The Block
The Block Pro Research team makes predictions about what will happen in 20242023 predictions can be read hereDisclaimer: The projects mentioned in our reports are not recommendations from our team and should not be misconstrued as investment advice. Many projects that appear in this outlook are highly experimental and, as such, will come with risks. Readers should evaluate their own risk tolerance before experimenting with these projects
Quick Take The SEC will approve a spot bitcoin ETF by the Jan. 10 deadline as a “political necessity,” according to TD Cowen. The U.S. regulator will need to establish itself as a crypto regulator before Congress looks into broader crypto legislation, TD Cowen said.
Quick Take Monthly cryptocurrency exchange trading volume hit $1.1 trillion in December 2022. Crypto exchange trading volume hadn’t exceeded $1 trillion on a monthly basis since September 2022. December’s rise in volume was likely spurred by the anticipation of spot bitcoin ETFs gaining approval, according to The Block’s research director.
CNBC TV personality Jim Cramer thinks bitcoin is here to stay amid its price surge above $45,000.
Bitcoin spot ETF approvals becoming a sell-the-news event is the most likely scenario this month, according to K33 Research analyst Vetle Lunde.Lunde suggests a 75% likelihood of this outcome versus 20% for approval inflows propelling prices higher and a 5% probability that the filings are denied.
Quick Take Arbitrum and Optimism tokens have recorded significant price rallies over the past month and are trading near their all-time highs. The Arbitrum token reached an all-time high price of $1.83 today before a slight decline — marking a 60% rally over the past month.
Quick Take Bill Lou, CEO and co-founder of Nest Wallet, fell victim to a crypto phishing attack, draining 52 stETH ($125,000). The attack was related to a fake airdrop guide for the new LFG token, which seeks to onboard Ethereum big fee spenders to Solana.
The bitcoin price briefly spiked above $45,800 in the past 24 hours.Short positions were impacted, with over $73 million in bitcoin shorts liquidated.
Quick Take The deal sees the Swiss racing team previously under the Alfa Romeo name become Stake F1 Team Kick Sauber.
Quick Take Orbit Chain’s bridge was reportedly hacked for $81.5 million worth of crypto on Dec. 31.
