As of December 25, 2024, the cryptocurrency market is experiencing significant activity, with notable developments across various digital assets.
Ethereum (ETH) is trading at approximately $3,475.80, reflecting a 2.20% increase over the previous close.
BNB (BNB) stands at around $706.80, up by 3.38%.
XRP (XRP) is valued at $2.28, marking a 1.79% rise.
Cardano (ADA) is priced at $0.912, showing a 1.66% increase.
The global cryptocurrency market capitalization has reached $3.42 trillion, indicating a 3.30% increase over the last day.
This growth is partly attributed to recent political developments, such as President-elect Donald Trump's plans to deregulate cryptocurrencies and establish a national Bitcoin reserve, which have positively influenced market sentiment.
However, the market faces challenges, including a rise in cryptocurrency hacks.
In 2024, losses from such incidents surged by 21%, reaching $2.2 billion.
Notably, North Korean-linked crypto hacks hit a record $1.3 billion, with the country using cryptocurrency to evade international sanctions.
Additionally, regulatory discussions are underway in various regions.
In the UK, the Financial Conduct Authority (FCA) has invited industry feedback on a new regulatory framework, aiming for a balanced regime by 2026.
Industry leaders emphasize the importance of this consultation to update and improve regulations, ensuring transparency and protection against frauds and abuses.
Investors should remain aware of the market's volatility and the evolving regulatory landscape, conducting thorough research before making investment decisions.
