Cryptocurrency market today, December 2: Bitcoin forecast to drop sharply

(NLDO)- The greatest value of the On-chain Alliance for IFC-HCM lies in opening up a space for experimentation - innovation - application.

On the evening of December 2, the cryptocurrency market had mixed developments. Data from the OKX exchange showed that in the past 24 hours, Bitcoin increased slightly by 0.2, reaching 86,910 USD.

BNB rose more than 1% to $835, while Ethereum and XRP fell more than 1% to $2,800 and $2, respectively. Solana fell slightly by 0.2% to $127.

Bitcoin forecast to drop sharply

According to Cointelegraph , US stocks are expected to continue to rise thanks to forecasts that the US Federal Reserve (Fed) will cut interest rates in December and next year.

However, Bitcoin is going against the trend. Bloomberg expert Mike McGlone warned that Bitcoin price could fall to around $50,000 because the market is too confident and less volatile, potentially posing a risk of correction.

Bitcoin is trading in the $86,900 region Source: OKX

The greatest value of on-chain alliances

Associate Professor Dr. Nguyen Huu Huan, member of the Secretariat for the Advisory Board of the Steering Committee for the construction and development of the Vietnam International Financial Center in Ho Chi Minh City, said that the establishment of the On-chain Economic Alliance plays an important role as a turning point for the Vietnam International Financial Center in Ho Chi Minh City (IFC HCMC).

The greatest value of the On-chain Alliance for IFC-HCM lies in opening up a space for experimentation – innovation – application that previous markets often take many years to form.

Here, models such as digital bonds, on-chain investment funds, real estate assetization, carbon credits or cross-border payment systems can be tested in a systematic and supervised manner.

Once the product has proven its technological and market effectiveness, it can be expanded to a national scale. This helps Vietnam avoid the risk of being "left out of the game" while still ensuring the safety of the traditional financial system.

According to Associate Professor Dr. Nguyen Huu Huan, when technology enterprises, research institutes, universities and international corporations work together in a common on-chain ecosystem, a new generation of experts in digital finance, blockchain and market operations will be formed.

This is not only a force serving IFC-HCM, but also a strategic human resource for the entire Vietnamese digital economy.

For the long-term vision, the On-chain Alliance also opens the door for Ho Chi Minh City to build a comprehensive on-chain economy, an economic structure where assets, transactions, data and markets are all operated on a transparent, high-speed and cross-border integrated platform.

It's not a far-fetched prospect, as it's happening in Singapore (Project Guardian), Dubai (VARA) and the UK (FCA Sandbox).

"A financial center not only transacts capital, but also generates knowledge, creates technology and shapes new operating standards for the future on-chain economy" - Associate Professor, Dr. Nguyen Huu Huan emphasized.

Source: https://nld.com.vn/thi-truong-tien-so-hom-nay-2-12-bitcoin-du-bao-giam-manh-196251202180244092.htm