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This Week's Crypto Recap: Key Events and Trends This summary provides a comprehensive overview of the major happenings in the crypto market last week. Here are the key takeaways: * Market Correction: Crypto prices took a hit after the US Federal Reserve's hawkish stance disappointed investors. Bitcoin fell below $100,000 after reaching new highs. * Institutional Adoption: Positive signs emerged with Deutsche Bank developing a blockchain solution and the SEC approving the first Bitcoin-Ethereum combo ETFs. * Stablecoin Growth: Ripple introduced a new US dollar-backed stablecoin, RLUSD, promoting transparency through monthly audits. * Market Volatility: The CBOE Volatility Index (VIX) surged, indicating uncertainty, but historically this has been followed by rebounds in Bitcoin and the S&P 500. * Bitcoin ETF Outflows: US-listed Bitcoin ETFs witnessed significant outflows, reflecting weakened investor sentiment. * Altcoin Market: Altcoins faced selling pressure as Bitcoin dominance increased. However, specific projects continued to attract interest. * DeFi Governance Debate: A controversial proposal in the Polygon ecosystem highlighted the importance of robust DeFi governance mechanisms. * Blockchain Advancements: Avalanche's upgrade reduced deployment costs, while Fantom's rebranding as Sonic brought faster transaction speeds. Bitcoin's Layer-2 solutions also gained traction. * NFT Success: Pudgy Penguins' token launch on Solana solidified its position as a top NFT collection. Top Performers: * Hyperliquid: This DEX platform reached record trading volumes, establishing itself as a major player in the retail derivatives market. Cryptocurrencies Mentioned: * Bitcoin (BTC) * Ethereum (ETH) * PENGU Additional Notes: * This summary uses relevant hashtags like #BTC and #HYPE. I hope this refined summary is helpful!

Introduction Stay ahead of the game with our comprehensive crypto news roundup! This weekly recap dives into the top crypto news from the past week, offering key highlights and market-moving events that shaped the industry. From groundbreaking regulatory updates to shifting trends in Bitcoin (BTC) and Ethereum (ETH) prices, this is your go-to guide for understanding what happened in the crypto market last week. Whether you’re tracking institutional adoption, analyzing market sentiment, or staying informed about blockchain innovations, this article has all the critical insights you need to make informed decisions in the ever-evolving world of crypto. Key Takeaways from the Past Week:Crypto Markets Enter Correction Mode Amid Hawkish Fed Outlook Bitcoin prices slipped below $100,000 after hitting ATHs above $108,000, as the U.S. Federal Reserve’s 25 bps rate cut and hawkish Fed view disappointed investors.Institutions Continue to Build on Public Blockchains Deutsche Bank announced the development of a Layer-2 blockchain using ZKsync for regulated finance applications, reflecting growing institutional interest in blockchain technology.Pudgy Penguins launches PENGU token on Solana. Claims are open for 88 days before unclaimed tokens are burned, adding a unique dynamic to the airdrop.SEC approves the first Bitcoin-Ethereum combo ETFs. The US SEC has approved Hashdex and Franklin Templeton launch innovative ETFs for diversified crypto exposure.Ripple Introduces RLUSD Stablecoin Ripple’s new stablecoin, RLUSD, is fully backed by U.S. dollar deposits and government bonds, with monthly audits ensuring transparency.CBOE Volatility Index (VIX) Surged 74% The VIX recorded its second-highest single-day jump in history, indicating heightened market uncertainty. Historically, such spikes are often followed by a rebound in Bitcoin and S&P 500 performance.Spot Bitcoin ETF Outflows and Declining Futures Premiums U.S.-listed Bitcoin ETFs saw record outflows of $671.9 million, signaling weakened investor confidence. CME futures premium also dropped to single digits, reflecting reduced demand.Altcoin Market Weakness Worsens As Bitcoin dominance crossed 55%, altcoins experienced a broad selloff. However, specific triggers continue to spark interest in emerging projects.DeFi Drama in Polygon Ecosystem A controversial $1.3 billion proposal by Allez Labs faced community backlash over security concerns and the lack of opt-in mechanisms. The debate raised important questions about DeFi governance.Avalanche9000 Upgrade Boosts Efficiency Avalanche introduced a significant upgrade, reducing L1 deployment costs by 99.9%. This is expected to catalyze a wave of new Avalanche subnet launches.BTC Layer-2 Ecosystem Expands Bitcoin’s Layer-2 protocols gained traction, with Babylon protocol surpassing $5 billion in TVL. BTC L2s now rank as the 4th largest ecosystem by TVL.Sonic Network Mainnet Launches Fantom’s rebranding to Sonic brought a new mainnet boasting 10,000 TPS and sub-second finality. The transition includes a $200 million token airdrop for Sonic users.NFT Ecosystem Sees Big Wins Pudgy Penguins launched the PENGU token on Solana, engaging over 7 million eligible wallets and strengthening its position as a top NFT collection. Chart of the Week: Hyperliquid Hits New Highs Hyperliquid DEX reached $78.4 billion in trading volume this December, marking its best-ever performance and positioning itself as the fifth-largest retail derivatives platform. $BTC $HYPE

It’s no secret that $USUAL is quickly becoming one of the most talked-about projects in the crypto space, and for good reason. This isn’t just another token trying to ride the hype wave, it’s a genuine innovator in the DeFi world, with features that set it apart from the crowd. If you’re looking for a project with serious potential, $USUAL should definitely be on your radar. What makes $USUAL so exciting is its community-first approach. The team has committed 90% of the token supply to the community, ensuring that the people driving the project’s success are also the ones who benefit the most. This level of transparency and fairness is rare in crypto, where many projects still lean heavily on centralized allocations. By putting power in the hands of its users, $USUAL is fostering trust and participation like few others. Then there’s its RWA-backed stablecoin, which is a game-changer. It offers the stability of real-world asset backing combined with the high yield potential that DeFi enthusiasts crave. This unique combo appeals to both crypto veterans and traditional investors, opening the door to a broader audience and increasing adoption potential. Of course, like any investment, there are risks to consider, regulatory changes, market volatility, and competition could all present challenges. But $USUAL’s strong fundamentals and rapid growth suggest it’s more than capable of navigating these hurdles. Its ability to merge traditional finance with cutting-edge blockchain technology puts it in a league of its own. For investors who want to get in on the next wave of blockchain innovation, $USUAL is a compelling choice. With its focus on community, real-world utility, and sustained growth, it’s shaping up to be a serious contender in the future of decentralized finance. The road ahead looks incredibly promising.

The US Securities and Exchange Commission (SEC) has greenlit two Bitcoin/Ether combo exchange-traded funds (ETFs) proposed by Hashdex and Franklin Templeton.  Advertisement The approval order stated that these products are "substantially similar" to the existing spot-based Bitcoin and Ethereum ETFs that were approved by the agency earlier this year. Nate Geraci, president of The ETF Store, said that it would be interesting to see if other issuers, including financial titan BlackRock, will attempt to launch similar products following the SEC's recent approval.  HOT Stories SEC Greenligths Two Crypto ETFs Shiba Inu (SHIB) Lost Major Support, XRP Bullish Formation Invalidated, Dogecoin (DOGE) Reaches Key Support Level Crypto Facing $1.2 Billion Liquidation Bloodbath as XRP, DOGE, and ADA Record Stunning Losses Bitcoin Still Viewed as Highly Speculative Asset by Most CFOs The expert has predicted that there is going to be significant demand for these products, noting that financial advisors love diversification. These are market capitalization-weighed ETFs, with Bitcoin having roughly an 80% allocation in both products.  Advertisement The recently approved ETFs will likely be launched in January, according to Bloomberg's Eric Balchunas. The SEC approved multiple Bitcoin ETFs in early 2024, setting the stage for a significant cryptocurrency rally. As reported by U.Today, US-based Bitcoin ETFs have now surpassed Satoshi Nakamoto in total holdings. Ethereum ETFs, which went live in July, had an underwhelming debut with substantial inflows. That, they recently managed to gain some traction, logging two consecutive weeks of positive flows. Some issuers also rushed to file for other altcoins ETFs, including Solana-based ones. However, the SEC recently indicated that it was not going to approve them for now.$SOL

The US Securities and Exchange Commission (SEC) has greenlit two Bitcoin/Ether combo exchange-traded funds (ETFs) proposed by Hashdex and Franklin Templeton.  Advertisement The approval order stated that these products are "substantially similar" to the existing spot-based Bitcoin and Ethereum ETFs that were approved by the agency earlier this year. Nate Geraci, president of The ETF Store, said that it would be interesting to see if other issuers, including financial titan BlackRock, will attempt to launch similar products following the SEC's recent approval.  HOT Stories SEC Greenligths Two Crypto ETFs Shiba Inu (SHIB) Lost Major Support, XRP Bullish Formation Invalidated, Dogecoin (DOGE) Reaches Key Support Level Crypto Facing $1.2 Billion Liquidation Bloodbath as XRP, DOGE, and ADA Record Stunning Losses Bitcoin Still Viewed as Highly Speculative Asset by Most CFOs The expert has predicted that there is going to be significant demand for these products, noting that financial advisors love diversification. These are market capitalization-weighed ETFs, with Bitcoin having roughly an 80% allocation in both products.  Advertisement The recently approved ETFs will likely be launched in January, according to Bloomberg's Eric Balchunas. The SEC approved multiple Bitcoin ETFs in early 2024, setting the stage for a significant cryptocurrency rally. As reported by U.Today, US-based Bitcoin ETFs have now surpassed Satoshi Nakamoto in total holdings. Ethereum ETFs, which went live in July, had an underwhelming debut with substantial inflows. That, they recently managed to gain some traction, logging two consecutive weeks of positive flows. Some issuers also rushed to file for other altcoins ETFs, including Solana-based ones. However, the SEC recently indicated that it was not going to approve them for now.$SOL