{"id":35896,"date":"2021-02-05T11:36:48","date_gmt":"2021-02-05T09:36:48","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=35896"},"modified":"2025-08-29T03:34:21","modified_gmt":"2025-08-29T00:34:21","slug":"january-2021-in-numbers-bitcoin-and-ethereum-hit-new-highs-miner-revenues-reach-record-levels-and-the-reddit-factor","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/january-2021-in-numbers-bitcoin-and-ethereum-hit-new-highs-miner-revenues-reach-record-levels-and-the-reddit-factor\/","title":{"rendered":"January 2021 in Numbers: Bitcoin and Ethereum Hit New Highs, Miner Revenues Reach Record Levels, and the Reddit Factor"},"content":{"rendered":"<div class=\"review_top_blk\">\n<h2>Key Highlights<\/h2>\n<ul>\n<li>On 8 January, Bitcoin price hit a new all-time high around $42,000.<\/li>\n<li>The cryptocurrency market cap surpassed $1 trillion for the first time.<\/li>\n<li>Ethereum posted a new all-time high above $1,430.<\/li>\n<li>The month proved record-breaking for spot and derivatives trading volumes.<\/li>\n<li>The value of assets locked in DeFi applications approached $27 billion. Tokens such as 1inch, Curve and others surged several-fold.<\/li>\n<li>The market capitalization of \u201cBitcoin on Ethereum\u201d surpassed $5 billion.<\/li>\n<li>In January, trading on decentralized exchanges (DEX) reached a record $55 billion.<\/li>\n<li>Total market cap of stablecoins rose to $37.5 billion.<\/li>\n<li>Bitcoin miners\u2019 revenues in January rose 58%, surpassing $1 billion \u2014 the highest since December 2017.<\/li>\n<li>Billionaires shifted their rhetoric on Bitcoin. Financial firms are launching Bitcoin funds aimed at big players.<\/li>\n<li>Reddit users\u2019 battle with Wall Street spurred a rally in several stock prices. Its effects spilled over into Dogecoin and created headaches for Robinhood.<\/li>\n<li>Elon Musk described himself as a Bitcoin supporter.<\/li>\n<\/ul>\n<\/div>\n<div class=\"review_single_blk\">\n<h2>Movements of Leading Assets<\/h2>\n<div class=\"reviews_has_halves\">\n<div class=\"review_half\">\n<div id=\"attachment_123884\" style=\"width: 1820px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123884\" class=\"size-full wp-image-123884\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTC-14.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum highs, and Reddit-driven momentum\" width=\"1810\" height=\"876\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTC-14.png 1810w, https:\/\/u1f987.com\/wp-content\/uploads\/BTC-14-300x145.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/BTC-14-1024x496.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/BTC-14-768x372.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/BTC-14-1536x743.png 1536w\" sizes=\"auto, (max-width: 1810px) 100vw, 1810px\" \/><\/p>\n<p id=\"caption-attachment-123884\" class=\"wp-caption-text\">Daily BTC\/USD chart on Bitstamp. Data: TradingView.<\/p>\n<\/div>\n<\/div>\n<div class=\"review_half\">\n<div id=\"attachment_123886\" style=\"width: 1819px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123886\" class=\"size-full wp-image-123886\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/ETH-24.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum highs, and Reddit-driven momentum\" width=\"1809\" height=\"879\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/ETH-24.png 1809w, https:\/\/u1f987.com\/wp-content\/uploads\/ETH-24-300x146.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/ETH-24-1024x498.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/ETH-24-768x373.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/ETH-24-1536x746.png 1536w\" sizes=\"auto, (max-width: 1809px) 100vw, 1809px\" \/><\/p>\n<p id=\"caption-attachment-123886\" class=\"wp-caption-text\">Daily ETH\/USD chart on Bitstamp. Data: TradingView.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<ul>\n<li>In the first week of 2021, Bitcoin crossed the important psychological level of $30,000, <span class=\"AOPEN_1\">having set<\/span> on 8 January a new all-time high around $42,000. The rapid rise of digital gold pushed the market cap above $1 trillion. A correction followed, and the first cryptocurrency declined by about a quarter. By month-end, Bitcoin\u2019s price was up 15%, to $32,192.<\/li>\n<li>The second-largest cryptocurrency also <span class=\"AOPEN_2\">set<\/span> an all-time high \u2014 on 19 January Ethereum traded above $1,430. During January the asset rose by 120%.<\/li>\n<\/ul>\n<\/div>\n<div class=\"review_single_blk\">\n<h2>Market Sentiment and Correlations<\/h2>\n<div class=\"reviews_has_halves\">\n<div class=\"review_half\">\n<div id=\"attachment_123888\" style=\"width: 931px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123888\" class=\"size-full wp-image-123888\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti.-Dannye-alternative.me_..png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum highs, and Reddit-driven momentum\" width=\"921\" height=\"493\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti.-Dannye-alternative.me_..png 921w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti.-Dannye-alternative.me_.-300x161.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti.-Dannye-alternative.me_.-768x411.png 768w\" sizes=\"auto, (max-width: 921px) 100vw, 921px\" \/><\/p>\n<p id=\"caption-attachment-123888\" class=\"wp-caption-text\">Fear and Greed Index dynamics. Data: alternative.me.<\/p>\n<\/div>\n<\/div>\n<div class=\"review_half\">\n<div id=\"attachment_123889\" style=\"width: 1081px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123889\" class=\"size-full wp-image-123889\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Korrelyatsii-aktivov-v-yanvare.-Dannye-BlockchainCenter.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum highs, and Reddit-driven momentum\" width=\"1071\" height=\"406\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Korrelyatsii-aktivov-v-yanvare.-Dannye-BlockchainCenter.png 1071w, https:\/\/u1f987.com\/wp-content\/uploads\/Korrelyatsii-aktivov-v-yanvare.-Dannye-BlockchainCenter-300x114.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Korrelyatsii-aktivov-v-yanvare.-Dannye-BlockchainCenter-1024x388.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Korrelyatsii-aktivov-v-yanvare.-Dannye-BlockchainCenter-768x291.png 768w\" sizes=\"auto, (max-width: 1071px) 100vw, 1071px\" \/><\/p>\n<p id=\"caption-attachment-123889\" class=\"wp-caption-text\">90-day asset correlation readings. Data: Blockchain Center.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<ul>\n<li>In January, correlations of Bitcoin with gold and the S&#038;P 500 were below the 2020 averages.<\/li>\n<li>Historically, digital gold has shown a tight relationship with other Proof-of-Work assets, especially Ethereum and Litecoin, which tend to move in tandem during volatility spikes.<\/li>\n<\/ul>\n<\/div>\n<div class=\"review_single_blk\">\n<h2>Trading Volumes<\/h2>\n<div id=\"attachment_123892\" style=\"width: 1904px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123892\" class=\"size-full wp-image-123892\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/spotovyj-obem-torgov.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum highs, and Reddit-driven momentum\" width=\"1894\" height=\"945\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/spotovyj-obem-torgov.png 1894w, https:\/\/u1f987.com\/wp-content\/uploads\/spotovyj-obem-torgov-300x150.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/spotovyj-obem-torgov-1024x511.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/spotovyj-obem-torgov-768x383.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/spotovyj-obem-torgov-1536x766.png 1536w\" sizes=\"auto, (max-width: 1894px) 100vw, 1894px\" \/><\/p>\n<p id=\"caption-attachment-123892\" class=\"wp-caption-text\">Spot exchange trading volumes, $bn. Data: CryptoCompare.<\/p>\n<\/div>\n<p>January 2021 became a record month for spot-platform trading volumes \u2014 total turnover reached $845 billion.<\/p>\n<p>By exchange, the leader remains Binance ($518 billion). In the top three also are American platforms Coinbase and Kraken \u2014 their January volumes were $117 billion and $56 billion respectively.<\/p>\n<\/div>\n<h2>Futures and Options<\/h2>\n<div class=\"review_single_blk\">\n<div class=\"reviews_has_halves\">\n<div class=\"review_half\">\n<div id=\"attachment_123902\" style=\"width: 1754px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123902\" class=\"size-full wp-image-123902\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/fyuchersy.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum highs, and Reddit-driven momentum\" width=\"1744\" height=\"969\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/fyuchersy.png 1744w, https:\/\/u1f987.com\/wp-content\/uploads\/fyuchersy-300x167.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/fyuchersy-1024x569.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/fyuchersy-768x427.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/fyuchersy-1536x853.png 1536w\" sizes=\"auto, (max-width: 1744px) 100vw, 1744px\" \/><\/p>\n<p id=\"caption-attachment-123902\" class=\"wp-caption-text\">Bitcoin and Ethereum futures trading volumes, $bn. Data: skew.<\/p>\n<\/div>\n<ul>\n<li>January proved to be a record month for crypto derivatives \u2014 total trading volume exceeded <a href=\"https:\/\/t.me\/forklog\/17269\" target=\"_blank\" rel=\"noopener noreferrer\">$2 trillion<\/a>.<\/li>\n<li>In the most active session, January 11, Bitcoin futures turnover reached $170 billion, and Ethereum-based contracts $50 billion.<\/li>\n<li>On a platform basis, Binance remained the leader, but ahead of the busiest sessions CME led in open interest. CME\u2019s share of open positions at peak activity exceeded 18.4% of total OI, equivalent to $2.4 billion.<\/li>\n<\/ul>\n<\/div>\n<div class=\"review_half\">\n<div id=\"attachment_123903\" style=\"width: 1752px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123903\" class=\"size-full wp-image-123903\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/optsiony.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum highs, and Reddit-driven momentum\" width=\"1742\" height=\"956\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/optsiony.png 1742w, https:\/\/u1f987.com\/wp-content\/uploads\/optsiony-300x165.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/optsiony-1024x562.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/optsiony-768x421.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/optsiony-1536x843.png 1536w\" sizes=\"auto, (max-width: 1742px) 100vw, 1742px\" \/><\/p>\n<p id=\"caption-attachment-123903\" class=\"wp-caption-text\">Options trading volumes for Bitcoin and Ethereum, $mln. Data: skew.<\/p>\n<\/div>\n<ul>\n<li>Investors actively traded Bitcoin and Ethereum options in January amid the rapid asset price growth.<\/li>\n<li>In the most active session on 11 January, turnover reached $2.5 billion, $2 billion of which went to the leader of the segment \u2014 Deribit.<\/li>\n<li>On 29 January, the largest expiry of more than 120,000 Bitcoin options took place, worth over $4 billion.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"review_single_blk\" >\n<div id=\"attachment_123905\" style=\"width: 1033px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123905\" class=\"size-full wp-image-123905\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-krupnyh-igrokov-institutsionalov-Commercial-na-CME-1.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum highs, and Reddit-driven momentum\" width=\"1023\" height=\"580\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-krupnyh-igrokov-institutsionalov-Commercial-na-CME-1.png 1023w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-krupnyh-igrokov-institutsionalov-Commercial-na-CME-1-300x170.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-krupnyh-igrokov-institutsionalov-Commercial-na-CME-1-768x435.png 768w\" sizes=\"auto, (max-width: 1023px) 100vw, 1023px\" \/><\/p>\n<p id=\"caption-attachment-123905\" class=\"wp-caption-text\">Dynamics of large institutional positions (Commercial) on CME. Data: CFTC.<\/p>\n<\/div>\n<p>On the regulated market, large institutional players continued to build longs after booking near the historical maximum (+77 contracts). 90 short positions remained unchanged since late December.<\/p>\n<\/div>\n<h2>DeFi<\/h2>\n<div class=\"review_single_blk\">\n<div class=\"reviews_has_halves\">\n<div class=\"review_half\">\n<div id=\"attachment_123943\" style=\"width: 893px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123943\" class=\"size-full wp-image-123943\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore.-Dannye-DeFi-Pulse..png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum highs, and Reddit-driven momentum\" width=\"883\" height=\"514\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore.-Dannye-DeFi-Pulse..png 883w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore.-Dannye-DeFi-Pulse.-300x175.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore.-Dannye-DeFi-Pulse.-768x447.png 768w\" sizes=\"auto, (max-width: 883px) 100vw, 883px\" \/><\/p>\n<p id=\"caption-attachment-123943\" class=\"wp-caption-text\">Dynamics of assets locked in DeFi sector. Data: DeFi Pulse.<\/p>\n<\/div>\n<\/div>\n<div class=\"review_half\">\n<div id=\"attachment_123944\" style=\"width: 721px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123944\" class=\"size-full wp-image-123944\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Top-3-DeFi-proekta-po-stoimosti-zablokirovannyh-sredstv-mlrd.-Dannye-DeFi-Pulse-po-sostoyaniyu-na-1.02.2021..png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum highs, and Reddit-driven momentum\" width=\"711\" height=\"513\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Top-3-DeFi-proekta-po-stoimosti-zablokirovannyh-sredstv-mlrd.-Dannye-DeFi-Pulse-po-sostoyaniyu-na-1.02.2021..png 711w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-3-DeFi-proekta-po-stoimosti-zablokirovannyh-sredstv-mlrd.-Dannye-DeFi-Pulse-po-sostoyaniyu-na-1.02.2021.-300x216.png 300w\" sizes=\"auto, (max-width: 711px) 100vw, 711px\" \/><\/p>\n<p id=\"caption-attachment-123944\" class=\"wp-caption-text\">Top-3 DeFi projects by value locked, $bn. Data: DeFi Pulse (as of 1.02.2021).<\/p>\n<\/div>\n<\/div>\n<\/div>\n<ul>\n<li>In January, the DeFi sector\u2019s growth accelerated. Total value locked (TVL) on smart contracts approached a near-record $27 billion (excluding tokenised Bitcoin like WBTC).<\/li>\n<li>The top trio remained unchanged \u2014 Maker, Aave and Compound. Their TVLs on 1 February stood at $4.8 billion, $3.98 billion and $3.29 billion respectively. The fastest-growing DeFi platform was Aave (+100% vs. the previous month).<\/li>\n<\/ul>\n<\/div>\n<div class=\"review_single_blk\">\n<div class=\"reviews_has_halves\">\n<div class=\"review_half\">\n<div id=\"attachment_123948\" style=\"width: 744px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123948\" class=\"size-full wp-image-123948\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/top-20-DeFi.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum highs, and Reddit-driven momentum\" width=\"734\" height=\"564\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/top-20-DeFi.png 734w, https:\/\/u1f987.com\/wp-content\/uploads\/top-20-DeFi-300x231.png 300w\" sizes=\"auto, (max-width: 734px) 100vw, 734px\" \/><\/p>\n<p id=\"caption-attachment-123948\" class=\"wp-caption-text\">Top-20 DeFi tokens by market cap, sorted by price growth. Data: Messari (as of 1.02.2021).<\/p>\n<\/div>\n<\/div>\n<div class=\"review_half\">\n<div id=\"attachment_123949\" style=\"width: 858px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123949\" class=\"size-full wp-image-123949\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-mln-.-Dannye-DeFi-Pulse.-1.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum highs, and Reddit-driven momentum\" width=\"848\" height=\"455\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-mln-.-Dannye-DeFi-Pulse.-1.png 848w, https:\/\/u1f987.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-mln-.-Dannye-DeFi-Pulse.-1-300x161.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-mln-.-Dannye-DeFi-Pulse.-1-768x412.png 768w\" sizes=\"auto, (max-width: 848px) 100vw, 848px\" \/><\/p>\n<p id=\"caption-attachment-123949\" class=\"wp-caption-text\">Market cap of popular Bitcoin on Ethereum, $m. Data: DeFi Pulse.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<ul>\n<li>During January, many DeFi tokens surged in price; Alpha Finance, 1inch, Curve and Uniswap rose several times.<\/li>\n<li>The &#8216;Bitcoin on Ethereum&#8217; theme continued to grow. HBTC outpaced renBTC in market cap. Total value of assets in the segment surpassed $5 billion.<\/li>\n<\/ul>\n<\/div>\n<div class=\"review_single_blk\">\n<h2>DEX<\/h2>\n<div class=\"reviews_has_halves\">\n<div class=\"review_half\">\n<div id=\"attachment_123955\" style=\"width: 1772px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123955\" class=\"size-full wp-image-123955\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/DEX-3.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum highs, and Reddit-driven momentum\" width=\"1762\" height=\"912\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/DEX-3.png 1762w, https:\/\/u1f987.com\/wp-content\/uploads\/DEX-3-300x155.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/DEX-3-1024x530.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/DEX-3-768x398.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/DEX-3-1536x795.png 1536w\" sizes=\"auto, (max-width: 1762px) 100vw, 1762px\" \/><\/p>\n<p id=\"caption-attachment-123955\" class=\"wp-caption-text\">Dynamics of trading volumes on decentralized exchanges, $bn. Data: Dune Analytics.<\/p>\n<\/div>\n<\/div>\n<div class=\"review_half\">\n<div id=\"attachment_123956\" style=\"width: 559px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123956\" class=\"size-full wp-image-123956\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Rynochnaya-dolya-krupnejshih-DEX.-Dannye-Dune-Analytics-po-sostoyaniyu-na-1.02.2021..png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum highs, and Reddit-driven momentum\" width=\"549\" height=\"368\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Rynochnaya-dolya-krupnejshih-DEX.-Dannye-Dune-Analytics-po-sostoyaniyu-na-1.02.2021..png 549w, https:\/\/u1f987.com\/wp-content\/uploads\/Rynochnaya-dolya-krupnejshih-DEX.-Dannye-Dune-Analytics-po-sostoyaniyu-na-1.02.2021.-300x201.png 300w\" sizes=\"auto, (max-width: 549px) 100vw, 549px\" \/><\/p>\n<p id=\"caption-attachment-123956\" class=\"wp-caption-text\">Market shares of the largest DEXes. Data: Dune Analytics as of 1.02.2021.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<ul>\n<li>In January, decentralized exchanges enjoyed particular popularity. For the month, total trading volume in this segment reached $55 billion for the first time.<\/li>\n<li>Uniswap remained dominant \u2014 in January it accounted for 48% of total monthly DEX turnover ($25.7 billion). The top three also included the competing platform SushiSwap ($12.1 billion) and Curve ($6.2 billion).<\/li>\n<\/ul>\n<\/div>\n<div class=\"review_single_blk\">\n<h2>Stablecoins<\/h2>\n<div class=\"reviews_has_thirds\">\n<div class=\"review_third\">\n<div id=\"attachment_123961\" style=\"width: 1606px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123961\" class=\"size-full wp-image-123961\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/stejblkoiny.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum Hit New Highs\" width=\"1596\" height=\"781\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/stejblkoiny.png 1596w, https:\/\/u1f987.com\/wp-content\/uploads\/stejblkoiny-300x147.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/stejblkoiny-1024x501.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/stejblkoiny-768x376.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/stejblkoiny-1536x752.png 1536w\" sizes=\"auto, (max-width: 1596px) 100vw, 1596px\" \/><\/p>\n<p id=\"caption-attachment-123961\" class=\"wp-caption-text\">Dynamics of total stablecoin market cap, $bn. Data: Messari.<\/p>\n<\/div>\n<\/div>\n<div class=\"review_third\">\n<div id=\"attachment_123962\" style=\"width: 802px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123962\" class=\"size-full wp-image-123962\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-vedushhih-stejblkoinov-po-kapitalizatsii-mlrd-.-Dannye-Messari-po-sostoyaniyu-na-1.02.2021..png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum Hit New Highs\" width=\"792\" height=\"465\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-vedushhih-stejblkoinov-po-kapitalizatsii-mlrd-.-Dannye-Messari-po-sostoyaniyu-na-1.02.2021..png 792w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-vedushhih-stejblkoinov-po-kapitalizatsii-mlrd-.-Dannye-Messari-po-sostoyaniyu-na-1.02.2021.-300x176.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-vedushhih-stejblkoinov-po-kapitalizatsii-mlrd-.-Dannye-Messari-po-sostoyaniyu-na-1.02.2021.-768x451.png 768w\" sizes=\"auto, (max-width: 792px) 100vw, 792px\" \/><\/p>\n<p id=\"caption-attachment-123962\" class=\"wp-caption-text\">Top-5 leading stablecoins by market cap, $bn. Data: Messari (as of 1.02.2021).<\/p>\n<\/div>\n<\/div>\n<div class=\"review_third\">\n<div id=\"attachment_123963\" style=\"width: 1810px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123963\" class=\"size-full wp-image-123963\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/glassnode-studio_usd-coin-net-transfer-volume-from-to-exchanges-all-exchanges-30-d-moving-average.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum Hit New Highs\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/glassnode-studio_usd-coin-net-transfer-volume-from-to-exchanges-all-exchanges-30-d-moving-average.png 1800w, https:\/\/u1f987.com\/wp-content\/uploads\/glassnode-studio_usd-coin-net-transfer-volume-from-to-exchanges-all-exchanges-30-d-moving-average-300x169.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/glassnode-studio_usd-coin-net-transfer-volume-from-to-exchanges-all-exchanges-30-d-moving-average-1024x576.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/glassnode-studio_usd-coin-net-transfer-volume-from-to-exchanges-all-exchanges-30-d-moving-average-768x432.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/glassnode-studio_usd-coin-net-transfer-volume-from-to-exchanges-all-exchanges-30-d-moving-average-1536x864.png 1536w\" sizes=\"auto, (max-width: 1800px) 100vw, 1800px\" \/><\/p>\n<p id=\"caption-attachment-123963\" class=\"wp-caption-text\">USDC flows to and from centralized exchanges. Data: Glassnode.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<ul>\n<li>In January, the overall stablecoin market cap rose by $7.5 billion \u2014 from around $30 billion to $37.5 billion.<\/li>\n<li>The leader of the segment remains USDT from Tether, with capitalization exceeding $27 billion.<\/li>\n<li>In terms of growth, Centre\u2019s USDC surpassed all other stablecoins; supply grew by 50% in January, to near $6 billion. Binance\u2019s BUSD also rose significantly.<\/li>\n<li>Glassnode CTO Rafael Schulze-Kraft noted the exponential growth of exchange balances in USDC. He regards this as \u201cfuel\u201d for the future rise in Bitcoin\u2019s price.<\/li>\n<\/ul>\n<\/div>\n<div class=\"review_single_blk\">\n<h2>P2P Trading<\/h2>\n<div class=\"reviews_has_halves\">\n<div class=\"review_half\">\n<div id=\"attachment_123965\" style=\"width: 1778px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123965\" class=\"size-full wp-image-123965\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/local-usd.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum hit new highs\" width=\"1768\" height=\"852\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/local-usd.png 1768w, https:\/\/u1f987.com\/wp-content\/uploads\/local-usd-300x145.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/local-usd-1024x493.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/local-usd-768x370.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/local-usd-1536x740.png 1536w\" sizes=\"auto, (max-width: 1768px) 100vw, 1768px\" \/><\/p>\n<p id=\"caption-attachment-123965\" class=\"wp-caption-text\">LocalBitcoins p2p trading volumes in 2020-2021, $m. Data: coin.dance.<\/p>\n<\/div>\n<\/div>\n<div class=\"review_half\">\n<div id=\"attachment_123966\" style=\"width: 1812px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123966\" class=\"size-full wp-image-123966\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/local-btc.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum hit new highs\" width=\"1802\" height=\"926\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/local-btc.png 1802w, https:\/\/u1f987.com\/wp-content\/uploads\/local-btc-300x154.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/local-btc-1024x526.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/local-btc-768x395.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/local-btc-1536x789.png 1536w\" sizes=\"auto, (max-width: 1802px) 100vw, 1802px\" \/><\/p>\n<p id=\"caption-attachment-123966\" class=\"wp-caption-text\">LocalBitcoins p2p trading volumes in 2020-2021, BTC. Data: coin.dance.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p>The same LocalBitcoins trend of deceleration is visible on rival Paxful. Trading volume fell to below 1,000 BTC. In USD terms, turnover declined by about a quarter.<\/p>\n<\/div>\n<div class=\"review_single_blk\">\n<h2>Mining, Hashrate, Fees<\/h2>\n<div class=\"review_single_blk\">\n<div class=\"reviews_has_halves\">\n<div class=\"review_half\">\n<div id=\"attachment_123970\" style=\"width: 1278px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123970\" class=\"size-full wp-image-123970\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-s-nachala-goda-EH-s.-Dannye-Glassnode.-1.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum hit new highs\" width=\"1268\" height=\"592\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-s-nachala-goda-EH-s.-Dannye-Glassnode.-1.png 1268w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-s-nachala-goda-EH-s.-Dannye-Glassnode.-1-300x140.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-s-nachala-goda-EH-s.-Dannye-Glassnode.-1-1024x478.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-s-nachala-goda-EH-s.-Dannye-Glassnode.-1-768x359.png 768w\" sizes=\"auto, (max-width: 1268px) 100vw, 1268px\" \/><\/p>\n<p id=\"caption-attachment-123970\" class=\"wp-caption-text\">Bitcoin hash rate dynamics since the start of the year, EH\/s. Data: Glassnode.<\/p>\n<\/div>\n<\/div>\n<div class=\"review_half\">\n<div id=\"attachment_123971\" style=\"width: 1061px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123971\" class=\"size-full wp-image-123971\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-Ethereum-h-s.-Dannye-Glassnode..png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum hit new highs\" width=\"1051\" height=\"549\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-Ethereum-h-s.-Dannye-Glassnode..png 1051w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-Ethereum-h-s.-Dannye-Glassnode.-300x157.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-Ethereum-h-s.-Dannye-Glassnode.-1024x535.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-heshrejta-Ethereum-h-s.-Dannye-Glassnode.-768x401.png 768w\" sizes=\"auto, (max-width: 1051px) 100vw, 1051px\" \/><\/p>\n<p id=\"caption-attachment-123971\" class=\"wp-caption-text\">Ethereum hashrate dynamics, H\/s. Data: Glassnode.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<ul>\n<li>Despite the correction after the new all-time high, the Bitcoin hashrate, correlated with price, rose by more than 8%. This signals miners\u2019 confidence in the long-term prospects of the first cryptocurrency.<\/li>\n<li>Against the backdrop of the rapid price rise, Ethereum hashrate rose by 21%. This points to high profitability and renewed interest from domestic miners in mining the second-largest cryptocurrency.<\/li>\n<\/ul>\n<\/div>\n<div class=\"review_single_blk\">\n<div class=\"reviews_has_halves\">\n<div class=\"review_half\">\n<div id=\"attachment_123973\" style=\"width: 852px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123973\" class=\"size-full wp-image-123973\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dohody_bitkoin_majnerov_po_mesyatsam_mln__Dannye_Coin_Metrics.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum hit new highs\" width=\"842\" height=\"505\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dohody_bitkoin_majnerov_po_mesyatsam_mln__Dannye_Coin_Metrics.png 842w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody_bitkoin_majnerov_po_mesyatsam_mln__Dannye_Coin_Metrics-300x180.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody_bitkoin_majnerov_po_mesyatsam_mln__Dannye_Coin_Metrics-768x461.png 768w\" sizes=\"auto, (max-width: 842px) 100vw, 842px\" \/><\/p>\n<p id=\"caption-attachment-123973\" class=\"wp-caption-text\">Bitcoin miners\u2019 revenue by month, $m. Data: Coin Metrics.<\/p>\n<\/div>\n<\/div>\n<div class=\"review_half\">\n<div id=\"attachment_123974\" style=\"width: 1105px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123974\" class=\"size-full wp-image-123974\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dohody_Ethereum_majnerov_po_mesyatsam_mln__Dannye_Coin_Metrics.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum hit new highs\" width=\"1095\" height=\"506\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dohody_Ethereum_majnerov_po_mesyatsam_mln__Dannye_Coin_Metrics.png 1095w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody_Ethereum_majnerov_po_mesyatsam_mln__Dannye_Coin_Metrics-300x139.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody_Ethereum_majnerov_po_mesyatsam_mln__Dannye_Coin_Metrics-1024x473.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dohody_Ethereum_majnerov_po_mesyatsam_mln__Dannye_Coin_Metrics-768x355.png 768w\" sizes=\"auto, (max-width: 1095px) 100vw, 1095px\" \/><\/p>\n<p id=\"caption-attachment-123974\" class=\"wp-caption-text\">Ethereum miners\u2019 revenues by month, $m. Data: Coin Metrics.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<ul>\n<li>Total Bitcoin miners\u2019 revenue in January rose 58%, <span class=\"AOPEN_6\">surpassing the $1 billion mark<\/span>.<br \/>\nThis was the highest since December 2017.<\/li>\n<li>$977.7 million of the $1.09 billion came from block rewards \u2014 a record; $112.8 million came from fees.<\/li>\n<li>Ethereum miners earned $798 million in the month, beating the three-year high of $762 million.<\/li>\n<li>Revenue growth was driven by ETH\u2019s move to a new all-time high above $1,400. 40% of January inflows came from transaction fees.<\/li>\n<\/ul>\n<\/div>\n<div class=\"review_single_blk has_double_cols\">\n<div class=\"reviews_has_halves stretch\">\n<div class=\"review_half\">\n<div id=\"attachment_123977\" style=\"width: 980px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123977\" class=\"size-full wp-image-123977\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu.-Dannye-Blockchair..png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum hit new highs\" width=\"970\" height=\"577\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu.-Dannye-Blockchair..png 970w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu.-Dannye-Blockchair.-300x178.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu.-Dannye-Blockchair.-768x457.png 768w\" sizes=\"auto, (max-width: 970px) 100vw, 970px\" \/><\/p>\n<p id=\"caption-attachment-123977\" class=\"wp-caption-text\">Average BTC- and ETH-transaction fees. Data: Blockchair.<\/p>\n<\/div>\n<\/div>\n<div class=\"review_half\">\n<ul>\n<li>In January, Ethereum transaction fees rose by 220% \u2014 to $10.60 (as of 1 February).<\/li>\n<li>Bitcoin transaction fees rose by 162% \u2014 to $14.44 in the same period.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<h2>On-Chain Data<\/h2>\n<div class=\"review_single_blk\">\n<div class=\"reviews_has_halves\">\n<div class=\"review_half\">\n<div id=\"attachment_123982\" style=\"width: 1046px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123982\" class=\"size-full wp-image-123982\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Protsent-ot-rynochnogo-predlozheniya-bitkoina-ne-peremeshhavshegosya-bolee-dvuh-let.-Dannye-Glassnode..png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum hit new highs\" width=\"1036\" height=\"618\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Protsent-ot-rynochnogo-predlozheniya-bitkoina-ne-peremeshhavshegosya-bolee-dvuh-let.-Dannye-Glassnode..png 1036w, https:\/\/u1f987.com\/wp-content\/uploads\/Protsent-ot-rynochnogo-predlozheniya-bitkoina-ne-peremeshhavshegosya-bolee-dvuh-let.-Dannye-Glassnode.-300x179.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Protsent-ot-rynochnogo-predlozheniya-bitkoina-ne-peremeshhavshegosya-bolee-dvuh-let.-Dannye-Glassnode.-1024x611.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Protsent-ot-rynochnogo-predlozheniya-bitkoina-ne-peremeshhavshegosya-bolee-dvuh-let.-Dannye-Glassnode.-768x458.png 768w\" sizes=\"auto, (max-width: 1036px) 100vw, 1036px\" \/><\/p>\n<p id=\"caption-attachment-123982\" class=\"wp-caption-text\">Percentage of Bitcoin supply that has not moved in more than two years. Data: Glassnode.<\/p>\n<\/div>\n<\/div>\n<div class=\"review_half\">\n<div id=\"attachment_123983\" style=\"width: 966px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123983\" class=\"size-full wp-image-123983\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/TSena-bitkoina-i-chislo-adresov-s-1000-BTC.-Dannye-Glassnode..png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum hit new highs\" width=\"956\" height=\"609\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/TSena-bitkoina-i-chislo-adresov-s-1000-BTC.-Dannye-Glassnode..png 956w, https:\/\/u1f987.com\/wp-content\/uploads\/TSena-bitkoina-i-chislo-adresov-s-1000-BTC.-Dannye-Glassnode.-300x191.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/TSena-bitkoina-i-chislo-adresov-s-1000-BTC.-Dannye-Glassnode.-768x489.png 768w\" sizes=\"auto, (max-width: 956px) 100vw, 956px\" \/><\/p>\n<p id=\"caption-attachment-123983\" class=\"wp-caption-text\">Bitcoin price and number of addresses with \u2265 1000 BTC. Data: Glassnode.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<ul>\n<li>In January, the share of Bitcoin supply that has not moved in more than two years fell by about 1.5% \u2014 possibly as long-term holders realise profits after the Bitcoin reached its all-time high.<\/li>\n<li>Despite the rise in liquid supply, the number of \u201cwhale\u201d addresses (\u2265 1000 BTC) grew by 8.6%.<\/li>\n<li>In January, 22.3 million addresses were active on the Bitcoin network \u2014 an all-time high.<\/li>\n<\/ul>\n<\/div>\n<div class=\"review_single_blk\">\n<div class=\"reviews_has_halves\">\n<div class=\"review_half\">\n<div id=\"attachment_123985\" style=\"width: 1017px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123985\" class=\"size-full wp-image-123985\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/TSena-bitkoina-i-dinamika-balansov-tsentralizovannyh-birzh-tysyach-BTC.-Dannye-Glassnode-Yahoo-Finance.-1.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum Hit New Highs\" width=\"1007\" height=\"607\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/TSena-bitkoina-i-dinamika-balansov-tsentralizovannyh-birzh-tysyach-BTC.-Dannye-Glassnode-Yahoo-Finance.-1.png 1007w, https:\/\/u1f987.com\/wp-content\/uploads\/TSena-bitkoina-i-dinamika-balansov-tsentralizovannyh-birzh-tysyach-BTC.-Dannye-Glassnode-Yahoo-Finance.-1-300x181.png 300w\" sizes=\"auto, (max-width: 1007px) 100vw, 1007px\" \/><\/p>\n<p id=\"caption-attachment-123985\" class=\"wp-caption-text\">Bitcoin price and Centralized Exchange balances, thousand BTC. Data: Glassnode, Yahoo Finance.<\/p>\n<\/div>\n<\/div>\n<div class=\"review_half\">\n<div id=\"attachment_123986\" style=\"width: 1112px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123986\" class=\"size-full wp-image-123986\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Birzhevye-balansy-i-dolya-predlozheniya-Ethereum-zadejstvovannogo-v-smart-kontraktah.-Dannye-Glassnode.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum Hit New Highs\" width=\"1102\" height=\"664\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Birzhevye-balansy-i-dolya-predlozheniya-Ethereum-zadejstvovannogo-v-smart-kontraktah.-Dannye-Glassnode.png 1102w, https:\/\/u1f987.com\/wp-content\/uploads\/Birzhevye-balansy-i-dolya-predlozheniya-Ethereum-zadejstvovannogo-v-smart-kontraktah.-Dannye-Glassnode-300x181.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Birzhevye-balansy-i-dolya-predlozheniya-Ethereum-zadejstvovannogo-v-smart-kontraktah.-Dannye-Glassnode-1024x617.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Birzhevye-balansy-i-dolya-predlozheniya-Ethereum-zadejstvovannogo-v-smart-kontraktah.-Dannye-Glassnode-768x463.png 768w\" sizes=\"auto, (max-width: 1102px) 100vw, 1102px\" \/><\/p>\n<p id=\"caption-attachment-123986\" class=\"wp-caption-text\">Exchange balances and share of Ethereum supply engaged in smart contracts. Data: Glassnode.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<ul>\n<li>The ongoing trend of shrinking balances on centralized exchanges may reflect participants taking control of their funds and a reduction in temporary preference.<\/li>\n<li>The supply of Ethereum on centralized exchanges also decreased amid rising ETH deployed in smart contracts. This is largely tied to DeFi activity, where there are broad opportunities for borrowing collateral and deploying spare funds profitably. It may also reflect reduced user trust in centralized exchanges.<\/li>\n<\/ul>\n<\/div>\n<div class=\"review_single_blk\">\n<div id=\"attachment_123987\" style=\"width: 1067px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123987\" class=\"size-full wp-image-123987\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-ETH-v-stejkinge-Ethereum-2.0.-Dannye-Glassnode..png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum hit new highs\" width=\"1057\" height=\"633\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-ETH-v-stejkinge-Ethereum-2.0.-Dannye-Glassnode..png 1057w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-ETH-v-stejkinge-Ethereum-2.0.-Dannye-Glassnode.-300x180.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-ETH-v-stejkinge-Ethereum-2.0.-Dannye-Glassnode.-1024x613.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-ETH-v-stejkinge-Ethereum-2.0.-Dannye-Glassnode.-768x460.png 768w\" sizes=\"auto, (max-width: 1057px) 100vw, 1057px\" \/><\/p>\n<p id=\"caption-attachment-123987\" class=\"wp-caption-text\">ETH in staking on Ethereum 2.0. Data: Glassnode.<\/p>\n<\/div>\n<p>By the end of January, more than 2.8 million ETH were in the deposit contract of the new system (+32% vs. the previous period). A decline in active supply with steady demand for Ethereum could support long-term growth for the second-largest cryptocurrency.<\/p>\n<\/div>\n<h2>Activity of Major Players<\/h2>\n<div class=\"review_single_blk\">\n<h3>Grayscale<\/h3>\n<div class=\"reviews_has_halves\">\n<div class=\"review_half\">\n<div id=\"attachment_123989\" style=\"width: 1256px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123989\" class=\"size-full wp-image-123989\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Grayscale-1.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum hit new highs\" width=\"1246\" height=\"554\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Grayscale-1.png 1246w, https:\/\/u1f987.com\/wp-content\/uploads\/Grayscale-1-300x133.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Grayscale-1-1024x455.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Grayscale-1-768x341.png 768w\" sizes=\"auto, (max-width: 1246px) 100vw, 1246px\" \/><\/p>\n<p id=\"caption-attachment-123989\" class=\"wp-caption-text\">Bitcoin inflows into Grayscale GBTC trust. Data: bybt.<\/p>\n<\/div>\n<\/div>\n<div class=\"review_half\">\n<div id=\"attachment_123990\" style=\"width: 975px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-123990\" class=\"size-full wp-image-123990\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Aktivy-Grayscale-Bitcoin-Trust-tysyach-BTC.-Dannye-grayscale.co_.-3.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum hit new highs\" width=\"965\" height=\"620\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Aktivy-Grayscale-Bitcoin-Trust-tysyach-BTC.-Dannye-grayscale.co_.-3.png 965w, https:\/\/u1f987.com\/wp-content\/uploads\/Aktivy-Grayscale-Bitcoin-Trust-tysyach-BTC.-Dannye-grayscale.co_.-3-300x193.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Aktivy-Grayscale-Bitcoin-Trust-tysyach-BTC.-Dannye-grayscale.co_.-3-768x493.png 768w\" sizes=\"auto, (max-width: 965px) 100vw, 965px\" \/><\/p>\n<p id=\"caption-attachment-123990\" class=\"wp-caption-text\">GBTC assets (thousand BTC). Data: grayscale.co.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<ul>\n<li>In January, Grayscale Bitcoin Trust (GBTC) attracted 41,430 BTC.<\/li>\n<li>The firm posted a record daily inflow \u2014 on 18 January the GBTC balance rose by 16,244 BTC (~$600 million).<\/li>\n<li>As of the end of the month the GBTC trust held 648,470 BTC ($22 billion).<\/li>\n<\/ul>\n<\/div>\n<div class=\"review_single_blk\">\n<h3>MicroStrategy<\/h3>\n<p>Having previously invested more than $1 billion in Bitcoin, MicroStrategy purchased an additional 313 BTC for $10 million. The average purchase price was $31,808. As of 1 February 2021, the company held 70,784 BTC, valued at $2.4 billion.<\/p>\n<p>CEO Michael Saylor, in a Q4 earnings release, stated that MicroStrategy will continue to deploy free cash into Bitcoin and will consider new opportunities for investing.<\/p>\n<\/div>\n<div class=\"review_single_blk\">\n<h3>BlackRock<\/h3>\n<p>The world\u2019s largest asset manager BlackRock ($7.8 trillion) <span class=\"AOPEN_10\">has filed requests<\/span> with the SEC to approve Bitcoin futures trading through two of its funds.<\/p>\n<\/div>\n<div class=\"review_single_blk\">\n<h3>Other Players<\/h3>\n<ul>\n<li>Ray Dalio, founder of hedge fund Bridgewater Associates, who previously criticised Bitcoin, did not rule out that his firm may consider investments in the first cryptocurrency.<\/li>\n<li><span class=\"AOPEN_12\">Having invested $182 million<\/span> in Bitcoin, SkyBridge Capital\u2019s Anthony Scaramucci launched a Bitcoin-focused fund with $310 million in assets.<\/li>\n<li>Kryptovalut bank Galaxy Digital founder Mike Novogratz <span class=\"AOPEN_13\">will launch<\/span> three Ethereum funds \u2014 one for institutional investors and two for retail; the firm also <span class=\"AOPEN_14\">announced<\/span> the launch of a mining-focused division.<\/li>\n<li>Pantera Capital <span class=\"AOPEN_15\">will lend<\/span> to a Bitcoin fund aimed at institutional investors.<\/li>\n<li>Endowments of Harvard, Yale, Brown and Michigan reportedly invested in cryptocurrency through Coinbase.<\/li>\n<li>BlockFi\u2019s lending platform <span class=\"AOPEN_16\">filed<\/span> with the SEC to launch a Bitcoin-based investment fund.<\/li>\n<li>Custody provider Anchorage <span class=\"AOPEN_17\">received<\/span> a national digital assets bank license.<\/li>\n<\/ul>\n<\/div>\n<div class=\"review_single_blk\">\n<h2>Key Regional Developments<\/h2>\n<div class=\"reviews_has_halves stretch\">\n<div class=\"review_half\">\n<div class=\"review_single_blk has_region\">\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-81141\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Frame.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum hit new highs\" width=\"106\" height=\"80\" \/><\/p>\n<ul>\n<li>President of Ukraine Volodymyr Zelenskyy <span class=\"AOPEN_18\">was proposed<\/span> for a government position to lead asset tokenisation and a national digital currency program.<\/li>\n<li>At the Rivne Nuclear Power Plant, a contractor for building a mining center worth 9 million hryvnias was <span class=\"AOPEN_19\">approved<\/span>.<\/li>\n<li>Rada deputies <span class=\"AOPEN_20\">own<\/span> cryptocurrencies worth 5.7 billion hryvnias.<\/li>\n<li>Ministry of Digital Transformation and Stellar <span class=\"AOPEN_21\">signed<\/span> a memorandum of cooperation on virtual assets.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<div class=\"review_half\">\n<div class=\"review_single_blk has_region\">\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-81142\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Frame-1.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum hit new highs\" width=\"105\" height=\"\" \/><\/p>\n<ul>\n<li>In Russia, the Tax Code will be amended to regulate crypto tax treatment.<\/li>\n<li>The Bank of Russia <span class=\"AOPEN_23\">set<\/span> a limit of 600,000 rubles on retail investment in digital assets.<\/li>\n<li>The Ministry of Justice and National Association of Private Traders and Investors on financial markets <span class=\"AOPEN_24\">registered<\/span> as an entity; one focus will be improving regulation of the crypto market.<\/li>\n<li>The Bank of Russia <span class=\"AOPEN_25\">saw<\/span> demand for a digital ruble and <span class=\"AOPEN_26\">projected<\/span> higher rates for holders of accounts and deposits; experts see risks to commercial banks and question the feasibility of a CBDC launch.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<h2>Regulation<\/h2>\n<div class=\"review_single_blk\">\n<h2>Key Appointments After the US Elections<\/h2>\n<ul>\n<li>US President Joe Biden <span class=\"AOPEN_28\">nominated<\/span> Gary Gensler to lead the US Securities and Exchange Commission. Gensler is a former CFTC chair and Goldman Sachs veteran, known for a crypto-friendly stance.<\/li>\n<li>Janet Yellen was <span class=\"AOPEN_29\">appointed<\/span> to the position of Treasury Secretary. She has in the past described Bitcoin as a speculative asset used to finance terrorism, and <span class=\"AOPEN_30\">promised to monitor<\/span> the industry after her appointment. She later called for a \u201cbalanced\u201d fintech regulation.<\/li>\n<li>Brian Brooks <span class=\"AOPEN_32\">left<\/span> his post as OCC head; reports suggest Biden <span class=\"AOPEN_33\">may appoint<\/span> former Ripple counsel Michael Barr to head the agency.<\/li>\n<li>Under Biden, the head of the US Commodity Futures Trading Commission (CFTC) also changed. Rostin Behnam was named acting chair, after Hester Peirce; he had advocated a level-headed approach to regulating fintech, including blockchain and crypto assets.<\/li>\n<\/ul>\n<\/div>\n<div class=\"review_single_blk has_map review_2_map\">\n<h2>Other Regulatory Developments<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Group-2644-6.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum hit new highs\" width=\"2350\" height=\"1182\" \/><\/p>\n<div class=\"country_blk\" data-blk=\"1\">\n<p>Joe Biden <span class=\"AOPEN_34\">froze<\/span> a number of initiatives from former US President Donald Trump, including a FinCEN proposal to verify non-custodial crypto wallets. The regulator <span class=\"AOPEN_35\">extended<\/span> the discussion period by 60 days.<\/p>\n<p>The US Treasury\u2019s Office of the Comptroller of the Currency <span class=\"AOPEN_36\">allowed<\/span> national banks and federal savings associations to use public blockchains and stablecoins for settlements.<\/p>\n<\/div>\n<div class=\"country_blk\" data-blk=\"2\"><strong>Philippines<\/strong> <span class=\"AOPEN_37\">introduced<\/span> mandatory licensing for crypto service providers.<\/div>\n<div class=\"country_blk\" data-blk=\"3\">In <strong>South Africa<\/strong> regulators again aim to <span class=\"AOPEN_38\">develop<\/span> a regulatory framework for crypto amid rising Ponzi activity.<\/div>\n<div class=\"country_blk\" data-blk=\"4\">Bitstamp tightened KYC for users in <strong>the Netherlands<\/strong> due to regional scrutiny. Changes require adding a withdrawal address to the white list and wallet ownership verification via photo.<\/div>\n<div class=\"country_blk\" data-blk=\"5\">A resident of <strong>the United Kingdom<\/strong> <span class=\"AOPEN_39\">registered<\/span> a petition to ban crypto transactions. The Financial Conduct Authority <span class=\"AOPEN_40\">warned<\/span> of risks in crypto derivatives. The region also <span class=\"AOPEN_41\">considered<\/span> regulation of crypto assets and stablecoins akin to traditional financial services; on 6 January a ban on the sale of crypto derivatives to retail investors <span class=\"AOPEN_42\">took effect<\/span>.<\/div>\n<div class=\"country_blk\" data-blk=\"6\">Head of the <strong>European Central Bank<\/strong> Christine Lagarde <span class=\"AOPEN_43\">described<\/span> Bitcoin as a speculative asset requiring regulation.<\/div>\n<div class=\"country_blk\" data-blk=\"7\">The <strong>Dubai<\/strong> Financial Services Authority will <span class=\"AOPEN_44\">begin work on creating<\/span> a regulatory framework for digital assets in 2021-2022.<\/div>\n<\/div>\n<div class=\"review_single_blk has_map review_2_map m\">\n<h2>Other Regulatory Developments<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Group-2644-6.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum hit new highs\" width=\"2350\" height=\"1182\" \/><\/p>\n<div class=\"country_blk\" data-blk=\"1\">\n<p>Joe Biden <span class=\"AOPEN_45\">froze<\/span> a number of initiatives from former US President Donald Trump. One of them was the FinCEN proposal to verify users of non-custodial wallets. The regulator <span class=\"AOPEN_46\">extended<\/span> the discussion period by 60 days.<\/p>\n<p>The OCC <span class=\"AOPEN_47\">allowed<\/span> national banks and federal savings associations to use public blockchains and stablecoins for settlements.<\/p>\n<\/div>\n<div class=\"country_blk\" data-blk=\"2\"><strong>Philippines<\/strong> <span class=\"AOPEN_48\">introduced<\/span> mandatory licensing for crypto service providers.<\/div>\n<div class=\"country_blk\" data-blk=\"3\">In <strong>South Africa<\/strong> regulators again plan to <span class=\"AOPEN_49\">develop<\/span> a regulatory framework for crypto amid rising Ponzi activity.<\/div>\n<div class=\"country_blk\" data-blk=\"4\">Bitstamp tightened KYC for Netherlands-based users; changes require adding a withdrawal address to the white list and wallet-verification via photo.<\/div>\n<div class=\"country_blk\" data-blk=\"5\">A UK resident <span class=\"AOPEN_50\">registered<\/span> a petition to ban crypto transactions. The Financial Conduct Authority <span class=\"AOPEN_51\">warned<\/span> of risks in crypto derivatives. The region also <span class=\"AOPEN_52\">considered<\/span> regulating crypto and stablecoins like traditional financial services. A ban on retail crypto derivatives took effect on 6 January.<\/div>\n<div class=\"country_blk\" data-blk=\"6\">The <strong>European Central Bank<\/strong> head Christine Lagarde <span class=\"AOPEN_54\">called<\/span> Bitcoin a speculative asset requiring regulation.<\/div>\n<div class=\"country_blk\" data-blk=\"7\">Dubai\u2019s <strong>Financial Services Authority<\/strong> will <span class=\"AOPEN_55\">start working on<\/span> a regulatory framework for digital assets in 2021-2022.<\/div>\n<\/div>\n<div class=\"review_single_blk has_map review_2_map m\">\n<h2>Other Notable January Events<\/h2>\n<div class=\"review_single_blk has_region\">\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-81141\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Frame.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum hit new highs\" width=\"106\" height=\"80\" \/><\/p>\n<ul>\n<li>President Biden <span class=\"AOPEN_34\">froze<\/span> a number of initiatives from former US President Donald Trump. One was FinCEN\u2019s proposal on verifications for non-custodial wallets. The regulator <span class=\"AOPEN_35\">extended<\/span> the discussion period by 60 days.<\/li>\n<li>The OCC <span class=\"AOPEN_36\">allowed<\/span> US banks to use public blockchains and stablecoins for settlements.<\/li>\n<\/ul>\n<\/div>\n<div class=\"review_half\">\n<div class=\"review_single_blk has_region\">\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-81142\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Frame-1.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum hit new highs\" width=\"105\" height=\"\" \/><\/p>\n<ul>\n<li>In the UK, a petition to ban cryptocurrency transactions was <span class=\"AOPEN_39\">registered<\/span>.<\/li>\n<li>The UK financial watchdog <span class=\"AOPEN_40\">warned<\/span> about risks in crypto derivatives. Regulators there are also <span class=\"AOPEN_41\">considering<\/span> regulating crypto assets and stablecoins akin to traditional financial services. A ban on retail crypto derivatives <span class=\"AOPEN_42\">took effect<\/span> in January.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<h2>Regulation<\/h2>\n<div class=\"review_single_blk\">\n<h2>Key Appointments After US Elections<\/h2>\n<ul>\n<li>US President Joe Biden <span class=\"AOPEN_28\">nominated<\/span> Gary Gensler to head the US Securities and Exchange Commission. Gensler is a former CFTC chair and Goldman Sachs veteran, known for a crypto-friendly stance.<\/li>\n<li>Janet Yellen was <span class=\"AOPEN_29\">appointed<\/span> to the post of Treasury Secretary. She previously described Bitcoin as a speculative asset used to finance terrorism, and <span class=\"AOPEN_30\">promised to monitor<\/span> the industry after her appointment. Later she called for a <span class=\"AOPEN_31\">balanced<\/span> approach to fintech regulation.<\/li>\n<li>From OCC, head Brian Brooks <span class=\"AOPEN_32\">left<\/span>. Media suggested Biden <span class=\"AOPEN_33\">might appoint<\/span> former Ripple advisor Michael Barr as head of the agency.<\/li>\n<li>Under Biden, the head of the US CFTC was also replaced. Rostin Behnam was named acting chair, previously urging a neutral stance on financial technology including blockchain and crypto assets.<\/li>\n<\/ul>\n<\/div>\n<div class=\"review_single_blk has_map review_2_map\">\n<h2>Other Regulatory Developments<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Group-2644-6.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum hit new highs\" width=\"2350\" height=\"1182\" \/><\/p>\n<div class=\"country_blk\" data-blk=\"1\">\n<p>Joe Biden <span class=\"AOPEN_34\">froze<\/span> a number of initiatives from former US President Donald Trump. One was the FinCEN proposal to verify users of non-custodial wallets. The regulator <span class=\"AOPEN_35\">extended<\/span> the discussion period by 60 days.<\/p>\n<p>The OCC <span class=\"AOPEN_36\">allowed<\/span> national banks and federal savings associations to use public blockchains and stablecoins for settlements.<\/p>\n<\/div>\n<div class=\"country_blk\" data-blk=\"2\"><strong>Philippines<\/strong> <span class=\"AOPEN_37\">introduced<\/span> mandatory licensing for crypto service providers.<\/div>\n<div class=\"country_blk\" data-blk=\"3\">In <strong>South Africa<\/strong> regulators again plan to <span class=\"AOPEN_38\">develop<\/span> a regulatory framework for crypto amid rising Ponzi activity.<\/div>\n<div class=\"country_blk\" data-blk=\"4\">Bitstamp tightened KYC for Netherlands-based users; changes require adding a withdrawal address to the white list and wallet ownership verification via photo.<\/div>\n<div class=\"country_blk\" data-blk=\"5\">A UK resident <span class=\"AOPEN_39\">registered<\/span> a petition to ban crypto transactions. The Financial Conduct Authority <span class=\"AOPEN_40\">warned<\/span> of risks in crypto derivatives. The region also <span class=\"AOPEN_41\">considered<\/span> regulation of crypto assets and stablecoins akin to traditional financial services; on 6 January a ban on retail crypto derivatives took effect.<\/div>\n<div class=\"country_blk\" data-blk=\"6\">Head of the <strong>European Central Bank<\/strong> Christine Lagarde <span class=\"AOPEN_43\">called<\/span> Bitcoin a speculative asset requiring regulation.<\/div>\n<div class=\"country_blk\" data-blk=\"7\">The Dubai <strong>Financial Services Authority<\/strong> will <span class=\"AOPEN_44\">start work on creating<\/span> a regulatory framework for digital assets in 2021-2022.<\/div>\n<\/div>\n<div class=\"review_single_blk has_map review_2_map m\">\n<h2>Other Notable January Events<\/h2>\n<div class=\"review_single_blk has_region\">\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-81141\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Frame.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum hit new highs\" width=\"106\" height=\"80\" \/><\/p>\n<div class=\"country_blk\" data-blk=\"1\">\n<p>Robinhood faced a scandal over Reddit\u2019s battle with Wall Street. A group of Reddit traders pursued GameStop (GME) stock in response to the hedge fund Melvin Capital\u2019s large short position. In January, GME rose from $17 to $483, and losses to Wall Street bears exceeded $19 billion. The move evolved into a broader fight against large players.<\/p>\n<p>Robinhood <span class=\"AOPEN_56\">stopped<\/span> trading GME, AMC and Dogecoin, which was also <span class=\"AOPEN_57\">pumped<\/span> up. Later, Robinhood co-founder explained the halt as technical difficulties amid a surge of users. Binance founder Changpeng Zhao said his platform faced rapid inflows and had trouble generating Dogecoin addresses.<\/p>\n<p>Nevertheless, users filed a class action accusing the service of \u201cdeliberate and conscious\u201d denial of access to investment for private traders. In Congress, lawmakers plan to investigate potential collusion between Robinhood and hedge funds. Hearings with the platform\u2019s co-founder are scheduled for 18 February.<\/p>\n<\/div>\n<\/div>\n<div class=\"review_half\">\n<div class=\"review_single_blk has_region\">\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-124041\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/DOGE.jpg\" alt=\"January 2021 in numbers: Bitcoin and Ethereum hit new highs\" width=\"640\" height=\"853\" \/><\/p>\n<ul>\n<li>The WSB movement proved a source of inspiration for crypto enthusiasts. Beginning r\/Bitcoin, it saw a surge in DOGE interest as the price aimed at a $1 milestone; DOGE jumped by 1,000% in 24 hours, to a new high of $0.0875, entering the top-10 by market cap and briefly displacing Cardano from sixth place.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"review_half\">\n<div class=\"review_single_blk has_region\">\n<p><strong>Elon Musk\u2019s Bitcoin stance<\/strong><\/p>\n<p>SpaceX and Tesla chief Elon Musk did not limit himself to Dogecoin. On 29 January, a Bitcoin hashtag in his Twitter profile bio <span class=\"AOPEN_62\">triggered a rally<\/span> from about $32,000 to $38,000. A later comment, \u201cLooking back, this was inevitable,\u201d linked to the increases in listed assets and was <span class=\"AOPEN_63\">recorded<\/span> in several Bitcoin transactions.<\/p>\n<p>In a Clubhouse podcast a few days later, Musk <span class=\"AOPEN_64\">admitted<\/span> he is a Bitcoin supporter and said he would approach posts with caution given their market impact.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-124045\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Musk-1.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum hit new highs\" width=\"2227\" height=\"652\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Musk-1.png 2227w, https:\/\/u1f987.com\/wp-content\/uploads\/Musk-1-300x88.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Musk-1-1024x300.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Musk-1-768x225.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Musk-1-1536x450.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Musk-1-2048x600.png 2048w\" sizes=\"auto, (max-width: 2227px) 100vw, 2227px\" \/><\/p>\n<p>However, Musk noted that he did not invest in Bitcoin and, despite longstanding urging from his circle, \u201cwas late to the party.\u201d<\/p>\n<\/div>\n<div class=\"review_single_blk\">\n<h3>WSB hype attracted new crypto users<\/h3>\n<p>At the start of January, 775,000 people subscribed to the Reddit subforum r\/WallStreetBets; by the end of the month, subscribers rose to 8 million. The movement reflected in crypto communities across Reddit. The r\/Bitcoin community grew by about 200,000 in the last week of January, reaching 2.2 million.<\/p>\n<div id=\"attachment_124048\" style=\"width: 961px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-124048\" class=\"size-full wp-image-124048\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/rBitcoin.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum hit new highs\" width=\"951\" height=\"215\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/rBitcoin.png 951w, https:\/\/u1f987.com\/wp-content\/uploads\/rBitcoin-300x68.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/rBitcoin-768x174.png 768w\" sizes=\"auto, (max-width: 951px) 100vw, 951px\" \/><\/p>\n<p id=\"caption-attachment-124048\" class=\"wp-caption-text\">Subscriber growth for the r\/Bitcoin subreddit on Reddit. Data: FrontPageMetrics.<\/p>\n<\/div>\n<p>A similar influx of users was observed in threads dedicated to Ethereum, Dogecoin and cryptocurrencies in general.<\/p>\n<div id=\"attachment_124049\" style=\"width: 983px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-124049\" class=\"size-full wp-image-124049\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/rSatoshiStreetBets.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum hit new highs\" width=\"973\" height=\"274\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/rSatoshiStreetBets.png 973w, https:\/\/u1f987.com\/wp-content\/uploads\/rSatoshiStreetBets-300x84.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/rSatoshiStreetBets-768x216.png 768w\" sizes=\"auto, (max-width: 973px) 100vw, 973px\" \/><\/p>\n<p id=\"caption-attachment-124049\" class=\"wp-caption-text\">Subscriber growth for r\/Bitcoin on Reddit. Data: FrontPageMetrics.<\/p>\n<\/div>\n<p>The r\/SatoshiStreetBets subreddit saw a rapid build-up in followers, rising from 15,000 to 250,000 in a week.<\/p>\n<div id=\"attachment_124052\" style=\"width: 1683px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-124052\" class=\"size-full wp-image-124052\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Podpischiki-v-Twitter.png\" alt=\"January 2021 in numbers: Bitcoin and Ethereum hit new highs\" width=\"1673\" height=\"906\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Podpischiki-v-Twitter.png 1673w, https:\/\/u1f987.com\/wp-content\/uploads\/Podpischiki-v-Twitter-300x162.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Podpischiki-v-Twitter-1024x555.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Podpischiki-v-Twitter-768x416.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Podpischiki-v-Twitter-1536x832.png 1536w\" sizes=\"auto, (max-width: 1673px) 100vw, 1673px\" \/><\/p>\n<p id=\"caption-attachment-124052\" class=\"wp-caption-text\">Growth in followers of cryptocurrency exchange accounts on Twitter. Data: socialblade.<\/p>\n<\/div>\n<p>The trend of new followers for leading exchanges on Twitter rose roughly threefold by the end of January, from under 5,000 to about 15,000 per day.<\/p>\n<p><strong>The Reddit WSB episode demonstrated how social-media communities can influence prices across assets, regardless of big-cap resistance. Investors should look to Reddit for potential pumps or negative media framing that can create market-moving narratives \u2014 as with silver.<\/strong><\/p>\n<p><strong>Twitter activity from Elon Musk proved to move more than just the Tesla stock or adoption of Signal\/Clubhouse \u2014 it can move Bitcoin\u2019s price.<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency market cap exceeded $1 trillion, DEX volumes reached $55 billion with Uniswap leading, and Bitcoin miners earned over $1 billion \u2014 a record since 2017.<\/p>\n","protected":false},"author":1,"featured_media":35897,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"3","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[1144],"tags":[1740,1233,1244],"class_list":["post-35896","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-longreads","tag-bitcoin-industry-in-numbers","tag-industry-digests","tag-weekly-summary"],"aioseo_notices":[],"amp_enabled":true,"views":"33","promo_type":"1","layout_type":"3","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35896","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=35896"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35896\/revisions"}],"predecessor-version":[{"id":35898,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35896\/revisions\/35898"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/35897"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=35896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=35896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=35896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}