The Ripple XRP price is currently trading above a key support level, but it is unclear whether it will initiate a bounce to end the year strongly according to analysts, who have mixed predictions for the future of XRP.
Two influential figures in the cryptocurrency world, FTX co-founder Sam Bankman-Fried and Binance founder Changpeng Zhao, faced significant downfalls in 2023 due to scandals and legal troubles, with Bankman-Fried facing a potential prison sentence and Zhao admitting to money laundering and resigning from his position at Binance.
Solana's SOL reached near $100 as its popularity among on-chain traders grew, with trading volumes and network fees surpassing Ethereum's on a seven-day rolling basis, while value locked on Solana applications rose to $1.3 billion; Hong Kong regulators are considering applications for spot cryptocurrency exchange-traded funds (ETFs) for retail investors; Coinbase has received registration as a Virtual Asset Services Provider in France, expanding its offerings in the country.
The Cardano (ADA) price has fallen slightly after reaching a new yearly high, but the overall trend remains bullish according to technical analysis and the RSI indicator. The price is expected to correct before potentially reaching new highs, but there is a possibility of a 18% drop to the $0.50 support level. If the price breaks above $0.68, it could extend the current upward movement by 40%.
The Nasdaq 100 gained over 200 points, with notable insider sales including VeriSign, Coinbase Global, Alphabet, and Toll Brothers.
A UK judge has ordered Craig Wright, the self-proclaimed inventor of Bitcoin, to provide evidence proving that he is Satoshi Nakamoto, the pseudonymous creator of the cryptocurrency, in a court case against him.
Robinhood is expanding its crypto business into the European Union, despite regulatory scrutiny and declining revenues, as the company sees potential in connecting the traditional finance economy with the digital economy through cryptocurrencies.
Hong Kong regulators are now open to considering applications for spot crypto exchange-traded funds (ETFs), marking a shift in their regulatory approach and a willingness to allow retail investors to engage in digital asset investing.
The crypto industry has rebounded and is projected to continue its rally in 2024, driven by increased acceptance and regulatory clarity, as well as the upcoming bitcoin halving event, but it still faces risks such as regulatory crackdowns and extreme risk-taking behavior from investors. Coinbase, the largest crypto exchange in the US, is well-positioned to benefit from these developments but still faces legal challenges from the SEC.
Everlodge (ELDG) has surged 170% during its presale event and is attracting attention as a potential game-changer in the trillion-dollar real estate industry by enabling fractional ownership of luxury properties through NFTs, offering security, transparency, and ease of transfer.
Large wallet addresses on the Cardano blockchain are taking profits as the price of ADA continues to climb, with on-chain data suggesting a potential correction in the altcoin's price.
THORchain (RUNE), a blue-chip altcoin, has the potential to reach new all-time highs if it surpasses the current resistance level on the daily chart, according to cryptocurrency analyst Kaleo, who also predicts Bitcoin to reach over $48,000 in early 2022.
Solana's SOL token approaches $100 as its popularity and trading volumes surpass Ethereum, with its value locked in applications reaching $1.3 billion, resulting in year-to-date gains of over 830%, despite selling pressure from FTX's bankruptcy estate; meme coins, such as BONK and WIF, further boost interest in SOL, and analysts expect continued outperformance driven by retail investors.
Bitcoin options with a notional value of $1.11 billion are set to expire, but it is unlikely to impact spot markets as altcoins lead the market with significant gains.
Bitcoin mining company Marathon Digital has seen a significant increase in its stock price over the past year, despite a drop from its all-time highs, with analysts citing the potential approval of a Bitcoin ETF and the Bitcoin halving as factors driving the growth. Additionally, Marathon Digital has recently expanded its operational capacity through the acquisition of two Bitcoin mining sites.
Machine learning platform Fetch.ai (FET) is poised to reach a new all-time high after successfully retesting a key price level, according to crypto analyst Rekt Capital.
Billionaire Elon Musk downplayed his focus on cryptocurrency during a recent interview, stating that he doesn't spend much time thinking about it and that fiat currency is sufficient for resource allocation.
ShibChain, a Layer-2 scaling solution built on Polygon CDK, has emerged as a rival to Shibarium, the Shiba Inu ecosystem, offering real-world applications and utility for the Shiba Inu token.
Bitcoin mining pool Ocean, led by prominent Bitcoin Core developer Luke Dashjr, has announced that miners can now choose whether to process Bitcoin blocks with non-financial transactions, including controversial Ordinal inscriptions that function like NFTs, showing a potential shift in Dashjr's stance on the matter. Ocean aims to decentralize block template construction by giving miners control over the blocks they mine, offering three block template policy options. While some see this as Dashjr capitulating to the Ordinals, others view it as a clever compromise.
Purpose bound money (PBM) is a form of digital currency that can only be spent in certain ways or under certain conditions, allowing issuers to control its use and the transactions it is involved in. PBM has various potential use cases, including cross-border payments, trade financing, and government disbursements. However, concerns about fungibility and privacy remain. PBM is likely to be implemented alongside central bank digital currencies (CBDCs) and could offer increased efficiency and effectiveness in implementing capital-flow management measures.
Argentina's Minister of Foreign Affairs has announced that the country will recognize Bitcoin as a legally accepted currency for contracts, coinciding with a decline in the value of the Argentine currency.
Crypto is becoming a mainstream form of currency with various utility functions, and its widespread adoption is inevitable, according to Coinbase CEO Brian Armstrong. Meanwhile, CEOs from a restaurant group, a yogurt company, and a fintech firm discuss consumer preferences for quality, value, and hospitality, as well as the benefits of buy now, pay later options compared to traditional credit cards. However, rising credit card balances and delinquencies among lower-income consumers indicate potential risks in the future.
El Salvador has passed a law that grants citizenship to foreign Bitcoin investors who make "donations" to government programs, aiming to further develop the country's Bitcoin project.
Ripple president Monica Long believes that 2024 will be a turning point for the crypto industry, with a focus on building compliance tools for decentralized finance and achieving mainstream recognition through institutional adoption.
The value of the memecoin Bonk, a Shiba Inu-themed Solana token, has increased by over 400% in the past month, fueled by the hype surrounding the token and the Solana Saga phone, while other Solana-based memecoins like Dogwifhat have also seen significant gains.
Santiment warns that the rising social media discussions around Solana, Stacks, and NEAR Protocol indicate potential market tops, while declining trading volumes and social media discussions for altcoins suggest a cooling market; the firm also notes an increase in exchange supply of Bitcoin and watches the mean dollar invested age metric for a potential surge to $50,000 in early 2024.
Web3 startups need to go beyond finding product-market fit and instead focus on finding real use cases for emerging technology, particularly asset tokenization, in order to thrive in the crypto industry.
Crypto exchange Coinbase has received registration as a Virtual Asset Services Provider in France, allowing it to offer a full range of products and services in the country, including custody of digital assets and trading.
Digital finance technologies, including distributed ledger technology (DLT) and blockchain, have the potential to improve operational efficiency in bond issuances, increase accessibility of real-world assets through tokenization, and promote industry growth; however, obstacles such as lack of interoperability, standardization, reliable digital cash options, regulatory uncertainty, and technology risks need to be addressed for wider adoption. Ethereum has emerged as a popular platform for digital bond issuances, and the adoption of tokenization has increased on public blockchains, particularly on Ethereum. The development of tokenized bank deposits and central bank digital currencies (CBDCs) is expected to progress in 2024, although their level of interaction with public blockchains remains uncertain. Legal clarity and regulatory frameworks for digital assets and services are also expected to improve, although different regions may advance at different paces.
NEAR, the native token of the NEAR blockchain protocol, has experienced significant gains in 2023, with a price increase of over 150%, and is expected to continue growing due to positive indicators, increased network adoption, and positive sentiment from analysts and influencers. Additionally, Sponge V2, the upgraded version of the viral meme coin Sponge, is set to launch in 2024 with new utility and incentives that could propel its value even higher.
The 2024 outlook for the cryptocurrency market suggests a potential transformative leap forward for the asset class, driven by institutional adoption, improved accessibility for advisors, and bullish catalysts such as the potential approval of Bitcoin and Ethereum spot ETFs, the Bitcoin halving, and a favorable macroeconomic backdrop. Advisors are advised to diversify their crypto exposure beyond Bitcoin and Ether and consider various methods of allocation, while understanding the complexity of the market and accessing crypto strategies through fund structures or managed accounts platforms.
Ethereum developers are preparing for the upcoming Dencun upgrade, which aims to add data storage capacity through "proto-danksharding" and is scheduled for testing in January 2024.
Blockchain platform Prometheum has obtained approval from the Financial Industry Regulatory Authority (FINRA) to clear and settle digital asset securities trades, marking a major regulatory milestone for operating within US Securities and Exchange Commission (SEC) regulations; Prometheum plans to launch its custody services in Q1 2024, followed by trading and clearing in Q2, addressing the pent-up demand of institutional clients waiting to participate in the space.
The Near Protocol (NEAR) price has surged by 65% in the past four days, reaching a 440-day high of $3.44, with an overall increase of 80% so far in December, but its sustainability is still uncertain as it depends on factors such as the RSI readings and the ability to maintain resistance levels.
Ohio Senator Sherrod Brown, a prominent critic of the cryptocurrency industry, is facing a tough reelection campaign with GOP candidate Bernie Moreno, a strong advocate for crypto technology, in a clash that could impact the balance of power in Congress.
China is reportedly pushing ahead with the development of non-fungible tokens (NFTs) and blockchain-based decentralized applications, despite its ban on crypto trading and mining, as the country recognizes the importance of blockchain technology for government surveillance and identification purposes.
Solana (SOL) experienced significant gains in 2023, increasing over 700% since the start of the year, followed by Avalanche (AVAX), Stacks (STX), and Helium's (HNT), with analysts highlighting the booming segment of tokenization of real-world assets as an area to watch; in other news, the founders of the bankrupt crypto hedge fund Three Arrows Capital had $1 billion in assets frozen by a British Virgin Islands court, and Bitcoin (BTC) rebounded after a drop caused by the stock market decline, with SOL and AVAX also recovering.
Brooklyn wellness hangout Bathhouse is using Bitcoin miners to power its heated pools, generating cryptocurrency while reducing its energy costs. The founders converted the miners for immersion cooling and use the residual heat to warm the pools, allowing them to offset energy expenses and accumulate Bitcoin assets. The company plans to expand its bathhouse concept to other cities and continue leveraging mining operations to heat its pools.
Ethereum is poised for a significant rally, potentially increasing by more than 60% from its current value, as it prepares for a climb towards $3,500 after a period of accumulation, according to crypto analyst Ali Martinez. Meanwhile, Chainlink faces a major resistance level at $15 before it can continue its upward trajectory, while Bitcoin is forming a bearish descending triangle pattern that could trigger a significant price move.
Cathie Wood's investment firm, ARK Invest, sold $196.8 million worth of Coinbase stock in December as the shares surged, and also reduced its holdings in the Grayscale Bitcoin Trust while increasing its position in Block.
The Avalanche (AVAX) price has doubled in December, reaching a new yearly high of $46.40 and approaching the $50 level, with analysts predicting a potential increase to $59 if the bullish trend continues, although a daily close below $44 could result in a 50% drop to $22.
Coinbase, the cryptocurrency exchange, is diversifying its core business by focusing on real-world asset tokenization, which could be a $10 trillion market opportunity by 2030 and potentially lead to significant growth for the company.
Coinbase, the cryptocurrency exchange, is diversifying its business by seizing on the $10 trillion opportunity of real-world asset tokenization, which could significantly boost its future growth prospects.
Layer-1 blockchain Solana (SOL) saw the highest token price gains in 2023, followed closely by altcoins Avalanche (AVAX), Stacks (STX), and Helium's (HNT), while bitcoin (BTC) also performed well and there are positive predictions for bitcoin and ether (ETH) in 2024, with a focus on decentralized identity and real-world assets.
Ethereum (ETH) has underperformed compared to Bitcoin (BTC), leading to speculation that it may be dead, but supporters argue that its fundamentals are strong and the bull run is yet to begin.
The launch of a bitcoin spot exchange-traded fund (ETF) in January is expected to have limited initial demand, which may result in short-term volatility for bitcoin and a shift in focus towards ether.
Pandoshi, a newcomer in the cryptocurrency market, is gaining recognition for its unique methods and successful fundraising, aiming to revolutionize decentralized finance with its diverse ecosystem and focus on decentralization, privacy, and community governance. It is set to launch its beta wallet and expand its presence in the industry, positioning itself as a potential game-changer in the crypto sector.
Solar is launching a "soft launch" phase for its Solar Card, allowing a select group of 1000 Android users to test the application and provide feedback for improvements.
Solana Labs accidentally oversold their Saga smartphone due to an inventory management issue, leaving some customers without their orders and prompting refunds.
Crypto startup Worldcoin has stopped offering its Orb-verification service, which uses an eyeball-scanning device, in India, Brazil, and France due to regulatory hurdles and to ensure compliance with global regulations.