Kyrgyzstan has experienced a significant decline in cryptocurrency mining tax revenue, with a more than 50% drop in 2024 despite increasing crypto valuations. The country’s mining taxes contributed over 46.6 million Kyrgyzstani soms, or $535,000, to the economy this year, a notable decrease from the $1 million collected in 2023.
In the United States, Bitcoin exchange-traded funds (ETFs) managed to attract substantial inflows, marking a recovery after a four-day period that saw over $1.5 billion in outflows. On December 26, the ETFs saw net inflows of $475.2 million, led by Fidelity Wise Origin Bitcoin Fund, which took in $254.4 million. The ARK 21Shares Bitcoin ETF and the iShares Bitcoin Trust ETF followed with inflows of $186.9 million and $56.5 million, respectively.
Meanwhile, prediction markets Kalshi and Polymarket forecast a promising year ahead for cryptocurrency, with 2025 anticipated as a record-setting year for the sector. Speculators are optimistic about both Bitcoin and Ether reaching unprecedented highs. Kalshi’s predictions indicate a more than 60% probability that Bitcoin will top $125,000, while Ether is expected to achieve $5,000.
Traders on Polymarket are also predicting that US regulators may soon approve several cryptocurrency ETFs covering assets such as XRP, Solana, and Litecoin. Additionally, Kalshi suggests a 59% likelihood that President-elect Donald Trump might establish a strategic Bitcoin reserve, highlighting intensified interest around the cryptocurrency market.
Prediction markets gained significant attention during the recent US presidential election, amassing a trading volume exceeding $4 billion, underscoring a growing engagement in forecasting major events within the industry.
