December: Bitcoin Milestones, Regulatory Advances, AI Expansion, and Web3 Innovation
Get up-to-date with the latest trends in crypto, Bitcoin, AI, and beyond. Oraichain's "Market Insights'' series delivers a monthly snapshot of the hottest narratives shaping the blockchain space. Dive into December's market news and discover what's driving innovation.
Major News
Russia Recognizes Digital Assets
Russia's new law classifies digital assets as property for tax purposes, exempting them from VAT but imposing income tax on earnings. Miners must register with authorities or face fines. Meanwhile, Russia’s CBDC rollout faces delays, with retailers requesting more time for adaptation. Additionally, SIX Group has invested in tokenization platform OpenBrick to expand its digital asset offerings across Europe. (Source: CoinGeek)
Bitwise Proposes New ETF Targeting Companies Holding 1,000+ BTC
Bitwise has proposed the Bitcoin Standard Corporations ETF, investing in firms holding at least 1,000 BTC in their corporate treasuries. The ETF targets companies with a market cap of $100 million and high liquidity, assigning weight based on Bitcoin holdings rather than market cap. This proposal reflects growing corporate adoption of Bitcoin, with firms like MicroStrategy, Tesla, and Marathon Digital already meeting the criteria. (Source: CryptoPotato)
EU's MiCA Regulation Now Fully Operational
The EU's Markets in Crypto-Assets (MiCA) regulation, now fully in effect as of December 30, 2024, establishes a unified framework for crypto-asset regulation across its 27 member states. MiCA introduces licensing and oversight for crypto platforms, issuers, and service providers, aiming to foster innovation while protecting consumers and ensuring market stability. The regulation cements the EU's position as a global leader in crypto governance, offering clarity and addressing risks in the volatile crypto sector. (Source: Global Government Fintech)
a16z Predicts Major Crypto Innovations in 2025
16z predicts transformative crypto advancements for 2025, including AI agents managing decentralized assets and decentralized autonomous chatbots (DACs). They expect widespread adoption of stablecoins and tokenized government bonds, improving financial efficiency and transparency. Additionally, privacy-preserving digital IDs and blockchain-based governance are set to reshape digital security and decision-making. (Source: a16z crypto)
Bitcoin Tax-Free After Three Years: Czech Republic’s New Tax Rules
The Czech Republic will exempt Bitcoin held for over three years from capital gains tax beginning in January 2025. Transactions under 100,000 CZK annually will also be tax-free, simplifying taxation for casual users. The law, which applies retroactively to Bitcoin purchased before 2025, aligns with the EU’s MiCA regulations and supports the adoption of digital assets. (Source: Bitbo)
Meme Coins Dominate Crypto Trends in 2024
Mastercard’s Multi-Token Network (MTN) has partnered with JPMorgan’s rebranded Kinexys Digital Payments (formerly JPM Coin) to enhance B2B cross-border payments. The collaboration aims to provide faster settlements, greater transparency, and reduced time zone friction for mutual customers.
By integrating their platforms through a single API, the partnership streamlines global payment processes. This marks a significant step in leveraging blockchain technology for seamless business transactions, reflecting both companies' commitment to advancing digital asset ecosystems. (Source: CoinDesk)
BTC in December
Bitcoin had a mixed December, starting at $96,500 and ending the month at $93,500 after a 3% decline. However, it reached a historic $100,000 on December 5th, with its market cap surpassing $2 trillion, making it the seventh-largest asset globally. The price peaked at $108,135 on December 17th, driven by excitement over a potential U.S. Bitcoin reserve. (Source: Various)
Bitcoin as a ‘Store of Value’ Gains U.S. Treasury Recognition
The U.S. Treasury’s Fiscal Year 2024 Q4 report identifies Bitcoin’s primary use as a “store of value,” likening it to “digital gold.” The report notes Bitcoin’s growth alongside other digital assets, driven by speculative interest and investment adoption. It highlights blockchain’s potential to modernize traditional financial systems like clearing and settlement. Crypto enthusiasts view this acknowledgment as a step toward wider institutional acceptance and innovation in decentralized finance. (Source: Bitcoin.com News)
Binance Bitcoin Reserves Hit Yearly Low
Data reveals Binance’s Bitcoin holdings are at their lowest in months, a trend often linked to price rallies as investors withdraw for long-term holding. Over-the-counter (OTC) desks report reduced inventory, reflecting tightening supply and increasing demand. Analysts suggest this setup points to a potential breakout, with Bitcoin prices possibly climbing significantly in the near future. (Source: CryptoPotato)
AI in December
OpenAI Unveils O3 Model
OpenAI made headlines with its "12 Days of Shipmas" event, culminating in the introduction of the O3 model, which promises to redefine AI reasoning and problem-solving capabilities. This model is seen as a significant leap forward in AI technology, showcasing advanced reasoning abilities that can tackle complex problems across various domains. (Source: Various)
Gemini 2.0 Unveiled: AI Model for the Agentic Era
In response to OpenAI's advancements, Google launched Gemini 2.0, its most capable AI model to date. This model features enhanced multimodal capabilities and is designed for the emerging "agentic era" of AI, focusing on improved problem-solving techniques through feedback loops. Gemini 2.0's integration within Google's ecosystem is expected to have substantial implications for various business applications. (Source: Google)
ai16z Considers Launching Layer-1 Blockchain for AI with Native Token
Ai16z is exploring the creation of an AI-focused Layer-1 blockchain, with its native $ai16z token at the core of the platform's tokenomics. The project aims to develop an agent launchpad similar to Pump.fun and integrate its token into liquidity pools, agent offerings, and more. Since its October launch, the $ai16z token has rapidly grown in market capitalization, managing nearly $1.5 billion. (Source: CoinTelegraph)
Oraichain in December
Oraichain Expands with Solana in OWallet and New OraiDEX Bridge
Oraichain has integrated Solana into its OWallet extension, allowing users to view balances, send and receive Solana tokens ($SOL, $RAY, $MOODENG, $MAX, and more), and sign transactions on platforms like Raydium and Pump.fun.
In addition, Oraichain has launched a fast and secure bridge on OraiDEX, enabling seamless token transfers between the Oraichain and Solana ecosystems. Supported tokens include $ORAI and $MAX, and users can easily bridge with just one click.
Try the new features now:
- Update OWallet to the latest version for Solana integration.
- Use OraiDEX Bridge: app.oraidex.io/bridge
agents(dot)land: Revolutionizing AI Agents on Solana and Beyond
agents(dot)land is transforming the AI agent ecosystem with an advanced platform built on Oraichain’s AI and blockchain infrastructure. Offering intuitive tools for agent creation, secure AI agent wallets with Trusted Execution Environment (TEE) technology, and fairlaunch-driven market mechanics, agents(dot)land ensures privacy, autonomy, and sustainability for AI Agents.
With capabilities such as DeFi integration, on-chain gaming, and automated portfolio management, the platform is a key resource for entrepreneurs and developers. The $MAX token drives economic security and enables value accrual for token holders.
Discover more and explore agents(dot)land: docs.agents.land
Oraichain x Ancient8: Shaping the Future of Blockchain Gaming with AI Agents
Ancient8 and Oraichain are reshaping the Web3 gaming landscape through their strategic partnership to integrate AI Agents into Ancient8’s gaming ecosystem. By deploying sophisticated AI agents, Oraichain enhances game development, NPC intelligence, real-time analytics, and autonomous game operations.
Powered by Oraichain’s AI Oracle and Distilled AI’s no-code platform, this collaboration provides seamless omnichain functionality, ensuring AI-driven experiences across multiple blockchains. The integration promises to deliver immersive, personalized gameplay, transformative player engagement, and cutting-edge technology to the Web3 gaming sector.
BlackRack’s $RACKS Token Becomes a Hit on agents(dot)land
BlackRack, the AI-driven investment platform, has made waves in the crypto world with the successful launch of its $RACKS token on December 29, 2024. In just a few days, $RACKS achieved a market cap of over $2M and attracted more than 5,700 holders.
Managed by the sentient AI agent "RACKS," the platform aims to revolutionize investments through AI algorithms that optimize asset management, including investments in AI Agent tokens. With support from Oraichain DAO and a clear roadmap for future growth, BlackRack is poised to become a key player in the Web3 investment landscape.
Join BlackRack’s clan at: https://mesh.distilled.ai/clan/@blackrack
Learn more about BlackRack: https://blackrack.ai/
Wrapping up
The end of 2024 marks a significant turning point for the digital and AI ecosystems. Regulatory progress in Europe and Russia has set the stage for broader adoption of digital assets, while innovations like Oraichain’s Solana integration and AI Agent platforms are pushing the boundaries of blockchain applications. The future looks brighter as these technologies continue to converge and reshape industries. Exciting developments are sure to unfold in the coming year.
Explore these advancements and join Oraichain’s thriving ecosystem today! Don’t forget to stay tuned for more exciting updates!
