14,039 Dead Coins. Blockchain: Finance’s Future. Bitcoin Overtakes Silver. Bitcoin Overtakes Silver.

January 19, 2024

Crypto Market Update 19-01-24

Happy Friday everyone!

As usual on Fridays, here’s your weekly recap 😎📰

Last 7 Days Market Performance 

Bitcoin is down 4.2%, now at $ 41,733.00 📉

Ethereum is down 4.1%, now at $ 2,491.00 📉

Total crypto market cap: $ 1.71 Trillion

Fact for the week 🤔:

💸 In the league of the ultra-rich, wealth isn't just growing, it's skyrocketing! Since 2020, the world’s five richest people - think Musk and Bezos - have more than doubled their wealth to an impressive $869 billion. Meanwhile, Oxfam predicts that if things continue as they are, the world will see its first trillionaire within the next 10 years. 🚀

Onto this week’s updates 🚦

🔴 14,039 Dead Coins ⚰️

More than half of all cryptocurrencies have failed, with 14,039 out of over 24,000 listed on CoinGecko since 2014 now extinct. A significant number of these failures occurred during the 2020-2021 bull run, where over 70% of the 11,000 launched coins ceased operations. No wonder they say crypto is risky too. 😬

🟡 Blockchain: Finance’s Future 🔮

Larry Fink, BlackRock’s CEO, envisions Bitcoin ETFs as merely the initial phase of a financial revolution, emphasizing the significant potential of tokenization. Larry highlights the transformation beyond Bitcoin, seeing a future where all financial assets, including traditional ones like gold, are tokenized using blockchain technology. This tokenization, according to Fink, will also offer a more transparent and corruption-free financial system. ⛓️

🟢 Bitcoin Overtakes Silver 🥈

Bitcoin ETFs have now overtaken Silver ETFs, securing the second spot in the U.S. commodity market. This surge shows Bitcoin's increasing popularity as an investment choice, with over $28 billion invested in it. Bitcoin's leap over silver, a long-time investor favorite, marks a big moment in its growing financial importance. Watch out now real gold, Bitcoin's coming for your crown! 👑

🎬 After last week’s ETF hype, seems the market is selling the news. But pay attention: the big names are finally investing in the most fascinating financial asset ever. 🚀

Get your Bitcoin and other cryptos at lympid.io

Lympid: Crypto interests on a trusted, regulated platform

Talk next week 👋


Great job on learning something new today 🎉