Daily news update: January 4th, 2022

rules, week, daily, news

Crypto market update

Bitcoin’s adverse price movements continued in the past 24 hours, with the asset dipping below $46,000 briefly. Most larger-cap alts are also slightly in the red. The cryptocurrency market capitalization has remained above $2.3 trillion.

Bitcoin (BTC) is now trading at 47,451 USD (all data from Coingecko.com)

Ethereum (ETH) is now for 3,899 USD

PlatonCoin (PLTC) is now for 0,398 USD

Total marketcap is currently at 2.406 trillion USD

Daily news update

Bitcoin whale bought the dip: The third-largest Bitcoin whale has added 456 BTC at an average price of $46,363 on January 4th. The buy is worth roughly around $21 million. At the time of this writing, the whale holds 120,845.57 BTC worth over $5.6 billion.

Bitcoin’s inflation is lower than U.S.: Bitcoin’s deflationary status is coming into play compared to the United States dollar. With 90% of existing Bitcoin already in supply, the cryptocurrency’s inflation has hit a new low of 1.8%. Elsewhere, U.S. inflation has continued to skyrocket, hitting 6.8% in 2021, the highest value since 1982. Bitcoin stands out with about 3.7 times lower inflation rate.

Solana’s network is down again: Solana has gone down once again, for the fourth time in the last 12 months. According to the Solana community’s telegram group, the DDoS attack may be the main reason behind the downtime on the main network. Users suspect that spam has overloaded the network.

Spain is reducing number of ATMs due to digitization: The number of ATMs in Spain has dropped to its lowest level since 2002, when the network had 1,795 more ATMs than it has today. According to a recent report from the Bank of Spain, the network had 48,081 ATMs at the end of the third quarter of 2021. This reduction has to do with attempts to lower costs in the banking sector amidst a push for digitalization in payments and banking processes.

Estonia calms fears of crypto crackdown: The Estonian Ministry of Finance has issued a statement and FAQ to calm fears of a crackdown on cryptocurrencies within the country. The statement refers to draft legislation introduced by the Estonian government on Dec 23 that aims to “more effectively regulate virtual asset service providers (VASPs) to mitigate the risk of financial crime.” It stresses that the regulation only applies to VASPs, and does not preclude individuals from owning or trading virtual assets through their own private wallets.

Jamaica successfully tested CBDC: The Jamaican central bank successfully completed the pilot testing of its central bank digital currency, a statement from the bank has said. The statement however reveals that only one payment service provider participated in the pilot.

Leave a Reply

Your email address will not be published.

Are you new to the world of digital currencies?

Schedule a half-hour consultation.

Schedule a consultation