Market

Market Overview (Nov 25 – Dec 1): Altcoins Rebound as November Ends with Record BTC Gains

MicroStrategy buys 55.5K BTC, Solana DEXs hit $109.78B volume, ZA Bank launches crypto trading, US PCE shows inflation uptick. BTC ends November up 26K, and altcoins are recovering. Multiple token unlocks are scheduled for December.

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Last week’s Highlights Big News (November 25 – December 1)

MicroStrategy acquires an additional 55,500 BTC worth approximately $5.4 billion.

Screenshot: X (Twitter)

Solana DEXs reached a monthly trading volume exceeding $100 billion for the first time, hitting $109.78 billion in November 2024, nearly double that of Ethereum ($55 billion) and up over 100% from October.

Hong Kong’s leading digital bank, ZA Bank, launches crypto trading services in partnership with HashKey exchange. This marks the first bank in Asia to offer crypto services.

Rumble announces Bitcoin accumulation strategy, starting with up to $20 million. Rumble is a NASDAQ-listed company with a $1.6 billion market cap, providing a video-sharing platform.

Sui partners with Babylon Labs and Lombard to implement Bitcoin staking. BTC stakers will receive Lombard’s liquid staking token LBTC, issued directly on Sui.

The Strategic Bitcoin Reserve Fund bill has been submitted to Brazil’s House of Representatives.

Screenshot: Internet

Uniswap Labs announces blockchain’s largest bug bounty program, offering rewards up to $15.5 million. The program aims to enhance security for protocol v4, which handles trillions in trading volume.

Hong Kong plans to exempt crypto and alternative asset investment profits from taxation for hedge funds, private equity funds, and certain family offices, aiming to boost the city’s appeal as an asset management hub.

Macroeconomic News

US PCE Inflation October

CORE PCE Y/Y +2.8% (Forecast = 2.8%, Previous = 2.7%)
PCE Y/Y +2.3% (Forecast = 2.3%, Previous = 2.1%)

Although very close to the FED’s target, all inflation indicators – PCE, CPI, and PPI – show slight upticks.

Despite rising inflation, markets still bet that the Fed will cut interest rates again in December.

Screenshot: Investing.com

Market Overview

Bitcoin (BTC) ended November on a high note, achieving a record-breaking price increase of 26K within the month. As we enter the new week, altcoins are showing strong signs of recovery, with older cryptocurrencies leading the upward trend.

The Altcoin Season Index has reached significant levels, matching those seen during the mini-altcoin surge earlier this year.

Market activity remains strong, with exchanges receiving substantial inflows of over 154 million USD in stablecoin deposits during the last 24 hours.

Notable token unlocks in December:

Token	Amount	Unlock Date
$MAV	15.52M	December 1
$ZETA	53.89M	December 1
$SUI	64.19M	December 3
$JTO	136.55M	December 7
$XAI	35.88M	December 9
$APT	11.31M	December 11
$STRK	64M	December 15
$ARB	92.65M	December 16
$PIXEL	54.38M	December 19
$ID	78.49M	December 22
$OP	31.34M	December 30

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.