The Last Fortnight in Crypto - January (Part 2)
LATEST NEWS
BITCOIN PRICE HITS 4 MONTH HIGH
More than a week of upside has Bitcoin hitting the highest price we've seen in 4 months. As bullish impulses continued to hit the chart, reactions stayed conservative amid an atmosphere of suspicion over the true source of Bitcoins return to form.
NUMBER OF DEVS INCREASES DESPITE CRYPTO WINTER
A prolonged price decline in crypto asset prices has not dampened the spirits of developers, with the number of developers plying their trade to the blockchain continuing to increase. Ethereum continues to be the dominant blockchain for developer activity, however, a few other chains continued to make ground.
Crypto-related stocks, ETFs and tokens have all surged in price so far in 2023 despite experts expecting the Federal Reserve to continue hiking interest rates. Coinbase is up 69% & MicroStrategy is up 74% since lows as the overall market cap for crypto tipped back over 1 trillion dollars (USD).
Total #crypto market cap is back over 1 trillion dollars!!! 🔥🔥🔥 pic.twitter.com/wS4N9qjA4G
— Lark Davis (@TheCryptoLark) January 17, 2023
DEBTORS RECOVER 5.5 BILLION IN FTX LIQUID ASSETS
Debtors said they had identified $1.7 billion in cash, $3.5 billion in crypto assets and $0.3 billion in securities following FTX filing for Chapter 11 bankruptcy.
Sharing the FTX Debtors’ press release just issued: https://t.co/fcSs36nFmq
— FTX (@FTX_Official) January 17, 2023
CYPTO LENDER GENESIS LAYS OFF 30% OF STAFF
Genesis Trading, a crypto lender, laid off 30% of its workforce due to the prolonged bear market in the cryptocurrency industry. The company will also shift focus to its over-the-counter trading business and its lending platform, which it believes will be more profitable in the current market conditions.
MASTERCARD AND POLYGON PARTNER TO LAUNCH WEB3 ARTIST ACCELERATOR PROGRAM
Mastercard is partnering with Polygon, a scaling solution for Ethereum, to launch an accelerator program for web3 artists. The program aims to support and promote web3 artists, who use blockchain technology to create digital art, by providing them with resources and mentorship. The partnership aims to bring blockchain-based digital art mainstream and to provide a platform for creators to monetise their work.
📢ANNOUNCED AT CES📢
— Polygon (@0xPolygon) January 6, 2023
@Mastercard will launch the Mastercard Artist Accelerator #onPolygon
👉🏾a Web3-based, fan-driven initiative to develop and launch emerging musical artists in the digital economy 🎵 💳https://t.co/oEK7g29XyH pic.twitter.com/D5kRZRtPU4
ETHEREUM DEVELOPERS PLAN FEBRUARY TESTNET LAUNCH FOR SHANGHAI UPGRADE
Ethereum developers are planning to launch a public testnet for the Shanghai upgrade in February. The upgrade aims to improve the efficiency and scalability of the Ethereum network by reducing the amount of data required to validate transactions and by introducing new features to the network. The testnet will be used to test these changes and to ensure that they are ready for the mainnet launch. The Shanghai upgrade is the next step in Ethereum's multi-year upgrade plan, known as Ethereum 2.0, which aims to improve the network's performance, security and scalability. The final launch date for the upgrade will be determined by the results of the testnet and the feedback from the Ethereum community.
METAMASK LAUNCHES ETHEREUM STAKING VIA LIDO AND ROCKETPOOL
MetaMask, a popular Ethereum wallet provider, has launched staking services for Ethereum via Lido and RocketPool. Users will be able to stake their Ethereum assets and earn rewards for participating in the network's consensus mechanism. The staking service will enable users to earn a passive income from their Ethereum holdings without having to run their own validator node. This move is expected to increase the decentralisation and security of the Ethereum network by encouraging more people to participate in the staking process.