Overview of the Latest Developments

• Over $62 million in long BTC positions were liquidated in a matter of hours.
• This was the third liquidation cascade within the last 12 months.
• Bitcoin price dropped to around $22,000 in a very short time.

How to Proceed Now?

Forecasts are extremely difficult as some talk of an oversell while other investors see a potential for a new entry with positive signs on the US stock market. Analysts see both positives and negatives that can affect price and investors should follow developments closely and adjust their investment decisions accordingly.

Correction with a Short Shock?

Despite the recent price correction and negative headlines, the fundamentals of Bitcoin network remain stable as its hash rate continues to rise and active addresses on the network have also increased significantly.

Investment Advice for New Investors

For new investors in the crypto market, it is advised to invest with Bitcoin shares rather than larger amounts of money with whole Bitcoins due to volatility of markets.

Conclusion

The situation for Bitcoin course will remain uncertain in the coming weeks and months so it is important for investors to stay updated on all developments related to markets, networks and prices before they make any decisions regarding their investments.

CryptoUnity Exchange

• CryptoUnity is an exchange that seeks to make it easier for beginners to navigate the crypto ecosystem.
• It uses a cold wallet with an NFC card and partners with Lenovo, while also passing audits by QuilAudits and CertiK.
• The CUT token powers the CryptoUnity ecosystem and provides holders with many benefits including lower fees, rewards, and access to presales.

User-Friendly Interface

CryptoUnity is targeting beginners in the crypto ecosystem by providing a user-friendly interface and comprehensive educational resources. The goal of the exchange is to close the gap for those who are new to cryptocurrencies and make the world of crypto more accessible. To ensure safety and transparency, CryptoUnity implements a cold wallet with an NFC card and passes audits by QuilAudits and CertiK.

CUT Token

The CUT token is the utility token that powers the CryptoUnity ecosystem. It has a total supply of one billion tokens which provide holders with many different benefits such as lower fees, rewards, access to presales, airdrops, holder rewards, giveaways advantages and much more.

Partnership With Lenovo

CryptoUnity has partnered with Lenovo, one of the leading tech companies in the world, as part of its efforts for safety assurance. This partnership serves as a positive for both parties involved as it allows CryptoUnity users to store their funds securely while also giving Lenovo access to blockchain technology applications on their own platform.

CertiK KYC Gold Badge

To demonstrate its commitment towards transparency and accountability within the cryptocurrency space, CryptoUnity has received a CertiK KYC Gold badge after passing all necessary audits conducted by QuilAudits and CertiK. This badge means that members of its core team have provided verifiable background information at its highest level thus ensuring trustworthiness within its operations.

• Bitcoin price fell below $20,000 after its biggest dump since November 2022
• The selloff was largely fueled by negative news, including the New York Attorney General suing KuCoin over offering of unregistered securities and Ethereum being named as one of the securities
• Other factors that likely contributed to the selloff include news of crypto bank Silvergate winding down, a potential US tax on Bitcoin mining, and security breaches on Hedera and Huobi Token

Bitcoin Price Drops Below $20K

Bitcoin price fell below $20,000 after its biggest dump since November 2022. The top crypto asset by market cap dumped amid broader selloff for cryptocurrencies, largely fueled by negative news.

Factors Contributing to Sell-Off

The negative news was compounded by the fact that the lawsuit identified Ethereum as one of the securities. Further downward pressure came from reports that crypto bank Silvergate was winding down and that the US was targeting a new tax on Bitcoin mining. Huobi Token’s flash crash and a security breach on Hedera also added to the broader market bloodbath.

Impact on Crypto Market

As a result of this confluence of negative triggers, stocks and cryptocurrencies have shed over $2 trillion in market cap over th past 24 hours. Ethereum price plunged to lows of $1,375 (down 9.8% at time of writing). Bitcoin dropped nearly 10% in past 24 hours with value falling to lows of $19,569 on cryptocurrency exchange Bitstamp.

Analysis from Crypto Analyst

Crypto analyst Miles Deutscher highlighted this confluence of negative triggers which could yet catalyse further losses for cryptos. He noted that stocks and cryptocurrencies have shed over $2 trillion in market cap over th past 24 hours due to these factors.

Conclusion

Overall, today’s selling pressure for cryptocurrencies comes after several pieces of bad news related to exchanges and taxes sparked a major selloff across markets with Bitcoin breaking below psychological support zone of $20 000 for first time since early January 2021.

• Silvergate Bank recently filed that losses might leave it with less capital than it needs, leading to the suspension of its SEN Platform.
• Coinbase, Galaxy, and Paxos have stopped accepting transfers via Silvergate Network.
• USDC stablecoin issuer Circle has moved its USDC reserve deposits out of Silvergate Bank to other banks as the bank’s woes deepen.

Silvergate Bank Troubles

Silvergate Bank in a filing on Wednesday said losses might leave it with less capital than it needs. The bank recently closed its SEN Platform which institutions used to move money to crypto exchanges. Coinbase, Galaxy, and Paxos have stopped accepting transfers via Silvergate Network due to the ongoing uncertainty at the bank.

Circle Moves Its USDC Reserve Deposits

USDC stablecoin issuer Circle has today announced that it has moved its USDC reserve deposits out of Silvergate Bank to other banks as the bank’s woes deepen. In the press statement, Circle said that it had made the decision to move the small percentage of USDC it held in Silvergate because of the ongoing uncertainty at the bank.

Protecting Reserve Funds

Circle noted that its top priority is protecting the reserve funds backing USDC even if it meant cutting off ties with Silvergate Bank. Interestingly, Circle started withdrawing its USDC deposits from Silvergate last year as signs of trouble and broader crypto asset risk exposure became increasingly visible on Silvergates end. Circle has maintained that its USDC reserves are held in the Circle Reserve Fund and several well-capitalized US banks. The Circle Reserve Fund holds 80% of the USDC reserves which are reviewed on a monthly basis by Deloitte, a leading audit firm.

Previous Crypto Partners Cut Ties With The Bank

On Wednesday, Silvergate set off alarms with a filing that said losses might leave the bank with less capital than it needs, and that it was evaluating its ability to continue. The bank also suspended preferred stock dividends leading key partners including Paxos Trust Co., Coinbase Global Inc., and Galaxy Digital Holdings Ltd cutting off ties with silver gate . Other crypto firms also decided to stop accepting or making payments through silver gate .The huge exodus of partners threatens silver gates key source of deposits seeing that is was a major cryptocurrency player in U S A .

Conclusion

In conclusion , despite all these setbacks , circle is determined to protect investors funds by moving them from silver gate network into more secure banks for safe keeping .

Summary

• A new survey shows that 20% of US adults (66 million) own cryptocurrencies.
• 76% of crypto holders think blockchain and crypto are the future.
• Crypto ownership in the US has risen from 16% in 2021 to 20% in 2023.

Over 66 Million Americans Own Crypto: Survey

20% of US Adults Own Cryptocurrencies

A new survey report by Coinbase shows that 20% of Americans, which translates to more than 66 million of US adults, own cryptocurrencies. According to details in the research conducted by Wahington DC-based business intelligence company Morning Consult, most American adults who own crypto believe blockchain and cryptocurrencies are the future. The majority of respondents also think the financial system needs an overhaul.

Crypto Winter Doesn’t Deter American HODLers

Despite 2022 being a brutal year for crypto with price crashes, crypto scams and schemes and bankruptcies, cryptownership remained largely unchanged at 20%. This is comparable to historic numbers recorded in early 2022, but has increased from about 16% in 2021. 76% of all crypto owners see cryptocurrencies and blockchain as the future, with 54%-55% belonging to Gen Z or Millennials respectively.

Sanctions Can’t Terminate Tornado Cash

The popular decentralized privacy protocol was able to stay afloat despite sanctions against its developers due to its open-source nature. Chainalysis noted that though sanctions could undermine trust among users and make it difficult for exchanges to support such projects, they can’t terminate them entirely. This points towards how resilient open-sourced protocols can be compared to their centralized counterparts.

Stablecoins Need Rules To Unlock Potential

According to a Canadian think tank, stablecoins need clear rules on governance structure and liabilities if they want to unlock their full potential. They noted how existing regulations don’t address some aspects central to stablecoin operations such as issuer liability for customer deposits or capital reserve requirements. It is expected that regulators will come up with specific rules applicable only for stablecoins soon.

< h2 >70 % Of Unregulated Exchanges‘ Volume Is Wash Trading

Crypto Exchange Huobi Global Expanding to Hong Kong

• Crypto exchange Huobi Global is seeking a license to expand its business in Hong Kong, with plans to open a new exchange named Huobi Hong Kong.
• The move comes after the cryptocurrency exchange recently decided to cut its workforce by 20%, and if successful, it will increase its staff in Hong Kong from 50 to 200 people.
• The new regulation requires crypto exchanges to register with the Hong Kong Securities and Futures Commission (SFC) in order to expand their services in the city.

Huobi Global Plans for Expansion

Huobi Global is looking for a license in Hong Kong that will allow it to accommodate retail customers as part of a new licensing and regulatory framework being considered by the Chinese special administrative region. If successful, the exchange will increase its staff in Hong Kong from 50 to about 200 people.

New Regulatory Framework In HK

The new regulations require crypto exchanges like Huobi to register with the SFC in order to expand their services within the city. The SFC has opened up these licensing proposals for public comment and plans for them go into effect this June. Additionally, Huobi plans on opening a new crypto exchange called Huobi Hong Kong that would focus on high-net-worth retail investors as well as institutions.

Justin Sun’s Plans For Expansion

Founder of Huobi Justin Sun said in an interview with Nikkei Asia that he hopes the exchange can be one of the first fully compliant exchanges registered under these laws and collaborate with users throughout Asia Pacific drive digital asset growth. He also mentioned his plan on increasing his staff from 50 employees currently working there all the way up 200 by year’s end.

Final Thoughts

It remains unclear what impact expanded operations at Huobo may have but it is clear that they are willing embrace not just retail investors but entire industries such as finance and banking which could come along inside their expansion into HK.. It looks like we may soon see further news regarding this matter soon!

• Fantom (FTM) price rose modestly ahead of the upcoming US inflation data.
• The main catalyst for FTM will be the upcoming American consumer inflation numbers scheduled for Tuesday.
• The developers are also working on a stablecoin known as fUSD that will power its ecosystem.

Fantom (FTM) Price Rebounding Ahead of US Inflation Data

The price of Fantom (FTM) has been slowly rebounding in anticipation of the upcoming consumer inflation data from the United States. This news is an important factor that could influence the Federal Reserve’s monetary policy, which in turn would affect other assets such as stocks and commodities. Additionally, FTM is being buoyed by news of an upcoming stablecoin launch known as fUSD, which is expected to power its ecosystem.

US Consumer Inflation Data

The consumer price index (CPI) for January 2021 is expected to have declined from 6.5% in December to 6.2%. Core inflation, which excludes volatile food and energy prices, should have dropped from 5.7% in December to 5.6%. If these estimates come true, then it will signify seven consecutive months of deflationary pressure in the country and could lead to dovish Fed policy going into 2022.

fUSD Stablecoin Launch

Developers are currently working on rebuilding the network after some issues were encountered earlier this year and one of their projects involves launching a stablecoin named fUSD that would power its ecosystem. This could potentially provide more stability and liquidity in the market and bolster FTM’s price even further if successful.

Impact on Other Assets

High-than-expected inflation numbers coming out this week may lead to a more combative stance by the Fed while lower-than-expected figures can cause it to take a more dovish approach towards preventing a hard landing due to economic recession signals coming from an inverted yield curve not seen since the 1980s.

Conclusion

Fantom (FTM) has been slowly rebounding ahead of Tuesday’s U .S consumer inflation data release and with news about an upcoming fUSD stablecoin launch taking place later this year, investors will be closely watching how these developments play out over time before making any long-term decisions about investing in FTM or any other asset class for that matter.

• Lido DAO’s LDO crypto price recently jumped to its highest point since January 24th, due to the developers announcing V2 upgrade for the Ethereum Shanghai upgrade.
• The V2 upgrade will bring staking router and withdrawals for users, with two modes: Turbo and Bunker.
• Analysts expect that the Ethereum Shanghai upgrade will happen in March or April, which could lead to more activity ahead of this date.

Lido DAO’s LDO Price Just Went Parabolic: 12% Gains Possible

Lido Unveils V2 Plans

Lido has grown to become one of the leading players in decentralized finance (DeFi) with a total value locked (TVL) of over $8.7 billion. Most of these assets are in Ethereum, followed by Polygon, Solana, Polkadot, and Kusama. As part of the upcoming Ethereum Shanghai upgrade, Lido plans on implementing their V2 upgrade which includes staking router and withdrawal features with two modes: Turbo and Bunker.

LDO Crypto Jumped 40% Above Lowest Level This Year

When news broke out about the upcoming V2 plans from Lido DAO, their crypto asset LDO jumped to its highest point since January 24th at a high price of $2.63 which was 40% above its lowest level this year. The goal behind the V2 upgrade is to create a more diversified validator ecosystem as well as give users an easier way to withdraw their staked ETH 1:1 ratio using either Turbo or Bunker mode withdrawals.

Ethereum Shanghai Upgrade Expected In March or April

Analysts expect that Ethereum’s Shanghai Upgrade will happen sometime in March or early April which could increase activity ahead of this date. Additionally, Lido also announced that they will be distributing rewards via Aave v3 liquidity pools to further incentivize users for staking their ETH on their platform.

LDO Price Forecast

On Tuesday February 7th 2021, LDO jumped up to a high price of $2.65 which was the highest it had been since January 24th 2021 when it touched lows at around $1.82 According to analysts predictions based off technical analysis tools such as TradingView, gains between 8-12% are possible if current bullish trend continues before any potential pull back happens later down the line making now an opportune time for investors interested in buying into this coin while prices still remain relatively low compared to other top DeFi coins like Aave and MakerDAO whose prices have surged exponentially over the past few months due to increasing demand from institutional investors entering into DeFi space especially those who want exposure into yield farming opportunities without having taking too much risk on board due to lack of knowledge surrounding DeFi projects available today on market right now

Conclusion

In conclusion it appears that despite already experiencing huge growth over past few months with TVL reaching over $8B mark across various blockchains and protocols such as Ethereum , PolkaDot & Kusama , there may be still further upside potential left for investors who choose get involved early enough before market starts trading sideways once again . With upcoming upgrades being implemented soon along with expected increase in activity surrounding launch of Shanghai hardfork , now may be best time buy into this coin before prices start rising again .

Overview of the Article

• Indonesia is set to unveil a national crypto exchange by June 2023.
• The exchange will have five active, licensed platforms.
• The omnibus law passed in December governs the regulatory oversight of crypto exchanges.

Launch of National Crypto Exchange in Indonesia

Indonesia is preparing to launch its national crypto exchange before June 2023. Initially, the country planned to roll out the bourse before the end of 2022. This timeline was pushed back due to delays and additional developments such as authorities suspending the licensing of new exchanges. The government has identified five active, registered exchanges from a list of 25 for the role.

Regulatory Framework

Crypto assets trading in Indonesia falls under the purview of the Commodity Futures Trading Regulatory Agency. In December, lawmakers in Indonesia’s House of Representatives passed a financial sector development and reinforcement bill referred to as an omnibus law which serves as primary legal reference for broader financial services industry including regulation of crypto exchanges.

Trade Minister’s Statement

Trade Minister Zulkifli Hasan noted that there is need for everything to be done correctly with regards to launching this project so that public who are learning about crypto trading are not harmed by it.

Growth Of Crypto Community In Indonesia

Indonesia has one of the fastest growing cryptocurrency communities and is taking steps towards regulating digital asset trading which could help enhance trust and encourage wider adoption both locally and internationally.

• Equinoz’s artwork, Cybernetics was sold out in 4 minutes on the playNomm NFT Marketplace.
• The artwork was bought out for 40,120 LM, equivalent to US$ 16,937.
• Equinoz is a 3D artist who creates intricate images between virtual and reality.

On January 31st, the NFT marketplace PlayNomm (CEO, Sung-Uk Moon) held a pre-drop auction of the upcoming NFT Korea Festival Artwork. The artwork, created by Equinoz, one of Superchief Gallery’s NFT artists, was sold out in a remarkable 4 minutes. The artwork, entitled ‚Cybernetics‘, was bought out by a collector for 40,120 LM, equivalent to US$ 16,937.

Equinoz is a 3D artist who creates intricate images between virtual and reality, with the theme of “Visible Future”. He is an active artist selling on many other NFT platforms such as Open Sea and Super Rare, and also works in various fields such as games, commercial videos, music, and clothing brands.

The pre-drop event of the NFT Korea Festival was comprised of three NFT auctions, with the first drop being Shavonne Wong’s ‚Light in the Shadow‘ which sold for 65,800LM, the equivalent of US$26,776. As the second drop, Equinoz’s ‚Cybernetics‘ was revealed and started a 7-day auction on January 31st. However, just 4 minutes into the auction, the artwork was bought out, ending the auction early.

The NFT Korea Festival will be held in March, and will feature artwork from other NFT artists such as Equinoz. This festival is sure to be an exciting event, as it will provide collectors and fans with the opportunity to purchase unique, one-of-a-kind artwork from some of the world’s most talented NFT artists.