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Peter Davis

An writer at FOMOdrive

  • Feb 07, 2024
  • 4 min read

Bitcoin will reach $70,000 by the end of 2024 - 10x Research

Bitcoin is taking the place of gold as a valuable asset for storing wealth.

The Solana blockchain experienced its first failure in a considerable amount of time.

The initial cryptocurrency bank in the United States has officially departed from the cryptocurrency industry.

Ripple was instructed by the court to reveal details regarding the transactions of XRP tokens.

Binance has declared that it will no longer support the anonymous digital currency Monero and will be removing it from its platform.

According to Cathie Wood, CEO of ARK Invest, Bitcoin is becoming the preferred asset for preserving capital during times of economic uncertainty, surpassing gold. This trend is expected to continue due to the introduction of ETFs, which provide a convenient and effortless means of obtaining one's initial cryptocurrency.

According to 10x Research, there is a chance that Bitcoin could reach $70,000 by the conclusion of this year. This surge in BTC value will be influenced by factors such as the overall economic climate, monetary strategies, the US election cycle, and the involvement of traditional financial institutions in purchasing spot Bitcoin ETFs.

Based on a Bitget study, the majority (84%) of those surveyed believe that the halving and growing demand will lead to Bitcoin reaching a record high. Additionally, approximately 70% of the participants expressed their plans to boost their investments in cryptocurrency.

CoinGecko reports that Europe and Canada make up nearly 98% of the $5.7 billion market for Ethereum-ETFs. However, the introduction of ETH spot funds in the United States has the potential to significantly alter this landscape.

A court in the United States has mandated Ripple to reveal details about the sale of XRP tokens to individual investors during the years 2022-2023. During the World Economic Forum in Davos, Ripple's CEO Brad Garlinghouse denounced the SEC, accusing it of being unfriendly towards the cryptocurrency sector.

The American Vast Bank, the first US bank to receive a certificate from the Federal Deposit Insurance Corporation (FDIC) for dealing with cryptocurrency, has declared that it will no longer handle digital assets. The bank cites pressure from the US Office of Currency Control (OCC) as the reason for this decision.

A court in Canada has prohibited mining activities in British Columbia as a result of miners' high energy usage.

The SFC in Hong Kong has mandated that cryptocurrency platforms operating within the country must obtain a license by February 29 or cease operations by May 31, 2024.

The Solana blockchain encountered a malfunction on February 6, causing the network to halt block processing. Laine, a software developer and validator for Solana, explained that the issue was caused by a decline in the main network's performance.

In just under three weeks since the initial announcement, over 60,000 applications were received from users eager to pre-order the highly anticipated Web3 smartphone, Saga Chapter 2, from Solana Mobile. The developers have dubbed Chapter 2 as the successor to the first Saga version, which was unveiled in June 2022. The expected release date is set for 2025.

After the Ronin (RON) token was added to the exchange, Binance initiated a search for an internal member of the team. In light of the scandal, Binance plans to thoroughly examine the process of listing, potentially revoking it if any confidential information is revealed. Additionally, they aim to strengthen oversight of the team in charge of introducing new coins.

The digital currency Monero (XMR), known for its anonymity, experienced a 15% decrease in value following news of its removal from Binance. The developers of Monero have made it clear that they will not compromise on privacy concerns and have suggested using alternative platforms for trading XMR.

A new online service has emerged, providing the option to buy AI-generated documents for KYC verification at a cost of $15.

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