🚨 Wondering What's Happening in Crypto Today? Check Out the Top Stories!

Author

CoinGape Media
December 30, 2024

News

Countries worldwide now seem to be racing to establish strategic Bitcoin reserve, as lawmakers in Hong Kong and Germany put forward the proposal. A Hong Kong Legislator said that getting Bitcoin into the city’s Exchange Fund will help maintain financial security amid the changing global crypto dynamics. Following Donald Trump’s victory, countries are more seriously looking at BTC thinking of it as a national reserve to navigate the shifts in global economics.

The launch of spot Bitcoin ETFs and spot Ethereum ETFs in the United States this year has stormed the exchange-traded fund (ETF) market with massive inflows. Of the 740 ETFs launched this year, crypto ETFs dominate the top eight spots in terms of inflows. Following Donald Trump’s victory in 2024 US elections, inflows into BTC and Ether ETF have surged significantly in the hope of crypto-friendly policies and the plans of building a strategic Bitcoin reserve.

MicroStrategy has announced another Bitcoin purchase, bringing its total BTC holdings to 446,400. This is the company’s eighth Bitcoin acquisition in as many weeks.

Pepeto has shattered expectations, raising $2.8 million in its presale phase and generating significant buzz ahead of 2025.

Markets

Crypto prices today showed Bitcoin (BTC) trading below $94,000, reflecting a bearish trend across the market. Altcoins continued their declines, adding to the overall pressure. FTX Token (FTT) led the gains with a 7% price surge after FTX announced claims processing would begin on January 3, with $16 billion in cash set to be repaid.

Tether (USDT), the largest stablecoin by market cap, risks removal from European exchanges due to MiCA non-compliance. The December 30, compliance deadline has raised concerns among market participants.

The global crypto market has declined by approximately 1.5% over the last 24 hours, standing at $3.29 trillion. However, trading volume saw a 12% rise, reaching $90 billion.

Bitcoin’s (BTC) lack of directional bias can be attributed to the lack of trading volume and interest as the 2024 year approaches its end. Bitcoin price today trades around $93K after crashing 14% from its ATH of $108,421.8, with investors being skeptical about what comes next. However, this article explores how January 2025 could trigger a massive uptrend for BTC prices.

Solana prices have significantly dropped, plunging over 30% since their peak in late November. Current technical indicators signal a bearish outlook, implying that prices may further decline in the short term. However, projections indicate potential recovery in the coming months. Here are the key factors that could establish a price floor for Solana.

The year 2024 was transformative for the Web3 ecosystem, witnessing rapid advancements, significant market shifts, and evolving regulatory landscapes. This analysis highlights the key crypto trends that have defined the year, supported by relevant data and insights, providing early to medium-scale crypto investors with a comprehensive understanding of what has transpired in the Web3 space.