- The cryptocurrency market cap fell below $3.5 trillion on Monday, down 2.4% in the last 24 hours.
- The price of Bitcoin (BTC) fell 7.2% last week, posting its first weekly loss since Trump’s November 5 election victory.
- Chainlink (LINK), Hedera (HBAR) and AAVE emerged as the biggest gainers over the weekend, with strategic bull traders stepping in to fight the market decline.
- The AI-Agents sector has captured media attention over the past week, with Pudgy Penguins and Virtuals Protocol (VIRTUAL) among the first.
Altcoin Market Updates: Chainlink, HBAR, AAVE Leading Market Recovery
The global market capitalization of cryptocurrencies decreased by $500 billion after the Federal Reserve’s hawkish statements on December 17th.
Amid the market decline, the price of Bitcoin fell 7.2% last week, posting its first weekly all-time loss since the re-election of Donald Trump.
However, as early signs of recovery emerged, Chainlink (LINK), Hedera (HBAR) and AAVE became the biggest gainers on Monday.
- Chainlink (LINK) retakes $22 territory with 3% gains after integration of new memecoins
Chainlink (LINK) rose 3% to reach the $22 level again, boosted by new integrations with popular memecoins. Over the weekend, several memecoins, including Shiba Ina (SHIB) and its ecosystem tokens Turbo (TURBO) and Apu (APU), adopted Chainlink’s Cross-Chain Token (CCT) standard.
Chainlink Integrate new memecoin data streams | Source: X.com/Chainlink, 21 Dec 2024 |
The move allows these tokens to work seamlessly across 12 blockchains, expanding their availability beyond native networks.
The adoption of the CCT standard positions Chainlink as a key player in facilitating multi-chain interoperability for emerging tokens.
By leveraging Chainlink’s services, these memecoins can now stream data and offer cross-network functionality, increasing utility and liquidity.
- AAVE price broke above $340 on Monday, up 11% on the day, as the Fed’s third straight rate cut stokes demand for DeFi credit products.
Chart of the Day: Crypto AI-Agent Sector Hits $10 Billion Market Cap
The Crypto AI Agent sector continues to shine amid broader market turbulence, hitting a $10 billion market cap on Monday.
Amid growing demand for AI-integrated blockchain projects, the sector has emerged as one of the fastest growing cryptocurrency sectors in recent weeks.
Key growth drivers include the increasing adoption of AI technologies across multiple industries and the interoperability of these projects within decentralized ecosystems.
Crypto AI Agent Sector Performance | Source: Coingecko
Virtual Protocol (VIRTUAL) is among the top performers, with a daily gain of 11.3% and a market cap of $2.57 billion. Similarly, Aixbt by Virtuals (AIXBT) saw a weekly gain of 10.8%, cementing its position as a key player in the ecosystem.
The Alliance for Artificial Superintelligence (FET) remains the sector leader, with a valuation of $3.28 billion and strong 24-hour trading activity of $377 million.
As the Crypto AI Agent sector improves the convergence between AI and blockchain technology, it could become a significant growth driver for the broader cryptocurrency industry in 2025 and beyond.
Crypto News Updates:
- HyperLiquid Faces Record $60M USDC Outflow Amid North Korean Hacker Concerns
HyperLiquid, a prominent Layer 1 blockchain and decentralized exchange specializing in perpetual futures trading, has reported a staggering USDC outflow of $60 million. The sharp outflow of funds followed growing fears of potential hacking activities linked to North Korean cybercrime groups.
Blockchain analysts flagged movements from wallets linked to the regime, fueling speculation of a possible reconnaissance mission targeting the HyperLiquid platform’s infrastructure. Given that USDC is critical to the exchange’s collateral and liquidity, this unprecedented withdrawal has fueled discussions about the platform’s security resilience.
Although the outflows have raised concerns, HyperLiquid remains the leader in perpetual futures trading on the chain. Its recent launch of the original HYPE token amid a $1 billion broadcast, triggered a significant surge in adoption over the past month.
- Trump has appointed Bo Hines to head the crypto council to encourage the growth of digital assets
President-elect Donald Trump has appointed Bo Hines, a former college football star, as executive director of the President’s Council of Advisors on Digital Assets, also known as the “Crypto Council.”
This marks another significant step in Trump’s efforts to shape the future of the digital asset industry. Hines, who will work closely with David Sacks, the newly appointed AI and cryptocurrency czar, is expected to play a key role in crafting policies that encourage innovation in the blockchain and cryptocurrency sectors.
In his post on TruthSocial, Trump emphasized the administration’s commitment to spurring growth in the digital asset space while ensuring industry leaders have the tools they need to succeed. He highlighted the council’s goal of creating an environment where cryptocurrency can thrive as a fundamental pillar of the nation’s technological progress.
The appointment of Bo Hines further confirms the Trump administration’s focus on positioning the United States as a leader in blockchain and cryptocurrency innovation.
- Interpol issues a red warrant for Hex founder Richard Heart
Interpol issued a red warrant on behalf of Finland for Richard Heart, the founder of Hex and PulseChain. Heart, known legally as Richard James Schueler, faces charges of serious tax evasion involving hundreds of millions of euros and allegations of violent assault on a 16-year-old. Europol also added Heart to its most wanted criminals list, increasing the international focus on the allegations against him.
In response to the Red Notice, Heart publicly dismissed the gravity of the allegations, expressing indifference and maintaining focus on its ongoing cryptocurrency projects. Despite mounting legal troubles, the founder’s public statements have shown little concern about the potential impact on his ventures, which continue to attract significant attention in the crypto community.
