According to BlockBeats, on January 2, the U.S. dollar index rose to a two-year high, as the market expects the Federal Reserve to adopt a more cautious approach to rate cuts in 2025. The market bets that the policies of incoming President Trump, including proposed trade tariffs and tax cuts, will exacerbate inflation and limit rate cuts. Muhammad Saraf of Danske Bank stated that due to the resilience of the U.S. economy, the market expects that the total rate cut throughout the year will not exceed 25 basis points more than twice, which will support the dollar. In December last year, the Federal Reserve also hinted at slowing the pace of rate cuts.
● Bloomberg Analyst: BlackRock's IBIT ranks third in the 2024 Top 20 ETF list
According to Odaily Planet Daily, Bloomberg senior ETF analyst Eric Balchunas stated that VOO closed at $116 billion in the 2024 Top 20 ETF list, $65 billion higher than the previous record. IVV closed strongly at $89 billion, ranking second. BlackRock's Bitcoin ETF IBIT ranked third with $37 billion.
● Dennis Porter: A U.S. state will start purchasing Bitcoin within 4 months
According to PANews, Dennis Porter, co-founder and CEO of the Satoshi Action Fund (SAF), stated on platform X that a U.S. state is almost 100% certain to start purchasing Bitcoin within the next 4 months. He also noted that his team is actively pushing for the passage of related legislation, which is not just a prediction but a reality that is currently unfolding.
● Binance obtains regulatory approval in Brazil, marking its 21st global regulatory license
According to Binance Blog announcement, Binance announced that it has received approval from the Central Bank of Brazil to acquire the licensed brokerage firm Sim;paul, which is authorized to distribute securities and issue electronic money (EMI). Binance has been operating in accordance with Brazilian regulatory requirements, and this approval makes Binance the first cryptocurrency exchange in Brazil to have a brokerage license, marking its 21st authorization globally. Binance CEO Richard Teng stated on social media, "2024 will be an extraordinary year for the crypto industry and Binance, and starting 2025 with our 21st global regulatory milestone is just right. Binance is now a licensed brokerage institution in Brazil, which is a significant achievement in this important market."
● Binance's global registered user count exceeds 250 million
According to an official statement from Binance, the global registered user count has exceeded 250 million, and it stated that 1 billion users is the benchmark for mass adoption, with a quarter already achieved. Previously, Binance announced in June 2024 that its global registered user count reached 200 million, achieving a growth of 50 million users in less than 7 months.
According to Odaily Planet Daily, Dune founder @hagaetc stated that the on-chain adoption rate in 2024 will reach the level of 2021, with transfer volumes and transaction counts surpassing historical highs. The overall on-chain adoption is nearly back to the 2021 peak, with significant decreases in blockchain costs. Although this may be interpreted as a decrease in demand, the deflationary characteristics of technology have driven larger transaction volumes. On-chain transactions will see exponential growth in 2024, with declining fees driving increased usage. Despite facing regulatory resistance and uncertainty, 2024 will still be a breakthrough year for on-chain adoption, with most indicators surpassing the 2021 peak.
