Ah, 2024! A year that shall be etched in the annals of digital assets, where Bitcoin, that capricious beast, finally decided to take a nap. Its annual volatility, once a tempestuous storm, has now reached a record low, while stablecoins have gallantly galloped past the likes of Visa and Mastercard. Who would have thought? 🤷♂️
These revelations come from the oracle of finance, ARK Invest, in their prophetic tome titled “Big Ideas 2025,” unveiled on the fourth day of February. The report reveals that Bitcoin’s (BTC) annualized one-year volatility has plummeted below 50% in 2024. A far cry from the wild rollercoaster of 80% in 2022 and the dizzying heights of over 100% in 2018. 🎢
Much of this newfound tranquility can be attributed to what ARK boldly claims is “the most successful ETF launch in history.” Yes, indeed! Eleven spot exchange-traded funds were given the green light in the US this January, and by year’s end, these ETFs had amassed a staggering $100 billion in net assets. Talk about a piggy bank! 🐷💰
Meanwhile, Bitcoin’s inflation rate has gracefully dipped to 0.9% following the quadrennial halving in April. For the first time ever, Bitcoin’s issuance rate has fallen below the long-term supply growth of gold. Who knew that shiny metal could feel so insecure? 😅
🔥 BULLISH: Ark Invest CEO Cathie Wood proclaims, “The more uncertainty and volatility there is in the global economies, the more our confidence increases in #Bitcoin.”
— CryptoMoon (@CryptoMoon) January 5, 2025
Stablecoins: The Unsung Heroes of Crypto
But wait, there’s more! Stablecoins have firmly established themselves as the unsung heroes of the blockchain realm in 2024, with an annualized transaction value soaring to a jaw-dropping $15.6 trillion. That’s about 119% and 200% of Visa’s and Mastercard’s transaction values, respectively. Who needs a credit card when you have stablecoins? 💳❌
“The number of transactions hit 110 million monthly, which is a mere 0.41% and 0.72% of those processed by Visa and Mastercard,” the report states. However, the stablecoin value per transaction is much heftier than that of its plastic counterparts. Who knew digital coins could pack such a punch? 💥
On the regulatory front, stablecoins have become the darling of pro-crypto Republicans in Congress. Before the November presidential election, Senator Bill Hagerty introduced the Clarity for Payment Stablecoins Act of 2024, building upon a previous proposal by former House member Patrick McHenry. Because who doesn’t love a good regulatory framework? 📜
Earlier in the year, Democratic Senator Kirsten Gillibrand and her Republican counterpart Cynthia Lummis joined forces to introduce a bipartisan bill aimed at establishing a regulatory framework for stablecoins. A true display of political unity! Or perhaps just a shared love for digital currency? 🤝
After the Republicans swept both houses of Congress in November, “passing comprehensive market structure and stablecoin legislation” became the first order of business. According to Republican Representative Tom Emmer, this is a crucial step toward solidifying clear crypto guidelines. Because clarity is what we all crave in this chaotic world! 🌍
Miller Whitehouse-Levine, the head honcho of the DeFi Education Fund advocacy group, told Bloomberg that stablecoin regulation has reached a “broad consensus” in Congress. Who knew that consensus could be so elusive? 🤔
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2025-02-04 23:54