Strive Asset Management, a major publicly listed Bitcoin treasury, has formally requested that index provider MSCI reconsider its potential exclusion of large Bitcoin-holding companies from its indexes. In a letter to MSCI Chairman and CEO Henry Fernandez, Strive warned that such an exclusion would reduce passive investors' exposure to the digital asset sector and could have devastating financial consequences. The firm highlighted that Strategy's losses alone could climb to $2.8 billion if excluded. In response, some affected companies, like miner Riot Platforms, are reportedly expanding into AI computing to mitigate potential losses.
Amid this institutional debate, the meme coin Shiba Inu (SHIB) has seen a significant spike in its token burn rate. Data from Shibburn shows that 34,397,753 SHIB tokens were burned in the past 24 hours, marking a 274% increase in the daily burn rate. This brings the weekly total to over 94.6 million burned tokens, though the weekly rate saw a slight decline of 9.46%. The burn activity has reduced SHIB's total circulating supply to 589,246,114,046,995 tokens.
Market analysts are eyeing a potential December recovery for crypto assets. Coinbase Institutional points to improving liquidity and high market odds (86-93%) of a Federal Reserve rate cut as key drivers. For SHIB, a successful breakout above the $0.0000095 resistance level could pave the way for moves toward $0.00001177, while failure to hold support near $0.00000815 risks a drop toward $0.0000075.
Separately, the AI-focused crypto project DeepSnitch AI has gained attention, raising $690,000 in its presale after announcing the deployment of three operational AI agents within its analytics suite. The project is offering tiered bonus codes (DSNTVIP50 and DSNTVIP100) for large investments until January 1, with promoters suggesting significant post-launch growth potential for its DSNT token.
SOL
AVAX
TAO
LUNA
LIVE
XRP