Crypto Scoop: Bitcoin Surpasses $100K as Ethereum Reaches $3,800

This week in crypto, Bitcoin broke through the historic $100,000 barrier, XRP achieved a staggering $110 billion market cap, and global regulatory developments brought significant updates for digital assets. In this edition of Crypto Scoop, we cover:

• Price moves of top cryptocurrencies
• Ripple announces new stablecoin
• Global regulatory developments and adoption 
• Institutional breakthroughs in blockchain and finance and more

Price Moves of Top Cryptocurrencies

Bitcoin finally shattered the long-anticipated $100,000 barrier last week, reaching an all-time high of $102,000 before retracing slightly to $98,500 by week's end. BlackRock’s iShares Bitcoin Trust now holds over 500,000 BTC, valued at a staggering $48 billion. Meanwhile, MicroStrategy added to its impressive reserves with another $1.5 billion Bitcoin purchase, reaffirming its commitment to the cryptocurrency as a strategic asset.

Ethereum also made waves, climbing above $3,800 amid record-breaking inflows into Ether investment funds. With $2.2 billion in net inflows this year, ETH has set a new high, signalling increasing institutional demand for the asset. Whales are also making big moves, with one investor acquiring 3,710 ETH worth $13.75 million this week, indicating strong confidence in Ethereum's future prospects.

Meanwhile, Solana is trading at $247 after a 15% weekly increase. The network’s DeFi activity remains robust, with its decentralised applications seeing significant growth in customer engagement and total value locked. Solana’s ecosystem appears to be capitalising on the renewed enthusiasm surrounding Layer-1 blockchain solutions.

The cryptocurrency market is experiencing heightened activity as the year draws to a close.

XRP Market Cap Hits $110 Billion as Cardano and Tron Prices Surge

XRP stole the spotlight this week, surging past $110 billion in market capitalisation and securing its position as the third-largest cryptocurrency, briefly overtaking Tether (USDT). Ripple further bolstered its ecosystem with the announcement of its soon-launching USD-pegged stablecoin, RLUSD, aimed at streamlining cross-border payments. In addition, the XRP Ledger made a significant accessibility move by reducing its reserve requirement by 90%, enabling new wallets to be activated with just 1 XRP instead of the previous 10 XRP.

Cardano also made headlines with an 88% rally over the past fortnight, propelling its price to a high of $1.33. The surge means 88.4% of ADA’s circulating supply is now in profit, reflecting strong investor interest. 

Meanwhile, Tron reached new heights, surpassing $20 billion in market capitalisation and hitting an all-time high of $0.23. This growth reflects an increasing interest in alternative cryptocurrencies, driven by Tron's expanding DeFi ecosystem and growing adoption across Asia.

JasmyCoin joined the list of high-performing altcoins, surging 25% in 24 hours to hit $0.050. The coin’s remarkable growth pushed its market capitalisation above $2.5 billion, with nearly all holders in profit, according to recent metrics. This surge underscores the dynamic and fast-evolving nature of the altcoin market.

As altcoins continue to surge, this week's movements reflect growing investor confidence in alternative digital assets and the evolving dynamics of the crypto space.

Global Regulatory Developments and Adoption

In the United States, President-elect Donald Trump has nominated Paul Atkins, a former SEC commissioner known for his pro-crypto stance, to replace Gary Gensler as Chairperson of the U.S. Securities and Exchange Commission (SEC). The nomination has drawn attention to Atkins’ previous advocacy of innovation in the financial sector and his potential approach to crypto regulation. The crypto community is closely watching how this development unfolds and what it could mean for the industry.

In another significant move, Trump has appointed David Sacks, former PayPal COO and a venture capitalist, as the White House’s first AI and Cryptocurrency Czar. Sacks will spearhead efforts to create a comprehensive regulatory framework for digital assets while advancing innovation in artificial intelligence. This appointment underscores the administration’s focus on positioning the U.S. as a leader in emerging technologies.

In the U.S., New York City Mayor Eric Adams, a vocal Bitcoin supporter, highlighted Bitcoin’s recent price surge and its growing adoption in a recent in-person media availability. Adams, who famously received his first paycheck in Bitcoin, doubled down on his earlier statements about Bitcoin and his belief in the long-term potential of cryptocurrencies to reshape financial systems.

In Europe, Germany has taken a significant step forward, with Fintech firm 21X gaining regulatory approval from BaFin to launch a blockchain-based trading venue. This platform will allow tokenisation and blockchain-based settlement of financial instruments, further bridging the gap between traditional finance and blockchain innovation.

In Asia, South Korea’s retail cryptocurrency trading volumes have surpassed those of its stock market, reflecting a surge in interest among retail investors. This trend highlights South Korea’s position as a critical market for crypto adoption despite ongoing political and regulatory challenges. Meanwhile, South Korea’s Financial Services Commission (FSC) continues to deliberate on frameworks for corporate crypto accounts, demonstrating cautious progress in integrating digital assets into mainstream finance.

Lastly, in Turkey, Coinbase has unexpectedly withdrawn its application to expand into the Turkish market. This decision underscores crypto firms' challenges when navigating complex regulatory environments in new regions.

Institutional Breakthroughs in Blockchain and Finance

Coinbase made strides in improving accessibility this week by integrating Apple Pay into its platform. This move allows customers to purchase cryptocurrencies seamlessly using Apple’s secure payment system. This move reflects the increasing effort by institutional players to bridge traditional payment methods with the digital asset ecosystem, further streamlining the user experience and expanding the appeal of cryptocurrencies.

Virgin Voyages also joined the wave of crypto adoption by becoming the first cruise line to accept Bitcoin payments. Through its innovative "Annual Pass" programme, the company now offers customers the option to pay for unlimited cruises using the leading cryptocurrency. This development highlights the growing integration of digital assets into the travel industry, demonstrating how cryptocurrencies are evolving into practical payment tools.

In Hong Kong, a prominent gaming firm has made waves by reallocating its Ethereum (ETH) treasury holdings entirely into Bitcoin (BTC). This move reflects a growing trend among institutions favouring Bitcoin as a strategic reserve asset, citing its perceived stability and long-term value proposition compared to other cryptocurrencies. 

Meanwhile, the crypto sector continued to gain recognition in traditional finance, as nearly one-third of honourees in Forbes' 2025 "30 Under 30" Finance category were founders of blockchain and cryptocurrency firms. This remarkable representation underscores the growing influence of crypto innovators in reshaping the financial sector, creating technologies that challenge and transform existing systems.

Developments in Decentralised Finance (DeFi)

Curve Finance has reported a significant increase in its monthly revenues, reaching approximately $1.86 million in November—a rise of 84.88% compared to the previous month. This marks the highest revenue level since May of this year. The surge is primarily attributed to the high interest rates associated with crvUSD, reflecting growing user engagement and confidence in DeFi platforms.

In another notable development, Perennial has introduced 'Perennial Intents,' an innovative intent layer for perpetual futures. This solution aims to address the issue of fragmented liquidity in DeFi by consolidating order flow into a unified liquidity layer. By integrating order flow across multiple venues, Perennial seeks to create a more cohesive and efficient trading system, enhancing the overall user experience in the DeFi space.