Welcome to today’s overview:
It ended on a bearish note last week as a BTC correction reduced it from $ 48,000 to about $ 41,000 in a matter of days. The situation worsened on Monday as the cryptocurrency fell below $ 40,000 for the first time since September as part of another volatile move south.
However, it immediately bounced back and recovered more than $ 2,000 in a matter of hours. The BTC continued to move up yesterday, even briefly touching $ 44,000 after the US announced its highest inflation rates in 40 years.
After a brief retreat, BTC climbed above $ 44,000 to reach $ 44,250, the highest price tag since the correction began last Wednesday. Since then, however, the asset has failed to stay north of the border and stands just below it.
The Altcoins also fell sharply last week, but are now mostly in the green. ETH sank below $ 3,000 on Monday, but responded well and began to recover almost immediately.
BNB whale number 1 just bought 82,048 ETH
WhaleStats recorded a transaction initiated by the BNB whale in 1st place, which bought an incredible 82,048 ETH. That’s the equivalent of $ 277,499,463.
This user’s wallet has number 0xf977814e90da44bfa03b6295a0616a897441acec and the largest part of the cryptocurrencies is in Binance Coin (BNB): 77.81% worth USD 2,542,289,229.
🐋🐋🐋🐋🐋🐋🐋🐋🐋🐋 A BNB whale just bought 82,048 $eth ($277,499,463 USD).
Ranked #1 on WhaleStats: https://t.co/M6Nd6S3u0F
— WhaleStats – the top 1000 BSC richlist (@WhaleStatsBSC) January 13, 2022
The second largest coin here is DEXE: 21.48% with a total value of 701,911,520 USD. The total value of ERC-20 tokens here is 720,471,803 USD.
Dogecoin is now leading the Altcoin Rally market with 13% in the last 24 hours
The cryptocurrency altcoin rally continues and most tokens and coins are recovering from the New Year’s Eve correction, which has worsened the market correction.
According to CoinMarketCap, altcoin recovery rallies lead coins and tokens with a capitalization of more than $ 10 billion Dogecoin. Shiba Inu memetoken holds second place with 12% 24-hour growth, while Dogecoin holds first place with 13% price increase.
The sudden emergence of purchasing power in both cryptocurrencies was a pleasant surprise for investors from both communities, as there were no significant changes in the sentiment or intelligence background of these assets.
Banks, crypto exchanges, companies
Visa: Nearly a quarter of the world’s businesses will be open to digital currency payments in 2022
According to a Visa survey, almost a quarter of small businesses in nine countries said they planned to accept digital currencies as currency in 2022.
On the other hand, about three-quarters of companies contacted by Visa described the acceptance of new forms of payment as “essential” for their growth. Meanwhile, 13% of consumers in these countries said they expect more retailers to receive cryptocurrencies this year.
Visa conducted a survey of 2,250 small business owners in nine countries, including the United States, Brazil, Singapore, Canada, Germany, Ireland and Russia. In addition to 500 adults from each of the nine countries, 1,000 adults in the United States took part in the survey.
Pakistan’s central bank reportedly wants to ban cryptocurrencies
Pakistan State Bank (SBP) is reportedly seeking to ban all cryptocurrency transactions in Pakistan.
Pakistan’s Supreme Court in Sindh has reportedly held a hearing on the legal status of cryptocurrencies in the country, in which several Pakistani authorities, including the SBP, submitted a document to the court alleging that cryptocurrencies such as BTC are illegal and cannot be used for trafficking.
According to local news channel Samaa TV, the document cited at least 11 countries, including China and Saudi Arabia, that have decided to ban cryptocurrencies. Pakistan’s central bank has reportedly urged the court not only to ban cryptocurrency activities but also to impose sanctions on crypto exchanges.
Hong Kong is asking for feedback on a risk-based approach to cryptocurrency and stablecoin regulation
The Hong Kong Central Bank is asking the public for feedback on new regulatory measures aimed at reducing what it calls “significant risks to financial stability” posed by cryptocurrencies and stablecoins.
The Hong Kong Monetary Authority (HKMA), the country’s central banking institution, released a discussion paper on Wednesday outlining its position “in the face of growing acceptance” of this nascent asset class.
The document argues that the current size and business activity does not pose a “immediate threat” to the global financial system from a systemic point of view. Although the Bank recognizes that the increase in institutional acceptance of crypto assets, as an alternative or complement to traditional asset classes, it represents a growing link to mainstream finance.