The crypto market continues to evolve dynamically, and the end of 2024 is no exception. Key developments across various countries are shaping the future of cryptocurrencies, with major players like Bitcoin and Floki in the spotlight.
Russia Leverages Bitcoin for International Trade
Russia’s Finance Minister has confirmed the use of Bitcoin in international trade transactions. This move marks a significant step in Russia's adoption of cryptocurrency within its economic framework, signaling its intent to bypass traditional financial systems.
Bitcoin Market Volatility Hits Record Lows
According to Glassnode, Bitcoin's market volatility during this bull run has reached historic lows. While previous bull markets experienced sharp price swings, this cycle has seen stabilization. The most notable drop occurred on August 5, 2024, with a 32% decline. However, most pullbacks only saw a 25% drop from local highs. The introduction of spot ETFs and growing institutional interest have stabilized the market.
Floki Plans ETP Launch for European Investors
Originally known as a meme token, Floki is stepping into the institutional market with an exchange-traded product (ETP) for European investors. Set to launch in early 2025, this ETP will track the FLOKI token, offering a new avenue for investment. If approved, Floki will join Dogecoin as one of the few meme tokens with institutional backing in Europe.
The crypto market continues to evolve with significant changes in various countries. Russia and Turkey are taking new measures to integrate cryptocurrencies into their economic systems, and the Bitcoin market is displaying stability, drawing investor attention worldwide.
