TOP 5 Cryptos to Watch This Week

1. Bitcoin (BTC) – The King Of Crypto

• Grayscale's GBTC ETF and its continuous selling impact on the market.
• Speculation on Bitcoin transfers from GBTC to Coinbase causing market reactions.
• Bitcoin's current price falling towards a 6-week low at $40,270.

2. Dogecoin (DOGE)

• Speculation about Dogecoin's inclusion in X Payments on the X platform.
• A surge in DOGE's price by 23% within 5 hours after the creation of the X Payments account.
• The importance of following X Payments closely for potential impacts on DOGE's price.

3. Render (RNDR)

• The expected impact of Apple Vision Pro's launch on the Render (RNDR) network.
• Speculation about a potential partnership between Apple and RNDR's parent company, OTOY.
• Rumors fueled by Apple's mention of RNDR during its WWDC 2023 event.

4. Chiliz (CHZ)

• Interest in Chiliz (CHZ) due to promised new tokenomics, including a burn system and staking rewards.
• CEO Alexandre Dreyfus hints at upcoming features and actively engages with the community.
• Excitement around the PEPPER airdrop and encouragement to follow @PepperChain for early access.

5. Frax Share (FXS)

• The upcoming launch of SfrxETH on EigenLayer on January 29th for Frax Share (FXS).
• Anticipation for the launch of Fraxtal, Frax's Layer-2 blockchain, in the first week of February.
• CEO Sam Kazemian's high expectations for Fraxtal's performance, predicting significant growth in TVL and market capitalization.

It's important to note that the cryptocurrency market is highly volatile, and investors should conduct thorough research before making investment decisions.

2024: A Challenging Year For Crypto Investors

Overview of 2023 and 2024:

• 2023 saw incredible stories in the cryptocurrency market, with Bitcoin experiencing a rise from $15,000 to $45,000.
• However, 2024 seems challenging for investors, with the decline in Bitcoin's price continuing.

[BONUS] Top Earning Altcoins of the Week:

• Siacoin (SC) is at the top of the list, experiencing a 23.65% increase over the past 7 days, trading at $0.01345.
• Ronin (RON) is in second place, gaining over 10% in the last week and finding buyers at $2.19.
• Other notable altcoins include PYTH, MANTA, Astar (ASTR), and Flare (FLR), with percentage increases ranging from 2.46% to 15.9% over the past 7 days.
• PYTH and MANTA attracted attention with airdrop announcements.

Current Bitcoin Situation:

• Bitcoin's price fell below $39,000, experiencing a 2% drop from a recent high above $49,000.
• Recent developments related to ETFs, Grayscale, and FTX have generated curiosity about how low Bitcoin's price can go.
• As of the time of writing, the BTC price was at $39,200, with a 2.39% decrease in trading volume, falling below $30 billion.
• The overall volume in the market receded to $768 billion, indicating a decline in investor interest.

It's important to note that the cryptocurrency market is highly dynamic, and prices can change rapidly. Investors are advised to conduct thorough research and consider market trends before making any investment decisions.

Bitcoin ATM's & Kiosk Could Come Under Florida’s New Legislative Proposal

Introduction:

• Republican Senator Colleen Burton introduces Senate Bill 662 targeting Bitcoin and other virtual currency kiosks in Florida.
• The bill aims to regulate crypto ATMs and kiosks, requiring state registration and licensing.

Key Points:

• Senate Bill 662, titled “Virtual Currency Kiosk Businesses,” mandates state registration and supervision of virtual currency kiosk businesses.
• Crypto ATMs and kiosks will fall under regulatory scrutiny, and entities must acquire a license as money services businesses for added oversight.
• The bill provides detailed definitions, including terms like “Virtual currency kiosk,” “Virtual currency kiosk business,” and “Wallet,” crucial for understanding and regulating virtual currency transactions.
• A "Virtual currency kiosk" is defined as an electronic terminal facilitating the exchange of virtual currency for fiat currency or vice versa.
• The bill emphasizes the importance of disclosing specific risks associated with virtual currency transactions to customers, aiming to curb unlawful and fraudulent activities.
• This legislative proposal is part of a broader trend in the U.S. to regulate virtual currency operations. Last year, California proposed a $1,000 daily limit on crypto ATM withdrawals to prevent scams.
• According to Coin ATM Radar, there are over 34,746 crypto ATMs and kiosks operational worldwide, with the United States hosting approximately 29,043.
• The global network of virtual currency kiosks involves 71 countries, 43 producers, and 499 operators.
• In a separate development, Bullet Blockchain recently acquired a network comprising 40 Bitcoin ATMs in the South Florida region.

Context:

• This legislative proposal is one of several bills aimed at regulating virtual currency operations in the U.S.
• The move reflects an increasing focus on addressing risks and preventing fraudulent activities in the virtual currency domain.

Please note that cryptocurrency regulations are subject to change, and investors should stay informed about the evolving regulatory landscape.