:format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/Z2T3L4KAOZD3LHUTKWE4FVTA34.jpg "Leader in Asia: Short Altcoin Squeeze Brings Green Shots to Bed Cryptocurrency")
© Andrew Dennes (@velodenz) Are there signs of green shoots in the cryptocurrency markets or is it short term? (Vélodens/Creative Commons)Hello. What is happening:
Price: SOL Solans and altcoins, including Serum's SRM, benefit from the first mini-altcoin rally of the year. Short press the extra fuel.
Outlook: Alex Thorne, head of research at cryptocurrency investment firm Galaxy Digital, told CoinDesk that startups and commerce services on the Web3 blockchain could continue to generate venture capital and funding deals in 2023.
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The Mini Cryptocurrency Rally is excited for the first time in months
Sam Reynolds
Everyone has a second chance in cryptocurrency.
Solana was on her deathbed a few weeks ago. As 2022 approaches, rival Ethereum at the center of the Sam Bankman-Freed token world has lost more than 90% of its value. The most vocal fans, such as Sino Global Capital, can squeeze themselves into the role of major owners.
But now, according to data from CoinDesk, the Solana SOL token is surging as cryptocurrency markets struggle to recover from a months-long hiatus. The protocol token has increased by 11% in the last 24 hours and by 46% in the last two weeks. As CoinDesk previously reported, there is a lot of transaction activity on the network, with the number of active users increasing by 40% over the past two weeks. Silly meme coins like the Shiba Inu themed BONK token that brought 1000% profits to liquidity providers like DeFi Summer 2021 have a lot to do with it.
Along with Solana's comeback story, other major cryptocurrencies are also doing well. Bitcoin (BTC) is slowly moving towards $20,000 after recently breaching the $17,000 mark, while Ether (ETH) has gained 3% to $1,326 in the last 24 hours. Altcoins got a boost from short-term pressure. The CoinDesk Market Index (CMI) is up 1.2% over the past 24 hours.
All this also contributes to the rise of cryptocurrency-related miner stocks. Of course, by 2022 most of them will be reduced by 80%, but the recovery starts with green shoots.
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Galaxy Digital's head of research expects more project funding for Web3 companies this year
Fran Velasquez
According to Alex Thorne, head of research at cryptocurrency investment firm Galaxy Digital, Web3 blockchain startups and business services drove deals and funding in 2022, a trend that could continue this year.
On Monday, CoinDesk TV's Thorn Pathfinder said Web 3, non-fungile tokens (NFTs), decentralized autonomous entities and online gaming will account for 31% of transactions in 2022, and 13% of exchanges. . . .
Venture capitalists have invested more than $30 trillion in cryptocurrency and blockchain startups in 2022, according to Galaxy's "Crypto VC Year End" report.
However, Thorne noted that the number of transactions and the amount of money invested continued to decline each quarter until 2022, citing macroeconomic factors as well as the fall of major cryptocurrency companies as contributing to the decline.
Read the full story here .
important events
09:10 HKT/SGT (01:10 UTC) Speech by Bank of Japan Governor Kuroda
23:30 HKT/SGT (15:30 UTC) Australia Monthly CPI (Y/Y/Nov)
12:30 HK/Singapore (16:30 UTC) CPI China (y/y/avg)
CoinDesk TV
In case you missed this latest episode of CoinDesk TV's First Mover:
DCG is reportedly being investigated by US authorities; Bitcoin has crossed $17,000
According to Bloomberg, officials from the US Department of Justice and the US Securities and Exchange Commission in the Eastern District of New York are investigating transfers between Digital Currency Group and a subsidiary of Genesis Group. Genesis and CoinDesk are both owned by parent company Digital Currency Group. Gautam Chogani spoke about Bernstein. Meanwhile, the price of bitcoin (BTC) has crossed $17,000 and crossed a three-week range. In addition, CoinDesk researcher George Kaludis and Galaxy Digital head of research Alex Thorn chose 2022 as the year of cryptocurrency.
Nicknames
After being hammered by the FTT, Serum tokens sent the altcoin soaring, sparking a brief squeeze : Traders liquidated $245 million in short positions, according to Coinglass.
Crypto Market Analysis: Falling Inflation Expectations May Show Bitcoin's Fragility Consumer inflation expectations are slowly declining, potentially removing a potential prophecy from the Fed's worry list.
CFTC charges Mango Markets scalper with market manipulation: The US Commodity Futures Trading Commission (CFTC) on Monday filed market manipulation charges against Mango Markets scalper Abraham Eisenberg after he was arrested by the US Department of Justice (DOJ).
Galaxy Digital's head of research expects an increase in venture capital funding for Web3 companies this year : the sector will lead in venture capital funding in 2022, the company's report says.
CoinDesk Research Crypto Review for 2022: Although 2022 was a bear market, it was eventful for all aspects of the cryptocurrency industry.
As for FTX, Robinhood is worth about $500 million: the shares were owned by Sam Bankman-Fried and FTX co-founder Gary Wang through a holding company.
About 117 parties interested in buying FTX units have shown court documents: LedgerX and FTX Japan's urgent attempts to sell have filed a legal challenge.
Loudest Ethereum trade of the past week: The so-called whales placed a large order to buy Ether-linked put options to protect against the price falling below $400 at the end of June.
Capital Bank's exit from cryptocurrency : The bank cited recent developments in the cryptocurrency industry as one of the reasons for the decision.