Cryptocurrencies with the worst performance in the previous 24 hours
TOP 5 Losers Coins
| Indices | LTP | Change (%) |
|---|---|---|
| FTX Token | $4.41 | 9.96% |
| dYdX | $3.12 | 9.48% |
| Thorchain | $6.55 | 9.22% |
| Injective | $16.63 | 9.18% |
| Solana | $59.93 | 7.48% |
Crypto News Key Highlights:
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BlackRock and Bitwise's fresh S1 submissions for a spot Bitcoin ETF signal intensified efforts amid Bitcoin's rally past $42,000. Coordinated SEC instructions reveal the complex regulatory landscape. Ongoing amendments and discussions underscore collaborative efforts for Bitcoin ETF approval. The recent SEC meeting with key players like Grayscale emphasizes industry dedication. BlackRock's $100K seed capital adds momentum, and the Bitcoin surge prompts optimism. Potential lines at $48,000 and $52,000 are speculated, awaiting SEC confirmation for the spot-Bitcoin ETF's crucial approval.
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The IRS crime unit reports a surge in cryptocurrency tax evasion cases, marking a shift from money laundering-focused investigations. Jim Lee, chief of the IRS criminal investigation division, notes that nearly half of ongoing digital asset probes involve tax-related issues. The IRS, actively combating crypto crime, emphasizes tax compliance amid global regulatory efforts.
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Hashdex, a contender for a spot Bitcoin ETF, anticipates the first U.S. spot Bitcoin ETF by Q2 2024, followed by a spot Ether ETF. While 90% odds are predicted for spot Bitcoin ETF approval by Jan 10, 2024, the S-1 form approval is crucial for launch, with potential delays. Spot Bitcoin and Ether ETFs could attract legacy asset managers, unlocking a $50 trillion market.
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Coinbase's "Stand With Crypto" initiative plans to gather 2024 U.S. presidential candidates, including Asa Hutchinson, Vivek Ramaswamy, and Dean Phillips, in New Hampshire on Dec. 11. Invitations were extended to Trump, Kennedy Jr., Burgum, Haley, DeSantis, and Christie. The event, preceding the New Hampshire Primary, will cover crypto and broader policies. The forum's impact on crypto-focused voters is uncertain, as leading candidates Biden and Trump seldom address blockchain matters.
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Speculation rises as Dogecoin enthusiasts examine Tesla's CyberTruck website source code, revealing multiple mentions of Dogecoin. While Elon Musk hasn't confirmed Dogecoin payments for Tesla, the community suggests over 50 references indicate potential integration. Musk's influence on DOGE's price remains, and expectations linger for him to implement DOGE payments, similar to Tesla's past Bitcoin integration.
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El Salvador's President Nayib Bukele defends the country's Bitcoin investment strategy, claiming it's "in the black." With Bitcoin prices soaring above $41,500, he asserts that selling at current rates would yield a profit of over $3.2 million. Bukele challenges critics to acknowledge their misjudgments and emphasizes the long-term investment approach.
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Publicly traded crypto firms, including Coinbase, Marathon Digital, Riot Platforms, Galaxy Digital Holdings, and MicroStrategy, experienced significant gains on December 4, with triple-digit percentage returns for the year. Despite a mixed performance in the wider North American stock market, crypto stocks surged as Bitcoin reached a new year-high of over $42,000. Analysts attribute the rally to excitement around Bitcoin's gains, anticipation of ETF approvals, and the upcoming Bitcoin halving in April 2024, signaling a maturing cryptocurrency market.
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South Korean financial authorities collaborate with the Digital Asset Exchange Association (DAXA) and the Financial Intelligence Unit (FIU) to launch a campaign urging the public to report unlicensed cryptocurrency exchanges. This proactive initiative, part of broader regulatory efforts, involves a two-tier review process with potential severe repercussions for non-compliant operators, demonstrating South Korea's commitment to regulatory supervision in the growing digital asset market.
Also read - 24 Crypto Update, 4 Dec: Crypto Cool: Markets Catch a Post-Bull Breath
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