Son Min

The price of Bitcoin instantaneously fell by 1 trillion won.

The surge of TRON (TRX) is seen as a signal for the start of the Upbit season. On the 2nd (local time), Cointelegraph stated, "TRON's market cap has surpassed 20 billion dollars, setting a historic high," adding, "This is a signal that Upbit will see a strong trend until 2025." It further stated, "This has made Justin Sun, the founder of TRON, the largest investor in World Liberty Finance (WLFI), and after this announcement, TRON has risen more than 101% since the beginning of the year."

The trading volume of Ripple (XRP) on Upbit has surpassed the total trading volume of the stock market. On the 2nd (local time), Cointelegraph reported that "the trading volume of Ripple on Upbit has exceeded the total trading volume of the stock market."

Arbitrum (ARB) has emerged as the first L2 to achieve a TVL (Total Value Locked) of $20 billion. On the 2nd (local time), Arbitrum announced through X that "Arbitrum has achieved the first TVL of $20 billion in L2" and stated that "our expansion potential is limitless."

Chainlink (LINK) new address creation has reached a 2-year high. On the 2nd (local time), IntoTheBlock reported that "the number of newly created Chainlink addresses is at its highest in 2 years." Currently, Chainlink on the Binance USDT market is trading at 24.59 dollars, up 23.01% compared to 24 hours ago.

A statement has emerged that the recent Bitcoin spot ETF craze is similar to the atmosphere and factors at the time of Bitcoin spot ETF approval. On the 2nd (local time), Joo Ki-young, CEO of CryptoQuant, stated through X, "The Bitcoin spot ETF held as much Bitcoin as Satoshi Nakamoto, the creator of Bitcoin," and "The demand for Bitcoin spot ETF shows the strength of the level at the time of the first approval of Bitcoin spot ETF earlier this year." Meanwhile, Satoshi Nakamoto's estimated holdings are currently 1,096,160 BTC.

Pumpkin Pancake, a platform based on Solana (SOL), has emerged as having recorded the highest monthly sales in history. On the 2nd (local time), Solana Explorer announced through X that "Pumpkin Pancake's November sales recorded 93.88 million dollars," marking it as the "highest monthly sales in history."

There is a claim that Bitcoin could fall to 90,000 dollars. On the 2nd (local time), analyst Ali Martinez stated through X that "Bitcoin could form a 'Head & Shoulders' pattern" and "could fall to 90,000 dollars."

Bitcoin's spot-to-futures ratio has hit a record low. On the 2nd (local time), a joint venture between Anhalt and Allemann Glassnode announced through X that "Bitcoin's spot-to-futures ratio has recorded its lowest point," and stated that "the dominance of the spot market over the futures market is decreasing." They further added that "such a change reduces the risk of significant volatility in Bitcoin's price."

IBIT, a physical Bitcoin ETF, has reportedly sold 500,000 units of Bitcoin. On the 2nd (local time), Unfolded reported through X that "IBIT held 500,000 units of Bitcoin." The day before, 3,553.95 million dollars (approximately 4.966 trillion won) were net inflows into the physical Bitcoin ETF.

Jinia's Group, a leading company in Singapore, has purchased 172 BTC. On the 2nd (local time), the Bitcoin exchange announced through X that "Jinia's Group, a leading company in Singapore, has purchased 172BTC," stating it was a "15.8 billion won scale."

Donald Trump, the former President of the United States, was re-elected, and it was reported that the trading fee revenue of Ethereum (ETH) surged. According to CoinDesk on the 2nd (local time), a report stated, "After Donald Trump's election victory, the trading revenue of Ethereum blockchain surged," and "the amount of Tether (USDT) within the Ethereum network exceeded the supply of TRON (TRX) for the first time in two years." The report stated, "Such changes bring higher staking rewards, leading to more Ethereum being burned through trading fees," and "Toconomics is strengthened, making Ethereum an even more attractive investment asset." It continued, "The daily trading volume of Ethereum Layer 2 is also increasing," and "the increase in trading volume is expected to continue for the time being."

The Bitcoin holdings of long-term holders have reached the lowest level since July 2022. On the 2nd (local time), IntoTheBlock reported that "the Bitcoin holdings of long-term holders are at the lowest level since July 2022," and that "Bitcoin long-term holders are gradually reducing their holdings." However, "the decrease in Bitcoin holdings is not as severe as in the past," explaining that "in the cycles of 2017 and 2021, there were decreases of 26% and 15%, respectively." It was added that "in this week, the decrease is only 9.8%."

An analysis has emerged stating that Bitcoin is expected to reach 11 million dollars by the end of the year. On the 2nd (local time), Metrixport reported that "analyzing Bitcoin charts over the past 10 years shows that it rose 6 times and fell 4 times in December," and "the average return rate is 9.6%." It further predicted that "if such a pattern repeats, Bitcoin will reach 11 million dollars by the year-end." The report stated, "The fourth quarter is a season showing strong growth in the virtual asset market," adding that "Altcoin can also expect a good price increase."

A claim has emerged that taking a short position on Ripple (XRP) is risky. On the 2nd (local time), Ju Kyung-young, a representative of the crypto community, stated through X Buqueit The Alt that "shorting Ripple now seems risky," adding that "although the 25 billion dollar scale of Ripple inflow may look like market manipulation, it could simply be a preemptive buying." He further stated, "This insider trade suggests that they may have very strong issues regarding Ripple," and "there are variables such as the approval of a physical ETF for Ripple."

Ripple (XRP) has been transferred in bulk. On the 2nd (local time), Whale Alert reported through X that "1 billion XRP was transferred in bulk from an unknown wallet." This amounts to 2.7 million dollars (approximately 3.788 trillion KRW).

The rise of Ripple (XRP) is reportedly led by Koreans. On the 2nd (local time), the blockchain analysis company Skoposcan stated through X that "the recent rise of Ripple is likely led by Koreans," adding that "the trading volume of Ripple on Upbit over the past 24 hours was 3.8 billion dollars." It further stated, "This is 11 times the trading volume of Coinone," and that "the trading volume of Ripple on Binance was also significant." It was also reported that "the trading volume of Ripple on Bithumb was recorded at 1.2 billion dollars," adding that "it accounted for 32% of the total Ripple trading volume."

There is a claim that Ripple (XRP) could drop by 20%% within December. On the 29th (local time), Cointelegraph reported, "According to technical analysis, Ripple could see a 20%% price drop in December," adding that "excessive leverage positions could exacerbate the downward pressure." Furthermore, it was stated, "Ripple's price has reached the resistance line, and the Relative Strength Index (RSI) has also exceeded 80, entering the overbought zone." The media also reported, "Ripple whales are selling Ripple," and "the holdings of whales with over 100,000 XRP have decreased." Additionally, it was mentioned, "Some whales are trading at the highest point in years." Moreover, the increase in the futures market's open interest is also acting as downward pressure. The media stated, "In the last 24 hours, Ripple's open interest increased by 37%%, recording 31.9 billion dollars, which implies a high level of speculative activity on Ripple." CryptoQuant analyst Ja Ma-reuk said, "The increase in Ripple's open interest coincides with the 17%% drop that occurred between November 23 and 26," adding that "the upward trend based on leverage could lead to a long liquidation."

Over the past 3 days, Ethereum trading has resulted in the sale of 280,000 ETH. On the 29th (local time), analyst Ali Martinez stated through X that "Ethereum trading has resulted in the sale of 280,000 ETH over the past 3 days," describing it as a "billion-dollar scale."

A claim has emerged that Bitcoin will surge in December, aligning with the US election. On the 29th (local time), analyst Ali Martinez stated through X that "historically, Bitcoin surged in December following the US election," noting "in the past two weeks, it surged by 30%% and 46%% respectively." He further predicted, "If history repeats, we will see a surge in Bitcoin," expecting it to reach between 125,000 to 140,000 dollars by the end of the year.

MicroStrategy has emerged as the company holding the most Bitcoin. On the 29th (local time), the Bitcoin analysis platform Hodl Capital shared this image through X, titled "Top 60 Bitcoin Holding Companies." According to the data, MicroStrategy holds 386,700 BTC, followed by Marathon Digital and Galaxy Digital with 34,794 BTC and 15,449 BTC respectively. Tether holds 9,720 BTC, ranking 5th.

As the altcoin season begins, there is anticipation for the rise of Ripple (XRP) and various other altcoins. On the 29th (local time), Cointelegraph stated, "Bitcoin dominance is declining, and many analysts are optimistic about the altcoin season," adding, "The decrease in Bitcoin market dominance is leading investors to shift some of their Bitcoin investments into altcoins." Furthermore, they explained, "Interest from asset investors has already shifted to altcoins," and "demand for Ethereum ETFs has increased by more than 160%% after the Trump election." Recently, regarding Ripple's upward trend, it was evaluated that "Ripple can also benefit from Bitcoin dominance decline." Lion Lee, a crypto analyst, mentioned, "Ripple is expected to surge by 2.57 dollars within this year," and "historically, Ripple has risen for about 228 days after the Bitcoin halving." Additionally, the potential launch of a Ripple physical ETF is expected to act as a catalyst for Ripple's main price surge. Earlier, asset trader Mickey Bull Crypto analyzed that "Bitcoin dominance has fallen to 56.1%% over two years," and "this is a fundamental entry into the altcoin season."

A statement has been made that Bitcoin Dominance is expected to decline as altcoins become more active. On the 29th (local time), a virtual asset (cryptocurrency) trader Mickey Bull Crypto stated, "Bitcoin Dominance has supported the market for two years at 56.1%%," and "it has entered a genuine altseason."

If you consider the interest in Bitcoin (BTC), there is a claim that an additional increase is expected. On the 29th (local time), analyst Ali Martinez stated through X that "investors are maintaining a cautious stance" and "the possibility of a Bitcoin price increase is still high."