The $21 million BTC purchase follows the KULR’s announcement on Dec. 4.
Other companies to launch a Bitcoin treasury strategy in recent weeks include Rumble, Marathon Digital, Semler Scientific and Thumzup.
MicroStrategy is the biggest corporate holder of Bitcoin with over 444k BTC
KULR Technology Group, Inc., listed on the New York Stock Exchange, is the latest tech company to adopt Bitcoin as a treasury asset.
A few weeks after the energy management platform announced plans to add BTC to its treasury, the company announced on Dec. 26 that it had officially begun the initiative. KULR said in a press release that its first purchase involved 217.18 bitcoin acquired for $21 million.
KULR’s bitcoin bag was acquired at the average purchase price of $96,556.53 per BTC.
On Dec. 4, when the publicly-listed company disclosed its Bitcoin treasury strategy, it revealed plans that included allocating up to 90% of the firm’s surplus cash to the flagship cryptocurrency.
KULR Technology Group, Inc. ( $KULR ) begins its Bitcoin Treasury strategy with the purchase of 217.18 $BTC for $21M, averaging $96,556 per BTC.
With sentiment extremely bullish amid the anticipation around pro-crypto Donald Trump’s administration, several companies have adopted or disclosed plans to add BTC to their treasury strategies..
These include Rumble, Boyaa Interactive, Thumzup and BTC miner Marathon Digital.
Metaplanet became known as ‘Asia’s MicroStrategy’ after adopting the BTC strategy to lead the Asian charge. MicroStrategy has regularly bought Bitcoin since its first purchase in 2020, and currently holds 444,262 BTC acquired for over $27 billion.
“The $21 million of BTC purchased since the announcement is the first of ongoing purchases the Company intends to make going forward,” KURL noted in its announcement on Boxing Day. Coinbase Prime will offer custody and wallet services for KURL’s haul of BTC.
Bitcoin traded around $95,670 at the time of writing, about 3% down in the past 24 hours.
The cryptocurrency market is likely to see another surge as Donald Trump returns to office for a second term. US politics is known for its extremes, and during Republican leadership, we have observed a shift towards a business-friendly approach and more deregulation. This scenario can lead to mass adoption of digital assets and further propel key cryptocurrencies. Rexas Finance (RXS), Bonk, TRON, Dogecoin, and Hedera are among the tokens expected to benefit. All these projects have a good foothold, real-world applications, and a notable increase in interest, which clearly makes for an explosion in growth with the right catalyst.
Rexas Finance: Paving the Way for the Future of Blockchain Technology
One such project is Rexas Finance (RXS), which plans to complement evolution in the form of a digital asset through the tokenization of real-world assets. Real estate precincts, fine arts, and precious metals are a few examples of markets that RXS has access to, something that was previously limited to institutional investors. By virtue of this feature, it is likely to be one of the very few projects with real-world utility in a Trump-led administration that advocates innovation. Rexas Finance’s tokenomics aim for long-term development and sustainability.
The total supply of tokens is set at 1 billion, and the allocations are designed to reward early investors while leaving room for future growth. 42.5% is set aside for presale phases, 22.5% for staking rewards, and 15% for liquidity. This distribution is meant to keep the price relatively stable while providing good upside to investors buying at this price.
The project has also completed a Certik audit, which verifies its integrity and transparency. Certik’s audit has also increased investors’ confidence in RXS as a safe cryptocurrency to invest in. Currently, Rexas Finance is in the 10th stage of its presale, with tokens valued at $0.15 each. The RXS price started at $0.03 in stage 1 and has climbed progressively as over $30 million has been raised, selling a total of 364 million tokens. There is a rush on transactions, indicating a quicker pace through the presale phases; this is explained by the increased interest in the project, its utility, and strong position in the market.
In anticipation of major exchange launches, RXS is expected to fetch early supporters a large profit using its first price tag of $0.20, set for 2025. Substantial volumes should push RXS higher than $0.20 after listing on the exchange. With the aim to drive greater adoption, Rexas Finance has launched a giveaway program worth $1 million. Under this initiative, the earliest investors and community members are rewarded through various activities, which can include participating on social media, referring new members, and buying tokens during the presale. The winners can possibly earn rewards worth about RXS tokens, amounting to around $50,000, making it a worthwhile opportunity for prospective and experienced investors alike.
Purchasing RXS is simple and straightforward, assuring an easy process for both advanced and new users in the crypto world. Here is how to get involved:
Go to the Rexas Finance website.
Find a supported wallet to connect, such as MetaMask.
Choose your desired method of payment, such as ETH or USDT.
Buy and enjoy your tokens.
For those aiming to join a potential project, RXS caters to its buyers by offering the promise of an uncomplicated purchase process.
Bonk: The Meme Currency with the Most Potential
Bonk, a meme coin that runs within the Solana ecosystem, has managed to enhance its popularity as a community-driven token. It currently trades under $0.0004, which makes it one of the best candidates to explode during the Trump-driven rally as its low price, alongside the growing number of active users, provides a good entry point. Due to the increased activity on Solana, Bonk almost immediately started rising in value, and its allure has been attracting more investors looking to capitalize on it.
TRON (TRX): Long-Term Value and Growing Market
With TRON, the blockchain’s infrastructure is still intact, and the focus is on tokenized content sharing and payment systems. The price is $0.04. The TRON team has made ambitious claims, which have so far proven justified, making it a marketplace of real-world applications with reasonable costs. If TRX gets even greater promotion from a likely Trump regime supportive of financial disintermediation, the use cases and, therefore, the price would become limitless.
Dogecoin (DOGE): Competitive and Unyielding in the Market
DOGE, with a price of $0.40 and support from retail investors, demonstrates its ease of use and short-term ROI. Given the hype it has received during bullish markets and various endorsements, achieving the $1 benchmark might not be too far off for Dogecoin.
Through its hashgraph technology, Hedera stands out as a crypto project that provides blockchain services that enterprises can use. HBAR is able to handle lots of transactions at low costs and at a rapid pace, unlike previous blockchains, and also has the potential to scale businesses. Hence, successfully selling HBAR increases its chances of mass proliferation through strategic alliances with huge international businesses such as Google and IBM. The innovative and efficient nature that HBAR boasts of puts it in a good position to grow as soon as the market turns favorable and institutional influx begins.
Conclusion
A second Trump term could be the rosiest scenario for the crypto market, with projects such as Rexas Finance, Bonk, TRON, Dogecoin, and Hedera leading the way. A fully functioning crypto project like DOGE and TRX can offer such exposure to prove its fair value upside. However, Rexas Finance is poised to be a ten-bagger because of its presale success, real-world applications, and user-oriented design. With fundraising of over $30 million, RXS also has a tangible growth roadmap, and because of that, it offers a unique opportunity for investors whose vision is exponential returns. It is very likely that, as the crypto market enters its new bullish phase, the aforementioned tokens will deliver substantial profits.
For more information about Rexas Finance (RXS) visit the links below:
Turkey has introduced new regulations for crypto transactions to battle money laundering and terrorism financing.
New AML regulations go into effect on February 25, 2025.
Turkey’s cryptocurrency regulation landscape continues to evolve, with new regulatory developments around crypto transactions and anti money laundering.
On Dec. 25, the Official Gazette of the Republic of Turkey published new AML rules. Under these regulations, users transacting over 15,000 Turkish liras ($425) have to share identification details with cryptocurrency service providers.
The new regulation targets the prevention of crypto use in money laundering and terrorism financing.
Notably, crypto service providers in the country are not mandated to collect customer transaction information when amount involved is below $425.
The new regulations take effect on February 25, 2025.
Crypto legal in Turkey
As Turkey looks to curb potential illicit crypto transactions, it’s effort reflects trends around the globe.
Most notable is the European Union’s Markets in Crypto-Assets (MiCA) regulation. MiCA comes into effect on Dec. 30, which has several crypto providers scrambling to comply. Several exchanges have delisted non-compliant stablecoins.
Turkey allows crypto users to hold and trade. The country granted crypto legal status in June 2024.
However, a ban on the use of crypto assets for payments has been in place since 2021.
A recent proposal has also looked to introduce a 0.03% transaction tax, with this aimed at boosting the county’s budget. Turkey currently has no crypto profit tax.
The US spot Bitcoin exchange traded funds market continued it’s latest streak of outflows with another $338.4 million exiting on Dec. 24.
US spot Bitcoin ETFs have recorded net outflows over the past four trading days now. The streak has coincided with BTC price struggling with downside pressure since dropping from its all-time high above $108k.
On Tuesday, Bitcoin recovered from intraday lows of $94k to trade above $98k.
However, according to data from SosoValue, traders saw net outflows of over $338 million to bring the total amount of money pulled from U.S. spot bitcoin exchange-traded funds over the four days to $1.52 billion.
Bitcoin dip and ETFs outflows
After Monday’s dip and outflows, market analysts at QCP shared their outlook for the market. They posted on X:
“Bitcoin’s anticipated year-end surge has fizzled. Instead, a $49.3M Mt. Gox #BTC move sparked a 14% drop, hitting 92.5k before bouncing to 95k. Liquidity’s drying up, sentiment softens, and ETFs saw their 3rd straight day of outflows.”
In terms of individual funds, BlackRock’s IBIT saw $188.7 million exit on Tuesday, while Fidelity’s FBTC and Ark and 21Shares’ ARKB recorded $83 million and $75 million in negative daily flows respectively.
However, Bitwise ETF $BITB saw net inflows of $8.5 million.
These consecutive days of outflows came in a week where the BTC price fell to near $92k. It’s also a week in which MicroStrategy, the world’s largest corporate holder of BTC, acquired more to bring its total holdings to 444,262 BTC.
MicroStrategy founder and executive chairman Michael Saylor commented:
“Last week, $MSTR treasury operations resulted in a BTC Yield of .72%, a net benefit of ~3,177 BTC. At $94K per BTC, that equates to a $299 million gift to our shareholders.”
Commenting further on the company’s latest BTC buy at the average price of $106k, Saylor added on X:
“If you are not buying bitcoin at the top, you are leaving money on the table.”
Interestingly, MicroStrategy has also filed a regulatory application that seeks its shareholders to vote on increasing company shares by 10 billion – plans that could allow for a staggering splash on Bitcoin.
Before yesterday’s outflows and the streak of outflows, the 12 spot Bitcoin ETFs had registered 15 straight days of net inflows. In total, positive flows over the 15 days reached $6.7 billion. The recent streak ended on Dec. 18.
The price of Bitcoin stood at $98,569 at the time of writing on Dec.25. It’s value against the US dollar has jumped 5% in the past 24 hours.
While it’s pared gains seen in the past month, Bitcoin is up 128% in the past year. Bulls are likely to eye a surge to $100k during this holiday week.
Over 30% of South Koreans now invest in crypto, with 15.59M holders in November.
Crypto trading volume in South Korea now rivals stock markets, with daily trades hitting 14.9 trillion won.
iDEGEN, an AI-powered coin that has raised $8.7M in its ongoing presale, is capturing investors’ attention.
According to a recent report, South Korea’s cryptocurrency market is booming, with over 30% of the population now investing in digital assets. The number of crypto holders recently surpassed 15 million, fueled by optimism following Donald Trump’s US presidential election victory.
Amid this surge, a new cryptocurrency, iDEGEN, has captured the attention of investors, thanks to its innovative pricing model and AI integration. Here’s a closer look at the trends reshaping the market.
South Korea’s cryptocurrency boom: facts and figures
According to data from the Bank of Korea, over 15.59 million individuals in South Korea held crypto assets by the end of November 2024, marking an increase of 610,000 investors from the previous month.
This rise coincided with a broader market surge, partly attributed to renewed optimism following the US election results.
With a population of approximately 51.7 million, this means more than 30% of South Koreans are now engaged in the crypto market.
This data was gathered under the Virtual Asset User Protection Act, which went into effect in July 2024. This act mandates that exchanges safeguard users’ assets, ensuring transparency and fostering trust in the digital currency ecosystem.
Key metrics underline this explosive growth. Among them, the total crypto holdings surged to 102.6 trillion won (around $78 billion) in November, a sharp rise from 58 trillion won in October. Average holdings per person also climbed to 6.58 million won, while deposits on exchanges nearly doubled, reaching 8.8 trillion won.
Trading activity has been equally impressive, with daily transaction volumes on the country’s top five exchanges—Upbit, Bithumb, Coinone, Korbit, and Gopax—hitting 14.9 trillion won rivalling South Korea’s stock markets.
The rise in Bitcoin (BTC) prices also played a pivotal role in this boom. By November’s end, Bitcoin’s price had jumped from 105 million won to 135.8 million won, attracting new investors and boosting confidence in the market’s potential.
Amid South Korea’s crypto affinity, this memecoin has been making waves
While established cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) dominate headlines, a newcomer, iDEGEN (IDGN), has emerged as a compelling option for investors seeking high-growth opportunities.
Launched in November 2024, this AI-powered meme coin has raised over $8.9 million in its ongoing presale and has sold over 1.1 billion IDGN tokens, generating significant buzz within the crypto community.
What sets iDEGEN apart is its dynamic presale pricing model, a feature rarely seen in traditional token launches.
The coin’s price adjusts every five minutes based on market activity—rising by 5% with consecutive purchases and dropping by 5% during periods of inactivity. This mechanism not only incentivizes engagement but also introduces a level of unpredictability, making the coin particularly appealing to adventurous investors.
In addition, iDEGEN integrates artificial intelligence (AI), which further enhances its appeal. The project’s AI leverages community feedback on X (formerly Twitter) to refine its development and utility. This adaptive approach signals that iDEGEN is more than just another meme coin; it’s a project with potential for long-term growth and real-world application.
With the presale set to conclude on January 1, 2025, with an expected listing price 10% higher than the final presale price, early adopters stand to gain significantly.
As innovative projects like iDEGEN capture investor attention, the future of South Korea’s crypto landscape looks increasingly vibrant and promising.
