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What determines Bitcoin’s price?
Bitcoin’s fixed supply is what first makes it unique. Only 21 million BTC will ever exist, and by November 2024, over 19.5 million had been mined. This built-in scarcity is why many consider Bitcoin “digital gold,” as prices go up when demand grows, but supply stays limited. It’s basic economics: Less supply plus more demand equals higher value.
In addition, one must consider the Bitcoin halvings, which tighten supply. The April 2024 halving, for example, cut mining rewards from 6.25 BTC to 3.125 BTC per block. These halvings occur every four years and limit how much new Bitcoin enters circulation. Past halvings triggered major price spikes, such as in 2020, when Bitcoin soared from $9,000 pre-halving to over $60,000 a year later.
However, in 2024, the effect was more gradual, with Bitcoin’s price climbing from around $45,000 in the winter lead-up to around $70,000 in May and $99,486.10 as of late November. The reduced supply pipeline is still tightening the market, with analysts expecting a delayed upward impact.
Indeed, demand isn’t just technical — it’s real-world. Several big players, including BlackRock, launched spot Bitcoin exchange-traded funds (ETFs) in 2024, pulling in institutional money and mainstreaming Bitcoin further.
Retail investors, using platforms like PayPal and Robinhood, also step up during bull markets, especially when FOMO returns during price rallies. Meanwhile, traders amplify short-term moves with speculative bets, feeding Bitcoin’s famous volatility.
Bitcoin’s limited supply and growing demand — driven by institutions, retail users and halvings — keep supply and demand at the heart of its price dynamics. Read More
Decentralized science is like early DeFi in 2019: Crypto VC
Mechanism Capital’s Andrew Kang said DeSci protocols will likely change their existing models before evolving into more market-ready products.
Decentralized science (DeSci) protocols are where decentralized finance (DeFi) was in 2019 — nascent and untested in the markets but possessing “massive potential,” an industry executive said.
“Everything is still raw, experimental, but there’s an underlying understanding [...] that there is massive potential,” said Andrew Kang, a founder and partner at crypto-focused venture capital firm Mechanism Capital, in a Nov. 24 post on X.
Kang said the DeSci projects are evolving and will likely change their models and products like DeFi protocols Maker, Synthetix and Aave did around 2019 before they expanded.
The DeSci projects Kang has found most interesting are BIO Protocol, Pump Science and GLP1.
BIO Protocol allows users to co-own “medicines of the future,” Pump Science’s platform allows trading of tokens tied to longevity medicines and GLP1 aims to “Make America Skinny Again.” Read More
FIFA, Mythical Games collaborate to launch blockchain game FIFA Rivals
Mythical’s CEO John Linden anticipates that FIFA Rivals could attract over 100 million gamers into the Web3 space.
Federation Internationale de Football Association (FIFA) and blockchain gaming studio Mythical Games have teamed up to launch FIFA Rivals, a free-to-play soccer game on iOS and Android.
Scheduled to be released in the summer of 2025, FIFA Rivals will allow gamers to manage their own soccer clubs and compete against other players in real-time arcade gameplay.
“Build your squad, dominate the competition, and create your legacy in the newest title,” Mythical said in its pitch to sports-loving gamers.
The company’s CEO, John Linden, said FIFA Rivals could attract over 100 million gamers given that its NFL Rivals game has already seen over 6 million players sign up from a far narrower audience.
To put things into perspective, around 5 billion people tuned into the FIFA World Cup in 2022, while roughly 500 million people watched the NFL playoffs last year. Read More
WisdomTree Files for XRP ETF After Ripple-Linked Coin Hits 3-Year High Price
Asset manager WisdomTree has filed for an XRP exchange-traded fund (ETF) in Delaware, the first step in the U.S. regulatory process.
New York asset manager WisdomTree is the latest firm to file for an XRP exchange-traded fund (ETF), amid optimism over the asset's future that helped drive it late last week to a price not seen since 2021.
The paperwork filed with the state of Delaware is the first step in getting such a product approved. WisdomTree will have to make the filing with Wall Street’s top regulator, the Securities and Exchange Commission (SEC) to get the process officially moving.
XRP is a digital coin created by the founders of fintech company Ripple. It’s the sixth-biggest digital asset by market cap and is used to move money across borders.
The asset has made headlines because the SEC has been involved in a lawsuit with Ripple since 2020, when it hit the firm with a $1.3 billion lawsuit. It alleged that Ripple and its founders sold unregistered securities in the form of XRP to raise money. Read More
Exploring The IndoEx Cryptocurrency Exchange The First Trading Platform To List The Markethive Token - Hivecoin
The IndoEx exchange aims to cater to a broad spectrum of investors, including newcomers, seasoned traders, and institutional investors, rather than focusing on a specific target audience like most crypto trading platforms. The platform's primary objective is to offer a robust and efficient infrastructure that enables seamless and rapid transactions of crypto assets.
As the IndoEx trading platform is the first crypto exchange to list Hivecoin, this article delves deeper into the platform, exploring it further to bring awareness to the Markethive community. Since its establishment in 2019, IndoEx has gained prominence in the alternative cryptocurrency trading sector due to its reasonable commissions, secure wallets, high trading volume, and fast transactions.
The trading platform, with offices in the United Kingdom and Estonia, provides close to 300 trading pairs, can be used in 150 different countries, and supports a range of cryptocurrencies, including popular ones such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Tether (USDT), and Ripple (XRP), as well as notable alternative coins like DASH, Chainlink (LINK), and Solana (SOL). Furthermore, it accommodates less mainstream coins and tokens like NEO, Cardano (ADA), and EOS, amounting to 180 cryptocurrencies. Users can exchange these coins for traditional currency or trade them with one another.
The platform provides users exclusive access to newly launched tokens through airdrops, giving them a head start in discovering and acquiring new tokens with the potential for long-term growth. Beyond trading, users can also benefit from receiving free tokens that may significantly impact the global market. Furthermore, the platform hosts trading contests and an initial coin offering (ICO) launchpad, offering crypto enthusiasts a comprehensive suite of features. Read More
Hash-based zero-knowledge tech can quantum-proof Ethereum — XinXin Fan
Google, Microsoft, Amazon, and IBM are some of the biggest companies currently researching and developing quantum computer technology.
Dr. XinXin Fan, the head of cryptography at IoTeX, recently co-authored a research paper titled Enabling a Smooth Migration Towards Post-Quantum Security for Ethereum. The research paper received a Best Paper award from the 2024 International Conference for Blockchain and argued that hash-based zero-knowledge technology is the most user-friendly way to quantum-proof the Ethereum network and other similar cryptographic systems.
In an interview with Cointelegraph, Dr. Fan explained that the elliptical curve digital signature algorithms (ECDSA) employed in current blockchain systems to sign transactions are quantum-vulnerable. However, this vulnerability can be addressed by attaching a hash-based zero-knowledge proof — such as a zero-knowledge scalable transparent argument of knowledge (zk-STARK) — to each transaction.
The researcher said this method also ensures the smoothest transition for users — avoiding the complexity of other proposed quantum-resistance methods. “The way we are implementing this allows the user to use their current wallet, but we attach each transaction with a zero-knowledge proof that is quantum-safe,” Dr. Fan said.
“We need to consider both the security aspect and also the usability aspect,” Dr. Fan continued. The researcher stressed that balancing user experience with security needs was key to ensuring a timely migration to post-quantum standards. Read More
Sui is growing due to great developer experience — Router CEO
The SUI token experienced a 115% month-over-month gain in October and continues to appreciate as it emerges as a Solana competitor.
The Sui blockchain ecosystem has experienced significant growth in recent months, and its native Sui token has seen a sustained rally alongside it. In an interview with Cointelegraph, Ramani Ramachandran, co-founder and CEO of Router Protocol, said this was due to a great developer experience and community in the Sui ecosystem.
Ramachandran said that Sui manages to combine the easy-to-use Move programming language with a simplified interface for end consumers, making the blockchain ecosystem attractive to developers. The CEO told Cointelegraph:
“The interesting thing about Sui was the founders are not as visible, but they are doing something right because developers are talking about them. A ton of developers are talking about how Sui is great — Sui is amazing.”
Ramachandran continued, “The community and vibes have been great,” and praised the Sui developer community as a sustainable ecosystem, positioning it as a counter to other alternative layer-1 projects that flounder following a token generation event. Read More
Russia Cautious on Tokenizing Real-World Assets
The Bank of Russia’s report highlights the potential benefits of tokenizing real-world assets but also emphasizes the need for a clear regulatory framework.
While tokenization has the potential to increase liquidity for real-world assets, among other benefits, a Bank of Russia report notes that Moscow’s legal framework for tokenization is still under development, limiting its full potential. Additionally, the report highlights the uncertainty surrounding the tax implications of tokenization, which could deter investors and issuers.
The Russian central bank’s report on tokenizing real-world assets comes as more countries explore the potential to expand the value of traditional assets. However, in its Nov. 22 report, the central bank emphasizes that there is currently no universally accepted definition or classification for tokenized real-world assets. Furthermore, it notes that countries adopting tokenization have yet to agree on a common regulatory approach.
In countries with developed digital markets, central banks are either establishing specific rules or adapting existing regulations. However, when a token represents ownership of a physical asset, additional infrastructure and regulatory adjustments may be necessary, the central bank said. Regarding Russia’s specific situation, the bank noted that:
The digital rights framework (including digital financial assets, utilitarian digital rights, hybrid digital rights) is most suitable for tokens in the Russian legislation. This enables the digitisation of various rights to objects even now. Read More
LimeWire adds decentralized file sharing feature with BNB Greenfield
LimeWire reenters the file-sharing space with a Web3 approach, launching a new feature powered by BNB Greenfield.
LimeWire, a peer-to-peer file-sharing site that was popular in the early 2000s, has reentered the space, debuting a decentralized file-sharing feature powered by BNB Greenfield.
In a news release sent to Cointelegraph, LimeWire announced a file-sharing product that allows users to send and receive encrypted files globally.
According to LimeWire, file sharing has always been at the heart of its brand, so reintroducing file sharing on its platform means blending its origins with updated capabilities.
BNB Greenfield is a decentralized storage infrastructure created by BNB Chain. The product is modeled to emulate traditional cloud storage solutions but applies Web3 technology for enhanced ownership and integrations for decentralized apps (DApps) and services.
Julian Zehetmayr, co-founder and CEO of LimeWire, said file sharing is part of LimeWire’s identity:
“As a pioneer brand of peer-to-peer networks, file sharing is in LimeWire’s DNA. [...] With this launch, we’re returning to our roots, reimagined for the modern era, and combining the power of AI with secure, decentralized file sharing for everyone.” Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
Featured Image Source: Pixabay
