Cryptocurrency

2024 Year in Review: Key Developments in Five Sectors HTX Ventures has released its 2024 annual report, providing an in-depth analysis of the key developments in five sectors: the Bitcoin ecosystem, blockchain infrastructure, memecoins, artificial intelligence, and The Open Network (TON) ecosystem. This article will delve into the report's findings, highlighting the major trends and innovations that shaped these sectors over the past 12 months. Bitcoin as an Epicenter of Innovation Bitcoin has been the focal point of discussion throughout 2024, with significant events contributing to its rise in prominence. The year began with the approval of Bitcoin ETFs, allowing institutional investors to gain exposure to the cryptocurrency. In contrast, the year ended with Bitcoin breaking the psycholo...

Digital Collectibles Surpass 2023 Sales by Over $100 Million As the year comes to a close, non-fungible tokens (NFTs) have ended 2024 on a high note, with digital collectibles surpassing their 2023 sales by more than $100 million. According to NFT data tracker CryptoSlam, blockchain-based digital collectibles had a sales volume of $8.83 billion in 2024. This marked a significant increase from the previous year's sales, which stood at around $8.7 billion. Year-on-Year Increase The surge in NFT sales in 2024 was a welcome surprise, considering that the space had suffered a seven-month downturn earlier this year. However, with the momentum gaining pace towards the end of 2024, digital collectibles showed signs of life. In October, the space saw $353 million in sales, an 18% increase from Sept...

The Internal Revenue Service (IRS) has announced a temporary reprieve for crypto investors regarding new reporting rules that would have mandated a default accounting method for crypto transactions on centralized exchanges. This change, initially set to take effect in 2024, would have forced investors to use the FIFO (First In, First Out) method to calculate capital gains unless they opted for a different accounting method. What is the FIFO Method? The FIFO method considers the oldest assets as sold first when calculating capital gains. This means that if an investor has multiple purchases of the same cryptocurrency, the oldest purchase will be considered sold first, regardless of its cost basis. The use of FIFO can significantly increase capital gains for taxpayers, especially in situatio...

The Rise of Stablecoins: A Game-Changer for the Global Financial System Stablecoins Becoming a Crucial Component of the Global Financial System A recent report by Bernstein has highlighted the increasing importance of stablecoins in the global financial system. According to the report, stablecoins have become the 18th-largest holders of U.S. government debt, with their circulation reaching an all-time high of $170 billion. What are Stablecoins? Stablecoins are a type of cryptocurrency designed to maintain a steady value and are usually pegged to the U.S. dollar, although some other currencies and assets such as gold are also used. This allows users to store value in a digital format while minimizing the risks associated with price volatility. The Growing Popularity of Stablecoins After exp...

In a year marked by significant growth in the cryptocurrency market, BlackRock's spot Bitcoin exchange-traded fund (ETF) has emerged as a clear leader, attracting over $37 billion in net inflows during 2024. According to data from Farside Investors, this impressive figure surpasses that of its closest competitor, Fidelity Wise Origin Bitcoin Fund. BlackRock's Dominance in the ETF Market As the world's largest asset manager, BlackRock has consistently demonstrated its ability to innovate and adapt to changing market trends. The company's iShares Bitcoin Trust (IBIT) has been at the forefront of this growth, pulling in an astonishing $37.1 billion in net inflows during 2024. In comparison, Fidelity Wise Origin Bitcoin Fund (FBTC) attracted nearly $12 billion in net inflows, a respectable fig...

The stage is set for the Federal Reserve to begin cutting rates at its upcoming mid-September meeting as inflation in July came in mostly as forecast. Consumer Price Index (CPI) Rises 0.2% in July According to a U.S. government report released on Wednesday morning, the Consumer Price Index (CPI) rose by 0.2% in July. This marks an increase from the decline of 0.1% recorded in June and aligns with expectations for a 0.2% rise. Year-over-Year Inflation Remains Elevated On a year-over-year basis, the CPI was higher by 2.9% compared to 3% expected and the 3% recorded in June. This indicates that inflationary pressures remain elevated, despite the modest increase in July. Core CPI: A More Stable Metric The core CPI, which strips out food and energy costs, was also higher by 0.2% in July, matchi...

Against the backdrop of a rapidly evolving digital asset industry, DLB Coin exchange is taking proactive measures to embrace the decentralized spirit of Web3 while ensuring its operations comply with increasingly stringent global regulatory requirements. This balancing strategy exemplifies the key challenge facing the cryptocurrency industry: how to maintain the innovative essence of blockchain technology while adapting to traditional financial regulatory frameworks."Our goal is to create a platform that both satisfies blockchain-native users' demand for decentralization and provides traditional investors with peace of mind," DLB Coin stated at an industry summit last week. "This means finding the right balance between technological innovation and regulatory compliance."As Web3 philosophy ...

Bitcoin experienced violent turbulence after reaching an all-time high of $69,000 on Wednesday, with prices plummeting more than 10% in just 48 hours, briefly dipping below the $60,000 threshold and sparking widespread discussion about whether the cryptocurrency bull market has come to an end. As of press time, Bitcoin is trading around $62,500, down approximately 9.4% from its historic peak. This sudden market reversal caught investors off guard and has prompted a reassessment of the overall outlook for crypto assets."The rapid correction in Bitcoin following its record high is the result of multiple factors working together and should not be simply viewed as a signal of the end of the bull market," crypto asset research firm BlockInsight noted in its latest market analysis report. "This ...

As the Non-Fungible Token (NFT) market experiences explosive growth in 2021, major cryptocurrency exchange DLB Coin is actively positioning itself in this emerging field, planning to launch a series of NFT-related financial tools and trading services to capitalize on the immense opportunities in the digital collectibles economy.Recent data shows that global NFT trading volume has skyrocketed from approximately $100 million in January this year to around $3.1 billion in August, a nearly 30-fold increase. From digital artwork to virtual land, from in-game assets to music and sports collectibles, NFTs are reshaping the creator economy and the concept of digital ownership."The explosion of the NFT market is not just a bubble, but represents a breakthrough application of blockchain technology i...