🐳 Daily Edition: Bitcoin Reaches New ATH of $126k as Altcoins Rise

Bitcoin starts the week making a new all-time high of $126k, bringing the rest of the market surging behind it. Despite its rise, Bitcoin dominance has actually dropped since the end of last week, meaning altcoins outpaced its growth over the last few days. One of those altcoins has been Plume, a chain we’ve discussed quite a bit in previous Beluga Brief editions and a position we added to last week. After releasing an announcement that they had registered a transfer agent with the SEC, the token’s price jumped from $0.10 to over $0.13 in a matter of minutes. As a leader in the RWA space Plume aims to accelerate the tokenization of real world assets, bringing trillion dollar markets onchain — this is a major step in the right direction.

Speaking of bringing markets onchain, data from DeFiLlama shows that the Total Value Locked (TVL) in DeFi protocols hit a new all-time high today, breaking the record previously set at the end of 2021. The total stablecoin supply also now stands just over 2x its highs in 2021 at over $300B, which has massively contributed to above TVL numbers of course. Between this onchain liquidity and the ever-growing ETF bid on majors, Q4 is shaping up to be an exciting one.

There’s a lesson in here somewhere

The Beluga intern has been hard at work gathering all the most important crypto news stories so you have them in one place!

The Majors

• Bitcoin options traders eye $140,000 after record-setting rally

Alt Coins and Stocks

• Strategy buys no Bitcoin while making $140 million in dividend payments

• Galaxy launches GalaxyOne platform offering crypto, stocks, and 8% yields to US users

Digital Asset Treasuries (DATs)

• Tom Lee’s BitMine boosts Ethereum treasury holdings to $13 Billion

Airdrops

• MetaMask reveals $30 Million rewards program ahead of token drop