alpha un# weekly roundup

The cryptocurrency market was euphoric and volatile, with Bitcoin (BTC) surging to to $103,000 on December 5, boosted by optimism surrounding clearer regulatory frameworks and growing institutional adoption. However, profit-taking and broader market corrections led to a decline, with Bitcoin dipping below $100,000 by December 8, and ultimately closing at $96,890 by December 10, reflecting a 2.07% drop for the week.

Ethereum (ETH) followed a similar trend, peaking at $3,800 before retreating to $3,642, marking a 7.59% decline for the week. The broader DeFi market also saw significant pullbacks, with tokens like AAVE and COMP experiencing declines of over 19%. Corporate adoption of cryptocurrency and decentralized finance (DeFi) remained a focal point. Amazon was urged by the National Center for Public Policy to convert at least 5% of its assets into Bitcoin, joining a growing trend among large corporations looking to integrate crypto into their financial strategies. Meanwhile, Microsoft shareholders pushed for the company to explore similar Bitcoin initiatives, highlighting the ongoing interest in corporate adoption of crypto assets and DeFi solutions.

The DeFi space showed resilience despite the broader market fluctuations during the week. Lido, the leader in liquid staking, continued to maintain its dominance with $36.179 billion in Total Value Locked (TVL), despite a 6.97% decline. Aave and EigenLayer also demonstrated strength, with TVLs of $20.731 billion and $16.824 billion.

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