From Bitcoin to Altcoins: Here are the top crypto highlights of the day you can’t afford to miss!

Cryptocurrencies have been a hot topic in the financial world for years, and the market is constantly evolving. From Bitcoin to Altcoins, there are many different cryptocurrencies to choose from, each with its unique features and benefits. Here are some of the top highlights from the cryptocurrency news market today:

Highlights:

• Crypto markets face losses; Bitcoin and Ether dip amid heightened volatility.
• India’s WazirX witnesses a 90% drop in trading volume due to regulatory delays.
• Global crypto landscape evolves: 42 countries engage in or pass crypto regulations in 2023.
• Kraken’s 2024 Outlook: The crypto community awaits Kraken’s insights on whether the current surge will persist in 2024.

Crypto markets face losses; Bitcoin and Ether dip amid heightened volatility

Cryptocurrencies that were in profit 24 hours ago are now incurring losses, painting the price chart in red. Bitcoin experienced a 0.66 percent reduction on December 20, trading at US$42,064 (roughly Rs. 34.9 lakh). Despite minimal changes in Bitcoin’s value over the last day, indicators suggest a prevailing state of ‘extreme greed’ in the crypto market.

On the flip side, Ethereum (ETH) appears weaker than Bitcoin, following a downtrend sideways channel, as observed by CoinDCX’s research team. Amid market volatility, various cryptocurrencies, including Ripple, Solana, Cardano, Avalanche, Dogecoin, Polkadot, Polygon, Chainlink, and Shiba Inu, are all grappling with losses.

India’s WazirX Sees Sharp Drop in Crypto Trading Volume

WazirX has disclosed a significant downturn in its business trajectory, shedding light on the crypto market’s current slump amid pending regulatory deployments in India. In 2023, the Indian crypto trading platform witnessed a substantial 90% decline in trading volume, generating approximately $1 billion, in stark contrast to the previous year’s US$10 billion and 2021’s US$43 billion.

While the reasons behind this year’s slump remain undisclosed, WazirX’s competitor, CoinDCX, attributed a 12% reduction in its workforce to India’s tax regime, signaling the challenges faced by the industry. Despite the overall decline, WazirX shared insights into 2023’s trading patterns, revealing Bitcoin, Shiba Inu, Ripple, Ethereum, and Polygon as the most traded cryptocurrencies within the Indian crypto community on its platform.

Crypto Regulations Across 42 Nations in 2023

PriceWaterhouseCoopers’ recent report unveils that in 2023, over 40 countries actively propelled crypto-focused regulations and legislation. This global initiative hints at an imminent surge in cryptocurrency adoption. The report details diverse efforts, encompassing discussions and law enactments. PwC categorizes these endeavors into stablecoin regulation, travel rule compliance, licensing and listing guidance, and crypto framework development. International collaboration emphasizes the growing significance of establishing a regulatory framework to navigate the evolving landscape of cryptocurrencies.

Kraken’s Crystal Ball: Predicting the Crypto Surge in 2024

As 2023 draws to a close, the cryptocurrency community eagerly looks ahead, questioning the trajectory of the market in 2024. Kraken, a prominent player in the crypto exchange sphere, stands at the forefront of this anticipation. With 2023 witnessing significant market fluctuations, the pivotal question emerges: Will crypto sustain its surge in the coming year? Kraken’s insights are eagerly awaited as experts and enthusiasts alike seek a compass for navigating the unpredictable crypto landscape. As regulatory landscapes evolve, technological advancements unfold, and market dynamics shift, Kraken’s perspective will likely provide valuable guidance, shaping expectations and strategies for the crypto community in 2024.

The cryptocurrency market is constantly evolving, and there are many different cryptocurrencies to choose from. Whether you are looking to invest in cryptocurrencies or simply learn more about the market, there are many different resources available to help you get started. From Bitcoin to Altcoins, each cryptocurrency has its unique features and benefits. Keep an eye on market trends, and understand the risks before investing in cryptocurrencies. With the right knowledge and resources, you can make informed investment decisions and take advantage of the many opportunities that the cryptocurrency market has to offer.