The final days of a year are usually strong across the markets as lower volatility makes the impact of individual trades greater and as the holiday cheer lifts the spirits of investors. In 2024, however, the so-called ‘Santa Claus rally’ was truly spoiled by December 30, as both the stock and cryptocurrency markets experienced a substantial downturn. The crypto market, in particular, proved bloody as the cumulative valuation of digital assets collapsed approximately $200 billion from $3.36 trillion at the start of December 25 to $3.15 billion at press time, per TradingView data. Crypto market valuation 1-week chart. Source: TradingView Why ‘Santa Claus rally’ was replaced by a ‘Grinch downturn’ The lack of the ‘Santa Claus rally’ – or, perhaps, the presence of the ‘Grinch downturn’ – can largely be attributed to a relatively expected correction and consolidation phase following a massive upsurge as, for example, the cryptocurrency market capitalization skyrocketed $1.4 trillion from $2.29 trillion at the start of November to $3.69 trillion on December 17 – a 61.14% increase. Furthermore, it fell in line with a broader plunge that came as the most recent Federal Open Market Committee (FOMC) meeting reignited fears of weakening equity markets and the likely higher inflation rate in 2025. Indeed, while digital assets, spearheaded by Bitcoin ( BTC ), which fell from about $108,000 in mid-December to $91,687 at press time, took much of the attention, the S&P 500 stock index is down 2.83% since December 17. Additionally, major stocks like Amazon (NASDAQ: AMZN ) and Tesla Motors (NASDAQ: TSLA ) are down 5.17% and 13%, respectively. S&P 500 index 30-day price chart. Source: Google Will the crypto market continue rallying in 2025? Still, it is worth pointing out that the latest decline, despite seeing vast amounts of wealth erased from the markets, did little to diminish the overall rise of digital assets – and technology stocks and gold – in 2024. In fact, while the $200 billion 5-day wipe is staggering and was doubtlessly painful for many investors, the cryptocurrency market is still up $1.47 trillion in 2024, as it started the year with a market capitalization of $1.67 trillion. Cryptocurrency market valuation YTD chart. Source: TradingView Finally, the latest downturn is not necessarily indicative of more trouble ahead as there is, at least at press time on December 30, something of a consensus that the bull market will persist in 2025, with Bitcoin leading the way with stellar price targets that range from lows at $220,000 to highs above $800,000 . Featured image via Shutterstock The post ‘Santa Claus rally’ wipes $200 billion from crypto market appeared first on Finbold .
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Sui DePIN IDO Announcement Sparks Interest as SUI Token Gains Momentum and Partnerships Strengthen Data Monetization Efforts
Sui DePIN is set to revolutionize the blockchain landscape with its upcoming Initial DEX Offering (IDO) on SuiPad, aiming to decentralize data ownership. Finbold
Silencio Network Breaks Records: $112 Million in Allocation Requests, Surpassing Target by 220x
Wilmington, USA, January 2nd, 2025, Chainwire Silencio Network , the world’s largest noise intelligence platform, has set a historic benchmark for the Web3 and Decentralized Physical Infrastructure Networks (DePIN’s). Through its strategic partnership with Legion (legion.cc) , Silencio generated an unprecedented $112 million in allocation requests, surpassing its $500,000 raise target by over 220x. This milestone highlights increasing interest in DePIN projects and demonstrates the demand for real-world blockchain solutions. Silencio’s success underscores its leadership in leveraging blockchain technology to tackle tangible challenges while empowering a global community. Clarifying Community-First Intent While $112.7 million in allocation requests were received, Silencio intentionally accepted only $1.3 million. Silencio has created a strong foundation for long-term, decentralized growth by prioritizing community incentives over large-scale capital intake. Pioneering the Future of DePIN Silencio’s achievement goes beyond the interest. It demonstrates the rising demand for decentralized infrastructure networks that address pressing global issues like noise pollution. “This isn’t just a milestone for Silencio; it’s a defining moment for the DePIN space,” said Thomas Messerer, CEO and Co-Founder of Silencio Network. “Our community-first approach resonated with people worldwide, proving that when you put users at the center of innovation, extraordinary things happen.” Operating in over 180 countries with a network of 460,000 sensors, Silencio processes more than 100,000 daily transactions, creating the world’s most comprehensive noise intelligence database. The $SLC Token and the Path to TGE The $SLC token, governed by the BlockSound Foundation, lies at the heart of Silencio’s ecosystem, rewarding contributors and scaling the network sustainably. The pre-sale was designed as a community-first initiative, ensuring early adopters play a pivotal role in shaping the project’s future. With the Token Generation Event (TGE) just weeks away, $SLC will unlock new opportunities for ownership, engagement, and impact, empowering users and enterprises to participate actively in Silencio’s mission. Real-World Leadership in DePIN With the DePIN market projected to grow from $56 billion to $3.5 trillion by 2028 , Silencio’s pre-sale ranks among the largest-ever allocation initiatives in Web3 history. This success can reinforce Silencio’s pioneering role in shaping the future of decentralized physical infrastructure networks. Noise pollution imposes a staggering multi-trillion-dollar cost on the global economy, impacting life expectancy, driving up healthcare expenses, and diminishing work efficiency worldwide. It affects a majority of the global population, significantly reducing quality of life. Silencio’s innovative, smartphone-powered solution democratizes access to noise intelligence, offering a scalable pathway to creating quieter, healthier cities. By empowering individuals with actionable insights, Silencio enables smarter choices about where to live, dine, and stay, fostering a better quality of life for communities everywhere. Joining the Movement Users can download the Silencio app , contribute to the world’s largest noise databank, earn rewards for making a difference, and visit www.silencio.network to learn more and explore the network’s activity on Dune Analytics . About Silencio Network Silencio Network is revolutionizing the global approach to capturing, processing, and utilizing noise intelligence data. By transforming everyday smartphones into real-time noise sensors, Silencio provides hyper-local insights that drive impactful decisions across industries such as urban planning, real estate, and hospitality. Envisioning a future where noise-level data influences real estate pricing and guides daily choices in selecting hotels and restaurants, Silencio is paving the way for smarter, more informed decisions. With operations spanning over 180 countries and a network of 460,000 sensors, the platform generates more than 100,000 daily on-chain transactions, solidifying its position as the world’s largest noise intelligence platform. About Legion Legion is revolutionizing early-stage crypto investments with its MiCA-compliant fundraising platform. Engineered to democratize access for retail investors, a built-in reputation system lets projects customize allocations and offer discounts based on each investor’s unique on- and off-chain activities. Reputation scores dynamically evolve based on how investors support the projects they invest in, disincentivizing short-term, value-extractive behavior. Contact Christopher von Halem Silencio Network Christopher@silencio.network Finbold