FameEX Morning Crypto News Recap | December 10, 2024

MicroStrategy Owns More Than 2% of the Total Bitcoin Supply

As of December 8, 2024, MicroStrategy disclosed holding 423,650 bitcoins, equivalent to 2.017% of the total 21 million bitcoin supply.

Market Grows Cautious Ahead of the Christmas Holiday

As the Christmas holiday approaches, market sentiment has become increasingly cautious, resulting in a sharp decline in retail trading activity. South Korea’s cryptocurrency trading volume has plummeted from a peak of $25 billion to $6.6 billion, highlighting reduced investor activity and a more conservative market environment.

Ex-SEC Official John Reed Stark Advocates for Halting Crypto Lawsuits

John Reed Stark contends that Trump’s election signals public support for more favorable cryptocurrency regulations. He highlights the importance of respecting democratic election outcomes over concerns about digital asset risks and advocates for a temporary halt to all lawsuits targeting the cryptocurrency industry.

Altcoin Market Cap Exceeds $425 Billion for the First Time

Altcoin market value, excluding the top 10 cryptocurrencies, surpassed $425 billion last week, marking its first time reaching this level since November 2021.

Eric Trump Suggests Fair Regulation Could Establish the U.S. as a Cryptocurrency Superpower

On December 9, Eric Trump emphasized that reasonable regulations could transform the U.S. into a cryptocurrency superpower. Speaking in Abu Dhabi, he expressed his strong support for cryptocurrencies and revealed plans to position the U.S. as a global crypto hub if his father regains the presidency.

Blockstream Co-Founder Adam Back Forecasts an End to Bitcoin’s Diminishing Returns in 2-5 Years

Adam Back, co-founder of Blockstream, believes Bitcoin’s S-curve could steepen, reflecting Hal Finney’s 2009 $200 trillion market estimate. He predicts diminishing returns may reverse within 2-5 years, potentially driving accelerated growth for the cryptocurrency and opening new opportunities in the market.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.​