December 12, 2024, over $1.76 billion has been wiped out from the global crypto market. In the last 24 hours, 584,000 traders closed their positions in multiple cryptocurrencies including BTC, ETH, SOL, and XRP. This large liquidation comes as Bitcoin surges above $100K once again. After reaching the most awaited milestone, BTC price pulled back to around $94.3K, currently trading at $97.6K. That sparked discussions in the crypto community about the reasons behind Bitcoin’s sudden drop.
While some crypto experts believe the retreat is a profit-taking opportunity, others believe macroeconomic factors such as upcoming U.S. CPI data, that set to be released Dec 13. Despite this, Bitcoin’s long-term outlook remains bullish, with predictions of a potential rise to $250K by 2025, and the global crypto investor base expected to grow significantly.
While the pullback has sparked speculation, decentralized trading platform NuDEX has stepped into the spotlight with the launch of its “Bullish Trading Odyssey” testnet competition, which is scheduled from December 16 to December 23. Further, the competition offers participants a chance to win from a $5,000 USDT prize pool, with bonuses for early trades and top performers. Even users can connect their wallets and claim test tokens.
NuDEX Combines Speed, Security, and Decentralization
Powered by the GOAT network and Zero-Knowledge MIPS technology, NuDEX addresses issues like slippage fees and limited trading options while ensuring speed, security, and privacy. By blending centralized exchange efficiency with decentralized principles, NuDEX aims to redefine the trading experience.
As the industry gears up for advancements like AI-driven trading and wider adoption of Layer 2 solutions, NuDEX is ready to set new standards in decentralized trading, offering enhanced security, speed, and multi-chain fluidity.
