Every Monday morning, we cover the latest developments and trends in the dynamic and ever-evolving world of cryptocurrency. From price movements, industry news and our favorite resources, we strive to provide our readers with a comprehensive overview of the crypto landscape.
In this issue, we focus on Bitcoin breaking out of its recent price torpor to achieve a 10-week high—roughly regaining all losses since the FTX debacle of November 2022.
The global crypto market cap is $1.33 Trillion.
Additionally, Bitcoin dominance is at 39.3% and Ethereum dominance is at 18.3%.
- Ethereum is currently the top trading pair on NDAX, followed by Bitcoin, Tether, XRP and Shiba Inu.
- Bitcoin (BTC) has seen a gain of 22.49% in the past 7 days, currently trading at $28,061.
- Ethereum (ETH) has seen a gain of 19.56% in the past 7 days, currently trading at $2,085.
- Other notable coins include:
- Compound (COMP) with an increase of 47.36% in the past week.
- Solana (SOL) with an increase of 41.67% in the past week.
- NEAR Protocol (NEAR) with an increase of 38.74% in the past week.
- Avalanche (AVAX) with an increase of 35.45% in the past week.
Bitcoin had its best week in 10 months–or since March 2021.
In the meantime, regulatory crackdowns and lawsuits remain the main activity and focus of the industry at large, namely:
Grayscale’s Suit Against the SEC Heats Up.
The SEC Investigates DGC.
SEC charges Gemini and Genesis with unregistered securities offering.
As Gemini Squabbling with Galaxy.
More Legal Troubles for Disgraced Ex-FTX CEO SBF.
Public Bitcoin Miners Continue Consolidating.
As of 01/16/2023 12:300 AM EST
Keep an eye on the market here 👉 Cryptocurrency Prices
In the cryptocurrency community, there's always something going on. Here are a few events and happenings that you might be interested in:
Looking to learn more about cryptocurrency and blockchain? Here are a few resources that we recommend:
In this issue, we've included a guide on how to protecting your crypto wallet from SIM swap scammers. Follow our tips to keep your funds safe.
This week, we're taking a closer look at Cardano (ADA).
Cardano is a blockchain platform that aims to provide a more secure and sustainable infrastructure for the development and execution of decentralized applications and smart contracts. The platform was developed by IOHK, a company co-founded by Charles Hoskinson, one of the co-founders of Ethereum.
Cardano's native cryptocurrency is ADA, which can be used to pay for transaction fees on the network and to participate in the governance of the platform through a system of stake pools and voting. Cardano uses a unique proof-of-stake algorithm called Ouroboros and is built on a set of scientific principles and formal verification methods. It's been positioned as a third-generation blockchain, that aims to be more energy-efficient, scalable, and interoperable than earlier blockchain platforms.
💫 Feature of the Month - Dollar Cost Averaging
Dollar-cost averaging allows you to buy smaller amounts of an asset over a long period of time at different prices. As the cost of assets moves in a zigzag manner, investing at regular intervals allows you to buy an asset at an average price versus buying a huge chunk at one price point.
🕑 Invest consistently
Recurring purchases are an effective solution for traders looking to invest at an average price over a longer timeframe.
📈 Forget complex price movements
As more institutional and retail investors enter the crypto markets, prices of cryptocurrencies are gaining stability. However, you may still not want to take any significant risks with your money by trying to time the market.
💰 No need for a large sum of money
Investing a considerable amount at once is not possible for everyone. The dollar-cost average approach can be a good choice for investors looking to slowly enter the cryptocurrency market.
For buying crypto, use NDAX.
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It's the safest, most transparent and least expensive marketplace in Canada for bitcoin. Plus, NDAX is the only crypto trading platform in Canada that is Soc 2 Type 2 compliant... (And this--publicly audited by a reputable Canadian accounting firm-- for several years in a row).
Deposits are free, and receive $10 when you fund your account with $100CAD+ Sign up today.
Disclaimer: This email is not intended to provide investment, legal, accounting, tax or any other advice and should not be relied on in that or any other regard. The information contained herein is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of cryptocurrencies or otherwise.