Hello SnapShotters,
Bitcoin’s price is headed toward $100,000 as the momentum continues. BTC traded up to the $93,900 level for the first time on Tuesday, as BlackRock’s IBIT options on spot Bitcoin ETFs hit the market. By Thursday, Bitcoin’s price had climbed to $98,800. Amid the price rally, U.S. spot Bitcoin ETFs topped $100 billion in assets under management.
Despite the price gains, whale acquisitions dominated the news: Japan’s Metaplanet shares jumped 15% after the firm added 124 BTC to its treasury, while MicroStrategy added 51,780 BTC, worth around $4.6 billion, to its holdings.
Solana also reached a new ATH on Thursday night, while XRP hit a three year high, and Ethereum crossed $3,400.
Read on for the details.
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
Bullishly Focused on Our Roadmap
We are pursuing the vision laid out in our 2025 Roadmap and have already achieved significant milestones.
Over this past week, Crypto.com acquired trading and brokerage firm Fintek Securities, as well as financial exchange and brokerage service provider Charterprime. Both of these acquisitions will enable Crypto.com to provide eligible users in select jurisdictions a broader offering of financial products, including securities, derivatives, and more.
📊 BlackRock BTC Options Break Records
On Tuesday, investment company BlackRock saw an ‘unheard of’ $1.9 billion in options contracts traded on its spot Bitcoin ETFs. Some industry experts believe that the launch propelled BTC to its then all-time high of $93,000 on the same day before climbing to $98,800 on Thursday.
🚀SOL Reaches New ATH
Solana set a new all-time high of $263 on Thursday night, fueled by a weeks-long market rally. XRP also hit a three year high amid surging futures open interest, and Ethereum crossed $3,400 on the same day.
📊 Companies Start Adopting BTC
The rise in the value of BTC has attracted companies to adopt it as an inflation hedge. Healthcare company Cosmos Health announced it will add the asset to its balance sheet, while Microsoft’s investors will vote on adding BTC to its treasury.
What’s Ahead
🗓️ Emergence 2024 to Take Place in Prague
Emergence 2024, organized by The Block, will take place in Prague from December 5–6. The inaugural event will touch on the opportunities and challenges that the Web3 industry faces, as well as insights into global crypto developments.
Number of the Week
Chart of the Week
Last week, Bitcoin overtook silver and Saudi Aramco’s stock as the seventh-largest asset by market capitalization, as its price rose to a new all-time high above $93,000 on November 13.
Crypto Trivia
How much BTC does MicroStrategy reportedly own?
A) 257,200
B) 550,500
C) 331,200
Find the correct answer at the end of this newsletter.
NFT Spotlight
“Embark on an epic journey with Miguel, the legendary figure who defied all odds to break free from his chains,” in Leugim’s latest NFT contribution ‘Free Miguel’, which drops on Wednesday, November 27.
The limited-edition collection of 500 “celebrates Miguel’s daring escape and the unwavering support of 26 different Cronos projects that helped him along the way.” Each NFT “captures a unique moment in Miguel’s story — his rise from captivity, his alliances with powerful partners, and his eventual triumph.”
These NFTs “are more than just collectibles; they are pieces of Miguel’s legendary journey, immortalized on the blockchain.”
Free Miguel.
Product Updates
Earn Up to 15% p.a. on USDT With Earn Plus
USDT is now available on Earn Plus. Enjoy a high rewards rate of up to 15% p.a., higher allocation limits of up to $2 million, no tiered rewards quota, and additional Rewards+ program benefits. Start allocating to earn higher rewards now! For more information on Earn Plus, visit the FAQ.
The DeFi Wallet Is Now Crypto.com Onchain
The DeFi Wallet is stepping into a new era with a fresh identity: Crypto.com Onchain! Renamed to better reflect the vision of it being the only wallet you need to connect to the decentralized world, Crypto.com Onchain offers a full suite of best-in-class features spanning DeFi, dapps, and trading. Follow us at our new X handle (@Onchain_Wallet) for the latest news and updates. For more information, click here.
Crypto.com App New Token Listings
Capybara Token (BARA)
Capybara Nation is a tap-to-earn game on Telegram where players can build and manage their own nation. Players who stake their BARA will earn rewards by completing quests and participating in in-game activities.
Chill Guy (CHILLGUY)
Chill Guy is a meme coin on the Solana blockchain that features a character of a dog in human-like clothing that has become popular on TikTok.
This is informational content only is not and should not be considered as an investment recommendation. Some Crypto.com products may not be available in some jurisdictions.
Crypto Learn
An Introduction to Automated Trading Tools
Automated trading goes beyond efficiency — it helps eliminate emotional decision-making, promote disciplined investing, and ensure no opportunities are missed in dynamic markets.
The Crypto.com App simplifies trading with these automated tools:
Target Price Orders: Buy or sell when your target price is reached.
Recurring Buy: Automates Dollar Cost Averaging (DCA) for consistent, long-term investments.
Time-Weighted Average Price (TWAP): Divides large trades over time to minimize market impact.Learn about these tools to boost your trading efficiency.
CryptoIRL
More to come, indeed. The Crypto.com Obsidian Visa Card and @SantoshiOG pristinely living the crypto lifestyle.
Hashtag #CryptoIRL with your Crypto.com Visa Card on your social profiles to get featured! Your 15 minutes of fame in the #CROFam awaits you!
Security Tips
YouTuber Tied to South Korea’s Biggest Crypto Scam
A YouTuber and his accomplices allegedly scammed 15,304 people out of $232.7 million by promoting dozens of cryptocurrencies from 2021 to 2023, targeting middle-aged and elderly victims.
Out of the tokens, six were created and manipulated by the group, while the rest were reportedly of little value. Some victims paid $854,000 and were urged to sell their homes to invest.
Here’s how to stay safe from scams:
1. Do not invest more than you can.
2. Do ample research before you commit your money.
3. Be skeptical of investments promising high returns.
Crypto Trivia Answer
C) MicroStrategy reportedly owns 331,200 bitcoins (as of November 18, 2024)
That’s it for this week’s SnapShot. Want more? Find out what’s trending in the crypto world.
