Over the course of last year, ethereum, the second most prominent cryptocurrency in the crypto ecosystem, registered an impressive 90% increase in its price. It closed the year 2023 reaching $2.443 per unit, compared to $1.912 at the beginning of the year.

Data collected by Cryptorank highlights that this 90.8% increase over 2023 represents a significant evolution. Despite facing a 9.97% decline at the end of the last quarter of 2022, Ethereum reversed its course in the first months of 2023, achieving an increase of 52.4%. In addition, the second quarter closed with an increase of 6.12%.

During the second quarter of last year, an upgrade was implemented on the Ethereum network that allowed stakers to freely withdraw tokens used in the Proof Of Stake process. Although initially there was speculation about a possible negative impact on the price due to the oversupply of tokens, the reality was different. Ethereum accumulated an increase of close to 60% in the first half of the year.

However, the third quarter of 2023 presented a change of scenery with a decline of 13.5% in the value of the native token of the Ethereum network. Despite this setback, Ethereum managed to recover in the last quarter with a rebound of 36.5%.

Entering the year 2024, the crypto market has experienced slight fluctuations, marking a decline of close to 2% in the first days of January compared to the final price of the previous year.

As for future prospects, it has been announced that the test phase of the Dencun update will be launched this January. According to the revealed dates, the test phase on the Goerli network is expected to start on 17 January, followed by further tests on the Sepolia and Holesky networks. This development could have significant implications for the future course of Ethereum in the crypto ecosystem.

K. Tovar

Source: Cointelegraph

(Reference image: Unsplash+)

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In a recent interview with the Russian newspaper Izvestia, Anatoly Aksakov, Chairman of the Committee of the State Duma of Russia, revealed that new regulations regarding cryptocurrencies are being considered, which could come into force from the year 2024.

One of the main goals is the legalization of cryptocurrency transactions internationally, planned for the second half of 2024.

In addition, it is expected that in the same year a law will be passed that will allow the use of digital currencies in mutual agreements between the BRICS countries during the years 2025 and 2026.

Although it was initially scheduled to discuss a set of bills on cryptocurrency regulation in November this year, the meeting has been postponed to January 2024 due to difficulties in coordination between the various participating institutions.

Aksakov stressed the urgency of addressing these issues, underscoring the relevance of the cryptocurrency market in Russia.

K. Tovar

Source: Criptotendencia

(Reference image source: Traxer, Unsplash)

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Global ATM installations fell steadily so far in 2022, registering the lowest number in May with 205 new equipment, which is equivalent to a drop of around 89.75% in the month, a figure that was not seen since 2019. However, so far in June there has been a slight recovery.

One of the factors that impacted the slowdown in ATM installations globally highlights “China’s imposition of a blanket on cryptocurrency trading and mining.”

According to the Coin ATM Radar measurement scale, which is based on the data collected in the last two months, the daily average of ATM installations in the world is equivalent to 23 pieces of equipment and there are currently “38,000 operating ATMs installed.” across the globe.

These equipments fulfill a “crucial” function for the economy of the cryptographic system because it facilitates the exchange of fiduciary currencies to digital currencies and vice versa for both users and investors.

 2021 year of maximum growth for ATMs

Since 2020, cryptocurrency ATM installations have registered a constant growth driven by a favorable regulatory context and an expansion of the cryptographic market worldwide, where different cryptocurrencies reached their historical superlative value.

Cryptocurrency ATM installations peaked in 2021, with 1,971 ATMs installed in December of that year alone. The United States is the country with 33,403 ATMs installed, which is equivalent to 87.9% of the total network of cryptocurrency ATMs.

The leading manufacturers in the market are: Genesis Coin with 40.9% of the market share, followed by General Bytes with 21.6%. The third place is occupied by BitAccess with 16.1% of the market, followed by Coinsource with 5.4% and Bitstop with 4.8%, closing the first five places in the market.

A highly important variable that drove the growth of cryptocurrency ATM installations was El Salvador’s decision to assume bitcoin as its legal tender in its territory.

M. Rodríguez

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Source: cryptocity.press

La entrada Cryptocurrency ATM Installation Down 90% apareció primero en Bitfinance.

The crypto market is again affected by panic and the first cryptocurrencies lost more than 200,000 million dollars in a single day, in addition to the falls in the main Wall Street indices, where sales have been imposed in recent days.

Major cryptocurrencies plummeted significantly. Bitcoin fell another 10 % and fell below $ 26,000 for the first time in 16 months. In one week, the main virtual currency has lost more than 30 % of its value.

For its part, the ethereum registered a 15 % drop in the worst moments of tension, losing more than 2,000 dollars to settle at 1,719 dollars per unit, an amount that had not been registered since July 2021.

Terra, lost its parity with the dollar, and was the crypto that suffered the most yesterday. Its value plummeted by more than 96 % in just 24 hours, ending the session at 23 cents.

Its founder explained that he is looking for a way to rebuild it and will modify the “complex mechanism on which it is based and looking for more capital.“

Impact on stock markets

The fear of recession also prevailed yesterday in the stock market. The IBEX lost 1.35 %, to 8,200 points, leading the losses in Europe and weighed down by the sharp declines that marked the opening on Wall Street

The crisis of the cryptographic system has been impacted by variables such as inflation, the “aggressive policy of raising interest rates by the United States Federal Reserve and the downward revision of investors’ economic projections.”

M. Rodríguez

Source: bancaynegocios.com

La entrada Crypto market loses 200 billion dollars in one day apareció primero en Bitfinance.

The interest of Colombians in cryptocurrencies has increased significantly in 2022. This is demonstrated by the most recent study carried out by the marketing agency Sherolck Communications, which shows that 22.3 % of citizens expect to buy bitcoin this year. which represents a growth of 208% compared to 5.2 % that this interest had at the beginning of the year.

The interest has increased due to the relaxation of the regulatory environment for bitcoin and cryptocurrencies that the Financial Superintendence of Colombia (SFC) has been carrying out with a series of authorizations for the start of operations of various exchanges such as Bitso, Buda.com, Binance, Gemini and Panda, which are associated with specific banking entities to offer cryptocurrency trading services.

The Colombian crypto market has been experiencing some changes and transactions are increasing despite the regulations that some government entities are applying.

Mauricio Tovar, director of operations (COO) of Tropikus, hopes that the increase in “P2P transactions will continue, despite the recent regulatory attempts by the Financial Information and Analysis Unit (UIAF) that force exchanges to report operations by above a certain amount. Likewise, the National Tax and Customs Office of Colombia (DIAN) wants Colombians to report their operations in LocalBitcoins.”

Inflation will impact the Colombian crypto market

One of the factors that is impacting the growth of the cryptocurrency market in the country is the increase in inflation that has been registered in the Latin American region and particularly in Colombia during the first months of the year.

According to Tovar, the growth of inflation “will highlight the value that cryptocurrencies can provide. Inflation will be a problem that will lead people to learn to look for ways out, including cryptocurrencies.”

People are analyzing the alternatives to protect themselves from inflation and bitcoin and in general all decentralized finance is a very valid option to protect the income of citizens.

According to the director of operations Tropikus, inflation has its beginning in the printing of money by some countries to face the pandemic and the supply chain crisis. But with the war between Russia and Ukraine, the problem has worsened because the prices of fuel, raw materials and food have increased.

The increase in consumer prices (CPI) in Colombia reached 8.53 % in March 2022, the highest since the National Administrative Department of Statistics (DANE) began its records in 1975.

M. Rodríguez

Source: criptonoticias.com

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