The post eToro Reveals 37% of UAE Retail Investors Are Bullish on Crypto for 2025 appeared first on Coinpedia Fintech News From 2023 to June 2024, the UAE experienced a huge $34 billion surge in cryptocurrency investments, a 42% increase from the year before. Bitcoin remains a major player, making up 19% of the market, while stablecoins like Tether dominate with 51%. As of now, UAE has boosted $40 billion in Bitcoin holdings which shows its Bitcoin love. Moreover, initiatives like the opening crypto center in Dubai have supported blockchain startups, with an aim to grow its Bitcoin reserves in the country. Over 30% of UAE investors plan to increase crypto investments in 2025 A survey by mobile investment app eToro found that 37% of UAE retail investors aim to boost their cryptocurrency investments in 2025, according to Cointelegraph. Among 1,000 investors, 40% plan to increase… — CoinNess Global (@CoinnessGL) December 24, 2024 Adding to the rising crypto interest, a recent survey by eToro has revealed exciting plans for retail investors in the UAE. The study, which included 1,000 participants, shows that 37% of UAE investors are ready to increase their investments in cryptocurrencies in 2025. This reflects a growing confidence in digital assets as a key part of financial strategies. While crypto is gaining traction, it’s not the only focus. About 40% of investors plan to divert their portfolios to traditional assets like stocks, bonds, and commodities. Real estate remains another popular choice, with 38% eyeing to invest in properties. How They Plan to Achieve It UAE investors are taking proactive steps to meet their financial goals. Over half (51%) plan to save more and invest regularly, while 41% are focusing on better budget tracking. Some are adopting economic habits, like cutting back on dining out, and 32% even plan to start a side business or part-time work for extra income. Plus, 28% are considering switching careers to boost their earnings. More Than Just Money The survey highlights that UAE investors are also keen on personal growth. Around 41% are prioritizing self-improvement, while 34% are focusing on health and well-being. Popular goals include staying fit, advancing professionally, and strengthening family and social bonds. George Naddaf, eToro’s regional manager, called these resolutions a sign of a forward-thinking mindset in the UAE. He noted that while people want financial security they are also adaptable to new technological changes. This shows how smart planning can lead the UAE to become the top crypto hub in the world in the year 2025. Crypto Impact In the meanwhile, the crypto market is bouncing back after a two-day dip, with the market cap increasing by 2.48% to $3.37 trillion. Despite a 42.36% drop in daily trading volumes to $207.62 billion, market sentiment stays optimistic, as shown by the Fear & Greed Index, which sits at a “Greed” score of 62. While Bitcoin is trading at $97,252.93, with a minor gain of 0.11% over the past 24 hours. Bitcoin is a trillion-dollar industry and at present more profitable than traditional financing methods hence all the countries are eyeing this industry to retain their crypto investors.
In a recent update, MicroStrategy’s founder, Michael Saylor, revealed that the company achieved a net income of 3,177 BTC through its financial operations over the past week. This impressive performance
The post North Korea Linked to $305M Hack of Japanese Crypto Exchange DMM appeared first on Coinpedia Fintech News North Korean hackers were behind the May 2024 theft of over 4,500 BTC from Japan’s DMM crypto exchange, resulting in a $305 million loss. U.S. and Japanese authorities revealed that the attack was affiliated with the TraderTraitor group, known for social engineering tactics. The hackers gained access to crypto wallet company Ginco’s communications system through a malicious Python script sent via LinkedIn. They later intercepted a legitimate transaction request from a DMM employee, leading to the theft. North Korea has been responsible for over half of crypto thefts in 2024, totaling $1.34 billion.
A known crypto millionaire, active investor, trader, and Ethereum ( ETH ) supporter continues to capitulate from a losing Ethereum-Bitcoin ( BTC ) trade. James Fickel is among the richest cryptocurrency investors and a recognized entrepreneur in longevity research as the Amaranth Foundation’s founder. In its most recent activity, Fickel swapped another 6,500 ETH for 235.6 wBTC in the Ethereum blockchain. This swap, currently worth around $22 million, is a partial close of the millionaire’s ETH long position against BTC. According to SpotOnChain’ s post , Amaranth’s founder has already lost approximately 22,000 ETH with this trade, worth over $70 million. His wBTC activity dates back from October 2023, supposedly when Fickel started his trades against the leading cryptocurrency. Previously, Finbold reported two partial closes of the crypto millionaire’s Ether-Bitcoin trade – one in August and the other in September . The first happened as decentralized finance (DeFi) investors considered removing wBTC from Aave ( AAVE ) following BitGo’s partnership with Justin Sun. wBTC In/Out flow of James Fickel’s Wallet 0xd85 since October 30, 2023. Source: SpotOnChain James Fickel’s ETH-wBTC position and trades on Aave Essentially, James Fickel is using a DeFi strategy to open long and short positions on spot, without using derivative contracts. Through lending platforms like Aave, investors can supply digital assets to smart contract pools. Then, use these supplied assets as collateral to borrow other cryptocurrencies from other decentralized pools. Therefore, an investor looking to long Ethereum against Bitcoin can supply ETH, use it as collateral to borrow wBTC, and use the borrowed tokens to buy more ETH in decentralized exchanges like Uniswap ( UNI ). If the ETH/BTC exchange rate increases, the trader can swap the purchased amount of ETH for wBTC, repay the debt plus the compounded interest rates, and pocket the profit in their preferred asset. In fact, the millionaire’s position currently has supplied 78,527.95 ETH, worth $317.11 million, according to Arkham Intelligence . With this collateral, Fickel holds a debt of 575.29 wBTC, worth $54.17 million, which he has been repaying. James Fickel’s Borrows & Loans. Source: Arkham Intelligence Ethereum vs. Bitcoin price, trades, and ETFs James Fickel is not the only crypto millionaire adjusting his Ethereum positions from a bearish or more cautious stance. The crypto-native trading firm Cumberland recently deposited $55 million worth of 16,201 ETH to Coinbase , as Lookonchain reported today. Cumberland deposited 16,201 $ETH ($55M) to #Coinbase 20 mins ago. https://t.co/ll57RHO7aa pic.twitter.com/k0YBDg3l1M — Lookonchain (@lookonchain) December 24, 2024 However, Wall Street traditional finance investors appear to be more bullish on ETH than on BTC. This is suggested by the two cryptocurrencies exchange-traded funds ( ETFs ) flows on Monday, with Ethereum leading with increased demand. While “ETH ETFs had a net inflow of $130.8 million,” wrote Sassal on X, “BTC ETFs had a net outflow of $226.5 million.” This highlights the unpredictable and volatile dynamics in the crypto market, with millionaires placing their bets on future price action. Featured image from Shutterstock. The post Crypto millionaire sells more Ethereum for Bitcoin in a $70M-losing trade appeared first on Finbold .
DeFi losses dropped 40% in 2024 as advanced security measures strengthened protocols, while CeFi breaches surged to $694M.
Bitcoin experienced a highly volatile trading session yesterday, with prices swinging between $92,300 and $96,420 throughout the day. The cryptocurrency now hovers near the $93,000 mark, struggling to establish a clear direction in the short term. As market participants await decisive action, uncertainty looms over whether Bitcoin will sustain its bullish structure or face a deeper correction. Related Reading: If History Repeats Dogecoin Has Potential For A Parabolic Rally – Details CryptoQuant analyst Axel Adler recently shared valuable insights, highlighting a significant trend among short-term holders (STH). According to Adler, these investors continue to sell their coins at high-profit margins, capitalizing on Bitcoin’s recent upward momentum. While profit-taking is a natural part of market cycles, the lack of consistent demand to absorb this selling pressure could challenge Bitcoin’s price stability. If demand fails to match the pace of active profit-taking, a local correction could occur, potentially leading to a decline in Bitcoin’s price. This delicate balance between profit-taking and market demand makes the coming days critical for determining Bitcoin’s next move. Will buyers step in to support the price, or will selling pressure lead to a deeper retrace? Investors and analysts are watching closely as Bitcoin navigates this pivotal moment. Bitcoin Demand Levels Responding Bitcoin has faced days of intense volatility as it struggles to break above the $100,000 psychological barrier while holding firm above the $92,000 support. The market remains in a state of flux, with investors and analysts closely monitoring Bitcoin’s next move. Despite the uncertainty, Bitcoin’s resilience at these key levels highlights the ongoing tug-of-war between bullish and bearish forces. Top analyst Axel Adler recently shared an insightful analysis on X, shedding light on the behavior of short-term holders (STHs). According to Adler, STHs are actively selling their coins at high profit margins, taking advantage of the recent price surges. While profit-taking is a normal part of market cycles, a lack of consistent demand to counter this selling pressure could lead to a local correction and a potential price decline. However, in the event of a price drop, STHs are unlikely to continue selling their holdings, as selling at a loss in a bull market is often considered an unwise move. This dynamic could provide Bitcoin with the breathing room needed to stabilize at its key support levels, currently around the $90,000 mark. Related Reading: Solana Holds Weekly Support At $180 – Analyst Expects $330 Mid-Term If Bitcoin successfully holds above $90,000, a period of consolidation around this level could create the foundation for the next rally, potentially propelling BTC to new all-time highs. The coming days will be critical in determining whether Bitcoin continues its ascent or faces a temporary setback. BTC Holding Above $90K Bitcoin is trading at $93,800 after enduring days of selling pressure and market uncertainty. Despite holding above key support at $92,000, the loss of both the 4-hour 200 moving average (MA) and exponential moving average (EMA) is a short-term bearish signal. These indicators, often viewed as gauges of market momentum, suggest that Bitcoin may need additional demand to regain upward traction. For bulls to reclaim control and ignite a fresh rally, Bitcoin must recover these critical levels. The 4-hour 200 MA at $96,500 and the 4-hour 200 EMA at $98,500 are essential hurdles. Successfully pushing above these thresholds and securing a decisive close beyond them would confirm renewed bullish momentum. Related Reading: Ethereum Whales Bought $1 Billion ETH In The Past 96 Hours – Details If Bitcoin achieves this feat, the stage could be set for a massive rally into price discovery, breaking through psychological barriers like $100,000 and paving the way for new all-time highs. On the flip side, failing to reclaim these indicators might signal extended consolidation or a potential retest of lower support levels. Featured image from Dall-E, chart from TradingView
Ethereum faces resistance at $3,500 but metrics reveal traders’ growing confidence.
The post Atomic Wallet Blacklisted in Malaysia Over Unregistered Operations appeared first on Coinpedia Fintech News The Securities Commission of Malaysia has blacklisted Atomic Wallet for operating an unregistered digital asset exchange. The regulator did not elaborate further, but Atomic Wallet’s 2023 hack, which led to over $100 million in losses and multiple lawsuits, likely contributed to its inclusion. Atomic Wallet now joins other crypto firms, including Crypto Trade Malaysia and Best Exchange, on the country’s prohibited list. This move underscores Malaysia’s firm stance on unregulated crypto activities, aiming to protect investors and maintain market integrity.
Finance veterans who left traditional jobs to work with digital assets have enjoyed the 2024 rally.
Ripple's Chief Technology Officer, David Schwartz, has ignited speculation within the XRP community with a cryptic tweet referencing a ”10x increase,” coinciding with a significant price rally for the cryptocurrency. As XRP surged nearly 13% over the weekend, discussions among enthusiasts intensified, pondering the implications of Schwartz's message. Meanwhile, Ripple executed substantial XRP transfers, totaling 90 million tokens, further fueling curiosity about the company's strategic moves. As XRP hovers around the critical $2.20 mark, analysts are closely monitoring its potential for recovery amid a volatile market landscape. Ripple CTO Sparks Speculation in the XRP Community with Cryptic Tweet Amid Major Price Activity Ripple Chief Technology Officer (CTO) David Schwartz has stirred a buzz within the XRP community following a thought-provoking tweet. The post, which cryptically highlighted a “10x increase,” arrived shortly after XRP, the fourth-largest cryptocurrency by market capitalization, rallied nearly 13% over the weekend. The interplay between Schwartz’s tweet and recent market dynamics has fueled debates over the potential trajectory of XRP’s price. On Saturday, Schwartz tweeted a photo of a “Pre-Mix Bubble Solution” can, which boasted of “10x times the bubbles.” The Ripple CTO humorously called attention to the tautology in the phrase, suggesting that either “10x” or “10 times” would suffice. While seemingly innocuous, the post sparked a lively discussion in the XRP community, with some speculating whether the tweet hinted at a potential 10x price increase for XRP. Enthusiasts took to the comments, exploring the possibility of XRP reaching $10 or more in the near future. While Schwartz did not explicitly link the post to XRP’s price action, the timing of the tweet amidst XRP’s recent performance heightened the community’s curiosity. Adding to the intrigue, Ripple made significant XRP transfers over the weekend. Blockchain tracker Whale Alert flagged two substantial transactions totaling 90 million XRP, worth approximately $200 million. The first transfer, containing 50 million XRP valued at $111.7 million, and the second, with 40 million XRP worth $89.6 million, were both sent to anonymous wallets within a single minute. These transfers follow another weekend flurry of XRP activity, with Whale Alert identifying 182 million XRP moved in chunks of 99.9 million, 52.7 million, and 30 million XRP. The cumulative fiat value of these transfers is estimated at a staggering $411 million. The purpose behind these transactions remains unclear, sparking speculation about Ripple’s strategic intentions. Key Price Levels for XRP: Analyst Insights XRP’s recent market activity has drawn the attention of cryptocurrency analysts. Ali Martinez, a prominent crypto trader, highlighted $2.20 as a crucial price level for XRP. Martinez believes that the token must consolidate at this point before attempting to break through the $2.70 resistance level. Conversely, if XRP fails to maintain support at $2.20, Martinez warns that a decline to $1.96 could ensue. As of this writing, XRP is trading at $2.26, marking a period of sideways movement following a tumultuous week. The token experienced a sharp decline of 28% last week, falling from $2.71 to $1.96 before partially recovering over the weekend. The juxtaposition of Schwartz’s cryptic tweet, Ripple’s significant XRP transfers, and the token’s volatile price action has created a swirl of speculation among XRP investors. Some interpret the CTO’s “10x times” tweet as an optimistic hint, while others remain cautious, focusing instead on the technical analysis that outlines potential support and resistance levels. Ripple’s large-scale movements also add to the narrative, with many wondering if the transfers signify preparations for institutional partnerships, market-making activities, or other strategic initiatives. As XRP hovers at the critical $2.26 mark, its next moves could set the tone for the coming weeks. A successful consolidation at this level might open the door to a rally toward $2.70, while failure to hold support could spell further declines. In the meantime, the XRP community remains watchful, dissecting every tweet, transfer, and chart for clues about the token’s future. Whether David Schwartz’s “10x times” tweet was a clever observation or a subtle hint of what’s to come, one thing is clear: XRP continues to captivate the cryptocurrency world with its unpredictable moves and vibrant community discussions. XRP Emerges as the Most Traded Altcoin on Binance Amid Market Volatility Meanwhile, XRP has solidified its position as a standout performer on Binance this December, emerging as the most traded alternative cryptocurrency on the platform. According to data shared by CryptoQuant analyst JA Maartunn, the Ripple-linked token has generated a remarkable $116.6 million in trading volume on Binance Futures, outpacing other altcoins even amid widespread market declines. Despite a challenging trading environment characterized by substantial price drops for Bitcoin and other altcoins, XRP has managed to maintain a strong presence in the market. Earlier today, the cryptocurrency fell to an intraday low of $2.13, marking a decline of more than 4%, according to CoinGecko. This drop further extends XRP's descent, as the token is now down over 25% from its multi-year high of $2.85, achieved on Dec. 3. The earlier rally was largely driven by activity from Coinbase whales, who significantly boosted the token’s trading momentum. However, in the wake of this surge, XRP has faced downward pressure, underperforming relative to other major cryptocurrencies. XRP’s open interest stands at around $1.9 billion, showcasing the token’s robust activity in the derivatives market. Binance accounts for nearly half of this open interest, with $812 million, while Bitget and OKX hold the second and third spots. Recently, XRP generated an impressive $9.6 billion in trading volume, positioning it as the fifth most-traded cryptocurrency globally. It trailed only Bitcoin, Tether’s USDT, Ethereum, and USDC in terms of trading activity. Notably, during the peak of its December rally, XRP briefly flipped Bitcoin in trading volume on South Korean exchanges, underscoring its immense popularity in the region. This surge in activity was accompanied by a record high in Google search volume for XRP, although the heightened interest proved to be short-lived. Analysts Remain Optimistic About XRP’s Recovery JA Maartunn, the CryptoQuant analyst who highlighted XRP’s trading dominance, expressed confidence in the token's ability to recover ”relatively quickly” from its current downturn. Despite recent losses, XRP's strong presence in the futures market and its position as a leading altcoin suggest a resilient investor base. The token’s recovery may also be supported by broader market trends and potential bullish catalysts in the coming years. In 2025, for example, XRP could benefit from the growing buzz around cryptocurrency ETFs in the United States. These developments are expected to bolster institutional adoption and liquidity for digital assets, potentially creating tailwinds for XRP. As 2024 draws to a close, XRP’s performance underscores both its potential and the challenges it faces in a highly volatile market. The token’s ability to dominate Binance’s trading volume reflects strong investor interest, but its recent price declines highlight the broader market’s fragility. Moving forward, XRP’s trajectory will likely depend on several factors, including market sentiment, regulatory developments, and its ability to capitalize on growing institutional interest in cryptocurrency. For now, the Ripple -linked token remains a focal point for traders and analysts alike, as it continues to navigate the highs and lows of the digital asset market.