Bitcoin hodlers won’t give in

 Data provided by on-chain analytics firm Glassnode shows that the amount of bitcoin (BTC) in circulation that has not moved in over the last 10 years has reached an all-time high of 2,612,163.979 BTC.

Glassnode data also shows that the percentage of the total supply of bitcoin that has not moved in at least five years has also reached an all-time high of 27.678%, and the amount that has not moved in over 2 years has also reached an all-time high of 48.551%.

This data suggests that a significant portion of the total supply of bitcoin is being held for long-term investment.

Justin Sun transfers over $280m in sudden spike

 Justin Sun — co-founder of ethereum (ETH) and tron (TRX) — likely moved over $281 million worth of tokens since Jan. 16.

Data gathered from blockchain analytics service Arkham Intelligence show that transactions sent from or to Justin Sun’s known wallets since Jan. 16 are worth a total of nearly $282 million.

When examining this data, it must be kept in mind that much of that is the same assets being moved into Sun’s wallets and immediately out. As of press time, there is no explanation for this on-chain activity.

Top 11 crypto market predictions for 2023

After the bull run in 2021 that saw increased crypto adoption, the crypto industry was impacted by numerous setbacks. The initial correction in 2022 started with a drop of around 20% and 31% in January alone. 

By November, it had declined by more than 70% from its previous peak in November 2021.

Several factors contributed to this volatility, including the US Federal Reserve’s interest rate hikes and rising inflation. In this article, we will dive into what the crypto market will look like in 2023 as we cover the top predictions. 

Bitcoin will lead a bull market

2022 has been rough for crypto after its value dropped more than 50% over the past year. 

US DOJ Issues International Cryptocurrency Enforcement Action

The DOJ has arrested the founder of BitZlato, a crypto exchange heavily involved in facilitating crypto crime.

On Wednesday, the United States Department of Justice announced an international cryptocurrency enforcement action.

The Department arrested the founder of BitZlato – a Chinese crypto exchange involved in servicing financial criminals

Binance Burns $620 Million Worth of BNB

Binance removed over two million of its native cryptocurrency from circulation.

The world’s largest cryptocurrency exchange continues with its goal to reduce the overall BNB in circulation to 100 million.

To do so, the company announced completing the 22nd burn of its native token.

Binance’s statement informed that it has removed 2.064 million BNB from circulation, worth almost $620 million at today’s prices.

The bulls have returned, bitcoin is bouncing back

 Bitcoin is in the middle of a massive rally, but will it last?

Bitcoin (BTC) gained nearly 21% in the previous seven days, and was trading at $20,994. At the same time, ethereum (ETH) was trading at $1,549, up more than 16%.

While the market is recovering from Terra’s collapse, the bankruptcy of leading DeFi players such as Celsius and Voyager, and the high-profile collapse of FTX, favorable sentiments have finally resurfaced for the cryptocurrency market.

According to CoinMarketCap, the overall market cap, which was $982bn at the time of writing, is approaching the $1 trillion mark due to bullish sentiment, a level not seen since November 2022.

Argo Blockchain’s BTC Production in December Crippled by a Winter Storm

The miner produced only 147 BTC in December, compared to 198 BTC in November, because of the snow blizzard that hit Texas.

The bitcoin mining giant – Argo Blockchain – mined 147 BTC in December, roughly 25% less than the production levels registered in November.

The main reason for the decrease was a massive winter storm that hit the US last month and negatively affected the company’s Helios facility in Dickens County, Texas.