24.01.[News of the day] • Michael Saylor expresses no concerns about more “cryptowinter” • and other articles5 min read
Welcome to today’s overview:
BTC traded above $ 43,000 last week before the situation changed and the Bears came in. Over the next 24 hours, the cryptocurrency fell by $ 5,000 to a six-month low of about $ 38,000.
Even though this was a massive correction, the asset headed even further south. BTC fell to its lowest price position since the end of July 2021 to around $ 34,000 on Saturday.
He lost almost $ 10,000 in a few days. Sunday seemed more optimistic as BTC regained part of its position and at one point even exceeded $ 36,000. However, it turned out to be a fake breakthrough. Since then, BTC has lost nearly $ 3,000 and is now well below $ 35,000.
The Altcoins have also suffered recently, trying to recover briefly yesterday. But now the red has taken over again. ETH remained above $ 3,300 on Thursday before a market-wide correction cut the second-largest cryptocurrency by $ 1,000. Yesterday, the ETH bounced back above $ 2,500, but another 8% drop since then brought it below $ 2,400.
BTC analysis – will the price drop to $ 30,000, or will it bounce sooner?
Dogecoin analysis – the correction still does not end and the price is 80% below ATH
The number of babydoge holders rose to a new record – 1.325 million
WhaleStats has announced that the babydoge community has set another record. The number of wallets with this trending cryptocurrency has climbed to a new all-time high of 1,325,042.
This is a significant increase from the record of 1,205,517 holders reported by U.Today on January 15. The community is still growing rapidly, as more and more investors are supplying this dog cryptocurrency.
According to this metric, babydoge outperforms shiba inu holders for a total of 1,155,141 as of January 23, despite the higher price of SHIB and its wider awareness and acceptance. In addition, unlike babydoge, shiba inu is quoted on many large cryptobourses.
Michael Saylor Expresses no Concerns About Another “Cryptowinter”
The price of BTC is falling, but Michael Saylor has rejected any indications that he would be afraid of potential “cryptowinter.” MicroStrategy’s CEO remains as optimistic as ever, stressing that “no one has ever lost money while holding a BTC for four years.”
The comments were made in an interview with Emily Chang on Bloomberg’s Studio 1.0. Both covered a number of topics during the twenty-minute interview, including the dot come bubble and Saylor’s early life and love of science fiction.
For the crypt supporters, it was the culmination of the conversation when Chang asked Saylor if she felt the chill of a potential cryptowinter. Saylor made it clear to the moderator that he was playing a longer game.
Banks, crypto exchanges, companies
Phantom overtook Binance Smart Chain in DeFi TVL
The phantom overtook the Binance Smart Chain (BSC) and became the third largest blockchain in decentralized finance (DeFi) measured by total lock-in value (TVL), according to DeFiLlama.
Fantom’s TVL is out of line with the downward trend in the global cryptocurrency market, rising more than 60% to $ 12.2 billion over the past week (at the time of publication). Phantom is an open-source smart contract blockchain that now hosts 6.15% of approximately $ 200 billion in DeFi activities.
Last May, the BSC controlled more than 20% of TVL behind the rise of the decentralized exchange (DEX) PancakeSwap, but has now fallen to 6.05%.
Fantom’s native token for FTM utilities and management over the past month reflected much of that growth, but according to CoinMarketCap, it also lost a recent sell-off in the market, losing 40% over the weekend and trading at $ 1.80 at the time of printing.
The Bank of Korea has completed the first phase of a digital currency pilot project
The Central Bank of Korea has successfully completed the first phase of a trial operation of the digital currency, which began in August 2021.
The South Korea’s central bank said the first phase of its CBDC testing was completed in December, while the second phase was ongoing, the YNA news agency reported. The first phase of the test covered some basic functions of a sovereign digital currency, such as distribution and issuance.
The second phase of the CBDC digital currency pilot project should test real-world features such as cross-border transfers, retail payments and offline payments.
China’s central bank is expanding its search for talent in the field of digital currencies
The Shenzhen Institute of Financial Technology, a subsidiary of the People’s Bank’s Digital Currency Institute, has published 132 job offers, indicating the expansion of the digital yuan pilot programs in 2022.
In September last year, Guangzhou, Tianjin, Iwu and Fuzhou announced their bids for inclusion in another group of digital yuan pilot cities.
The digital yuan, or e-CNY, which is described as the most advanced digital currency of the central bank (CBDC) established by a major world economy, has been tested in 10 pilot cities and venues at the Beijing Winter Olympics.
India: The draft crypto-law is unlikely to come to budget at a parliamentary session
Although the Indian crypto-industry is hoping for regulatory clarification when the 2022 budget comes, it is unlikely that the law will be introduced on February 1, according to local media reports.
AMBCrypto spoke with Sidharth Sogani of CREBACO to understand what stage the bill is at. According to the CEO, the bill is unlikely to get into parliament during this budget session because “it is not ready yet”.
Local media reports also suggest that the government needs more time to discuss the complex issue of cryptocurrencies and DeFi. Also last year, the much-anticipated bill did not reach the House during the Indian Parliament’s winter session, which began on November 29 and ended on December 23. This was the second time the bill had been postponed.