🚨 Curious About Today’s Crypto Buzz? See the Top Trends Now!

Author

CoinGape Media
December 26, 2024

News

SBI VC Trade, a subsidiary of Ripple partner SBI Holdings has entered a deal with hacked crypto exchange DMM Bitcoin, to help its users recover funds. As per the announcement by SBI, DMM’s customers will have their accounts ready by March 2025 following the transfer of custody assets. Furthermore, it will also offer a spot trading facility for DMM customers.

The X account of Animoca Brands executive chairman Yat Siu has been compromised while promoting a fake Solana token launch. As a result, the hackers are promoting suspicious tokens and contracts under the guise of “Animoca Brands issuing new coins”. Mocaverse conducted an investigative survey of the matter and found that this was a case of “stolen identity” despite 2FA authentication set up in place on Siu’s X account.

Japan’s government has officially rejected the idea of including Bitcoin in its national reserves, citing the cryptocurrency’s volatility and its classification outside traditional foreign exchange. This cautious stance contrasts with the growing enthusiasm from private sectors within the country, such as Metaplanet, which is actively investing in Bitcoin, highlighting a significant divide between government policy and private sector initiatives.

Markets

Crypto prices today reflect a bullish trend as Bitcoin (BTC) reached $99,000, rebounding from a low of $92,000. Major altcoins are also displaying positive momentum. Bitget Exchange token (BGB) led the market gains in the past 24 hours, rising by 18%. Over the week, BGB has climbed 48%, outperforming other major altcoins that remained bearish during the same period.

Movement (MOVE) followed as the second top gainer, with a 15% price rise. The global cryptocurrency market cap increased by approximately 1%, reaching $3.43 trillion. However, overall trading volume fell by 11%, settling at $117 billion, largely due to the ongoing Christmas holiday season worldwide.

Market activity is expected to rise next week as the United States prepares for Donald Trump’s presidential oath ceremony in three weeks. The Fear and Greed Index currently stands at 63, indicating that greed persists in the market. Here’s an overview of the leading cryptocurrencies by market capitalization and price movements.

Dogecoin is the original top meme coin, created in 2013 as a joke. DOGE’s initial purpose was not to be a serious investment opportunity. Hence, Dogecoin, a dog-based crypto, does not have a unique value proposition, a robust development team, or a clear roadmap for growth. Its price appreciation is mostly driven by cycles of hype and frenzy. Hence, the chances of Dogecoin price hitting the $50 or $100 mark are highly unlikely.

Ethereum (ETH) shows strong signs of recovery as Bitcoin (BTC) slithered close to $100,000. However, this article explores what would happen to Ethereum price if BTC collapsed to $80,000. Can ETH still manage to retest $4,000 or will it drop lower? Let’s explore this outlook via ETH technical analysis and also by taking a look at what on-chain data shows. Are ETH whales accumulating or selling their holdings?