Plus: Elon Musk is now Kekius Maximus, and crypto misplaced it
GM. Fireworks? Examine. Blockchain confetti? Double examine. The Each day Squeeze is right here to gentle up your inbox with crypto sparkle this New Yr’s Eve!
🥂 Celebrating a yr that solely crypto may make this entertaining.
🎇 Firework flashes: Elon Musk is now Kekius Maximus, Blockchain Bandit is again on the town + extra
🕛 Market countdown at this time
It is that point of yr when everybody’s counting down – crypto has its personal rhythm, tho’. And let’s simply say the ultimate stretch earlier than midnight is feeling a bit tense… but nonetheless thrilling ✨
We’re ending 2024 in Greed at 64 (not a assured place, however we’re nonetheless there).
In the meantime, Bitcoin is drifting between $91K and $95K at this time – a slide off its excessive of $108,353 reached on December 17.
Analysts are watching a formation known as head-and-shoulders. No, not the shampoo – it is a chart form suggesting the worth may drop extra if it stays beneath the “neckline” (presently $92K).
And if Bitcoin retains closing beneath $92K, some predict a slide to round $80K.
On high of that, some merchants word that shorts (positions that revenue when costs go down) have been stacking up, so we’d anticipate a worth drop quickly.
We have additionally been seeing outflows from Bitcoin ETFs – $415.1M gone simply yesterday.
Including much more gasoline to the hearth, the US would possibly quickly stumble upon its borrowing restrict, and elevating that restrict (aka the debt ceiling) hasn’t traditionally executed Bitcoin any favors – it tends to underperform after these bulletins.
On the identical time, MicroStrategy purchased 2,138 BTC for $209M, Tether can also be rumored to have added $700M price of Bitcoin to its reserves – so regardless of all of the unhealthy information, the large dawgs nonetheless appear bullish.
Because the ball drops, so would possibly some costs… however that is simply a part of the crypto journey. Deliver on 2025 – we’re prepared for no matter this journey will throw our method subsequent! 🎉
🍾 Poppin’ memecoins
Neglect fireworks – these memecoins are the true rockets lighting up the market at this time 🧨
Identify
24H Change
Kekius Maximus KEKIUS
▲59K%
ZAILGO ZAILGO
▲19K%
Butthole Coin BUTTHOLE
▲183%
yesnoerror YNE
▲57%
Knowledge as of 06:30 AM EST.
Take a look at these memecoins and lots extra right here.
We made it, my loves. It was quite a bit, however we made it.
As we depend down the final seconds of 2024, let’s do a lil’ recap of the highs and lows that made this yr so particular.
The yr politics received crypto-fied
2024 was the yr when crypto stepped out of the “it is a crypto bro factor” zone and have become a political problem.
Donald Trump went full-on pro-crypto throughout his marketing campaign. And apparently, this labored – he gained the presidency and introduced alongside 50+ pro-crypto Congressional candidates.
And it wasn’t simply the US that began taking this trade severely:
The yr of ETFs
Bitcoin ETFs turned a actuality in January, and it was probably the most profitable launch of any in historical past. In lower than a yr, they’ve pulled in $108B;
Ethereum joined the ETF social gathering, too, holding $10B.
Translation: institutional buyers actually began feeling crypto.
The yr of $100K BTC
Bitcoin lastly broke previous $100K this yr – because of ETFs, institutional adoption, and the Bitcoin halving.
The yr of Gensler no extra
The SEC was ruthless this yr – they collected over $8.2B in penalties from lawsuits towards crypto corporations.
However this is a pleasant plot twist for ya – SEC Chair Gary Gensler resigned, so we’d anticipate extra respiration room in 2025.
The yr of authorized points
FTX executives found the which means of justice; most notably, Sam Bankman-Fried was sentenced to 25 years in jail;
Binance’s CZ spent 4 months in jail;
Hackers like Ilya Lichtenstein (the man behind the 2016 Bitfinex hack) confronted the implications of their actions;
Twister Money devs additionally struggled a bit of additional within the authorized division this yr – Alexey Pertsev received over 5 years, whereas Roman Storm faces expenses for cash laundering and sanction violations.
The yr of AI+Crypto
Terminal of Truths, a semi-autonomous AI agent on X, actually stole the present in 2024.
Not solely did it encourage the Goatseus Maximus (GOAT) memecoin (which, btw, went from a joke to $1B), nevertheless it additionally principally turned the face of the AI agent financial system.
The yr of movie star memecoins
Due to platforms like Pump(.)enjoyable, making your individual memecoin turned simpler than ever.
And celebrities could not resist – stars like Caitlyn Jenner, Iggy Azalea, and the Hawk Tuah woman jumped on the pattern. Fast spoiler: most of them rugged.
The yr of the comeback
Bear in mind Roaring Kitty? The 2021 GameStop quick squeeze? Ring any bells?
Effectively, he got here again in Could with one subliminal tweet, and it broke the web. Shares like GameStop and AMC skyrocketed, proving the man nonetheless has critical market affect.
The yr of livestreams
Pump(.)enjoyable tried including a livestream function this yr, and whereas it did not final, it gave us some iconic (and really regarding) moments.
Exhibit A: a 14-year-old child rugged a memecoin stay on digicam and made $54K.
It was political, it was inspiring, it was humorous – however above all, it was utterly unhinged.
Whereas it is onerous to foretell the longer term, one factor’s assured: 2025 is gonna deliver much more crypto drama. And we’re SO right here for it! 🍾
🎇 Firework flashes
🐸 Elon Musk rebranded himself on X as “Kekius Maximus” and adjusted his profile pic for a Pepe meme. Naturally, KEKIUS went to the moon, and PEPE received a 6% push (as of writing).
🦹 Blockchain Bandit is again in motion. After practically two years of silence, the hacker who stole 51K Ether by cracking weak personal keys moved all of the loot right into a single multisig pockets.
🌕 MoonPay received the approval to run as a licensed crypto enterprise within the Netherlands beneath the EU’s MiCA invoice. With this license, they’re sticking to their sport plan: making fiat-to-crypto and crypto-to-fiat swaps simple.
🚀 Hyperliquid launched native staking on its mainnet, so now you may earn rewards whereas serving to safe the community. Select your validator properly – components like uptime, charges, and group contributions are all within the combine.
🛠 Crypto pockets supplier Tangem fastened a essential app bug that collected some customers’ personal keys by way of e-mail. A Reddit thread known as them out, claiming e-mail histories saved the keys, however Tangem says the glitch of their app’s logs is fastened for good.
📝 Core DAO dropped its 2025 plans, and so they’re packed: Bitcoin-backed stablecoins, liquid staked Bitcoin, upgrades to the Core Commit program, and extra. Large yr forward!
🎉 Decision: be taught extra
Kick off the yr by discovering the OneKey crypto pockets with the newest BitDegree Mission, “OneKey, One Objective: Superior Crypto Safety”:
✨ New yr, new memes
That is a wrap for at this time’s Each day Squeeze – we’re formally hanging up our juicers for the yr (and swapping charts for champagne). From all of us at BitDegree, we want you a Joyful New Yr! 🥳 Could your wallets keep safe, your trades keep inexperienced, and your resolutions last more than every week 😋
Do not miss us an excessive amount of – we’ll be again in motion on Thursday, able to squeeze 2025’s first batch of blockchain juice only for you. Till then, keep secure, keep impressed, and do not let the bears destroy your vacation! 🪩
