Overview • $370 billion in Bitcoin has been dormant over the past six months. • 2022 was a bearish period for bitcoin and its crypto cousins, who lost more than 70% of their value. • 2023 has seen a bullish trend for the currency, with it recently hitting the $25K mark. Bitcoin Dormancy It appears many of the world’s bitcoin units have „gone to sleep“ over the past six months. As much as $370 billion in bitcoin has remained perfectly still, and this is to be expected following a long and bearish period like what we saw in 2022. That year was arguably the worst on record for bitcoin and…

• According to a new report issued by blockchain analysis firm Chainalysis, nearly 25 percent of digital tokens introduced in 2022 were scams. • These scams are known as pump-and-dump schemes, which involve developers or executives talking up a token and getting investors interested before running off with the money. • Chainalysis says that these schemes have hindered the reputation of the crypto industry and could make it difficult for mass adoption to occur. Chainalysis: Most New Tokens in 2022 Were Fake A new report issued by blockchain analysis firm Chainalysis revealed that nearly 25 percent of digital tokens introduced in 2022 were fraudulent scams designed to take investor funds.…

•The International Monetary Fund (IMF) has expressed concern over El Salvador’s decision to make Bitcoin legal tender, citing potential risks and a largely speculative nature. •El Salvador declared Bitcoin legal tender in September 2021 and businesses were required to accept the digital asset for transactions alongside USD. •The IMF is predicting that tokenized bonds based on Bitcoin and similar products could be released in the coming months, as well as monitoring El Salvador’s use of crypto closely. IMF Concerned Over El Salvador’s Adoption of BTC The International Monetary Fund (IMF) has stated that the risks surrounding bitcoin use in El Salvador have not necessarily shown themselves yet. However, the agency…

• Riot Blockchain had its best month in January, extracting 740 BTC units from the blockchain. • Crypto mining is becoming increasingly difficult due to inflation and bearish sentiment in the space. • Despite facing damage from storms and harsh weather, Riot was able to set a new record and remains optimistic. Riot Blockchain Sees Its Best Month Yet Riot Blockchain – one of the world’s leading crypto mining facilities – reported that January was its most productive month yet, with 740 BTC units extracted from the blockchain. This good news comes at a time when many miners are struggling due to rising energy costs and bearish sentiment in the…