#Bitcoin ($BTC), the world's oldest and most valued cryptocurrency, couldn't surpass $40,000 early Thursday, extending its recent decline.
Despite hopes for #Ethereum (ETH) gaining momentum from BlackRock's spot ETH exchange-traded fund (ETF), the US SEC's delayed approval is anticipated to contribute to a bearish trend for $ETH.
Crypto Fear and Greed:
In the past 24 hours, there has been a surge in buying activity in the market, leading to a 4-point uptick in the "Greed and Fear Index." With the current score standing at 52 on the 0 to 100 scale, the market sentiment is positioned above the midpoint, indicating a favorable outlook.
Bitcoin ($BTC), the world's oldest and most valued cryptocurrency, struggled to surpass the $40,000 mark early Thursday.
Other major coins, including #Ethereum ($ETH), #Dogecoin ($DOGE), #Solana ($SOL), #Ripple ($XRP), and #Litecoin ($LTC), experienced losses.
Conversely, #Helium emerged as today's biggest gainer, exhibiting a significant 24-hour jump of nearly 24%.
On the flip side, #Blur stood out as the day's top decliner, displaying a notable 24-hour drop of almost 8.09%.
Total crypto market volume in the last 24 hours: $50.8B, with a 31.17% decrease.
DeFi volume stands at $4.18B, representing 8.24% of the total crypto market 24-hour volume.
Stable coins contribute $46.54B, constituting 91.62% of the total crypto market 24-hour volume.
Bitcoin dominance is at 50.44%, up by 0.04% during the day.
Token extensions, announced on January 24, provide versatile solutions for advanced token functionality on Solana, benefiting developers, financial institutions, and enterprises. Leading players like Paxos and GMO Trust actively use these extensions for stablecoin issuance on Solana, marking a significant development in the crypto industry.
SEC's green light for 11 spot Bitcoin ETFs on January 10 fuels hopes for Ethereum and XRP ETF approval. Challenges loom for XRP due to the Ripple-SEC legal battle; a July partial win impacts the ongoing case. Ripple's CEO, Brad Garlinghouse, sees optimism for spot XRP ETF approval after the SEC's Bitcoin ETF nod.
The SEC has imposed stricter regulations on SPACs, aiming to enhance investor protection. With a 3-2 vote, the Commission focuses on disclosure requirements, aligning SPAC operations with traditional IPO frameworks. The rules address concerns about misleading financial projections and potential conflicts of interest.
The SEC has postponed its decision on BlackRock's spot Ethereum ETF, the iShares Ethereum Trust, until March 10, 2024. The delay follows a similar postponement by Fidelity Investments. Speculation surrounds the prospects of Ethereum ETFs, with Commissioner Hester Peirce suggesting a different approach based on past experiences.
Bitwise, a leading cryptocurrency asset management firm, has become the first in the US to publicly disclose Bitcoin addresses for its spot Bitcoin ETF, BITB. This move enhances transparency, builds investor trust, and aligns with blockchain principles, setting a new industry standard for accountability and compliance.
Bitcoin mining firm Hut 8 denies accusations from JCapital Research, refuting claims of misconduct and emphasizing the reliability of SEC and Canadian regulatory filings. Despite a stock dip after JCapital's report, Hut 8's leadership expresses confidence in its long-term vision and urges reliance on official records for judgment.
Cryptocurrency expert Adam Back provides insights into Mt. Gox's unique bankruptcy approach, highlighting the decision to reimburse creditors in Bitcoin. He discusses the role of institutional claim buyers and emphasizes Bitcoin's value as "digital gold," drawing parallels between its scarcity and the characteristics of physical #gold.
COIN GABBAR Views: Is Bitcoin on the verge of further decline, or has it weathered the worst after crashing below $40000? Are investors anticipating a shift after the recent FOMC meeting on January 30-31? Could the meeting outcome chart a new course for the cryptocurrency market? To get latest news Stay tuned us at coingabbar
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Also Read: Crypto Daily Roundup,24 Jan: Market witnessed steep declines
