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Quick Take Transactions on the Bitcoin network fell to an 11-month low in January, indicating reduced activity on the network. Bitcoin’s backlog of unprocessed transactions has also plummeted, leading to record-low transaction fees as miners clear out Bitcoin’s mempool. Several blocks went unfilled on Saturday. Several U.S.-based Bitcoin mining firms are exploring diversifying their operations by offering compute for AI and high-performance computing workloads.
Quick Take Colder weather led to higher energy prices in the U.S., prompting Bitcoin’s mining difficulty to adjust downward for the first time since late September, 2024, according to Bitcoin mining firm Luxor. The U.S. accounts for 36% of global Bitcoin mining hashrate, with Texas alone contributing nearly half that sum, according to Luxor’s estimates.
Markets shook off the DeepSeek panic, with stocks and crypto stabilizing after a chaotic week. Tech stocks split—Microsoft tanked while Google and Meta gained as traders played it safe with AI leaders. Bitcoin and Ethereum are stuck below key resistance levels, with weak momentum keeping full recovery on hold.
Polymarket data shows an 82% chance of XRP ETF approval in 2025, peaking at 89% on Jan 20 before cooling after an SEC closed-door meeting. Grayscale filed to convert its $16M XRP Trust into an ETF, joining firms like CoinShares and WisdomTree in seeking SEC approval. XRP trades below $3.10, with analysts eyeing $3.34 resistance; a breakout could test its 2018 all-time high of $3.84.
The crypto company has turned into a booming investment fund.
BTC remains resilient above $100K, but resistance at $106K challenges further gains. Whale accumulation and technical signals hint at the next trend.
- 07:51The stablecoin market size has exceeded 200 billion US dollarsThe stablecoin market has soared to over 200 billion US dollars, growing nearly 40 billion US dollars since President Trump's victory, indicating that cryptocurrency prices may rise in the first quarter of 2025.
- 07:48Eat&Beyond signs an agreement to acquire 100% of Milo Media's shares, intending to participate in the Ripple network to obtain XRPThe Canadian listed company Eat Beyond Global Holdings Inc. has announced that it has signed a securities transaction agreement to acquire 100% of the issued shares and 100% of the circulating stock warrants of Milo Media Technologies Inc., subject to final approval from the Canadian Securities Exchange. This acquisition will make Eat Beyond the first Canadian listed company to participate in the XRPL ecosystem. The company plans to use Milo Media's financial infrastructure solutions to earn XRP on the Ripple network, similar to how Bitcoin miners earn Bitcoin, strategically positioning itself as a blockchain financial infrastructure.
- 07:44The investment in MELANIA, which once surged over 35 million US dollars, has been cleared by investors to lock in profits. The profit withdrawal reached 22.87 million US dollarsOn February 2, according to ai_9684xtpa monitoring, an early holder of MELANIA who had a floating profit of $35.62 million decided to take profits after holding for 13 days. This address was established at the low point of $0.2084 on the first day of MELANIA's launch and cleared its last 1.91 million tokens (approximately $3.13 million) five hours ago, retracting a profit of $22.87 million from the peak price of the token.