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- El Salvador Increases Bitcoin Treasury to 6,000.77 BTC, Secures Top National Ranking
El Salvador Increases Bitcoin Treasury to 6,000.77 BTC, Secures Top National Ranking
News on the Blockchain
December 29, 2024
🌍 Daily Crypto Market Overview
Global Stats:
Cryptocurrencies: 2.4M+
Exchanges: 772
Market Cap: $3.33T (+1.20%)
24h Volume: $79.84B (-25.93%)
Bitcoin Dominance: 56.5%
Ethereum Dominance: 12.3%
ETH Gas Price: 3.4 Gwei
Fear & Greed Index: 54 (Neutral)
🪙 Top 5 Cryptocurrencies by Market Cap:
Name | Price | 24h Change | Market Cap | 24h Volume |
|---|---|---|---|---|
Bitcoin | $94,952.17 | +0.41% | $1.88T | $22.72B |
Ethereum | $3,401.22 | +1.73% | $409.74B | $13.26B |
Tether | $0.9984 | +0.01% | $138.78B | $64.26B |
BNB | $712.09 | +2.02% | $102.55B | $1.93B |
Solana | $196.62 | +5.81% | $94.30B | $2.33B |
💹 Market Highlights:
Total DeFi Volume: $8.25B (10.34% of total market volume)
Stablecoins Volume: $72.5B (90.81% of total market volume)
Coin with highest % change: HIVE (+37.97%)
📈 Preview On Today’s News:
- El Salvador Increases Bitcoin Treasury to 6,000.77 BTC, Secures Top National Ranking
- Binance’s AI and ML Efforts Prevent Over $129 Million in Crypto Scams in 2024
- Crypto Venture Capital Set for $18 Billion Surge in 2025 with Real-World Focus
Keep reading below for more!
Today’s News:
1)
El Salvador Increases Bitcoin Treasury to 6,000.77 BTC, Secures Top National Ranking
El Salvador has reinforced its position in the global cryptocurrency landscape by increasing its Bitcoin holdings to over 6,000 BTC, now valued at approximately $569.3 million. Under President Nayib Bukele’s leadership, the nation ranks sixth among countries with significant Bitcoin reserves, following the United States, China, the United Kingdom, Ukraine, and Bhutan. This strategic acquisition, achieved despite the International Monetary Fund's (IMF) recommendations to reduce Bitcoin activities, underscores El Salvador’s commitment to Bitcoin as a primary treasury asset. The latest purchase brings the total to 6,000.77 BTC, reflecting a 108.02% gain with an average acquisition price of $45,450 per BTC. Additionally, the government plans to phase out the Chivo wallet in favor of private-sector Bitcoin wallets, while awaiting the approval of a $1.4 billion IMF agreement that has been delayed due to concerns over the country's Bitcoin policies.
Increased Bitcoin Holdings and Global Ranking: El Salvador now holds 6,000.77 BTC, valued at $569.3 million, making it the sixth-largest national Bitcoin treasury.
Commitment to Bitcoin Amid IMF Concerns: The government continues to prioritize Bitcoin investments despite IMF advice, plans to replace the Chivo wallet with private alternatives, and awaits approval of a significant IMF deal.
2)
Binance’s AI and ML Efforts Prevent Over $129 Million in Crypto Scams in 2024
In 2024, Binance successfully thwarted more than $129 million in cryptocurrency scams through its advanced Anti-Scam Refund Initiative, which leverages cutting-edge artificial intelligence (AI) and machine learning (ML) technologies. The initiative enabled the company to process approximately 80 fund recoveries each month, returning around $9 million to victims and issuing over 15,000 daily scam alerts to users. By blacklisting over 47,000 malicious addresses and implementing 50 specialized models with 14 major system upgrades, Binance transformed digital asset security from reactive to proactive measures. Additionally, the collaboration with authorities led to significant recoveries, including aiding in the dismantling of scam rings and preventing billions in potential losses through real-time transaction monitoring and behavioral profiling.
Proactive Scam Prevention and Recovery: Binance’s initiative returned $9 million to victims monthly, issued 15,000 daily alerts, and blacklisted over 47,000 malicious addresses, preventing more than $129 million in losses.
Advanced AI and ML Technologies: The use of 50 specialized models, 14 system upgrades, real-time transaction analysis, and AI-powered behavioral profiling enabled Binance to proactively defend against increasingly sophisticated crypto fraud.
3)
Crypto Venture Capital Set for $18 Billion Surge in 2025 with Real-World Focus
Venture capital funding in the cryptocurrency sector is anticipated to reach $18 billion in 2025, driven by robust market fundamentals and more favorable regulatory conditions, according to Robert Lay of PitchBook. After a challenging 2024 marked by reduced investments due to the collapse of major players and higher interest rates, the outlook has brightened with Bitcoin achieving all-time highs and a more supportive regulatory environment emerging. Investments are expected to concentrate on Bitcoin Layer 2 solutions, blockchain infrastructure, AI blockchain, DeFi, Web3, privacy, and tokenization, with a notable shift towards developing real-world, user-friendly applications in industries such as mobility and energy. Enhanced involvement from large financial institutions and improved regulations are likely to increase trust and attract more investment, signaling a strong rebound for the crypto ecosystem in the coming year.
Funding Growth and Investment Focus: Crypto venture capital is projected to grow to $18 billion in 2025, emphasizing Bitcoin Layer 2 solutions, blockchain infrastructure, AI blockchain, DeFi, Web3, privacy, and tokenization, alongside a shift towards real-world applications.
Regulatory Improvements and Institutional Involvement: Better regulatory conditions and increased participation from large financial institutions are expected to enhance trust and drive significant investment in the crypto market.
