Crypto's Pivotal Year: FTX Trial, Bitcoin ETF Rollercoaster And More Stories From 2023
Portfolio Pulse from Khyathi Dalal
The global cryptocurrency market has grown significantly in 2023, with 42 countries advancing crypto regulations, including Europe's MiCA legislation. Goldman Sachs highlighted the increasing institutionalization of the crypto market, with CME leading in Bitcoin futures by open interest. The SEC was active in regulating the crypto industry, despite losing a case against Ripple over XRP. The crypto market looks forward to the 2024 Bitcoin halving event and potential SEC approval of spot Bitcoin ETFs. Bitcoin and Ethereum surged by 18% and 12%, respectively, while other cryptocurrencies like Avalanche, Cardano, and Polkadot also saw significant gains. DeFiLlama data shows a notable increase in the total value locked on various blockchain platforms.
December 22, 2023 | 1:25 pm
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Bitcoin has seen an 18% surge in the last month and is expected to gain further with the upcoming halving event in April 2024.
The article indicates a positive outlook for Bitcoin due to the halving event and increased institutional interest, which could drive the price up in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Ethereum experienced a 12% increase in the last month and continues to show growth with the expansion of the total value locked in its DeFi ecosystem.
Ethereum's growth is supported by the positive sentiment in the crypto market and the expansion of its DeFi platform, suggesting a potential price increase in the short term.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 80