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OVERVIEW

Bulls And Bears Bloody Battle Before $100k 🥊

Before we dive in, here’s today’s crypto market heatmap:

And here’s a look at crypto’s total and altcoin market cap YTD:

New In Three Sentences
Crypto News 📰

📈 SEC Talks Progress on Solana Spot ETF Filings

The SEC is engaging with issuers like VanEck, 21Shares, and Bitwise for potential Solana spot ETFs, signaling a shift in dialogue as 19b4 filings may appear soon. While past attempts were stonewalled, industry optimism grows with a pro-crypto administration in 2025. Approval isn't guaranteed, but this could mark a turning point for Solana ETFs. Eleanor Terrett’s X.

☕ Doodles Partners with McDonald’s for NFT-Branded Coffee Cups

McDonald’s launches 110 million coffee cups featuring Doodles artwork, marking one of the largest Web3 collaborations to date. The campaign includes exclusive merchandise, digital collectibles, and Doodles-themed content, driving NFT adoption through everyday experiences. Cointelegraph.

🛠️ Sui Network Suffers Bug-Induced Outage, Recovers in Two Hours

A bug in Sui Network’s transaction scheduling logic caused a two-hour mainnet outage, temporarily halting transactions. The issue was swiftly resolved by Sui validators, but the disruption led to a brief 10% price dip in SUI tokens. Despite the setback, Sui’s DeFi ecosystem remains strong with over $1.6 billion in total value locked. Cryptopotato.

⚖️ Shanghai Court Says Crypto Ownership is Legal in China

A Shanghai court clarified that personal cryptocurrency ownership is legal under Chinese law, despite the ongoing ban on crypto-related business activities. The court recognized crypto as a virtual commodity with property attributes, offering clarity amid a record-setting Bitcoin price surge. While individuals can hold crypto, speculative trading, and business use remain strictly prohibited. SCMP.

📢 Gary Gensler to Step Down as SEC Chair at End of Biden Administration

SEC Chair Gary Gensler announced he will leave his position on January 20, 2025, marking the end of a contentious (that’s putting it lightly) tenure defined by aggressive rulemaking and crypto enforcement. His departure aligns with the Biden administration's close and could halt the SEC's crackdown on crypto firms under a pro-crypto Trump presidency. WSJ.

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