Market analysis on the Chinese New Year, etc., attracting attention to US GDP and economic trends
news of the week
We will deliver the news of the week (January 21st to January 27th) together.
This week, the July 27 Financial Tankan, which featured figures such as the US GDP, was the most read.
Regarding the crypto asset (virtual currency) market, a report on the 24th summarized that the Bitcoin (BTC) price remained at the $23,000 level and that the Bitcoin Puell Multiple has exited the bearish zone. Interesting.
In addition, an article about market analysis related to Chinese New Year (Lunar New Year) attracted a lot of attention.
- table of contents
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- This week’s news ranking
- Market news ranking
- Virtual Currency/Blockchain Industry News
This week’s news ranking
1st place: NY Dow continues to rise for 5 days Strong US GDP is also a sign of economic slowdown | 27th Financial Tankan (1/27)
On this day, the New York Dow rose for five consecutive days. The US GDP figures for the fourth quarter, which were released before the start of trading, exceeded expectations, but there is a risk that this year’s growth rate will slow down due to the impact of aggressive interest rate hikes by the US central bank. Underlying economic activity appears to be showing signs of slowing. (the article ishere)
2nd place: Ethereum, mainnet shadow fork for Shanghai upgrade (1/24)
On the 23rd, Ethereum (ETH) implemented a shadow fork of the main net for the next upgrade “Shanghai”. The tests are still ongoing, with Shanghai’s target date of March. (the article ishere)
3rd place: The National Tax Agency announces a question and answer example on the final valuation of the virtual currency corporate tax (1/21)
On the 20th, the National Tax Agency announced a question-and-answer example on the end-of-term market valuation regarding the handling of virtual currency under the corporate tax law. It was speculated that the contents of the bill may have been almost finalized at this timing. (the article ishere)
Market news ranking
1st place: Bitcoin maintains $23,000 level, minor indicator “Puer multiple” exits bearish zone (1/24)
In the cryptocurrency market, the price of Bitcoin rose 1.45% from the previous day to $23,065. CryptoQuant certified analyst caueconomy notes that the Puer multiple has broken out of the bearish zone. (the article ishere)
2nd place: Continued growth without Bitcoin adjustment, APT surged 137% compared to the previous week (1/26)
Bitcoin price rose 2.87% from the previous day to $23,187. Among altcoins, Aptos (APT) rose 137% week-on-week and 415% month-on-month, setting new all-time highs. (the article ishere)
3rd place: There is a change in the signal in the unrealized profit and loss (NUPL), which is struggling in the high price range of Bitcoin (1/27)
Bitcoin price reached $23,824 the day before, but fell back due to profit-taking selling. Changes were seen in NUPL (Net Unrealized Profit/Loss), which indicates the difference between unrealized profits and unrealized losses. (the article ishere)
Virtual Currency/Blockchain Industry News
Is Bitcoin Rising in Chinese New Year? Matrixport’s Own Opinion (1/25)
Cryptocurrency service company Matrixport released a market analysis report on the 20th. Buying bitcoin at the end of the first day of the Chinese New Year and selling it 15 days later will yield an average return of +9%. (the article ishere)
Web3 Foundation of Polkadot Development, “DOT is no longer a security” (1/27)
The Web3 Foundation, which develops and promotes the Polkadot protocol, claims on the 26th that the native token DOT is no longer a security, but a software for adjustment. After three years of active engagement with the U.S. Securities and Exchange Commission (SEC), he said he believes the DOT has changed and is no longer a security. (the article ishere)
bitFlyer starts handling Flare (FLR) (Jan 24)
On the afternoon of the 23rd, the domestic exchange bitFlyer newly listed Flare (FLR). Giving flares to users has also been completed. (the article ishere)
Binance explains the collateral status of its own “B token” (1/25)
It turned out that Binance was storing the collateral assets of B tokens issued by the company and customer assets in the same wallet. This content has also been approved by Binance. (the article ishere)
What Will Bitcoin Miner Selling Pressure Look Like in 2023? Analysis by Galaxy Digital (1/26)
On the 25th, Galaxy Digital, a major US cryptocurrency investment company, published an analysis report on the mining industry at the end of 2022. Many miners with limited funding methods are said to be in survival (survival strategy) mode, and it is expected that this state will continue until the Bitcoin halving in 2024. (the article ishere)
US Amazon launches new Web3 business, NFT service may start in April = report (1/27)
US e-commerce giant Amazon may launch a new digital asset business. The NFT (Non-Fungible Token) service could be launched in April. (the article ishere)
Ethereum co-founder Vitalik explains the merits of “stealth addresses” (1/24)
In a research blog published on the 20th, Ethereum co-founder Vitalik Buterin introduced a concept “stealth address” aimed at protecting the privacy of Ethereum users. (the article ishere)
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