The introduction of spot bitcoin ETFs, possibly in early 2024, brings considerable uncertainty for traditional #crypto exchanges like Coinbase. ETF researchers anticipate that this move could significantly impact the market structure, mainly due to reduced transaction fees.
Predictions and Expectations
Some experts predict that if spot #BTC ETFs are launched alongside the reduction of bitcoin mining rewards in April, it could trigger a significant increase in BTC value, potentially reaching $100,000. Samson Mow from Jan3 even suggests that the approval of a spot #bitcoin ETF in the USA could catapult bitcoin's value to as high as 1 million dollars in the ensuing days or weeks.
 Skeptical Views
However, not all forecasts are so optimistic. Nate Geraci of ETF Store and Bloomberg's analyst Eric Balchunas point out that the future might not be as bright for centralized crypto exchanges. Geraci specifically warns that the approval of a spot bitcoin ETF could spell a "bloodbath" for cryptocurrency exchanges.
 

 Transaction Fee Differences
Balchunas highlights a significant difference in transaction fees. While spot bitcoin ETFs would only have a 0.01% fee, exchanges like Coinbase charge up to 0.6%, depending on the transaction volume and type. This discrepancy could lead to substantial market price competition and potential losses for exchanges that have invested heavily in marketing campaigns, such as Super Bowl ads.
 Financial Impact on Coinbase
Coinbase, historically reliant on transaction fees for the bulk of its revenue, reported $2.4 billion in such fees in 2022, accounting for 77% of their total revenue. The company is now working to reduce its dependence on fees and diversifying its revenue streams into other services like subscriptions and financial products.
 Conclusion
Overall, the potential introduction of spot bitcoin ETFs seems to bring not only hope for a rise in bitcoin's value but also significant uncertainty for traditional crypto exchanges. These exchanges will need to find new ways to compete with the lower costs and fees brought about by innovations like spot ETFs.
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 Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

CAKE, the native token of PancakeSwap, has engineered a bullish trajectory as its team launches a proposal to reduce its circulating supply.
Read more on: https://thecryptobasic.com/2023/12/21/cake-surges-22-as-pancakeswap-moves-to-reduce-cake-supply-from-750m-to-450m/
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INDODAX, Indonesia’s most prominent crypto exchange, has listed a Shiba Inu ecosystem token, Bone ShibaSwap (BONE). 
Read more on: https://thecryptobasic.com/2023/12/19/top-indonesian-exchange-lists-shiba-inu-bone-token/
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Stablecoins on #Ethereum (ETH) have experienced a 34% decrease in value since 2022, whereas stablecoins on the Tron network (TRX) have been on a steep rise, with a growth of 57.7%.
Sharp Decline in Stablecoins on Ethereum
The latest report from Sixdegree Lab reveals that the supply of stablecoins on the Ethereum network continues to decrease. From its peak of $100 billion, it has fallen to $66 billion, representing a 34% decline. This trend indicates diminishing interest in stablecoins on the Ethereum platform.
 Steady Growth of Stablecoins on Tron
On the contrary, the supply of stablecoins on the #Tron network is following a steeper trajectory, increasing from $31 billion in 2022 to $48.9 billion. This remarkable growth of 57.7% aligns with the overall cryptocurrency market trend.
 Overall Stablecoin Value Remains Unchanged
Despite recent periods of rising cryptocurrency prices, the overall value of stablecoins has not significantly changed. Currently, the total market value of stablecoins stands at $129.5 billion, reflecting a 31% decrease compared to its peak value of $188 billion.
Largest Market Shares Among Stablecoins
Tether (USDT) commands the largest market share among stablecoins at 56.3%, followed by USD Coin (USDC) at 30.5%, and DAI at 5.07%. These three stablecoins together hold values of $40.03 billion, $21.7 billion, and $3.6 billion, respectively.
 Distribution of Stablecoin Holders
Approximately 50% of stablecoins are held by externally owned accounts (EOA), while centralized exchanges (CEX) account for roughly 30%. In contrast, decentralized finance (DeFi) protocols hold only about 5.5% of stablecoins, a significant decrease from their peak of around 25% in January 2022.
 The decline in the supply of stablecoins within DeFi protocols on Ethereum can be attributed to the rise of Ethereum Layer2 solutions. These Layer2 solutions have provided a more favorable environment for the development of DeFi and innovative protocols.
 Stablecoin Holders on Ethereum
The majority of stablecoin holders on Ethereum (94.2%) hold stablecoins worth less than $1,000, contributing to only 9.28% of the total stablecoin holdings. In contrast, addresses with more than 100,000 stablecoins make up only 0.562% of all addresses but account for a significant 87.6% of the total stablecoin holdings.
Interestingly, approximately 60% of stablecoins held by these top addresses remain inactive. These addresses are either considered reserve addresses, with a spending-to-revenue ratio below 0.2, or inactive addresses that have not engaged in any stablecoin transactions in the last 180 days.
 Stablecoins Still Play a Vital Role
Back in November 2022, there was a positive change in the supply of the four largest stablecoins (USDT, USDC, Binance USD, and Dai), marking the first such occurrence since the collapse of Terra in mid-May 2022.
Stablecoins have become a crucial element for financing cryptocurrency purchases since 2020. The increase in their supply is seen as potential buying pressure or a reserve of funds that investors can use to buy cryptocurrencies or as margin in derivatives trading. Stablecoins continue to be key to daily operations in the cryptocurrency industry, acting as a bridge between traditional finance and the world of cryptocurrencies.
 Stablecoins have become the backbone of the cryptocurrency market," said William Quigley, one of the co-founders of Tether. "Stablecoins are a fundamental component of practically all DeFi applications. Without stablecoins, trading volume and liquidity in the crypto market would likely decrease by 75%."
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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Bitfinex analysts project the global crypto user base could soar to between 850 and 950 million in 2024, given the current bullish market trends.Despite a challenging 2023, the crypto community shows robust growth, with the global number of users climbing from 432 million to 575 million.
The Rising Tide of Crypto Adoption
The cryptocurrency landscape, despite facing a turbulent 2023, is set for a significant upturn. Analysts from the crypto exchange Bitfinex have shed light on an exciting development: the number of global cryptocurrency users, standing at 575 million as of December 1, 2023, is poised for an impressive jump. According to their insights, this number could escalate to between 850 and 950 million by 2024, contingent upon the continuation of bullish market conditions.
Analyzing the Growth Trajectory
Bitfinex analysts attribute this predicted surge to increasing global interest and acceptance of cryptocurrencies. Their report emphasizes that investment activities within the crypto sphere are gaining momentum. One key development that could propel the market beyond current expectations is the approval of a Bitcoin spot exchange-traded fund (ETF). Such a move, as noted by Grayscale CEO Michael Sonnenshein, could significantly boost Bitcoin adoption, potentially unlocking access to the vast “advise market” in the United States, estimated to be worth around $30 trillion.
Statista’s Projection: A Steady Climb
In parallel, the statistics website Statista provides corroborative projections, indicating a steady growth curve for crypto user adoption. Statista forecasts the number of crypto users to reach nearly 833 million in 2024, with a potential to expand to around 992 million by 2028. These projections highlight the sustained interest and expansion of the cryptocurrency realm.
The Future of Crypto: Beyond Numbers
The anticipated growth in crypto users is not just a numerical milestone but signifies a broader shift in financial technology and global economic participation. As cryptocurrencies continue to permeate various sectors, from finance to gaming, their influence is reshaping how value is exchanged and stored in the digital age. The approaching billion-user mark is a testament to the enduring appeal and potential of cryptocurrencies, heralding a new era of decentralized digital assets.
The burgeoning user base of cryptocurrencies signals not only a paradigm shift in digital transactions but also underscores the growing mainstream acceptance of blockchain technology. As the world edges closer to a billion crypto users, the landscape is ripe for innovation, investment, and unprecedented growth, redefining the contours of the global financial ecosystem.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
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If you're seeking an overview of today's significant events in the world of #cryptocurrencies , you're in the right place. This article provides updated information on key trends and events impacting bitcoin, blockchain technology, decentralized finance (DeFi), non-fungible tokens (NFTs), Web3, and cryptocurrency regulation.
SEC Decision Impacts Coinbase and the Cryptocurrency Market
The United States Securities and Exchange Commission (SEC) has opposed Coinbase's request to establish specific rules for cryptocurrency transactions considered as securities. This decision comes at a time when the cryptocurrency market is dealing with uncertainty and volatility. Additionally, Adam Back, the CEO of Blockstream, expressed optimism about the future of #bitcoin , predicting that 2024 will be a period of recovery. This contrasts with the recent drop in SafeMoon's price, which fell by 31% following the announcement of its bankruptcy under Chapter 7.
 Details on the SEC's Rejection of Coinbase's Proposal
The SEC made it clear that additional specific rules for cryptocurrencies are unnecessary, as the existing laws are sufficient to regulate this sector. SEC Chairman Gary Gensler emphasized that cryptocurrencies are already covered under existing securities laws. This decision could have significant implications on how cryptocurrencies will be regulated in the future, indicating that the SEC is taking the cryptocurrency sector seriously.
 Adam Back's Perspective on the Future of Bitcoin
Adam Back, CEO of Blockstream and a pioneer in cryptography, spoke to Cointelegraph about his predictions for the future price of bitcoin. He suggests that upcoming events, such as the next reduction in bitcoin mining rewards, could increase its value. Back emphasized that historical trend lines and previous market cycles indicate that bitcoin has the potential for further growth, despite recent market fluctuations.
 SafeMoon's Financial Troubles
The cryptocurrency SafeMoon is facing financial difficulties following its recent bankruptcy. This move represents a pivotal point in the company's history, which had been striving to gain investor trust in its decentralized financial protocol. This dramatic drop in the value of the SFM token exemplifies how regulatory issues and financial instability can lead to rapid losses in the cryptocurrency market. This story also highlights broader issues that can affect investor confidence in new and unstable cryptocurrencies.
#crypto2023 #crypto2024catch #Binance
 Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

The Shiba Inu (SHIB) community overwhelmingly won a poll for the most vocal and passionate community. 
Read more on: https://thecryptobasic.com/2023/12/18/shiba-inu-lead-reacts-as-shib-wins-big-poll/
#ShibaInuEcosystem #Shiba.Inu-SHIB #crypto2024catch #CryptoStrategy2024 #CryptoNews🔒📰🚫