Web 3 News: Staying up-to-date is crucial

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10 Jan 2024

Every day brings a new opportunity to discover the latest advancements in Web3 technology, and there’s no better way to stay informed than by subscribing to our newsletter that’s chock-full of updated news and information. We can help you stay on top of the game by delivering the latest trends, insights, and updates!
So, if you’re looking to stay up-to-date on everything related to Web3, be sure to subscribe to a newsletter that covers it all! Below are some of the significant news that have taken place this week.

Double Top Forecast

Filbfilb predicts a double top above $200k in 2025 for Bitcoin based on halving cycles. Historical patterns suggest peak prices 368–550 days after the next block subsidy halving in March 2024. Using this data and price regression, future cycle prices are projected. Bitcoin is expected to hit two double tops above $200k in 2025. However, the next cycle may have a slightly lower high of $180k. Despite decreasing volatility and blow-off top trajectory, Bitcoin’s bullish momentum is expected to be supported by global trends towards digital stores of value

Swiss Bank Embraces Crypto

Swiss government-owned bank, PostFinance, will offer cryptocurrency trading and storage services, boosting mainstream adoption of digital assets. With government support, this move could increase accessibility and trust in cryptocurrencies for Swiss citizens, showcasing the integration of traditional finance with digital assets.

MetaMask iOS Enhancements

MetaMask’s iOS app has new features, including support for Consensys zkEVM network (Linea), enhanced accessibility for on-ramps, and a vault corruption recovery flow, improving user experience and security. These updates demonstrate MetaMask’s commitment to meeting the evolving needs of the cryptocurrency community, positioning itself as a top crypto wallet.

Options Expiry Uncertainty

This week, $1.12 billion worth of Bitcoin options expire, putting bulls at a disadvantage. The recent rally can be attributed to rising commodity demand and risks in central bank funding programs, leading to upward pressure on inflation. However, bullish bets on $30,000 or higher may have missed their chance, and the outcome of the weekly expiration remains uncertain due to recession risks and market volatility. If bulls earn $100 million profit, it could strengthen support.

Dogecoin Dips 9%

Dogecoin dropped by 9% on Thursday, as market sentiment shifted bearish after earlier gains. Traders secured profits, causing the relative strength index (RSI) to fall below 60.00, increasing the chance of further declines. Litecoin also experienced losses, hovering around $90.00.

MAS to Guide Banks on Crypto

Singapore’s central bank, the Monetary Authority of Singapore (MAS), plans to issue new guidance to banks on conducting due diligence with cryptocurrency clients. This is in response to concerns about the possible misuse of cryptocurrencies for illegal activities. The MAS hopes to promote innovation in the financial sector while enabling banks to better manage cryptocurrency risks.
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