Today (November 23, 2024), the cryptocurrency market continues to be vibrant Bitcoin (BTC) close to the historical milestone 100,000 USDreaching trading levels around 99,200 USD. According to data from CoinGeckoBTC capitalization currently reached 1.96 trillion USDwith close intraday trading volume 100 billion USD.
An interesting phenomenon in the market is the strong recovery of “ancient coins” such as XLM (up 32%), ADA (up 21%), ATOM (up 16%)and ICP (up 12%)leading the group of top gainers on Binance.
Outstanding events on November 23
1. Bitcoin (BTC)
- SEC changes personnel: SEC Chairman Gary Gensler announced that he would resign on January 20, 2025coinciding with the new President Donald Trump took office. This news was positive for Bitcoin and the cryptocurrency market in general, due to the crypto-friendly stance of the potential successor – Chris Giancarlo.
- New derivative products: Derivative floor CBOE will launch options products related to the Spot BTC ETF, expected to start trading from today December 2, 2024.
2. FTX and big refunds
- Trading platform FTX Prepare for refund 6.6 billion USD to creditors and customers from March 2025, after the restructuring plan is approved by the court. This is an important move to help resolve the consequences of FTX’s historic collapse in 2022.
Outstanding information about Altcoin
1. Ethereum (ETH)
- Wallet MetaMask feature launch Gas Stationallowing users to perform token swaps without using ETH to pay gas fees. Gas fees will be integrated directly into the swap rate, increasing convenience.
2. Ripple (XRP) and Stellar (XLM)
- XRP increase close 30% level up 1.5 USDthe highest level in Last 3 yearsthanks to the expectation of easing regulatory pressure as the SEC chairman prepares to resign.
- XLM (Stellar Lumen) increased 32%reflecting the general excitement of the market.
3. Solana (SOL)
- Price SOL reached new heights at 265 USDbreaking the old ATH set in 2021. The growth momentum comes from the expectation that the SEC will soon approve Spot SOL ETF funds and active Meme coin trading activities on the Solana network.
4. Binance (BNB)
- Binance Strengthen compliance team with 645 employeesincrease 34% compared to last year. This move was made after the fine 4.3 billion USD and the departure of the CEO CZ (Chapeang Zhao) at the end of 2023.
5. Sui (SUI)
- Sui Foundation announced strategic cooperation with Franklin Templeton Digital Assetsa leading asset management company. Franklin Templeton is actively building asset tokenization funds across multiple blockchains.
6. Tether (USDT)
- More 1 billion USDT Just minted on Tether Treasury on the evening of November 22. Tether CEO said this amount was minted on Ethereum but has not yet been released to the market.
Legal forecast and the future of cryptocurrency
- United Kingdom is preparing to announce a complete legal framework for cryptocurrencies and Stablecoins in early 2025, promising to create a stable legal environment and promote the development of the industry.
Conclude
November 23, 2024 marks an important milestone for Bitcoin and the cryptocurrency market as BTC approaches historic thresholds 100,000 USDat the same time many prominent Altcoins recorded strong growth. Personnel changes at the SEC and cryptocurrency support policies from the new administration in the United States are bringing great confidence to investors.
In a vibrant market context, new financial products such as Spot BTC ETF options, MetaMask’s Gas Station feature, and blockchain ecosystem expansions such as Solana and Sui increase opportunities and appeal. of cryptocurrencies in the eyes of global investors.