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- MicroStrategy has reached a total holding of 447,470 BTC worth $42.4 billion
MicroStrategy has reached a total holding of 447,470 BTC worth $42.4 billion
News on the Blockchain
January 13, 2025
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News on the Blockchain, January 13th, 2025
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🌍 Daily Crypto Market Overview
Global Stats:
Cryptocurrencies: 2.4M+
Exchanges: 778
Market Cap: $3.28T (-1.16%)
24h Volume: $80.1B (+11.49%)
Bitcoin Dominance: 56.92% (+0.42%)
Ethereum Dominance: 11.92%
ETH Gas Price: 2.21 Gwei
Fear & Greed Index: 47 (Neutral)
🪙 Top 5 Cryptocurrencies by Market Cap:
Name | Price | 24h Change | Market Cap | 24h Volume |
|---|---|---|---|---|
Bitcoin (BTC) | $94,306.60 | -0.25% | $1.87T | $26.35B |
Ethereum (ETH) | $3,246.25 | -1.11% | $391.15B | $14.67B |
Tether (USDT) | $0.9996 | -0.01% | $137.39B | $64.50B |
BNB (BNB) | $686.27 | -1.33% | $98.83B | $1.35B |
Solana (SOL) | $185.36 | -0.91% | $89.79B | $1.87B |
💹 Market Highlights:
Total DeFi Volume: $6.15B (7.68% of total market volume)
Stablecoins Volume: $73.07B (91.22% of total market volume)
Coin with Highest % Change: TRUMPAI/SOL (+970%)
🚀 Trending on DexScan:
CHADY/SOL: +977%
BENGY/SOL: +139%
TRUMPAI/SOL: +970%
Willy/SOL: +1005%
USDT/SOL: +1413%
📈 Preview On Today’s News:
- MicroStrategy has reached a total holding of 447,470 BTC worth $42.4 billion
- Dual-Purpose Bitcoin Miner Combines Crypto Power with Home Heating
- Singapore Cracks Down on Unlicensed Crypto Gambling
Keep reading below for more!
Today’s News:
1)
MicroStrategy has reached a total holding of 447,470 BTC worth $42.4 billion
MicroStrategy co-founder Michael Saylor has marked the 10th consecutive week of posting his Bitcoin tracker, signaling another potential acquisition of Bitcoin for the corporate treasury. With the company now holding 447,470 BTC valued at roughly $42.4 billion following a recent purchase of 1,070 BTC, Saylor’s ongoing commitment to his aggressive debt-based “21/21 plan” has reignited debate, particularly as MicroStrategy shares have dropped around 40% from their November highs amid crypto market downturns. Critics, including finance expert David Krause, express concerns that Bitcoin's inherent volatility could erode shareholder equity and risk severe financial consequences, even bankruptcy, if a sharp price decline occurs.
Aggressive Expansion: MicroStrategy continues to double down on its Bitcoin treasury strategy, reinforced by its “21/21 plan” to finance extensive future Bitcoin acquisitions through equity and fixed-income offerings.
Market Volatility Concerns: The company's significant Bitcoin holdings, alongside a 40% drop in share price, have raised alarms about potential vulnerabilities should Bitcoin's volatile price dynamics trigger a drastic market downturn.
2)
Dual-Purpose Bitcoin Miner Combines Crypto Power with Home Heating
Bitcoin ASIC manufacturer Canaan unveiled two innovative Bitcoin mining devices at CES 2025 in Las Vegas: the Avalon Mini 3 and the Avalon Nano 3S. The Avalon Mini 3 delivers high-performance mining at 37.5Th/s while repurposing excess computational energy to heat homes through a user-friendly, app-controlled interface. Meanwhile, the Avalon Nano 3S, an enhanced version of the Nano 3, offers a beginner-friendly entry point into mining with a hash rate of 6Th/s. Emphasizing energy efficiency and ease of use with its plug-and-play setup, Canaan’s new products reflect the company's commitment to sustainable, practical technology that minimizes environmental waste while delivering dual utility.
Innovative Functionality: The Avalon Mini 3 combines powerful Bitcoin mining with home heating, reducing energy waste and offsetting costs, while the Avalon Nano 3S caters to newcomers with its simplified design.
Sustainable Vision: Canaan’s CEO, NG Zhang, highlighted the company’s vision of merging practical user needs with environmental sustainability, echoing past industry moves that have reimagined mining technology beyond digital applications.
3)
Singapore Cracks Down on Unlicensed Crypto Gambling
Singapore has blocked access to Polymarket, a cryptocurrency-based prediction market operating on the Polygon blockchain, as part of its crackdown on unlicensed gambling. Under the Gambling Control Act 2022, users attempting to access the site receive a warning that only state-owned Singapore Pools are permitted to offer gambling services, with violations carrying penalties of up to SG$10,000 or six months in jail. The move reflects the country’s robust regulatory framework, which has blocked over 3,800 gambling websites and overseen SG$37 million in illegal transactions since 2015, even as Singapore continues to assert its leadership in the blockchain space with growing digital asset licenses and a strong presence in crypto-related jobs and innovations.
Singapore’s Gambling Control Act 2022 now restricts access to Polymarket, classifying it as an illegal gambling site with strict penalties, including fines and imprisonment.
Despite stringent gambling regulations, Singapore remains a hub for blockchain innovation, evidenced by its increasing issuance of digital asset licenses and significant investment in crypto-related infrastructure.
Disclaimer:
The information provided in this newsletter is based on our data findings and opinions. It is intended for informational purposes only and should not be considered financial advice. Cryptocurrency investments carry significant risk, and it is important to conduct your own research and consult with a qualified financial advisor before making any investment decisions. We are not responsible for any financial losses or gains you may incur as a result of using this information.
