Crypto Market Takes Center Stage: Bitcoin Network Weakens While Institutional Interest Heats Up

Bitcoin Network Activity Plunges to 12-Month Low Amid Seasonal Slowdown

As 2024 draws to a close, Bitcoin network metrics are painting a concerning picture. Active addresses have fallen to just 660,000 based on a 7-day moving average—the weakest level in twelve months. The decline mirrors the post-Ordinals and Runes speculation wave that previously drove engagement, but current indicators suggest more than seasonal softness. Miner economics have deteriorated noticeably, with daily revenue collapsing from $50 million during Q3 to approximately $40 million today. Most concerning: nearly all miner income now flows from block subsidies rather than transaction fees, signaling fading demand for Bitcoin block space. Analysts note an odd paradox—Rune transactions now occupy a meaningful portion of network throughput but contribute only 5-10% of fee revenue, highlighting a fundamental mismatch between network utilization and actual value creation.

Nasdaq Prepares for Extended Trading Hours as Markets Modernize

In a major shift for traditional finance, Nasdaq is officially submitting applications to the SEC to launch 24-hour stock trading. The exchange’s proposed “5X23” model will expand current trading windows from 16 hours daily to 23 hours, structured around two main sessions. The daytime window runs 4:00 a.m. to 8:00 p.m. ET, preserving the iconic 9:30 a.m. opening bell and 4:00 p.m. close. A new night session launches at 9:00 p.m. ET and runs until 4:00 a.m. the following day, with trades between 9:00 p.m. and midnight registered for the next calendar day. This modernization reflects growing pressure to compete with cryptocurrency’s around-the-clock markets.

BlackRock Doubles Down on Digital Assets With Strategic Hiring Spree

The world’s largest asset manager isn’t sitting on the sidelines. BlackRock just announced seven senior-level digital asset hires across the U.S. and Singapore, signaling accelerated commitment to crypto infrastructure. Six positions focus on expanding iShares crypto ETF offerings, including its $70 billion Bitcoin trust (IBIT). The Singapore role emphasizes long-term Asian market opportunities and major first-mover investments. This hiring wave underscores BlackRock’s systematic push into ETFs, asset tokenization, and blockchain finance—areas poised to reshape traditional finance in 2025.

MetaMask Breaks New Ground With Native Bitcoin Integration

Ethereum’s most popular wallet is expanding beyond its blockchain roots. MetaMask now supports Bitcoin natively, allowing users to purchase BTC with fiat, execute on-chain transfers, and swap EVM assets and SOL directly for Bitcoin. Current support includes native SegWit addresses, with Taproot compatibility “coming soon.” The integration includes a rewards component—MetaMask users earning reward points on Bitcoin swaps. ConsenSys CEO Joseph Lubin previously indicated the company is developing the MASK token, though launch timing remains unclear.

Elon Musk’s Net Worth Climbs Above $670 Billion Amid SpaceX Valuation Surge

Elon Musk’s wealth trajectory hit new heights this week following SpaceX’s tender offer, which doubled the company’s valuation to $800 billion from $400 billion just months prior. The move alone injected $168 billion into Musk’s net worth, pushing his total wealth above $670 billion—an extraordinary concentration of riches in fewer hands. His 42% SpaceX stake alone represents $336 billion in value, while his 12% Tesla position is worth roughly $197 billion. xAI’s ongoing Series C round at a $230 billion valuation adds another estimated $60 billion (based on Musk’s 53% stake). For context, this leaves second-place Larry Page over $425 billion in the dust, cementing Musk’s position as the world’s wealthiest individual. SpaceX’s planned 2026 IPO could push company valuation to $1.5 trillion—further amplifying Musk’s position.

Trump Opens Door to Samourai Developer Pardon as Privacy Tool Case Attracts Political Attention

The legal landscape for Bitcoin privacy tools may be shifting. President Trump stated he would consider pardoning Keonne Rodriguez, the Samourai Wallet developer convicted of charges related to the privacy-focused Bitcoin application. When told of the case, Trump indicated openness: “I’ve heard about this case, I’ll take a look,” while instructing Attorney General Pam Bondi to “keep an eye on this.” Rodriguez faces five years in federal prison following his conviction and is scheduled to surrender to federal custody this Friday. The Samourai tool enables Bitcoin users to maintain transaction privacy without relying on third-party custodians—a function that attracted regulatory scrutiny but champions argue is essential for financial freedom.

BitMine Accumulates Ethereum at Record Pace; Tom Lee Signals Market Optimism for 2025

Corporate Bitcoin holdings continue their upward march. BitMine announced combined crypto, cash, and investment assets totaling $13.2 billion as of December 14. The company’s crypto vault includes 3.967 million ethereum, 193 Bitcoin, $38 million in Eightco Holdings equity (NASDAQ: ORBS), and $1 billion cash. Notably, BitMine added 102,259 ethereum last week alone, demonstrating sustained institutional appetite. Company chairman Tom Lee projected multiple tailwinds for 2025: favorable Congressional legislation, improving regulatory frameworks, and strengthened Wall Street backing for digital assets—suggesting institutional confidence may be bottoming as regulatory clarity emerges.