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This Week in Crypto

20.01.24



21.01.24


  • Dodgecoin hits 7-day high as “XPayments” account gains 100K followers in a day

  • The ETH ecosystem is edging closer to significantly lower gas fees and faster transaction speeds for layer-2 rollups as the Dencun upgrade hits the network’s three testnets in early 2024.

  • The Virginia State Senate has introduced legislation that delineates regulations for the mining and transactions of digital assets and their treatment under tax laws.


22.01.24


  • Bitcoin falls to $40’000, lowest level since Bitcoin ETF launch.

  • Interoperability protocol Socket said Tuesday it has recovered 1’032 ETHs following an exploit last week. The exploit saw as much as $3.3 million stolen, according to blockchain security firm PeckShield

  • Nine new U.S spot bitcoin ETFs, excluding Grayscale’s converted fund, now hold over 100’000 BTC in AUM. Blackrock’s spot BTC ET (IBIT) leads with 40’213 BTC in holdings, followed by Fidelity’s FBTC with 34’152 BTC.


23.01.24


  • Blackrock’s head of ETFs says they have seen a major influx in Bitcoin interest and it has traded $3.5 billion since launch.

  • Russia and India have joined forces to promote digital economy initiatives as part of their expansion efforts within the BRICS alliance. 

  • US Senator Cynthia Lummis defends crypto assets, saying the real problem is bad actors in the industry and not the assets

  • Crypto investment firm Hashkey Capital and FTSE Russell, a London Stock Exchange subsidiary, today launched three indices that track crypto asset performance.


24.01.24


  • In an exclusive on-camera interview, Mathew McDermott, Global Head of Digital Assets at Goldman Sachs, explains what the approval of spot bitcoin ETFs in the United States means for the bank. 

  • Tesla’s Bitcoin Holdings Remain Unchanged in Q4. The holdings are valued at $387 million at current prices.

  • Hitting a record high in 2023, SEC enforcement actions against crypto firms have nearly doubled since 2021—the year Gensler took over.


25.01.24


  • Core Scientific returns to Nasdaq as Wall Street shows renewed love for bitcoin mining.

  • Bitcoin trims its losses after breaking below $39,000 to lowest level in 7 weeks.

  • SEC pushes back BlackRock’s spot ETH ETF decision.


26.01.24


  • Sygnum, a leading crypto banking group headquartered in Switzerland, has successfully closed a $40 million funding round, propelling its valuation to $900 million. The funding round was spearheaded by investment manager Azimut Holdings.

  • A recent analysis by financial services firm Cantor Fitzgerald has raised concerns among Bitcoin miners, suggesting that many may struggle to maintain profitability following the upcoming halving event.


Graph of the Week



Ever wondered where Bitcoin was 80 days before in the previous Halvings ? 


- In 2016, BTC was -62% below its ATH 

- In 2020, BTC was -52% below its ATH 

- In 2024, BTC is currently -42% below its ATH 


So, even if it seems like Bitcoin's price isn't moving much, it's following a similar pattern to previous cycles. 

Also, Its the same year when Bitcoin breaks its previous ATH


Source - 23.01.24



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