Crypto Snapshot: Latest News and Trends
By SYGNAL
📈 Market News:
- Bitcoin ($BTC) surged past the $100,000 mark earlier this month, marking a historic milestone. However, it has since retreated to $93,350, reflecting a 4% decline for December 2024. (CNBC)
- Ethereum ($ETH) witnessed a 43% price increase over the year 2024, adding $118 billion to its market cap, now valued at $418 billion. (Forbes)
- SUI ($SUI) and Dogecoin ($DOGE) were the top-performing altcoins of 2024, with SUI gaining 509% and Dogecoin climbing 333%, the latter reaching its highest levels since the pandemic. (Forbes)
- Since the U.S. Election Day on November 5, 2024, the global crypto market value has surged by over $1 trillion, hitting a new high of $3.6 trillion. (Forbes)
📜 Regulatory News:
- Montenegro has approved the extradition of Terraform Labs' founder Do Kwon to the U.S. The move underscores increasing scrutiny on stablecoins and regulatory accountability. (Barron's)
🌐 Adoption and Usage:
- Following their approval in January 2024, Bitcoin ETFs have been instrumental in driving institutional adoption, with BlackRock's iShares Bitcoin Trust now managing $60 billion in assets. (Forbes)
💸 Money Flow:
- Over the course of 2024, the crypto market saw a dramatic increase in capital, attributed to the launch of Bitcoin ETFs and heightened institutional interest. The market's aggregate value rose significantly, culminating in a historic high of $3.6 trillion in December. (Forbes)
🗣️ Crypto Influencers:
- Mike Alfred forecasted a major Bitcoin ($BTC) price movement in the coming weeks, pointing to the largest-ever Bitcoin options expiry and market makers' exposure as key factors. (Forbes)
🌟 Other Highlights:
- Over 2024, altcoins like Stellar ($XLM), Toncoin ($TON), and the Hedera Network token ($HBAR) outperformed Bitcoin, with gains of 233%, 155%, and 248%, respectively. (Forbes)
- Dogecoin ($DOGE) saw a remarkable resurgence in 2024, climbing 333% and reaching its highest value since the pandemic. (Forbes)
