Daily Crypto Signals: Grayscale Launches New Funds, MicroStrategy Eyes Nasdaq 100, and Altcoins Surge
The cryptocurrency market witnessed significant developments today, with Grayscale Investments introducing new investment trusts, MicroStrategy approaching Nasdaq 100 inclusion, and altcoins showing strong performance across various blockchain ecosystems.
Crypto Market Developments
The scene of cryptocurrencies today was defined by calculated actions from big companies and encouraging market signals. Grayscale Investments opened two new investment trusts for Lido and Optimism governance tokens, as rumors of possible legislative changes under a Trump government surround Brian Quintenz possibly serving as the CFTC chairman.
Bitcoin Struggles at $100K
Bitcoin BTC/USD had erratic trading, peaked at $102,500, then dropped back. Positive remarks on cryptocurrencies and ideas to “do something great with crypto” by President-elect Donald Trump first raised market mood. More general market dynamics and bond market swings, however, brought some volatility; Bitcoin struggled to stay at the $100,000 level.
Ethereum Price Prediction to $7K?
Ethereum ETH/USD showed resilience, rallying 11.6% from December 10 to 12. The network saw significant developments, including:
- $557 million in spot ETF inflows
- Total value locked (TVL) surging to $78 billion
- Bitwise targeting a $7,000 ETH price, citing ETF adoption and layer-2 growth
Solana Ecosystem Registers 83% Growth
Solana SOL/USD turned out to be a particularly strong performer in developer adoption. With an 83% increase in Solana’s ecosystem, Electric Capital’s study revealed that this blockchain was the most often used among new developers in 2024. Attracting 7,625 new developers, the network somewhat exceeded Ethereum in new talent acquisition.
Cardano Rallies 26% From $0.90
Cardano ADA/USD experienced a strong recovery, rallying 26% after dropping to $0.90. Key developments include:
- Total locked value (TVL) rising from $560 million to $644 million
- Increased interest from futures traders
- Potential for further price movement pending a clear breakout
Avalanche Announces New Funding
Led by Galaxy Digital, Dragonfly, and ParaFi Capital, Avalanche revealed a major $250 million private token sale. The rise comes before the most significant update in the history of the platform—the “Avalanche9000”. Trading at $54.11, AVAX gained 13% within 24 hours.
Chainlink Touches Three-Year High
Chainlink LINK/USD continued its impressive performance, breaking a three-year price barrier. Highlights include:
- Surging over 20% in price and market cap
- Whale investors accumulating $5.69 million worth of tokens
- Price predictions suggesting potential for significant growth, with some analysts targeting a return to its all-time high of $50
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