Crypto Outlook

The crypto market has shown some bullish sentiment compared to the previous week.

The global crypto market cap is $818.58B, a 0.11% decrease over the last day. The total crypto market volume over the previous 24 hours is $31.14B, which makes a 2.01% decrease.

The greed and fear Index remains at 29, indicating fear sentiment.

Bitcoin: BTC is currently trading at $16,814.52, a price decrease of 0.33% over 24 hours. However, the price also increased by 1.68% in the past seven days. Today BTC reached a low and high of $16,789.75 and $16,964.59, respectively.

Charles Edwards, founder and CEO of Capriole Investments, a quantitative cryptocurrency hedge fund management firm said on January 5: “A big move is brewing for Bitcoin.”

“Bitcoin is currently trading at a major low in volatility. Generally, when Bitcoin breaks out of extremely low volatility, the ensuing trend tends to last. Don’t fight the trend on the next major move.”

Ethereum: ETH is currently trading at $1,250.66. The price decreased by 0.03% over 24hrs. The price in the past seven days increased significantly by 4.90%. The ETH price formed a low and high of $1,246.21 and $1,264.81, respectively.

Arcane Research, a renowned crypto firm, has issued a warning to Bitcoin and Ethereum investors in light of the mounting events covering Digital Currency Group, Genesis, and Grayscale. 

Analyst Vetle Lunde in an article, states the firm alerts:

“Investors should pay attention to the ongoing financial distress related to Digital Currency Group (DCG) as the outcome could severely impact crypto markets.”

Backing up the statement with a reason, Lunde said that Arcane Research says that if DCG goes bankrupt, it would have not much option and could be forced to liquidate its assets. 

“This, in return, could force DCG into sorting its sizable positions in GBTC and unknown positions in ETHE and other Grayscale trusts,” 

XRP: XRP is currently trading at $0.3444, a price decrease of 1.45% over 24 hours. Moreover, the price also decreased by 0.68% over the last seven days. The XRP price formed a low and high of $0.3433 and $0.3508, respectively.

As per Attorney James Filan, many third parties have filed motions to censor information in the Parties’ Summary Judgment Materials. MoneyGram, a Cryptocurrency Exchange Declarant, and some investors are among them.

MoneyGram requested to censor a few lines from the depositions transcript of its officer. However, it also includes dollar amounts, percentages, and some related numbers for the work orders. The reason for the request is that MoneyGram believes that this information going to the public would be highly damaging as it would reveal their detailed knowledge to competitors and people.

However, Court also saw some requests for a Notice of Appearance on behalf of the third parties.

Litecoin: LTC is trading at $75.14, a price decrease of 1.65% in 24 hours. Moreover, the price increased drastically by 13.84% over the past seven days. The LTC price formed a low and high of $74.66 and $76.54, respectively.

Litecoin has reported record-high transaction numbers. According to the altcoin’s official Twitter account, LTC has a total of 39 million transactions as of December 29. According to Coingecko, LTC holds second place in the unique addresses metric, which grew to 52 million. The coin rose 7% in the weekly timescale.

Also, LTC transactions on BitPay, have risen up by 109% over the past year. LTC via Tweet: “In just one year, monthly Litecoin use, with the world’s largest cryptoprocessor, increased 109%.”

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