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Asian shares fell on Monday following disappointing economic data from China, with retail sales slowing and factory output growth flat. Meanwhile, bitcoin surged to new highs, surpassing $106,000, driven by optimism over a lighter regulatory approach under U.S. President-elect Donald Trump. In the stock market, Japan's Nikkei 225 dipped 0.1%, while Hong Kong's Hang Seng lost 0.8%. The S&P 500 ended nearly flat, marking its first weekly loss after three consecutive gains, despite a significant rise in Broadcom's shares following strong earnings.
Dogecoin is poised for continued growth in 2025, driven by increased adoption for payments and its strong community support, particularly linked to Elon Musk. Meanwhile, iDEGEN, an emerging AI meme coin, has seen a staggering 90,000% price rally in its presale, capitalizing on the crypto-friendly environment fostered by President Trump. Ripple's price remains robust despite recent pullbacks, with a year-to-date gain of around 380%, as favorable regulatory changes loom.
BlackRock's ETF Department head, Jay Jacobs, has confirmed that the firm has no plans to launch an XRP ETF, countering recent speculation. Despite this, interest in XRP ETFs is growing among other asset managers, with several applications submitted to the SEC. Analysts believe that approval could significantly boost Ripple's price, especially with the upcoming launch of the RLUSD stablecoin and a pro-crypto SEC chairman potentially influencing decisions in 2025.
VanEck forecasts a significant crypto bull market peaking in early 2025, with Bitcoin potentially reaching $180,000 and Ethereum surpassing $6,000. The report highlights the transformative role of stablecoins and tokenized securities in global finance, alongside the emergence of AI agents and advancements in DeFi and NFTs. Additionally, U.S. crypto policies are expected to shift under new leadership, promoting Bitcoin as a strategic asset and paving the way for federal or state-level Bitcoin reserves.
Paul Atkins, President-elect Donald Trump's nominee for the SEC, faces ethical scrutiny over $3 million in consulting fees from clients he may soon regulate. His firm, Patomak Global Partners, has received significant payments from banks, fintech firms, and cryptocurrency exchanges, raising concerns about potential conflicts of interest. While Atkins is supported by trade groups for his regulatory experience, he is reportedly hesitant to take on the SEC role due to the agency's perceived inefficiencies under Gary Gensler's leadership.
VanEck forecasts Bitcoin will reach $180,000, Ethereum $6,000, and Solana $500 by Q4 2025, following a steep correction after an initial surge. The firm anticipates the establishment of a US Bitcoin reserve and increased approval of crypto ETPs by the SEC under new leadership. Additionally, asset tokenization and stablecoin usage are expected to thrive, with daily settlement volumes surpassing $300 billion.
David Sacks has been appointed as the first Crypto and AI Czar, tasked with establishing a clear legal framework for the cryptocurrency industry in the U.S. His advocacy for regulatory clarity aligns with Paul Atkins' nomination as SEC Chairman, signaling a potential shift towards a more favorable environment for digital assets. Both leaders bring extensive experience and a commitment to innovation, aiming to enhance the regulatory landscape for emerging technologies.
Sheila Warren has stepped down as CEO of the Crypto Council for Innovation, transitioning to the role of Senior Global Policy Officer. Ji Kim will serve as acting CEO. Warren expressed optimism for a strong regulatory framework for cryptocurrency, especially with the upcoming Trump administration, which could enhance global crypto adoption. Meanwhile, SEC Chair Gary Gensler is set to depart in January 2025, with Trump nominating pro-crypto Paul Atkins as his replacement.
Bitcoin surged past $100K, driven by retail investor enthusiasm and strategic pro-crypto appointments in the Trump administration, including Scott Bessent as Treasury Secretary and Paul Atkins as SEC chair. Ethereum also saw significant ETF inflows, outperforming Bitcoin during market fluctuations, while bluechip NFTs and Ethereum Layer 2 solutions thrived. The return of retail investors, particularly older demographics, signals a shift in market dynamics as interest in both Bitcoin and altcoins grows.
Ethereum's price is currently around $3,900, facing a critical resistance near the $4,000 mark amid significant inflows into Ethereum ETFs, which recorded $273.7 million in net inflows recently. With a change in SEC leadership, expectations rise for potential staking within these ETFs, which could further boost ETH's value. A sustained move above the upper boundary of a symmetry triangle pattern is essential for ETH to break through the $4,000 barrier and aim for its all-time high of $4,868.
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