$11.3T crypto trading surge
SEC: Bitcoin in the clear, others not
XRP, Solana for U.S. reserve?
XRP whales buy $3.8B
$7.5B airdrop reshapes listings
Record Breaking $11.3 Trillion High for Spot and Derivatives Trading on Centralized Crypto Exchanges
The overall spot and derivative trading volume for centralized crypto exchanges (cexes) hit a record high of $11.3 trillion in Dec. 2024. According to market data from CCData, this record high came from a 7.58% increase in the previous month.
With a trading volume of $946 billion, Binance maintained its position as the market leader in spot trading. Trade volumes of $247 billion and $191 billion saw Bybit and Coinbase come next.
The historic ascent of bitcoin, which initially crossed the $100,000 threshold on December 5 and peaked at $108,249 on December 17, coincided with the December trading hype. Additionally, trading volume for cryptocurrency derivatives surged, rising 7.33% to $7.58 trillion, a new monthly high for derivatives trading volume.
The report observed a surge in liquidations as traders tried to profit from market turbulence. On Dec. 20, there was a significant $1 billion liquidation as bitcoin dropped 3.5% from its $100,000 level after remarks made by Federal Reserve Chair Jerome Powell indicating that there would be no hasty interest rate cuts.
In 2024, the Bitcoin network completed more than $19 trillion in transactions, more than doubling the $8.7 trillion that was settled in 2023. The U.S. also consolidated its dominance in bitcoin mining by the end of 2024, controlling more than 40% of the world’s bitcoin hashrate.
January’s market outlook improved as the U.S. Consumer Price Index (CPI) report revealed core inflation for December was lower than anticipated, increasing the likelihood of interest rate cuts.
SEC Chief: Bitcoin Clear but 15,000 Crypto Tokens Face Uncertain Fate
Outgoing U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler defended his regulatory stance on cryptocurrency in an interview with CNBC on Tuesday. Gensler described the cryptocurrency market as plagued by speculation and a lack of compliance with key financial laws. He stated:
This field, the crypto field, a highly speculative field, has not been compliant with various laws, whether it’s any money laundering laws, sanctions laws, or in our case, securities laws.
He emphasized that while bitcoin itself is not classified as a security, most other tokens fail to meet disclosure requirements. “Now, bitcoin’s not a security, but these 10,000 or 15,000 other tokens, the investing public has been hurt over the many years,” he claimed.
Gensler acknowledged bitcoin’s growing role in global financial markets, comparing it to gold as a store of value. The SEC chairman stressed:
I think that bitcoin is a highly speculative, volatile asset. But with 7 billion people around the globe, 7 billion people want to trade it. Just like we do have gold for 10,000 years, we have bitcoin. It might be something else in the future as well.
However, he warned that other cryptocurrencies face an uncertain future unless they prove their utility. “These other thousands of projects need to show their use case and show that they actually have fundamentals underlying them or they won’t persist,” he added.
Addressing criticism that the SEC focused on enforcement rather than clear guidelines for the industry, Gensler stressed the importance of existing laws and transparency. “This crypto field seems to trade mostly on sentiment and much less on fundamentals. But if the fundamentals are there, and I say if, then make the proper disclosures under the securities laws. That’s the basic bargain,” he said. Despite speculation about his personal views, Gensler remained consistent, stating: “I’ve never owned any of these. And I’ve been consistent for seven or eight years on this.” His remarks underscored his firm belief in safeguarding investors through strict adherence to regulations.
Trump open to adding XRP, Solana to U.S. crypto reserve
As AI is changing industries, data is more important than ever. But here’s the thing: the centralized systems we use today come with big ethical problems. From privacy breaches to monopolistic control, centralized data collection is a world of mistrust and opacity.
Governance, rewritten: DeAIOs go for decision-making without human limits | Opinion
If we really want AI to be ethical and transparent, we need a new way. That’s where decentralized AI comes in—a game changer for collecting, managing, and using data ethically and fairly. Centralized systems have been the backbone of AI. Big companies hoard huge amounts of data to train their algorithms, but often with little transparency. This creates big problems. For one, privacy takes a hit.
Think of all those data breaches you’ve heard about—like the Facebook-Cambridge Analytica scandal. These breaches expose the weaknesses of centralized systems and leave users with no control over their own data.
Then there’s the concentration of power. A few tech giants hold the keys to most of the data and can, therefore, control AI innovation and shut out smaller players. This stifles creativity and puts a lot of decision-making power in the hands of a select few.
Also, let’s not forget the dodgy data practices hidden in the fine print. Most users have no idea how their data is being collected or used, and so trust in the whole system erodes.
Decentralized AI
Decentralized AI turns this on its head. Instead of one entity controlling everything, it distributes power and responsibility across many. Using blockchain, federated learning, and edge computing, decentralized AI gives control back to the people whose data is being used.
It’s simple: be transparent, protect privacy, and let people own their data. Blockchain creates a digital record that can’t be changed, so you always know how your data is being used. Federated learning means AI systems can train on your data without ever storing it in a central location, so your info is private.
Of course, moving to a decentralized model isn’t without its challenges. The tech is complex and requires robust infrastructure. Because the regulatory landscape around decentralized systems is still evolving, it can be hard for businesses to know how to proceed. Adoption is another hurdle; many people and organizations are reluctant to leave behind the familiar centralized systems they are used to.
Despite the hurdles, the potential is huge. To make it happen, we need collaboration between governments, industries, and innovators. Governments can help by creating laws that support data ownership and privacy.
Companies and researchers need to work together to build the infrastructure and educate people about decentralized AI. Emerging technologies like web3 (a decentralized internet) can also play a big role in making this future possible.
Centralized data collection got us here, but it’s not sustainable. Decentralized AI is a new way forward, one that’s fair, transparent, and empowering. It’s not just the ethical choice; it’s the smart one.
The reason we need decentralized AI is the speed of AI growth and its growing impact on society. Every day, algorithms make decisions on healthcare and finance and often use data collected without proper oversight.
By acting now, we can make sure AI evolves in a way that benefits everyone, protects individual rights, and unleashes the full power of technological progress. If we make this shift, we can have an AI that works for everyone, not just the privileged few. Now is the time to act. As data is the lifeblood of AI, adopting decentralized systems is our best bet for a trustworthy and transparent technological future.
It’s not just about fixing the problems with centralized systems; it’s about rethinking data and technology altogether.
Imagine a world where users have full control over their own data, where communities can decide how data is used, and where gatekeepers don’t block innovation. This isn’t just a tech evolution; it’s a cultural one.
Decentralized systems match the growing demand for fairness and accountability in the digital age, and we’re seeing that ethical and efficient AI isn’t just possible—it’s inevitable.
XRP Millionaires Unleash Crazy $3.8 Billion Accumulation Wave
XRP investors are celebrating today, as the digital asset has surged to a value of $2.89. This is the highest point it has been at since last December, making XRP the third-biggest cryptocurrency by market capitalization. But the numbers do not tell the whole story. There is a strategy behind the rise, with a focus on continuous growth and changes in on-chain patterns presented by Santiment. ADVERTISEMENT Related Wed, 01/15/2025 – 12:54 XRP
Network Seeing Explosion in $1 Million Transactions Godfrey Benjamin It is wallets holding between 1 million and 10 million XRP that are the key players here, and their collective effort has been amped up over the past two months. They have upped their holdings by more than 37%, which is about $3.8 billion in value. So, it is no accident but is a testament to some seriously calculated moves and deep-rooted confidence in XRP’s potential.
HOT Stories XRP Above $3: Next Target in Line, Shiba Inu (SHIB) Showing Nothing, Solana (SOL) on Verge of Becoming Bullish Again XRP Hits New Record High on Major Exchanges After Seven Years Cardano Founder Praises XRP Community’s Resilience and Ripple CTO Ripple CTO Reveals Painful Truth About XRP $3.84 ‘ATH’ Spotlight: XRP price So, what’s going on? Prices are on the rise — there has been a 9.14% increase in the last day, and XRP is trading at $2.83, which keeps it in a small range between $2.55 and $2.89. This upward momentum is more than just market speculation.
ADVERTISEMENT XRP to USD by CoinMarketCap There has also been talk of an XRP-focused exchange traded fund, which has added to the positive sentiment around the token. Who are the big players behind the scenes? If you take a closer look at XRP’s on-chain activity, you will see what’s going on. In just 24 hours, there were 341 transactions on the network worth over $1 million.
XRP on Verge of $3: Key Levels to Watch Arman Shirinyan Their actions have had a ripple effect throughout the ecosystem, changing people’s expectations and increasing the network’s potential. This is what makes XRP stand out in a very competitive crypto landscape right now.
Hyperliquid’s $7.5B airdrop marks shift from centralized token listings
The decentralized launch of the Hyperliquid (HYPE) token may usher in a “new era” for onchain fair launch cryptocurrencies following some disappointing token launch events on centralized exchanges.
After staging the most valuable airdrop in crypto history, the Hyperliquid token came into the spotlight for its decentralized distribution, which excluded venture capital (VC) firms and early investors.
“The HYPE token launch marks the beginning of the new era between centralized exchange listings and onchain […] Because HYPE was launched by the protocol on its order book on its own layer 1.”
The token “didn’t deploy on any centralized venue” but was launched and fairly priced by the crypto community, added Dervoed.
In contrast with the Hyperliquid token launch, other cryptocurrencies are launched on centralized exchanges with an allocation to VC firms and early investors.
As of May 2024, over 80% of tokens launched on Binance have decreased in value during the first six months after their listing.
However, most Binance-listed memecoins had a lucrative year in 2024. 12 out of the 15 memecoins launched on Binance saw significant price increases after going live.
Hyperliquid token soars 600% since launch as airdrop surpasses $7.5 billion
The Hyperliquid token airdrop became the most valuable airdrop in crypto history following the token’s price appreciation.
The HYPE token was trading at $22.67 as of 2:02 pm UTC on Jan. 15. The token rose over 600% since it was launched on Nov. 29, CoinMarketCap data shows.
Following the 600% price appreciation, the Hyperliquid airdrop’s total value grew to over $7.5 billion as of Jan. 8, Cointelegraph reported.
According to the protocol, it has distributed 31% of its $1 billion HYPE tokens on the genesis event, with 38.8% of the remaining supply allocated for future emissions and community rewards, 6% to the Hyper Foundation treasury and 0.3% to grants.
Hyperliquid is a layer-1 blockchain based on a proof-of-stake consensus mechanism that can process up to 200,000 transactions per second. The HYPE token is central to the ecosystem, serving both as the staking asset for consensus and as the gas token for Hyperliquid’s Ethereum Virtual Machine-compatible layer, HyperEVM.
