The Blockchain Bulletin, Dec 19: AISC Sues Binance Australia for Non-Compliance

Hey folks! Welcome back to our Blockchain Bulletin, where we explore the key incidents in the past 24 hours. The 18th of December witnessed major updates as Bitcoin stood steady above the $100k level for the fourth consecutive day.

Despite a temporary pause in its upward trajectory today, Bitcoin‘s remarkable surge past $108,000 has sparked widespread optimism among investors and analysts. Notably, Bitfinex analysts have made a bold prediction, forecasting that the cryptocurrency’s target price will exceed $200,000. Experts pinpointed the bull run to global powers’ Bitcoin reserve strategy and growing institutional demand.

Amidst Bitcoin’s surge, altcoins like XRP have remained resilient. In November alone, XRP appreciated by 464%, increasing from a mere $0.51 to a high of $2.90 by December 3. In anticipation of continued momentum, analysts are setting their sights on the new target—$5.

Stablecoins were also strong during this bull run after the US elections of November. Tether (USDC), in particular, retained its dominance in the stablecoin market, recording a substantial daily net inflow of $40 million. In addition, Tether announced its strategic investment in European stablecoin provider StablR to accelerate adoption in the region.

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