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Let’s check out what were the most important news and trends on the crypto market in December.
These were the most important developments in crypto in December 2023.
The US Bitcoin ETF approval saga has entered its decisive stage. Analyst predict that the SEC will finally approve some or even all the submitted BTC ETF applications in January 2024. Bitcoin spot ETF applications have been submitted by some of the largest international investment funds like Fidelity, BlackRock, and Grayscale. The SEC has recently required applicants to submit additional documentation and edit their current applications, which hints at a possible approval of BTC ETFs.
The bull market is definitely back and during December we have seen massive price increases all across the board, with altcoins like Solana, Injective, Celestia and other top blockchains leading the charge. Bitcoin is of course leading the market by smashing through the 40,000 USD threshold in early December and blasting its way into 2024 with a 42,000 USD price tag. Judging by the December price action, the bull market is just getting started.
In line with the BTC ETF hype and the start of the crypto bull market, the inflow of investment capital into crypto is also ramping up. Funding has particularly increased in the Layer-1 and Layer-2 blockchain segments, with the rising prominence of newly launched blockchains like Arbitrum whose total value locked is skyrocketing. Also, there is a massive inflow of capital into veteran ecosystems such as Solana, which is boasting more than 2500 active developer teams during the last month.
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This content does not constitute investment advice, financial advice, trading advice or any other type of advice and should not be considered as such; zondacrypto does not recommend buying, selling or owning any cryptocurrency. Investing in cryptocurrencies involves a high degree of risk. There is a risk of losing invested funds due to changes in cryptocurrency exchange rates.