• Bitcoin price started a fresh increase above the $24,000 zone against the US Dollar.
• There was a break above a crucial bearish trend line with resistance near $21,950 on the 4-hours chart of the BTC/USD pair.
• The bulls gained pace for a move above the $25,000 zone and formed a high near $26,533.

Bitcoin Price Analysis

Bitcoin price started a steady increase from the $20,000 support zone. The price gained and cleared many hurdles near the $22,500 and $23,500 levels. There was a clear move above the $24,000 level and the 55 simple moving average (4-hours). Besides, there was also break above a crucial bearish trend line with resistance near $21,950 on the 4-hours chart of the BTC/USD pair.

Upside Move

The bulls gained pace for an upside move above the $25,000 zone and formed a high near $26,533. Recently there was downside correction below the$25,500 level where it declined below 23.6% Fib retracement level of upward move from swing low to high. The price is now trading back above 23k while immediate resistance can be seen at 25250 level.

Support Levels

If there is no upside break then Bitcoin might start downside correction below 24400 mark which could further push prices down towards 23k area which is close to 50% Fib retracement level of upward move from swing low to high. Any more losses could take prices towards 22k support zone as well.

Resistance Levels

The first major resistance can be seen at 26k where if it breaks out then bitcoin will rise towards 27800 zone followed by 28000 mark as well in short term future.

Conclusion

Bitcoin is currently showing positive signs above 24k against US Dollar however if it fails to breakout 25250 mark then downside correction can be expected in short term future .

Summary

• Union Finance Minister Nirmala Sitharaman of India has stated that crypto regulation needs to be a group effort.
• Her comments come in response to the recent collapse of FTX, which highlighted weaknesses in accounting procedures.
• However, many are concerned that global regulation will take a long time and disrupt the freedom of the cryptocurrency space.

Nirmala Sitharaman: Crypto Regulation Must Be a Group Effort

Union Finance Minister Nirmala Sitharaman of India commented that crypto regulation has become a major priority for several finance ministers and central bank governors of G20 countries. She commented that during this year’s summit, crypto regulation is likely to be a hot topic that many of them will discuss. Nirmala Sitharaman also noted that crypto regulation will likely have to be a group effort; there are many countries out there (such as the United States and the United Kingdom) that are working to implement their own plans. However, she believes for it to really work, every developed nation needs to step in and take part in a global regulatory initiative.

FTX Collapse Highlights Need For Crypto Regulation

Crypto regulation has become an even more pressing topic ever since the collapse of FTX – now defunct crypto exchange. Many people are worried about what happened and claim that if such a fall could occur with FTX, then virtually no crypto company is safe. One of the big issues with FTX was its weak accounting procedures which allowed former head executive and founder Sam Bankman-Fried to use customer funds to pay off loans for his other company Alameda Research as well as invest in luxury Bahamian real estate. He is currently awaiting trial at his parents‘ home after being charged with fraud.

Concerns Over Global Crypto Regulation

The problem with global crypto regulation is twofold – it goes against all cryptos stand for by allowing middlemen into the mix and would also take an incredibly long time before it’s implemented on an international scale. Edul Patel – co-founder & CEO at Mudrex – thinks it would take quite some time before laws foster responsible growth & innovation while Rajagopal Menon – VP at Wazir X – adds “With India as president [of G20], we hope they push towards setting up global standards” when referring to potential global regulations coming into effect soonish.

Conclusion

• The eCash network is a Decentralized Finance (DeFi) solution that is expected to scale up transaction speed while reducing costs.
• On January 30, 2023, the Avalanche Pre-Consensus upgrade was announced on the eCash network, which reduces confirmation time from 10 minutes to a few seconds.
• The Avalanche Post-Consensus upgrade provides 51% attack prevention on the eCash network and operates using individual nodes forming a consensus to finalize blocks.

What Is eCash?

eCash is a Decentralized Finance (DeFi) solution created to support Ethereum Virtual Machine (EVM) compatibility. It aims to scale up transaction speed while reducing costs for crypto users. Currently, it trades at $0.00003694 in the last 24 hours and has recorded progress in February 2023 with its 30-day high at $0.00004428 and its 30-day low at $0.00003424.

Avalanche Pre-Consensus Upgrade

On January 30, 2023, the Avalanche Pre-Consensus upgrade was announced on the eCash network which offers almost instant transaction finalization where transactions are irreversible once finalized. It reduces confirmation time from 10 minutes to just a few seconds, making it faster than Proof-of-Work reliant cryptos like Bitcoin (BTC).

Avalanche Post-Consensus Upgrade

The Avalanche Post-Consensus upgrade provides 51% attack prevention on the eCash network and operates using individual nodes forming a consensus to finalize blocks on the network. If random or late blocks appear on the network during an attack, miners will agree to ignore these and validate each transaction before adding it to a block thus ensuring security against malicious activities.

Impact of Upgrades on Price Trend

The recent price gains of eCash can be attributed largely due to different factors related to its upgrades such as faster confirmation times and improved security measures offered by both Avalanche Pre & Post Consensuses upgrades respectively. This has increased confidence among investors in terms of reliability and trustworthiness of transactions taking place over the eCash Network .

Conclusion

eCash continues its growth trajectory with positive performance being recorded in February 2023 despite current market slump with its 30 day high at $0.00004428 & low at $0.00003424 . The recent upgradation of both pre & post consensuses have had positive impact on price trend hence increasing investor confidence in terms of security and reliability offered by this blockchain technology platform .

• The Graph (GRT) is a platform for indexing data stored on blockchains that are open source and decentralized.
• GRT has increased in value by more than 9% since yesterday, recouping all losses from the previous days and once again trading at $0.18.
• It is an exciting project in the blockchain and cryptocurrency world, and the price of The Graph may reflect this intrigue.

The Graph (GRT): An Overview

The Graph (GRT) is a platform for indexing data stored on blockchains that are open source and decentralized. The goal of the network is to facilitate querying on Ethereum and to make it possible for developers to build several APIs known as subgraphs that cater to a variety of questions. The Graph is now capable of indexing data from Ethereum, IPFS, and POA, with plans to support more networks in development. To finance development of the network, The Graph raised money from strategic venture capitalists, community members, and influential people in the blockchain industry. GRT will operate as an ERC-20 token on the Ethereum blockchain to facilitate distribution of network resources.

Price Appreciation

GRT has increased in value by more than 9% since yesterday, recouping all losses from the previous days and once again trading at $0.18 with a market valuation of over $1.5 billion dominating the artificial intelligence and big data subsector of the cryptocurrency market – with its price rising by almost 200% since start of year 2021. Its session high was recorded at $0.23 on February 8; also its highest price within last nine months period.

Earnings Distribution

Earnings from the network are distributed to Curators, Active Indexers, & Delegators based upon quantum work contribution & quantity staked GRT tokens respectively; query costs for subgraphs signalled by curator are split with curator while indexers rewarded through incentives & rewards system set up by The Graph protocol itself .

Investors Involved

Some investors who have contributed towards this effort include Coinbase Ventures, Framework Capital DCG Tally Capital CoinFund ParaFi Capital Multicoin DTC SPC & Reciprocal Ventures etc..

Potential Impact On Price

The Graph Network provides unique utility making it an exciting project in blockchain & cryptocurrency world which could be reflecting in its prices appreciation , thus suggesting further potential growth going forward .

•Algorand (ALGO) is a decentralized network that solves the blockchain trilemma by providing scalability, security, and decentralization.
•ALGO has seen impressive growth since the start of 2023, leading to an increase in TVL and investors.
•At the time of writing, ALGO is trading at $0.28 , with a market capitalization of $2,023,028,615.

What is Algorand?

Algorand (ALGO) is a decentralized network that solves the blockchain trilemma by providing scalability, security and decentralization. The ALGO ecosystem is powerful and growing steadily in terms of TVL even after passing through a series of bearish moves. It uses pure proof of stake with a difference in consensus process and offers smart contract functionality which gives access to dApps making valuable blockchains for various financial activities and users. Recently it has launched cross-chain communications and translation speed improvements along with stake proofs implementation which helps work with other blockchains smoothly.

Market Performance of Algo

Since January 2023, ALGO has been up 41% to date. The market price is characterized by a series of higher lows and higher highs on an upward trend. At the time of writing, the ALGO market price is trading at $0.28 , with a low of $0.25 in the past 24 hours . ALGO has a trading volume of $236 , 466 , 201 with a market capitalization of $2 , 023 , 028 , 615 representing 0 .178 % market dominance . The coin hit its all-time high in June 2019 but has been declining since then .

Can Algo Reach Its All Time High?

Given its impressive performance since 2021, many investors have been wondering whether or not ALGO can reach its all-time high again ($3 .56). While predicting crypto prices can be difficult due to their volatile nature; however one can say that if ALGO continues on its current trajectory then it could easily surpass its ATH once again especially as more people get interested in cryptocurrencies as investments due to their potential returns compared to traditional assets such as stocks or bonds .

Risk Factors

However, there are also certain risk factors to consider before investing into any cryptocurrency including ALGO such as regulatory risks or technological advancements that may affect prices negatively so it’s important for investors who decide to invest into this asset class to do their research thoroughly before making any decisions .

Conclusion

In conclusion , Algorand (ALGO) seems to be breaking new grounds and reaching new heights every day; however whether it will reach its ATH remains uncertain given the highly volatile nature of cryptocurrencies but if everything goes according to plan then there’s no reason why it shouldn’t reach those levels once again given enough time .

• Optimism (OP) has seen substantial increases in its value, with a 41% gain over the past month and an all-time high of $2.50 on Jan 25, 2023.
• Investor holdings have increased 147% over the past 30 days as investors anticipate further upside potential for the price of OP.
• Optimism is a layer 2 protocol running on Ethereum that facilitates off-chain transactions, allowing for better throughput and avoiding network congestion.

Optimism Price Surge

Optimism (OP) has seen substantial increases in its value, with a 41% gain over the past month and an all-time high of $2.50 on Jan 25, 2023. Investor holdings have increased 147% over the past 30 days as investors anticipate further upside potential for the price of OP. 24-hour exchange volume has also skyrocketed to $700 million signifying that many people are expecting it to reach yet another record high soon.

What Is Causing The Price Rally?

The recent surge in optimism’s price may be due to several factors such as a positive market overall and the popularity of layer-2 protocols such as Polygon and Optimism amongst developers and investors alike. As a Layer 2 protocol running on Ethereum, Optimism enables off-chain transactions which can help scale solutions while avoiding main net gas and resulting network congestion by batching up transactions which are presumed to be legitimate until proven otherwise with fraud proofs.

What Does This Mean For Investors?

The increase in investor holdings along with large trading volumes indicates that many people are taking bigger risks and expecting prices to reach new highs soon. As optimism is still relatively young, there is much potential for further growth in 2023 if market conditions remain favorable and more improvements are made to their platform.

How To Invest In Optimism?

To invest in optimism, you will need to buy tokens from a cryptocurrency exchange such as Coinbase or Binance using fiat currency or other cryptocurrencies like Bitcoin or Ethereum. You will then need to transfer these tokens into your own wallet so they can be securely stored until you decide when you want to trade them back into fiat currency or other cryptos depending on what you wish to do with them at that time.

Conclusion

Optimism is one of many layer two protocols gaining traction in 2023 given its ability to facilitate efficient off-chain transactions without network congestion issues arising from main net gas fees charged by Ethereum’s blockchain technology . With large trading volumes signaling increased risk appetite from investors along with improved scalability measures being implemented this year, there appears much promise ahead for those who decide now is a good time to get involved in this project before prices rise even higher than before .

• The U.S. Securities and Exchange Commission (SEC) has charged crypto firms Genesis and Gemini for allegedly selling unregistered securities concerning a high-yield product offered to depositors.
• The product in question, Gemini’s Earn Program, satisfied the SEC’s definition of security and was backed by Genesis’ lending activities.
• SEC Chair Gary Gensler said in a statement that the charges are meant to make it clear to the marketplace and the investing public that crypto lending platforms and other intermediaries need to comply with the SEC’s securities laws.

The U.S. Securities and Exchange Commission (SEC) issued a press release on Thursday, announcing charges against crypto firms Genesis and Gemini for allegedly selling unregistered securities in the form of a high-yield product offered to depositors. The product in question, Gemini’s Earn Program, satisfied the SEC’s definition of security and was backed by Genesis’ lending activities.

In February 2021, crypto exchange Gemini and crypto lender Genesis formed a partnership, in which Genesis loaned crypto belonging to Gemini users. Some of the profits from these loans were sent back to Gemini, and Gemini would then deduct an agent fee, which could be as high as 4%, before returning the remaining profit to its customers. According to the SEC press release, these actions constitute an offering of securities, for which registration is required.

The SEC’s complaint was filed in the Manhattan Federal Court, and SEC Chair Gary Gensler released a statement regarding the charges, saying: “Today’s charges build on previous actions to make clear to the marketplace and the investing public that crypto lending platforms and other intermediaries need to comply with our time-tested securities laws.”

The SEC’s charges against Gemini and Genesis demonstrate that the agency is serious about enforcing its securities laws in the cryptocurrency space. It is also a reminder to investors that they must be diligent in researching potential investments, to ensure that they are not engaging in any activities that could potentially violate the SEC’s rules.

The SEC’s action against Gemini and Genesis is an important step in providing greater clarity to the cryptocurrency industry, and in protecting investors. The SEC has made it clear that it is committed to ensuring that the cryptocurrency market operates in a fair and compliant manner. It is essential that investors understand the risks associated with any investment and make sure that they are complying with all relevant regulations.

• Crypto Payments Company Wyre CEO Loannis Giannaros has downplayed claims that his company is planning to shut down operations this month.
• Michael Staib, formerly the technical engineer at Wyre, posted on his LinkedIn profile on December 31, 2022, saying: Wyre won’t continue as a profitable business.
• The Wyre-Bolt deal was scrapped in September, but the two firms agreed to remain „friends“ and continue to collaborate on projects.

Crypto Payments Company Wyre is 10 years old this year, and its peak price tag of $1.5 billion was agreed for its acquisition by American checkout and shopper network company Bolt on April 2022. However, five months later, the deal was discarded in September. In response, Wyre CEO Loannis Giannaros downplayed claims that his company was planning to shut down operations this month.

This rumor was sparked by an alleged email that the CEO sent to his employees telling them that he is liquidating the company and planning to terminate its services this month. Giannaros then deflated the speculation in a subsequent email, stating: “We’re still operating but will be scaling back to plan our next steps.”

The speculation was further fueled by a post made by Michael Staib, formerly the technical engineer at Wyre, on his LinkedIn profile on December 31, 2022, saying: “Wyre won’t continue as a profitable business.” The employees have been granted anonymity as the company has not authorized them to speak about the matter. Giannaros has not commented about the claims of his alleged former employees, with one of them disclosing that the company has not „yet“ offered a severance package. Nevertheless, several news sites have reached out to the crypto payments firm for comment.

Despite the Wyre-Bolt deal being scrapped, the two firms agreed to remain „friends“ and continue to collaborate on projects. Wyre CEO Loannis Giannaros stated that the company will be scaling down its operations in order to plan the next steps, and that it will continue to operate in some capacity. He clarified that the company will not be shutting down, but instead will look for new opportunities that could potentially bring in profits.

For now, the future of Wyre remains uncertain, but the company is determined to remain in business. Despite the speculation, the crypto payments firm has not given any official statement on its plans.

• Genesis Global Trading, a crypto lender and market maker, is facing financial issues and has halted withdrawals.
• Interim CEO Derar Islim has sent a letter to clients asking for more time to resolve the crisis.
• Barry Silbert, the CEO of Genesis‘ parent company Digital Currency Group, has been involved in a Twitter altercation with the co-founder of Gemini, Cameron Winklevoss, over the situation at Genesis.

Genesis Global Trading, a crypto lender and market maker, is currently facing financial issues and has had to halt withdrawals. This has prompted the company’s interim CEO, Derar Islim, to send a letter to clients asking for more time to resolve the crisis. The letter comes a few days after Barry Silbert, the CEO of Genesis‘ parent company Digital Currency Group, engaged in a Twitter altercation with the co-founder of Gemini, Cameron Winklevoss.

The dispute between Silbert and Winklevoss began when Gemini clients using the Gemini Earn product were affected by the halted withdrawals. Winklevoss criticized how Silbert handled the situation, and noted that clients of the Gemini Earn product were owed $900 million by Genesis. Winklevoss gave Silbert a January 8 deadline to resolve the issue and said that the exchange had sent several proposals to Genesis for resolving the lender’s financial issues, but Genesis never acknowledged any of the proposals.

In response to the situation, Islim sent a letter to clients on January 4, asking for more time while they work to resolve the crisis. Islim stated that the process was „very complex“ and would take some additional time. He added that the company was committed to moving as fast as possible to come to a resolution.

The financial crisis at Genesis is said to have been caused by the collapse of FTX, a cryptocurrency derivatives exchange. Since then, the company has been unable to process withdrawals and has been struggling to stay afloat. The situation has caused much uncertainty in the cryptocurrency market and many are hoping that Genesis will be able to find a resolution soon.

For now, it remains to be seen what the outcome of the situation will be. All eyes are on Genesis and Digital Currency Group as they attempt to navigate their way out of the crisis. Only time will tell if they will be able to come up with a satisfactory solution for all parties involved.