Crypto Market Update (Jan 6)

24-Hour Crypto Prices:

BTC – $43,503.04 -6.0% 📉

ETH – $3,519.06 -7.2% 📉

BNB – $470.96 -7.6% 📉

SOL – $152.58 -8.8% 📉

Top Crypto Gainers:

LEO – $3.82 +0.6% 📈

Top Crypto Losers:

CEL – $3.20 -21.2% 📉

ICP – $30.21 -18.2% 📉

AXS – $79.56 -15.3% 📉

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Bitcoin’s price drops to its lowest in a month amid a broader decline across stock markets. The Federal Reserve also discussed a balance-sheet reduction which could increase downward pressure on bitcoin. According to Coingecko, Bitcoin’s price fell to $42,466.69 before recovering to over $43,682,56.

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MoneyGram buys minority investment in cryptocurrency exchange Coinme. This closes out Coinme’s Series A financing round and gives MoneyGram a 4% ownership stake. Coinme first partnered with MoneyGram to accept Bitcoin and act as their custodian. 

“Our unique cash-to-bitcoin offering with Coinme, announced in May of 2021, opened our business to an entirely new customer segment, and we couldn’t be more pleased with our progress. As we accelerate our innovation efforts, partnerships with startups like Coinme will further our position as the industry leader in the utilization of blockchain and similar technologies,” Alex Holmes, MoneyGram Chairman and CEO, said in a statement.

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Cryptowire launched the first Indian cryptocurrency index. The index IC15 will monitor the world’s top 15 cryptocurrencies by market capitalization. The index will be evaluated and rebalanced every quarter by a committee of domain experts, industry practitioners and academicians. Cryptowire hopes the index will encourage the development of crypto ETFs,  funds and increase cryptocurrency awareness.

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NFT data and analytics platform CryptoSlam raised a $9 million seed round led by Animoca Brands. Mark Cuban, Polygon, Binance Smart Chain, OKEx Blockchain Ventures and Sound Ventures also participated in the seed round. CryptoSlam tracks sales data for NFT projects across various blockchains, including Ethereum, Solana, Polygon, Flow and Binance Smart Chain.

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