Recent on-chain metrics reveal a significant outflow of $150.03 million in Dogecoin (DOGE), signaling heightened interest from investors. Despite a price decline of over 13.5%, long-term investors and whales are
The adverse price developments that started after the controversial statements by the Chair of the US Federal Reserve continue today as well, with BTC dumping to under $98,000. The altcoins have been hit even more severely, with massive double-digit losses from the likes of ETH, DOGE, ADA, AVAX, LINK, and many others. Cryptocurrency Market Overview. Source: QuantifyCrypto CryptoPotato reported yesterday’s price movements, which came just minutes after the latest FOMC meeting, in which Powell said the Fed couldn’t purchase bitcoin, and he warned that the rate cuts for 2025 might be halted. BTC slumped from over $105,000 to just under $98,000, and the altcoins followed suit. The primary cryptocurrency managed to recover some ground today and even spiked to nearly $103,000 hours ago. However, the asset is in another freefall state as its price plunged by several grand once again minutes ago, dumping to a weekly low of $97,500 (on Bitstamp) for now. As the graph above demonstrates, the entire cryptocurrency market is deep in red. XRP continues to bleed out as it dipped beneath $2.2 earlier and is now down by over 10%. Similar or even more severe price dumps are evident from DOGE, SHIB, AVAX, LINK, ADA, BCH, DOT, XLM, SUI, and even ETH. The second-largest cryptocurrency lost the important $3,500 resistance level and now sits below it after an 11% daily decline. These massive price fluctuations have harmed over-leveraged traders, with more than 330,000 such market participants getting wrecked over the past 24 hours. The total value of liquidated positions is up to over $1 billion, according to CoinGlass. The single-largest wrecked order took place on Bitmex. It involved ETH and was worth north of $11 million. Liquidation Heat Map. Source: CoinGlass The post Liquidations Skyrocket Beyond $1 Billion as BTC, Altcoins Bleed Out Heavily Again appeared first on CryptoPotato .
The buyout marks a pivot toward threat prevention for Chainalysis.
Bitcoin mining company Hut 8 (HUT) made an ambitious move by purchasing 990 Bitcoins for approximately $100 million at an average price of $101,710 per coin. The latest purchase brings the company’s total Bitcoin reserves to 10,096 BTC worth approximately $1 billion, placing Hut 8 among the top 10 institutional BTC holders. The Miami-based firm plans to use its Bitcoin reserves through a variety of strategies, including options, commitments, and puts. “Today, the market recognizes and values our strategic reserve, which effectively lowers our cost of capital and strengthens our financial position,” Hut 8 CEO Asher Genoot said in a statement. Genoot also noted that the company is open to purchasing more Bitcoin when market conditions are favorable. The acquisition comes after Hut 8 recently launched a $500 million intra-market equity issuance program, the proceeds of which are earmarked for BTC purchases and other investments. Related News: El Salvador Takes Another Step Back on Bitcoin - Country's BTC Officer Issues Statement Other miners have recently followed suit. Riot Platforms (RIOT) purchased 667 Bitcoin at an average price of $101,135 on Dec. 16, while MARA Holdings (MARA) has also been actively purchasing BTC to strengthen its finances. These strategies are proving effective as miners face shrinking profit margins following the recent Bitcoin halving. For example, MARA raised $1 billion in convertible debt last month, giving investors exposure to BTC equity instead of traditional interest income. Hut 8 sees its Bitcoin reserve as more than just a store of value. “We view our strategic reserve as a dynamic financial asset that can generate returns beyond a simple price appreciation,” CEO Genoot said. *This is not investment advice. Continue Reading: Another Company Announces Large Bitcoin Purchase: Here is its Average Purchase Price
Forget the mid-December dip – Wall Street Pepe (WEPE) is going from strength to strength. This new meme coin project has raised over $31 million in its token presale event, defying the market cooldown. And many early investors believe it could be the next big crypto success story. WEPE Token Presale Grows Despite Market Downturn
On-chain metrics revealed that exchanges have witnessed a significant $150.03 million worth of DOGE outflow.
Earlier this week, Bybit announced their exit from France. We’re proud to be expanding in France and across Europe, fully committed to operating in compliance with regulatory requirements. As one of the longest-standing crypto exchanges, we’ve built a strong foundation in Europe, where we are a leader in euro trading volumes and continue to prioritize our clients’ security and trust. For Bybit users looking for a smooth, secure transition, we are here to help. Founded over 13 years ago with a clear belief that trust is essential for crypto to thrive, Kraken has always prioritized security, reliability and client service. We’ve consistently set industry standards, from pioneering the Proof of Reserves process in 2014 to conducting regular audits, ensuring client holdings are fully backed. Our long track record of transparency, leadership and security sets us apart as a trusted partner in the crypto space. Over the past two years, we’ve accelerated our expansion in Europe ahead of the Markets in Crypto-Assets Regulation (MiCA). Kraken now offers Virtual Asset Service Provider (VASP) services directly or through partnerships in Germany,* Spain, Italy, the Netherlands, Belgium,** Ireland, France and Poland. Kraken is well-positioned to offer clients a safe harbor during times of uncertainty by leveraging our global scale and best-in-class product suite. How to deposit cryptocurrencies to your Kraken or Kraken Pro account: Sign in to your Kraken account and navigate to Portfolio. Click the deposit button. Search for the cryptocurrency you wish to deposit and click on it. Click the copy icon and paste the address (and details, if needed) into your sending wallet. Once the transaction is sent, your deposit will be credited after the required confirmations are met. Want more information on how to transfer assets to Kraken? See our support page or reach out to our support team in case of any issues through our 24/7 support chat. Get started with Kraken * Powered by DLT Finance, a brand of DLT Securities GmbH and DLT Custody GmbH. Both companies are supervised by BaFin. ** Kraken offers services in Belgium from its registered Virtual Asset Service Provider in Ireland. These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are regulated and others are unregulated; regardless, Kraken may or may not be required to be registered or otherwise authorised to provide specific products and services in each market, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply. See Legal Disclosures for each jurisdiction here . The post Bybit is leaving the French market. Transfer your assets to one of the longest-standing crypto exchanges. appeared first on Kraken Blog .
The stablecoin market reached a new high in December 2024, crossing the $200 billion mark in total market capitalization for the first time, according to the Decemeber 2024 edition of CCData’s Stablecoins & CBDCs Report. This growth reflects the expanding role of stablecoins in the digital asset ecosystem, despite tightening regulatory pressures, particularly in Europe.
December 19, 2024 – London, United Kingdom As cryptocurrency adoption expands, so do the associated risks, including physical threats targeting crypto holders. Traditional wallets often lack safeguards to address real-world coercion scenarios. Addressing this challenge, Deus Wallet introduces a new feature – ‘d uress mode.’ This technology, integrated into Deus’s non-custodial framework, provides an added layer of security to help safeguard cryptocurrency assets and user safety in high-risk situations. The issue – C rypto security is more than digital While digital security has advanced with multi-signature wallets, biometric authentication and hardware devices, physical security remains overlooked. Criminals have adapted their tactics, targeting crypto holders. Considering real-life examples 2022, London – Criminals broke into a businessman’s home and extorted $1.1 million in Bitcoin at gunpoint. 2023, New York – A crypto trader was kidnapped and forced to transfer $400,000 while held captive. 2021, Bangkok – A prominent investor managing millions in crypto was ambushed by an international gang and coerced into transferring $2.7 million. In each case, victims lacked the tools to mitigate risks under pressure. Standard wallets provide no ‘last line of defense’ for these real-world threats. Deus Wallet – Next-level protection Deus Wallet tackles this vulnerability with its non-custodial structure and duress mode. This approach allows users to retain full control over their assets while incorporating an additional security measure designed to address specific risks. Non-custodial goal With Deus, private keys are stored exclusively by the user – not on any centralized server. This eliminates third-party risks such as hacking, insider theft or regulatory overreach. In an era where centralization poses increasing threats, non-custodial wallets offer unparalleled independence and security. Duress mode was developed with one goal – to protect users in life-threatening situations. The way it works Duress PIN configuration – Setting a secondary PIN during wallet setup. Under coercion – Entering the duress PIN instead of the regular one. Seamless Decoy – The wallet opens a fake account with minimal or no funds, while users’ actual assets remain hidden. This feature ensures that attackers see what appears to be the entire wallet balance, without ever suspecting the existence of hidden funds. Deus Wallet is part of a growing movement to rethink cryptocurrency security. As the crypto ecosystem matures, protecting users in both digital and physical spaces is becoming more important. The bigger picture Rising crypto adoption – As cryptocurrencies enter mainstream finance, the average user profile shifts from tech-savvy enthusiasts to general consumers, many of whom lack advanced security awareness. Criminal adaptability – Criminals exploit the pseudonymity of blockchain transactions, knowing that once assets are transferred, they’re nearly impossible to recover. The security gap – While solutions like hardware wallets protect against cyber threats, tools like duress mode address the issue of physical security. Deus Wallet is at the forefront of this shift, setting a new standard for protecting users and their assets. Key features of Deus Wallet Non-custodial architecture – Full control of private keys ensures users’ funds are always theirs. Duress mode – A revolutionary feature to safeguard assets under physical coercion. User-friendly design – Intuitive interface suitable for beginners and experts alike. Advanced encryption – Multi-layered security protects against cyberattacks. Customizable settings – Users can define access parameters and duress mode triggers according to their preferences. Cross-platform compatibility – Available on iOS and Android. In today’s world, digital and physical security go hand-in-hand. Deus Wallet provides a comprehensive solution, ensuring that users’ assets and personal safety are never compromised. About Deus Wallet Deus Wallet offers a comprehensive platform for storing and managing cryptocurrencies and NFTs (non-fungible tokens), featuring tools to track account activity and streamline asset management. By integrating multiple functionalities, Deus Wallet eliminates the need to navigate several decentralized platforms. With a focus on user-friendly design, Deus Wallet balances simplicity and functionality, making it a practical choice for those seeking efficient and accessible solutions. Trusted by users in over 166 countries, Deus Wallet serves a broad audience, including individuals and enterprises, across five continents. Deus Wallet is designed to support both new and experienced users, providing tools for secure asset management and streamlined engagement with DeFi (decentralized finance). Users can visit the website to learn more about how Deus Wallet is reshaping crypto security for the modern age. Contact Pavel Derkach , Deus Wallet This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility. Follow Us on Twitter Facebook Telegram Check out the Latest Industry Announcements The post Deus Wallet Introduces Duress Mode – The Revolutionary Solution for Cryptocurrency Security appeared first on The Daily Hodl .
El Salvador has reiterated its commitment to Bitcoin in spite of recent developments that saw its digital wallet, Chivo, being sold or retired. This is just days after the country sealed a $1.4 billion loan deal with the International Monetary Fund. The deal forces the scaling back of Bitcoin policies, but the Salvadoran government remains undeterred in its quest to accumulate BTC for its strategic reserves. El Salvador Reaffirms BTC Commitment, to Keep Accumulating Reserves El Salvador recently struck a $1.4 billion deal with the International Monetary Fund (IMF). It is also looking to secure a $3.5 billion deal, but with certain concessions regarding Bitcoin (BTC) to secure the funding. As part of the agreement, the country has agreed to scale back its Bitcoin policies, particularly in relation to its official digital wallet, Chivo, which the country plans to sell or retire. Stacey Herbert, the Director of the National Bitcoin Office, highlighted the fact that Bitcoin would keep on playing a critical role in the country’s financial strategy. She said that, while the Chivo wallet will stop being active, the government will speed up its buying of Bitcoin, continuing to add more BTC to its reserves. EL SALVADOR SECURES $3.5 FUNDING DEAL Bitcoin remains legal tender El Salvador will continue buying bitcoin (at possibly an accelerated pace) for its Strategic Bitcoin Reserve Bitcoin capital markets will continue to be built; for example, the recent tokenized issuance… — Stacy Herbert (@stacyherbert) December 19, 2024 Presently, El Salvador holds 5,968.77 Bitcoin, which is nearly $596 million, with plans to purchase one Bitcoin per day. The IMF required Bitcoin use in the private sector to be voluntary. It also limited public sector involvement in Bitcoin transactions. Despite these restrictions, Herbert stated that many Bitcoin-related initiatives will continue. These include developing Bitcoin capital markets and expanding Bitcoin education programs. Despite Incentives, Bitcoin Adoption Remains Low In September 2021, El Salvador became the first country to adopt Bitcoin as legal tender. This decision was met with skepticism from the IMF due to Bitcoin’s high volatility. The IMF warned that Bitcoin’s adoption could risk future monetary aid to the country. A 2023 survey showed that 88% of Salvadorans had not used Bitcoin in the past year. This highlighted poor national adoption of the cryptocurrency. The Chivo wallet once offered $30 in Bitcoin incentives to encourage sign-ups. Despite this, more than 60% of users never made a single transaction. Despite these setbacks, President Nayib Bukele remains optimistic about Bitcoin’s role in the country’s economy. Earlier this month he celebrated the recent surge past $100,000. Recently, crypto exchange Bitget has achieved a significant milestone, becoming the first digital asset trading platform to be granted a license as a Bitcoin Service Provider by El Salvador’s Central Bank. This development comes after Bukele revealed that El Salvador’s Bitcoin holdings have generated an unrealized profit of $362 million. Though the IMF agreement requires the country to make adjustments to its BTC strategy, the government remains determined to keep Bitcoin as legal tender and to expand its use in key economic initiatives. The post El Salvador Reaffirms BTC Commitment, Will Continue Accumulating Reserves appeared first on CoinGape .