Cryptocurrencies like Bitcoin BTCUSD,
And Ethereum ETHUSD,
Its popularity has skyrocketed in recent years and is now traded by both individual investors and large corporations such as Citibank and Tesla TSLA.
During part of 2021, the market capitalization of cryptocurrencies approached $ 3 trillion.Due to the cryptocurrency epidemic, companies like Robinhood HOOD
To see the increase in crypto trading on that platform, and other brands like Wal-Mart WMT,
To give access to cryptocurrency purchases at store kiosks.
As the interest in cryptography continues to grow, so does the interest in cryptography.
The changes in crypto prices in January are as follows:
Bitcoin’s price fell 18.36% in January, and the recent trend in cryptocurrencies continues as Bitcoin started its calendar year with the worst start in eight years.
Anthony Denier, CEO of trading platform Webull, recently told MarketWatch: “It’s hard to know when this will turn around, as there are few new capitals to enter the market.”
Some analysts say Bitcoin prices may continue to fall as the short-term trend in Bitcoin still looks bearish.
Russia may have further heightened short-term concerns about Bitcoin and other cryptocurrencies. This is because the country’s central bank has released harsh reports on cryptography, including the possibility of a ban on mining and trade.
Read more: Bitcoin owners expect to rebound to $ 55,000 in six months, according to a survey
NFL player Odell Beckham Jr. was talked about in November 2021 when he decided to convert his $ 750,000 salary to Bitcoin. The move and the subsequent decline in Bitcoin prices cost most of Beckham’s salary.
Bitcoin has increased by 17.76% in the last 12 months.
Like Bitcoin, Ethereum prices fell in January. Ethereum prices fell 25.59% to below $ 3,000 in January. This is the third consecutive negative month for cryptocurrencies.
Kevin Kelly, CEO of Benchmark Investments, told MarketWatch in January that Ethereum is a notable cryptocurrency in 2022.
“As the world continues to digitize, we believe Ethereum is the network for that,” Kelly said.
Kelly also believes that smart contracts made on the Ethereum blockchain will offer more usefulness than Bitcoin, and we can predict that Ethereum prices will overtake Bitcoin in 2022.
Kelly continued, “I absolutely believe” that this year could happen.
In another blockchain technology news in January, NBA star LeBron James partnered with Crypto.com to help risky children learn about cryptocurrencies and blockchain technology.
Ethereum has increased by 112.83% in the last 12 months.
See: How DraftKings, Caesars and other major sports betting stocks worked in January
Dogecoin DOGEUSD price,
It sank 17.37% in January.
Elon Musk tweeted again about Dogecoin, saying he would eat Happy Meal on TV if he had an MCD for fast-food giant McDonald’s.
We have started accepting Dogecoin as a payment option. Tesla accepts Dogecoin for some products in its online store.
The current price of Dogecoin has been around $ 0.143, down from a record high of $ 0.692 in May 2021.
Other crypto news
According to the latest data from Coinbase COIN, prices in January plummeted by 36.73%.
Following recent network performance issues, Solana Labs CEO Anatoly Yakovenko said the platform is still in “growing pain” as it scales to meet demand.
January prices remained above 1.00, but still fell 19.38%.
Despite sluggish prices, crypto carriers are on the rise. Cryptographic jobs surged 395% in 2021 and cities such as Miami, Austin and Denver emerged as new crypto hubs, according to a new report.
See: How Kobe Bryant earned $ 600 million in wealth, and who is in charge of it now?
There was also news of alleged crypto fraud featuring Kim Kardashian and Floyd Mayweather. According to the website, the two celebrities have been accused of making misleading statements surrounding a “pump and dump” cryptocurrency campaign with Ethereum Max, which offers ERC-20 tokens on the Ethereum network.