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• Polygon MATIC saw a 16% surge in the past week, reaching a 48% increase since late December last year.
• The token is currently valued at $1.09 and has a $1.19 billion trading volume with a $9.4 billion market cap.
• Partnerships and launches such as the AMA with Ovix Protocol, Giddy DeFi teaming up with GainsNetwork, and the $GNS staking pool have all contributed to the increase in daily active users.

The past week has been a booming one for Polygon MATIC, as the token surged 16% in the past week, reaching a 48% increase since late December last year. At the time of writing, the token is currently valued at $1.09, with a $1.19 billion trading volume and a $9.4 billion market cap. This impressive increase in value can be attributed to a number of factors, including partnerships and launches such as the AMA with Ovix Protocol, Giddy DeFi teaming up with GainsNetwork, and the $GNS staking pool.

The AMA with Ovix Protocol, which explored the biggest DeFi narratives for 2023, such as zkEVM, LSD, and Supernets, was a major contributor to Polygon’s success. This AMA was designed to bring together like-minded individuals to discuss the future of DeFi, and it was well-received by the crypto community.

The Giddy DeFi teaming up with GainsNetwork and the creation of the $GNS staking pool have also helped to increase the daily active users of Polygon MATIC. This new staking pool allows users to earn rewards for staking their tokens, which has been a major draw for new users to the platform.

However, it wasn’t all good news for Polygon MATIC this past week. A Polygon crypto whale sold tokens worth $7.7 billion on the 8th of January, leaving tokens worth $23.7 million in the address. Despite this, the token still saw a 16% surge in the past week, which is an impressive feat considering the current bear market.

All in all, the past week has been a positive one for Polygon MATIC, with the token surging 16% and reaching a 48% increase since late December last year. This success can be attributed to partnerships, launches, and the creation of the $GNS staking pool, which have all helped to bring in new users and increase the daily active users of the platform. While the sale of tokens worth $7.7 billion by a Polygon crypto whale was a potential setback, the token still saw impressive growth and remains in a strong position going forward.

• The ENS DAO has proposed liquidating 10,000 ETH to fund running expenses over the next two years.
• The DAO currently has a balance of 40,746 ETH and 2.46 million USDC.
• Ethereum staking has been increasing in popularity despite the sell reports.

The Ethereum Name Service (ENS) DAO has recently proposed a governance proposal to liquidate 10,000 of its ether (ETH) to fund running expenses over the next two years. This development comes at a time when the price of Ether has decreased by 68.6%, dropping from $4,850 to $1,526 since the debut of the ENS in November 2021.

The ENS is a decentralized framework for registering domain names and in 2022, it managed to record more than 2.8 million domain registrations. The ENS community is now in the midst of a discussion about the draft proposal that was handed in on the 18th of January. The treasury of the DAO currently has a balance of 40,746 ETH and 2.46 million USDC, and by utilizing a Gnosis auction, the sale of 10,000 ETH would result in the creation of a minimum of $13 million worth of USDC stablecoins.

Despite this, the value of the ENS token has seen a significant increase since the beginning of the year, going from $10.73 to $13.68. This has got many in the community speculating that the proposal may be beneficial to the ENS platform.

However, there is an increasing amount of users who are opting to stake their ETH to receive rewards and this has been picking up steam over the last few months. This has brought on various assumptions surrounding ETH’s staking, which has led to some speculating that the proposal may not be best for the ENS.

At the moment, it remains unclear what the outcome of the proposal will be. It could offer a much needed financial boost to the ENS, or it could have a detrimental effect on the value of Ether and the ENS token. The community is currently in the process of debating the proposal and it is likely that a final decision will be made in the near future.

1. Bitcoin’s circulating supply in profit has increased to 60.5% following its rally above the $18,000 mark.
2. Data from Glassnode indicates that most BTC tokens were procured between the $16.5k and $18.2k price points.
3. Industry experts are debating whether this is a bear market rally or the end of the bear market.

The cryptocurrency market has been on an absolute tear the past few days, with the price of Bitcoin (BTC) shooting up past the $18,000 mark, reaching a new all-time high and pushing its circulating supply in profit to an impressive 60.5%. This is a 13% increase from the previous levels, with data from Glassnode indicating that the majority of BTC tokens were procured between the $16.5k and $18.2k price points.

The recent surge in Bitcoin’s price has caused quite a stir in the industry, with experts debating whether we are witnessing a bear market rally or the start of a new bull run. The Coinbase Premium, which is an indicator of buying pressure, is currently showing high levels of buying activity, which could be a sign that the market is finally beginning to turn around.

On the technical side, Bitcoin has managed to print a winning candle for the fourth consecutive day, indicating that the asset is in a good position to close the day with its winning streak intact. However, the asset did face rejection at the $18,300 point, which could be a sign that the bears are still lurking in the shadows.

The next few days will be crucial for the cryptocurrency market, as the market continues to be driven by speculation. If Bitcoin is able to break through the $18,300 mark and continue its upward trajectory, then it could be the start of a new bull run. On the other hand, if the asset fails to break through this level, then it could signal a bear market rally, and possibly a return to lower levels.

Regardless of what happens next, one thing is for sure: the cryptocurrency market is in a state of flux, and only time will tell whether this is a bear market rally or the start of a new bull run.

• Y-Combinator (YC), a US venture capital fund, is expecting even more economic turmoil in 2023.
• YC advises project leaders to revert to “survival” mode as fundraising could be challenging in the next few months.
• YC suggests that the best move forward is to plan for the worst and to cut costs, anticipating that the upcoming economic downturn could be worse than the last two of 2022 and the Great Financial Crisis (GFC) of 2008.

The US venture capital fund Y-Combinator (YC) is expecting even more economic turmoil in 2023. This news comes as the global financial markets have been in tatters since early last year. Governments including the United States initiated quantitative easing programs and slashed fund rates to record lows in an effort to stimulate the economy during the COVID pandemic of 2020, resulting in a surge of the stock and crypto markets.

In response to a deluge of requests from teams seeking advice on how they should proceed on spending, hiring, and more, YC has issued a warning to its portfolio companies. They advise that the best move forward is to plan for the worst and to cut costs, anticipating that the upcoming economic downturn could be worse than the last two of 2022 and the Great Financial Crisis (GFC) of 2008. “No one can predict how bad the economy will get, but things don’t look good”, YC warned.

The group also noted that the liquidity providers are expecting more discipline, and that fundraising could be challenging in the coming months. This news is particularly concerning for startups who rely heavily on venture capital investments to fuel their growth. As a result, YC is suggesting that project leaders revert to “survival” mode.

YC is not alone in its assessment of the current economic climate. The Federal Reserve (FED), Bank of England (BoE), European Central Bank (ECB), and other central banks have been warning of a global economic downturn for months. Inflation is expanding, rising to the highest level in 30 years in the United States last year, and the stock and crypto markets have been struggling to regain the momentum they had in 2020.

It remains to be seen what the future holds for the global economy, but YC’s warning serves as a reminder that startups must be prepared for the worst. Companies should be mindful of their spending, and focus on strategies that will best position them to weather any upcoming economic storm.

• OKX has implemented API key security measures to increase user protection against external threats.
• These measures include auto-expiry of API keys with trade and withdrawal permissions that have been inactive for 14 days, a third-party whitelist, a “Fast Connect” API, and a risk engine to alert users to suspicious transactions.
• Haider Rafique, OKX’s Chief Marketing Officer, said that these measures are the most comprehensive in the crypto sector.

OKX, a Seychelles-based cryptocurrency platform, has announced a suite of security measures designed to provide users with enhanced protection from external threats. In a press statement released on Jan. 4, the company unveiled a variety of features centered on API keys, with the aim of giving users peace of mind when conducting transactions.

The security measures include an auto-expiry system, which automatically terminates API keys with withdrawal and trade permissions that have been inactive for 14 days. This is intended to prevent malicious actors from accessing accounts and carrying out unauthorized transactions. OKX has also implemented a third-party whitelist that links customers’ IP addresses to trusted networks, providing an additional layer of security.

In addition, OKX has introduced a “Fast Connect” API that enables customers to quickly authorize brokers to access, produce, and bind API keys with just one click. This is designed to make the process of binding API keys more secure. Finally, the exchange’s digital architecture will now feature a risk engine, which will track and alert users to suspicious transactions. This will enable OKX to lock down specific accounts and prevent potential losses.

Commenting on the new measures, OKX’s Chief Marketing Officer Haider Rafique said that the security protection features are the most comprehensive in the crypto sector. He went on to express hope that the new measures will “ensure the safety of our users by providing a secure and reliable trading environment.”

• The Israel Securities Authority (ISA) has proposed draft amendments to regulate cryptocurrencies.
• The amendments are intended to protect citizens from the risks associated with crypto trading.
• The proposed laws would put digital assets under the same rules governing stocks, ETFs, and other instruments.

The Israel Securities Authority (ISA) is proposing draft amendments to regulate cryptocurrencies. These proposed laws are intended to protect citizens from the risks associated with crypto trading. The objective is to ensure that the same rules governing securities like stocks, exchange-traded funds (ETFs), and other instruments also apply to digital assets.

The ISA has identified an increasing risk in crypto as a result of market contraction and macroeconomic factors, as evidenced by the halving of crypto prices and the collapse of crypto exchange FTX. The bankruptcies of leading lending platforms such as Voyager Digital, BlockFi, and Celsius Network further impacted investors, with the latter company alone having over $4.2 billion of investors’ funds locked up as of July 2022.

The draft bill seeks to make Israel agile and flexible, enabling the quick drafting and implementation of laws to suit the fast-paced, highly dynamic nature of cryptocurrencies and blockchain. If the proposed amendment is passed, digital assets in Israel will be subject to the same laws and regulations as other securities.

The ISA report includes a range of safeguards for investors, such as the separation of assets to protect against potential losses, transparent fees and trading costs, and regular reporting of trading activity. Furthermore, the regulator is looking to ensure the consumer is better informed about the risks associated with crypto, and that investors have access to the necessary resources to make informed decisions.

The proposed legislation will also introduce a licensing system for crypto exchanges and trading platforms. This will ensure that only legitimate and compliant operators are able to offer services to the public. The ISA is also looking to introduce measures to tackle money laundering and terrorism financing, by requiring exchanges to carry out due diligence on customers and report any suspicious activity.

Overall, it is clear that the ISA is taking steps to ensure that the public is protected from the risks associated with crypto trading. It remains to be seen, however, if the proposed amendment will be passed and if it will be enough to protect investors from the volatility and risks of the crypto market.