Table of Contents
Welcome to today’s crypto overview:
MARKETS
The price of BTC has fluctuated like a roller coaster in the past week, since it began to fall from above $ 43,000. That culminated a few days ago with a drop below $ 33,000, which became the lowest price tag since the end of July 2021.
At that moment, however, the asset reacted well and began to regain some of its lost positions. This resulted in a rapid rise in price to $ 37,000 before the bulls began another phase of growth, in which the cryptocurrency touched $ 39,000.
However, after the Fed meeting on its interest rates, BTC fell again by several thousand dollars to a level of around 35,500 USD. Another similar drop in price occurred in the past 24 hours before BTC fired at $ 37,500. The Bears halted this stage of growth and knocked the asset down to its current position of around $ 36,500.
Most altcoins today are atypically stable with smaller losses. Ethereo failed to cross the $ 2,500 mark, and a subsequent refusal knocked him down to just under $ 2,400.
BTC Analysis – Is the Price Reaching $ 30,000? The correction is still ongoing
Polygon analysis – correction continues. Which support will find the bottom price?
Cryptocurrencies
Smart contracts on the cardano platform have reached a thousand milestones
In September 2021, the cardano (ADA) network underwent a major upgrade that included smart contract features, increasing the scalability and speed of the ADA.
Since then, the Plutus platform (a platform for smart contracts on the cardano platform) has grown significantly, reaching a milestone in 1,000 contracts in just four months. As of January 27, the total number of Plutus scripts in the cardano network is 1003.
Whales have bought 60,000 BTC in the last two months and have added 1.7 million BTC in the last five years
According to the popular on-chain data supplier Santiment, large BTC whales continue to amass this flagship cryptocurrency. This time, the company shared a report on BTC whales holding at least 100 BTC in their wallets.
According to another source, these wallets with more than 100 BTC hold a staggering 3.9 million BTC (almost 21% of all BTCs in circulation).
During the last two months, when BTC declined relatively quickly, owners of wallets with more than 100 BTC continued to accumulate the leading cryptocurrency. They have added approximately 60,000 BTC since December, equivalent to $ 2,200,026,000 at the current exchange rate of $ 36,592. In the last five years since 2017, these whales, according to a Santiment report, have received 1.7 million BTC, including the aforementioned 60,000 coins.
Texas governor is asking BTC miners for help
Texas Governor Greg Abbott is pushing BTC miners to stabilize the power grid as he fights for his re-election. He believes that BTC miners could help solve another energy crisis in the state. This is not the first time the Texas governor has spoken positively about BTC. Texas has become one of the cryptocenters in the United States in recent years and could continue to do so in the coming years.
Governor Abbott believes that by inviting BTC miners to the state, it would be possible for electricity providers to invest in new infrastructure projects. This is something that would benefit not only the BTC miners in the state, but also its inhabitants. Let us not forget that in recent years there have been several power outages due to insufficient investment by companies.
Banks, crypto exchanges, companies
Qubit Finance suffered a $ 80 million loss after the hacking attack
Hacker attacks are becoming more frequent in the crypto market, and Qubit Finance is one of the latest decentralized finance (DeFi) protocols that has been exploited by hackers.
Hackers have been able to gain access and steal more than $ 80 million from Qubit Finance, which is based on the Binance Smart Chain. The protocol confirmed this via tweet on Friday. The addresses associated with the attack stole 206,809 BNB from Qubit’s QBridge protocol. The value of the assets is more than $ 80 million.
Did @QubitFin just get hacked for $80M? Check out this address: https://t.co/1Oao54Ndnb
— claudeshannon.eth ⛽️ (@0xclaudeshannon) January 27, 2022
According to PeckShield, which analyzed Qubit’s smart contracts, QBridge was hacked to create a “huge amount of xETH collateral”, which was then used to drain the entire amount of BNB stored on QBridge.
Launch of the first DEX on Internet Computer, more will come soon
The first decentralized exchange on the Internet Computer blockchain of the Dfinity Foundation was launched this week following a recently released new whitepaper. And according to information, two more exchanges are already being worked on.
The first version of the new DEX called Sonic was launched on the mainnet on Sunday. Initially, there are only three token exchange pools using its native Internet Computer Protocol (ICP) token: ICP / WICP (wraped ICP), ICP / XTC (Cycles Token), and WICP / XTC. Users can also receive liquidity rewards.
Sonic, the first DEX to launch on the Internet Computer, is now live.@sonic_ooo offers a suite of DeFi products for the #InternetComputer blockchain, operating on a gasless AMM. 🚫⛽️
DeFi on the IC has arrived. 🚀 https://t.co/IjClg4LRxo pic.twitter.com/CH3f3qgIVM
— DFINITY (@dfinity) January 22, 2022
Dfinity Communications Manager Michael Less said Sonic plans to redefine what it really means to be an example of DeFi. Sonic finalizes transactions in under one second and runs entirely on IC’s public blockchain network without any gas charges.
CBDC, Regulation
The Chinese food giant joins the CBDC’s efforts
The Chinese food delivery giant Meituan has become the latest company to integrate central bank (CBDC) digital currency payments for its services.
Meituan users can link a digital yuan wallet to their service application and use it for a variety of day-to-day services, such as hotel reservations, taxis and restaurant payments. The food delivery and day-to-day service applications recorded 660 million transactions last year, and the integration of e-CNY payments would only help the Beijing government in testing its digital currency more widely.
In the last few months, major technology giants in the country, such as WeChat and JD.com, have joined the mass testing of e-CNY in retail.
- CryptoQuant Analyst: Bitcoin Nowhere Near Its Peak – Buckle Up, Hodlers! - December 21, 2024
- Chainalysis: $2.2 Billion Lost to Crypto Hacks in 2024 - December 21, 2024
- Bank of Japan leaves interest rate unchanged: Impact on the macroeconomy and the crypto market - December 20, 2024
