Top Trending Crypto News TodayIndications that a Cryptocurrency Bull Run May be in Progress
While 2022 came to a depressing conclusion with economic headwinds offering little chance of a recovery in 2023, the beginning of the new year has shocked bearish with a leap in Bitcoin, Ether, and altcoin prices. The crypto market seems to be concluding its era of low volatility with an upward breakthrough.
Gala Games Takes Complete Ownership of Ember Entertainment
The blockchain gaming platform Gala Games has announced the acquisition of Ember Entertainment. Gala Games explained that all the games previously on Ember Entertainment became fully integrated with Gala’s layer 1 blockchain. The first two games to be integrated will be Dragon Strike and Meow Match. The games will enable Gala to scale. Players will have the opportunity to participate in play-to-earn blockchain games using their mobile devices.
Ethereum Developers Prepare to Deploy Shanghai Public Testnet, Focus on Staked Ether Withdrawals
According to the Jan. 5, 2023 All Core Devs (ACD) meeting, Ethereum developers are preparing to deploy a public testnet for the highly anticipated Shanghai hard fork in February 2023, with the mainnet implementation tentatively scheduled for March. Ethereum’s core developers emphasized that staked withdrawals are a priority and code related to EVM Object Format changes, or EOF, was removed from Shanghai to ensure that the focus remains on staked withdrawals.
Daily Crypto Market Analysis - Growing and ForecastIn the last 24 hours, the long liquidations were 21.71M USDT and the short liquidations were 37.81M USDT, leaving 16.1M USDT worth of net short liquidations. The liquidation slipped a bit, but there’s still an obvious sign of the market recovering compared to the low liquidation last year.
The Fear & Greed index climbed to 26, still below 30. The number has been around 26 most of the time in the last season, showing that the investors’ confidence is yet to be recovered. But on the other hand, the market has been relatively stable, instead of slipping further.
Bitcoin Ahr999 climbed to 0.35, below the bottom line 0.45 and the DCA line 1.2. The numbers reflected that the bear market would last for a long time. Judging from the information above, the prices were still at the bottom zone.
In the last trading day, the 3 major US stock indexes all rose. DJI was the weakest, only up by 0.56%. S&P 500 was up by 0.70%. And the NASDAQ was the strongest, up by 1.01%. BTC and ETH, were up by 1.44% and 0.79%.
In terms of statistics, the US Department of Commerce announced on Tuesday that the US wholesale inventory value of last November was 1%, inline with the expectation.
In addition, following the IMF, the World Bank announced its 2023 economic forecast, warning that this year’s global economy will be trapped in recession, especially the emerging market and the developing economies.
Wall Street is still waiting for the US CPI of last December. It holds that the pressure on price will decrease from the 7.1% of last November to the 6.5%, which will be the lowest of the last 14 months.
In terms of politics and economy, on Tuesday, Powell, chair of the Federal Reserve, stressed on the “independence of the central bank”, promising that the US Federal Reserve would not be a “climate regulator”. But he didn’t give any speech regarding the future economic or monetary policy.
Yesterday, the prices of mainstream cryptos changed from -1.33% to 1.47%. The LTC was the weakest, down by 1.33%, while the MATIC was the strongest, up by 1.47%. The BTC and ETH were up by 1.44% and down by 0.79%.
Judging from the 4-hour timeline, yesterday, after the price went back to MA7, the long side pushed the price again to 17510. The moving averages indicate that the long side has got the upper hand in the short, medium and the long term. The transaction volume increased a little, giving more momentum to the long side.
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