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 👋
