MicroStrategy, the largest corporate holder of bitcoin, purchased an additional 14,620 BTC for $615.7 million, pushing its total holdings to 189,150 BTC worth $5.9 billion.
Ethereum is revolutionizing the digital economy with its decentralized blockchain network and unique features like smart contracts, allowing for efficient and trustless transactions, and its support for digital assets, expanding the concept of digital ownership. The platform's continuous updates and dedication to sustainability further enhance its potential for innovation and disruption in the blockchain space.
The marketplace for digital assets is expected to grow and mature in the coming year as more traditional financial institutions get involved, regulatory clarity increases, and new investment opportunities arise, according to a Goldman Sachs executive. The approval of spot exchange-traded funds for cryptocurrencies like bitcoin and ethereum could attract institutional investors and enhance liquidity in the market.
Solana (SOL) has experienced a significant surge in price, reaching all-time highs, but some analysts are cautioning that further upside may be limited due to its high market valuation, prompting investors to take profits and consider other cryptocurrencies like Bitcoin and Ethereum; meanwhile, Meme Kombat, a novel crypto gaming project, is generating excitement with its unique concept of betting on battles between meme characters in an AI gaming arena.
Grayscale Investments, the company behind the Bitcoin Trust, announced that its chairman Barry Silbert has resigned and will be replaced by Mark Shifke, the CFO of Grayscale owner DCG; meanwhile, the Securities and Exchange Commission (SEC) has delayed several ETF applications, including Grayscale's, as it continues to consider them. In the past 24 hours, a marketwide decline led to losses for leveraged bullish traders, and South Korea is implementing legislation to increase transparency by making asset holdings of public officials available to the public.
Injective (INJ) is seeing positive momentum and there is speculation that its price may reach $50 by the end of the year, while Pullix (PLX) is gaining attention and nearing $1 million in fundraising, and Dogecoin (DOGE) co-founder Billy Markus denies involvement in a newly revived token.
Three altcoins, Axie Infinity (AXS), Binance Coin (BNB), and Arbitrum (ARB), are showing bullish patterns compared to Bitcoin (BTC) and have the potential to outperform it in January 2024.
In 2023, the crypto industry experienced significant events, such as Bitcoin's rise, Ripple's victory, convictions, and deals, and several outlets covered these stories, including Bloomberg Businessweek's account of how Sam Bankman-Fried's parents facilitated his crypto empire, The New York Times' article on bankrupt crypto founders who traveled to Bali, and FT Alphaville's analysis of a crypto-yuan takeover of U.S. dollar dominance. Other notable pieces included The Wall Street Journal's coverage of Bankman-Fried's psychiatrist's role at FTX, Time magazine's examination of effective altruist leaders and FTX's collapse, and New York Magazine's profile on the Winklevoss twins' legal battle. TechCrunch discussed the invention of Ordinals and their impact on the NFT industry, Bloomberg interviewed Binance's Yi He in Mandarin, The New York Times explored how a crypto fugitive influenced politics in Montenegro, Rest of World utilized visual storytelling to discuss the effects of AI on workers, The Verge highlighted AI's reliance on human support, The New Yorker reflected on the decline of coding, and The New York Times Magazine and Slate featured profiles on unexpected subjects.
Crypto hedge funds that survived a challenging 2022 are rebounding and expecting a prosperous 2024, with many funds experiencing significant gains in 2023 despite trailing behind Bitcoin's performance.
MacroMicro's bitcoin futures smart money index hit a record high of 13,711, indicating a surge in bullish long positions ahead of the SEC's decision on spot ETF applications, leading some to anticipate a potential "sell the news" price action.
Investors are predicting a soft landing for the US stocks in 2024, which may lead to smaller tech stocks and other sectors outperforming the dominant technology giants of 2023, such as Apple, Microsoft, Google, Amazon, Nvidia, Tesla, and Meta Platforms.
The Solana ecosystem experienced a pullback as native tokens from major projects saw a decline, possibly indicating profit-taking from early investors, while trading volumes on Solana-based decentralized exchanges remained high.
Polygon (MATIC) price breaks out from a 730-day descending resistance trend line, but analysts suggest that it still has the potential to reach new highs before the end of the year based on technical analysis and bullish predictions.
Crypto analyst Benjamin Cowen warns that Bitcoin may experience a correction similar to 2019, citing a price pattern and the potential for a Federal Reserve rate cut in the near future.
The Puell Multiple, a technical indicator used to assess if Bitcoin is overbought or oversold, is signaling a potential market reversal as it reaches historical resistance levels, suggesting a price correction may be imminent.
Business intelligence firm MicroStrategy has seen a surge in its stock prices this year, mainly due to its significant investment in Bitcoin, outperforming major tech giants such as Apple and Google. The company's stock value is closely tied to its BTC holdings, which currently stand at around $7.36 billion. However, the potential approval of Bitcoin ETFs in January could pose competition to MicroStrategy's model.
Polygon’s native token, MATIC, has outperformed Bitcoin and Ethereum with a 12% increase in the last 24 hours, attracting the attention of big investors who have been accumulating the cryptocurrency, and trading activity for MATIC has surged by 180%.
Major cryptocurrencies experienced a drop in value as the anticipated "Santa rally" failed to materialize, resulting in disappointment for Bitcoin bulls.
The sentiment towards cryptocurrency during the Christmas period is varied, with some still feeling hesitant and burned from past experiences, while others are more bullish and optimistic about its future. There has been a surge in crypto discussions and market activity, with certain cryptocurrencies like Solana experiencing significant growth. The VanEck CEO also predicts a new all-time high for Bitcoin in the coming year.
Cryptocurrency analyst Kaleo predicts that Celer Network (CELR) could triple in value, with the potential for it to reach $0.0700, while also forecasting a bullish 2024 for the crypto market as a whole, expecting strong performance from altcoins such as Solana, Avalanche, and Chainlink.
The CEO of Ark Invest, Cathie Wood, believes that the U.S. Securities and Exchange Commission (SEC) will likely approve a Spot Bitcoin exchange-traded fund (ETF) by January 10, 2024, as the SEC's understanding of cryptocurrencies has improved, and the demand for diversification strategies in the crypto space grows.
Rejuve, a biotechnology company, is using artificial intelligence and decentralized technology to improve health outcomes and extend healthy lifespans through its recently released Rejuve Longevity app, which aims to democratize longevity and crowdsource data from users worldwide.
Microsoft has quietly released a new AI chatbot app called Copilot for Android, which incorporates advanced language and image generation capabilities and offers comparable sophistication to ChatGPT Plus and OpenAI's paid service. The free app provides advanced AI features and positions itself as a potent alternative to other free or integrated assistants like Siri and Google Assistant. There is speculation about an imminent iOS release.
An anonymous cryptocurrency trader made a profit of over 2,570 times in just six days using 30 Solana tokens by buying and selling Analos, a meme cryptocurrency based on the Solana chain, earning $5.7 million based on only $2,220 worth of Solana.
A Shiba Inu whale has moved trillions of SHIB, worth $46.46 million, as the memecoin's burn rate surges by 2,183% in the last day.
Victims of the infamous Mt. Gox hack are finally receiving repayments after 10 years, but the cryptocurrency exchange accidentally sent "double payments" and is requesting some of the funds back.
Victims of the Mt. Gox cryptocurrency exchange hack, which occurred in 2014, are starting to recover their stolen Bitcoins nearly 10 years later, but some are being asked to return accidental double payments.
SkyBridge Capital CEO Anthony Scaramucci predicts that Bitcoin will surpass its all-time high of $69,000 within the next year.
Barry Silbert has resigned as chairman of Grayscale Investments, while Mark Murphy has also stepped down from the board, with their resignations set to take effect on January 1, 2023; Mark Shifke will replace Silbert as chairman, and the changes come at a crucial time as Grayscale awaits the SEC's potential approval of the first-ever spot Bitcoin ETFs.
BlackRock applies for a spot Bitcoin ETF, FTX CEO Sam Bankman-Fried is found guilty of fraud, Binance and its CEO face criminal charges, and the SEC sues Binance, Coinbase, and Kraken for operating unregistered securities exchanges, summarizing the key events of the year in the crypto industry.
Solana, the fourth largest cryptocurrency, has experienced a slight decrease in value while maintaining a trading price above $100, with its recent performance impressive despite its association with FTX and Sam Bankman-Fried, and its year-to-date increase of 880% accompanied by increased network activity and institutional interest.
Bitcoin and memecoins experience a drop in value as volatility is expected due to year-end flows and options expiries, while the SEC's decision on a Bitcoin ETF awaits.
MicroStrategy, a cloud computing company heavily invested in Bitcoin, has seen impressive returns but suffered a 2% loss in its shares; however, the potential release of a Bitcoin ETF is not expected to greatly impact its performance due to its diversification. Wall Street analysts have a Strong Buy consensus rating on MicroStrategy stock with a price target implying 9.73% upside potential.
The development of Central Bank Digital Currencies (CBDCs) by 130 countries, including the BRICS bloc, poses a risk to the dominance of the US dollar in international finance.
CoinDesk, a leading news and information platform on cryptocurrency and digital assets, has updated its privacy policy and terms of use, and it was acquired by Bullish group in November 2023, with CoinDesk operating as an independent subsidiary.
Solana (SOL) is predicted to experience more gains in 2024 and is currently looking bullish against Ethereum (ETH), according to crypto strategist Altcoin Sherpa, who also identifies Sei (SEI) and Celestia (TIA) as potential projects to watch.
Billionaire Tim Draper predicts that the price of Bitcoin will reach $250,000 in 2024 and expects it to go even higher, citing the potential approval of a Spot Bitcoin ETF in the US as a factor that could drive massive gains for the cryptocurrency. Draper also discusses the role of smart contracts in creating a new economy with less friction.
The Cardano (ADA) price has slightly decreased from its yearly high of $0.68, with analysts offering bullish views for its future price trend, although some predict a potential decrease of 15% to the $0.50 level before another surge to the next resistance at $0.88.
Chinese investors have flocked to the US, particularly Texas, to build and run cryptocurrency mines, raising concerns about socio-economic implications and potential security risks as the origins of the funds used to purchase mines and equipment cannot be traced.
The price of Ripple's XRP has been consolidating in a narrow range since August, but there are indications that volatility may increase in the near future, with the possibility of a breakout from a symmetrical triangle pattern or a breakdown from a key horizontal support area determining the future price prediction.
Hackers stole around $2 billion in crypto this year, marking a downward trend compared to previous years, although persistent vulnerabilities in decentralized finance (DeFi) ecosystems remain a concern.
Coinbase's Ethereum layer-2 network, Base, has established the exchange as a foundational layer for decentralized commerce, attracting millions of users and third-party developers with its on-chain ecosystem and broad range of decentralized apps, making it the project of the year in the industry.
Altcoin Sherpa has increased his holdings for Solana despite acknowledging it may not be the best time, as he anticipates the cryptocurrency to continue its upward trajectory into 2024 due to its accessibility and affordability for new users.
Bitcoin's all-time high mining hash rate of 544 exahashes per second has led to speculation that the cryptocurrency's price could surpass $400,000, but the declining hash price and fading interest in inscription hype are putting pressure on miners.
Bitcoin's price is trading within a pennant pattern, potentially indicating a continuation of the current trend and a possible breakout, while the approval of spot Bitcoin exchange-traded funds (ETFs) could open the door for other cryptocurrency ETFs. WTI oil may face selling pressure after forming a death cross pattern, and the SPDR S&P Biotech ETF's price is on the verge of breaking out to the upside after a leading drug manufacturer announced a major acquisition.
Former Goldman Sachs executive Raoul Pal believes Ethereum will "massively outperform" Bitcoin as investors rotate their capital within the crypto markets, potentially due to the approval of a Bitcoin ETF which could drive participants to reinvest their BTC gains in ETH. Pal also suggests that Bitcoin's price action is likely to resemble its 2015 bull market, with sideways corrections rather than a major collapse.
The price of Shiba Inu (SHIB) has decreased recently, showing weakness in the short term despite a token burn and trading above a long-term resistance area, while technical analysis suggests a potential correction in the daily time frame but a bullish trend in the weekly time frame.
The native cryptocurrency of layer 2 network Metis, Metis (METIS), experienced a 50% surge in the past 24 hours due to a grant announcement, boosting investor interest and pushing trading volumes to $50 million from $2 million in December.
Almost 10 years after the Mt. Gox hack, the crypto exchange is starting to repay customers who lost 850,000 bitcoin, potentially impacting bitcoin prices but not destabilizing the market.
The price of Telcoin (TEL) fell 40% after an error in the Polygon wallet implementation caused user balances to drop and over $1.2 million to be drained from affected accounts, although only users who had never initiated transactions were impacted.