Prosecutors Request Tighter Bail Conditions for Sam Bankman-Fried Over FTX Messaging

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• Federal prosecutors of the Southern District of New York overseeing the current case against Sam Bankman-Fried, the disgraced founder and former CEO of FTX, want the court to impose tighter bail conditions on the defendant.
• This is because investigators discovered that Sam Bankman-Fried, also known as SBF, had messaged the general counsel of FTX US via Signal – a messaging app similar to WhatsApp.
• In the messages, SBF asked the general counsel if they could “reconnect” and “if there’s a way for (for them) to have a constructive relationship, use each other as resources.”

The current case against Sam Bankman-Fried, the disgraced founder and former CEO of FTX, has been a major source of contention in the Southern District of New York. Federal prosecutors overseeing the case have requested that the court impose tighter bail conditions on the defendant. This is due to the findings of their investigations, which have revealed that the defendant, commonly known as SBF, had messaged the general counsel of FTX US via Signal – a messaging app similar to WhatsApp.

The platform offers instant messaging across platforms, allowing people to communicate privately. Signal creators’ primary focus is on security and privacy. The application is run as a non-profit managed by a foundation and is used by over 40 million people, including SBF.

Investigators said messages sent to the general counsel of FTX US, which could be a potential witness in the ongoing criminal case against SBF, were “suggestive of an effort to influence a witness’ potential testimony.” On January 15, SBF messaged the general counsel asking if they could “reconnect” and “if there’s a way for (for them) to have a constructive relationship, use each other as resources.”

This raises serious concerns as the general counsel may have access to information that could potentially help indict the defendant. For this reason, federal prosecutors have asked the overseeing judge to prevent SBF from communicating with witnesses in the case by imposing tighter bail conditions.

It is yet to be seen how the court will rule on the matter, but it is clear that the case against SBF is continuing to heat up as investigations continue. The outcome of the case could have major implications for the future of FTX and the cryptocurrency industry as a whole.

Ripple’s XRP Sees Record Trading Volumes on Australian Exchanges

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• Ripple’s native token, XRP, has recorded the highest trading volumes on Australian exchanges.
• This is credited to Ripple’s on-demand liquidity (ODL) use case adoption.
• Ripple’s XRP contributed to 62% of the trading volumes on the BTC Market and 82% of the Independent Reserve Exchange over the past day.

Ripple, the leading enterprise blockchain solution for global payments, has achieved a new milestone in Australia as its native token, XRP, has recorded the highest trading volumes on Australian exchanges. This impressive feat is being credited to Ripple’s on-demand liquidity (ODL) use case adoption.

ODL is Ripple’s revolutionary technology that allows customers to make payments in local currency at the payment destination within seconds. It works by utilizing XRP to bridge the gap between two different fiat currencies. This makes XRP a great choice for those looking to make global payments quickly, securely, and cost-effectively.

The news came from Financial Review, an Australian media outlet, shared on Twitter by Neil Smith, Ripple’s partner engineer, and Aussie firm, Blockchain Australia. The report stated that Ripple’s XRP contributed to 62% of the trading volumes on the BTC Market, a Melbourne-based exchange. It also accounted for 82% of the Independent Reserve Exchange over the past day.

CEO of BTC Markets Caroline Bowler said her crypto exchange is a Ripple on-demand (ODL) liquidity partner in Australia, and that this new milestone is the result of Ripple’s success in the country. Bowler also expressed her excitement to be part of Ripple’s mission of making cross-border payments more efficient and cost-effective.

The XRP community is also anticipating a final court ruling in the lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC). Whatever the outcome, Ripple’s success in Australia is a testament to the power of blockchain technology for global payments, and it will be interesting to see how Ripple continues to shape the industry in the coming years.

BingX Exchange Lists BONE Trading Pairs, Price Soars 72% in 30 Days

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• Singapore-based Exchange BingX announced the listing of BONE trading pairs (BONE/USDT) on the beta version of its BingX Spot platform.
• BONE has gained significant momentum to the upside over the past weeks, especially following the developers’ announcement on making BONE the token to cover gas transactions.
• BONE has surged 72% in the last 30 days.

The popularity of the Shibarium blockchain’s native token, BONE, has been on the rise as its launch date draws near. This surge in popularity has prompted Singapore-based Exchange BingX to announce the listing of BONE trading pairs (BONE/USDT) on the beta version of its BingX Spot platform. The exchange stated that the deposit and withdrawal service of the BONE token will be available on the BingX exchange starting from January 18, and trading will commence once the pairs are launched.

The move was taken by the Exchange due to the high demand from customers and members of the Shiba Inu and BONE community. BingX cryptocurrency exchange currently has around five million registered users and provides users with spot, derivatives, copy and grid trading services to more than 100 countries and regions.

The news of the listing of BONE on the BingX exchange has sparked the interest of many investors and the token has gained significant momentum to the upside over the past weeks. This is especially so after the developers’ announcement on making BONE the token to cover gas transactions and compensate validators and delegators on the layer-2 Shibarium blockchain.

The interest in BONE has also been reflected in its price as it has followed suit with the general crypto market rally. The token has surged 72% in the last 30 days and has reached higher highs both in price and amount of holders. The BONE holder count has surpassed 60,000, indicating rapid accumulation by various investors.

Overall, the listing of BONE on the BingX exchange is indicative of the increasing interest in the token, and it is expected that the listing will drive further growth in the token’s price and holder count. This is likely to be a boon for investors in the BONE token and could lead to more widespread adoption of the Shibarium blockchain.

Bitcoin Exchange Reserves Rise, Could Signify Bearish Price Pressure

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• On-chain data shows that Bitcoin’s spot and derivative exchange reserves have recently shot up, which could be a bearish sign for the price.
• The “exchange reserve” is an indicator that measures the total amount of Bitcoin that investors are depositing into wallets of centralized exchanges right now.
• An increase in the reserves of these platforms can suggest selling pressure is rising in the market, while a rise in the derivative reserves can lead to higher volatility.

Recent on-chain data has revealed an interesting trend in the Bitcoin market – the spot and derivative exchange reserves have both shot up in recent days, a sign that could be bearish for the price.

The “exchange reserve” is an indicator that measures the total amount of Bitcoin that investors are depositing into wallets of centralized exchanges right now. This metric has two versions; one is for the spot exchanges, while the other is for the derivative platforms.

Typically, investors deposit to spot exchanges for selling purposes, so an increase in the reserves of these platforms can suggest that selling pressure is rising in the market. This can lead to a bearish signal for the price, as it means that more Bitcoin is being sold than bought. On the other hand, investors use derivative exchanges for opening positions on the futures market. A rise in the derivative reserves can lead to higher volatility in the market, with the effect on the price being in either direction.

A CryptoQuant post recently pointed out that the open interest and the funding rates were also heating up in the BTC market. This was confirmed by a chart that shows the trend in these Bitcoin exchange reserves over the last month. The values of all the metrics seemed to have seen a rise in recent days, indicating that investors have been making deposits to these platforms.

Overall, the increased spot reserves suggest an elevated selling pressure in the market, while the derivative reserves imply an overleveraged position in the market, leading to potential volatility. It is important to note that this is all speculation for now, and the actual effect on the price of Bitcoin is yet to be seen.

BONK Price Plummets 50% as Hype Fades: SOL Records Small Gains

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• BONK, a meme coin on the Solana ecosystem, recently experienced a surge in its price, reaching an all-time high of $0.0000049.
• However, the hype has now died down, with BONK falling more than 50% in 24 hours, dropping back to its original price of $0.000002.
• The downturn in price has also seen the surge in Solana slow down significantly, with BONK recording over 53% losses in the past day and SOL recording small gains of 0.17%.

The meme coin BONK has been the talk of the town in the Solana ecosystem since the start of the new year. In less than two weeks, the coin had gained massive attention from investors, rising from obscurity to become the largest meme coin on the Solana ecosystem. This was met with a surge in its price, reaching an all-time high of $0.0000049 on Thursday when the hype was at its peak.

However, the hype seems to have reached its peak, with the coin now experiencing a downturn in its price. In the past 24 hours, BONK has lost more than 50% of its value, dropping back to its original price of $0.000002. This was after the coin had recorded a more than 4,000% return rate in a 10-day period, reaching a market cap of over $200 million.

The downturn in price has also seen the surge in Solana slow down significantly, with BONK recording over 53% losses in the past day and SOL recording small gains of 0.17%. This is not surprising, considering that the coin has no real utility and eventually, the sell-offs dragged its price back down. Being a digital currency driven by purely social sentiment, this was expected to happen, just like it did with predecessors such as Dogecoin and Shiba Inu.

It remains to be seen whether BONK will be able to weather this storm and come back up, or if it will follow the same path as Shiba Inu and other meme coins. However, with the downturn in its price, it may be wise for investors to get out of the crypto before the situation worsens.

Bitcoin Predicted to End 2023 Higher Than It Started, Despite 2022 Low

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• Bitcoin performance in 2022 was the second-worst since 2011, with a year-to-date performance of -65%.
• According to Arcane Research, the crypto winter was caused by tightening macroeconomic conditions and crypto-specific leverage and risk management.
• Arcane Research predicts that Bitcoin will trade in a mostly flat range in 2023, but finish the year with a higher price than it started with.

Bitcoin, the digital gold, has had a tumultuous 2020 and 2021. With the current price, Bitcoin has had a year-to-date (YTD) performance of -65%, the second-worst since 2011. This underperformance is a stark contrast to the performance of physical gold, which has a YTD performance of -1%. According to Arcane Research, the crypto winter was caused by tightening macroeconomic conditions and crypto-specific leverage and risk management by core market participants.

The two major events that caused Bitcoin to underperform in 2022 were 3AC and Celsius in June, and FTX in November. These events likely had a large impact on Bitcoin prices, as the digital gold was highly correlated with the U.S. equity markets.

Arcane Research predicts that contagion effects will continue in early 2023, but expects that the majority of 2023 will be less frantic and borderline uneventful compared to the last three years. They also expect Bitcoin to trade in a mostly flat range in 2023, but for the price to finish higher than it started.

This prediction is in stark contrast to the events that occurred in 2022, but is a testament to the resilience of Bitcoin and the digital gold narrative. Although Bitcoin prices may not rise as quickly as many would like, it is still expected to finish 2023 with a higher price than it started with. This is good news for anyone holding Bitcoin and looking to make a return on their investment.

LINK Price Drops 7.5%, Bulls Rush In to Rescue the Coin

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• Chainlink (LINK) has recently announced its new tie-up with Blueberry, which is set to automate and enhance the build and LP strategies of the network.
• According to data by Coingecko, LINK price has plunged by 7.5% in the last seven days, and trading at $5.55 as of this writing.
• Technical indicators demonstrate that the coin has lost its grip at the $6 level, which could hint at a bearish signal.

Chainlink (LINK) recently announced its new collaboration with Blueberry, an initiative designed to automate and improve the network’s building and LP strategies. This partnership will provide incentives and network fees. The price of LINK has dropped by 0.85%, leading some crypto experts to believe that the coin may go bullish before the end of the year.

According to data from Coingecko, LINK has dropped by 7.5% in the last seven days, and is currently trading at $5.55. Technical indicators show that LINK has been unable to maintain its grip above the $6 mark, which could indicate a bearish signal.

On the brighter side, LINK bulls have jumped in to rescue the coin whenever the price has taken a dip. If the bulls are able to push the price beyond $6, this could be an excellent start to the new year. Crypto expert Michaël Van De Poppe believes that LINK can reach $17 if the bulls manage to push the resistance level up to $7.80. On the other hand, Van De Poppe also believes that LINK may drop and warm up below $5 before it surges again.

The future of LINK is uncertain, but it is clear that the coin has a lot of potential. With its new collaboration with Blueberry and the enthusiasm of the LINK bulls, the coin may be able to reach heights that were once thought impossible. We will have to wait and see what the future holds for LINK.

Bitcoin Reaches Bear Market Low: Can It Reclaim $19,900 Realized Price?

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• Bitcoin’s realized price is currently valued at around $19,900 according to CryptoQuant’s year-end dashboard release.
• Bitcoin’s normal price has been below the realized price for a while now, historically spending very little time in this region.
• To understand the “realized price,” the “realized cap” must be looked at first, which prices each token at the same price it was last moved.

Bitcoin has recently been trading below its realized price for 163 days in this bear market, a situation that has only been seen during the worst phases of a bear market. To understand what the “realized price” is, it is important to first look at the “realized cap,” which is a capitalization model for Bitcoin that aims to provide its true value. The realized cap prices each token at the same price it was last moved, rather than the current market price. For example, if 1 BTC was bought at $20,000, but the market price has now changed to $16,000, the market cap will consider it valued at $16,000 whereas the realized cap will say its true value is $20,000.

When the total realized cap of Bitcoin is divided by the total number of coins in circulation, the “realized price” is obtained. This price signifies the cost-basis of the average coin in the market (that is, the price at which investors acquired the average coin at). According to CryptoQuant’s year-end dashboard release, the bear market would be over if BTC reclaims the realized price of approximately $19,900.

A chart that charts the trend in the BTC realized price over the entire history of the asset reveals that Bitcoin has spent very little time below this metric. Generally, only the worst phases of a bear market pull the coin below this level, and this is what is currently happening. This means that the current bear market is one of the longest and most difficult ones that we have seen in the crypto market.

It is worth noting that the realized price is an important metric to watch when trying to understand the full picture of the cryptocurrency market. It gives a more accurate representation of the true value of Bitcoin, as it takes into account the price at which tokens were last moved and not the current market price. This can be useful when trying to determine how close we are to the end of the current bear market, as the bear market would be over if Bitcoin reclaims the realized price of approximately $19,900.

Solana’s Price Plunges Into Single-Digit Territory After FTX Collapse

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•Solana has been on a downward trend since the FTX crypto exchange collapse, losing more than 20% in the last 7 days.
•The network had risen quickly due to the funds injected by Sam Bankman-Fried, but with those gone, it has struggled to stay afloat.
•Matrixport announced it would be delisting all Solana tokens from its platform, further exacerbating the downward trend.

The digital asset Solana has been on a depressing downtrend ever since the FTX crypto exchange imploded. The asset had already lost a massive chunk of its all-time high value, but things have only gotten worse in the last seven days, with Solana’s price dropping into single-digit territory. The losses align with the general bear market trend being experienced in the crypto sector, but the downfall of the digital asset is being accelerated by the collapse of FTX, which had been its biggest supporter.

Sam Bankman-Fried, the founder of FTX and Alameda Research, had invested a lot of money into the Solana ecosystem, boosting the network’s growth and development. However, with all of that money gone, Solana has been unable to sustain its progress, leading to its current state of decline. Furthermore, according to James Spediacci’s Twitter, a large portion of the value locked in the Solana blockchain at its peak was allegedly faked. He cites a report from CoinDesk that claims that SOL stablecoin exchange Saber, and DeFi protocol Sunny, two major players in the Solana ecosystem, were operated by the Macalinao brothers. With these players gone and no new money being injected into the ecosystem, Solana has been left to fend for itself.

Unfortunately, things have only gotten worse, as Matrixport recently announced it would be delisting all Solana tokens from its platform. This move is sure to further exacerbate the downward trend of Solana’s price, as it removes a key source of liquidity for the asset.

It’s clear that Solana is in for a tough road ahead. With no new money being injected into the network, and major players in the ecosystem like Matrixport delisting it, it looks like the asset is set for a long period of decline. The only hope for Solana is that the crypto sector as a whole rebounds soon, allowing the asset to recover some of its losses.

Bitcoin Interexchange Flow Pulse Reversal: Is a Bull Market Coming?

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• Bitcoin Interexchange Flow Pulse (IFP) is an indicator that measures the 1-year cumulative net flows between Coinbase and derivative exchanges.
• When the value of this metric rises, it means investors are transferring more coins from spot to derivative exchanges right now, and are hence willing to take up more risk.
• On-chain data shows the Bitcoin Interexchange Flow Pulse is about to see a trend reversal, which could be a sign of a bullish period for the cryptocurrency.

The Bitcoin Interexchange Flow Pulse (IFP) is a metric used to measure the 1-year cumulative net flows between Coinbase and derivative exchanges. The value of this indicator is an important factor in determining the current sentiment of the crypto market. When the IFP rises, it means that investors are transferring coins from spot to derivative exchanges and thus, are willing to take up more risk.

Recently, on-chain data has revealed that the Bitcoin Interexchange Flow Pulse is about to experience a trend reversal, which could be a signal that the cryptocurrency is entering a bullish period. CryptoQuant’s year-end dashboard release showed that the trend shifts in this metric have historically coincided with changes in the market.

Generally, during bull markets, the indicator has seen a constant climb and has stayed above its 90-day moving average. This is because investors are more willing to take on risk during a bullish period, and so they will transfer more coins from spot to derivative exchanges.

For instance, the chart below shows the trend in the Bitcoin Interexchange Flow Pulse, as well as its 90-day moving average (MA), over the last few years:

Chart showing the trend in the Bitcoin Interexchange Flow Pulse | Source: CryptoQuant

As can be seen from the chart, the value of the metric may be beginning to turn around. If the trend reversal is confirmed, it could suggest that investors are indeed willing to take on more risk and that the cryptocurrency is entering a bullish period. This could be good news for the crypto market and may lead to an increase in prices.

At the same time, it is important to remember that the Bitcoin Interexchange Flow Pulse is only one of the many indicators that are used to evaluate market sentiment. Other metrics such as whale and shark addresses can also provide valuable insights into the current trend. As always, it is important to do your own research and to keep an eye on the market before making any investment decisions.