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- Crypto Alpha - 23 December 2024
Crypto Alpha - 23 December 2024
Daily Alpha on All Things Crypto, Web3 and Blockchain
TL;DR
A DOGE ETF Under Trump’s Presidency? Why Not, Right?
VanEck’s Bold Bitcoin Play: Bye-Bye, U.S. Debt?
El Salvador’s Bitcoin Buffet: 29 More, Please!
HSBC Predicts Fed Rate Cuts, but We’ll Believe It When We See It
Token Unlocks: IMX and DBX Are About to Flood the Market
USDC Treasury Keeps Printing: Another 50 Million Minted
Metaplanet Goes Big with 619.70 BTC Purchase
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Alpha of the Day
A DOGE ETF Under Trump’s Presidency? Why Not, Right?
According to a Bloomberg analyst, the possibility of a DOGE ETF might not be as far-fetched as we think—especially if Trump returns to the Oval Office. Imagine it: the most meme-worthy president overseeing the launch of a Dogecoin ETF. The markets would go wild, and Reddit would break. For the uninitiated, ETFs (exchange-traded funds) are like stock market magic, letting you invest in assets without actually holding them. Now mix that with the most beloved meme coin of all time, and you’ve got a recipe for chaos—or brilliance, depending on who you ask. Either way, DOGE enthusiasts are probably already howling with excitement.
VanEck’s Bold Bitcoin Play: Bye-Bye, U.S. Debt?
VanEck is out here playing financial superhero, claiming that a Bitcoin reserve strategy could slash U.S. debt by a staggering 35%. That’s roughly $42 trillion off Uncle Sam’s balance sheet. The idea? The government hoards Bitcoin like it’s Black Friday, and when the market goes full bull, it cashes out to cover the nation’s IOUs. Sounds simple, right? The strategy might not solve everything, but hey, if Bitcoin can save the day, maybe it’s time to start calling Satoshi Nakamoto the new Alexander Hamilton.
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El Salvador’s Bitcoin Buffet: 29 More, Please!
El Salvador is back on its Bitcoin-buying spree, snatching up 29 additional BTC this week. That brings its total stash to an impressive 5,995 BTC. President Bukele’s “all-in on Bitcoin” strategy has been raising eyebrows, but it seems the man is sticking to his guns—or, rather, his digital wallets. The move comes just weeks after the country inked a loan deal with the IMF, leaving everyone wondering: Are they using some of that cash to stock up on crypto? Either way, El Salvador remains the ultimate Bitcoin fanboy.
HSBC Predicts Fed Rate Cuts, but We’ll Believe It When We See It
HSBC is holding onto its crystal ball, predicting a 75 basis point interest rate cut by the Federal Reserve in 2025. While this sounds great for borrowers and businesses, skeptics are raising an eyebrow or two. Rate cuts could mean cheaper money, but they also scream, “The economy needs help!” Still, if HSBC’s forecast pans out, it might just give crypto bulls another reason to cheer, as lower rates often mean more liquidity for risky assets. Fingers crossed!
Token Unlocks: IMX and DBX Are About to Flood the Market
Brace yourselves—this week will see major token unlocks for IMX, DBX, and others, potentially shaking up the crypto landscape. For those unfamiliar, token unlocks mean large amounts of previously locked-up tokens are hitting the market, often causing prices to wobble. Think of it like a giant piñata bursting open, but instead of candy, it’s crypto. Traders are already prepping for the volatility, while others are just here for the drama. Either way, it’s going to be a wild ride.
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USDC Treasury Keeps Printing: Another 50 Million Minted
The USDC Treasury decided today was a good day to press "print," minting an additional 50 million USDC on Ethereum. Stablecoin fans are celebrating the fresh liquidity, but critics are side-eyeing the never-ending issuance. USDC, pegged to the dollar, is meant to be the “safe bet” of crypto, but even safety can raise questions when minting seems too frequent. Still, with $50 million more in the mix, the market is ready for action—or at least a few well-funded trades.
Metaplanet Goes Big with 619.70 BTC Purchase
Metaplanet just made a splashy purchase, scooping up 619.70 BTC in one go. With Bitcoin prices being as unpredictable as a cat on caffeine, this move shows some serious confidence—or some next-level HODL mentality. The acquisition adds another layer to the growing corporate interest in crypto, with Metaplanet proving it’s not just another planet in the crypto galaxy; it’s aiming to be the sun. As for what’s next, one thing’s for sure: they’re not afraid to make bold moves.
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Daily #Crypto Alpha | December 23 2024… x.com/i/web/status/1…
— WAGMI | Crypto, DeFi & Web3 News (@wagmiglobal_)
3:22 PM • Dec 23, 2024
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