Jamie Dimon, CEO of JPMorgan, called bitcoin a "pet rock" for the last time, warning investors to stay away from the cryptocurrency due to its involvement in financial crimes.
Bitcoin could see growth in auxiliary layer-2 networks to address its limitations, similar to Ethereum's architecture, as new projects and existing solutions like Lightning Network emerge, according to a report by Spartan Group and Kyle Ellicott.
Cryptocurrency industry leaders at the World Economic Forum in Davos express optimism about the growing acceptance and integration of digital assets in traditional finance, despite recent setbacks and regulatory challenges.
Bitcoin and Ethereum experienced some losses but remained above key price levels, while Siacoin was the top gainer and THORChain was the biggest loser in the past 24 hours, and U.S. initial jobless claims dropped to 187,000.
Coinbase, the leading cryptocurrency company, is facing challenges with flat or declining revenues, lack of diversification, and competition in its core trading service, while its side bets are also underperforming; its future growth hinges on the outcome of its legal battle with the SEC and the success of its offshore derivatives operation.
Crypto market maker Flowdesk has raised $50 million in a Series B round led by Cathay Innovation to expand its over-the-counter offering and regulatory coverage, following its recent entry as a liquidity provider for Grayscale's bitcoin ETF.
Stablecoins, cryptocurrencies pegged to a stable value like the US dollar, have been widely used for illicit activities such as sanctions evasion and scams, accounting for a significant portion of criminal transactions in the crypto space.
More and more on-chain indicators suggest a critical point of cycle change in the cryptocurrency and Bitcoin (BTC) market, with indicators such as the on-chain value map, realized capitalization, and the threshold of long/short-term holders starting to turn green, which historically correlates with the start of a bull market.
An insider trader turned 0.34 Ethereum into around $550,000 within eight hours after the launch of a memecoin called FERRET, highlighting the risks and prevalence of insider trading in the cryptocurrency space.
BlackRock's iShares Bitcoin Trust (IBIT) reached $1 billion in assets under management, making it the first of the recent bitcoin ETF providers to hit this milestone, reflecting strong investor demand.
Cryptocurrency analyst Bluntz believes that Solana (SOL) may surge over 39%, while also predicting potential breakouts for dogwifhat (WIF) and Maverick Protocol (MAV).
Celestia, a new coin that has gained popularity for its impressive performance, interesting architecture, and controversial founder, has become a trending topic in the crypto community. Despite the founder's past involvement in hacking, Celestia stands out with its modular blockchain system that separates consensus from execution, offering scalability and a more diverse ecosystem for decentralized applications.
Ethereum staking platform Kiln has raised $17 million in a funding round led by 1kx, with participation from several other investors, to support its global expansion and product development.
Bitcoin's rise to $100,000 is more probable than Shiba Inu reaching $0.01, as Bitcoin is the larger and more popular coin with a higher market cap and greater recognition in the crypto market.
Former President Donald Trump has promised to prevent the creation of a U.S. central bank digital currency, arguing that it would grant the government complete control over citizens' money and pose a threat to freedom.
Altcoin Sherpa predicts that the native token of the NFT marketplace and aggregator platform Blur (BLUR) will surpass its all-time high, while also remaining bullish on Chainlink (LINK) and Fetch.ai (FET) in the medium to long term.
### Summary The Sui Foundation has partnered with Stork to provide real-time pricing data to enhance speed and access for traders and builders on the Sui blockchain, with Stork offering index and mark prices for app developers, DEXs, and lending protocols.
Bitcoin and Ethereum prices have increased significantly in 2023, while XRP has lagged behind, and indicators suggest that a correction may be in store for Bitcoin but Ethereum's outlook remains bullish with the potential for further price increases, while XRP's trend is uncertain with potential for both a price drop or breakout.
Bitcoin's price is rising with strong trading volumes, providing some optimism in the cryptocurrency market.
Specialist investment firm Deus X has partnered with Fabiano Consulting to explore investment and strategic opportunities in the bitcoin mining sector, offering funding and strategic advice to mining companies.
The Shiba Inu cryptocurrency, SHIB, is expected to potentially surge by 400% and reach the one-cent milestone, with market analysts projecting a rise in value over the next 30 months, although a more measured approach to investment is advised.
Despite Bitcoin's recent decline in value, crypto traders maintain a positive outlook on the broader market, as reflected by the positive funding rates in perpetual futures tied to the CoinDesk 20 index and other cryptocurrencies.
Meme coins on the Solana blockchain, such as dogwifhat (WIF), have experienced a surge in trading volumes and users, with WIF reaching a 50% increase in value, as meme tokens like usedcar (USEDCAR), popcat (POPCAT), and kpop (KPOP) also spiked; however, several viral Solana tokens have fallen by 80% from their peak, and early investors have taken profits.
Headwinds for bitcoin continue as the recent ETF listing contributes to downward pressure, with on-chain analysis suggesting further price correction and potential selling from short-term traders and large holders.
The largest Bitcoin transaction of the year, worth $665 million, took place recently, while Bitcoin miners have been actively selling their stash, resulting in a significant drop in miner reserves.
Frax Finance is set to launch its layer 2 blockchain, Fraxtal, in February, which is expected to attract significant value locked and make it one of the top chains in the market.
The speculation around Ethereum's chances of ETF approval could result in significant gains as the narrative shifts to potential Ethereum Spot ETF approvals.
Global investment firm Franklin Templeton has expressed its admiration for the Solana blockchain and its excitement about the future of Ethereum and its ecosystem, highlighting various factors contributing to its positive momentum including EIP 4844, alternative data availability (Alt DA), community revitalization, and restaking, while also stating its belief in the potential of other layer-one blockchains besides Bitcoin, Ethereum, and Solana.
A crypto strategist warns that Sei (SEI), a competitor of Solana (SOL), may have reached a short-term peak, while also keeping an eye on Lido DAO (LDO) and Xai (XAI) for potential entry opportunities.
Apeiron, a new NFT game on the Ethereum gaming network Ronin, has launched an airdrop campaign allowing players to earn ANIMA tokens by completing tasks and owning certain NFTs in the game.
Nifty Island, a new social multiplayer game with NFTs, allows players to complete quests, customize their own islands, collect items, and mint NFT rewards, with plans to integrate over 120 different NFT collections and become a leading platform for distributing and monetizing user-generated content.
Bitcoin's hash rate has dropped by 25% due to miners in Texas curtailing power to strengthen the local grid amid a cold outbreak, raising concerns about the security of the network ahead of the upcoming halving event.
U.S. cryptocurrency exchange Coinbase defended itself against a lawsuit from the Securities and Exchange Commission (SEC), arguing that crypto assets should not be classified as securities and that the SEC is overreaching its jurisdiction. The outcome of the case could have significant implications for the future regulation of the crypto industry in the U.S.
MetaMask, the popular crypto wallet, is testing a new transaction routing technology based on blockchain design principle "intents," which could revolutionize the way users interact with blockchains by allowing them to specify the outcome they want instead of the specific actions they need to take.
A judge is deciding whether to dismiss the Securities and Exchange Commission's case against Coinbase, which revolves around whether transactions in several tokens should be classified as unregistered securities.
Solana meme coin Dogwifhat (WIF) has surged 51% in the last 24 hours, reaching a new all-time high price of $0.42, potentially boosting the overall value of SOL, while Solana itself has risen 4% to $101.
Bitcoin rallied over 150% in 2023, outperforming smaller cryptocurrencies, but analysts at Pantera Capital predict that smaller coins may shine in the late stage of the crypto bull market, as seen in previous cycles. Investors may seek tokens with higher growth and altcoins with fundamental reasons to appreciate multiples more than bitcoin are expected to perform best. However, cryptocurrencies remain highly volatile and smaller coins carry additional risks. Additionally, VanEck announced the liquidation of its bitcoin futures ETF, expecting investor appetite to shift towards funds investing directly in the cryptocurrency.
Net inflows into newly approved bitcoin exchange-traded funds (ETFs) total around 21,000 bitcoin or $894 million, with BlackRock's iShares Bitcoin Trust leading the way by adding 16,362 bitcoin and Fidelity's Wise Origin Bitcoin Fund following with 12,112 bitcoin, overshadowing considerable exits from Grayscale's Bitcoin Trust.
Coinbase is motioning to dismiss a suit filed by the U.S. SEC claiming securities violations, arguing that cryptocurrencies are not under the jurisdiction of the SEC as they are not shares in companies, while the judge has raised concerns about the SEC's attempt to broaden the definition of what constitutes a security.
The recent approval of spot Bitcoin ETFs has led to record trading volumes, but they are trading at a premium compared to spot Bitcoin, indicating a market trend; the approval of ETFs resulted in a 15% decline in Bitcoin price and the correction is expected to continue as short-term traders and prominent Bitcoin holders sell off.
Decentralized exchange dYdX has surpassed Uniswap as the largest DEX by daily trading volume after migrating to Cosmos, with its v4 version seeing $757 million of volume compared to Uniswap v3's $608 million.
$2 billion worth of dormant Bitcoin, which had not moved since 2013, was recently transferred, indicating significant gains for the mystery holder and speculation that it was done by a big company such as Coinbase.
Renowned crypto analyst Alex Wacy has identified 50 altcoins with the potential to become unicorns, spanning various sectors such as Layer 1 and Layer 2 technologies, Real World Assets, GameFi, AI, privacy-focused tokens, and more.
The approval of spot bitcoin exchange traded funds (ETFs) marks a turning point in crypto adoption rates, leading to increased demand for Bitcoin and Ethereum from asset allocators and the potential for a tsunami of cash entering the crypto market. Additionally, altcoins may benefit as crypto native investors take profits on majors and allocate capital into smaller tokens.
Ethereum's Dencun upgrade went live on a testnet today, bringing the network one step closer to addressing its scalability issues with the proto-danksharding feature, which will allow it to handle over 100,000 transactions per second via layer-2 solutions.
Bitcoin mining stocks have faced underperformance due to lower investor interest and a weaker BTC price, but this presents a potential buying opportunity for investors looking to enter the market, according to brokerage firm Bernstein. They suggest that the next two months offer a chance to invest in bitcoin miners, which will provide a higher beta trade to the next bitcoin price upswing. Bernstein recommends achieving bitcoin exposure through miners like Riot Platforms and CleanSpark.
Jamie Dimon, CEO of JPMorgan Chase, expressed his frustration with Bitcoin during a recent CNBC interview, likening it to a "pet rock" and claiming that its only uses are illegal activities such as money laundering and fraud, despite evidence supporting his claims. Dimon has a history of criticizing Bitcoin and has previously threatened to fire any employee who invests in it. However, the market for cryptocurrencies has been growing, and the recent approval of a Bitcoin ETF by the Securities and Exchange Commission indicates its legitimacy as a financial asset.
2024 is expected to be a transformative year for digital assets, especially bitcoin, with the SEC's approval of a spot bitcoin ETF and the upcoming halving event in April, leading to increased demand and scarcity, potentially driving up bitcoin's value.
The number of active, open-source crypto developers has dropped by 24% in the past year, likely due to the crypto winter, but the majority of those who left were new to the industry, while experienced developers actually grew by 33%, with an increasing geographic diversity in non-Western countries; Ethereum remains the most popular platform for developers, but other networks such as Polygon and Solana are also seeing growth, while Bitcoin has experienced a decline in new developers.
MetaMask, the biggest Ethereum wallet, is testing a new "transaction routing" feature that utilizes intent-centric protocols to provide optimal execution and improved user experience by allowing users to specify their desired outcome instead of the specific steps for transactions.