Year: 2024

Binance Records $2.6B in User Deposits in 2024

Vortex Cryptonews

Binance recorded $21.6 billion in user deposits in 2024, solidifying its market leadership. Binance also became the first crypto exchange to surpass $100 trillion in lifetime trading volume. Despite legal challenges, Binance maintained user trust, with most funds staying on its platform. , the world’s largest cryptocurrency exchange by market capitalization, continues to dominate the global crypto space with unmatched growth. In 2024, the company recorded an impressive $21.6 billion in user deposits, a testament to its strong foothold in the industry and the trust it commands among millions of…

CoinGlass Data: $534 Million Wiped Off Crypto Market in Heavy Liquidations Over 24 Hours

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CoinGlass data shows that over $534 million in crypto was liquidated. Of these, XRP, BTC, and ETH were the largest assets affected, with $187.81 in total. Although the market has seen considerable increases since Trump won, there are fears that the US government is planning to sell of its BTC trove. Data from crypto derivatives analysis platform CoinGlass show that the total number of crypto liquidations in the market jumped by a heavy 43% to $534 million in the past 24 hours. This comprised short positions worth $181 million and…

Bitcoin (BTC) Price Faces Midterm Correction Below $100K amid High Demand from Institutional Investors

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Bitcoin price is expected to continue rallying in the remaining few days of 2024 fueled by heightened demand. The overall supply of Bitcoin on CEXes has dropped by over 190K in the past two months due to Trump-induced confidence. After hitting a new all-time high of above $108K earlier in the past 24 hours, Bitcoin price has experienced lower bullish momentum. The flagship coin dropped around 3.4 percent in the past 24 hours to trade about $103,741 on Wednesday, December 18, during the mid-London session. Following the heightened Bitcoin’s volatility,…

Breaking: Trump Names David Sacks as Artificial Intelligence and Cryptocurrency ‘Czar’

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David Sacks, a member of the influential “PayPal Mafia” and founder of Yammer, brings 25 years of Silicon Valley experience to this newly created position overseeing AI and cryptocurrency policy. As AI and Cryptocurrency Czar, Sacks will chair the Presidential Council of Science and Technology Advisors and work to develop a clear regulatory framework for the cryptocurrency industry. The appointment aims to address both technological advancement and regulatory clarity, with a specific focus on safeguarding online free speech and moving away from what Trump describes as “Big Tech bias and…

Breaking: Donald Trump Nominates Paul Atkins as SEC Chair in Crypto-Friendly Shift

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Paul Atkins brings substantial regulatory experience as former SEC Commissioner (2002-2008) and current co-chair of Digital Chamber’s Token Alliance since 2017. The nomination indicates Trump’s commitment to fostering innovation in digital assets and maintaining US economic leadership. Atkins’ nomination suggests a potential shift from the SEC’s current strict regulatory stance under Gary Gensler toward a more balanced approach to cryptocurrency oversight. has nominated Paul Atkins as the next US Securities and Exchange Commission () Chairman through an on Truth Social, signaling a potential shift toward more flexible financial regulation. Atkins…

Bitcoin ETF Ads Attract Chinese Investors on Alipay Platform

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The ads directed users to Huabao Overseas Technology C, which has indirect exposure to Coinbase stock and the ARK 21Shares Bitcoin ETF. Users who saw the crypto ads on Alipay speculated that the next step could be the ability to buy Bitcoin directly through the platform. Demand for spot Bitcoin ETFs has been on the rise with a record-breaking debut year for the product. Users of China’s largest payment platform Alipay saw new advertisements featuring ads related to spot Bitcoin ETFs and digital assets. The advertisement appeared on Alipay homepages…

Bitcoin Volatility Surges Near $100K: Will December BTC Price Break $120K?

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Bitcoin slipped below $100k, trading at $99,404 with a 1.74% intraday pullback, dragging the total crypto market cap to $3.55 trillion. The market saw $288M liquidated in the past 24 hours with $217M in long liquidations. Bitcoin spot ETFs recorded a net inflow of $2.73 billion last week. Historical trends show that positive Novembers often lead to bullish Decembers, suggesting BTC could hit $120K by year-end. With the sudden increase in fluctuation in Bitcoin near the $100,000 milestone, the crypto market is witnessing a surge in volatility. Bitcoin price has…

Cambodia Blocks Major Crypto Websites amid Rising Cybercrime and Regulatory Challenges

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Cambodia has blocked 102 websites, citing licensing issues. Although the websites are restricted, their mobile apps continue to function within the country. Only two companies are licensed under Cambodia’s FinTech Regulatory Sandbox program, but strict limitations are applied to their operations as well. The Telecommunication Regulator of Cambodia (TRC) recently a directive to block 102 websites, including 16 crypto exchange platforms like Binance and Coinbase. The move was prompted by their lack of licensing from the Securities and Exchange Regulator of Cambodia (SERC). While the websites are now inaccessible within…

Algorand (ALGO) Aims to Retest Its 5-Year ATH amid Rising On-chain Activities

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The Algorand network intends to launch staking rewards before the end of this year with a minimum of 30K ALGO for solo stakers. ALGO price has rallied to a 31-month high, thus indicating the onset of its macro bull run. The total crypto market cap has surged to the highest level of about $3.71 trillion since inception majorly fueled by the altcoin industry. The TOTAL2 market cap, which excludes Ethereum , surged to a new all-time high earlier today of above $1.1 trillion. Consequently, more investors have rushed to undervalued…

Bitcoin Price Flashes Short-term Weakness as the US Government Transfers 20k BTC to Coinbase Prime

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The US Marshals Service previously selected Coinbase Prime as its partner to secure its digital assets. The fear of the Biden administration selling off the country’s Bitcoin holdings remains high until January 20. After an impressive performance in the first three weeks of November, Bitcoin price closed last week in a Doji Dragonfly candlestick, thus signaling a potential cooldown of the bullish momentum. The flagship coin failed to reach the much-hyped target of $100k, following a notable shift to the altcoin industry by whale and retail investors in the past…