# Altcoins Lose Big

*Author: Bankless*
*Published: Dec 9, 2024*
*Source: https://www.bankless.com/es/read/altcoins-lose-big*

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   Altcoins Lose Big
    
  

  
  Published on Dec 9, 2024

[
  
  View in Browser

](https://bankless.com/read/briefs)
 

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.  .  .

 
  
    
      
      NEED TO KNOW
    
    
  
  
    
MicroStrategy Buying Spree
  

  

 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/12/Group-14---2024-12-09T171512.231.png)](https://www.bankless.com/dashboard)- **🔴 MicroStrategy Bets Big Again on Bitcoin. **MicroStrategy [now owns 423,650 BTC](https://www.bankless.com/read/microstrategy-bets-big-again-on-bitcoin) – more than 2% of the total supply.
- **🐧 Pudgy Penguins NFTs Surge in Value.** Pudgy Penguins [have flipped Bored Apes NFTs](https://www.bankless.com/read/pudgy-penguins-2-nft) and briefly surpassed them in total market cap.
- 🙅 **Crypto Rallies Against SEC Commissioner's Potential Re-Nomination. **Armstrong [looks to rally](https://www.bankless.com/read/crypto-rallies-against-sec-commissioners-potential-re-nomination) the Senate Banking Committee against an anti-crypto SEC commissioner.

.  .  .

 
  
    

    MARKET VIBES

  
  

Market Pullback
  
   
     
   
     
    
 

**📸 Daily Market Snapshot: **It was red across the crypto markets today as BTC briefly sank to $95K, ETH suffered a pullback, and altcoins bled out. Leading the crash was DYDX, down 25%, but 70 of the top 100 tokens by market cap fell 15% or more Monday, with the total crypto market cap contracting nearly 7% on the day.

Prices as of 6pm ET
24hr
7d

 

       ![](https://banklesspublic.b-cdn.net/cmc.png)
    

  **Crypto**
   
          $3.45T
       

  
    
    ↘ 6.5%
    
  

   
    
    ↗ 2.7%
    
  

       ![](https://banklesspublic.b-cdn.net/btc.png)
    

  **BTC**
   
          $97,456
       

  
    
    ↘ 3.0%
    
  

   
    
    ↗ 1.8%
    
  

       ![](https://banklesspublic.b-cdn.net/eth.png)
    

  **ETH**
   
          $3,717
       

  
    
    ↘ 7.1%
    
  

   
    
    ↗ 2.4%
  

       ![](https://s2.coinmarketcap.com/static/img/coins/64x64/11857.png)
    

  **GMX**
   
          $36.06
       

  
    
    ↘ 18.0%
    
  

   
    
    ↗ 14.7%

    
  

  

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🫐**New Token Rating: GMX** price has doubled since November. How has GMX managed to achieve such significant growth in such a short period?[Unlock GMX on Token Hub](https://www.bankless.com/tools/token-hub/gmx)

.  .  .

 
  
    

TACTIC

  
  
    
Earn on Stablecoins with Fluid Lending  
  
   
     
     Bankless Author: [
       
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[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/12/image---2024-12-09T171059.049.png)](https://www.bankless.com/read/earn-stablecoins-fluid-lending)**Instadapp** is the DeFi powerhouse behind Avocado, a smart wallet, and the Instadapp Lite and Pro platforms. The team is in the limelight once again because its latest DeFi protocol, **Fluid**, is gaining traction on Ethereum, Arbitrum, and Base. 

Fluid is multidimensional and underpinned by a unified **Liquidity Layer**, which consolidates liquidity across the project’s main money legos.

Fluid has made headlines lately because:

- Its market size is now [over $1 billion](https://x.com/thedefiedge/status/1860870873315750374)
- It proposed the [$INST to $FLUID rebrand](https://x.com/0xfluid/status/1864009746988372448)
- It launched the [Fluid DEX on mainnet](https://x.com/0xfluid/status/1851340910254346342)
You don’t have to dive into the weeds of Fluid to get involved and put your money to work here. In fact, right now one of the simplest opportunities on Fluid is also one of the juiciest: **stablecoin lending**. 

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[Read More on Bankless.com](https://www.bankless.com/read/earn-stablecoins-fluid-lending)
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