Growing Investor Appetite Drives Bitcoin’s Surge
Bitcoin has printed its biggest monthly candle in crypto history, with the price rising over 40.8% during November to reach a new all-time high of $99,000 on Bitstamp.
The Impact of Trump’s Victory
The recent surge in Bitcoin’s value can be attributed to growing investor appetite bolstered by Donald Trump’s victory in the United States presidential election on Nov. 5. This has led to increased optimism and confidence in risk-on assets such as Bitcoin.
Trump Media Hints at Crypto Trading and Payments
In a significant development, official documents have revealed that Trump’s social media company has sought a trademark filing for computer software used for cryptocurrency trading and digital wallet services. The filing, known as "TruthFi," suggests that the company may be planning to offer cryptocurrency-related services in the future.
CFTC Commissioner Urges US Crypto Policy Reforms
Speaking at the North American Blockchain Summit on Nov. 21, CFTC Commissioner Summer Mersinger emphasized the need for standard US crypto-related policies through notice and comment regulation. She expressed concerns about the current "regulation by enforcement" strategy and the importance of establishing clear guidelines for entities such as decentralized autonomous organizations (DAOs).
UK to Deliver Comprehensive Crypto Regulation Framework by Early 2025
A draft regulatory framework for crypto assets is expected to be ready in the United Kingdom early next year, according to a Treasury official. The regulations will cover stablecoins, staking services, and cryptocurrency, providing much-needed clarity and guidance for the industry.
AI and Big Data Tokens Surge 131% Amid Bitcoin Bull Run
Artificial intelligence and big data tokens have seen their market capitalization soar by 131.4% since hitting their lowest point of the year on June 8. This surge can be attributed to overall positive investor sentiment, growing confidence in Bitcoin regulatory clarity, and no major ecosystem collapses.
DeFi Market Overview
According to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the green. The Mantra OM token rose over 122% as the week’s biggest gainer, followed by the Stellar XLM token, up over 114% on the weekly chart.
Market Trends and Analysis
The recent surge in Bitcoin’s value has led to increased investor interest in cryptocurrency-related services. Trump’s social media company may be planning to offer such services, while the UK government is working on a comprehensive regulatory framework for crypto assets.
Key Takeaways:
- Bitcoin has printed its biggest monthly candle in crypto history, with the price rising over 40.8% during November.
- Growing investor appetite bolstered by Donald Trump’s victory in the United States presidential election has led to increased optimism and confidence in risk-on assets such as Bitcoin.
- Trump’s social media company has sought a trademark filing for computer software used for cryptocurrency trading and digital wallet services, suggesting potential plans to offer cryptocurrency-related services.
- CFTC Commissioner Summer Mersinger urged US crypto policy reforms through notice and comment regulation, expressing concerns about the current "regulation by enforcement" strategy.
- A draft regulatory framework for crypto assets is expected to be ready in the United Kingdom early next year, covering stablecoins, staking services, and cryptocurrency.
- Artificial intelligence and big data tokens have seen their market capitalization soar by 131.4% since hitting their lowest point of the year on June 8.
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