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As the selling pressure on Bitcoin increases day by day, it is traded at $ 39,714 with a decrease of 0.98%, and Ethereum is traded at $ 2,218 with a decrease of 5.41% in the same time period.

Grayscale, which sold 66 thousand Bitcoins and recorded a net outflow of $ 3.4 billion in its GBTC account, sent 15 thousand 294 Bitcoins to the Coinbase exchange before the US markets opened. There was another slight decrease in Bitcoin, which fell below 39 thousand dollars yesterday and with these transfers.

Grayscale sold 14 thousand 292 Bitcoins the previous day. GBTC outflows represented $640 million, the largest outflow since ETF adoption. According to data from on-chain tracking company Arkham, Grayscale still has 535 thousand Bitcoins. Yesterday, BlackRock also purchased 6500 Bitcoins and Fidelity purchased 3957 Bitcoins.

Verified Bitcoin payment plan addresses

Mt. Gox has confirmed the addresses of its Bitcoin payment scheme in the long-running compensation process for those affected following its collapse in 2014. The Tokyo-based exchange abruptly ceased operations and filed for bankruptcy following a major hacking attack in 2014, in which 850,000 Bitcoins were lost.

Mt. Gox’s verification of Bitcoin addresses indicates that the exchange is preparing to distribute assets to creditors. This process is part of a civil rehabilitation plan approved by the Tokyo District Court in 2018. Mt. Gox incident was one of the worst in the crypto industry, shaking investor confidence and prompting demands for better security measures.

The compensation plan includes the distribution of the remaining 150,000 Bitcoins (approximately $585 million) to creditors. Mt. Gox case will serve as an example of how the crypto industry will handle future crises.

300 million with bitcoin

JPMorgan downgraded Coinbase

JPMorgan, downgraded the rating of cryptocurrency exchange Coinbase. The bank stated that Coinbase shares may be under pressure in 2024 due to the decline in Bitcoin price.

However, Coinbase shares, which gained up to 400 percent in value last year, announced a loss of $ 2.3 million in the third quarter of 2023. Despite this decline, analysts and investors are not fully convinced. JPMorgan’s downgrade caused Coinbase shares to lose around 4 percent in value. The bank suggested that 2024 could be challenging for Coinbase.

OKX’s token OKB lost 50% of its value amid rapid selling pressure

On Tuesday, OKX’s native exchange token, OKB, lost more than 50% of its value in just three minutes following a series of liquidations that triggered abnormal price volatility. OKB has rebounded from a low of $25.17 to $45.64, rising 2,100% in 24-hour trading volume to as high as $79 million, according to CoinMarketCap.

The exchange confirmed that it will fully compensate its users for losses caused by the liquidation chain, including on-chain transactions. OKX said, “The platform will fully compensate for additional losses resulting from abnormal liquidation (including mortgage loan/margin trading/cross-currency transactions).

The specific compensation plan will be announced within 72 hours. “We will prevent similar problems from occurring again by further optimizing spot leverage slope levels, mortgage loan risk control rules and liquidation mechanisms.” Flash crashes are common in crypto markets as liquidity is often dispersed across multiple platforms.

OKB’s 2% market depth measures the capital required for a 2% move in an asset, and for OKB this amount is between $224,000 and $184,000, meaning a sell order above $224,000 could impact the price. OKB has a market cap of $2.8 billion, making it the fourth largest exchange token in circulation, according to CoinGecko.

Bitcoin

BIS approves blockchain projects for 2024

The Bank for International Settlements (BIS) Innovation Center announced six new projects for 2024. These projects include a privacy testing program for central bank digital currencies (CBDCs) and blockchain-based tokenization projects.

BIS, in collaboration with the Swiss National Bank and the World Bank, launched a project called Project Promissa. This project aims to develop a proof of concept of a platform designed for tokenized securities. BIS plans to complete the tokenization of promissory notes, which are still held on paper in traditional financial systems, in early 2025.

The BIS Innovation Center continues with Project Aurum, which examines the privacy of payments in Hong Kong’s retail CBDCs. This project aims to improve central banks’ understanding of privacy in the design of CBDC systems.

Project Aurum is carried out in cooperation with BIS and the Hong Kong Monetary Authority (HKMA) and is considered a full-fledged CBDC system. The project aims to research and develop two different types of tokens that work in the interbank system.

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Crypto

Bitcoin Exceeds $1 Trillion Market Cap

The total value of the cryptocurrency market reached 1.89 trillion dollars with the rise in the market; Bitcoin’s market value increased to $1.02 trillion and Ethereum’s market value increased to $334 billion.

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The total value of the cryptocurrency market reached 1.89 trillion dollars with the rise in the market; Bitcoin’s market value increased to $1.02 trillion and Ethereum’s market value increased to $334 billion.

With court order, Genesis may sell $1.3 billion worth of shares in Grayscale’s GBTC fund

Court, allowed Genesis Global Holdco LLC to sell 35 million shares in Grayscale’s GBTC fund for $1.3 billion. Judge Sean Lane announced that Genesis could convert these shares into Bitcoin or cash. Genesis, a subsidiary of Digital Currency Group (DCG), also plans to sell 11 million shares in its Grayscale Ethereum Trusts fund for over $200 million. DCG attempted to delay the sale before the court approved the debt payment plan. DCG stated that it was not against the sale, but that the sale could happen early if the court plan was rejected.

Big Bitcoin transfer

Popular Layer 2 solution Starknet announces STRK token distribution plan to 1.3 million wallets

Starknet Foundation announced its plan to distribute STRK tokens to approximately 1.3 million wallets. Owners of these wallets, including early dapp users and network contributors, will receive rewards. Distribution will begin on February 20 and users will be able to request it until June 20. A total of 700 million STRK tokens will be distributed, accounting for 7% of the total supply. STRK Token aims to make STARK-based scaling more decentralized. The Foundation wants to encourage community participation in the management of the network.

DeFi lender Moonwell offers USDC lending across Ethereum

The Moonwell platform now lets you lend and borrow USDC coins from different Ethereum networks in one place, thanks to its USDC Anywhere tool. Moonwell can detect USDC in users’ wallets and transfer them to the Moonwell platform. In this way, USDC usage is facilitated within the entire Ethereum ecosystem without the need for manual transfers between wallets and networks. Bitcoin Exceeds $1 Trillion Market Cap.

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Crypto

Bitcoin hits new resistance level before $52,000

Bitcoin is trading at $48,200 with a 13% increase since last week, while Ethereum is trading at $2,500 with a 10% increase.

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Bitcoin is trading at $48,200 with a 13% increase since last week, while Ethereum is trading at $2,500 with a 10% increase.

Bitcoin ETFs reached $10 billion in asset management volume in a month after approval. Nine ETFs stood out with net inflows of $2.7 billion on Jan. 9, led by BlackRock’s iShares Bitcoin Trust.

Fidelity’s Wise Origin Bitcoin Fund manages $3.4 billion worth of BTC. ARK 21Shares Bitcoin ETF has achieved billion-dollar success with its $1 billion portfolio. Grayscale Bitcoin Trust has experienced an outflow of $6.3 billion in the last 30 days.

Bitcoin’s price consolidated above technical support levels in January, gaining 0.6% to $42,585, according to analysis from ARK Invest. ARK Invest believes that Bitcoin is replacing gold and its role in financial markets is increasing.

According to the analysis, the price of Bitcoin has increased twentyfold in the last 7 years compared to gold. The asset manager predicts that Bitcoin will remain resilient if inflation decreases and real interest rates rise.

Bitcoin step of the giant company

FTX plans to sell Digital Custody for $500 thousand during bankruptcy process

FTX plans to sell its Digital Custody (DC) company, which is in bankruptcy process, to CoinList for $10 million to $500 thousand. Although FTX acquired DC for FTX US and LedgerX, it went bankrupt before the integration was completed.

The company attributes the reason for selling DC to the fact that FTX US has not yet been launched and DC is no longer valuable. The prominent offer for the sale came from CoinList, funded by Terence Culver.

FTX emphasizes that it is pursuing a restructuring plan focused on full payment to customers. However, users oppose the company’s valuation of cryptocurrency deposits at 2022 prices and demand intervention.

Ethereum gas fees reach 8-month high

Ethereum Gas fees on the network have reached an eight-month high amid a burst of interest around a new, unofficial token standard called ERC-404.

On February 9, Ethereum gas prices rose as high as 70 gwei ($60) for a standard transaction. ERC-404 refers to an experimental standard that aims to connect ERC-721 NFTs to ERC-20 tokens.

This wave, initiated by the Pandora project, brought over $600 million in transaction volume and over 6,100% gains in the last 6 days. While the increase in Ethereum gas fees with the popularity of ERC-404 draws attention, the developers of the project state that they focus on reducing gas costs.

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The investment information, comments and recommendations contained herein are not within the scope of investment consultancy. Investment consultancy services are offered individually, taking into account people’s risk and return preferences. The content, comments and recommendations contained herein are of a general nature and are not guiding in any way. These recommendations may not suit your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results that meet your expectations.

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Crypto

Criminals Are Increasingly Turning to Crypto Assets

According to the report published by the US Treasury Department, criminals and fraudsters are increasingly turning to crypto assets. The 2024 National Risk Assessments Report highlights the threats of illicit financial activities in the United States.

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According to the report published by the US Treasury Department, criminals and fraudsters are increasingly turning to crypto assets. The 2024 National Risk Assessments Report highlights the threats of illicit financial activities in the United States.

To the report According to reports, malicious actors are laundering illicit funds using cryptocurrencies as well as cash. The Treasury plans to share a strategic plan with solution suggestions soon.

The money laundering report noted that although the proceeds from the drug trade were cash-based, the use of virtual assets was a concern for US law enforcement and virtual assets were volatile but recovered in the fall of 2023.

crypto-

While it is emphasized that virtual asset service providers must comply with the regulations, it is stated that many services of decentralized finance (DeFi) do not comply with the regulations. It is stated that criminals target DeFi and online games, and online games pose unique money laundering risks.

The terrorist financing report states that terrorists have adapted to technology but also stick to the methods they know. and the content, comments and recommendations are of a general nature and are not of a guiding nature in any way. These recommendations may not suit your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results that meet your expectations.

Both verbal and visual cryptocurrency information within the scope of this report that you have accessed has been compiled in good faith from the first accessible sources and for the sole purpose of obtaining information without creating any guarantee or warranty regarding its accuracy, validity, effectiveness, in short, as a basis for any decision in any form or manner. .

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