Dogecoin has experienced a significant decline this week, with its price dropping nearly 25% to around $0.31, raising concerns among investors and analysts alike. This downturn comes after a period of strong performance for the meme cryptocurrency, which had surged approximately 250% over the past year. Market Adjustments and Speculation The recent price drop can be attributed to broader market adjustments as investors react to changing economic conditions. Following the U.S. Federal Reserve’s recent decision to cut interest rates by 25 basis points, there has been a cautious outlook regarding future monetary policy, which has impacted risk assets like cryptocurrencies.…
Author: Freddie
Donald Trump has appointed Bo Hines, a former college football player and Republican congressional candidate, as the executive director of the newly established Presidential Council of Advisers for Digital Assets, commonly referred to as the “Crypto Council.” This announcement was made via Trump’s Truth Social account on December 22, 2024, and marks a significant step in shaping the administration’s approach to cryptocurrency regulation and innovation. Leadership and Goals of the Crypto Council In his new role, Hines will collaborate closely with David Sacks, who has been designated as the “Crypto Czar.” Together, they are tasked with developing a regulatory framework…
Bitcoin is experiencing its first weekly decline since Donald Trump’s recent election victory, as a cautious outlook from the Federal Reserve has dampened the optimism that had surged in the cryptocurrency market. As of Sunday afternoon, Bitcoin’s value had dropped over 7%, marking its largest decline since September. The digital currency was trading around $95,000, down approximately $13,000 from its record high reached just a week prior The broader cryptocurrency market also felt the impact, with a composite index of various digital assets, including Ether and Dogecoin, witnessing a sharper decline of about 10% during the same period. This downturn…
As we head into 2025, the cryptocurrency market is on the brink of a transformative boom, driven by a confluence of favorable regulations, innovative financial products, and increasing institutional interest. With Bitcoin’s price forecasted to potentially exceed $200,000, the landscape is rapidly evolving. Analysts are closely monitoring the impact of newly approved Bitcoin exchange-traded funds (ETFs) and state-level initiatives aimed at integrating digital assets into local economies. Additionally, the anticipated pro-crypto policies from the incoming administration are expected to further legitimize and stimulate investment in cryptocurrencies. This article explores the key developments that could shape the future of Bitcoin and…
The supply of stablecoins within Ethereum’s Layer 2 networks has surged to an all-time high of $13.5 billion as of December 20, 2024. This milestone highlights the growing demand for stablecoins in the cryptocurrency ecosystem, reflecting a significant trend towards Layer 2 solutions that enhance scalability and transaction efficiency on the Ethereum blockchain. Key Highlights of the Stablecoin Surge According to data from Tie Terminal and reported by various cryptocurrency media outlets, the substantial increase in stablecoin supply is primarily driven by major players such as Tether (USDT) and USD Coin (USDC). These stablecoins are crucial for facilitating transactions and providing liquidity within decentralized finance (DeFi) applications.Matthias…
The U.S. Securities and Exchange Commission (SEC) has made a landmark decision by approving the first-ever exchange-traded funds (ETFs) that combine Bitcoin and Ethereum, introduced by asset management firms Hashdex and Franklin Templeton. This approval, announced on December 19, 2024, represents a significant step toward mainstream acceptance of cryptocurrencies in traditional financial markets. Details of the Approved ETFs The SEC has granted regulatory clearance for two key products: the Hashdex Nasdaq Crypto Index US ETF, which will be traded on the Nasdaq stock market, and the Franklin Crypto Index ETF, set to be listed on the Cboe BZX Exchange. Both ETFs will…
Copper Technologies Ltd., a prominent crypto custody firm based in the UK, has officially withdrawn its application for registration with the Financial Conduct Authority (FCA). This decision, announced on December 20, 2024, marks a significant shift in the company’s strategy as it pivots towards international markets under the leadership of its new CEO, Amar Kuchinad. Background of the Withdrawal Copper’s decision to withdraw follows a challenging regulatory environment in the UK. The firm initially failed to secure registration in 2022 amid stringent changes imposed by the FCA on crypto asset firms. The regulator has been known for its rigorous standards,…
Changpeng Zhao, commonly known as CZ, expressed his surprise and excitement upon learning that Revolut, a leading global fintech company, has listed Binance Coin (BNB) on its platform. The announcement was shared by CZ on his social media account, where he has a substantial following of 9.2 million users. He noted that he was unaware of the listing until just moments before posting, highlighting the decentralized nature of Binance’s operations and the organic growth of BNB’s adoption among users Revolut’s Strategic Move Revolut, recognized as Europe’s largest unicorn with approximately 40 million users globally, has expanded its cryptocurrency offerings by…
Account holders of the defunct New Zealand cryptocurrency exchange Cryptopia have received a significant payout, marking a notable milestone in the aftermath of the company’s collapse due to a major hack in 2019. Over the past 48 hours, more than 10,000 verified account holders have collectively received NZ$400 million (approximately USD $250 million) in cryptocurrency distributions from the liquidators, according to Grant Thornton, the firm overseeing the liquidation process. Background on Cryptopia’s Collapse Cryptopia was established in 2014 and quickly became one of New Zealand’s leading cryptocurrency exchanges. However, in January 2019, it suffered a devastating hack that resulted in the theft of around NZ$30…
There are big changes in the cryptocurrency market, which makes many buyers want to follow the rises of well-known coins like Solana (SOL) and Ripple (XRP). Analysts, on the other hand, say to be careful and focus on new altcoins that are ready for the next big surge. These three alternative coins are ones that experts think could give big gains in the next few months. 1. Aerodrome Finance (AERO) Aerodrome Finance has quickly grown to become the most important decentralised exchange (DEX) on the Base chain. It makes around $0.4 million every day and has a total value locked…