In 2024, crypto scams soared, with reported losses reaching $9.3 billion, a 66% increase from the previous year. This surge eroded investor confidence, triggering price declines in major cryptocurrencies. Bitcoin dropped 3.2% to $66,300, while Ethereum fell 2.8% to $2,380. Trading volumes spiked, with BTC seeing an 18% increase. AI-related tokens, like Fetch.ai, also suffered, reflecting a broader downturn. The bearish market sentiment prompted increased automated sell orders and a notable rise in stablecoin trading volumes. Technical indicators reinforced the bearish trend, highlighting the need for traders to monitor support levels amidst this challenging environment.
Crypto Scams Double in 2024: $9.3 Billion Lost by Americans, Up 66% from 2023 | Flash News Detail
