Headlines
▌Source: The U.S. SEC may not approve a spot Bitcoin ETF until the end of this week< /p>
Fox Business News, BlackRock sources said that the U.S. Securities and Exchange Commission may not approve a spot Bitcoin ETF until the end of this week.
▌Bitcoin enters 2024, momentum indicators tilt towards bullish sentiment
As the time turns to 2024, Bitcoin The price of the coin has fluctuated between $42,094 and $42,781 per coin. On January 1, 2024, Bitcoin (BTC) had a narrow 24-hour trading range, with the market capitalization standing at $834 billion. The trading volume on the day was very low, which is typical of New Year's Day, indicating that market sentiment is cautious and people are enjoying the holiday. . Traders pay close attention to oscillators and moving averages, which present a subtle picture of market direction.
Oscillator indicators, a key measure of market momentum, were mainly neutral on January 1. The relative strength index (RSI) is hovering at 53, indicating that market sentiment is balanced. Notably, the momentum indicator is leaning towards bullish sentiment, suggesting that prices may rise. In contrast, Moving Average Convergence/Divergence (MACD) levels currently point to bearish market sentiment, highlighting potential market conflict and the need for caution.
Quotes
As of press time, according to coinmarketcap data:
The recent transaction price of BTC was 44,071.8 US dollars, with fluctuations during the day. Frame+3.03%;
ETH Recent The transaction price was US$2345.76, and the intraday increase or decrease+1.37%;
BNB The recent transaction price was US$314.8, with intraday changes +0.77%;
XRP’s recent transaction price was US$0.6292, with intraday gains and losses +1.26% ;
The recent transaction price of DOGE was US$0.092, with an intraday increase or decrease of +1.01% ;
ADA’s recent transaction price was US$0.6227, with an intraday increase or decrease of +2.76 %;
SOL’s recent transaction price was US$109.15, with intraday gains and losses+2.96%.
Policy
▌Legal experts: FTX bankruptcy case may last for years
Alan R. Rosenberg, a partner at Markowitz Ringel Trusty & Hartog, said in an interview that FTX’s bankruptcy case will drag on longer than some other cryptocurrency bankruptcy cases, such as Celsius and BlockFi. That’s because FTX is filing multiple recovery claims or avoidance lawsuits in an attempt to recoup funds paid out in the weeks and months leading up to the bankruptcy.
Given that some of these transfers could be very significant and some of them are for large organizations, which I believe are very capable of protecting themselves, it's likely that some of these things will persist for a long time, Rosenberg said. long time.
Rosenberg added that such claims are typically settled in out-of-court settlements and do not go to trial because settlement costs are typically lower. However, negotiating a solution also takes time. Additionally, one of the key issues in such litigation is how to calculate the value of a cryptocurrency over time. To my knowledge, there is no clear case law on how cryptocurrencies should be valued in avoidance proceedings.
Blockchain Applications
▌The three major DeFi innovations in 2023 are cross-chain communication , ERC-4337 and improvements in derivatives DEX
According to an article issued by Blockworks, the three major DeFi innovations in 2023 are: 1. Cross-chain communication to make the blockchain more interoperable ;2. Smart accounts through ERC-4337; 3. Improvements in decentralized derivatives exchanges.
Cryptocurrency
▌SBI VC Trade will The success is attributed to the significant growth of the crypto-asset market
SBI VC Trade representative director and CEO Tomohiko Kondo expressed his gratitude to customers and stakeholders in a recent social media address and described the company as The success is attributed to the significant growth of the crypto asset market. Kondo highlighted XRP’s stellar performance as a key focus for SBI VC Trade and the wider SBI Group.
Japanese financial institution SBI continues to actively cooperate with Ripple and announced the establishment of a joint venture earlier this year, consolidating the partnership between the two parties. Kondo also highlighted SBI Ripple Asia’s key role in this collaboration. SBI holds a 60% majority stake, with Ripple Labs holding the remaining 40%. The entity will introduce Ripple’s remittance solutions to bank accounts in Southeast Asia.
▌Report: Average age of Indian cryptocurrency investors rises from 25 in 2022 to 2023 Turning 30
India achieved its highest-ever cryptocurrency trading volume in November 2023, according to a new report from cryptocurrency exchange CoinDCX, marking a milestone for the country’s digital assets There has been a significant surge in activity within the ecosystem. 28 Indian entities became “Financial Intelligence Unit Registered Reporting Entities”. India emerges as a global leader in cryptocurrency adoption, reflecting continued interest and strong demand for digital assets. 60% of the user base is concentrated in 10 cities. Contrary to expectations, tier-2 cities like Lucknow and Patna surprisingly emerged as leaders in cryptocurrency adoption, with Jaipur, Indore, Bhubaneswar and Ludhiana among the top 15, challenging the notion that major urban centers monopolize the financial investment space.
One of the most striking trends is the maturation of Indian cryptocurrency investors, with the average age rising from 25 years old in 2022 to 30 years old in 2023, attracting outside the traditional young group. Experienced investors. The exchange said the shift demonstrates a growing understanding and acceptance of cryptocurrencies as legitimate investments.
▌Noones CEO: Many people on the continent have adopted Bitcoin Noones CEO Ray Youssef said peer-to-peer (P2P) Bitcoin trading is public enemy number one in the United States because of the potential for widespread adoption by people in countries in the southern hemisphere, This represented "the world's first real threat to the United States." Youssef stated that many people on the African continent "have transformed Bitcoin into a medium of exchange as its primary use case."
Important Economic Updates
▌Han Wenxiu, Deputy Director of the Central Finance Office: A prudent monetary policy must be flexible, appropriate, precise and effective
Han Wenxiu, Deputy Director of the Central Finance Office An article in the People's Daily pointed out that prudent monetary policy must be flexible, moderate, precise and effective. It is necessary to maintain reasonable and sufficient liquidity to ensure that the scale of social financing and money supply match the expected goals of economic growth and price levels. It is necessary to give full play to the dual functions of the total volume and structure of monetary policy tools, revitalize the stock, improve efficiency, and do five major articles on technology finance, green finance, inclusive finance, pension finance, and digital finance. Promote the stability and decline of comprehensive social financing costs to better support the development of the real economy. Keep the RMB exchange rate basically stable at a reasonable and balanced level. (Jinshi Data APP)
Golden Encyclopedia
▌What is a miner?
In the cryptocurrency world, miners can be compared to gold diggers in the real world. Miners obtain the right to produce blocks through proof of work, add new blocks to the blockchain, and obtain considerable rewards. Miners play a key role in blockchain networks, as they are responsible for validating new transactions and recording them on a globally distributed ledger, known as the blockchain. It is important to emphasize that miners are a type of full node, which means that they verify all the rules of the blockchain and only accept blocks that comply with these rules.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and not as actual investment advice. Please establish a correct investment philosophy and be sure to increase your risk awareness.
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