News on Medial

Cryptoverse: Bored bitcoin seeks direction after big bang

Economic Times · 1m

- Bitcoin has experienced a period of stagnation between $56,000 and $63,000 in the second half of the year, contrasting the growth it saw earlier in the year. - The launch of options on BlackRock's spot bitcoin ETF is expected to attract more retail money into the market, pending approval from regulatory bodies. - The anticipation and approval of US ETFs have significantly increased global bitcoin activity, leading to a growth in the cryptocurrency market to $2.2 trillion. - Despite becoming more mainstream, bitcoin's volatility has decreased from last year, falling from 67% to 42%. - India and Nigeria lead the rankings for crypto adoption, with several Asian emerging markets also in the top 20, indicating strong adoption in lower-income countries. - The United States remains the largest market in terms of transaction volume, followed by India.