Analysis Triggers a 6% Drop in BTC Value 😮
In today’s edition: 📊 ARB hits record high, 💡 Cramer's new BTC view, 🌟 JUP airdrop incoming, and more!
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What’s Poppin’?
by Sage Young and Brandy Betz
Orbit Chain Announces ‘Significant Clue’ in $81 Million New Year’s Eve Hack
The Dec. 31 breach capped a year when crypto hacks and scams totaled nearly $2 billion, down 50% from the previous 12 months.
Arbitrum’s Native Token Surges 30% in a Week to an All-Time High, Fueled by Market Expectations of EIP-4844
ARB’s milestone comes less than one week after OP, the token of rival layer-2 rollup Optimism, reached an all-time high.
In this episode, Anatoly Yakovenko, co-founder of Solana Labs, Nick White, COO at Celestia, and Chris Burniske, partner at VC firm Placeholder discuss the differences between modular and monolithic, or integrated, blockchains, with Solana epitomizing the monolithic approach and Celestia the modular one. They all agree that both approaches have their merits and will likely coexist, but argue each lends itself to specific use cases and developer preferences. They also discuss what will drive the next crypto bull cycle, and each gives their best predictions for a specific development in the crypto industry in the next few years.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Or watch it on YouTube.
Daily Bits…✍️✍️✍️
📉 Bucking expectations, a Matrixport analyst predicted the SEC will reject all bitcoin spot ETF proposals this month due to unmet requirements and regulatory concerns.
🌐 Jim Cramer revised his stance on Bitcoin, now praising it as a "technological marvel" with enduring relevance.
🚀 Jupiter, a trading platform on Solana, announced an upcoming airdrop of its JUP token by the end of this month.
⛏️ Bitcoin miners CleanSpark and Marathon Digital are launching in-house trading desks to manage their holdings and potentially increase returns, seeking greater control over risk and trading.
🏦 The EU's banking watchdog will dive deeper into connections between banks and crypto entities due to worries about financial instability spreading from non-bank firms.
🚨 DeFi protocol Radiant Capital suffered a $4.5 million hack exploiting a new market activation vulnerability, prompting them to temporarily suspend lending and borrowing activities on Arbitrum.
🗳️ A survey suggested that crypto enthusiasts lean towards Democrats for Congress but show a preference for Trump as president.
💹 For the first time since the previous year, crypto exchange volume soared to a record $1 trillion.
💥 The surge in Bitcoin's price to over $45,000 triggered short liquidations exceeding $73 million.
🎣 The founder of Nest, a security-focused crypto wallet app, lost $125,000 in a phishing scam involving a counterfeit LFG token.
The $$$ Corner…
📊 Blockchain data giant Etherscan acquired Solana explorer Solscan to broaden its reach and provide more accessible data across multiple networks.
🎮 Playbux will look to raise $150,000 in funding through a "fair community offering" instead of an ICO, giving engaged users pre-listing access to tokens based on their on-chain activity and platform contribution.
What Do You Meme?
Recommended Reads
@punk6529 on why NFTs are the “internet moment” for art
Todd Groth on CoinDesk: Crypto Market Outlook 2024: ETFs Offer Tailwinds for Other Digital Assets
Rem Sadykhov on Decentralized Token Economy Theory
📈 Your Market Update 📉
BTC is down 6%, trading at $42,662
ETH is down 6.2%, trading at $2,237
BTC dominance: 48.86%
Crypto market cap: $1.7T
*All data as of today, 8:00 am ET. Source: CoinGecko
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