13h16 ▪
6
min reading ▪ by
Luc Jose A.
Between revolutionary announcements, technological developments and regulatory turbulence, the crypto ecosystem continues to prove that it is both a territory of limitless innovation and a field of regulatory and economic battles. Here is a summary of the most notable news from the past week around Bitcoin, Ethereum, Binance and Solana, and Ripple.
El Salvador boosts its crypto hoard with 6,000 BTC
El Salvador, under the leadership of President Nayib Bukele, reached a symbolic milestone by accumulating 6,000.77 BTC in its national reserve, valued at approximately $569.3 million. Since 2021, when Bitcoin became legal tender in the country, the government has pursued a gradual purchasing strategy at an average cost of $45,450 per unit. This policy, supported by the National Bitcoin Office, is currently generating an impressive 108% return. However, it arouses international criticism, notably from the IMF, which warns of the risks of such exposure. Despite the warnings, El Salvador aims to become a key player in the global cryptosphere, increasing strategic partnerships to strengthen its crypto infrastructure and attract foreign investors. However, questions persist about the viability of this strategy in the long term, due to tensions with international financial institutions and challenges related to local adoption.
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Solana Dominates Ethereum on DEXs for the Third Month in a Row
In December 2024, Solana solidified its dominance on decentralized exchanges (DEXs) with trading volume reaching $97 billion, once again surpassing Ethereum at $74 billion. This performance marks the third consecutive month that Solana has outperformed Ethereum, supported by the rise of memecoins like Bonk, Dogwifhat and Popcat, which total a capitalization of more than $14.1 billion. Solana benefited from the popularity of Pump.fun, a token generator, and its low transaction fees, attracting a massive influx of projects and capital. In November, Solana’s applications generated a record revenue of $365 million, highlighting the robustness of its ecosystem. With such momentum, Solana emerges as a potential leader against Ethereum in the DEX sector.
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Bitcoin Runes Plunge to All-Time Low
Runes transactions on the Bitcoin network have fallen to an all-time low, representing only 1.67% of daily transactions. This decline marks a striking contrast with the period from April to November 2024, when they frequently exceeded 50%. Fees associated with Runes transactions have also remained below $250,000 per day, indicating minimal activity. Several factors explain this trend: the volatility of Bitcoin prices, which diverts investors towards less risky assets, and the growing interest in sectors like Ethereum NFTs, memecoins and artificial intelligence projects. However, a stabilization of BTC prices or the festive end-of-year rally, where Bitcoin approaches $100,000, could give new impetus to these experimental protocols.
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Ripple’s RLUSD revolutionizes stablecoins with meteoric growth
RLUSD, Ripple’s stablecoin backed by the US dollar, is experiencing spectacular growth, recording a trading volume of $39 million in 24 hours, an increase of 106%. Available on XRP Ledger and Ethereum, this stablecoin stands out for its versatility and powers varied use cases such as fast cross-border payments, decentralized banking solutions and intensive trading on platforms such as Bullish and Independent Reserve. The RLUSD/USDC, BTC/RLUSD and XRP/RLUSD pairs dominate these exchanges. By integrating major platforms like Uphold, MoonPay and Bitso, Ripple aims to broaden the adoption of its stablecoin beyond trading, targeting a complete ecosystem encompassing decentralized finance and global payments. This success could inspire other players to adopt similar strategies, strengthening the role of stablecoins in modern financial markets.
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Bitcoin Reserves on Binance Hit All-Time Low
Bitcoin reserves on Binance have plunged below 570,000 BTC, their lowest level since January 2024. This phenomenon, coupled with the withdrawal of BTC to cold wallets, reflects growing investor confidence in the long-term outlook. term of the flagship crypto. Historically, such moves have often preceded significant bull rallies, such as earlier this year, where a similar decline led to a surge in BTC prices, reaching as high as $73,679. While Bitcoin’s dominance stagnates at 58.4%, the market anticipates a potential rebound beyond $100,000, especially as investors seem to be positioning themselves for a post-festive recovery. If history repeats itself, Bitcoin could well mark new highs in the months to come.
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This is the main thing to remember for this week. But if you want a more detailed recap and in-depth analysis delivered straight to your inbox, be sure to subscribe to our weekly newsletter.
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Luc Jose A.
A graduate of Sciences Po Toulouse and holder of a blockchain consultant certification issued by Alyra, I joined the Cointribune adventure in 2019. Convinced of the potential of blockchain to transform many sectors of the economy, I took the commitment to raise awareness and inform the general public about this constantly evolving ecosystem. My goal is to enable everyone to better understand blockchain and seize the opportunities it offers. I strive every day to provide an objective analysis of current events, to decipher market trends, to relay the latest technological innovations and to put into perspective the economic and societal issues of this ongoing revolution.
