Based on the statement that Bitcoin will not return below $20,000, ETH may surpass the $20 trillion cap. Here are some highlights from the crypto market.
Bitcoin News
Macro investment strategist Lyn Alden says she would be surprised if Bitcoin (BTC) dips below $20,000.
In interview Recently, Alden said that as Bitcoin matures, it will be less likely to experience drastic price swings.
“I was a bit surprised when I saw the $20,000 figure. However, I do not rule out this possibility. Bitcoin has fallen 85% historically, but there have also been strong booms.”
Despite his optimism, Alden said that a Bitcoin crash is still possible under certain circumstances if the Fed continues to tighten market developments or the credit market freezes, causing BTC to become illiquid.
Alden’s comments come after Bitcoin fell below the $34,000 region this week. As of this writing, the cryptocurrency is trading around $37,053.
BTC price chart | Source: TradingView
Ethereum News
Renowned American financial analyst and trader John Bollinger tweeted about buying a small amount of Ethereum, the second largest cryptocurrency.
I bought a little $thusd, a rehearsal position last night, with a tight stop – well close for crypto… I liked the pattern on the 6th hour and was looking for an entry. Not a high confidence trade and I’m probably early but the toe is in and I’m focused now.
— John Bollinger (@bbands) January 27, 2022
The veteran trader behind the Bollinger Band indicator claims it is a “testing” position.
Bollinger explained that the bullish pattern on Ethereum’s six-hour chart prompted him to make the aforementioned buy.
ETH may surpass a $20 trillion market cap
Follow report Recently, Ark Invest predicted that Ether (ETH) will reach or even exceed a market cap of $20 trillion within the next 10 years, which translates to a price of around $170,000 to $180,000 per ETH.
The report also predicts big things for Bitcoin (BTC), stating that it has “the potential to scale as countries adopt legal tender. The price of one bitcoin could top $1 million by 2030.”
Ark Invest is a US-based technology-focused asset management firm with $12.43 billion in assets under management.
Binance News
The largest cryptocurrency exchange Binance becomes an official sponsor of the Argentine football team.
#binance is the new global main sponsor of the Argentine Football Federation (@fa | @Argentina) pic.twitter.com/xg5tAbP81u
— Binance (@binance) January 24, 2022
According to an announcement published on Jan. 25, Binance and the Argentine Football Federation (AFA) have signed a cooperation agreement for up to 5 years, making the world’s largest cryptocurrency exchange the world’s largest cryptocurrency exchange.Official sponsor of Argentina National Team and Argentina Football Championship.
Binance said it will also issue fan tokens for the Argentina team and will launch in the near future.
Avalanche News
Avalanche smart contract platform processed 1.1 million transactions as of Jan. 1, according to data from Ava Labs CEO Emin Gun Sirer.
It has now reached 96% of Ethereum’s utilization rate, moving closer to the top of the market.
Avalanche ($AVAX) processed 1.1 million transactions today, about 96% of Ethereum’s load. The average fees for a swap operation were $0.23 on Avalanche and $62.00 on Ethereum.
Let’s build together.
— Emin Gün Sirer🔺 (@el33th4xor) January 28, 2022
According to data from DefiLlama, Avalanche is the 5th largest smart contract platform with a total value of $8.17 billion (TVL).
According to Messari, blockchain recorded an average of 475,000 daily transactions in the fourth quarter of 2021. Ethereum, on the other hand, saw an average of 1.25 million transactions per day.
News Cardano
Despite the questionable performance in the crypto market, the whales on the Cardano network are not ready to let go of their fortunes, adding to the pressure of the correction. Instead, they enter an active accumulation phase.
🐳 #Cardano‘s price how many #altcoins, have plummeted -34% in the last 10 days. However, large addresses hold between 10k and 1M $ADA, have 113% more in their pockets since the January 17 drop and have accumulated $53.6 million in tokens. 📈 https://t.co/9V50jyrBlX pic.twitter.com/tQdwa7ym38
— Santiment (@santimentfeed) January 28, 2022
As Santiment’s on-chain data shows, Cardano whales have increased their positions by around 110% since the massive market drop that began on Jan. 17.
Previously, whales held 45 million ADA tokens and according to current data, more than 95 million tokens are held by them.
News BitDAO
Bybit puts its money and trust in BitDAO and commits to making regular contributions once Bybit’s integration into the Arbitrum L2 network is complete.
Bybit announced via Twitter its $134 million contribution to the BitDAO Treasury in the form of Ether (ETH), Tether (USDT) and USD Coin (USDC) and the completion of the integration of the Ethereum Layer 2 solution Arbitrum .
BitDAO currently has one of the largest decentralized treasuries. Recently it funded zkDAO $200 million to build more on top of zkSync and scale Ethereum.
Bybit is proud to support https://t.co/GPkvYHJvAq. We contributed ~$134 million (in $ETH, $USDT and $USDC) to the @BitDAO_Official Treasury, equals 2.5 basis points futures trading vol. between Nov. 1 and Dec. first thirty.
We promise contributions.
— BYBIT (@Bybit_Official) January 27, 2022
Metaverse Messages
According to the founder and CEO of virtual party platform Party.Space, the future of Metaverse will be the “Microverse Experiences” niche.
Rather than “build a big metaverse and sell land there,” Yurii Filipchuk to sayWeb3 creators should focus their efforts on discovering “the best way to interact online” with online communities.
Each online community builds its own microverse, these communities connect to each other in the network to form a metaverse.
News GamingShiba
Streaming project, NFT and Metaverse GamingShiba (GAMINGSHIBA) has overtaken Bitcoin as the hot token on CoinMarketCap.
GamingShiba hit the top trending on Coinmarketcap
The meme coin’s top trending came when Shiba Inu (SHIB) announced his own Metaverse project, creating a potential point of confusion for investors eyeing FOMO. Despite their similarities in appearance and name, GamingShiba has no relation to Shiba Inu.
GamingShiba is a micro cap meme coin. The project strives to create a connecting bridge between gamers, streaming platforms, NFT and Metaverse. In a request for more information, GamingShiba said they will only disclose how they created this bridge once the project reaches 100,000 owners.
According to Wednesday’s tweet, the project currently has more than 45,000 unique addresses, so investors may need a little more time to learn more about the bridge details.
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