The pre-Christmas madness is not only about sprinting in the kitchen and shops, because there is also a lot going on in the world of cryptocurrencies. Michael Saylor calls for pro-Bitcoin regulations to strengthen USD. In turn, Donald Trump has appointed another person who will have a significant impact on the cryptocurrency industry. What else happened on December 23 in the cryptocurrency world?
A few words about the situation of the most important cryptocurrencies
Since it’s Christmas, the color red is red, and not only on Santa’s hat. Today’s day in the cryptocurrency market is marked by moderate declines that affected most major digital assets. Bitcoin (BTC), the market leader and most popular cryptocurrency, sees a correction of 2.04%, which brought its price to $93,771.
Ethereum (ETH), the second largest cryptocurrency by market capitalization, also fell. Its price decreased by 0.81%, reaching USD 3,280.80. Investors may view these moves as a natural correction after recent gains, but the decline in ETH’s growth momentum may suggest the possibility of further consolidation in the coming days. XRP, currently trading at $2.14, saw a larger decline of 2.73%.
Dogecoin (DOGE) is also losing ground, falling 1.71% to trade at $0.305776. Overall, the current declines can be seen as a result of profit-taking after earlier gains and increased uncertainty over the holiday season.
The price of the most important cryptocurrencies – percentage change 👀
News that heats up the media space 🔥
Michael Saylor proposes a regulatory framework for cryptocurrencies in the US.
Michael Saylor, founder of MicroStrategy, presented a regulatory framework for digital assets that is intended to strengthen the US dollar, neutralize public debt and make the US a leader in the digital economy. The proposal includes, among others: creation of a reserve in BTC that could generate from USD 16 to USD 81 trillion for the US Treasury. Saylor’s plan defines six categories of digital assets, including Bitcoin, NFT tokens and digital currencies, and promotes effective regulation while minimizing compliance costs.
Nokia is moving into encrypting digital assets.
Nokia has filed a patent application for a device and software for encrypting digital assets. The patent, disclosed by China’s CNIPA patent office, describes a technology that uses digital asset indexes in the encryption process. This is Nokia’s next step towards blockchain technology, following previous projects such as Nokia Data Marketplace or the use of AR technology to simulate industrial processes. Will their encryption be as effective and unbreakable as Nokia 3310? 😛
Donald Trump appoints Bo Hines as director of the Cryptocurrency Council.
President-elect Donald Trump has named former football player Bo Hines as executive director of the newly formed Cryptocurrency Council. The Council, led by David Sacks (whom we wrote about recently), is intended to support innovation and development of the digital asset industry in the US. Hines, who previously ran for Congress, has gained support from pro-cryptocurrency PACs. Trump emphasized that the council will provide industry leaders with the resources they need to succeed.
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