2024 challenge Crypto trading protocol

 2024 challenge Crypto trading protocol

Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Terra – European Wrap 27 December

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 2024 challenge Crypto

Bitcoin ETF, or Exchange Traded Fund, has been the main driver of crypto markets since June 2023. So, we answered the top BTC ETF questions to help you prepare for a historic decision. 

The latest update in the Bitcoin ETF approval is the shift in Grayscale Investment’s approach toward the settlements of ETFs. Grayscale was bent on keeping the ETF settlements “in-kind”, but after the US Securities and Exchange Commission’s (SEC) latest announcement, the investment company has agreed to amend their ETF filing to accommodate a “cash” settlement.

The team also assured affected users that their funds would be refunded and that they would be given 0% fees. The crypto market witnessed another hack before the year ended as trading platform Thunder confirmed an exploit on December 27. The DeFi protocol running on Ethereum, Solana, and other chains has been threatened by the exploiter of potentially deleting users’ private keys’ data, although the team denied the possibility, reassuring the safety of assets.

Crypto trading protocol Thunder took to X, formerly Twitter, to confirm a suspected exploit on December 27. The team addressed the suspicious withdrawals that began early in the morning and put a halt to the same in the next nine minutes.

The crypto space had a bullish year, considering the total market capitalization grew by 117% year to date. During this time, many cryptocurrencies had a stellar run, such as Solana, Render, Avalanche, even Bitcoin. However, with the year coming to an end, a rather specific category of tokens seems to be falling into the bear's claws before 2024 begins.

Luna Classic price might have witnessed volatility over the past year, noting ups and downs and periods of rallies and corrections, but today, the value of the asset is virtually unchanged in regards to what it was worth at the beginning of 2023.

After a brutal stretch, a remarkable thing is happening: Cryptocurrencies are surging

After a tumultuous period, cryptocurrencies are staging a big recovery.

Crypto had been rocked since the collapse of several major companies in 2022, including FTX, which had become one of its biggest and best recognized players.

Its failure deepened a so-called "crypto winter" that sent bitcoin to around $16,500, a sharp decline from its record high of around $68,000 on Nov. 8, 2021.

But something remarkable has happened since FTX CEO and founder Sam Bankman-Fried was convicted in November: bitcoin and other cryptocurrencies have staged an impressive comeback. Bitcoin, for example, has surged to above $43,000.

"There has been tumult," says Helen Gugel, a partner at the law firm Ropes & Gray. "But I think that there is also reason for optimism."

Here's a look at crypto's turbulent period — and why things appear to be looking better.

Weeding out the bad actors

It was a blockbuster trial — and it ended badly for Bankman-Fried.

He was convicted of all seven charges he was facing, marking a stunning fall from grace for someone who was once heralded as "crypto's golden boy." Bankman-Fried now faces the prospect of spending the rest of his life in prison.

Then, just weeks later, Attorney General Merrick Garland announced a major plea deal with another crypto giant as part of a continued crackdown of the sector by regulators and law enforcement.

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Former FTX CEO Sam Bankman-Fried arrives for a bail hearing at Manhattan Federal Court in New York City on Aug. 11, 2023. Two of the most prominent crypto players faced legal trouble this year. Bankman-Fried was convicted of all criminal charges and faces the prospect of a lifetime in prison. Meanwhile Binance CEO Changpeng Zhao pleaded guilty to violating anti-money laundering rules.

Under the settlement, Binance agreed to pay $4.3 billion in fines, while its founder, Changpeng Zhao, widely known as CZ, relinquished his CEO title and pleaded guilty to violating anti-money-laundering laws. He also agreed to pay a $50 million fine.

Bankman-Fried's conviction and regulators' pledge to continue to crack down on an industry they see as rife with fraud could have been seen as a negative spotlight on an entire industry.

Instead, many crypto advocates saw this moment as a good thing — a moment when confidence in crypto could return now that prominent bad actors had been weeded out

Cryptocurrencies surged soon after Bankman-Fried's conviction, and the survivors of the crypto winter also benefited: Shares of Coinbase, another major cryptocurrency exchange that is under regulatory scrutiny, are up more than 400% this year.

Turning bitcoin into a mainstream investment

There's another critical reason behind crypto's comeback.

This year, several prominent financial firms, including BlackRock and Fidelity, have asked the Securities and Exchange Commission to approve a spot bitcoin ETF.

Exchange-traded funds have surged in popularity with regular investors. They are funds that track the performance of a particular index or asset.

An S&P 500 ETF, for example, simply tracks the S&P 500's gains and losses. These funds are meant to lower commissions since investors don't generally pay fees to fund managers.

A spot bitcoin ETF would track the price of the cryptocurrency and allow investors to have it in their portfolios through an investment fund instead.