It was a memorable week in crypto history, as Bitcoin surged past the $100,000 mark, achieving a $2 trillion market cap, while the U.S. government transferred $1.9 billion in seized BTC to Coinbase Prime. 

Regulatory developments included Trump’s pro-crypto appointments and the Czech Republic’s tax reforms, alongside major business moves like Grayscale’s Solana ETF filing and Binance’s DeFi push.

Bitcoin

Bitcoin ($BTC) is currently holding above $95,000, and its imminent breakout of a short-term triangle could be up or down. Meanwhile, Michael Saylor’s MicroStrategy has just bought another $1.5 billion BTC, and the U.S. Spot Bitcoin ETFs also chipped in on Monday with $ 4.22 billion in BTC.

From a high of over $98,000 on Monday, the $BTC price sank to a low of $93,600 on Tuesday. However, the bulls stepped in and buoyed the price back up to $96,700. 

Bitcoin broke through the $100,000 psychological barrier on December 5, allowing it to achieve a market capitalization of over $2 trillion.

According to blockchain firm Arkham Intelligence, the United States government has moved $1.9 billion worth of seized Bitcoin (BTC) to Coinbase Prime. 

Altcoins

Amid the highly volatile crypto landscape that includes Solana (SOL) and Cardano (ADA), a new Ethereum DeFi coin stands out with its advanced hybrid trading platform, providing an ideal blend of decentralized and centralized exchange features.

A new Ethereum-based token, Yeti Ouro (YETIO), is capturing attention, with analysts predicting it could follow Bitcoin’s parabolic trajectory in the coming years.

With its revolutionary innovations like Proof of Intelligence (PoI) and the Artificial Intelligence Virtual Machine (AIVM), Lightchain Protocol AI is working on combining blockchain and AI. 

22-year-old internet sensation known for her viral “Hawk Tuah” TikTok video, Haliey Welch, is facing criticism after her memecoin $HAWK crashed 91% post-launch amid allegations of insider trading and poor management.

Business

Joining a competitive race amid Solana’s significant market growth, Grayscale Investments has filed with the SEC to convert its Solana Trust into a spot ETF on NYSE Arca.

Web3

Backed, Chainlink, Sonic, and Fortlake Asset Management announced a partnership to tokenize Fortlake’s Sigma Opportunities Fund, marking a significant milestone in taking traditional financial assets to the blockchain.

Binance is making a bold move into decentralized finance (DeFi) with the launch of its On-Chain Yields program, set to debut on December 9. 

Camino Network is joining forces with e-money provider Monerium to advance on-chain payments in the travel industry by bringing Monerium and its popular EURe, the on-chain euro, to the Camino Network, allowing users to execute transactions for travel businesses.

The EOS blockchain has taken a significant step toward building institutional engagement by partnering with Ceffu, the institutional custody arm of Binance. 

Regulation

The Czech Republic is working on advancing legislation to simplify crypto tax obligations and abolish capital gains tax on Bitcoin (BTC) held for at least three years starting in 2025. 

President-elect Donald Trump has picked former PayPal COO David Sacks as his White House AI and Crypto Czar, which is a significant step towards overhauling US policy towards crypto. 

President-elect Trump has appointed Paul Atkins as SEC Chair in a likely shift toward clearer and more crypto-friendly regulatory policies, contrasting sharply with Gary Gensler’s enforcement-driven tenure.

Alex Mashinsky, the founder and former CEO of failed cryptocurrency lending platform Celsius Network, pleaded guilty to two counts of fraud. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 

Source: https://cryptodaily.co.uk/2024/12/crypto-weekly-roundup-bitcoin-hits-100k-hawk-tuah-meltdown-more