From the assessment that Bitcoin still has the potential to reach the $200,000 mark by 2025 to the Brazilian Senate scheduling a meeting to discuss cryptocurrencies, here are some notable news in the crypto market.
Macro investor and fund manager Dan Tapiero said that Bitcoin (BTC) has the potential to reach the $200,000 mark by 2025.
In a recent post, Tapiero told his 123,500 followers on the X platform that once the US government tightens fiscal policy, the top cryptocurrency by market capitalization will surge.
According to Tapiero, the US Federal Reserve (Fed) is too focused on inflation and interest rates in the US are still too high.
"Danger is looming in China. The world's second-largest economy is falling into DEFLATION. The Fed is mistaken about inflation. Interest rates are still too high in the US and fiscal policy will tighten now, the USD will strengthen. Liquidity is about to propel Bitcoin. $200,000 will still be a viable target next year."
Tapiero, the founder of venture capital firm 10T Holdings, said the total market capitalization of digital assets will reach the $10 trillion threshold at some point in this cycle.
In a recent post, Robert Kiyosaki predicted that the top asset could reach even higher highs by 2025 and its design also allows latecomers to profit.
"The wonderful thing about Bitcoin's design is that it's never too late to start, no matter how high the price goes. Bitcoin is designed to make everyone rich, even latecomers. Just don't be greedy... Bitcoin is on its way to $350,000 by 2025."
Blockchain monitoring platform Whale Alert has detected several large crypto transactions involving nearly 190 million XRP. Two-thirds of this amount was transferred between anonymous wallets.
Whale Alert detected three large transactions transferring nearly 183 million XRP. The largest transaction sent 99,999,977 XRP worth $222,109,105 and the other two transactions included 52,765,919 XRP (worth $118,291,144) and 30,000,000 XRP (worth $70,897,571). In total, the three transactions carried around $411.1 million.
The smallest transaction was executed from the Uphold exchange to an anonymous wallet. The two remaining XRP blocks were transferred between unidentified blockchain addresses.
Data from the XRP-focused analytics tool Bithomp shows that the transaction transferring 99.9 million XRP was executed from a wallet associated with the Ripple blockchain giant to an address also related to Ripple.
The crypto market saw a sharp decline on Friday, due to a combination of macroeconomic factors and investor sentiment. The sell-off led to $1.42 billion in liquidations across various assets.
The market soon regained its growth momentum, with some cryptocurrencies showing signs of recovery by the weekend. Cardano also followed suit, with the ADA price surging 15% and briefly touching the $1 mark.
The Fed's preferred inflation gauge came in lower than expected on Friday, which seemed to have somewhat alleviated the market's disappointment with the Fed's rate announcement on Wednesday.
The Personal Consumption Expenditures (PCE) price index, the Fed's preferred inflation measure, rose 0.1% in October and the annual rate was 2.4%, both lower than expected.
Yesterday marked an important milestone for Hyperliquid as its contract trading volume surged to $11.5 billion, accompanied by a liquidation volume of $1.32 billion, both setting new ATHs.
After the market downturn, Hyperliquid's token - HYPE, has rebounded quickly, rising above $33 and setting a new ATH at $35.02. Currently, the Support Fund holds around 11.234 million HYPE tokens, worth approximately $356 million.
These achievements highlight the growing interest and activity in the Hyperliquid ecosystem, reinforcing the project's position in the market.
Nate Geraci, president of The ETF Store, announced that the S-1 amendment for the Nexo 7RCC spot Bitcoin and Carbon credit futures ETF has been officially filed.
This innovative ETF, allocating 80% to Bitcoin and 20% to carbon credit futures, represents a unique "environmental, social and governance" (ESG) approach to crypto investing.
The launch of this product is expected to occur in the near future, providing a sustainable alternative to traditional Bitcoin ETFs.
MANTRA, a Layer1 Blockchain focused on RWA assets, has announced on the X platform a proposal to update the OM tokenomics.
The voting process for this proposal on Snapshot is currently underway, and the on-chain voting will be conducted next week.
While the proposal involves adjustments to the token release schedule, the allocation to individuals from various activities will remain unchanged.
The details of the proposal include:
Hailey Welch, known in the industry as the "Hawk Tuah girl", has spoken out to explain the issue to her fans after her reputation was tarnished in relation to a memecoin investment incident.
This message comes after a $490 million lawsuit was filed against the creators of the HAWK memecoin. Welch said she is focused on "whitewashing" her name and rebuilding her career.
The controversy stemmed from the disastrous collapse of the memecoin, leading to a lawsuit accusing the project of improperly registering assets. At the time, Welch was involved with the token, conducting a series of promotional campaigns for HAWK.
However, the lawsuit does not include Hawk Tuah girl as one of the defendants, but only includes OverHere Ltd, founder Clinton So, Tuah The Moon Foundation, and influencer Alex Larson Schultz.
Two men living in Southern California, Gabriel Hay and Gavin Mayo, are facing allegations of defrauding investors of over $22 million in crypto through fraudulent NFT and digital asset programs.
The indictment reveals that they carried out a series of "rug pulls", soliciting funds for NFT projects after securing investments. The fraud cases involved projects like Vault of Gems, Faceless, and Clout Coin.
The prosecutors stated that Hay and Mayo defrauded investors through false claims and a fraudulent project plan. When exposed by a project manager, they proceeded to harass him and his family.
If convicted, both face up to 20 years in prison for fraud and money laundering conspiracy, plus 5 years for unlawful surveillance of others.
Tokenization and DeFi will be the main themes in 2025 amid crypto-friendly policies
Coinbase's latest market outlook for 2025 identifies tokenization, the rise of DeFi, and the shift towards crypto-friendly regulations in the US as the key trends for the coming year.
Coinbase predicts that 2025 will be a pivotal year for crypto regulations in the US after years of ambiguity. The exchange says these developments could redefine how crypto integrates with traditional financial systems and regulations in the year ahead.
According to the exchange, a bipartisan majority in Congress supports crypto, signaling favorable changes, transforming the regulatory framework from an obstacle to a catalyst for industry growth. Furthermore, the push to establish a strategic Bitcoin reserve fund further reinforces lawmakers' positive stance.
The tokenization of real-world assets (RWA) has gained strong traction in 2024, with the market growing over 60% to reach $13.5 billion by December. Forecasts estimate this sector could expand from $2 trillion to $30 trillion over the next 5 years.
After a challenging cycle marked by unsustainable activities, decentralized finance (DeFi) is now transitioning to a more mature and transparent phase. Coinbase emphasizes that the increasing interaction between the off-chain and on-chain capital markets is the primary driver fueling DeFi's resurgence.
The Brazilian Senate has scheduled a meeting to discuss the future and potential of the crypto market in 2025
The meeting will debate the opportunities and challenges that the adoption of cryptocurrencies brings to Brazil.
A multipartisan group has requested a Senate session in Brazil to discuss the state of the crypto market in the country. The meeting, titled "Crypto Market: The Future of Finance and the Digital Economy", aims to examine the advantages and challenges that the adoption of cryptocurrencies will bring to Brazil.
The increasing adoption is part of the reason for the hearing. 13 deputies requested the meeting, to be chaired by Senator Jorge Seif, arguing that digital assets will rise and be used by the majority of the population by 2030.
You can view coin prices here.
Disclaimer: This article is for informational purposes only and not investment advice. Investors should do their own research before making decisions. We are not responsible for your investment decisions.
Join Telegram: https://t.me/tapchibitcoinvn
Twitter (X): https://twitter.com/tapchibtc_io
Tiktok: https://www.tiktok.com/@tapchibitcoin
Viet Cuong
Bitcoin Magazine
