Terra Classic (LUNC) Drops 8%, Bitcoin Dips to Weekly Lows (Market Watch)

Solana also continues to suffer and currently sits below $10.

Bitcoin continued with minor price declines in the past 24 hours, resulting in a dip to a weekly low of under $16,500.

Most altcoins are also in the red, including substantial losses from Solana and Terra Classic.

Stellar protocol reveals 176% increase in payments processed

In its 2022 report, Stellar protocol reveals an increase of 73% in total assets, along with a 176% growth in total payments processed.

The Stellar Development Foundation development team has released the findings of the protocol’s first year of use. Increasing the breadth and calibre of the XLM network, expanding collaborations, especially with MoneyGram, and launching new projects are among its accomplishments.

Bitcoin Exchange Outflow Volume Plunges to 7-Month Lows

Investors might have rebuilt some confidence in CEXs, with BTC exchange outflow volumes hitting a seven-month low record.

Glassnode data shows a decrease in the 7-Day MA of bitcoin leaving centralized exchanges with only 986.237 BTC getting withdrawn in the past week or so.

The declining outflow could signal that investors have restored some faith in CEXs after the gigantic collapse of FTX. Billions of dollars worth of various digital assets were withdrawn from such exchanges amid FTX’s crash.

Institutions Are Not Interested in Crypto, Says JPMorgan Senior Strategist

Institutional investors feel relieved they stayed away from crypto, said Jared Gross.

Despite the massive bull market in 2020 and 2021, institutions have remained on the crypto sidelines and feel relieved about it.

This is what a JPMorgan senior investment strategist argued recently, indicating that the interest in the asset class from such investors is “effectively nonexistent.”

The most notable bull run in the cryptocurrency market started at the end of 2020 and lasted for about a year, seeing prices explode to new highs. Bitcoin, for one, went from under $10,000 to $69,000 within that timeframe, becoming a trillion-dollar asset at the time.

FTX claims rights to over $450m worth of Robinhood shares

FTX’s new CEO resorted to the help of the US court to claim his rights to Robinhood shares worth around $450 million. However, the company is not the only solicitor.

In a document submitted on Dec. 23, FTX requests assistance from the court in its fight to retain control of Robinhood shares. The company’s new CEO, John J. Ray III, filed a motion at the US bankruptcy court for the District of Delaware. 

1inch Network Introduces Fusion Update for DeFi Swaps

 Users will be able to choose between three options with the Fusion mode.

The popular DEX aggregator announced the launch of Fusion, which focuses on the 1inch Swap Engine and aims to enhance user experience with DeFi swaps.

The team behind the project promised to deliver “almost limitless” liquidity and maximum user protection.

Coinbase is awarded license to operate in Ireland

Coinbase is now able to operate in Ireland, which enables the company to work with European clients as well.

According to a Dec. 21 announcement, Coinbase won approval from the Central Bank of Ireland to operate as a Virtual Asset Service Provider (VASP). The decision enables the firm to continue providing products and services to individuals and institutions in Europe and internationally from Ireland.