Hello peeps, welcome to another crypto news roundup by Coinigy.
So, last week, CoinGecko just dropped a new report on cryptocurrencies.
Here are 4 WILD stats from it:
- 24,000 cryptocurrencies have been listed on CoinGecko since 2014.
- That’s an average of 7 new tokens, every single day.
- Of those, ~58% have died.
- More than half of the dead tokens launched during the 2021 bull run.
Source: CoinGecko
The big takeaway: there’s always a spike in token “deaths” during bull runs.
Why? It’s getting easier and easier to launch a token. Which means it’s also getting easier and easier to scam.
That’s why the number of dead tokens (mostly rugpulls) jumped from…
- 32 in 2016 → 346 during the 2017 bull run. A 10x increase.
- And then, jumped from 1,806 in 2020 → 5,724 during the 2021 bull run. A 3x increase.
With another bull run coming up, we expect another spike in “dead” tokens.
Watch out and do your own research on projects!
Anyway, here are the highlights from last week:
- Coinbase argues stocks, Terraform Labs, and Howey in 5-hour SEC face-off
- Bitcoin trader who called $48K BTC price top flags new bearish signal
- Fantom Reduces Staking Requirements for Validators
- Ripple (XRP) Faces Bearish Outlook As Price Drops 10% In January
Coinbase argues stocks, Terraform Labs, and Howey in 5-hour SEC face-off
United States District Judge Katherine Polk Failla has heard arguments from the U.S. Securities and Exchange Commission (SEC) and Coinbase on the crypto exchange’s motion for dismissal of a lawsuit filed by the regulator in June 2022. The hearing was held for nearly five hours and provided an extensive overview of the key arguments in courts regarding the crypto space, assets and the SEC’s role in regulating the industry.
Bitcoin trader who called $48K BTC price top flags new bearish signal
Bitcoin (BTC) may have more to lose if one BTC price chart pattern plays out as usual, warns veteran analyst Filbfilb.
In his latest update on X (formerly Twitter) on Jan. 19, the founder of trading suite DecenTrader sounded the alarm over Bitcoin’s descent to monthly lows.
Fantom Reduces Staking Requirements for Validators
The Fantom Foundation has reduced the validator self-staking requirement on Fantom’s layer-1 blockchain by 90%. This change lowers the staking threshold from 500,000 FTM to 50,000 FTM, enhancing security and accessibility for validator operators.
Ripple (XRP) Faces Bearish Outlook As Price Drops 10% In January
XRP’s January drop of 10% is driven by profit-taking and bearish sentiment. It faces further losses after breaking below a bearish triangle pattern risking a 17% correction to $0.5048, its lowest since Oct. 19, 2023.
Other Highlights Worth Mentioning
Bitcoin Inc. has surpassed silver, becoming the second-largest commodity in ETF assets under management (AUM) — Nasdaq
The Hedera Council allocates $408 million in $HBAR for development and governance. — Cointelegraph
BlackRock’s spot Bitcoin ETF now holds 25,067 bitcoins, valued at over $1.06 billion. — Coincu
Algorand Technologies Dynamic Lambda update reduced its layer-1 blockchain block times by 20%, now averaging under three seconds. — Coinlive
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- Source: https://insights.coinigy.com/58-of-cryptos-are-dead/
