Recapping the Week in DeFi

As the DeFi and crypto space continues to evolve at a rapid pace, it's essential to stay informed 

about the latest developments and trends. Our weekly recap provides you with a concise yet comprehensive overview of the most significant news and trends in the DeFi and crypto space, helping you stay informed and up-to-date with the latest happenings.

Bitcoin Hits Historic $100K, Market Cap Soars Above $2T

Bitcoin has reached an all-time high of $103,900, pushing its market capitalization to $2.04 trillion and cementing its position among global financial giants. The overall crypto market has surged to a record $3.68 trillion, driven by regulatory developments, market trends, and corporate adoption. With a valuation close to Amazon and Google, Bitcoin's rapid growth highlights its potential as a store of value, though it remains smaller than the $17.7 trillion gold market.

Read the full story.

Grayscale Joins Race for Spot Solana ETF

Grayscale Investments has filed with the SEC to convert its Solana Trust into a spot Solana ETF, aiming to list it on the NYSE under the ticker GSOL. The move intensifies competition with firms like 21Shares, Canary Capital, VanEck, and Bitwise, all pursuing similar approvals.

Learn more here. 

XRP Surges to All-Time High, Becomes the Third Largest Cryptocurrency by Market Cap

XRP hit an all-time high market cap of $142 billion on December 1, surpassing Tether (USDT) to claim the third spot in cryptocurrency rankings. Currently valued at $2.43, its price is at its highest since January 2018. XRP's sharp rise, outpacing Bitcoin and other major cryptocurrencies, marks a significant milestone in its market performance.

Details in the article. 

Florida Plans Strategic Bitcoin Reserve Using $1.85B from Pension Fund 

Florida is set to establish a Bitcoin reserve by early 2025, aiming to strengthen its position as a crypto leader. Backed by state officials and blockchain advocates, Florida already holds $800 million in crypto investments. Chief Financial Officer Jimmy Patronis has urged pension fund managers to consider Bitcoin as part of the state's investment strategy.

Find more information here. 

Chainlink Partners with 21X to Launch First EU-Regulated Tokenized Securities Market

21X, a platform for tokenized money and securities, has teamed up with Chainlink to debut Europe’s first BaFin-regulated tokenized securities market. Slated for an early 2025 launch, the partnership aims to enhance financial systems with blockchain technology, boosting security, transparency, and efficiency.

Learn more.