The total market value of cryptocurrencies has seen a positive shift over the past 24 hours, recovering some of the recent losses. Bitcoin has experienced a notable increase of 5%, reaching a price of $98,022 and is approaching the critical resistance level of $100,000. Similarly, Ethereum has risen by 4%, now priced at $3,493. Overall, the total market value of cryptocurrencies has surged by $91 billion, hitting $3.35 trillion, with altcoins also showing significant growth.
Binance has announced its support for the swapping of Phantom tokens to Sonic. According to the announcement made on January 13, 2025, all Phantom trading pairs, including F dust, fusk, and FM, will be delisted from the platform, and all open orders related to these pairs will be canceled. Trading for the new Sonic pairs is set to begin on January 16, 2025, which will include pairs such as stust, s/usdc, and SSD.
Ripple faced a significant decline of 19% last week after experiencing a remarkable growth of 468% in November. Its value decreased to $2.30, leading to a drop in market capitalization from $152 billion to $132 billion. Experts suggest that this decline is not due to internal issues but rather a response to recent decisions by the Federal Reserve, which has increased its inflation forecast for 2025 from 2.1% to 2.5%. Despite this setback, the outlook for Ripple in 2025 remains positive, especially with the new U.S. administration expected to adopt a favorable stance toward cryptocurrencies.
Authorities have confirmed that a North Korean hacking group was responsible for a $35 million cryptocurrency exchange heist. The FBI, Japan's National Police Agency, and the U.S. Department of Defense Cyber Crime Center have linked the attack to North Korean hackers who breached security at Japan's DMM Bitcoin exchange in May 2024. The hackers utilized sophisticated social engineering techniques to target an employee of Jenko, a cryptocurrency wallet software company, by impersonating a recruiter on LinkedIn and sending a malicious Python script as part of a pre-employment test. This breach allowed them to access Jenko's unencrypted communication system, ultimately leading to the theft of 452 bitcoins, valued at $35 million. Following the incident, DMM Bitcoin has suspended withdrawals and cash transactions.
Q: What recent trends have been observed in the cryptocurrency market?
A: The total market value of cryptocurrencies has increased by $91 billion, reaching $3.35 trillion. Bitcoin has risen by 5% to $98,022, while Ethereum has increased by 4% to $3,493.
Q: What is the announcement made by Binance regarding Phantom tokens?
A: Binance announced the swapping of Phantom tokens to Sonic, with all Phantom trading pairs being delisted on January 13, 2025. Trading for new Sonic pairs will begin on January 16, 2025.
Q: What caused the recent decline in Ripple's market value?
A: Ripple's value decreased by 19% after a significant growth of 468% in November, dropping to $2.30. This decline is attributed to the Federal Reserve's increased inflation forecast for 2025.
Q: What incident involved a North Korean hacking group and cryptocurrency?
A: A North Korean hacking group was responsible for a $35 million cryptocurrency exchange heist, breaching security at Japan's DMM Bitcoin exchange and stealing 452 bitcoins through social engineering tactics.
