Crypto Today: Microsoft Rejects Bitcoin Reserve Plan, as Cardano, XRP Lead Market Rebound

The cryptocurrency sector's valuation held firm at $3.37 trillion on Tuesday, halting a bleedout of $13 billion in outflows over the last 24 hours. Marathon Digital , the largest cryptocurrency miner, announced another $1.1 billion Bitcoin purchase after issuing debt convertible notes. In the derivatives markets, 288,367 traders were liquidated, with $626 million in long positions wiped out, accounting for 77% of the $809 million total liquidations.

The blue-shaded area in the chart shows Ethereum whales began buying around November 22, amid Gary Gensler’s exit confirmation, increasing their balances from 82.04 million ETH to 82.64 million ETH at press time on December 10. This indicates that whales bought 600,000 ETH in the last 18 days, worth approximately $220 million at current prices.

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