At the end of January, trading volume on spot crypto exchanges soared by 65%
The January Bitcoin rally was a key trigger for the surge in user activity on spot cryptocurrency exchanges.
✅ According to CryptoRank, trading volumes soared by 65% last month. In December, the amount of transactions with digital currencies on the spot market amounted to $397 billion, and in January - $657 billion.
Analysts named the reasons for Litecoin's growth by 105% in three months
📊 Experts from the analytical company Santiment named the reason why the Litecoin (LTC) rate has increased by 105% since November 2022.
On November 9, the asset was at a local minimum of $47.6, and on January 29, 2023, it reached $97.77 per 1 LTC, which is the highest level over the past eight months.
What are the reasons for the growth? According to analysts, large LTC holders continued to accumulate coins in their wallets. Over the past seven months, addresses with balances between 100 and 10,000 LTC have added a total of 1.15 million coins, representing 0.5% of Litecoin's total supply. The growth in asset volumes in the wallets of large investors amounted to 4.92%.
Listing altcoins on Binance leads to their increase in price by an average of 41%
⬆️ An analyst at Ren & Heinrich conducted a study of the impact of listing on the Binance cryptocurrency exchange on the further price of tokens.
According to his findings, on the first day after listing, the value of assets increases by an average of 41%, but after 22 days the rate begins to decline.
By the end of 2022, the number of Bitcoin ATMs in the Russian capital reached 7 devices.
✅ According to CoinATMRadar, the seventh terminal was installed in the last days of December in the Europolis shopping center in Rostokino. The operator is RusBit. Using this crypto machine you can buy bitcoins for rubles, but selling cryptocurrency is not yet available.
Institutional interest in crypto funds has dropped to its lowest level since 2018
At the end of 2022, Bitcoin fell in price by more than 60%, and the market decline weakened the interest of institutional investors in crypto funds.
✅ The total inflow of capital into these instruments last year amounted to $433 million. This is the minimum since 2018: then institutions invested only $233 million in crypto funds, reports CoinShares.