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Crypto Outlook

  

BTC: $21,835.69

ETH: $1,533.89

XRP: $0.3821

LTC: $93.37

The global crypto market cap is $1.02T, a 0.76% increase over the last day. The total crypto market volume over the previous 24 hours is $32.40B, which makes a 34.67% decrease.

BTC: BTC price increased by 0.51% over 24 hours and decreased by 6.75% in the past seven days. The asset reached a low and high of $21,657.53 and $21,891.41, respectively.

Publicly listed companies updated their production details for 2023. According to a new analysis from Hashrate Index, there was steady growth in the hash rate and a sudden increase in BTC production compared to December.

As the bullish phase started and pushed the price above the $23000 mark, most of the public miners increased their bitcoin production in January. CleanSpark, America’s leading sustainable bitcoin mining company, increased its BTC production by 50%, reaching a record monthly production of 697 Bitcoins.

Leading the BTC production, Core Scientific mined 1,527 coins, followed by Riot, the second-biggest producer, mining 740 Bitcoins in January. Marathon and Cipher generated 687 and 343 Bitcoins in January compared to 475 and 225 in December.

ETH: ETH price increased by 6.08% over 24 hours and decreased by 8.25% in the past seven days. The asset reached a low and high of $1,513.75 and $1,541.33, respectively.

As per the data provided by DefiLlama, a DeFi TVL aggregator, Rocket Pool, an Ethereum staking service, exceeded a total value locked of one billion dollars.

The project development took less than two years following the introduction of the main net on November 9, 2021.

Rocket Pool offers a liquid staking solution for Ethereum that allows customers to either join an existing Ethereum decentralized node operator or run their own node.

Users can run their own node with just 16 Ether (ETH), as opposed to the network-specified 32 ETH, and another 16 ETH comes from a pool of users who join a decentralized node operator.

XRP: XRP price increased by 0.14% over 24 hours and decreased by 7.17% in the past seven days. The asset reached a low and high of $0.3809 and $0.3841, respectively.

WhaleAlert provided the data showing crypto whales moving more than 161 million, approximately $62 million at the current price, in multiple transactions. The single most significant transaction tracked was of moving 39 million approx, worth $15 million, from the Bitso crypto exchange.

Crypto Whales were seen dumping around 100 million XRP, approximately $37 million, around 9th and 10th Feb. Around 69 million XRP approx, worth $28 million, were moved to the Bitstamp crypto exchange. At the same time, 27 million XRP approx, worth $11 million, were dumped on the Bitso crypto exchange.

LTC: LTC price increased by 0.39% over 24 hours and decreased by 5.47% in the past seven days. The asset reached a low and high of $93.04 and $94.71, respectively.

As of December 31, 2022, Fintech giant PayPal held million in various cryptocurrencies, including BTC, ETG, LTC, and BCH, on behalf of its customers.

The company revealed its holdings in its annual report, filed with the U.S. Securities and Exchange Commission. The lion’s share of PayPal users’ cryptocurrency holdings, with BTC accounting for $291 million in the firm’s assets. $250 million were held in ETH, while $63 million were held in LTC and BCH.

Paypal’s financial assets stood above $25 billion. This is the first time PayPal included a breakdown of cryptocurrency holdings in its filing, despite launching its crypto features back in October 2020.

PayPal, in its filings, wrote:

Due to the unique risks associated with cryptocurrencies, including technological, legal, and regulatory risks, we recognize a crypto asset safeguarding liability to reflect our obligation to safeguard the crypto assets held for the benefit of our customers.


Vantage does not represent or warrant that the material provided here is accurate, current, or complete, and therefore should not be relied upon as such. The information provided here, whether from a third party or not, is not to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any financial instruments; or to participate in any specific trading strategy. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. We advise any readers of this content to seek their own advice. Without the approval of Vantage, reproduction or redistribution of this information is not permitted.

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