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Latest News and Developments in the Crypto Market In a recent report by blockchain intelligence firm Chainalysis, it was revealed that global crypto gains surged to $37.6 billion in 2023, marking a significant recovery from the losses experienced in 2022. The United States led in total crypto gains, with $9.36

SEC Delays BlackRock and Fidelity Spot Ethereum ETF Proposals The United States Securities and Exchange Commission (SEC) has once again delayed its decision on spot Ethereum ETF applications from BlackRock and Fidelity, adding another layer of uncertainty to the cryptocurrency market. This delay comes after the SEC approved several spot Bitcoin ETFs earlier, signalling ongoing regulatory scrutiny of cryptocurrency-related investment products.

Bitcoin Miner Sell-Off and Market Dynamics: Bitcoin miners have been actively reducing their inventories amidst a bullish market sentiment. Data from Glassnode indicates a decline of 8,426 BTC (approximately $530 million) in the BTC holdings of miner wallets since the beginning of the year, bringing the total to 1,812,482 BTC.

The crypto market has been abuzz with a flurry of activities and significant developments in recent times. One of the notable developments is Reddit's disclosure of its investment in cryptocurrencies like bitcoin (BTC), ether (ETH), and Polygon (MATIC). This move not only demonstrates Reddit's forward-thinking approach in diversifying its investment portfolio but also signifies a broader acceptance of cryptocurrencies as legitimate assets by mainstream entities.

BlackRock's Bitcoin ETF Inflows Surge BlackRock's iShares Bitcoin Trust (IBIT) has made a significant impact in the ETF market just 17 days after its launch. With a staggering $3.2 billion in year-to-date inflows, IBIT has quickly climbed to become one of the top five ETFs of 2024, according to Bloomberg Intelligence data.

Solana has recently achieved a significant milestone with its second smartphone, garnering over 100,000 pre-orders and securing a substantial $45 million for further development. This achievement marks a notable contrast to its first crypto-enabled phone, which took nearly a year to sell 20,000 units.

Cryptomarket Update Amidst the current volatility in the crypto market, Bitcoin has shown resilience by attempting to push past the $46,000 mark, marking a nearly 5% gain for the day. Spot trading volumes on centralised exchanges saw a notable rise in January for the fourth consecutive month, reaching levels last seen in June 2022.

Chainlink's native token, LINK, experienced a notable surge of 16 % over the past 7 days, reaching a 22-month high. This surge comes amidst a relatively stable Bitcoin (BTC) trading around $43,000, while altcoins, including LINK, showed gains. The surge in LINK marks an end to a three-month period of consolidation, positioning it as one of the leading decentralised oracle networks in the cryptocurrency market.

FTX Repayment Expectation and FTT Token Fluctuation FTX is anticipated to repay its customers fully as per a court hearing. However, the full recovery of customer assets hinges on the date of FTX's bankruptcy, sparking debate among claimants due to market fluctuations. While the expectation of full repayment offers a glimmer of hope to affected users, the uncertainty surrounding the timing and method of reimbursement has contributed to market volatility.