FOMC

Synthetix

Bonk

Avalanche

<h2 id="span-data-font-font-size-style-font-size-20px-the-cryptocurrencies-with-the-steepest-declines-in-the-last-24-hours-br-span">The cryptocurrencies with the steepest declines in the last 24 hours. </h2>
TOP 5 Losers Coins
<table class="table border text-center table-bordered data-table">
 <thead>
 <tr>
 <th class="border-0">Indices</th>
 <th class="border-0">LTP</th>
 <th class="border-0">Change (%)</th>
 </tr>
 </thead>
 <tbody>
 <tr>
 <td>Bonk</td>
 <td class="text-black">$0.000009596</td>
 <td class="text-danger">27.68%</td>
 </tr>
 <tr>
 <td>Avalanche</td>
 <td class="text-black">$35.27</td>
 <td class="text-danger">16.72%</td>
 </tr>
 <tr>
 <td>Synthetix</td>
 <td class="text-black">$4.04</td>
 <td class="text-danger">15.87%</td>
 </tr>
 <tr>
 <td>MultiversX</td>
 <td class="text-black">$58.37</td>
 <td class="text-danger">13.45%</td>
 </tr>
 <tr>
 <td>BitTorrent</td>
 <td class="text-black">$0.000001246</td>
 <td class="text-danger">12.03%</td>
 </tr>
 </tbody>
</table>
<h3 id="span-span-data-font-font-size-style-font-size-18px-crypto-news-key-highlights-span-span">Crypto News Key Highlights:</h3>
<ul>
 <li>The US CPI rose 0.1% in November, surprising economists expecting stability at 3.1% YoY. Santiment predicts short-term crypto volatility. Despite 11 rate hikes since March 2022, policymakers signal the end of tightening, potentially paving the way for cuts. Futures hint at minimal hikes, with an initial cut in May. While aggressive easing is projected for 2024, survey envisions a more measured approach, with around three quarter-point cuts by the Fed. </li>
 <li>The US Federal Reserve is anticipated to maintain the current 5.25-5.50% policy rates after its two-day meeting on December 13. Despite inflation exceeding the 2% target, the Fed is expected to remain hawkish. Market expectations lean towards potential interest rate cuts in the second half of 2024, but the Fed emphasizes data dependence in its monetary policy. Experts currently don't foresee rate hikes but rule out rate cuts in the near term.The CME FedWatch tool indicates a 98.2% probability of a rate pause at the upcoming <a href="https://www.coingabbar.com/en/crypto-currency-news/crypto-update-dec-cryptos-on-brink-fomc-drama-adds-suspense" class="f-link" rel="noopener noreferrer nofollow">FOMC</a> meeting tomorrow. </li>
 <li>Decentralized exchange OKX experienced a significant exploit, resulting in hackers stealing over $400,000 from user accounts. The attack targeted an abandoned OKX DEX market maker contract, compromising assets from 18 authorized addresses. OKX swiftly deactivated affected contracts, pledging compensation for affected users and initiating a comprehensive security examination. The exchange continues to gain market share amid industry developments. </li>
 <li>Binance and ex-CEO Changpeng Zhao responded to the SEC's bid to incorporate the $4.3 billion DOJ settlement into their case. Binance deems the SEC's move improper, citing the introduction of irrelevant information and lack of support for the initial June 2023 lawsuit. The company argues the SEC is leveraging other agencies' resolutions without clear regulatory authority. The case's resolution rests on the SEC justifying charges against Binance for operating unregistered securities exchanges amid calls for US securities laws amendments. </li>
 <li>Major financial players, such as BlackRock, Fidelity, Franklin Templeton, and Grayscale, are in talks with the U.S. SEC to get approval for the first <a href="https://www.coingabbar.com/en/crypto-currency-news/sec-and-grayscale-meets-to-discuss-spot-bitcoin-etf-listing" class="f-link" rel="noopener noreferrer nofollow">spot Bitcoin ETF</a> in the U.S. Discussions have heated up, and there's a chance the SEC decides before January 10, 2024. Analysts think the SEC might approve several spot ETFs at once to avoid favoring one. If the SEC hints at approval, the market expects a positive impact on Bitcoin prices. </li>
 <li>El Salvador's $1 million Freedom Visa program, launched on Dec. 7, has received significant interest with hundreds of inquiries. In partnership with Tether, the initiative offers citizenship to 1,000 individuals for a $1 million Bitcoin or Tether donation. The National Bitcoin Office expects a sellout by year-end, defending the price and highlighting El Salvador's pro-Bitcoin policies. Critics, like Altana Digital Currency CIO Alistair Milne, deem it expensive compared to alternatives like Malta, but President Nayib Bukele's favorable Bitcoin stance may still attract enthusiasts. </li>
 <li>The U.S. <a href="https://www.coingabbar.com/en/crypto-currency-news/approval-of-sec-for-spot-bitcoin-etf-is-hopeful-for-future" class="f-link" rel="noopener noreferrer nofollow">SEC</a> has served a lawsuit to HEX founder Richard Schueler, also known as Richard Heart, at his residence in Helsinki, Finland. The SEC alleges Heart made over $1 billion selling unregistered securities and defrauded investors, using funds for personal luxuries. Heart's whereabouts have been elusive, but he remains active online. HEX has significantly declined in value. </li>
</ul>
Also read - <a href="https://www.coingabbar.com/en/crypto-currency-news/crypto-update-dec-cryptos-on-brink-fomc-drama-adds-suspense" class="f-link" rel="noopener noreferrer nofollow">24 Crypto Update, 12 Dec: Cryptos on Brink, FOMC Drama Adds Suspense</a>

Crypto Daily Roundup, 13 Dec: Cryptos Dance on the Edge Amid FOMC Dip

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