By Shikha Singh
Bitcoin Exchange Activity Declines Amidst Price Adjustments.
Bitcoin’s market shows reduced selling pressure, with exchange inflows and miner outflows declining significantly since November 2024.
Miners are holding assets, anticipating higher prices, but the subdued trading volume remains a challenge to sustain Bitcoin’s price between $95,000 and $110,000.
Institutional interest has rebounded, with $900 million flowing into Bitcoin ETFs on January 3, 2025, signaling confidence from traditional finance sectors.
While these factors support a bullish outlook, increased trading activity is essential for further price growth.
Bitcoin Gold (BTG) Soars 112% in 24 Hr Amid Upbit Delisting.
Bitcoin Gold (BTG) experienced a dramatic 112.87% price increase within 24 hours, reaching $24.74, ahead of its delisting from South Korea’s Upbit exchange on January 23. The price surge followed volatile trading during early Asian market hours, with the Vol/Market Cap ratio hitting nearly 450%.
Currently, BTG’s market capitalization stands at $433.28 million, while 24-hour trading volume soared by 2158.56% to $1.91 billion. Upbit cited transparency issues, poor disclosure practices, and concerns about the project’s sustainability as reasons for the delisting, classifying BTG as a “warning” asset.
Despite its imminent removal, BTG’s price spike and high trading volume have drawn significant investor attention, marking a surprising development in its market activity.
CoinDCX Users Slam Exchange Over Withdrawal Restrictions and Delayed Support.
Indian cryptocurrency exchange CoinDCX is under fire for restricting crypto withdrawals, with users reporting long delays and unresolved support tickets. These issues have raised concerns about the platform’s KYC policies and regulatory compliance, fueling user frustration. Co-founder Sumit Gupta defended the restrictions, citing potential risks of frozen bank accounts and stating a gradual re-enablement of withdrawals, without providing a timeline.
Solana Dev Unveils Quantum-Resistant Vault to Protect User Funds.
Solana developers have introduced the “Solana Winternitz Vault,” a quantum-resistant feature designed to protect digital assets from future quantum computing threats. Using a hash-based signature system, the vault generates new keys for every transaction, preventing quantum computers from exploiting exposed private keys. This system is based on Winternitz One-Time Signatures, which enhance security by hashing private key scalars multiple times and storing only a hash of the public key for verification.
Crypto Wallet Phantom Quashes Airdrop Rumors After Social Feature Launch.
Phantom Wallet has clarified on its X account that it has no plans to launch a token, dispelling speculation associated with its recent introduction of social features. These features, launched in December, allow users to create profiles, add friends, and set privacy levels. Only Phantom’s mobile app currently supports usernames, but Chrome extension support is on the horizon.
Separately, Phantom announced plans to integrate the Layer 1 blockchain Sui, joining Bitcoin, Ethereum, and Solana among its supported networks.
Ai16z Drops 21% as Smart Money Starts Selling Off.
Ai16z, a meme coin on the Solana blockchain, experienced a significant price correction after soaring over 20,500% since November. Following a peak market cap of $2.3 billion, its price fell from $2.50 to $2 by January 4, a 21% drop. This decline was attributed to decreased buying pressure, profit-taking by “smart money” investors, and high RSI levels signaling overbought conditions.
Nansen data shows smart money holders dropped from 118 in November to 80, with their combined holdings falling from 700 million to under 500 million tokens. Additionally, the number of Ai16z tokens on exchanges surged from 12.32 million to over 43.65 million, indicating increased selling activity.
CertiK Report Reveals December Crypto Losses Dropped to 2024’s Lowest at $28.6 mn.
Crypto-related losses from exploits, hacks, and scams dropped significantly in December 2024, totaling $28.6 million—the lowest monthly figure of the year, according to CertiK. Exploits accounted for $26.7 million, with notable incidents including Gempad ($2.14 million), FBD ($1.07 million), and Vesta DAO ($401,428). Flash loan attacks and exit scams contributed $1.7 million and $200,000, respectively.
Phishing scams continue to pose a significant threat. A top victim lost $7.87 million, with other incidents ranging from $1.4 million to $2.8 million in individual losses. Notable cases included the sharing of malware via KakaoTalk and the use of fake Zoom meeting links, which resulted in losses exceeding $1 million. A fraudulent token scheme compromised even high-profile accounts, such as Animoca Brands’ co-founder Yat Siu, leading to the theft of $500,000.
XRP Takes Center Stage In South Korea, Beating Bitcoin and Dogecoin.
XRP is leading trading volumes in South Korea, surpassing Bitcoin and Dogecoin on major exchanges like Upbit, where its volume reached $606 million, nearly tripling Bitcoin’s $246 million.
The token’s strong performance has attracted significant investor attention, particularly in South Korea’s retail-driven crypto market.
XRP has also experienced a notable price rebound, rising by 24% to near $2.50 after a correction phase.
PENGU Price Soars as Pokémon Collaboration Rumors Take Off.
PENGU has surged over 14% in the past 24 hours, bringing its market cap to $2.57 billion. This increase is largely due to speculation about a potential collaboration between Pudgy Penguins and Pokémon. If the rumors are true, this partnership could significantly elevate the project’s status, potentially driving the coin’s value to $0.10 or beyond.
The potential collaboration has sparked increased interest in PENGU, and if confirmed, it could transform the brand, attract widespread attention, and potentially boost demand and value.
India is All Set to Lead in AI, Says PM Modi.
Indian Prime Minister Narendra Modi announced India’s commitment to leading in Artificial Intelligence (AI), emphasizing innovation and creating opportunities for youth. This statement followed a meeting with Vishal Sikka, former CEO of Infosys, who shared insights on AI’s potential in India. Sikka expressed his admiration for Modi’s understanding of AI’s impact and its alignment with democratic values. In support of this initiative, the Indian government has approved over ₹10,300 crore to strengthen the country’s AI ecosystem. Sikka currently holds roles with Oracle, BMW, and Stanford’s Human-Centered AI Institute.
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