News & Research

An address presumed to belong to Bitmain purchased an additional 20,000 ETH, worth $65.4 million, from Kraken nine hours ago, Lookonchain reported.

U.S. spot Ethereum ETFs recorded a net inflow of $4.7 million on Jan. 16, marking the fifth consecutive day of inflows, according to data from Farside Investors. By fund, BlackRock's ETHA saw an inflow of $14.9 million, while Grayscale's ETHE experienced an outflow of $10.2 million.

Pressure from President Donald Trump to lower interest rates could undermine the Federal Reserve's political independence, potentially leading to a weaker U.S. dollar and benefiting Bitcoin, according to a DL News report. André Dragosch, head of research for Europe at Bitwise, described this possibility as the "Erdoğanization of the Fed," drawing a parallel with the Turkish government's interference in its central bank. In Turkey, the collapse of central bank independence triggered a sharp currency devaluation and high inflation, which in turn led to a surge in demand for Bitcoin. Dragosch noted that a weakening of Fed independence structurally implies higher inflation and a weaker dollar, which he views as a positive for Bitcoin. The analysis suggests that if the Fed chair is replaced or succumbs to political pressure, BTC could emerge as a prominent alternative asset.

Liquidity for spot Bitcoin ETFs has not yet recovered, according to an analysis by Mignolet, a crypto analyst and CoinNess Content Creator (CC). The analyst noted that Fidelity's FBTC and Ark Invest's ARKB, two ETFs that most directly influence Bitcoin's price, have seen stagnant inflows. FBTC has not surpassed its high from March 2024, while ARKB has been in a downtrend since July 2024. Mignolet pointed out that this trend is similar to the stock price pattern of Strategy, which failed to rebound for a year after hitting a new high in November 2024, signaling a significant weakening of liquidity. The analyst stated that the level of liquidity many expect has not yet returned. While BlackRock's IBIT trades are mostly conducted over-the-counter (OTC) and do not directly drive up the price, Mignolet argued that the price would likely have fallen more sharply without IBIT's buying pace. However, the analyst warned that IBIT's liquidity has also weakened. Although short-term inflows could resume, the overall trend remains negative. If there is insufficient demand to absorb OTC sales, this supply could flood the spot market.

Japan's largest credit card company, JCB, has begun testing payments using U.S. dollar and Japanese yen-pegged stablecoins at physical stores, the Nihon Keizai Shimbun reported. For the initiative, JCB is collaborating with banking group Resona Holdings and IT services firm Digital Garage.

The number of new Ethereum addresses has surged over the past 30 days, leading to a distinct increase in network activity, CoinDesk reported. The outlet's analysis suggests this indicates an influx of new investors and reflects expanding public interest in DeFi, stablecoin transfers, NFTs, and other applications.

Crypto lender Nexo has been fined $500,000 by California's Department of Financial Protection and Innovation (DFPI) for unlicensed lending and violating consumer protection laws, Cointelegraph reported. The DFPI stated that from July 2018 to November 2022, Nexo issued 5,456 consumer and commercial loans to state residents without a license. The agency also noted that the company failed to assess borrowers' financial status, including their ability to repay, existing debts, and credit history, before providing the loans.

CoinMarketCap's Altcoin Season Index has dropped three points from the previous day to 26. The index determines whether it is an "altcoin season" by comparing the price performance of the top 100 coins by market capitalization, excluding stablecoins and wrapped tokens, against Bitcoin. An altcoin season is declared when 75% of these top coins outperform Bitcoin over the past 90 days. A score closer to 100 indicates a stronger altcoin season, while a lower score suggests a "Bitcoin season."

X is revamping its API policy to prohibit so-called InfoFi (Information + Finance) applications, according to its Head of Product, Nikita Bier. He stated that these apps, which reward users for engagement, are no longer permitted and that their API access has been revoked. The move has impacted the InfoFi ecosystem, with the price of Kaito (KAITO) plummeting more than 14% following the announcement. In a related development, CookieDAO (COOKIE) announced it is terminating its 'Snaps' service, a feature that measured and rewarded the influence of key opinion leaders (KOLs).

XRP could rally to $2.8 by the end of this month as its technical indicators show bullish signals, according to an analysis by Cointelegraph. The XRP/USD daily chart broke out of a falling wedge pattern on Jan. 1. The analysis suggests that if the token maintains support at the $2 level, it could see further gains to $2.4 and then $2.7. Additionally, a bull flag pattern has formed on the eight-hour chart, indicating a potential rise to $2.8 following a breakout above $2.15.