Hello SnapShotters,
According to Bloomberg Analysts, MicroStrategy will likely enter the Nasdaq 100 on December 23, with estimated net buying of at least $2.1 billion in shares by exchange-traded funds (ETFs) to follow.
This would lead to the inclusion of MSTR, MicroStrategy’s stock, in some of the largest ETFs on the market, such as QQQ, currently the fifth-largest ETF. Since 2020, MSTR has gained about 2,500%, outperforming almost every major public company except Nvidia.
Read on for what else is happening in the crypto industry.
Market Spotlight
Note: Market prices captured in USD at the time of sending. Explore more on Crypto.com/Price.
Want more? Get weekly Market and DeFi Updates from Crypto.com’s Research Team.
News Snaps
🤝 Crypto.com Teams Up With Deutsche Bank
Crypto.com announced today that Deutsche Bank will provide corporate banking services for Crypto.com in Singapore, Australia, and Hong Kong, with a commitment to working closely to provide additional banking support and country coverage as the relationship progresses.
Concerns Over Google’s Willow Chip
Google’s Willow quantum computing chip release has reignited the discussion if quantum computing could threaten Bitcoin. Fortunately, experts think we are still ‘decades away’ from such a scenario, and Satoshi Nakamoto left the community guidance on what to do if quantum computing cracks Bitcoin.
🇦🇪 Crypto.com Acquires Orion Principals Ltd.
Crypto.com acquired Orion Principals Limited, an Abu Dhabi-based brokerage company that provides investment and ancillary services, and is regulated by the Abu Dhabi Global Market (ADGM).
💱 Goldman Sachs Could Consider Crypto Trading
Goldman Sachs CEO David Solomon said the firm would “evaluate” getting into Bitcoin and Ethereum if crypto regulations in the U.S. change. Solomon made the statement at Reuters Next conference earlier this week.
🏦 ETFs Now Hold More BTC Than Satoshi Nakamoto
Spot Bitcoin ETFs now hold over 1.105 million bitcoins in managed assets, which slightly surpasses the amount of 1.1 million bitcoins held by Bitcoin creator Satoshi Nakamoto. The ETFs have brought in over $2.4 billion in the past week, in part due to the meteoric rise of BTC’s price to $100,000.
What’s Ahead
Ripple’s Stablecoin Gets Green Light
Ripple’s RLUSD stablecoin secured final approval from the New York State Department of Financial Services, according to a tweet by CEO Brad Garlinghouse. He added that exchange and partner listings will be live soon.
The XRP token rallied by 10% following the announcement, and Ripple confirmed that the asset is functionally ready for the market.
Number of the Week
Chart of the Week
On December 5, Bitcoin overtook the Australian dollar (AUD) to become the world’s 10th-largest currency after its price reached $100,000, realizing $2 trillion in market capitalization.
Research & Insights
Monthly Feature Article | Pectra Upgrade
The Pectra upgrade aims to address Ethereum’s mainnet performance with three key objectives: fix existing network issues, improve user experience, and prepare for future upgrades.
Get the details in the full report here.
Crypto Trivia
What is a mainnet on a blockchain?
A) A test network used for experimenting with new features
B) The primary and fully operational blockchain network where real transactions occur
C) A network used exclusively for staking tokens
Find the correct answer at the end of this newsletter.
NFT Spotlight
Introducing ‘Ballies: Badges’ — “a revolutionary drop uniting the biggest communities in the crypto space,” which drops on Thursday, December 19. These 15,000 badges are “your golden ticket to our upcoming $BALL token IDO. This drop isn’t just about collecting — it’s about bringing together the strongest communities in Web3 under one banner.”
Ballies is a sports gaming platform, expanding into multiple games bridging Web2 with Web3 with a unique lend-to-earn protocol. The ‘Ballies: Badges’ collection features several unique designs inspired by various top projects, offering NFT holders “an exclusive opportunity to be part of something special.”
Your golden ticket to $BALLs. Blending sports excitement with cutting-edge blockchain technology.
Product Updates
Introducing the AED Fiat Wallet for UAE Users
Users with a UAE phone number can now easily deposit and withdraw AED into their Crypto.com account. Plus, AED deposits made from bank accounts in the UAE are fee-free*!. Visit the Help Centre for more details, or set up your AED Fiat Wallet.
*Crypto.com does not charge any deposit fees. However, fees may be applied by the user’s bank and/or their intermediary banks, and any such fees shall be borne by users entirely.
The TWAP Trading Bot Is Now Available in the Crypto.com Exchange App
The Time-Weighted Average Price (TWAP) Trading Bot is now available in the Crypto.com Exchange App, allowing you to execute on-the-go trades. TWAP trades are based on an average-weighted price over a specified period of time, which allows users to perform large trades at better execution prices while minimizing price slippage and market signalling. Try it out here.
Crypto.com App New Token Listings
Movement (MOVE)
The Movement Network is an Ethereum Layer-2 blockchain built on the Move programming language that allows developers to launch high-performance rollups and build secure blockchain applications.
H2 Finance (H2)
H2 Finance is the first decentralized exchange on the Cronos zkEVM blockchain, leveraging zk-enabled Layer-2 technology for faster and more secure transactions.
Magic Eden (ME)
Magic Eden is one of the largest NFT marketplaces on the Solana blockchain and embodies the powerful suite of cross chain trading, minting, and wallet protocol, allowing users to create and trade NFTs.
This is informational content only and should not be considered as an investment recommendation. Some Crypto.com products may not be available in some jurisdictions.
Crypto Learn
What Are XRP ETFs?
To date, four investment firms have filed for XRP exchange-traded fund (ETF) approvals with the U.S. Securities and Exchange Commission (SEC). XRP ETFs would allow traders to gain exposure to XRP’s price movements without directly buying, storing, or managing them.
Some key features of XRP ETFs:
Price Tracking: XRP ETFs are designed to closely mirror XRP’s price movements.
Exchange-Traded: ETFs can be traded on traditional stock exchanges.
Accessible: Institutional investors restricted from directly holding crypto could access XRP through ETFs.
Dive into the University article now to learn more.
CryptoIRL
👀 The Crypto.com Frosted Rosegold Card and @Csilla_cro hanging out at a really cool place.
Hashtag #CryptoIRL with your Crypto.com Card on your social profiles to get featured! Your 15 minutes of fame in the #CROFam awaits you!
Security Tips
Malicious Business Meeting Link Leads to Phishing Scam
A user lost $300,000 after interacting with what they thought was a work meeting link with a potential business partner. Social engineering hacks target victims by crafting industry-specific messages, often posing as legitimate meeting requests. In this case, the message, sent on X, convinced the victim to download malware designed to drain crypto wallets.
How to stay safe:
- Only use trusted platforms to verify and communicate with people you do not know.
- Avoid clicking unknown links or links from strangers.
- Double-check the identity of the person or organization contacting you through verified social media accounts.
Crypto Trivia Answer
B) The primary and fully operational blockchain network where real transactions occur
That’s it for this week’s SnapShot. Want more? Find out what’s trending in the crypto world.
