Hello SnapShotters,
There’s something about November: On November 27, 2013, Bitcoin hit $1,000. On November 30, 2017, Bitcoin hit $10,000. And on November 22, 2024, Bitcoin set a new all-time high (ATH) just a few hundred dollars shy of $100,000.
Many long-term holders of BTC have used Bitcoin’s rally over the past week to realize gains — selling over 728,000 BTC, worth nearly $67 billion at the current price.
And exciting sports news: Crypto.com Showdown — featuring the biggest stars from the PGA Tour and LIV Golf — will be the first-ever major golf tournament with a multimillion-dollar purse to be paid in CRO.
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
CRO Fam Teeing Off for Inaugural Crypto.com Showdown
This week, Crypto.com was announced as the inaugural title sponsor of the Crypto.com Showdown — the much-anticipated matchup of the biggest stars from the PGA Tour and LIV Golf. Notably, this will be the first-ever major golf tournament with a multimillion-dollar purse to be paid in CRO.
🚀 Solana DEX Volume Hits $100 Billion
The trading volume of Solana DEXs crossed the $100 billion milestone in monthly trading volume for November — nearly twice that of Ethereum’s DEX volume. Tokens minted on pump.fun account for 62.1% of the activity.
🐕 First Dogecoin ETP Launched
The first Dogecoin ETP went live on Sweden’s Spotlight stock market, offering local Nordic investors exposure to the altcoin. The success of current crypto ETFs has driven demand for alternatives, including XRP ETFs.
🤝 Mastercard x JPMorgan
Mastercard’s Multi-Token Network (MTN) is connecting with JPMorgan’s Kinexys Digital Payments for a new business-to-business cross-border blockchain payment solution, which aims to improve settlement speed and transparency.
⚖️ Victory in Tornado Cash Case
Tornado Cash users have scored a major victory in the United States’ Fifth Circuit Court of Appeals. A three-judge panel ruled that the Office of Foreign Assets Control (OFAC) exceeded its authority in sanctioning Tornado Cash’s immutable smart contracts — reversing a lower court’s decision.
What’s Ahead
🇺🇲 Solana ETFs
Cboe BZX Exchange submitted four 19b-4 filings for VanEck, Bitwise, 21Shares, and Canary Capital to list spot Solana ETFs to the U.S. Securities and Exchange Commission (SEC). In addition, Bitwise filed an S-1 for its Bitwise Solana ETF.
Number of the Week
Chart of the Week
BTC and ETH futures open interest (OI) on exchanges both hit record highs last week, according to data from CoinGlass. BTC recorded an all-time high OI of $63.5 billion on November 23, while ETH recorded an all-time high OI of $20.8 billion on November 24.
Crypto Trivia
What is open interest (OI) in crypto trading?
A) The total number of unique cryptocurrency tokens currently in circulation
B) The number of outstanding derivatives contracts (such as futures or options) that have not been settled or closed
C) The percentage of traders actively monitoring market trends
Find the correct answer at the end of this newsletter.
NFT Spotlight
Enter the world of artist Matt Sassari with his NFT collection ‘Matt Sassari NFT Sample Pack’, which drops on Wednesday, December 4. “This collection offers rare access to Matt Sassari’s creative process, exclusive content, and experiences to elevate your music production and fan engagement,” including “meticulously crafted” loops and one-shots. “[T]his collection embodies his dynamic style and unmatched creativity. Matt Sassari’s signature touch extends beyond the audio realm, as he shares his production secrets and insights via a production masterclass.”
Sassari’s “unique blend of Techno and Tech House made his first top 1 overall beatport chart with ‘Put A Record On’ in 2019.” In collaboration with Sample Tools, the “world-renowned dance music record label Cr2 Records,” the collection “brings the label’s reputation for quality forward-thinking dance music into the sample pack world.”
And into Web3.
Sample the samples. Embark on a sonic journey.
Product Updates
Crypto.com Earn Limited-Time Offer: Receive 20% p.a. on CRO
Our most generous offer is back! You can now receive up to 20% p.a. on a CRO 12-month fixed-term plan on Crypto.com Earn with no allocation cap or tiered rewards structure. This offer will end on December 3, 2024, 7:00 UTC. So start earning and allocate now. This offer is only available in select jurisdictions. For more details on this limited offer, visit the blog here. Terms and Conditions apply.
Liquid Staking for SOL Is Now Available in the Crypto.com App
In liquid staking, users can wrap their staked virtual assets and receive a receipt token that continues to benefit from accruing staking rewards. This provides users with access to their funds while their virtual assets are still staked. Reap the benefits of liquid staking for Solana (SOL) by wrapping your staked SOL for the receipt token Crypto.com Staked SOL (CDCSOL*).
*CDCSOL is only available in select jurisdictions. Visit our FAQ for more information. Terms and Conditions apply.
Crypto.com App New Token Listings
Zircuit (ZRC)
Zircuit is a Layer-2 (L2) ZK rollup blockchain platform for decentralized applications (dapps) on Ethereum that incorporates parallelized circuits and AI-powered security, enhancing scalability and transaction throughput to while maintaining robust security of the network.
Big Dog Fink (BINK)
BINK is a meme coin featuring a dog that presents itself as the “Treasury Secretary of the Department of Government Efficiency (D.O.G.E.).”
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
Four Reasons to Protect Your Crypto With Passkeys
Passkeys are a modern, secure login solution built on WebAuthn, a system that uses digital signatures instead of traditional passwords. Here is why more and more crypto holders are using Passkeys to secure their assets:
Phish-proof: Passkeys use cryptographic key pairs, making them resistant to phishing and credential theft.
Convenient: There is no need to remember or manage complex passwords.
Secure: They eliminate the risk of password reuse and, therefore, password theft by assigning unique Passkeys to each account.
Seamless: Passkeys enable single sign-on across devices and platforms for easy authentication.
Read how Passkeys can help improve your security.
Security Tips
Scammer Returns $129 Million in USDT to Victim
In a strange turn of events, $129 million in USDT was returned to its original owner hours after it was transferred. The sender was reported to have fallen for a common phishing scam, copying a fraudulent wallet address almost identical to the intended one.
Here’s how to stay safe:
- Double-check wallet addresses before sending funds.
- Avoid copying addresses from suspicious sources.
- Use platforms with address verification systems when handling large transactions.
Crypto Trivia Answer
B) The number of outstanding derivatives contracts (such as futures or options) that have not been settled or closed
That’s it for this week’s SnapShot. Want more? Find out what’s trending in the crypto world.
