There is a suppressed atmosphere in the cryptocurrency market today. Bitcoin (BTC) $95,058.7approached its monthly low, attracting the attention of investors. While a similar decline was observed in altcoins, the general course of the market reflected the bullish atmosphere.
Tether is in Danger in Europe
Stablecoin Tether (USDT), which stands out with its market value, is experiencing compliance problems with the new European Crypto Assets Market (MiCA) regulations. The deadline for compliance with the rules determined within the scope of MiCA was announced as 30 December 2024. However, Tether’s current structure brings with it the risk of being removed from European markets. Experts state that this situation creates uncertainty in the markets and makes investor decisions difficult.
Tether’s withdrawal from European markets means a major change in the stablecoin ecosystem. This may be especially effective in the liquidity planning of large cryptocurrency exchanges. Investors are considering turning to alternative stablecoins in this uncertainty.
FTX Token is on the Rise Again
FTX Token (FTT) attracted attention by recording a 7% increase in value today. This development came as FTX announced its $16 billion cash return plan. The company aims to start these refunds by January 2024. This move by FTX shows that it has regained investor confidence despite the problems it had previously experienced.
Investors are expecting a positive wave for the overall market following this activity in FTT. However, experts emphasize that it is important to closely follow the implementation stages of FTX’s plans.
What Does Market Data Say?
The global cryptocurrency market lost 1.5% in value in the last 24 hours, falling to $3.29 trillion. In contrast, daily transaction volume increased by 12%, reaching $90 billion. Bitcoin is trading at $93,400 while Ethereum (ETH) 
$3,399.6 It rose 1% to $3,421. XRP, on the other hand, decreased by 3% to $ 2.12.
While FTT was the biggest gainer of the day, Bitget Token (BGB) was recorded as the biggest loser, losing 20%. Investors take a cautious approach to these fluctuations in the market. The effects of regulations and the price movements of major cryptocurrencies stand out as critical factors that will shape the future of the markets.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
