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Bitcoin Surges Past $100K Amid Rising Institutional Demand and Pro-Crypto Momentum

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Daily Bits
Dec 5, 2024
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Daily Top Performer — Render Network (RENDER)

The S&P 500 rose 0.62% to a record high, driven by AI optimism and strong tech earnings, with Powell signaling steady rates amid inflation concerns. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 3.03%, with Bitcoin and Ether rising by 3.45% and 6.38%, respectively in the past 24 hours.

Today's top performer is RENDER, which surged 24.9% after Otoy unveiled OctaneRender 2026.1 Alpha, featuring experimental rendering technologies.

Render Network (RENDER), launched on April 2017, leverages blockchain to connect users' spare GPU power for rendering tasks, compensating them with its native token. This peer-to-peer network enhances the affordability and efficiency of producing 3D content for the metaverse and beyond. Otoy released the alpha version of OctaneRender 2026.1, showcasing experimental features like MaterialX and 3D Gaussian Splats support, neural rendering, and meshlet streaming. While some features have faced delays, the release offers users a chance to test cutting-edge technologies. It’s compatible with Windows, Linux, macOS, and iPadOS, and available via subscription or free limited editions.

Check Out the Latest Prices, Charts, and Data of RENDERUSDT Perp and RENDER/USDT Spot  Contracts!

Talk of the Town

Bitcoin surpassed $100,000 for the first time, driven by post-election demand and pro-crypto sentiment, including Trump’s support for making the U.S. a crypto hub. Year-to-date, Bitcoin prices have doubled, fueled by ETFs like BlackRock's iShares Bitcoin Trust, which grew to $45 billion in value. Bitcoin is increasingly seen as a hedge against inflation and geopolitical risks, though its volatility and regulatory concerns persist.

Check Out the Latest Prices, Charts, and Data of BTCUSDT Perp and BTC/USDT Spot Contracts!

Bitcoin Spot ETF Flows

Category

Flow (millions)

GBTC

(94.3)

Non-GBTC

79.4

Total

(14.9)

Yesterday, the BTC Spot ETF data shows outflows of $94.3M from GBTC, inflows of $79.4M from non-GBTC sources, resulting in a net outflow of $14.9M.

Check Out the Latest Prices, Charts, and Data of BTCUSDT Perp and BTC/USDT Spot Contracts!

Airdrop to Watch

Vana confirmed the launch of its $VANA token alongside its mainnet release. While no airdrop details are confirmed, Telegram "Data Hero" point holders may qualify. Official announcements are awaited.

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