SnapShot 186

Crypto market cap grows 99%, BTC-gold ratio hits historical peak, first blockchain satellite launched

Hello SnapShotters,

‘Twas a good year. In 2024, the crypto market cap doubled, BTC and ETH spot ETFs saw their U.S. launch, and Bitcoin reached new ATHs beyond $100,000 – to name but a few of the highlights the industry experienced.

In the final 2024 edition of Snapshot, we bring you the year’s last highlights, including the Bitcoin-to-gold ratio hitting a new, historical peak, proposals by MicroStrategy and VanEck for a U.S. Bitcoin strategy, and Unichain’s upcoming mainnet launch.

Read on for more festive news.

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 Launches U.S. Trust Company

In another major milestone, Crypto.com this week announced the launch of its U.S. trust company, Crypto.com Custody Trust Company. By receiving a trust company charter, Crypto.com can offer custody services to eligible U.S. and Canadian institutions and high net worth clients. 

🇺🇲 Saylor Pitches U.S. Crypto Framework

MicroStrategy founder Michael Saylor has proposed a six-point Digital Assets Framework for the United States that includes establishing a Bitcoin reserve he claims could create as much as $81 trillion for the country’s Treasury.

₿ Bitcoin Reserve Could Cut U.S. Debt

Simultaneously, VanEck also suggested that the U.S. national debt could be reduced by 35% in the next 24 years, if the country holds 1 million bitcoins. The proposal stems from the projected compounded annual rate of 25% for the asset, as compared to the 5% growth rate of the accumulated debt.

🏈 Crypto.com Launches Sports Event Trading

Sports Event Trading, the first and only sports outcome market regulated nationwide in the U.S., is now live on Crypto.com. Users can trade with simple yes/no decisions. More details below.

📉 Metaplanet Buys the Dip
As Bitcoin traded below $100,000, Japanese investment firm Metaplanet announced that it made its largest-ever BTC purchase, scooping up almost 620 coins worth just under $60 million.

🚀 Decentralized Satellites Aim for the Moon

Space-based blockchain project, Spacecoin XYZ, launched its first satellite via SpaceX, marking the start of blockchain networks being utilized in space. The team’s eventual goal is to create tamper-proof space data centers for decentralized infrastructures.

🎁 Giving Back This Holiday Season

Crypto.com was proud to announce earlier this week an integration with the Salvation Army to allow customers in Singapore to make donations in their favorite cryptocurrencies. Salvation Army Singapore will receive the funds in SGD, enabling them to support vulnerable groups over the holiday season.

What’s Ahead

Unichain Mainnet Launch in Early 2025

Unichain, a DeFi-focused Layer-2 developed by Uniswap, is expected to launch its public mainnet in early 2025. The developers plan to integrate permissionless fault proofs from day one of the mainnet launch.

Number of the Week

Chart of the Week

The BTC-to-gold ratio, which measures the number of ounces of gold one BTC can buy, hit a historical peak of 40.1 on 17 December. This coincided with BTC reaching a new all-time-high above $108,000 and exceeded the previous peak of 37.2 reached in October 2021.

Research & Insights

In 2024, the crypto industry witnessed more impressive milestones than in the previous year. In this report, we curate the top crypto events and trends of 2024, followed by our outlook for 2025.

Read the report.

Crypto Trivia

What are tokenomics?

A. The process of mining tokens

B. A popular strategy for trading cryptocurrencies

C. The economic structure and design of a crypto token, including supply, utility, and distribution

Find the correct answer at the end of this newsletter.

NFT Spotlight

‘Vikings Nation’, the sequel to the ‘Brave Legends’ NFT collection, is “a unique and dynamic collection” that brings together various themed ‘Nations’, each with its own distinct characteristics and traits. The collection features 50 ‘Viking Nation’ Legends and drops on Monday, December 30.

The BRAVE team’s vision goes beyond just this drop. “We plan to create a Brave new world where digital artistry and blockchain technology converge to expand the boundaries of creativity and courage. We aim to revolutionize NFTs and aim to build a unique ecosystem to take NFT utility to greater heights.” 

Collecting Brave Legends gives access to rare NFTs and unlocks rewards like the Brave Vault Raffle Spin, Buy Back and Burn events, and exclusive access to contests like the Sweep Event and Brave Saga. Holding multiple Brave Legends NFTs elevates your role in the Brave community, granting access to higher-tier rewards such as custom NFTs, banners and much more.

Holders of Brave Legends NFTs can unlock exclusive roles within the Brave ecosystem, earn monthly rewards, and participate in exciting events like raffle spins, sweepstakes, contests, and token burns.

Be Brave. To everyone who loves art.

Product Updates

Sports Event Trading is Live Across the U.S.

Predicting the outcome of The Big Game just got a lot more interesting. Introducing Sports Event Trading, the first and only sports outcome market regulated nationwide in the U.S., enabling you to turn correct predictions into profit. Trade with simple yes/no decisions, USD or convert into crypto and enjoy quick payments for every correct contract you own. Learn more here.

DeFi Crypto Basket Now Available 

With the DeFi basket, you’ll be able to purchase ETH, LINK, UNI, AAVE with one tap. Additionally, automatically buy low and sell high by enabling auto-rebalancing and track your basket performance separately from your other holdings. Try it here. 

Mane City Marketplace Introduces A New Auction System

The new market Auction system ensures that items in the market are priced fairly yet competitively. With this new auction system, all users with sufficient vouchers will be able to bid on each item listed. If no bid is placed on the first day, the item will move to the market. For more details, visit the blog. Play Mane City for free on your desktop. 

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

Back to Basics: Bitcoin (BTC) and Bitcoin Cash (BCH)

Did you know Bitcoin (BTC) and Bitcoin Cash (BCH) share the same code? BCH was created by a hard fork in Bitcoin to expand the network’s scalability and increase transaction speed. Here’s how they differ:

These cryptocurrencies were designed to offer distinct solutions to the space. 

Start the new year with a fresh understanding of Bitcoin and Bitcoin Cash.

CryptoIRL

Over the mountains, indeed, @ExplorerDavid! And down and sideways and then back up and over again and down again and then over again — the Crypto.com Icy White Card goes anywhere and everywhere, no matter the path.

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

“Newbies” Target Crypto Users to Steal Funds

Scammers are posing as beginners seeking help to withdraw funds from wallets on platforms like YouTube. They ask users to pay gas fees, but these wallets are set up with a multi-signature configuration, blocking transfers unless users send more funds, which are then stolen.

Crypto scams have caused $2.3 billion in losses this year. While the number has fallen by 37% from 2022, scams are growing more sophisticated, targeting individuals and institutions with tactics like phishing, rug pulls, and malware. 

Here’s how to stay safe: 

1. Avoid sending funds to people you do not trust.
2. Stay updated with the latest scams.
3. If you suspect you have been scammed, contact your local authorities at once.

Crypto Trivia Answer

C. Tokenomics are the economic structure and design of a crypto token, including supply, utility, and distribution

That’s it for this week’s SnapShot. Want more? Find out what’s trending in the crypto world.