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Coinbase Integrates Apple Pay for Seamless Fiat-to-Crypto Onramp
Coinbase has integrated Apple Pay into its fiat-to-crypto Onramp solution, formerly known as Coinbase Pay, aiming to simplify the process of funding self-custody wallets. Onramp offers a seamless experience by enabling one-click purchases and reducing user friction through its software development kit (SDK) and APIs. The integration supports over 60 currencies, connects with bank accounts, debit cards, and Coinbase accounts, and provides lightweight KYC for eligible purchases. Initially rolled out to select clients, the move highlights Coinbase’s effort to streamline crypto adoption. Coinbase’s stock (COIN) rose over 4% following the announcement.
MARA Announces $700M Convertible Senior Note Offering for Bitcoin Purchases
Bitcoin miner MARA Holdings has proposed a $700 million convertible senior note offering to repurchase a portion of its 2026 notes and acquire additional Bitcoin. The notes, due in 2031, will be offered to institutional investors with an option to purchase $105 million more. MARA plans to allocate up to $50 million for note repurchases and use the remainder for Bitcoin acquisitions and general purposes. In November, MARA mined 907 BTC and acquired 6,474 BTC, bringing its total holdings to 34,959 BTC, valued at $3.3 billion—the largest among public miners.
MicroStrategy Acquires 15,400 Bitcoin for $1.5B, Boosting Total Holdings to 402,100 BTC
MicroStrategy has purchased 15,400 BTC for $1.5 billion at an average price of $95,976 per bitcoin, bringing its total holdings to 402,100 BTC worth over $38 billion. This acquisition follows the sale of 3.7 million company shares, part of a $42 billion capital-raising plan for further Bitcoin purchases. MicroStrategy’s total BTC cost averages $58,263 per coin.
Trading Desk Insights
BTC has repeatedly tested the critical $100,000 threshold over the past ten sessions but has been unable to penetrate the substantial resistance posed by multimillion-dollar sell orders accumulated during the weekends. The stabilization of perpetual funding rates across major exchanges suggests a return to market equilibrium, which is a positive development. Notably, this morning’s news of the U.S. Government transferring $1.92 billion in Bitcoin to a new wallet could introduce volatility into the market dynamics.
In the derivatives arena, both Bitcoin and Ethereum (ETH) options markets exhibit a higher pricing of calls over puts, with ETH calls notably surpassing BTC in terms of cost, signaling stronger market optimism for Ethereum. Ethereum has recently outpaced Bitcoin, gaining nearly 20% superiority in performance in recent days. Additionally, Ethereum's spot ETFs recorded their largest single-day inflow, amounting to approximately $333 million.
Ripple's XRP has seen an explosive increase, overtaking Tether (USDT) to become the third-largest cryptocurrency by market capitalization at $150 billion. The asset surged 460% post-election, reaching a peak of $2.87 today, with South Korea reporting unprecedented trading volumes. Anticipations of a Ripple-backed stablecoin and potential ETF approvals are likely catalysts for this heightened market interest.
MicroStrategy has further expanded its Bitcoin portfolio, acquiring an additional 15,400 BTC for $1.5 billion through share sales facilitated by its ATM program, bringing its total assets to an estimated $38.2 billion.
On the supply side, Jito (JTO) is set to release 102.7% of its circulating supply, valued at $464.1 million, on December 7th, which could impact its market position.
Turning to broader market indicators, the S&P 500 edged to a new high as December trading commenced, building on substantial gains from November. Recent data releases suggest a slight improvement in the U.S. manufacturing sector, although it remains below expansion levels.
Crypto Charts
Disclaimer
This research is for informational use only. This is not investment advice. Other than disclosures relating to Secure Digital Markets this research is based on current public information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on as such. The information, opinions, estimates, and forecasts contained herein are as of the date hereof and are subject to change without prior notification. We seek to update our research as appropriate.
Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation. The price of crypto assets may rise or fall because of changes in the broad market or changes in a company's financial condition, sometimes rapidly or unpredictably. Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur. Fluctuations in exchange rates could have adverse effects on the value or price of, or income derived from, certain investments. We and our affiliates, officers, directors, and employees, excluding equity and credit analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives, if any, referred to in this research.
The information on which the analysis is based has been obtained from sources believed to be reliable such as, for example, the company’s financial statements filed with a regulator, company website, company white paper, pitchbook and any other sources. While Secure Digital Markets has obtained data, statistics, and information from sources it believes to be reliable, it does not perform an audit or seek independent verification of any of the data, statistics, and information it receives.
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Crypto and/or digital currencies involve substantial risk, are speculative in nature and may not perform as expected. Many digital currency platforms are not subject to regulatory supervision, unlike regulated exchanges. Some platforms may commingle customer assets in shared accounts and provide inadequate custody, which may affect whether or how investors can withdraw their currency and/or subject them to money laundering. Digital currencies may be vulnerable to hacks and cyber fraud as well as significant volatility and price swings.
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