25/12/2023. Merry Christmas from MNO, New TalkBack Question and Weekly CryptoNews Digest (December, 18 – December, 24)

Hello dear readers! The year of 2023 is closing to an end so this will be the last post you will be able to read on the MNO blog this year. I must say that 2023 was pretty uneventful, but the end of it was quite favorable for crypto enthusiasts, as the market picked up steam and brought handsome profits to those preferring to follow HODL policies or purchased crypto funds earlier in the year. And now to the Christmas wishes as Monday when I usually post fell exactly on the 25th of December.

As the merry bells chime and twinkling lights paint the night sky, I wish all the cherished readers of the MNO blog a Christmas brimming with joy, warmth, and moments that sparkle like snowflakes on child’s laughter. May your stockings overflow with cherished memories, your feasts be filled with delightful company, and your hearts overflow with the magic of the season. Wishing you a Christmas that lingers in your soul long after the last carol has faded, and a New Year that dawns with vibrant hope and endless possibilities. Happy holidays, MNO family!

Remember that in the new year I plan to replace HYIPs with other money-making opportunities that my readers can utilize to actually make a passive income with no risk whatsoever. So, if you don’t want to miss some great paying websites that will actually make you some profits then the only way you ensure you will hear of them first is to follow MNO on Telegram, Facebook, or X/Twitter.

By doing so you will be updated once anything worthwhile appears on my monitor that will help you to add more options to earn some a discretionary income for yourselves. And if you wish to receive the blog articles directly to your email address you can submit and confirm it on this page and join the thousands of subscribers I have already.

If you have any questions for me I’m easy to reach on Telegram @mnoblog and you may also email me directly at abramsonp@gmail.com or submit your query via this online form. I’m looking forward to hearing from you as always guys!

MNO TALKBACK – POLL RESULTS POSTED AND NEW QUESTION ASKED

As the year approaches to its inevitable conclusion I thought it a good time to draw the results of the poll on the MNO TalkBack page that has pretty much been there for most of 2023. As I was hoping we would eventually see another big HYIP similar to what we all enjoyed participating in back in the day the question I offered you to answer sounded like that – Do you think the HYIP industry will improve for the remainder of 2023?

The answers were more than easy to predict with the majority 83% of the MNO readers in fact, saying a resounding “No, it will still be all as quiet as usual” and only the remaining 17% holding a more optimistic view and voted “Yes, we’ll see more promising projects”. By the end of 2023 it was pretty clear that the majority was unfortunately right and there was no really good HYIPs and too many fast scams overwhelmingly running the industry.

Anyway, for the upcoming 2024 I myself am giving up on much hope for any HYIP industry revival and fully intend on further switching my attention to the subject of cryptocurrencies which have been performing particularly well lately. The new question which everyone will be able to answer on the MNO TalkBack page within the next few weeks will be the following with the possible answers also listed below.

How much crypto funds do you hold in your accounts at the moment?

– Less than $1,000, just to play safe
– From $1,000 to $10,000, advanced user
– More than $10,000, professional investor
– None, but planning to buy funds soon

I hope you wouldn’t mind sharing this info about yourself with your fellow MNO readers on this page. Remember that all the answers are confidential and completely anonymous, so please do your part and we will draw the final results of the poll soon. Thanks in advance for voting on the MNO TalkBack, guys!

It’s time now to get back to the major news from the crypto industry that grabbed everyone’s last week, from December, 18 to December, 24, 2023. Not quite the final week of the year yet, but lots of interesting events and news to report. So let’s start today’s Weekly CryptoNews Digest on MNO, shall we?

SOLANA BECOMES THE FOURTH LARGEST CRYPTO BY MARKET CAPITALIZATION

Last Friday Solana saw a significant price surge, briefly pushing its market capitalization above that of BNB. However, BNB quickly regained its fourth-place position. Finally, on Saturday SOL continued its rally, reaching a 20-month high of $104. This time, its market capitalization definitively surpassed both XRP and BNB, securing its position as the fourth-largest cryptocurrency.

Solana’s SOL token’s recent surge and ascent to the fourth-largest cryptocurrency position is a significant event in the crypto world, and here’s a breakdown of what happened.

Several factors contributed to SOL’s ascent:
– Thriving DeFi ecosystem: Solana boasts a rapidly developing DeFi (decentralized finance) scene with applications offering lending, borrowing, and trading services. This activity generates transaction fees, benefiting the network and boosting SOL’s value.
– Meme coin craze: The rise of meme coins like Bonk on Solana attracted significant user interest and capital to the network, further fueling the price surge.
– Technological innovations: Solana’s unique architecture, focusing on high transaction speed and low fees, has attracted developers and users seeking alternatives to Ethereum’s congested network.

Overtaking XRP and BNB:
– XRP’s challenges: XRP, long considered a top contender, has faced legal hurdles due to its ongoing lawsuit with the US Securities and Exchange Commission (SEC). This uncertainty may have led investors to seek alternative options like SOL.
– BNB’s shift in focus: BNB, the native token of the Binance exchange, has seen its focus shift towards the development of Binance Smart Chain, its Ethereum Virtual Machine (EVM) compatible blockchain. This may have divided some investors, creating an opportunity for SOL to capture interest from those seeking pure exposure to the Solana network.

Future outlook:
– Sustainability: While SOL’s rise is impressive, it’s important to note that the cryptocurrency market is volatile, and its future trajectory is uncertain. Factors like regulatory developments, technological advancements, and overall market sentiment can all impact its price.
– Competition: SOL faces stiff competition from other Layer 1 blockchains vying for market dominance. Ethereum’s scaling solutions, Avalanche, Fantom, and others are all vying for user and developer adoption.

Overall, SOL’s recent achievements highlight its potential as a major player in the crypto space. However, it’s crucial to remember that the market is dynamic and constantly evolving. Staying informed about the latest developments and conducting thorough research is essential before making any investment decisions.

COINBASE SECURES REGISTRATION IN FRANCE

Last week Coinbase, a major company in the cryptocurrency world, secured registration with the French markets regulator is a significant development for the cryptocurrency exchange, indicating its expansion plans and potentially impacting the French crypto landscape. Here’s a breakdown of the key points:

What happened:
– Coinbase, one of the largest cryptocurrency exchanges globally, obtained registration as a Virtual Asset Service Provider (VASP) from the Autorité des marchés financiers (AMF), France’s financial markets regulator.
– This registration allows Coinbase to offer its full suite of services in France, including buying and selling cryptocurrencies, storing digital assets, and providing custodial services.

Why this matters:
– France’s growing crypto market: France boasts a growing crypto market, with increasing user adoption and interest. This registration gives Coinbase access to a new and potentially lucrative customer base.
– Regulatory clarity: France has established itself as a crypto-friendly nation with clear regulations for VASPs. This registration provides Coinbase with regulatory certainty and legitimacy, potentially attracting more users and institutional investors.
– Global expansion: This move aligns with Coinbase’s “Go Deep, Go Broad” strategy, aiming to expand its global reach. France, with its large and tech-savvy population, becomes a strategic foothold in its European expansion plans.

Potential impact:
– Increased competition: Coinbase’s arrival could intensify competition in the French crypto market, potentially benefiting users through lower fees and improved services.
– Boost for French crypto ecosystem: Coinbase’s presence could attract more developers and businesses to build on its platform, potentially fostering the growth of the French crypto ecosystem.
– Regulatory scrutiny: The AMF’s approval could signal a more open and welcoming stance towards responsible crypto businesses, potentially encouraging other VASPs to seek registration in France.

However, some potential challenges remain:
– Volatile market: The crypto market is prone to significant price fluctuations, which could impact Coinbase’s user base and revenue.
– Regulatory uncertainties: While France has clear regulations, the global regulatory landscape surrounding crypto remains fluid and could pose challenges in the future.

Overall, Coinbase’s registration in France is a positive development for the company and the French crypto market. It signifies increased institutional engagement and potentially paves the way for a more vibrant and regulated crypto ecosystem in France.

HONG KONG CONSIDERS SPOT CRYPTO ETF

While the news of Hong Kong considering spot crypto ETFs has been circulating for several months, the recent developments prompting widespread discussion occurred last week, specifically on December 22nd, 2023.

What is a Spot Crypto ETF?
An Exchange-Traded Fund (ETF) tracks the price of an underlying asset, such as a stock or commodity. A spot crypto ETF specifically invests directly in cryptocurrencies, mirroring their price movements. This allows investors to gain exposure to crypto without directly buying and holding the assets themselves.

Why is Hong Kong Considering Spot Crypto ETFs?
– Boosting its Digital Asset Hub Ambitions: Hong Kong aims to become a leading center for digital asset innovation. Allowing spot crypto ETFs could attract more institutional investors and crypto businesses to the region.
– Shifting Regulatory Stance: Hong Kong has previously taken a cautious approach to crypto, but recent changes indicate a more open stance. In October 2023, it updated regulations to allow broader investor access to crypto investments.
– Competition from Other Countries: Several other countries, like the US and Canada, already have approved spot crypto ETFs. Hong Kong may be looking to stay competitive in the growing digital asset market.

Potential Impacts:
– Increased Investment in Crypto: Easier access through ETFs could lead to more individuals and institutions investing in crypto, potentially boosting its value and market size.
– Improved Market Efficiency: ETFs can provide greater liquidity and transparency for the crypto market, making it more attractive to investors.
– Regulatory Scrutiny: While Hong Kong may be open to spot crypto ETFs, it’s likely to impose regulations and safeguards to address concerns about volatility and money laundering.

Challenges and Concerns:
– Market Volatility: Crypto markets are notoriously volatile, making ETFs a potentially risky investment.
– Regulation and Security: Clear and effective regulations are crucial to prevent fraud and protect investors.
– Impact on Traditional Finance: The potential growth of the crypto market could potentially challenge the dominance of traditional financial institutions.

Overall, Hong Kong’s consideration of spot crypto ETFs represents a significant step towards integrating crypto into the mainstream financial system. However, it’s important to remember the potential risks and challenges associated with this development, and to conduct thorough research before making any investment decisions.

BITWISE’S SPOT BITCOIN ETF AD MAKES HEADLINES

Speaking of ETFs and the changing of crypto market’s perception by the wider audiences. Last week Bitwise Asset Management‘s first commercial for a spot Bitcoin ETF continued to generate buzz and spark discussions across the cryptocurrency and financial landscapes. Below is a roundup of what happened.

Media Coverage and Reactions:
– Major financial news outlets like CNBC, Bloomberg, and Coindesk have covered the news extensively, analyzing the potential impact of the ad campaign on the crypto market and institutional adoption of Bitcoin.
– Industry experts and analysts have offered varied opinions, with some praising the move for its potential to increase awareness and attract new investors, while others remain cautious about the risks of promoting a volatile asset like Bitcoin to a broad audience.
– Crypto enthusiasts on social media have largely expressed excitement about the ad, seeing it as a positive step towards mainstream recognition and acceptance of Bitcoin.

Commercial Performance and Viewership:
– While specific viewership numbers haven’t been officially released, the ad has been spotted on major television networks like CNBC, Fox Business Network, and Bloomberg, indicating a potentially wide reach.
– Early indications suggest the ad has generated significant online buzz and social media engagement, further amplifying its impact.

Regulatory Landscape and Potential Impact:
– The ad’s placement on major networks raises questions about the evolving regulatory landscape surrounding crypto advertising. While there are currently no specific regulations in place, the US Securities and Exchange Commission (SEC) may increase scrutiny in the future.
– Bitwise’s move could pave the way for other ETF issuers to launch similar advertising campaigns, potentially leading to a more competitive and dynamic crypto marketing landscape.

Next Steps and Future Developments:
– Bitwise has not yet announced the launch date of their spot Bitcoin ETF, but the commercial campaign suggests it could be imminent.
– The company is likely to continue monitoring the ad’s performance and public response, potentially making adjustments or launching additional campaigns in the future.
– The broader crypto community will be watching closely to see the long-term impact of this marketing effort on Bitcoin adoption and the overall market sentiment.

Overall, Bitwise’s spot Bitcoin ETF ad remains a significant development with the potential to shape the future of Bitcoin and the cryptocurrency industry. As the story unfolds, it will be interesting to see how the commercial campaign affects investor behavior, regulatory scrutiny, and the competitive landscape within the space.

MAIN TRENDS AND DEVELOPMENTS ON THE CRYPTO MARKET IN 2023

And finally, I would like to end this last Weekly CryptoNews Digest on MNO for 2023 by analyzing the main events and trends on the crypto market that happened throughout this year.

2023 has been a roller coaster year for the cryptocurrency market, filled with both significant highs and notable lows. Here are some of the main highlights:

Bullish Trends:
– Bitcoin’s resurgence: After struggling in 2022, Bitcoin saw a remarkable comeback in 2023, surging as high as 44,000 USD in November. This resurgence was attributed to improved market sentiment, growing institutional adoption, and anticipation of a potential U.S. Bitcoin ETF approval.
– Solana’s rise: The Solana blockchain experienced a strong year, with its native token SOL reaching a 20-month high in December. This was fueled by increased developer activity, the launch of new decentralized applications (dApps), and growing optimism surrounding the Solana ecosystem.
– Regulation & Institutional involvement: 2023 saw increased regulatory activity from various governments, suggesting a growing acceptance of digital assets. Additionally, major financial institutions continued to explore and invest in the crypto space, further legitimizing the industry.

Bearish Trends:
– Terra-Luna collapse: The dramatic crash of the Terra-Luna ecosystem in May sent shockwaves through the crypto market, erasing billions of dollars in value and raising concerns about systemic risks.
– General market downturn: The broader financial market faced significant challenges in 2023, with rising inflation and interest rates leading to a decline in stock prices. This spillover effect also impacted the crypto market, contributing to price drops across various assets.
– Increased cyberattacks and scams: Unfortunately, the crypto space continued to be plagued by cyberattacks and scams throughout the year, highlighting the importance of security and education for investors.

Other noteworthy developments of 2023:
– Emergence of Web3 gaming: Play-to-earn and blockchain-based gaming gained significant traction in 2023, attracting new users and fueling further development in the Web3 space.
– Growth of DeFi and NFTs: Decentralized finance (DeFi) and non-fungible tokens (NFTs) continued to evolve and saw adoption across various sectors, showcasing the potential of these technologies beyond crypto speculation.
– Environmental concerns: The environmental impact of cryptocurrency mining remains a topic of debate, with calls for more sustainable solutions gaining momentum.

Overall, 2023 painted a picture of a maturing crypto market, characterized by both positive developments and continued challenges. While uncertainties and risks still exist, the year also demonstrated the growing mainstream adoption, technological advancements, and resilience of the industry. Let’s hope that the upcoming 2024 wil bring more positive developments for all the current and future crypto holders.

That’s about it for this latest Weekly CryptoNews Digest on the MNO blog. I’ll be posting the next update on cryptocurrency in a week from now, already the first day of 2024. So if you’re genuinely interested in what’s going on in the cryptocurrency world then make sure you check it out next Monday.

As it’s my last post of the year and I won’t be with you until January I wish you all Happy New Year, dear MNO readers! May the coming year be filled with joy, prosperity, and good reads. Here’s to new adventures, fresh perspectives, and unforgettable stories in 2024 Keep an eye out for MNO’s exciting coverage of the crypto industry in the new year. Until then, all the best from London! And keep following MNO – For Money Lovers!