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Crypto Daily Roundup, 18 Jan: Is the Bull Run Ready to Bow Out

18-Jan-2024 By: Lokesh Gupta
Crypto Daily Roundup

In the last 24 hours, Crypto Currency have dropped significantly.

Top 5 Losers Coins

IndicesLTPChange (%)
ThorChain$4.248.70%
Beam$0.020787.26%
Bonk$0.000013084.76%
LidoDAO$3.134.71%
Arbitrium$1.974.56%

Crypto News Key Highlights:

  • Donald Trump pledges to thwart the Federal Reserve's central bank digital currency, citing it as a threat to freedom. Vivek Ramaswamy exits the GOP race after endorsing crypto policies. Ex-SEC enforcer proposes a Crypto Czar for each candidate. Clear regulations spur crypto growth, appealing to privacy-focused voters. Candidate positions are pivotal.

  • Lutnick underscores Cantor's responsibility in overseeing Tether assets, expressing confidence in its financial stability amid persistent doubt. Highlighting Tether's $94.8 billion market cap and expanded supply, Lutnick notes its significant adoption in specific global economies. Despite global presence, he acknowledges limited demand for USDT in the United States.

  • Ripple's CTO, David Schwartz, backs the XRP Ledger (XRPL) in response to Franklin Templeton's exploration of blockchain networks beyond Bitcoin and Ethereum. Emphasizing XRPL's decade-long reliability and asset tokenization capabilities, Schwartz's endorsement adds credibility to XRPL's standing. Franklin Templeton's openness to diverse blockchains reflects an industry trend.

  • Singapore's Monetary Authority (MAS) has rejected Spot Bitcoin ETFs for retail investors, citing crypto's high volatility and speculative nature. While retail investors can access overseas ETFs through licensed intermediaries, local Collective Investment Schemes are limited by the Securities and Futures Act, excluding digital tokens. MAS emphasizes caution in overseas Bitcoin ETF trading. Hong Kong is also considering stringent crypto regulations following Singapore's lead. In contrast, the U.S. recently approved 11 Spot Bitcoin ETFs, gaining significant market attention.

  • Google's Gemini AI , facing recent public backlash, secures a multi-year partnership with Samsung's Galaxy S24 series. Gemini AI models, including Gemini Pro and upcoming Gemini Ultra, will enhance Samsung's devices, with inbuilt Gemini Nano facilitating on-device tasks. The collaboration aims to provide users with a multisearch engine and gestures, addressing recent criticism faced by Google's AI technology. The move puts Google in competition with Microsoft Bing and OpenAI's ChatGPT.

  • Bitcoin miners have reportedly sold over 10,600 BTC in the last 24 hours, valued at approximately $455.8 million. The increased selling activity coincides with a significant decline in Bitcoin's hashrate due to extreme winter storms affecting the USA. Despite this, the BTC price remains steady, potentially attributed to strong buying through Bitcoin ETF inflows, countering weakness in Bitcoin mining stocks, which Bernstein sees as a buying opportunity.

  • Thailand's SEC lifts restrictions on digital token investments, effective from January 16, 2024, fostering a secure and inclusive digital asset landscape. Key changes include removing investment restrictions for real estate or infrastructure-backed digital tokens for retail investors, promoting innovation, and enhancing security measures for custodial wallet providers.

Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.

Also read - Crypto Roundup, 17 Jan: A Quiet Market Emerges After Volatility Storm

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