Good Morning,

Here's a quick preview of today’s content: VC activity had a massive November, a Nike owned web3 company is shutting down amid the rising market and buyers are swarming, seized Bitcoin from Silk Road worth nearly $2B moved to Coinbase to potentially sell, and more

Happy Tuesday, Let’s dive in.

Market Snapshot

• Bitcoin’s monthly return for November was 37.29%, one of the highest of the year

• The total crypto market cap saw the highest monthly dollar gains of all-time at +$1.19T

• Ethereum ETFs closed out the month with record net daily inflows

  • $333M entered the $ETH ETFs on Friday, marking the largest single day inflow in history

• MOODENG the memecoin centered around the baby hippo, was listed on Coinbase and it continues to fly

Headline Roundup
^{_{The major headlines driving crypto markets}}

• Enron announced a relaunch of its brand with a vision to solve the global energy crisis (and hinted at potentially launching a digital token) (Enron)

• ETF manager WisdomTree files for XRP ETFs (TB)

• Coinbase allows to buy crypto via third-party apps using ApplePay (TC)

• Nike-owned web3 startup, RTFKT, is shutting down (TB)

• Japanese CEX, DMM Bitcoin shuts down its services (CD) 

• Coinbase lists Moodeng, the coin up 67% on the daily (CD)

• Microstrategy adds 15.4K Bitcoin for $1.5B another bulk of bitcoins to its portfolio (CD)

• Bitcoin mining firm’s shares in an uptrend, reacting to bitcoin price surge (DC)

• Global Ethereum investment products hit new yearly highs (TB)

• Mara Holdings looks to raise more money to acquire more bitcoin (TB)

• Monthly crypto exchange volume hit a three-year high in November (CT)

• Fortnite-like game 'OpenSeason' is burning 82% of its token supply (DC)

DeFi’s $3 Trillion Opportunity

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Launches

• Gaming project Portal announces its own crypto wallet (DC) 

• An energy finance company, PowerDime, to launch a tokenized platform for renewable energy (CT)

• Famous Web3 media platform, Rug Radio, plans to launch Myriad, a combination of prediction markets and consumer content (DC) 

• BitGo launches new retail-friendly platform to transact and custody cryptocurrencies (TB)

Venture Capital

• Blockchain startups closed almost 100 VC deals in November (CT) 

• Sora Ventures launches $150M fund to emulate Microstartegy’s strategy in Asian markets  (CS)

Regulation

• Coinbase is canceling its Turkey expansion, for now (CT)

• Brazil bans stablecoin withdrawals directed to self-custody wallets (CT) 

• Ethereum ETF staking likely to be approved under new SEC secretary (TB)

• Cambodia’s government has blocked access to 16 cryptocurrency exchange websites (BH)

Cybersecurity

• Seized Bitcoin from Silk Road worth nearly $2B moved to Coinbase Prime (CD) 

• Decentralized exchange Clipper clarifies the recent hack was not caused by a private key leak (CT)

Chart of the Day

XRP prices have zoomed 430% in the past 30 days, reaching price levels last seen in 2018. The rise started in early November after the Republican victory in the U.S. election reignited investor confidence in tokens linked to U.S. companies, including XRP's associated Ripple Labs.

As expected, large holders are playing a key role in contributing to the move. CryptoQuant data shows whale activity – which tracks movements from large wallets to and from exchanges – has been consistently elevated since the past month, multiples higher than any other period as you will see below.

Meme Dump

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