Daily Quotes (20:42, December 27, 2024)
ChainDD's market data on December 27 shows that the combined DD index and CoinMarketCap quotes are:
BTC was at $98,044.54, up about 4.28% in 24 hours;
ETH was at $3,474.27, up about 2.53% in 24 hours;
BNB was at $706.3, up about 3.12% in 24 hours;
DOGE was at $0.3314, up about 3.23% in 24 hours;
DOT was trading at $7.45, up about 2.8% in 24 hours.
Cryptocurrency News
Analyst: Continued growth in taker buying suggests Bitcoin may rebound in the coming days
CryptoQuant analyst Burrakesmeci said in an analysis article that since October 28, the buying volume of Bitcoin on the Binance platform has formed a higher low.
Takers are essentially buyers who accept the best immediate price offered by the market. The increase in this metric indicates rising investor interest and buying pressure.
Although the market may be overheated and undergoing adjustments, the continued increase in taker buy volume suggests that Bitcoin's price may rise in the coming days, according to Burrakesmeci.
Famous trader Eugene: Some tokens are approaching or retesting
Famous trader Eugene Ng Ah Sio posted on X platform stating that some tokens are approaching or retesting the daily trend line and are under observation.
Analysis: Bitcoin is facing the risk of closing lower for the month of December
In a record year, Bitcoin's momentum is slowing in the last few days of the year as investors assess the residual momentum brought by President-elect Donald Trump's support for the cryptocurrency space. As of Friday before the European session, Bitcoin was trading around $96,200, recovering part of the nearly 3% drop from the previous day. Digital currencies like Ethereum and Dogecoin fluctuated within a narrow range. In the four trading days ending December 24, investors withdrew a net $1.5 billion from over a dozen U.S. spot Bitcoin ETFs, marking the largest outflow of funds since November 5 when Trump won the U.S. election. According to data compiled by foreign media, Bitcoin is facing the risk of closing lower for the month of December, which would be its first monthly decline in over four months. Bitcoin had previously set a record high of $108,316 on December 17, before retreating.
Cambodia's central bank approves compliant stablecoin services, but still bans Bitcoin
The National Bank of Cambodia (NBC) announced that it would allow commercial banks and payment institutions to provide services related to stablecoins and asset-backed cryptocurrencies, but assets without backing, such as Bitcoin, remain prohibited. The new regulations require institutions to obtain approval before conducting cryptocurrency asset exchanges, transfers, and custody services, while also prohibiting the use of customer assets. Previously, Cambodia blocked 16 unlicensed cryptocurrency trading websites to strengthen the regulation of the digital asset market.
Musk talks again about the X platform recommendation algorithm, mentioning accounts participating in coordinated attacks
Musk posted on X platform stating, "Just a reminder, the algorithm is trying to maximize the seconds of users without regrets. If verified subscriber accounts (not bots) hide/block your account compared to those who like your posts, the reach of your tweets will be significantly reduced. In other words, any account found participating in coordinated attacks to spam accounts with hidden/blocked features will be classified as spam—without a doubt. Surviving on spam and dying from spam."
Bank of Korea: Over 30% of South Koreans hold cryptocurrency
The Bank of Korea released a report based on the number of investors holding accounts at five major South Korean exchanges, Upbit, Bithumb, Coin One, Cobit, and Gopax, stating that as of November this year, the number of people holding cryptocurrency in South Korean exchanges exceeded 15.59 million, an increase of 610,000 from 14.98 million in October. Currently, South Korea's total population is estimated to be around 51.23 million. This means that the number of people holding cryptocurrency accounts for more than 30% of the total population. The report stated that the number of cryptocurrency investors in South Korea has been rising, with a sharp increase in November. This may be a result of the highly optimistic market sentiment following the election victory of President-elect Trump in early November.
