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2024 marked a momentous year for digital assets, with significant advances ranging from institutional adoption to technological innovations.
In its annual report, HTX Ventures, the global investment arm of HTX, identified five sectors with exceptional growth: the Bitcoin ecosystem, crypto infrastructure, meme coins, artificial intelligence (AI), and the TON ecosystem. Furthermore, it projects that the possible Donald Trump administration in 2025 could further strengthen these sectors through a favorable regulatory environment.
HTX Ventures highlighted Bitcoin’s notable performance in 2024, with the introduction of spot ETFs accounting for 5.3% of the total BTC supply. The role of companies like MicroStrategy (MSTR) in driving institutional adoption was also highlighted, cementing Bitcoin as a key asset for dollar-denominated liquidity.
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Looking ahead, Donald Trump is expected to repeal the SAB 121 rule after taking office in January 2025. This change would allow traditional financial institutions to include cryptocurrencies on their balance sheets, boosting institutional demand for Bitcoin and positioning it as a a central asset in dollar-driven economic cycles, along with AI.
FCA tightens rules to strengthen UK Cryptocurrency market
The United Kingdom’s Financial Conduct Authority (FCA) has published a new discussion paper aimed at strengthening cryptoasset market regulations, with the aim of combating abuses and improving transparency. This effort seeks to establish a clearer and more reliable framework for businesses and consumers, according to Monday’s announcement.
The regulator requires authorized cryptocurrency platforms to implement strong internal measures to prevent market abuse and encourage the exchange of information to detect fraudulent activities.
In a statement, the FCA underlined the importance of establishing clear admission, disclosure and abuse prevention regimes to strengthen market integrity. “These mechanisms are crucial to improving the cleanliness of our cryptocurrency markets and helping people make informed financial decisions,” the institution stated.
Among cryptocurrency holders, the proportion of people investing more significant amounts has also grown, evidencing growing interest in the sector.
Avalanche releases its biggest update: Avalanche9000 revolutionizes the creation of custom blockchains
Avalanche, the popular Layer 1 blockchain designed for decentralized applications, has taken a momentous step with the implementation of its largest update to date: Avalanche9000.
Announced on Monday, this improvement introduces innovative tools that promise to dramatically make it cheaper to create custom blockchains and optimize the operation of subnet chains.
Why L1s?
Different applications have different needs:
Games needs speed ✅
Institutions need customization and control ✅
DeFi needs lower fees and interoperability ✅
Only by launching your own Avalanche L1 can you have specialized infrastructure without the tradeoffs 🤝 pic.twitter.com/hBRhhZBA19
— Avalanche9000 🔺 (@avax) December 16, 2024
According to the Avalanche team, the Avalanche9000 upgrade reduces the cost of launching a Layer 1 blockchain by 99.9%, ushering in what they call “hundreds of L1 launches.” This technical revolution seeks to democratize the creation of independent blockchain networks and foster massive growth in the coming months.
XRP rise on exchanges anticipates downward pressure after the launch of the RLUSD stablecoin
The cryptocurrency market is seeing significant movement around XRP, Ripple’s token, with a notable increase in inflows of the asset to exchanges. This phenomenon coincides with the global launch of RLUSD, Ripple’s new US dollar-backed stablecoin, which could herald a short-term drop in the price of XRP due to increasing sales activity.
The RLUSD has generated expectations in the market after its recent approval by the New York Department of Financial Services (NYDFS). The coin will begin trading globally this Tuesday on platforms such as Uphold, MoonPay, Archax and CoinMENA. In addition, other major exchanges such as Bitso, Bitstamp and Mercado Bitcoin could include it soon.
However, the enthusiasm for this stablecoin has motivated some XRP investors to capitalize on the token’s recent gains. According to data from Coinglass, XRP inflows to exchanges exceeded $28 million in the last 24 hours, suggesting possible selling pressure.
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