Bitcoin (BTC) rose to intraday highs of $38,226 on Jan. 29 as the majority of alternative cryptocurrencies or ”altcoins” began to stabilize after a volatile week. At the time of publication, Bitcoin is holding well above $37,000 at a current price of $37,639, and it’s up about 2% over the past 24 hours. Ethereum was seen up 3.95% at $2,598 according to CoinMarketCap data.
Assets such as The Sandbox (SAND, +10.69%), Flow (FLOW, +13.69%), Convex Finance (CVX, +13.81%), Kadena (KDA, +11.22%), Render Token (RNDR, +15.2%), Celsius (CEL, +11.18%), Spell token (SPELL, +14.2%), ConstitutionDAO (PEOPLE, +41.04%), OpenDAO (SOS, +25.15%) were significantly up in the last 24 hours.
Positive Bitcoin news on the horizon remains that of a bill introduced in Arizona which could make Bitcoin legal tender in the state in the unlikely event that the legislation passes and the law goes into effect.
The bill, SB 1341, was introduced by state Sen. Wendy Rogers, a republican. It seeks to amend the list of accepted legal tender to include Bitcoin, which means the cryptocurrency would be accepted for the payment of Debt, Public charges, Taxes, and other dues.
After the Russian president stated earlier that Russia seems to have an advantage in crypto mining, the Russian Government has agreed on a road map to regulate Bitcoin and will implement it by the end of this year.
According to Chinese reporter, Collin Wu, the latest increase in Bitcoin price comes after a Bitfinex buy-in ”a transaction volume of more than 700 BTC appeared on Bitfinex, which raised the BTC price to $38898”.
Constitution DAO is a one-of-a-kind meme coin that arose from a now-defunct experiment. In Nov. 2021, 17,000 people gave a total of $46 million to ConstitutionDAO to purchase an authentic copy of the United States Constitution. The PEOPLE token gave donors a piece of ownership in the DAO or decentralized autonomous organization.
When the group’s bid was defeated by Citadel CEO Ken Griffin on Nov. 18, members were given two options: redeem their PEOPLE tokens and lose money due to gas transaction fees, or claim the token and keep it in their crypto wallet. Many people chose the latter, which caused the price to rise. Since the ConstitutionDAO, the notion of DAOs and crypto collectives has gained traction. PEOPLE trades at $0.076, up 48.35% at press time.
As reported by WhaleStats, the total number of Shiba Inu tokens hodled by whales has surpassed $2 billion worth. The blockchain tracker noted that SHIB had earlier flipped FTX to be the biggest token position by dollar value among the top 1000 ETH wallets as total hodling value passed the $2 billion mark or $2,806,528,218 precisely.
Ethereum co-founder, Vitalik Buterin said that CryptoRelief was sending $100 million of the SHIBA funds back. ”I plan to personally deploy these funds with the help of science advisors to complement CryptoRelief’s existing excellent work with some higher-risk higher-reward covid science and relief projects worldwide”, he says.
The Shiba Search Engine carried out its first-ever burn on Jan. 26. As per data from Etherscan, Shiba Search burned 60,767,062 SHIB worth $1,378.20 at the time of the burn. A fee of 0.0073 Ether was incurred.
SHIB trades at $0.0000217, up 4.71% in the last 24 hours as per CoinMarketCap data.
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