Crypto Outlook

The crypto market has spiked with major coins in green. The global crypto market cap is $1.05T, a 2.18% increase over the last day. The total crypto market volume over the previous 24 hours is $62.42B, which makes a 9.86% increase.

The greed and fear Index remains at 54, indicating neutral sentiment.

Bitcoin: BTC is currently trading at $23,067.46, a price increase of 0.52% over 24 hours. Moreover, the price also increased by 10.69% in the past seven days. Today BTC reached a low and high of $22,413.36 and $23,722.10, respectively.

Despite the bear market and the record-low global number of Bitcoin ATM installations, Australia has successfully made it to the top three countries internationally concerning the number of cryptocurrency ATMs installed.

Until the first few weeks of January, Australians were at number four in terms of the total number of Bitcoin ATMs in the country. After January’s first week, the country got 16 more computers installed on its network.

According to Coinatmradar, the data shows that Australia now has a total of 234 crypto ATMs, which brings her up third on the list internationally behind the United States and Canada in terms of the number of available machines.

Australia has surpassed Spain, which possessed 222 crypto ATMs. Spain lost four machines, which made it come down to 4th on the list, while El Salvador ranked fifth with no new ATM installation.

Ethereum: ETH is currently trading at $1,611.07. The price increased by 3.54% over 24hrs. The price in the past seven days increased significantly by 5.29%. The ETH price formed a low and high of $1,535.08 and $1,632.24, respectively.

Aave, one of the leading DeFi lending platforms, after a successful DAO vote, is all set to launch the third version of its protocol. The platform will launch its v3 on Ethereum, which will initially support seven assets: wrapped bitcoin, wrapped staked ether, wrapped ether, DAI, USDC, link, and Aave.

DeFi risk manager Chaos Labs suggested these seven assets. According to Aave’s governance page, the vote has passed with 100% support from the community. The community voted in favor of Chaos Labs’ risk-off approach for the initial deployment that is expected to take place on 27 January.

Wrapped bitcoin and wrapped staked ether pricing will come directly from a Chainlink feed, an oracle protocol that can provide data, such as price feeds, to smart contract protocols.

XRP: XRP is currently trading at $0.4124, a price increase of 0.83% over 24 hours. Moreover, the price also increased by 7.27% over the last seven days. The XRP price formed a low and high of $0.4035 and $0.4235, respectively.

A new fraud alarm has been going viral in the cryptocurrency community. The fraud is tragting XRP investors via a phoney staking scheme.

Online scammers are imitating big cryptocurrency firms and organizations like Binance and Ripple by creating fake websites and email promising to provide staking services for XRP.

Out of many fake websites, one also has a blog post with the headline “XRP staking slated to debut January 2023 for retail customers,”. The post invites users to “stake” their XRP. The user who will do so will get an insanely high return on their investment, anywhere between 12% to 27%.

The fraudsters are also creating a sense of urgency for the visitors by claiming that the offer of ROI would be given to just the first 10,000 accounts. The fake website offers an exact clone of Ripple’s website, ripple.com, by choosing the exact font, color, and blog style.

Litecoin: LTC is trading at $89.46, a price decrease of 1.53% in 24 hours. Moreover, the price increased drastically by 7.00% over the past seven days. The LTC price formed a low and high of $86.92 and $91.62, respectively.

As all the crypto is moving up, LTC has proven to be one of the best by claiming a drastic price increase. LTC is trading above the 50 and 200 MA showing long-term bullish sentiment. After hitting highs earlier in January, Litecoin wales have started moving heavily in the market as large transactions plugged peak levels.

Sentiment via a tweet said: Litecoin’s large whale transactions have exploded with activity, indicating a resurgence of transactions valued at $1 million or more. On the tail end of the last two similarly sized whale spikes, prices jumped +37% and +33% at their peaks.

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