SoSo Daily Dec 17 | MicroStrategy Expands Bitcoin Holdings to 439,000 BTC with $1.5 Billion Purchase

According to sosovalue, the price of $BTC is 106,030 USD, an increase of 1.49% from yesterday. The market cap of $BTC is 2.10 trillion USD, accounting for 53.8% of the total market cap; $BTC's 24-hour trading volume is 127.42 billion USD, making up 39.6% of the total trading volume.
The price of $ETH is 3,986.4 USD, up 0.689% from yesterday; the market cap of $ETH is 480.16 billion USD, representing 12.3% of the total market cap; $ETH's 24-hour trading volume is 50.87 billion USD, comprising 15.8% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 66.1% of the total cryptocurrency market cap, and their combined trading volumes constitute 55.4% of the total trading volume.

After reviewing the overall crypto market situation, let's shift our focus to the top 5 token gainers of the day:
As of 12:00 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Vana. As of 23:50 today, its market cap is 1.04B, with a coin price of 34.447 USD, witnessing a 24-hour increase of 3340%.
The second is Moca Coin. As of 23:50 today, its coin price is 0.16920 USD, with a 24-hour increase of 74.3%.
The third is Eesee. As of 23:50 today, its coin price is 0.042750 USD, showing a 24-hour increase of 32%.
In fourth place is Moongate. As of 23:50 today, its coin price is 0.027300 USD, with a 24-hour rise of 28.2%.
In fifth place is Shadow Token. As of 23:50 today, its coin price is 1.2779 USD, increasing by 27.3% over the last 24 hours.


Moving on, let's take a look at the sector performance in crypto market.
According to sosovalue, out of 16 sectors, 6 are up and 10 are down. Notably, Others, DePIN, and SocialFi sectors are worth mentioning.
Others sector has fallen -3.01% relative to the UTC 0 time, led by declines in iris (-46.1%), key (-36.6%), and lake (-18.8%).
DePIN sector has decreased -3.27% relative to UTC 0, with DTEC (-10.9%), wsi (-10.9%), and flt (-10.7%) leading the drop.
SocialFi sector has fallen -4.77%, with gft (-67.7%), bbl (-18.9%), and cos (-14.1%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:MicroStrategy has acquired an additional 15,350 $BTC for $1.5 billion, bringing its total holdings to 439,000 $BTC, worth over $45 billion. The company has been actively purchasing bitcoin over the past six weeks, adding $17.5 billion in $BTC, which constitutes 39% of its total position. Despite concerns about its premium to NAV valuation, analysts believe MicroStrategy can continue its bitcoin acquisition strategy. The company uses a "Bitcoin Yield" metric to measure growth in holdings relative to share dilution. MicroStrategy's stock has gained significantly, and it will join the Nasdaq 100 index, potentially increasing its market liquidity and capital for further bitcoin purchases. Analysts expect more visibility and recognition, with potential S&P 500 inclusion in 2025 due to accounting rule changes for bitcoin valuations.
Next news:Bitcoin price hits a new high, surpassing $106,000. On Sunday, Bitcoin briefly fell back after reaching an all-time high of $106,352, and is currently trading at $104,700, with a 2.72% increase in the past 24 hours. Analysts believe that Bitcoin may continue to rise, driving positive market sentiment. The new all-time high for Bitcoin marks its maturation as an asset class, supported by institutional demand, ETFs, and corporate finance. Factors driving Bitcoin's rise include comments from elected President Trump about establishing a strategic cryptocurrency reserve, MicroStrategy's entry into the Nasdaq 100 index, and Riot Platforms' purchase of Bitcoin. Investors are focusing on the Federal Reserve meeting this Wednesday, where a 25 basis point rate cut is expected.
Next news:Ripple is set to launch its U.S. dollar-pegged stablecoin, RLUSD, on December 17. The stablecoin will be available on global exchanges and is fully backed by U.S. dollar deposits, government bonds, and cash equivalents. Monthly attestations of RLUSD's reserve assets will be conducted by an independent auditing firm to ensure transparency. Ripple aims to compete with other stablecoin issuers like Tether and Circle, and has chosen to launch under the NYDFS limited purpose trust company charter. RLUSD will initially be available on the XRP Ledger and Ethereum, with plans to expand to more blockchains and DeFi protocols. It will be listed on platforms such as Uphold, MoonPay, and others, with more listings expected soon. Ripple Payments plans to use RLUSD for transactions by early next year.
Next news:Riot Platforms has increased its bitcoin holdings to 17,429 $BTC by using proceeds from a recent convertible senior notes offering. The company acquired 667 $BTC at an average price of $101,135 per $BTC, raising its total bitcoin value to $1.8 billion based on the current market price of $103,873 per BTC. Previously, Riot used part of the proceeds to purchase 5,117 $BTC between December 10 and 12.
Next news:Ethena has launched a new stablecoin that is backed by BlackRock's BUIDL token. This development marks a significant step in the integration of traditional financial assets with digital currencies. The stablecoin aims to provide a reliable and stable digital cash alternative, leveraging the credibility and stability of BlackRock's financial products.
Next news:

According to Wu, Coinbase has announced support for the Parcl (PRCL) token on the Solana network, with trading set to begin on December 18, 2024, at 1 AM (UTC+8) or later, depending on liquidity conditions. The PRCL-USD trading pair will be launched in phases, and there may be restrictions in certain regions. Users must ensure they transfer funds through the correct network to avoid losing their assets.

Next news:Aave Chan, a contributor group within the Aave community, has proposed withdrawing Aave's lending services from Polygon's PoS chain. This proposal is a response to Polygon's plan to use over $1 billion in bridge assets for yield generation, which Aave Chan considers risky. Aave, a major decentralized app on Polygon, has over $466 million in deposits on the PoS chain. Marc Zeller, founder of Aave Chan, suggests phasing out Aave's lending protocols to protect against potential security risks. He proposes adjusting risk parameters for Aave's protocols on Polygon, including setting a 0% loan-to-value for all assets and increasing the reserve factor to 85%. This aims to discourage deposits and borrowing against collateral. The proposal is in response to a Pre-Polygon Improvement Proposal by Allez Labs and others, which seeks to deploy $1.3 billion in stablecoin reserves for yield strategies. Zeller opposes this, citing security risks and potential bad debt. The proposal is in the ARFC stage, awaiting community feedback and potential approval.
Next news:Ether.Fi DAO has released a proposal to allocate 5% of protocol revenue to repurchase ETHFI tokens.
Next news:

VanEck's Digital Assets Alpha Fund and VanEck Ventures have invested $2.50 million in the Solana-based DePIN project DAWN. DAWN aims to create a decentralized internet service provider. Previously, the company behind DAWN, Andrena, raised $18 million in August. (Blockworks)

Next news:Ethereum ($ETH) price breaks $4,000, with a daily increase of 1.48%. According to a PANews report on December 17, market data from OKX shows that the $ETH price has just surpassed $4,000, with the current trading price at $4,000.00 per coin.

Okay that's all for today. Thank you for tuning in, and we hope you found it helpful. Visit sosovalue.com, our one-stop financial research platform for crypto investors, to stay abreast of the latest market trends and key information. Until next time, goodbye.