Crypto Market Update – January 2024

February 14, 2024

Welcome to the January edition of our monthly General News Summary! The crypto world has kicked off 2024 with a bang, witnessing remarkable milestones and strategic shifts.

  • Bitcoin has soared to the $50k mark for the first time in over two years, signaling renewed confidence and enthusiasm among investors.

  • Additionally, the lift-off of Bitcoin ETFs has captured the spotlight, marking a significant advancement in mainstream crypto adoption.

  • On the regulatory front, South Africa is gearing up to issue its first batch of FSP licenses to crypto providers, reflecting evolving perspectives on the global stage.

At AltFund, we stay committed to navigating these dynamic developments, focusing on strategic investments in leading blockchain hedge funds. Join us as we dive into the highlights of a month that has set the stage for a promising year in the cryptocurrency landscape.

Bitcoin hits $50k level for first time in more than two years

“Bitcoin hit the $50,000 level for the first time in more than two years as the world’s largest cryptocurrency was buoyed by expectations of interest rate cuts later this year and last month’s regulatory nod for U.S. exchange-traded funds designed to track its price.”

 

Mysterious $1.2M Bitcoin Transaction to Satoshi Nakamoto Sparks Speculations

“The wallet receiving the hefty payout is the address that mined the Bitcoin network’s first-ever block reward some 15 years ago, commencing the start of the blockchain.”

 

Bitcoin Miner CleanSpark Purchases Four Mining Facilities, Set to Double Hash Rate

“Bitcoin miner CleanSpark announced in a February 6 press release that it had acquired four new mining facilities: three facilities in Mississippi and one facility in Dalton, Georgia.”

 

South Africa Gears up to Issue First Batch of FSP Licenses to Crypto Providers

“South Africa is reportedly preparing to issue the first batch of financial services provider (FSP) licences to crypto service providers.”

 

Bitcoin ATM Vulnerability Fixed: Hackers Could Have Gained ‘Full Control’

“Bitcoin ATM maker Lamassu Industries has successfully addressed a vulnerability that could have granted hackers “full control” over its Bitcoin ATM machines.”

 

Binance, KuCoin, Other Exchanges, Served Notice by Indian Government Removed From Apple’s App Store

“Apple has removed Binance, KuCoin and other offshore cryptocurrency exchanges from its India app store days after nine entities were sent compliance show cause notices by the nation’s government.”

 

To the moon? Bitcoin ETFs lift off

“The long-mooted and eagerly anticipated exchange traded funds (ETFs) to track bitcoin got the official go-ahead at last, sending the crypto world into a celebratory mood at what it sees as a game-changer.”

 

Meme Coin Market Bucks Crypto Downtrend With 3.2% Rise, Led by DOGE and BONK Gains

“The meme coin cryptocurrency market has seen a 3.2% uptick in value compared to the U.S. dollar, with the sector achieving approximately $1.25 billion in global trade volume over 24 hours.”

 

EarnBet.io Processed $1 Billion In Bets and Distributed Millions in User Rewards and Rakeback

“EarnBet.io, an online crypto gambling platform today proudly announces that it has processed over $1 billion in bets and transferred millions of dollars in rewards and cashback to its users and token holders, showcasing its dedication to player satisfaction and innovation.”

 

Turmoil in Crypto Market — Misleading SEC Post Triggers Significant Bitcoin Volatility

“Bitcoin’s value experienced a turbulent Tuesday, largely due to a rogue post from the U.S. Securities and Exchange Commission’s hijacked X account, mistakenly proclaiming the green light for all spot bitcoin exchange-traded funds (ETFs).”

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