Dollar Rises with Crypto as Markets Turn in Favour of a Trump Victory
The US dollar and crypto assets have seen a rise as market sentiment shifts towards a potential victory for Donald Trump in the upcoming presidential election. Analysts believe that a Trump administration could usher in a more favourable regulatory environment for crypto, contrasting with the current administration's stringent stance. This potential shift has boosted market confidence, driving both the dollar and crypto assets higher.
Europe Leads Global Crypto Trading Volume in 2024
A recent report projects that Europe's crypto trading volume will surpass $108 trillion in 2024, positioning it as the leader in global transactions. This surge is driven by a favourable regulatory environment and increasing institutional adoption. Europe's dominance in the market highlights its strategic advancements in fintech and crypto asset integration, making it a crucial player in the global crypto landscape.
Ethereum Price Soars Amid ETF Speculations
Ethereum's price surged past $3,300 this week, fuelled by speculation around imminent ETF approvals. Analysts are optimistic that these approvals will attract substantial institutional investments, further boosting Ethereum's market value. This anticipation has created a bullish sentiment among traders, who foresee significant growth potential for Ethereum in the coming months.
South Korea Delays Crypto Tax Implementation
In a significant policy shift, South Korea has postponed its crypto tax implementation until 2028. The decision aims to give the burgeoning crypto market more time to mature and for regulatory frameworks to stabilise. This delay is expected to encourage further investment and development within the country’s crypto ecosystem, fostering innovation and growth in the sector.
Goldman Sachs Ventures into Tokenization with Bitcoin ETFs
Goldman Sachs has announced the launch of a new initiative focused on the tokenization of Bitcoin ETFs. This move represents a major step by a traditional financial institution into the crypto space, aiming to bridge the gap between conventional finance and digital assets. The initiative is expected to bring more mainstream credibility and investment into the crypto market, enhancing its overall growth and adoption.
That’s all for this edition of our crypto newsletter. Stay tuned for more exciting news and updates from the world of blockchain and crypto!
Disclaimer: Crypto-asset or VDA investments are subject to market risks such as volatility and have no guaranteed returns. Please do your own research before investing and seek independent legal/financial advice if you are unsure about the investments.
