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17.01.[News of the day] • Crypto.com suspends withdrawals due to “suspicious activity” • and other articles

5 min read

Welcome to today’s overview:

MARKETS

A weekend before, the primary cryptocurrency fell $ 2,000 to a minimum of $ 42,000 after it failed to recover $ 44,000. As the bears tried to cause more mass pain, it was the turn of the bulls.

Within hours, they drove the asset north to over $ 43,000 on Saturday. On Sunday morning, the landscape seemed even more positive as it jumped to just over $ 44,000. But as has happened in several previous attempts to cross that line, the BTC has failed. It has fallen by several thousand dollars and has remained below $ 43,000 since then.

ETH has recently been closely mimicking BTC’s performance, including falling below $ 3,000 last Monday. In the following days, the second largest cryptocurrency jumped more than $ 400 before the gloomy sentiment knocked her south again. In just the last 24 hours, ETH has dropped 1.6% and is now around $ 3,250.

BTC analysis – the price still does not signal the bottom of the correction. Will continue to grow?

Polygon analysis – the price continues to rise in the flag towards $ 2.60

Cryptocurrencies

Tonga accepts donations in Bitcoin

The Kingdom of Tonga experienced a pressure wave of the massive eruption of Hunga Tonga-Hunga-Ha’apai on Friday. The first eruption was followed by others, and the people of Tongatapu, the main island of Tonga, had to face a tsunami.

In the midst of these difficulties, cryptocurrency holders have expressed their sympathy and intention to donate Bitcoin (BTC) to help with rescue operations. Twitter user onair_blair has called on BTC supporters and former Tongan lawmaker Lord Fusitua to set up a wallet address where people can donate BTC for funds to help the state.

Lord Fusitua responded with a BTC wallet address and a link where people can help. A total of 0.10794983 BTC (4625.29 USD) has arrived at this address since yesterday.

The whale withdrew a $ 40 million XRP from Binance

As Ripple scores in court, more and more traders and investors are gaining more confidence in the XRP, which is reflected in a number of large transactions made from various centralized exchanges.

A few hours ago, a transaction appeared on the network in which an unknown trader moved $ 40 million off the exchange. The address ending in “t6JPxr” currently owns an incredible 520 million XRP coins, which it has been selling since November. The wallet address was not flagged.

Various transactions from Binance kept coming to this address, which led some users to believe that it was somehow connected to the centralized exchange and used for internal transfers.

Banks, crypto exchanges, companies

Walmart files 7 U.S. patents investigating the potential monetization of the NFT and Metaverse

Retail giant Walmart has filed several patents with the US Patent and Trademark Office (USPTO) seeking to register a number of services and offers related to metaverse, NFT and cryptocurrencies.

Holly Lar, Walmart’s chief intellectual property consultant, has filed a total of seven related applications on behalf of the retail giant. CNBC was the first to report on the news late Sunday night.

According to applications filed on December 30, Walmart is exploring the opportunity to introduce its customers to “virtual currency for use by members of the online NFT community” as well as “financial transaction services including cryptocurrencies, NFT and blockchain technology.”

Crypto.com suspends withdrawals due to “suspicious activity”

Crypto.com platform temporarily suspends withdrawals after “a small number of users reported suspicious activity on their accounts”, but all funds are said to be safe at the moment.

A few hours ago, Crypto.com stopped withdrawing from its platform in response to several “thefts” of customer accounts. Dogecoin founder (DOGE) Billy Markus noticed a suspicious pattern of transactions on Etherscan, which forced the company to stop all transactions until find out what was going on with their platform.

Ben Baller, a cryptocurrency enthusiast and jeweler, claimed that his account had been compromised and lost $ 4.28 (about $ 15,000). Ben also said he used two-factor authentication, so the alleged perpetrators had to bypass some of Crypto.com’s security features.

CBDC, Regulation

70% of Jamaica’s population will receive the CBDC within five years, the prime minister says

The central bank’s digital currency (CBDC) became a hot topic in Jamaica when the country’s central bank successfully completed its first pilot test in early January. Following the tests, the country’s Prime Minister Andrew Holness confidently spoke about the acceptance of the CBDC in the country.

Holness predicted that the majority of Jamaica’s population would quickly adopt the digital currency and that more than 70% of the population would use the CBDC within five years. In an interview with Bloomberg, the Jamaican Prime Minister emphasized the reduction of bank costs and the inclusiveness of the CBDC, adding that the digital currency will ensure greater accountability of the government through easier monitoring of public resources.

While acknowledging the initial problems associated with the nationwide launch of the CBDC, scheduled for the first quarter of 2022, Holness added that the government must “figure out how to give people access to digital devices and the Internet in general.”

The Singapore authorities are trying to suspend and stop public advertising related to cryptocurrencies

The Singapore regulator is trying to restrict cryptocurrency operators from advertising their services in the country to the general public. The Singapore Monetary Authority (LAG) has issued new guidelines in a press release aimed at stopping retail speculation on various assets that are known to be volatile.

As a result, the LAG stated that previous advertising channels, such as online platforms, physical advertising and the provision of physical ATMs (ATMs) in public places, would no longer be used.

Entities should only advertise on their websites, mobile apps, or official social media accounts. Despite the ban, the LAG said it still supported the innovative aspect of blockchain technology.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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