Since late 2023 and into early 2024, the momentum of new ETH addresses has been trending upwards, with the 30-day Simple Moving Average (SMA) consistently above the 1-year SMA, indicating an expansion in on-chain activity.
ETH ETFs have seen another day of inflows yesterday with $51.1 million of recorded inflows, after having recorded their 7th consecutive week of inflows last week.
Last week alone, there were 224.9k ETH in inflows, representing over 40% of the total 553.5k ETH (over $2.2bn) held in ETH ETFs.
FTX announced it will start customer repayments on January 3, 2025, collaborating with BitGo and Kraken for asset distribution, following the court-approved reorganization plan in October.
Mt. G0x has transferred nearly 1,620 Bitcoin, worth about $172.5 million, to untagged wallets as Bitcoin nears $107,000, following a similar move with over 24,000 BTC.
The Financial Accounting Standards Board (FASB) has officially implemented fair value accounting rules for Bitcoin, effective Dec 16, 2024. This advancement is anticipated to encourage more companies to adopt Bitcoin as a reserve asset, potentially increasing its integration into corporate financial strategies. The new rule requires that cryptocurrencies meeting six specific criteria be regularly measured at fair value, with changes in value directly impacting net income. Additionally, these assets must be separately listed in financial statements.
By July 1, 2025, major banks in Russia will have to give their clients an opportunity to conduct transactions with digital rubles. Other banks have to comply a year later, and nonbank credit institutions have two more years, by July 2027. There will also be mandatory acceptance of the digital ruble by merchants over the following 3 years.
Decentralized finance (DeFi) protocol Ethena Labs launched on Dec 16 a new stablecoin product, USDtb, backed by BlackRock's tokenized money market fund BUIDL in partnership with Securitize.
