The cryptocurrency market has experienced sharp fluctuations, but prices have recovered. Bitcoin (BTC) has once again surpassed the $100,000 mark. Analysts note that large investors took advantage of the decline to accumulate assets. 342 wallets have been created with more than 100 BTC. Similar activity is observed with XRP and DOGE: over 100 million XRP and 210 million DOGE have been purchased. This indicates high confidence among major players in the future of the market.
Binance and Circle have announced a strategic partnership to promote USDC, the stablecoin jointly owned by Circle and Coinbase. The partnership aims to expand the global use of USDC, including integration into Binance products and support from Circle. This collaboration could strengthen USDC's position amid Tether's dominance, despite challenging market conditions.
Analysts predict that Ethereum (ETH) could reach $5,000 or even $10,000, with key resistance at $3,750 potentially signaling a breakout.
- The number of active addresses and network growth indicate increasing adoption of Ethereum, supporting an optimistic forecast. - The price of ETH recently surpassed $4,000 but then fell to $3,500. It is currently at $3,720. - Some traders expect a new high of $5,000 by the end of 2024.
Raydium became the leader among decentralized exchanges (DEX) in trading volume, surpassing Uniswap by 30%. In November 2024, Raydium captured over 60% of the daily DEX volume on Solana. The increase in volumes is related to active trading of meme coins and collaboration with Pump.fun. The Solana ecosystem has also strengthened its position, exceeding Ethereum in weekly DEX volumes.
Bitcoin (BTC) has once again attracted attention, breaking the psychological mark of $100,000 and reaching a new record of $103,500. However, a recent correction has dropped the price below $94,500. BTC is currently trading around $98,700. A decrease in BTC stocks on exchanges may indicate a possible increase. Analysts predict targets from $101,000 to $275,000, based on technical indicators.
Binance announced the delisting of PEPE/TUSD, DCR/BTC, and ZEN/ETH trading pairs, effective December 13. The decision is due to low liquidity and trading volume. Despite the delisting, the tokens will remain available for trading in other pairs on the platform. The price of PEPE has fallen by 7%, which is due to both Binance's decision and the general decline in the meme coin market.
American investor Ray Dalio, founder of the hedge fund Bridgewater Associates, expressed a preference for investments in Bitcoin and gold instead of debt assets. At a conference in Abu Dhabi, he noted that major economies, including the USA and China, are facing rising debt levels, which could lead to a crisis. Dalio believes that Bitcoin and gold are better at preserving capital under such conditions.
The cryptocurrency XRP temporarily exceeded the $2.40 mark amid optimism surrounding the approval of the Ripple RLUSD stablecoin. Analysts predict a growth potential of $8.40-$48.12, citing strong technical patterns. XRP has risen by 6% in the last 24 hours, despite a market correction. The approval of RLUSD by NYDFS has sparked enthusiasm in the Ripple community.
Toncoin (TON) continues to face volatility in the market. According to IntoTheBlock, wallet profitability has decreased: only 65% of addresses are in profit, compared to 90% last week. 25% of wallets are at a loss, 11% are at breakeven. 85% of holders have owned the coin for less than a year. The price of Toncoin has dropped by 8.41% in the last 24 hours, trading at $5.93.
Crypto.com announced a partnership with Deutsche Bank to provide banking services in Singapore, Australia, and Hong Kong. There are plans for expansion into Europe and the United Kingdom. This collaboration strengthens Crypto.com's position in the region and supports its long-term growth ambitions. Previously, the platform entered into an agreement with Standard Chartered for fiat services.
XRP continues to fall, reaching a new local minimum below $2 twice in the last 24 hours. This came after analysts suggested that the Ripple token has already peaked in this cycle. XRP rose by 400% in November, but after news of a change in the head of the SEC, it began to lose ground. Currently, XRP is behind Tether in third place in market capitalization, having dropped to $114 billion.
- In the fourth quarter of 2024, USDT became the leading digital asset, with 109 million wallets, more than double the number of wallets for Bitcoin and nearing 128 million for Ethereum. - On centralized platforms, 86 million accounts received USDT deposits. - USDT dominates among stablecoins, with 4 times more active wallets than competitors. - The popularity of USDT continues to grow despite market turbulence.
State Duma Deputy from the "New People" party Anton Tkachev proposed to create a strategic reserve of bitcoins in Russia. In an appeal to Finance Minister Anton Siluanov, he emphasized the potential of bitcoin as an alternative to traditional currency reserves. Tkachev noted that cryptocurrencies are becoming an important tool for countries facing sanctions. President Vladimir Putin supported bitcoin, calling it an "unstoppable technology."
Bitcoin once again failed to hold above the $100,000 mark, dropping by $6,000 in just a few hours. The price fell to $94,300 but then recovered to $97,000. In the last 24 hours, liquidations reached $1.5 billion, with $900 million occurring in the last hour. Over 500,000 market participants were affected. Altcoins also suffered significant losses, including double-digit declines. The total market capitalization of the cryptocurrency market decreased to $3.610 trillion.
The government of Bhutan transferred 402 bitcoins worth $39.56 million to QCP Capital, reports SpotOnChain. Since October, the country has been actively selling its bitcoin reserves. Since then, 1,696 BTC worth $139 million has been moved through Binance and QCP Capital. Bhutan owns 11,700 BTC, making it the fourth largest sovereign holder of bitcoin in the world. The reserves are formed through mining, which began in 2019.
Last week, investment products in digital assets recorded inflows of $3.85 billion, surpassing the previous record. Annual inflows reached $41 billion, and assets under management grew to $165 billion.
Ethereum was the main driver, attracting $1.2 billion. Bitcoin also showed significant inflows of $2.5 billion. Meanwhile, Solana lost $14 million.
The USA leads in inflows, while Sweden and Hong Kong recorded outflows.
Ethereum is struggling with resistance at $4,000, falling 3% to $3,850 on Monday. However, analysts like Pentoshi point to structural changes that could lead to a new high. Ethereum has reached its highest weekly close of the year, and the lack of significant resistance could push it to an all-time high of $4,878. However, QCP Capital expects the price to remain rangebound for the rest of the year.
Ethereum is in a critical zone around $4K, facing resistance but also showing signs of consolidation. Short-term fluctuations are expected in the range of $3.5K-$4K before a possible breakout or a deeper pullback. A bullish structure is maintained on the 4-hour chart, but a break below $3.7K could weaken momentum. The rise in funding rates indicates a need for correction for sustainable growth.
Amazon shareholders have urged the company to consider using Bitcoin as a treasury asset. This proposal, supported by the National Center for Public Policy, aims to protect shareholder value and adapt to new financial trends. Analysts believe that this move could impact other corporations, including Apple.
Bitcoin has failed to hold above $101,000 again after its recent rally fueled by interest in U.S. spot ETFs. The price reached $102,000 and $101,300 on Friday and Sunday, but has since retreated to $99,000. The market cap has fallen to $1.960 trillion, with BTC dominance rising to 52.1%. Altcoins such as XRP and DOGE are also falling, with the overall market losing $100 billion.