Bitcoin Hits Record High as Trump Eyes It for US Reserve Asset

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16.12.2024 107 times read 0 Comments

Bitcoin Surges to New Heights Amid Market Dynamics

The cryptocurrency world is abuzz as Bitcoin has soared past the $105,000 mark, setting a new record high. According to FX Empire, this surge in value comes amid speculation that US President-elect Donald Trump might consider making Bitcoin a strategic reserve asset for the United States. This potential move could significantly alter the supply-demand balance of Bitcoin by mitigating oversupply risks and enhancing its market position.

Decrypt also reports on this upward trend, highlighting how Trump's influence continues to drive assets higher. The broader crypto market has seen substantial gains following his presidential victory, with rumors suggesting possible policy changes favorable to digital currencies.

XRP Faces Regulatory Challenges While Eyeing Price Milestones

XRP investors are closely watching developments within the SEC as Chair Gensler's departure looms near. As reported by FX Empire, optimism surrounds the possibility of an appeal withdrawal in Ripple’s case against the SEC, which could propel XRP towards its all-time high price target of $3.55 if realized. However, should an appeal proceed before January 15th—just days ahead of Gensler's exit—the token may face downward pressure toward $1.

Société Générale Completes Tokenized Bond Transaction on Ethereum Blockchain

A significant milestone was achieved when Société Générale successfully executed a collateralized transaction using tokenized bonds on Ethereum's blockchain network through their subsidiary FORGE. As detailed by The Daily Hodl, these transactions involved central bank digital currency issued by Banque de France and marked one of Europe's first repo agreements conducted via blockchain technology—a promising step forward for integrating traditional finance systems with decentralized platforms.

Evolving DeFi Landscape: Polygon and VeChain Make Waves

The decentralized finance (DeFi) sector sees emerging players like Polygon and VeChain reshaping industry dynamics while Ethereum struggles below key resistance levels at around $4k per coin according to insights from The Merkle News. With initiatives such as Polygon's billion-dollar proposal aimed at bolstering ecosystem growth alongside VeChain’s impactful partnerships across various sectors including healthcare applications powered through the MyBaby IVF app driven jointly between Renji Hospital China & VET platform itself—both projects demonstrate innovative approaches poised to potentially revolutionize future investment opportunities within the rapidly evolving space!

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