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The three major indices of the United States stock market closed with gains. The Nasdaq Composite index recorded a 1.35% increase from the previous day, closing at 20,031.13 points on the 25th. The Dow Jones index rose by 0.91%, closing at 43,297.03 points, and the S&P 500 index ended the day with a 1.10% increase, closing at 6,040 points.
On the 24th (local time), cryptocurrency-focused media Cointelegraph cited multiple experts, reporting that "Ethereum (ETH)'s upcoming network upgrade next year, the rise of artificial intelligence (AI) agents, increased institutional interest through spot ETFs, and a crypto-friendly stance from the next U.S. administration are fueling market optimism." Ethereum is set to undergo the Pectra upgrade in 2025, which promises improvements such as increasing the validator requirement from 32ETH to 2048ETH, reducing staking costs, and enhancing wallet features. The media outlet noted, "With the policy shift under the Trump Administration, more projects are expected to fall within legal boundaries. The emergence of AI agents on Layer 2 networks and continuous capital inflow into ETH spot ETFs are also noteworthy. Additionally, the launch of Layer 2 networks by new players like Deutsche Bank is anticipated."
Bitcoin (BTC) temporarily returned to the $98,000 level. Meanwhile, BTC is trading at $97,966.67, up 5.18% from the previous day, as of 04:40 on the 25th in the Binance Tether (USDT) market.
According to The Block, a cryptocurrency-focused media outlet, Coinbase International, a derivatives trading platform under Coinbase, recorded a trading volume of $119 billion last week, marking a 124% increase from the previous week. The average daily trading volume was reported to be $20 billion, a 164% increase from the previous week. Coinbase International is an exchange used by institutions outside the United States rather than individual investors, with perpetual futures trading volumes of Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and Dogecoin (DOGE) accounting for 99.98% of the total trading volume.
On-chain analytics firm Glassnode reported on the 24th (local time) via its official X (formerly Twitter) that "Solana (SOL) has maintained a capital inflow trend for most days since early September 2023," adding, "This continuous liquidity inflow has driven the price up. There were days when $776 million in new capital flowed in." Meanwhile, SOL is trading at $195.66, up 5.53% from the previous day, based on the Binance Tether (USDT) market as of 00:55 on the 25th.
On the 25th, the domestic cryptocurrency exchange Bithumb announced that the processing of cryptocurrency deposits is temporarily delayed due to internal system work.
Bitcoin (BTC) temporarily recovered to the $98,000 mark. Meanwhile, BTC is trading at $98,000.02 on the Binance Tether (USDT) market as of 00:39 on the 25th, up 4.70% from the previous day.
Nick Tomaino, founder of the cryptocurrency venture capital firm One Confirmation, stated on the 24th (local time) via X (formerly Twitter) that "Ethereum (ETH) is the world's best monetary policy internet-native store of value," and "while Bitcoin (BTC) supply increases until 2140, Ethereum's supply decreases as its use in DeFi, stablecoins, NFTs, prediction markets, and SocialFi increases." He added, "Stake ETH to earn yields and hold long-term." Meanwhile, ETH is trading at $3,484.99, up 5.89% from the previous day, as of 00:35 on the 25th in the Binance Tether (USDT) market.
On the 24th (local time), according to the cryptocurrency specialized media CryptoBasic, the Italy Central Bank recently announced that it considers Bitcoin (BTC) P2P (peer-to-peer) platforms as potential criminal services. This is because transactions are conducted anonymously, which could be exploited for money laundering. Furthermore, it pointed out that DeFi platforms also lack anti-money laundering entities, making them susceptible to illegal use.
The three major indices of the United States stock market are showing an upward trend. The Nasdaq Composite Index is trading at 19,906.50 points, up 0.72% from the previous day as of 00:00 on the 25th. The Dow Jones Index is up 0.07% at 42,937.46 points, and the S&P500 Index is recording a 0.43% increase at 5,999.70 points.
The three major indices of the U.S. stock market closed with gains. The Nasdaq Composite Index rose 0.95% from the previous day to 19,757.58 points on the 24th. The Dow Jones Index rose 0.16% to 42,906.95 points, and the S&P500 Index closed at 5,972.90 points, up 0.71%.
On the 23rd (local time), the Wall Street Journal (WSJ) reported that advancements in quantum computing could threaten the security of Bitcoin (BTC), describing it as a "ticking time bomb." The media outlet stated, "Advancements in quantum computing could pose a threat to Bitcoin, and potentially the entire blockchain industry," explaining that "within 10 years, quantum computers might render Bitcoin's security architecture obsolete." Furthermore, it added, "Bitcoin will be a target," noting that "while banks have regulations, defense mechanisms, and customer protection capabilities, Bitcoin is like the Wild West. If Bitcoin is stolen, wallets will not compensate for it."
Eleanor Terrett, a Fox Business reporter, reported on the 23rd (local time) via her X (formerly Twitter) that the cryptocurrency payment company MoonPay is in negotiations to acquire Helio. The acquisition is valued at approximately $150 million, which would be MoonPay's largest acquisition to date.
According to the cryptocurrency-focused media outlet Decrypt on the 23rd (local time), a Red Notice has been issued by Interpol for Richard Heart, the founder of the cryptocurrency project HEX. Interpol stated, "The Red Notice was issued at the request of law enforcement agencies worldwide," adding, "A Red Notice is a request level and not an international arrest warrant." Previously, the U.S. Securities and Exchange Commission charged Richard Heart with securities fraud and unregistered securities sales, alleging that he used funds raised from investors to purchase luxury watches, cars, and diamonds.
On the 23rd (local time), according to the cryptocurrency specialized media Cointelegraph, the Securities Commission of Malaysia has added the cryptocurrency wallet Atomic Wallet to the list of financial companies prohibited from operating domestically. The regulatory body reportedly cited Atomic Wallet for operating an unregistered Digital Asset Exchange (DAX). Previously, Atomic Wallet suffered a $100 million loss due to a hacking incident in June last year, with the North Korean hacker group Lazarus being identified as the culprit.
Bitcoin (BTC) temporarily recovered to the $93,000 level. Meanwhile, BTC is trading at $92,996.01, down 3.10% from the previous day, as of 02:50 on the 24th, based on the Binance Tether (USDT) market.
Michael Saylor, the founder of MicroStrategy (NASDAQ ticker: MSTR), which holds the most Bitcoin (BTC) among single companies, announced on the 23rd (local time) via his X (formerly Twitter) that "MSTR stock has risen 477% this year amidst the Red Sweep (a phenomenon where the Republican Party takes control of the White House and both houses of Congress)."
According to The Block, a cryptocurrency-focused media outlet, Crypto.com announced on the 23rd (local time) that it will launch its own sports prediction service, allowing bets on sports events such as the Super Bowl. This service operates similarly to the decentralized prediction market platform Polymarket, allowing bets on the likelihood of specific sports teams winning. According to the media, it is described as a U.S. Commodity Futures Trading Commission (CFTC) regulated derivative trading feature based on the Crypto.com app and website.
According to the cryptocurrency-focused media WatcherGuru X (formerly Twitter) account on the 23rd (local time), the United States Internal Revenue Service (IRS) has stated that cryptocurrency staking is subject to taxation.
Bitcoin (BTC) temporarily recovered to the $94,000 level. Meanwhile, BTC is trading at $94,089.94, down 1.58% from the previous day, as of 01:49 on the 24th, based on the Binance Tether (USDT) market.
The on-chain analysis platform for cryptocurrencies, Santiment, reported on the 23rd (local time) via X (formerly Twitter) that "as the cryptocurrency market continues to decline this week, individual investors are feeling fear." It added, "New investors who joined the Bitcoin (BTC) and Ethereum (ETH) markets in the last 2-3 months are experiencing significant FUD (Fear, Uncertainty, Doubt)." Furthermore, it analyzed that "historically, when individual investors start selling in panic, the buying activity of whales has led to a rebound," and "the market is moving in a positive direction." Meanwhile, BTC is trading at $93,789.55, down 1.88% from the previous day, as of 06:06 on the 24th, based on the Binance Tether (USDT) market.
The global cryptocurrency exchange Binance announced on its official blog on the 23rd (local time) that it has recovered a total of $9.1 million in fraud-related funds through this year's Anti-Scam Refund Initiative and has blacklisted 47,000 malicious addresses. Additionally, it reported sending over 15,000 scam warnings to users daily.
Mike McGlone, a senior macro strategist at Bloomberg Intelligence, stated on the 23rd (local time) via his X (formerly Twitter) that "Bitcoin (BTC), which recently hit an all-time high of $108,268, is currently below $93,000," and "this downward trend applies not only to Bitcoin but also to other assets like gold." He continued, "However, Bitcoin has recorded the largest drop due to its high volatility," and "while the S&P500 index is not showing a significant decline in the fourth quarter of this year, it is unlikely that this trend will continue into next year." Meanwhile, BTC is trading at $93,148.23, down 2.15% from the previous day, on the Binance Tether (USDT) market as of 00:54 on the 24th.
According to CoinDesk, a cryptocurrency-focused media outlet, Sonic, a Solana (SOL) Virtual Machine (SVM) Layer 2 network, announced plans to airdrop SONIC tokens to all users who subscribe through TikTok on the 23rd (local time). Previously, Sonic had introduced its own game, SonicX, on TikTok.
According to CoinDesk, a cryptocurrency-focused media outlet, CF Benchmarks, a provider of cryptocurrency benchmark indices, stated that "investment advisors are expected to surpass hedge funds to become the largest holders of U.S.-listed Bitcoin (BTC) and Ethereum (ETH) spot exchange-traded funds (ETFs) next year." They analyzed that "currently, hedge funds account for 45.3% of all BTC spot ETFs, while investment advisors account for 28%." Furthermore, "in the case of ETH spot ETFs, investment advisors already account for 33%, surpassing the hedge fund share of 23.2%. It is expected that next year, the share of investment advisors will exceed 50% for both." Additionally, they noted that "if the monetization of debt in the United States (where the government debt is directly acquired by the central bank) intensifies, the demand for assets like Bitcoin as a hedge against currency weakness will increase."
The three major indices of the U.S. stock market are showing mixed trends. The Nasdaq Composite Index is trading at 19,632.16 points, up 0.30% from the previous session as of 00:02 on the 24th. The Dow Jones Industrial Average is down 0.60% at 42,585.04 points, and the S&P 500 Index is down 0.08% at 5,925.90 points.
The three major indices of the U.S. stock market closed with gains. The Nasdaq Composite Index recorded a 1.07% increase, closing at 19,579.63 points on the 21st. The Dow Jones Index rose by 1.26%, closing at 42,873.79 points, and the S&P 500 Index ended the session with a 1.13% increase at 5,933.50 points.
Over the past three years, approximately 120 cryptocurrency hedge funds have faced difficulties in using banking services. On the 20th (local time), the Wall Street Journal (WSJ) reported, "It is noteworthy that none of the 20 alternative investment firms in other asset classes such as real estate and private credit reported similar difficulties," adding, "Banking issues ranged from unclear communication to termination of relationships." Furthermore, "Half of the cryptocurrency hedge funds that experienced issues reported having received service termination notices from banks," and "The reasons for the decisions were often ambiguous, with banks frequently citing exposure limitations to cryptocurrency clients or the industry." Previously, Coinbase had obtained and disclosed a letter sent by the Federal Deposit Insurance Corporation (FDIC) to banks during the de-banking incident in 2022, requesting them to "temporarily suspend all cryptocurrency-related activities."
Due to the European Union (EU) cryptocurrency regulation law MiCA, several exchanges within Europe are delisting Tether (USDT), and this trend is likely to cause confusion not only for Tether but also for the EU's cryptocurrency market. On the 20th (local time), cryptocurrency specialized media BeInCrypto reported, "It became clear several months ago that Tether does not meet the conditions of MiCA," and pointed out, "Accordingly, EU exchanges must delist USDT by December 30th (local time)." Furthermore, it stated, "As Tether is the most liquid stablecoin, there is growing concern that EU users may receive exclusive and limited services," and explained, "Especially with the U.S. cryptocurrency industry showing strength following Donald Trump's presidential victory, there is a possibility that investment in the EU market will further decrease." Meanwhile, Tether plans to prepare for the launch of a Euro-based stablecoin that complies with future regulations.
According to the cryptocurrency media outlet CryptoSlate on the 20th (local time), the popular meme coin Shiba Inu (SHIB) announced a partnership with Chainlink (LINK) to enhance cross-chain functionality and data integration. The media reports that advanced interoperability features will be introduced to the Shiba Inu network, which is expected to promote network adoption.