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Good morning. Here’s what’s happening:
price: Altcoins, including Solana’s SOL and Serum’s SRM, are benefiting from the first altcoin mini-rally of the year. A short squeeze added fuel.
insight: Alex Thorne, head of research at crypto investment firm Galaxy Digital, told CoinDesk that Web3 blockchain startups and deal-based services could continue to lead venture capital deals and funding in 2023. He said that there is
price
CoinDesk Market Index (CMI)
841.62
+6.7 ▲ 0.8%
Bitcoin (BTC)
$17,186
−20.4 ▼ 0.1%
Ethereum (ETH)
$1,326
+26.0 ▲ 2.0%
S&P 500 Daily Close Price
3,892.09
−3.0 ▼ 0.1%
Money
$1,879
+6.5 ▲ 0.3%
Government Bond Yield 10 Years
3.52%
▼ 0.1
BTC/ETH price by CoinDesk index; Gold is the COMEX spot price.Price around 4pm ET
Mini Altcoin Rally Generates Craze for First Time in Months
Sam Reynolds
Everyone gets a second chance in cryptocurrency.
A few weeks ago, Solana was on her deathbed. As 2022 drew to a close, Ethereum’s competitor at the center of Sam Bankman-Fried’s token universe had lost more than 90% of its value. The most vocal cheerleaders like Sino Global Capital may be stuck as bigholders.
However, according to data from CoinDesk, Solana’s native SOL token has seen a sharp rise in price as the cryptocurrency market attempts to recover from months of stagnation. The protocol’s tokens are up 11% over the last 24 hours and 46% over the past two weeks. As CoinDesk previously reported, there has been brisk trading activity on the network, with daily active users up 40% over the past two weeks. To liquidity providers he’s paying his 1,000% yield like 2021’s ‘DeFi Summer’ Shiba Inu themed silly memes like his BONK token his coin has a lot to do with it there is.
Solana’s comeback story aside, other cryptocurrency majors are also doing well. Bitcoin (BTC) is slowly making its way back to $20,000 after recently breaking through $17,000, and Ether (ETH) is up 3% to $1,326 in the last 24 hours. Altcoins got a boost from a short squeeze. The CoinDesk Market Index (CMI) is up 1.2% over the last 24 hours.
All of this has boosted crypto-related mining stocks as well. Indeed, many are down 80% year-on-year in his 2022, but recovery starts with green shoots.
Insight
Galaxy Digital’s head of research sees more venture funding for Web3 companies this year
Fran Velazquez
According to Alex Thorn, head of research at crypto investment firm Galaxy Digital, Web3 Blockchain startups and deal-based services will lead the way in venture capital deals and funding in 2022, a trend that will continue to grow. is likely to continue this year.
Thorn told CoinDesk TV’s “First Mover” on Monday that the web’s three sectors, consisting of non-fungible tokens (NFTs), decentralized autonomous organizations, the metaverse and online games, will account for 31% and 13% of transactions in 2022. said it was. It consisted of a trading platform.
According to Galaxy’s “Crypto VC Year End” report, VCs will invest over $30 billion in cryptocurrency and blockchain startups in 2022.
However, Thorne noted that the number of transactions and investment amounts in 2022 has been steadily declining quarter by quarter, suggesting that macroeconomic factors coupled with the collapse of major crypto companies may have played a role in the decline. He pointed out that there is
read Full story here.
important event.
9:10 AM HKT/SGT (1:10 UTC) Speech by Governor Kuroda of the Bank of Japan
11:30 PM HKT/SGT (15:30 UTC) Australian Monthly Consumer Price Index (YoY/Nov)
12:30 AM HKT/SGT (16:30 UTC) China Consumer Price Index (YoY/Dec)
coin desk tv
In case you missed it, here’s the latest episode of “First Mover” on CoinDesk TV.
DCG is reportedly facing investigations by US authorities.Bitcoin surpasses $17,000
According to Bloomberg, officials from the U.S. Department of Justice’s Eastern District of New York and the U.S. Securities and Exchange Commission are investigating money transfers between the digital currency group and the conglomerate’s Genesis subsidiary. Both Genesis and CoinDesk are owned by parent company Digital Currency Group. Bernstein’s Gautam Chughani joined in. Meanwhile, Bitcoin (BTC) appears to have broken out of the three-week range definitively above $17,000. Additionally, George Kaloudis, CoinDesk Research Associate, and Alex Thorn, Head of Firmwide Research at Galaxy Digital, shared 2022 as the year of cryptocurrencies in their review research.
headline
Battered FTT, Serum Token Leads Altcoin Rally, Triggers Short Squeeze: Traders have liquidated short positions worth about $245 million, according to Coinglass.
Crypto Market Analysis: Falling Inflation Expectations May Signal a Bullish Turn for Bitcoin: Consumer inflation expectations are slowly declining, which could remove one potential self-fulfilling prophecy from the list of things the Federal Reserve has to worry about.
CFTC Claims Market Manipulation Against Mango Market Exploiters: The U.S. Commodity Futures Trading Commission (CFTC) issued a mango market exploiter just weeks after mango market exploiter Abraham Eisenberg was arrested by the U.S. Department of Justice (DOJ) on similar charges. was charged with manipulating
Galaxy Digital’s head of research sees more venture funding for Web3 companies this year: The sector will lead VC fundraising in 2022, says the company’s report.
CoinDesk Research’s 2022 Annual Crypto Review: 2022 was a bear market, but it was also an eventful year for all facets of the cryptocurrency industry.
About $500 million worth of Robinhood stock seized in FTX case: The shares were owned by Sam Bankman-Fried and his FTX co-founder Gary Wang through a holding company.
About 117 parties interested in purchasing FTX units, court documents show: Attempts to urgently sell LedgerX and FTX Japan have sparked legal protests.
Last week’s most talked about EtherTrade: The so-called whales placed heavy buy orders on bearish put options tied to Ether to prevent the price from falling below $400 by the end of June.
METROPOLITAN BANK HEADS FOR CRYPT EXIT: The bank cited recent developments in the crypto industry as one of the reasons for the move.
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