Crypto Outlook

The crypto market has been significantly up since the last week.

The global crypto market cap is $885.20B, a 3.26% increase over the last day. The total crypto market volume over the previous 24 hours is $48.33B, which makes a 43.09% increase.

The greed and fear Index remains at 30, indicating fear sentiment.

Bitcoin: BTC is currently trading at $18,216.05, a price increase of 4.49% over 24 hours. However, the price also increased by 8.25% in the past seven days. Today BTC reached a low and high of $17,337.99 and $18,268.55, respectively.

Samsung Bitcoin Futures Active ETF is going to be listed on the Hong Kong stock exchange on January 13. Samsung Bitcoin Futures Active ETF will be listed by Samsung’s investment arm, a subsidiary of Samsung’s Asset Management Hong Kong.

The ETF will track the spot price of Bitcoin by investing in Bitcoin futures products listed on the Chicago Mercantile Exchange, mainly investing in the CME Bitcoin Futures, with some investments in the CME Micro-Bitcoin Futures.

Bitcoin futures ETFs can be traded only in Hong Kong in entire Asia. In 2022 The Samsung Bitcoin Futures ETF joined the Hong Kong Crypto Futures ETF, which began trading by raising $73.6 million in investments.

Ethereum: ETH is currently trading at $1,398.90. The price increased by 4.78% over 24hrs. The price in the past seven days increased significantly by 11.65%. The ETH price formed a low and high of $1,323.58 and $1,408.13, respectively.

The world’s second-largest crypto ETH has seen a strong gain of more than 15% since the beginning of 2023. Despite ETH witnessing selling pressure over the last two months, sharks have shown keen interest, and addresses were seen accumulating heavily. A report by Santiment, an On-chain data provider, said:

“Ethereum has jumped above $1,400 for the first time since November 7. Over the past ten weeks, ~3,000 new shark addresses (holding 100 to 10,000 $ETH) have shown up on the network. 48,556 shark addresses is the highest level recorded since Feb 2021.”

XRP: XRP is currently trading at $0.3704, a price increase of 2.19% over 24 hours. Moreover, the price also increased by 8.64% over the last seven days. The XRP price formed a low and high of $0.3635 and $0.3783, respectively.

Ripple CTO David Schwartz, via a tweet, emphasized that the current Flare holding rules have left no motivation. At the same time, he promoted selling off their Flare tokens now. However, he stated that holders would lose nothing if they sold now.

David believes that they won’t get the next airdrops. A receiver would get their entire value when they sell their Flare as the buyer can easily wrap that Flare and get the airdrop.

Nevertheless, Ripple’s CTO found it very strange as the network didn’t want to keep its commitment and just wanted to distribute just 15% of all it was promised. He also expressed his feeling and said he felt bad as he loved this project, but Flare has just leveraged the XRP community to develop.

Litecoin: LTC is trading at $84.20, a price increase of 2.40% in 24 hours. Moreover, the price increased drastically by 12.22% over the past seven days. The LTC price formed a low and high of $80.75 and $85.66, respectively.

Litecoin halving is approaching and can be quite a good opportunity for investors till then. According to Coinwarz data, Litecoin investors can look forward to the traditionally bullish event as early as this year. According to NiceHash, a leading cryptocurrency platform for mining, the Litecoin halving will take place in 189 days, on July 19, 2023.

Rekt Capital, a cryptocurrency analyst, will analyze Litecoin’s historical price trends before and after the halving in order to provide a prediction for the coming months.

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