The first cryptocurrency fell below $42,000, Solana opened pre-orders for Saga 2, the Blast team announced the launch of a testnet, Ethereum developers activated the Dencun hard fork in the Goerli testnet and other events of the past week.
Bitcoin price fell below $42,000
The first cryptocurrency started the week below $43,000, falling below $41,000 on January 19. At the time of writing, digital gold is trading at $41,600.
Most of the top 10 digital assets by capitalization ended the week in the red zone. Solana (-6.3%) and Cardano (-5.7%) lost the most.
The total capitalization of the cryptocurrency market is $1.72 trillion. Bitcoin dominance index – 51.1%.
Solana opens pre-order for Saga 2
Solana Mobile has announced the second version of its Web3 smartphone – Saga Chapter2. The device is already available for pre-order at a price of $450. Its characteristics are still unknown.
Founder's Window will be available for pre-order for a limited period. After its completion, a new stage of applications will begin at an increased price. Dispatch of orders is planned for the first half of 2025.
Similar to the original, Chapter2 is designed as a crypto smartphone customized for the Solana ecosystem. The phone has a built-in wallet app with additional security features and access to decentralized applications.
Each Saga device had a “genesis token”—an NFT—attached to it, which created a channel for the distribution of rewards to its holders. The company allowed similar functionality to appear in the second version, but did not specify how it would be implemented.
The announcement of the new smartphone was warmly received by users. Many people shared screenshots of pre-orders on X. In two days, the Solana Mobile team received more than 30,000 applications.
The Blast L2 protocol team announced the launch of a testnet
On January 16, the second-layer solution Blast launched a test network, simultaneously initiating a competition for developers.
The total volume of blocked network funds exceeded $1.3 billion with 103,000 active wallets. Blast has become one of the largest L2 protocols, despite its closed invite system.
The Big Bang competition is designed to attract new developers to the project. Between January 17 and February 17, teams will be able to compete for a special airdrop.
In addition, winning apps will be integrated into the Blast mainnet at launch. The competition will be judged by the main developers of the project and other representatives of the crypto industry.
What to discuss with friends?
- The user paid a fee of $173,000 for the Bitcoin transaction.
- An unknown person moved 49,866 BTC that had been dormant for more than five years.
- DEX aggregator Jupiter has set a date for the second airdrop.
- Donald Trump NFTs will appear in the form of Bitcoin “inscriptions”.
Ethereum developers have activated the Dencun hard fork in the Goerli testnet
The Ethereum core team has deployed the Dencun (Cancun-Deneb) update to the Goerli testnet. However, it was not possible to complete the hard fork as planned.
The upgrade was implemented by EIP-4844. It includes the option Proto-Danksharding, designed to scale the network by creating a new type of transaction for large amounts of binary data. This is expected to reduce fees for L2 solutions based on Rollups technology.
It was not possible to complete the full rollout of the upgrade, presumably due to the fact that approximately a fifth of customer operators did not update the software (there were several of them).
Grayscale CEO predicted the collapse of most Bitcoin ETFs
Most of the 11 SEC-approved spot Bitcoin ETFs are likely to fail. This opinion was expressed by Grayscale CEO Michael Sonnenshein.
In his opinion, only “two or three exchange-traded funds will probably achieve some critical mass.”
“I don’t think the 11 spot products that the SEC has approved will end up in the market,” Sonnenschein said.
Grayscale owns one of the largest Bitcoin ETFs – GBTCwhich manages assets worth over $25 billion. In total, about $27 billion or 632,000 BTC are blocked in spot exchange-traded funds for digital gold.
Also on Cryplogger:
Anthony Scaramucci predicted Bitcoin to reach $170,000 by 2025
Quotes of the first cryptocurrency will exceed $170,000 next year. Anthony Scaramucci, founder of SkyBridge Capital, announced this in Davos.
“If Bitcoin is at $45,000 at the time of the halving, which is where it is now, then the asset will reach $170,000 by mid-to-late 2025. […] Wherever the price was on the halving day in April, multiply it by four – Bitcoin will reach this mark in the next 18 months,” the specialist noted.
According to him, the fall in digital gold quotes below $42,000 is due to the transfer of investor assets from GBTC to new exchange-traded funds approved by the SEC.
What else to read?
This week Cryplogger talked about what restaking is and how to make money from it, as well as what monolithic and modular blockchains are.
The traditional digest collected the main events of the week in the field of cybersecurity.
The decentralized finance sector continues to attract increased attention from cryptocurrency investors. Cryplogger has collected the most important events and news of recent weeks in a digest.
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