The cryptocurrency market continues to experience fluctuations, with Binance Coin (BNB) showing potential for recovery as buyers step back in. With a 2.56% increase in the last 24 hours, BNB
During the past few days, the price of XRP went through considerable turbulence, crashing from $2.60 to below $2 at one point. Since December 21st, the cryptocurrency has managed to consolidate above $2.20, where it’s currently trading. While many market experts are debating on whether or not the XRP bull run is over, it appears that the volatility has caused a massive uptick in trading volume, particularly on Binance. According to a CryptoQuant analyst, XRP has become the most traded altcoin and the leading exchange for December so far. Source: CryptoQuant To be more precise, XRP is the most traded altcoin on the Binance Futures platform, and not on the spot market. It has achieved a trading volume of around $116 billion, with December not yet finished. “It’s important to track the top-traded coins on Binance, as they should be your main focus when trading altcoins. In the past two days, both Bitcoin and altcoins have experienced large declines. XRP seems to be one that could recover quickly.” On December 21st, the popular trader and market analyst Ali Martinez told his followers that the current level of $2.20 is pivotal for the future price of XRP. He maintained that if XRP can “hold above $2.20, it might consolidate for a while before taking another shot at the $2.70 resistnace.” On the other hand, though, the trader said that if this support breaks, a “downswing to $1.96 becomes imminent.” Meanwhile, XRP trades at a 3% increase for the day, but remains almost 11% down during the past week with a total 24-hour trading volume of around $7 billion across all exchanges. The post Ripple (XRP) Achieves a Massive Milestone in December appeared first on CryptoPotato .
MicroStrategy (NASDAQ: MSTR) has been the great beneficiary of the other 2024 boom – the one in the cryptocurrency market . The company’s strategic investment in Bitcoin (BTC), paired with BTC’s own stellar performance, has led to a share price skyrocketing of 384.87% in the year-to-date (YTD) chart and a press time price of $332.23. MSTR stock YTD price chart. Source: Google However, on December 24, 2024, MicroStrategy stock is facing an increasing danger of an imminent plummet, with at least one cause being by the firm’s own design. Specifically, a recent Schedule 14A document filed with the Securities and Exchange Commission (SEC) revealed that Michel Saylor is hoping, with stakeholder approval, to increase the number of MSTR shares by approximately 11 billion. Could MicroStrategy’s latest BTC-buying scheme lead to MSTR stock price collapse? Thus far, MicroStrategy’s various capital-raising drives – all done with the aim of increasing the funds available for additional Bitcoin purchases – have been met with a positive reaction from investors. Still, the intent to increase the number of common shares by 10 billion and preferred equity by 1 billion might, if approved, prove a step too far as it would significantly dilute MSTR equity. Indeed, the plan calls for a thirtyfold increase in the number of shares. On the flip side, even if the so-called 21/21 plan – a plan to raise $42 billion via equity and fixed-income assets to buy more Bitcoin – sends MSTR stock flying back below $100, it would not necessarily be a detrimental development. Ultimately, the planned issuing and its consequences could be either positive or negative for the company and its stakeholders, depending on how high BTC can go and when the current bull cycle in the cryptocurrency market will end. At press time on December 24, Bitcoin is facing strong headwinds and it has, in approximately one week, retraced from its all-time highs (ATH) above $108,000 to the still-impressive $94,000. BTC YTD price chart. Source: Google MicroStrategy goes all in on Bitcoin Such a setup could equally create the perfect opportunity for MicroStrategy – and other traders – to buy the dip, particularly should the recent $250,000 , $350,000 , and $800,000 price target for BTC for 2025 prove correct. Simultaneously, thanks to the rally in the last 12 months and the perpetual volatility of digital assets, further purchases could prove an exceptionally risky maneuver since another ‘crypto winter’ could always be right around the corner. Whatever 2025 brings, by the end of 2024, it has become more evident than ever that Michael Saylor and his firm are going ‘all in’ on Bitcoin. In late November, MicroStrategy executed its largest-ever BTC purchase to the tune of $5.4 billion . In total, MicroStrategy bought more than 200,000 BTC in recent months and, according to the data available at press time, owns more than 400,000 of the cryptocurrency – 2.11% of all Bitcoin in existence, both mined and unmined. Featured image via Shutterstock The post Why MicroStrategy might collapse below $100 in 2025 appeared first on Finbold .
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. The year 2024 marks a watershed moment for financial markets globally as the U.S. Securities and Exchange Commission greenlit the first Bitcoin ( BTC ) spot ETF, a pivotal development signalling a shift toward greater institutional acceptance of digital assets. This milestone underscores the dramatic evolution of cryptocurrencies from niche speculative assets to cornerstone investment opportunities. You might also like: The promises of Bitcoin-backed loans for institutional portfolios | Opinion Major financial entities are increasingly leveraging digital assets for robust portfolio diversification and as a strategic hedge against inflationary pressures. As regulatory frameworks mature and economic necessities press, the integration of cryptocurrencies into traditional financial systems is not just a trend—it is redefining the very mechanics of how financial markets operate, setting the stage for a new era in digital finance. From scepticism to strategy: The institutional pivot to crypto Cryptocurrencies are increasingly recognized for their unique benefits as a diversification tool, offering low correlation with traditional financial assets. The 2024 Gemini Global State of Crypto Report underscores that institutional investors are now more bullish on digital assets than ever, viewing them as essential for portfolio diversification. Concurrently, amid global inflation spikes, cryptocurrencies like Bitcoin are being embraced as alternative hedges. According to Ernst & Young’s 2024 report , institutional investors are gravitating towards Bitcoin for its stability as a store of value, preferring it over traditional assets like gold during inflationary periods. This sentiment is reinforced by data showing that nearly 94% of institutional investors acknowledge the long-term potential of cryptocurrencies and blockchain technology, with 55% planning to increase their digital asset holdings within the next two to three years. As regulatory frameworks continue to evolve, institutional confidence is strengthening. Recent developments, such as the EU’s Markets in Crypto-Assets Regulation , have created a more structured and secure investment environment, reducing the operational risks previously associated with crypto assets. Additionally, the recent U.S. presidential election, which saw the reelection of Donald Trump, is poised to influence the regulatory landscape further. His administration’s historically light regulatory approach to cryptocurrencies may boost investor confidence and foster an environment more conducive to blockchain innovations. This shift could ease the integration of cryptocurrencies into traditional financial systems, marking a significant step toward broader governmental acceptance of digital assets. Moreover, the establishment of dedicated crypto custody solutions by major financial institutions like BNY Mellon and Goldman Sachs highlights the sector’s ongoing maturation, bringing it closer in line with traditional financial operations. Institutional impact: Reshaping market dynamics Institutional investments have substantially enhanced market liquidity in the cryptocurrency sector. According to a 2024 report by Cointribune, institutional inflows into cryptocurrencies reached unprecedented levels, with $14.9 billion entering the market, surpassing the prior record set in 2021. BlackRock’s launch of a blockchain-backed ETF has played a pivotal role in this surge, enhancing liquidity by providing additional entry points for institutional funds and mitigating market volatility. This move by BlackRock has facilitated greater entry points for institutional money, significantly reducing market volatility and stabilizing price fluctuations. Alongside improvements in market liquidity, the influx of institutional investments has also raised the bar for compliance and security within the cryptocurrency sector. The professionalization of the market is exemplified by major banks like JPMorgan, which has introduced a Cryptocurrency Exposure Basket. By offering these innovative products, JPMorgan and similar institutions have established robust custody and security solutions that align with the regulatory standards expected in traditional finance. This advancement is critical in enhancing the trust and safety of investing in digital assets. Moreover, the increasing demand from institutional investors has catalyzed innovation within the financial product landscape. Financial giants such as Goldman Sachs have responded to this demand by expanding their offerings to include Bitcoin futures trading. This development is significant as it represents a broader acceptance of cryptocurrencies within the fabric of traditional banking services, allowing established financial institutions to meet the evolving needs of their clients and incorporate digital assets into their broader investment strategies. Together, these developments—enhanced market liquidity, elevated compliance and security standards, and the proliferation of innovative financial products—illustrate the profound impact institutional investors have on the cryptocurrency landscape. As these trends continue to evolve, they are set to reshape the financial markets, making cryptocurrencies a permanent fixture in the investment portfolios of mainstream financial institutions. Institutional investors: Shaping the future of crypto markets While institutional capital introduces challenges like regulatory inconsistencies, cybersecurity vulnerabilities, and environmental concerns, these issues are catalysts for progress rather than obstacles. Addressing regulatory divergence is driving international efforts to create more unified frameworks, while advancements in cybersecurity are ensuring that digital assets are increasingly protected against evolving threats. Simultaneously, innovations in sustainable blockchain technologies are addressing environmental concerns, aligning crypto investments with ESG priorities and showcasing the industry’s commitment to responsible growth. These strides not only mitigate the challenges but also unlock new opportunities, such as the expansion of DeFi and asset tokenization. Institutional investors are playing a pivotal role in refining the cryptocurrency ecosystem. They are transforming digital assets into integral components of the global financial system, redefining investment paradigms, and heralding a future of greater diversification and stability in financial markets. Read more: Mass crypto adoption requires transparency and education | Opinion Author: Vineet Luthra Vineet Luthra is the co-founder and head of product at Hyblock Capital, a leading crypto trading and analytics platform. With extensive expertise in trading software within the finance and hedge fund space, Vineet has worked at Citigroup and Quantifi, specializing in institutional technology solutions and institutional software sales. Transitioning to the crypto industry, Vineet has adapted to the rapidly evolving landscape of crypto technology. He has a deep understanding of the innovative data sets and products emerging in this space, as well as the unique challenges faced by technology vendors. His extensive background in institutional software sales and product management has enabled him to effectively build, scale, and drive growth for Hyblock Capital. Under his leadership, Hyblock Capital has delivered exceptional value to its customers and established a strong market presence. Vineet’s key responsibilities at Hyblock include sales, strategy, and product management, with a particular focus on customer-facing features and enhancements. His expertise in trading technology and institutional sales, coupled with his insights into the crypto technology landscape, allows him to understand and address the needs of both retail and institutional users seeking advanced trading solutions.
Institutional investors are transforming digital assets into integral components of the global financial system, redefining investment paradigms.
The post Argentina Freezes $3.5 Million in USDT Linked to Rainbowex Pyramid Scheme appeared first on Coinpedia Fintech News Argentina’s justice system has ordered Tether to freeze over $3.5 million in USDT linked to Rainbowex, a suspected pyramid scheme under investigation. The freeze follows a large-scale operation that involved 22 search warrants and the detention of 10 individuals. Rainbowex, which misled investors with promises of high rewards through crypto transactions, was found to operate in a closed-loop system, preventing withdrawals. The Argentine authorities received technical support from exchanges like Lemon and Chainalysis in their efforts. The investigation continues, with international warrants issued for two individuals involved.
How long is correction of Binance Coin (BNB) going to last?
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.