN 2024"

​Bitcoin still reigns as the top Proof-of-Work (POW) blockchain, creating numerous millionaires over the years. However, some investors worry about its limited upside potential due to significant price movements. In this regard, altcoins present opportunities for small and retail investors. Recently, a new altcoin using the POW mechanism, similar to Bitcoin, has caught attention, as reported by newsBTC on the 1st.

Qubic (QUBIC), POW Coin Similar to Bitcoin

Qubic (QUBIC) coin is gaining popularity on social media platforms like Twitter, and for good reason. This coin's blockchain utilizes the same POW mechanism as Bitcoin and is led by Dominic Schiener, co-founder of IOTA, adding credibility and attracting reasonable followers. Trading at less than $0.1, it could be a promising long-term investment. With a circulating supply of 71.425 billion and a market cap of around $200 million, 16% of the total supply has already been burned.

Nexa (NEXA), Leading POW Altcoin

Nexa (NEXA) is another POW blockchain, but unlike Bitcoin, it employs the UTXO layer, supporting native tokens and smart contracts. Addressing scalability issues faced by Bitcoin and Ethereum, Nexa uses signatures and UTXO queries. Currently, Nexa token trades at less than a penny with a market cap of about $32.4 million.

Firo (FIRO)

Firo (FIRO) is a promising POW coin rebranded from Zcoin, emphasizing privacy. Priced at $1.84, it has a fully diluted market cap of less than $40 million, the lowest in this category. The price has been relatively stable over the past week, suggesting accumulation before a potential upward movement.