BB DAILY 12-30-2024: Bitcoin holdings soar as MicroStrategy and Tether expand reserves; Hyperliquid staking launches; December sets $320.5B DEX trading record
MicroStrategy adds 2,138 BTC, Tether transfers $700M to its reserve, Hyperliquid introduces staking, and decentralized exchanges hit all-time highs in December.
Because Bitcoin
December 30, 2024
MicroStrategy expands Bitcoin holdings to 446,400 BTC, reports significant yield gains in 2024
MicroStrategy has purchased an additional 2,138 BTC for approximately $209 million at an average price of $97,837 per coin. This brings the company’s total holdings to 446,400 BTC, acquired for a cumulative $27.9 billion at an average price of $62,428 per bitcoin.
As of December 29, 2024, the firm reports a quarter-to-date Bitcoin yield of 47.8% and a year-to-date yield of 74.1%. These gains highlight MicroStrategy’s continued success in its aggressive Bitcoin acquisition strategy, positioning the company as one of the largest institutional holders of the cryptocurrency.
Tether transfers $700M in Bitcoin to reserve, boosting holdings to over $7.6B
Tether has transferred 7,629 BTC (worth about $700 million) from Bitfinex’s hot wallet to its bitcoin reserve, marking the largest addition since March 2024, according to Arkham Intelligence. The company now holds over $7.6 billion in BTC, equating to more than 82,000 coins. This move aligns with Tether’s strategy to allocate up to 15% of its profits into bitcoin, announced in May 2023.
USDT, Tether’s stablecoin, remains primarily backed by U.S. Treasury bonds and cash equivalents. Tether has also diversified investments into bitcoin mining, AI, and decentralized communications, generating a record $5.2 billion profit in the first half of 2024.
Hyperliquid launches staking on mainnet, empowering community-driven network security
Staking has officially gone live on the Hyperliquid mainnet, marking a significant milestone for the platform. This feature allows HYPE token holders to secure the network by delegating tokens to trusted validators. Similar to other proof-of-stake systems, validators propose new blocks in proportion to the amount of HYPE staked to them, reinforcing the network’s decentralization and security.
Participants can earn rewards in HYPE by staking with validators and are encouraged to evaluate factors such as uptime, commission rates, reputation, and community contributions when selecting where to stake. Locked tokens can also be staked, though their rewards remain locked.
The Hyper Foundation plans to introduce a Delegation Program aimed at supporting high-performing validators and further decentralizing the network, with additional details to follow. Staking represents both an opportunity and a responsibility for the Hyperliquid community as it continues to grow and secure its ecosystem.
December sees record-breaking $320.5B DEX trading volume as CEX activity hits two-year high
Monthly trading volumes on decentralized exchanges reached an all-time high of $320.5 billion in December, surpassing November’s record of $299.6 billion. Uniswap led DEX activity with over $103 billion, followed by PancakeSwap at $72 billion and Raydium at $54.6 billion. Centralized exchanges also saw significant growth, with spot trading volume hitting $2.78 trillion, the highest since May 2021. Binance processed nearly $950 billion, reflecting a surge in market activity driven by heightened volatility, increased trust in DeFi, and improved trading tools.
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