Sui blockchain signs strategic partnership with $1.5 trillion asset manager Franklin Templeton 🤝

$SUI token, which in recent months outperformed most other alt coins did not react to this news 🤑

Understanding Bitcoin Dominance. When will Altseason start? 🚀

Bitcoin dominance is the percentage of the total crypto market value that belongs to Bitcoin. It shows how much of the crypto market is made up by Bitcoin compared to all other altcoins combined 🤑

Yesterday, this percentage reached a new high for this cycle of 61.52%

🔼 When Bitcoin dominance rises, Bitcoin is capturing more of the market share. Bitcoin sucks up the liquidity from alt coins and memes often outperforming them.

In this market, everything trades like this:

• If BTC up = alts slightly up
• If BTC down = alts nuke by a lot
• If BTC stable = alts down

🔽 When Bitcoin dominance falls, it means altcoins are gaining more market share starting to outperform BTC.

During this time investors have higher risk appetite and are shifting Bitcoin gains into alts, seeking higher returns 🤪

In this market, everything trades like this:

• If BTC up = altcoins are pumping hard
• If BTC down = strong altcoins are slightly down or stable
• If BTC stable = altcoins are rising

Altseason usually happens when Bitcoin dominance drops significantly. This is usually the last thing to happen at the end of the bull market as investors take greater and greater risks in the pursuit of profit 💰

#FAQ

✅ Another day when more than a billion dollars flowed into spot BTC ETFs. Bitcoin's dominance fell a bit, causing many altcoins to have a very nice pump 🚀

Daily Digest:

🔸 Polymarket prediction betting market opted to block France-based users 

🔸 South Korean virtual asset deposit platform Delio was declared bankrupt with $1.75B in assets lost

🔸 Apple confirmed that its devices were left vulnerable to an exploit that leaves crypto users exposed 🚨

🔸 CFTC has endorsed using blockchain technology to manage trading collateral in United States derivatives markets

🔸 Trump picked pro-crypto hedge fund manager Scott Bessent for Treasury Secretary

🔸 Sui blockchain signed a strategic partnership with $1.5 trillion asset manager Franklin Templeton 🤝

🔸 The incoming CEO of banking and investment giant Charles Schwab says "I have not bought crypto, and now I feel silly"

🔹 Prices:

🥇 Bitcoin - $98,720 (↑0.7%)
✨ Ethereum - $3,350 (↑0.8%)
🧪 S&P 500 - 5,969 (↑0.35%)
🕗 DXY - 107.49 (10.48%)
🌉 Gold - 2,716 (↑1.74%)

Market sentiment check... 😄

Fun fact: The second poorest state in the US is still richer than any country in Europe in terms of GDP per capita 😱

Europeans are facing a new economic reality, one they haven't experienced in decades. They are becoming poorer 🫡

💰 In 2008, the eurozone and the US had equivalent gross domestic products (GDP) at current prices of $14.2 trillion and $14.8 trillion respectively.

Fifteen years later, Eurozone GDP is just over $15 trillion, while US GDP has soared to $26.9 trillion 📊

That's a difference of 76.12% 😨

But why? In a nutshell: Regulation, lack of innovation, fragmentation, bureaucracy and demographics

Bitcoin looks poised for its next major move (orange dots on the chart). Historical trends suggest we’re entering the explosive growth phase following a period of consolidation 🧪

We may see some short-term pullbacks or sideways movement as the market gathers momentum. These phases are a natural part of the cycle 🕯

In the last 24 hours, $235 million worth of leveraged long positions have been liquidated 🫡

BTC didn't drop 5% or 10%, it dropped 0.5%, but people are so overleveraged that even this small move caused massive liquidations 😵

Why do people like to long the top with inexcusably high leverage so much?

Michael Saylor, CEO of Microstrategy, hints at more BTC purchases in the coming days 🕕

The last time he tweeted like this, the company announced $4.6 billion in purchases 🤑

✅ This week, Bitcoin rose 8.1%, surpassing its historical high several times and at one point almost reaching $100,000, within $500 of the mark 🔼

Weekly news digest:

💎 Crypto

🔸 MicroStrategy announced it had bought another 51,780 BTC worth $4.6 billion during the last week

🔸 A user accidentally sent $129M USDT to a scam address while attempting a transaction

🔸 MicroStrategy announced it has completed a $3 billion offering of convertible notes to buy even more Bitcoin

🔸 Apple confirmed that its devices were left vulnerable to an exploit that leaves crypto users exposed

🔸 Sui blockchain signed a strategic partnership with $1.5 trillion asset manager Franklin Templeton 👋👋

🔸 Polymarket prediction betting market opted to block France-based users 

🌀 Crypto Exchanges

🔸 FTX payouts for creditors and clients are expected in March 2025

🔸 Coinbase will delist wBTC in December

🔸 Donald Trump will meet with the CEO of crypto exchange Coinbase

💵 Finances and Economy

🔸 South Korean virtual asset deposit platform Delio was declared bankrupt with $1.75B in assets lost
 
🔸 Mastercard collaborates with JPMorgan to bring cross-border payments on the blockchain 🌎
 
🔸 Goldman Sachs is preparing to launch three new tokenization crypto products later this year

⚖️ Law and Order

🔸 CFTC has endorsed using blockchain technology to manage trading collateral in United States derivatives markets

🔸 SEC Chair Gary Gensler plans to fully leave the commission — not just step down as chairman — on Jan. 20
🔸 A judge has tossed out the broker-dealer rule for crypto liquidity providers from the US SEC

🔸 FTX co-founder Gary Wang was sentenced to time served plus forfeiture of assets 🎎
 
🔸 California judge ruled DAO members liable under partnership laws 

 🗣 Personalities

🔸 Trump picked pro-crypto hedge fund manager Scott Bessent for Treasury Secretary

🔸 The incoming CEO of banking and investment giant Charles Schwab says "I have not bought crypto, and now I feel silly"

🔸 Shaquille O’Neal has agreed to compensate $11m to investors tied to his embattled Astrals NFT project

🚀 Best performers of the week:

XLM - $0.507 (↑149.8%)
SAND - $0.722 (↑105.6%)
MANA - 0.656 (↑67.6%)

Join our chat 🗯

Historic Record 🥇

Investments in digital assets soared to a record-breaking $3.13 billion in just one week ↗️

Since September, following the rate cuts in the US, total inflows have reached an impressive $15.2 billion 💰

Oops! Bitcoin dropped by 4.41% today 🔽

Bitcoin dominance is now at 58.8%, down by 4.8% from the local high of 61.5% 📉

Remember, even in a bull market there will be dips, they are meant to be bought

It didn't take long 😅

PumpFun, the Solana meme coin launchpad platform, has removed live-streaming feature from its platform 🛠

This comes after a wave of criticism from the community in response to the large amount of outright vulgarity that was taking place on the streams 🔞

✅ Bitcoin price falls as market cap dominates, Ethereum meanwhile shows relative strength as BTC falls below $95k and ETH rises above 3,500 📉📈

Daily Digest:

🔸 Huobi's L1 blockchain HECO Network will shut down on January 15, 2025

🔸 Investments in digital assets soared to a record-breaking $3.13 billion in just one week

🔸 Justin Sun's Tron buys $30 million of Trump-backed World Liberty Financial tokens 🛒

🔸 PumpFun, the Solana meme coin launchpad platform, has removed the live-streaming feature from its platform

🔸 $100 billion asset manager Wisdom Tree registers for spot XRP ETF

🔸 MicroStrategy bought 55,000 more bitcoins worth approximately $5.4 billion 🐳

🔸 Cantor Fitzgerald acquired a 5% stake in Tether for up to $600m

🔹 Prices:

🥇 Bitcoin - $93,753 (↓2.3%)
✨ Ethereum - $3,489 (↑4.3%)
🧪 S&P 500 - 5,987 (↑0.30%)
🕗 DXY - 106.89 (↓0.62%)
🌉 Gold - 2,626 (↑3.15%)

This legendary fumble by the German government this summer will go down in history. Truly noodle hands 😆