🚀 Crypto Weekly Market Wrap: Dec 2 – Dec 8, 2024

Market Overview
The past week was monumental for the crypto world as Bitcoin achieved a historic milestone, crossing the $100,000 threshold for the first time. This was followed by a brief flash crash but showcased resilience with a swift recovery. Altcoins also thrived, led by XRP’s exceptional rally, while Ethereum maintained steady growth.

Key Highlights

Bitcoin Breaks $100K Barrier
BTC Price: Closed at $102,300, up nearly 6.5% for the week.

Milestone: Hit an all-time high of $104,200 midweek, briefly dipping to $96,700 before rebounding.*Dominance: Consolidated its market leadership with a 51% market share.

Altcoin Adventures
Ethereum (ETH):Ended the week at $3,707, up 11%. Increased activity in DeFi and NFT sectors contributed to its six-month high earlier in the week at $3,741.
Ripple (XRP):Surged 54%, closing at $2.16. Optimism surrounding regulatory changes and a potential pro-crypto SEC leadership bolstered its market cap to $134 billion, overtaking Solana.
Solana (SOL):Closed at $248, up 4.5%. Strong DeFi performance (TVL at $9.1B) maintained its appeal but couldn’t outpace XRP's rally.

Regulation and Adoption
US Crypto Landscape:
Optimism grew with indications of regulatory reforms following Donald Trump’s election victory.

Global Updates:
Taiwan: Strengthened AML compliance for exchanges.
Brazil: Proposed stricter stablecoin regulations.

On-Chain Activity:
DeFi Growth: Solana and Ethereum saw robust user inflows.
NFT Markets: Activity increased by 18%, with leading projects like BAYC and Azuki contributing significantly.

What’s Next?
Bitcoin Momentum: Will BTC break $110,000?
Altcoin Dynamics: Continued competition between XRP and Solana.
Regulatory Impact: Potential SEC announcements on ETFs may steer market sentiment.

Pro Tip: Monitor macroeconomic trends and regulatory updates closely, as they can heavily influence market stability.2024 is closing on a high note for the crypto ecosystem—let’s ride the wave to new heights!