Bitcoin Price: US$ 97,985.00 (+0.22%)
Ethereum Price: US$ 3,361.20 (-0.96%)
Avalanche has launched the Avalanche9000 upgrade on the Fuji testnet, with a mainnet launch planned soon. The upgrade aims to reduce deployment costs by 99.9%, enable interchain communication, and unlock over $40 million in retroactive rewards for developers, while also rebranding subnets to layer 1s and enhancing validator management. In November, decentralised finance (DeFi) tokens such as CRV, ENA, DYDX, and LDO saw significant gains of over 50%, bringing the total value locked in DeFi protocols to $118.4 billion, the highest in three years. This increase reflects investor optimism following the U.S. elections and hopes for regulatory clarity in the crypto space. WisdomTree Funds has filed for an XRP ETF in Delaware, joining firms like Bitwise and Canary Capital in the race for U.S. approval. The filing is spurred by Ripple’s partial legal victory in its battle with the SEC, and analysts anticipate that a shift in regulatory approaches under President-elect Donald Trump could accelerate the approval of an XRP ETF.
Sui is set to launch Bitcoin staking in collaboration with Babylon Labs and Lombard Protocol starting in December. This will allow Bitcoin holders to stake BTC and mint LBTC, a liquid staking token, with the goal of integrating Bitcoin liquidity into Sui’s decentralised finance (DeFi) ecosystem to boost lending, borrowing, and trading opportunities. MicroStrategy expanded its holdings by acquiring 55,000 BTC for $5.4 billion between Nov. 18 and 24, bringing its total to 386,700 BTC. This purchase, funded through private offerings and equity sales, demonstrates the firm’s confidence in Bitcoin’s growth potential. Similarly, Semler Scientific, a U.S.-based healthcare company, purchased 297 BTC for $29.1 million, increasing its total holdings to 1,570 BTC, while expanding its equity program to $100 million. Bitcoin exchange-traded funds (ETFs) saw record inflows of $3.38 billion for the week of Nov. 18–22, marking a 102% increase from the previous week, with BlackRock’s iShares Bitcoin Trust leading the charge with $48.95 billion in net assets. Year-to-date, digital asset investment products have attracted $37 billion in inflows, surpassing gold ETFs, although some countries, including Germany, Sweden, and Switzerland, saw outflows. On Nov. 22, Bitcoin reached a new all-time high of $99,655 before experiencing a slight correction, currently trading at $98,459.
Pump.fun, a decentralised platform for Solana-based memecoins, has faced backlash after users allegedly streamed harmful content, including threats of suicide and violence, prompting calls from the community for stronger moderation or the shutdown of its livestream feature. In a separate development, Sky Mavis, the company behind Axie Infinity and the Ronin blockchain, has laid off 21% of its workforce as part of a strategic realignment. The company is focusing on new projects, including a new game and enhancements to the Ronin Network, despite the decline in value of Axie Infinity’s tokens and NFTs. Meanwhile, Australia’s Treasury Department is consulting on implementing the OECD’s Crypto-Asset Reporting Framework (CARF) to improve tax transparency and combat crypto-related tax evasion. Expected to be adopted by 2026, it will require crypto exchanges and wallet providers to report specific transaction data to tax authorities in line with global reporting standards.
Source: https://cointelegraph.com
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