Month: January 2023

• Recent Bitcoin gains have resulted in another group of buyers back in the green as prices close in on another key level.
• According to Glassnode, those that bought Bitcoin in 2019 are back in the green again with an average withdrawal price of $21,800.
• Buyers from 2021 are deep in the red on average and won’t see a profit until prices reach $43,400.

The recent surge in Bitcoin prices has been a welcome sight for many in the cryptocurrency market, with investors of different types all seeing their portfolios increase in value. One group of buyers in particular has been able to move back into the green after being deeply in the red for some time – those who purchased Bitcoin in 2019.

According to data from Glassnode, the average withdrawal price for that year was $21,800, meaning that those who bought in 2019 are finally back in the green. Those who bought in 2020 and 2022 still remain in the red on average, with prices needing to move above $28K for the group to see a profit on holdings. Buyers from 2021 are deep in the red, and won’t see a profit until prices reach $43,400.

The recent surge in Bitcoin prices has been a cause for celebration amongst the cryptocurrency community, who have been eagerly awaiting a bull market. This surge has allowed many investors to start seeing returns on their investments, even if those returns are not as high as those who purchased Bitcoin in the earlier days of the cryptocurrency.

The current Bitcoin market rally has been attributed to a number of factors, including increased institutional interest, the weakening US dollar, and the impending halving of Bitcoin’s block rewards. These factors have all combined to create a perfect storm for Bitcoin and other cryptocurrencies, with prices reaching all-time highs and investors seeing returns that have not been seen for a long time.

As Bitcoin continues on its current trajectory, it is likely that more and more investors will be brought into the green, with even those who purchased Bitcoin in 2021 likely to see some kind of return on their investment. For now, it seems that the bull market is here to stay, with investors of all types reaping the rewards of the current market conditions.

• Bitcoin continued to gradually increase in value and tapped yet another multi-month high well above $23,000 before retracing slightly.
• Most altcoins have calmed on a daily scale, aside from OKB and APT.
• Aptos (APT) is the best performer on a weekly scale from the top 100 cryptocurrencies, having soared by almost triple digits in the past seven days.

The cryptocurrency market has seen a lot of activity in the first weeks of 2023, with Bitcoin steadily increasing in value and reaching a new multi-month high of over $23,000 before retracing slightly. While most altcoins have calmed on a daily scale, two stand out in the crowd, with OKB and Aptos (APT) having seen a lot of growth recently.

Aptos has been the best-performing token from the top 100 cryptocurrencies on a weekly basis, with the asset having exploded by almost triple digits in the past seven days. This marks a significant increase from the start of the year, when the token was trading at around $1.50 a few weeks ago. Since then, it has seen a significant surge and reached a new all-time high (ATH) of over $2.90 on January 21.

The surge was mainly driven by an increase in trading volume on major exchanges, with APT recording a peak of over $603 million worth of trades in the past 24 hours. This has been complemented by a notable increase in the token’s market capitalization, which has grown from $182 million to now surpass $300 million.

The strong performance of the token is likely due to the fact that it has been listed on several exchanges in the past few weeks, including Binance, Huobi, and OKEx, which have all helped to drive up the demand for the asset. Additionally, the token has seen a lot of support from the Aptos project team, who have been actively promoting the coin on social media and other platforms.

Overall, it’s clear that Aptos has seen strong growth in the past few weeks, and indications are that this trend is likely to continue in the near future. With the token currently trading at its ATH, it will be interesting to see how much higher it can go in the coming weeks and months.

• 21Shares launched the world’s first crypto staking index ETP (STAKE)
• The index tracks ten crypto-assets, including Binance Coin (BNB), Cardano (ADA), Cosmos (ATOM), Polkadot (DOT), Solana (SOL), and Tezos (XTZ)
• 21Shares is aiming to list the product on Xetra Deutsche Boerse

Zug-based crypto firm 21Shares has announced the launch of the world’s first crypto staking index exchange-traded product (ETP) – 21Shares Staking Basket Index ETP (STAKE). This product provides exposure to staking rewards while tracking the performance of underlying staked coins via a single ETP.

The STAKE index tracks the performance of ten different crypto-assets, including Binance Coin (BNB), Cardano (ADA), Cosmos (ATOM), Polkadot (DOT), Solana (SOL), and Tezos (XTZ). It is the first index of its kind that aims to bridge the gap between the traditional finance and digital assets world, providing exposure to staking rewards to both retail and institutional investors across the world.

21Shares is now aiming to list the STAKE index on Xetra Deutsche Boerse, which is a German-based stock exchange. This will make the product accessible to a wide range of investors, giving them the opportunity to diversify their portfolio and to benefit from staking rewards.

The index was created by 21Shares in collaboration with the Swiss investment bank Vontobel, which is one of the major players in the European financial market. The index is designed to track the staking rewards of the underlying coins, taking into consideration their net staking rewards, staking expenses, and the cost of staking coins.

It is important to note that the STAKE index does not include Ethereum (ETH), which is the largest and most popular proof-of-stake (PoS) network. This is due to the complexity of Ethereum staking and the difficulty of accurately tracking the staking rewards of the network.

In the official press release, 21Shares stated that the STAKE index offers a “unique and cost-efficient investment solution that provides exposure to the staking rewards of the underlying coins and tracks the performance of the underlying staked coins via a single ETP”.

Overall, the launch of 21Shares’ STAKE index is a major milestone for the crypto industry and provides a much-needed bridge between traditional finance and digital assets. It also provides an opportunity for investors to diversify their portfolio and to benefit from the staking rewards of the underlying assets.