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Weekly TL;DR | Jan 9-15, 2023

Jan 16, 2023
byNDAX Labs

📢 Weekly TL;DR

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.

📈 Weekly Moves

Market Summary:

The global crypto market cap is $1.33 Trillion.

  • The cryptocurrency market has declined in the last 24 hours, with the total volume reaching $64.48 Billion, representing a decrease of 25.45%.

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.

Market Trends:

  • 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

📰 Community News

In the cryptocurrency community, there's always something going on. Here are a few events and happenings that you might be interested in:

  • Can Canada stay a crypto mining hub after Manitoba’s moratorium? - Local stakeholders believe that a crypto mining moratorium might actually mean the beginning of a new dialogue between the government and the industry. - Cointelegraph

  • Climate tech VC argues Bitcoin’s ESG positives outweigh its negatives 31:1 -The Bitcoin network has a 31:1 positive to negative ratio, according to climate tech VC Daniel Batten. - Cointelegraph

  • Polygon’s Blockchain to Undergo Hard Fork - The software upgrade scheduled for Jan. 17 will address gas spikes and chain reorganization. - Coindesk
  • One of the largest US colleges has begun teaching students about Bitcoin - The professor said a “Programming Bitcoin” course will follow the first Bitcoin course, where students will learn how to “build a Bitcoin library from scratch.” - Cointelegraph

📖 Educational Resources 

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.

📑 Customer Support

This week, we have updated several articles in our support center to provide our users the most accurate and helpful information. In case you missed it, here are the articles that have been recently changed: 

Additionally, these are the most popular articles among our users this week: 

As always, if you have any further questions or need additional assistance, our support team is here to help – just reach out via email at [email protected].

💡 Weekly Coin Profile

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.

  • Largest platform in Canada by volume (i.e. deep liquidity and paper-thin spreads)
  • 0.2% trade commission across the board. No hidden fees/markups.
  • Intuitive UI (+ advanced orders/ technical tools for traders)

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.