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Crypto’s comeback: Triumph over turmoil in 2024

Bitcoin crossed $100K, marking a bullish year. Still, legal battles, regulatory crackdowns and poor decisions tested the industry.

The crypto industry experienced a remarkable resurgence in 2024, fueled by a Bitcoin bull run that pushed BTC’s market price above $100,000, restoring investor confidence and delivering substantial returns across the crypto market.

Amid the numerous significant milestones achieved throughout the year, it is easy to overlook the major challenges that industry players and investors faced and successfully navigated.

The cryptocurrency industry has demonstrated consistent resilience over the years, meeting challenges such as bad actors, ecosystem collapses, bear markets, legal disputes and geopolitical uncertainties. This adaptability positions the industry for continued evolution and potential disruptions in the future.

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Japan’s DMM Crypto shuts down Seamoon Protocol amid challenges

Just a few months ago, it was thinking about issuing a stablecoin. Now, it's unsustainable. 

Japan’s DMM Crypto is discontinuing its Seamoon Protocol. No new services will be added to the ecosystem, and the fate of existing services on the platform is under discussion, the company announced.

The Seamoon Protocol was powered by the SMP token in the DM2 Verse on the Oasys layer-2 blockchain. The Seamoon Portal was a Web3 gaming and content site that featured games and anime produced by Japanese e-commerce and internet group DMM.com.

In August, DMM Crypto was working with stablecoin platform Progmat to issue its own stablecoin for use alongside fiat and credit cards to enhance the financial prospects of the ecosystem. However, according to a translation of a DMM Crypto statement published by Japan finance blogger Norbert Gehrke:

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Altcoins Close to the End of a Market Correction, According to Trader Michaël van de Poppe – Here’s His Timeline