Bitcoin long-term holders do not lose their grip, on-chain data shows

Bitcoin (BTC) long-term holders are not afraid of the current volatility. Distrust towards centralized crypto service providers continues to drive bitcoin off exchanges.

Blockchain analytics service Glassnode reveals that the amount of bitcoin supply last active ten years ago or more reached a new all-time high of 2,594,574.300 BTC on Dec. 30. On the same day, the number of bitcoin addresses holding at least 100 BTC — worth 1.66 million as of press time — also reached a one-time high of 16,133. The data suggest that the accumulation is ongoing among big holders again.

Bitcoin long-term holders do not lose their grip, on-chain data shows - 1

BMW Revamps Operations With Blockchain Technology From Coinweb And BNB Chain

BMW is relying on blockchain technology to improve its business model. Now, the company is using technology from Coinweb and Binance.

Coinweb, a layer-2 cross-chain computation platform, announced on December 29 that it has entered into a partnership with BMW to integrate blockchain technology into the automaker’s infrastructure in order to improve the efficiency of financial transactions.

Coinweb stated that the primary goal of this partnership is to provide a completely new experience for BMW’s customers in Thailand. To achieve this, the two companies plan to implement two different roadmaps in 2023.

Fantom Foundation buys back tokens of six projects

The Fantom Foundation, a team that’s dedicated to the growth of Fantom, a Directed Acyclic Graph (DAG) smart contracting platform, will use some of its funds to repurchase tokens of six projects critical to the Fantom ecosystem.

Unconfirmed reports indicate that the foundation has already spent 870,000 FTM to acquire tokens of six Fantom-based projects: BOO, GEIST, BEETS, EQUAL.MMY, and BRUSH.

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.