Bitcoin to top $110K by Jan, $20B TRX hints at ‘altseason’

As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed numerous market cycles and trends. However, the recent surge in Bitcoin and altcoins has caught my attention like never before. The meteoric rise of Bitcoin to $100,000 and Tron’s record-breaking market cap is a testament to the growing acceptance and maturity of cryptocurrencies as an asset class.

For the very first time, Bitcoin crossed the $100,000 mark historically on December 5th, fueling anticipation that its value might reach $110,000 temporarily (a “local top”) before President-elect Donald Trump assumes office on January 20th.

The enthusiasm for taking risks in the altcoin market is resurfacing, following Tron’s (TRX) achievement of over $20 billion market capitalization, which has fueled speculation about an approaching “altseason.” This optimism arises from the assumption that some Bitcoin (BTC) investors might redirect their earnings towards smaller cryptocurrencies.

Bitcoin liquidity index points to $110,000 local BTC top by January 2025

In simpler terms, Bitcoin is currently experiencing a stage in its market cycle where prices are rising steeply and rapidly, with experts predicting a peak above $110,000 by the end of January.

According to its relationship with the Global Macro Investor’s Total Liquidity Index, a measure that combines data from all significant central banks’ balance sheets, Bitcoin’s value might surpass $110,000 by the end of January.

According to Raoul Pal, founder and CEO of Global Macro Investor, he stated on November 29 that the $110,000 price is currently considered a “peak point” within this Bitcoin market cycle, when considering local values.

“There have been a lot of imitations of this chart going around with the wrong phasing. Here is the updated original from our work at Global Macro Investor.”

TRX hits $20 billion record high, flashing “altseason” signal for December

TRX has now exceeded a remarkable market value of $20 billion, which serves as yet another optimistic sign for the growth of alternative cryptocurrencies up to 2025.

On December 3 at around 10:20 am UTC, the price of Tron reached an unprecedented peak of $0.23 following a 13% increase in its value over the previous 24 hours, according to CryptoMoon’s data.

TRX is up 42% on the monthly chart and over 101% year-to-date (YTD).

TRX recently reached a record peak, and this was preceded by Tron’s founder, Justin Sun, who became the biggest backer of Donald Trump’s cryptocurrency venture following a $30 million investment in WLFI tokens on November 25th.

Curve Finance monthly revenues up more than 20% on DeFi surge

Over the last month, the decentralized trading platform known as Curve Finance has reported annualized earnings close to $37 million, based on information provided by Token Terminal.

According to Curve, there’s been an approximately 23% surge compared to the previous month, primarily due to a rise in the demand for leveraged financing and the recent introduction of the Savings vault and the scrvUSD token, as shared with CryptoMoon on December 3.

The increase we’re seeing here is consistent with the general positive sentiment in the market after the latest U.S. elections, as expressed by various sources,” stated a representative from Curve.

Vitalik Buterin urges Web3 wallets to improve security, privacy

In a blog post on December 3rd, Vitalik Buterin – one of the co-founders of Ethereum – encouraged developers of Web3 wallets to prioritize enhancing privacy and security aspects within their creations.

According to Buterin’s blog post, a user can fully utilize the benefits of decentralization, censorship resistance, security, privacy, and other features provided by Ethereum and its applications if their digital wallet shares these same attributes.

Additionally, he suggested methods for streamlining the movement of data across Ethereum’s layer-2 scaling platforms like Optimism and Arbitrum.

Tezos launches world’s first Uranium marketplace on blockchain

Uranium trading on a worldwide scale might soon incorporate blockchain technology, due to the creation of a novel platform that operates on the Tezos blockchain system.

Uranium.io, the globally pioneering blockchain platform designed for uranium trading, strives to make it simpler and more accessible for investors to participate in this market.

As an analyst, I’m excited to share that our platform is set to debut in collaboration with Curzon Uranium, a prominent player in the uranium trading market with over $1 billion in assets traded, and Archax, the pioneering UK-registered cryptocurrency exchange. This partnership, as exclusively revealed to CryptoMoon, promises an exciting future for our venture.

Arthur Breitman, a co-founder of Tezos, emphasized the possibility of transforming uranium trading by bringing transparency and ease of access into the market using blockchain technology.

DeFi market overview

Based on information from CryptoMoon Markets Pro and TradingView, it appears that the vast majority of the top 100 cryptocurrencies, ranked by market cap, concluded the week with gains.

Among the top 100 tokens, the Curve DAO Token (CRV) saw an impressive jump of nearly 120%, making it the week’s highest climber. The Hedera (HBAR) token came in second place, increasing by more than 81% over the past seven days.

Appreciate you going through our rundown of the week’s significant advancements in Decentralized Finance. Look forward to seeing you again next Friday with additional tales, perspectives, and educational content from this rapidly evolving sector.

2024-12-06 22:17

Bitcoin to top $110K by Jan, $20B TRX hints at ‘altseason’ — Finance Redefined