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Market Highlights January 24: Cryptos crushed and US markets plunge

After registering losses over the past few days, all top 10 cryptos were lower this morning. On Friday, the UK 100 suffered a heavy fall. This was due to a global stock market sell-off. US markets plummeted last week as investors watched yields rise, particularly inflation-linked ‘TIPS’ bonds that indicate future borrowing costs for companies.…

After registering losses over the past few days, all top 10 cryptos were lower this morning. On Friday, the UK 100 suffered a heavy fall. This was due to a global stock market sell-off.

US markets plummeted last week as investors watched yields rise, particularly inflation-linked ‘TIPS’ bonds that indicate future borrowing costs for companies.

Top cryptos

Most top 20 coins have lost between 8% and 15% of their value in the last 24 h. Bitcoin lost 5. 50% today, trading just below $34,000 at the time of writing. Cardano registered losses of 13%, bringing its weekly loss to 36%.

Solana has lost almost 20% today, bringing its weekly loss to almost 40% and slipping under $90 for 1 SOL. Network congestion continues to plague the Solana blockchain. The market slump has caused the token to fall nearly 60%, since it reached an all-time high of November 2021..

It has also fallen to eighth place and now has a fully-diluted market cap of less $45 trillion according to CoinMarketCap data.

Top movers

All top 100 currencies have lost their value. The biggest losers outside the top 20 are Harmony (-19%) and Theta Network, Curve Dao Token, THORChain, and Quant (all -17%).

Trending

Obsidium (OBS) is the biggest winner today. It’s an ecosystem and layer-2, serverless, cross-chain solution that fuels DeFi, AMM and NFT spaces.

Its benefits include infinite scaling, sub-second confirmation times, and fees at a tenth the cost of a cent. It is 979% today.

The token of Moss Carbon Credit (MCO2), which aims to promote the preservation of the environment through a market solution, is trading for $18. 54 was added to its value. 135% was also added.

VELO is the token of Velo Labs. They are creating a unique federated financial exchange network. It trades at $0. 066 with a 24-hour trading volume of just under $31 million. It is up 35% in the last 24 hours.

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Bitcoin

Max Keiser Warns of Government Seizing Bitcoin in ETFs — Predicts 1987-Style Crash as BTC Rises to $500K

Bitcoin proponent Max Keiser has warned of potential government seizure of bitcoin held in spot exchange-traded funds (ETFs). He additionally issued a stark warning about a looming 1987-style crash, while simultaneously predicting that the bitcoin’s price will surge past $500,000. Max Keiser’s Crash and Bitcoin Seizure Warnings Bitcoin advocate Max Keiser expressed concerns about spot [……
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Bitcoin

Satoshi Correspondence Revealed by Witnesses in Legal Clash Against Craig Wright

In the unfolding lawsuit between the Crypto Open Patent Alliance (COPA) and Craig Wright, three key witnesses who had early interactions with Bitcoin’s creator, Satoshi Nakamoto, provided their testimonies. Among them were early Bitcoin developers Martti Malmi and Mike Hearn, as well as Adam Back, the creator of Hashcash…
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Bitcoin

Lumerin Announces New Integration With Portal DEX for Decentralized Bitcoin Mining and Cross-Chain Hashpower Trading

PRESS RELEASE. CHICAGO – Feb 22, 2024 – Lumerin, a decentralized Hashpower Marketplace built on Arbitrum that has built technology to make Bitcoin hashrate a liquid asset allowing for global access to peer-to-peer, decentralized hashrate trading, today announced a new integration with Portal, the first trust minimized…
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