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FAMEEX Daily Highlights | Shiba Inu devs to launch Shibarium L2 network beta

2023-01-17 18:14:35

Top Trending Crypto News Today
The Group of EU Finance Ministers Issues a Declaration on the Political Implications of the Digital Euro
The Eurogroup reaffirmed its support for digital euro research, while noting that political decision-making will be necessary for some of the design and usage components under discussion.

Hong Kong to Publish Approved List of Crypto Assets for Retail Trading: Report
Hong Kong’s Securities and Futures Commission (SFC) is preparing a list of crypto assets open to retail traders, Reuters reported on Wednesday. The SFC’s new CEO, Julia Leung Fung-yee, said these whitelisted crypto tokens will be highly liquid ones deemed safe enough for non-professional investors. Apart from the list of approved tokens, Leung added that the SFC will liaise with the public on regulations for retail crypto trading. The approved list is part of a broader crypto regulatory push that will include the publishing of a consultation paper before the end of Q1 2023. This regulatory push will also contain new licensing protocols for crypto exchanges and other virtual asset service providers.

Shiba Inu devs to launch Shibarium L2 network beta
The developers of the dog-themed token Shiba Inu posted an update to inform its community about its upcoming beta release of Shibarium — a layer-2 network that will run on top of the Ethereum mainnet.A key update in the new announcement is one of the most-requested features for the project, which is a burning mechanism for SHIB. According to the developers, “all transactions on the network will have an implicit burn amount for SHIB token.“ This mechanism will occur whenever a transaction is made within the network.

Daily Crypto Market Analysis - Growing and Forecast

In the last 24 hours, the long liquidations were 87.64M USDT and the short liquidations were 129.935M USDT, leaving 42.295M USDT worth of net short liquidations. The average liquidation of the last 10 days increased significantly compared to that of the last two months, indicating that market sentiment has gradually recovered.

The Fear & Greed index was 45, the market sentiment turned optimistic instead of in fear. Investors regained confidence after the downfall of FTX.

Bitcoin Ahr999 was 0.50, the highest of the last 8 months, above the bottom line 0.45 and below the DCA line 1.2. The numbers reflect that the current short-term trend is no longer so weak, but bear markets will last for a long time. Judging from the information above, the prices were still at the bottom zone.

The US stock market closed yesterday for Martin Luther King Jr Day.

The mainstream currencies all fell yesterday. The prices changed from -1.08% to -5.05%. DOGE was the weakest, down by -5.05%, while the two major currencies were relatively strong, with BTC and ETH falling -1.08% and -1.32% respectively.

Looking at BTC in 4-hour candles, the price has reached a heavy pressure zone near 21000, and has been consolidating for nearly 4 days, with neither the long nor the short side having a clear advantage. Although the overall trend is still long, the moving averages continue to show a long position, but the market has risen nearly 30% since the low, and may pull back at any time to adjust. However, the BTC has reached 21481, the resistance of last November. A large amount of orders have been completed at this price zone, but it’s crucial whether or not enough orders will follow to support the momentum.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FAMEEX's official view.

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