Originally published on: November 22, 2024
Bitcoin made history with its largest monthly candle as it crept closer to the $100,000 mark, fueled by increased investor interest following Donald Trump’s win in the US presidential election. The surge in the crypto industry was further validated by the news that Trump’s social media company has applied for a trademark filing for computer software related to cryptocurrency trading and digital wallet services.
The price of Bitcoin soared over 40.8% in November, setting a new all-time high with a monthly candle that surpassed $99,000 on Bitstamp. Analysts are now anticipating Bitcoin to hit $100,000 very soon.
Trump Media’s filing for the trademark “TruthFi” hints at potential plans for a cryptocurrency trading and payment service, as revealed in documents submitted to the US Patent and Trademark Office. The filing mentions software for digital wallets, payment processing for crypto and fiat, and trading in digital assets.
At the North American Blockchain Summit, CFTC Commissioner Summer Mersinger emphasized the importance of establishing standardized US crypto policies through notice and comment regulations. The CFTC’s approach to regulation may shift under the incoming administration, moving away from the current strategy of “regulation by enforcement.”
In the UK, a new regulatory framework for crypto assets is in the works and is expected to be finalized early next year. The regulations will cover stablecoins, staking services, and cryptocurrency, aiming to provide clarity and guidelines for the evolving digital asset landscape.
AI and big data tokens have experienced a tremendous surge in market capitalization, growing by 131.4% since hitting a low point earlier this year. Projected total market capitalization for AI and big data crypto projects has reached $42.1 billion, with tokens like Near Protocol, Internet Computer, and Render leading the charge.
The top 100 cryptocurrencies by market capitalization closed the week with positive gains, with MantraOMcoin and StellarXLMtoken standing out as the biggest gainers. As the DeFi space continues to evolve rapidly, stay tuned for more updates and insights in the weeks to come.
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