The day ahead in crypto: Dec. 16, 2024
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Looking more broadly, ETH failed to establish a foothold above $4,000 amid reports of large withdrawals of staked ether from Lido Finance. Payments-focused XRP traded more than 2% lower, weakening a bullish technical pattern. Ripple CTO David Schwartzabout FOMO-driven volatility before the debut of the company’s RLUSD stablecoin, which it plans to use for cross-border payments alongside XRP.
Avalanche’s Etna upgrade is scheduled to go live on Dec. 16 at 12 p.m. The upgrade aims to make it cheaper to transact and run validators on the network Arbitrum will unlock $94.05 million worth of tokens on Dec. 16, representing 2.34% of circulating supply.Solana-based decentralized exchange Raydium’s annualized fees have reached a major milestone above $2 billion, according to data from Artemis. Revenue for the year is now around $355 million, making it the second-largest decentralized application by that metric. Only collateralized-debt protocol Sky is bigger.
AAVE's perpetual open interest has increased 7% in 24 hours, the most among major coins. The cumulative volume delta , however, has declined, indicating net selling pressure in the market.
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