Crypto Market Overview January 4th | Dex-Trade

Crypto Market Overview January 4th | Dex-Trade

Crypto Market Overview – January 4th, 2022

 

Melania Trump Congratulated Bitcoin on Its 13th Birthday, But There Were Some Curiosities

Former US First Lady Melania Trump tweeted her congratulations on the main cryptocurrency 13th birthday, starting with the fact "that Bitcoin's market cap exceeds USD$1 Trillion," while at the time of the publication of the tweet it was just over $880 billion. Apparently, the tweet was waiting for its publication for about a month, since the last time the volume of funds invested in BTC reached $1 trillion in early December 2021. But outdated information about the main crypto is not the only thing that has caused a serious resonance in the Twitter community. In particular, a flurry of criticism of Mrs. Trump's actions followed from opponents of the policies of her husband and former US President Donald Trump. Recall that when discussing Bitcoin, he did not go into his pocket for a word and publicly stated that he considered BTC "thin air". As a result, one of the commentators on Melania's tweet called it “a pretty cryptic divorce announcement, props,” Nevertheless, despite the dubious informational support of her husband, Mrs. Trump last year successfully launched her own NFT collection on the Solana blockchain and even sold the first collectible lot called “Melania's Vision.”

BTC Trading Volume Nearing Historic Lows: What Does This Mean for The Crypto Community

According to the on-chain analytical company CryptoQuant, the amount of Bitcoins remaining on cryptocurrency exchanges fell sharply at the end of December and now there are only 2.308 million coins on 21 cryptocurrency exchanges, which is only 5,000 Bitcoins more than Decembers’ low. It is noteworthy that the number of traded coins is inversely proportional to the BTC rate. For example, with the November ATH at a cost of $69,000, there were less than 2.4 million Bitcoins on the exchanges, while in August 2020, with a price below $15,000, this figure exceeded 2.8 million coins. But analysts argue that as institutional players return to the market after the holiday break, trading volume and cryptocurrency price should level off and reverse both downtrends at the beginning of the Q1 of 2022. "The market is mostly going to be owned by institutional players, especially in month-to-month price movements, with some profit-taking from early adopters but a much more diminished role coming from retail players." — said the creator of the popular Puell Multiple indicator and crypto analyst David Puell.

Chinese Government Wallet for Crypto-Yuan Listed on Apple Store and Google Market

The beta version of the digital yuan (e-CNY) cryptocurrency wallet is already available in the Apple Store and Google Market in China and supports functions such as opening a personal account, managing finances, exchanging and distributing the Chinese CBDC. The developer of e-CNY was the People’s Bank of China’s Digital Currency Research Institute, an offshoot of China’s central bank. Now you can download the application only in one of 10 provinces of the country, including Shenzhen, Suzhou, Xiong'an, Chengdu, Shanghai, Hainan, Changsha, Xian, Qingdao and Dalian. However, the wallet is also available in the Olympic Winter Games area. The "nimble" Chinese government is launching the CBDC implementation stages exactly as announced. It seems that no fears of politicians and human rights defenders from other countries are able to affect the full-scale integration of the Chinese state crypto into the country's economy. For many market analysts, the concept of an all-government digital renminbi is alarming over the potential for leaking personal user data and exploiting it in China's interests. It looks like the "Big Brother" will get full control over the finances of his citizens.