We compile the top news stories weekly within the crypto, blockchain, metaverse, and NFT space. The weekly wrap-up covers everything from BTC & ETH updates, recent investments, developments of exciting new projects, and other relevant topics.Here is everything you need to know for the week of January 1st to 5th.
📈 Weekly BTC and ETH Overview
Thursday, January 4th, Bitcoin substantially declined, fluctuating over 10% within 24 hours. Although the crypto market has not breached any notable support levels, analysts say it is crucial to investigate the reasons behind this shift and understand its implications, especially with the ETF rumors the past week. Ethereum has faced a notable challenge as its price met a crucial resistance at $2.4K, resulting in an extended consolidation phase within this crucial range. Analysts also say the current scenario and the optimistic outlook in the futures market have raised anticipations of a potential bullish breakout.
At the time of writing, BTC is trading at $43.9K, without movement at 2.08% in the last 24 hours. Similarly, ETH is trading at $2.25K, without movement at 1.5% in the previous 24 hours.
🗞️ Top Market News
- Aaron Schnarch, Head of Custody at Coinbase Global Inc., leaves the company. Coinbase's custody head, Aaron Schnarch, left and was replaced by Rick Schonberg from Goldman Sachs, while Coinbase, favored by major Bitcoin ETF applicants, is preparing for spot Bitcoin ETF services. Read more here.
- MicroStrategy to witness share sales as Michael Saylor offloads nearly $216M. Michael Saylor is divesting nearly $216M in MicroStrategy Inc., the software firm he co-established and transformed into the leading publicly traded holder of Bitcoin. A Tuesday filing indicated that the 315K shares were obtained through stock options. Read more here.
🚀 New Project Developments
- The Volan upgrade on the Injective Testnet was successful. The Volan Upgrade is now in full swing on the Injective Testnet and is considered the most extensive mainnet upgrade in Injective's history. Read more here.
- Solana welcomes Unibot's new trading bit Bot implementation. The Bot aims to provide ease of use and innovative features, setting it apart from competitors. The advancements target on-chain trading pain points, offering users efficiency and profit potential. Read more here.
- Celsius to unstake significant ETH amounts to offset restructuring-related costs. Analysts say Ether (ETH) prices may rise soon as Celsius plans to unstake its holdings in the second-largest cryptocurrency, removing a factor contributing to recent underperformance. Read more here.
🔍 More Featured Stories…
- IRS mandates data reporting for crypto transactions exceeding $10,000 in 2024. Provisions from the infrastructure bill signed into law by President Joe Biden are now active, mandating the reporting of digital asset transactions exceeding $10,000 to the IRS. Read more here.
