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- 🚨 MicroStrategy's Bitcoin Bet Continues: What's Next After Buying 55,500 BTC?
🚨 MicroStrategy's Bitcoin Bet Continues: What's Next After Buying 55,500 BTC?
News
Crypto payments firm Ripple on Monday announced its first tokenized money market fund in partnership with FCA-regulated crypto exchange Archax and UK asset manager abrdn. The tokenized money market fund will be available on the XRP Ledger (XRPL) blockchain. Traders reacted immediately as XRP price saw a 6% jump today.
In a press release, MicroStrategy announced that it acquired another 55,500 BTC between November 18 and 24 for an average price of $97,862 per bitcoin and has now achieved a BTC yield of 35.2% quarter-to-date (QTD) and 59.3% year-to-date (YTD).
Operating within the memecoin sector, Pepe Unchained utilizes Layer 2 blockchain solutions to improve efficiency and utility. By focusing on scalability and faster transaction processing, this approach aims to mitigate the congestion and delays often experienced during high-traffic periods in blockchain networks.
Markets
The crypto prices today have triggered global investor speculations as Bitcoin (BTC) and major altcoins showed weakening price trends. Meanwhile, The Sandbox (SAND) and Decentraland (MANA) emerged as top gainers. The selloff is likely due to Bitcoin pullback.
The global crypto market value dropped 2% to $3.3 trillion, while total market volume declined 5%, now at $200 billion. Crypto market sentiment dropped to 82 ‘extreme greed’ from 94 last week.
After approaching $99,690, BTC suffered a 4% retracement, but there was a recovery over the weekend. As a result, Bitcoin (BTC) price today trades at $97,558.0 on 1 PM. BTC price hit a daily high of $98,882.0 today after a 0.14% move on November 25.
The Ethereum (ETH) price has taken a strong lead gaining 5% over the last 24 hours and crossing past $3,500 levels while Bitcoin consolidates around $98,500. The attention shifts to ETH as BTC faces stiff resistance at the $100K milestone.
Following ETH’s gains, other altcoins like Ripple’s XRP, Cardano (ADA), Avalanche (AVAX), have reversed their trajectory for strong gains. The ETH/BTC pair will be crucial to monitor to decide the future course of action ahead.