Bitcoin ETFs Now More Valuable Than Silver! 👀
Hey Tigers!
Bitcoin ETFs had a stellar first-week run, however the same cannot be said about the coin’s price. Meanwhile, Solana announced a successor to its phone, dubbed “Chapter 2”. Finally, Manta Pacific becomes the third-largest L2, ahead of Coinbase’s Base.
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Bitcoin ETFs done ✅
Bitcoin Halving coming soon ⏳
Curious about what's next for Bitcoin? 🤔
Join in on the discussion with Siddharth Menon, co-founder of Tegro & WazirX, on Monday, 22 January 2024 (TODAY) between 6-7 PM IST.
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📰 News Makers & Shakers
Manta Pacific, the native layer 2 of Manta Network, has overtaken Coinbase’s Base to take hold of the third-largest scaling solution. According to L2Beat, the current TVL on Manta Pacific is just shy of $1.5B and is more than 2x larger than Base’s TVL of just $729M.
Chainlysis’ latest Crypto Crime Report finds that more than $24.2B was transferred to illicit addresses in 2023, accounting for 0.34% of total on-chain transactions in the past year.
Bitcoin ETFs enjoyed a very strong debut after the digital currency overtook Silver to become the second most valuable commodity after Gold in the US ETF market. At the end of its first week, Bitcoin ETFs attracted over $30B inflows, meanwhile, Silver ETFs have combined assets of $11B and Gold ETFs roughly $95B.
A second Solana Mobile has been announced. Dubbed “Chapter 2”, the device hit more than 30,000 pre-orders in the first 30 hours. The new phone will also be Android-based with an in-built dApp store. The Solana Chapter 2 phone will feature crypto-based incentives just like its predecessor with Web3 brands like Magic Eden, Drip, Phantom, and others joining in as sponsors. The device will begin shipping in the first-half of 2025.
🚀 Token Trading Alpha
Ronin ($RON) is the only blockchain proven to scale a single game to accommodate millions of daily active users and has processed over $4B in NFT volumes.
⚡ Volatility: High
💰 Market Cap: $569 Million
🐂 Bullish View: Based on the overall technical approach, it's forming higher highs and higher lows on the day's chart. Price can reach 2.5$ in the short term(Next resistance)
🐻 Bearish View: Ronin currently trading between the range of $1.70 to $2.14. If Ronin breaks the minor support at $1.70, it has more chance to come down to the $1.46 region (38% Fib retracement level)
❗ Note: Ronin had already moved up by 410% in the past 3 months. There is a higher chance of retracement downwards based on the current market condition.
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🎬 And that's a wrap on this week's digest! Stay tuned, and we'll meet in the next one! 📅 Until then, take care, and stay well! 👋💫
Cheers!
Kevin