Web3🌖TuesdaySnapshot: Bitcoin's Surge, TRB's Plunge, Vintage Mickey NFT, & SEC's Potential Bitcoin ETF Announcement

In the fast-paced realm of Web3, today's highlights showcase a dynamic landscape of cryptocurrency fluctuations and NFT triumphs. Let's delve deeper into these significant events driving the pulse of Web3.

1. Bitcoin Greets 2024 surpassing $45,000

On New Year's Day, Bitcoin briefly breached $45,000, a level unseen since April 2022. This resurgence echoed the rollercoaster of January that year when Bitcoin oscillated above $45,000 multiple times, accompanied by drops to as low as $36,000. Recent data from Coingecko shows Bitcoin's market fluctuations, hitting $45,000 on April 5, 2022, and plummeting to $15,742 on November 9. Currently, Bitcoin is up by over 171% compared to the prior year, rising more than 13% in the past month and over 5% for the day. Investors eagerly await the SEC's decision on a Bitcoin spot ETF, with hopes that 2024 might finally witness its approval and subsequent impact on Bitcoin's price.

Bitcoin Greets 2024 With a Peek Over $45,000 - Decrypt

The eyes of the crypto world remain on the SEC as bullish traders eagerly await the regulator’s decision on a Bitcoin spot ETF.

DecryptStacy Elliott

2. Tellor’s TRB token falls drastically from $720 to $180 in a volatile trading session

Tellor's TRB token experienced an extraordinary surge, escalating by 250% within 24 hours before sharply declining by 70% from its peak. This rollercoaster ride resulted from an illiquid market and traders' overleveraged positions. The oracle protocol, Tellor, utilizes blockchain tools to disseminate data across networks, rewarding users and data providers with its native cryptocurrency, TRB. During a weekend session, TRB futures surged from $180 to $737, followed by a rapid descent to around $175, triggering a record-high liquidation of nearly $40 million in shorts and $17 million in longs. Despite this volatility, TRB maintains an impressive yearly increase of over 1,000%.

Wild Trading Session Sees Tellor’s TRB Token Slide From $720 to $180 in Hours

Futures tracking the lesser-known token saw $68 million evaporate in leveraged bets in a 24-hour period.

CoinDeskShaurya Malwa

3. Early Mickey Mouse version no longer belongs to Disney, becomes top NFT on OpenSea

Disney's historic character, Mickey Mouse, found its 1928 "Steamboat Willie" iteration becoming a top NFT on OpenSea following its entry into the public domain due to expired copyright. This version's 95-year copyright limit ended on January 1, releasing it for public use. Three related NFT collections, including "Steamboat Willie Public Domain 2024," gained traction, with the former topping OpenSea's trending list, generating $1.2 million in trade. Despite this, Disney assured that while the earlier iteration is now free to use, the company will continue safeguarding its rights over modern versions. Disney emphasized protecting against unauthorized uses to prevent consumer confusion.

Disney’s vintage Mickey Mouse stars in OpenSea’s NFT marketplace | Industry NFT | CryptoRank.io

The iconic character from Walt Disney Company’s early animation history, Mickey Mouse, specifically in his 1928 appearance in “Steamboat Willie,” has

CryptoRankCryptoPolitan

4. SEC may announce Bitcoin ETF approval by January 3.

The U.S. SEC may announce its decision on spot Bitcoin ETF approval by January 2, reported by Reuters in late December. This news prompts hopeful applicants, including Ark/21Shares and a dozen other asset managers, to prepare for a potential January 10 launch. If approved, it could open the floodgates for spot Bitcoin ETFs across major exchanges like Nasdaq and Cboe BZX, marking a significant milestone for broader crypto accessibility. Despite uncertainties on the approved applications, recent amendments from heavyweight players like BlackRock and Grayscale indicate a competitive rush for an advantageous market position. This decision's impact on BTC demand and its mainstream integration remains a point of anticipation and potential transformation.

SEC could inform spot Bitcoin ETF approval by January 3

Key Points: Anticipation hangs heavy as the SEC prepares to rule on a dozen spot Bitcoin ETF approval, potentially opening the

CoincuLevii

As we conclude this overview of today's Web3 highlights, the crypto landscape remains vibrant, marked by Bitcoin's soaring value, Tellor’s dramatic price movement, and the nostalgia-driven appeal of the vintage Mickey Mouse NFT. The anticipation surrounding the SEC's potential Bitcoin ETF announcement adds an intriguing layer to the ever-evolving cryptocurrency market. As we navigate the twists and turns of Web3, these developments serve as a testament to the dynamism and unpredictability inherent in the world of cryptocurrencies. Stay tuned for further updates and the continuous evolution within the realm of digital assets.

WEB3 AI ML