FameEX Morning Crypto News Recap | January 10, 2025
2025-01-10 09:50:202024 Forecast: 56,325 New Bitcoin Millionaire Wallets Expected
ChainCatcher projects that 56,325 new Bitcoin millionaire wallets will be added by the end of 2024. On average, 154 Bitcoin addresses holding over $1 million are created daily, reflecting an annual growth rate of 58.21%.
U.S. DOJ Approves Sale of $6.5 Billion in Bitcoin Tied to Silk Road Case
On January 9, the U.S. Department of Justice received approval to sell 69,370 BTC, valued at $6.5 billion, seized from the Silk Road case. The DOJ requested the sale due to Bitcoin price volatility. A spokesperson confirmed that further actions will depend on the case's ruling.
Opinion: Bitcoin's Fate Rests on Trump's Crypto Commitments
Reuters reported that the cryptocurrency industry is urging President Trump to issue an executive order within his first 100 days. The proposed order would establish a U.S. Bitcoin reserve, secure banking services for the industry, and create a cryptocurrency advisory committee, according to unnamed sources.
Analysts Predict Strong Crypto Market Rebound in February
On January 9, crypto analyst Miles Deutscher forecasted a major market improvement by February. He attributed the potential boost to President Trump’s policies and noted that the market has already absorbed the effects of the Department of Justice's Bitcoin sell-off, setting the stage for recovery.
Cryptocurrency Exchanges See Spike in Users After South Korea Declares State of Emergency
Following the declaration of a state of emergency by South Korean President Yoon Seok-yeol on December 3, 2024, there was a significant surge in cryptocurrency exchange users. A survey by the Financial Supervisory Service revealed that simultaneous online users at major exchanges spiked to between 500,000 and 1.1 million, 11 times higher than usual.
Taiwan Set to Submit Draft Virtual Assets Law by June 30
Taiwan’s financial regulator chairman, Peng Jinlong, expressed a cautiously positive view on the virtual asset market. The draft special law on virtual assets is complete and will soon enter public hearings. It is expected to be submitted to Taiwan’s executive agency by June 30 this year.
Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.