🚨🚨Crypto Market News You Can’t Miss! (02/01/24) 🚨🚨

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3 Jan 2024

442

1️⃣ Bitcoin ETF Hopes Push BTC Price to Almost $46K in 2024’s Strong Start 🚀

Bitcoin started the new year with a bang as it soared above $46,000 (the highest level since April 2022) on Tuesday morning in Asia, signaling a bullish sentiment for the crypto markets. The main driver of the rally was the investors’ expectation of a possible approval of spot Bitcoin ETFs in the United States. Although the spot Bitcoin ETF was already anticipated by the market, the momentum increased after a recent Reuters report claimed that the SEC could start notifying ETF sponsors as early as Tuesday that their applications were to be approved.

Commenting on Bitcoin’s price performance, Ryan Lee, chief analyst at Bitget Research said,
Some analysts from cryptocurrency trading platforms think that the ETF approval may not trigger an immediate surge in Bitcoin’s price. However, there are also some positive views, such as prominent trader Scott Melker forecasting that Bitcoin could reach $54,000 in the next few days once the SEC approves the ETF. Matrixport expects that BTC will climb to $50,000 within a month after passing the BTC spot ETF in January.

Source (https://www.coindesk.com/markets/2024/01/02/bitcoin-begins-2024-with-a-push-toward-45k)

2️⃣ Tellor Altcoin’s Strange 150% Spike Then Crash Raise Suspicions Of Manipulation 🚨

Tellor (TRB), an obscure altcoin, witnessed some unusual price action on New Year’s Eve as it rocketed nearly 150% to a new all-time high of $619 before dropping back to $136 in less than 13 hours. Interestingly, Etherscan data reveals that the Tellor team had moved 4,211 TRB (worth about $2.4 million at the time) at around 8:41 pm UTC to a Coinbase wallet just as the price peaked - this could have likely caused the price decline.

Moreover, data from CoinGlass shows that the abrupt price fall resulted in more than $68 million in liquidations as traders probably placed overleveraged bets on the price of TRB going up even more. However, blockchain analytics platform Spot on Chain stated that the price fluctuations could also be explained by 26% of the circulating supply of TRB being held by just 20 “whale” wallets. This small group of whale addresses allegedly started buying TRB at prices near $15 and have been slowly transferring their holdings to CEXs to secure profits.

Source (https://cointelegraph.com/news/tellor-altcoin-pumps-dumps-causes-speculation-over-cause)

3️⃣ F1 Team Sauber Signs Two-Year Deal With Crypto Casino Stake 🏎

Formula 1 team Sauber has reportedly signed a two-year title partnership deal with crypto casino and sports betting platform Stake in 2024. Notably, Stake replaces Alfa Romeo, which did not renew its sponsorship of Sauber’s C44 after 2023. The Sauber is set to be rebranded as Audi’s factory team in 2026 - leaving a two-year window for other sponsors to fill in on a temporary basis.

Team Representative Alessandro Alunni Bravi stated,
Last season marked the beginning of Stake’s journey in Formula 1, and the brand’s new role leading Stake F1 Team represents the natural and exciting next step on this path.

Source (https://www.theblock.co/post/269855/sauber-stake-f1)

4️⃣How Mickey Mouse’s First Appearance Became a Hot NFT Trend in 2024 🚀

The year 2024 started with a bang for NFT collectors, as three collections based on the iconic Mickey Mouse character soared to the top of the OpenSea marketplace. The collections were inspired by the 1928 animated short film “Steamboat Willie”, which marked the debut of Mickey Mouse to the public. The film entered the public domain on January 1st, 2024, allowing anyone to use it for their own creative purposes.

The most popular collection, called “Steamboat Willie Public Domain 2024”, generated over $1.2 million in trading volume, making it the number one trending NFT collection on OpenSea. The collection features 10,000 unique pixel art versions of Mickey Mouse in his classic sailor outfit, each with different attributes and rarities. The second and third most popular collections, named “Steamboat Willie” and “Steamboat Willie’s Riverboat”, also offer various interpretations of the beloved character and his steamboat adventure.

These collections show how NFTs can celebrate and revive the cultural heritage of the past, while also creating new value and opportunities for artists and collectors. They also demonstrate the power and popularity of Mickey Mouse, who remains one of the most recognizable and beloved icons of animation history.

Source (https://cointelegraph.com/news/nft-steamboat-willie-old-mickey-mouse-version-copyright-expires-top-opensea)

5️⃣How Crypto Users Lost $295 Million to Phishing Scams in 2023: A Scam Sniffer Report 🚨

Phishing scams are one of the most common and dangerous threats to crypto users, as they can easily drain their wallets and steal their funds. According to a report by Scam Sniffer, a blockchain security platform, phishing scams claimed over 324,000 victims and took almost $300 million from them in 2023.

The report, titled “2023 Wallet Drainers Report”, reveals that phishing scammers are becoming more sophisticated and resilient, as they use various platforms and methods to lure their targets. One of the most prevalent tactics is to compromise the official Discord and X (formerly Twitter) accounts of crypto projects and post phishing links that promise rewards, giveaways, or updates. These links then redirect the users to fake websites that ask them to enter their wallet details or seed phrases, which are then used to access and empty their wallets.

The report also notes that the crackdown on ‘wallet-drainer-as-a-service’ providers, which offer phishing tools and services to scammers, has not been effective, as the scammers simply move to other platforms that offer similar services. The report warns that phishing scams will continue to pose a serious threat to the crypto community, and urges users to be vigilant and cautious when dealing with online links and messages.

Source (https://cointelegraph.com/news/crypto-phishing-scams-2023-300-million-dollars-324k-victims-report)

Disclaimer: The information and content provided in this article are for informational and educational purposes only and do not constitute any financial, investment, or legal advice. Trading, buying, or investing in cryptocurrencies involves significant risks and may result in the loss of your capital. You should do your own research and consult a professional before making any decisions. This article is not a suggestion or an endorsement of any cryptocurrency or platform.

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