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Chain Reaction Podcast: Your daily crypto fix in just 10 minutes |
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Short on time? Keep up with crypto's rapid pace in just 10 minutes a day. No need to sift through endless articles—"Chain Reaction" distills the most important updates and insights into quick, digestible episodes. |
Why listen? What's in it for you? |
Relevant updates: Get the latest market trends and impactful events. Fresh perspectives: Gain insights that help you connect the dots. Hear the "why" behind the "what" from our team of seasoned analysts. Efficient format: Stay informed and ready to act with bite-sized episodes that cut through the noise.
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On the radar |
Our latest episode takes a closer look at: |
TRUMP-linked memecoins: Analyzing the TRUMP token's sell-off and market volatility. Bitcoin's price swings: Insights into its movements and the impact of the US debt ceiling. Investor activity: XRP sell-offs, TON's volatility, and a major ENS whale profit. Market highlights: Litecoin's surge, Notcoin's dip, and World Liberty Financial's crypto rise. Broader discussions: A possible pardon for Silk Road founder Ross Ulbricht and its implications.
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How to tune in |
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Start your day smarter—click, listen, and lead the conversation! |
MicroStrategy's latest Bitcoin purchase pushes holdings to 461K BTC |
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Key points: |
MicroStrategy's total Bitcoin holdings are now upto 461K. Latest purchase's average price was $101,191, bringing the overall average BTC purchase price to $61,610.
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News - MicroStrategy, the largest corporate holder of Bitcoin, announced the purchase of another 11,000 Bitcoin on Tuesday, 21 January. This latest purchase cost $1.1 billion, with an average purchase price of $101,191 per BTC. The purchases were made using the proceeds from the issuance and sale of shares under a convertible notes sales agreement. The purchases were made in the week preceding the inauguration of United States President Donald Trump. |
This brought MicroStrategy's total BTC acquired to 461,000, costing them $29.3B at $63,610 per Bitcoin overall. In 2025, MicroStrategy has purchased 14,600 Bitcoin so far. |
Chances of a Bitcoin reserve- President Trump's inauguration bolstered talk of the establishment of a U.S. Bitcoin strategic reserve. Unsurprisingly, Michael Saylor supported the idea. |
In a post on X in December, he opined that such a policy could strengthen the U.S dollar, neutralize national debt, and position America as a leader in the 21st century digital economy. |
According to the prediction market Polymarket, there is now a 37% chance of Trump creating a Bitcoin reserve in his first 100 days. |
U.S-based asset managers file for TRUMP, Dogecoin ETFs |
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Key points: |
U.S-based asset managers are seeking to launch TRUMP, DOGE, BONK, and XRP ETFs. Pro-crypto President's promises could ease previously strict crypto oversight.
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News - According to a regulatory filing on 21 January, asset managers Osprey Funds and REX Shares are seeking to launch exchange-traded funds (ETFs) of Dogecoin [DOGE], Official Trump [TRUMP], and Bonk [BONK]. |
The filing also proposed ETFs for Ethereum [ETH], Solana [SOL], and XRP. |
The REX-Osprey TRUMP ETF would be the first ETF to hold TRUMP, the memecoin launched on 18 January. The token briefly surpassed a $80 billion fully diluted value (FDV). Here, it's worth noting that the FDV multiplies the price by the max supply of the token. |
Pro-crypto Trump and ETF chances- The re-election of Trump means that regulators are now expected to soften their stance on crypto oversight. In 2024, a flurry of crypto ETFs was submitted by asset managers. The approval of Spot Bitcoin and Ethereum ETFs could have been the first of many. |
In fact, there is also an expectation of approval for several crypto index ETFs designed to hold diverse baskets of tokens. As it stands, the market believes there is a higher probability of a Litecoin or an XRP ETF being approved. |
With the SEC getting a friendlier face as well, the likelihood of several of these ETFs being approved is as high as it has ever been. |
President Trump pardons Silk Road mastermind Ross Ulbricht |
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Key points: |
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News - Newly elected U.S President Trump has gone through with his May 2024 promise of releasing Ross Ulbricht, if elected back into power. On his second day back in office, President Trump gave a full pardon to Ulbricht, who has been in prison for the last 12 years. |
Ulbricht was arrested in 2013 and sentenced to life in prison without the possibility of parole in 2015 for his role in the creation and operation of Silk Road. Launched in 2011, Silk Road rose to fame through Tor and Bitcoin. |
It was the first big marketplace to adopt BTC as its primary currency. However, the marketplace allowed the anonymous purchase of drugs and arms, tarnishing the image of crypto in the eyes of the public. This is a perception the crypto-market has struggled to shrug off over the past decade, despite its steady growth and mainstream acceptance. |
Crypto community's position - Some in the crypto community have questioned Ulbricht's role in Silk Road's operation. While Ulbricht didn't deny his involvement, he has contested allegations that he was the sole person in charge of the marketplace. |
The legacy of Silk Road is controversial. And yet, Ulbricht has been hailed as a "Bitcoin legend" due to his contributions to crypto-commerce and privacy tech. |
Bitcoin-friendly billionaire investor Tim Draper supported Ulbricht's release way back in 2019, arguing that the U.S needs entrepreneurs like Ulbricht. |
SEC launches crypto task force to form regulatory framework |
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Key points: |
A day after Gensler's departure, the SEC's position on crypto is changing. Task force headed by 'crypto mom' Hester Peirce will help with regulatory clarity.
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News - The United States' Securities and Exchanges Commission (SEC) has announced the formation of a cryptocurrency task force dedicated to introducing a regulatory framework for cryptocurrencies. |
The task force will be led by Commissioner Hester Peirce, a long-term crypto ally whose position has earned her the moniker "crypto mom". |
The task force will work closely with the crypto industry to develop regulations, while also providing some technical assistance to Congress while crafting these regulations. |
A radical shift in the SEC's approach- Gary Gensler, the former SEC chair, officially stepped down on 20 January. During his tenure, the agency was known for its strict oversight of the sector, a term also marked by a host of lawsuits filed against the likes of Binance, Coinbase, and Ripple Labs. |
The day after he stepped down, however, the federal agency's approach to crypto seems to have turned on its head. |
In fact, the content and tone of the official SEC announcement revealed a willingness to draft a "comprehensive and clear regulatory framework". It read, |
"To date, the SEC has relied primarily on enforcement action to regulate crypto retroactively and reactively". |
According to the same, clarity has been elusive and the result has been confusion about what is legal. This could lead to "an environment hostile to innovation and conducive to fraud", the statement concluded. |
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More stories from the crypto ecosystem |
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Did you know? |
The Whinstone Bitcoin Mining Facility in Rocksdale, Texas, is one of the largest mining operations in the U.S. Owned by Riot Platforms, the facility has more than 100 acres available and also benefits from affordable energy and pro-crypto regulations. As of 2022, it had a hash rate of 7.7 exahashes per second (EH/S). On average, a single Bitcoin transaction is responsible for emitting 300 to 400 kilograms of CO2, equivalent to 50,000 hours of YouTube streaming. Globally, Bitcoin emits an estimated 69 million metric tons of CO2 annually, comparable to the emission of Greece. However, there has been some effort to turn BTC mining towards renewable energy sources. Right now, over 50% of this energy comes from renewables such as hydel, wind, and solar. A hard drive containing 8,000 BTC, worth $716 million currently, was accidentally thrown into a Welsh landfill in Newport nearly 12 years ago. James Howell's story highlighted the risk in self-custody of digital assets. After his appeals to the city council to allow a landfill excavation went unheard, he sued the Newport City Council. However, a judge has since thrown out this lawsuit since there were "no reasonable grounds" for bringing the claim and "no realistic prospect" of recovering the hard drive.
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Top 3 coins of the day |
Worldcoin (WLD) |
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Key points: |
At press time, WLD was trading at $2.19, up 15% since Tuesday's open. Its quick recovery from local lows saw a 29.3% hike in Open Interest.
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What you should know: |
Worldcoin (WLD) maintained its bearish trend on the daily timeframe. Despite the 15% gains in under 48 hours, it has not broken resistances overhead that would signal bullish strength. On the daily chart, the OBV has been on a downtrend in January. It seemed to be heading towards the November lows alongside the token's price. The Fibonacci retracement levels have failed to keep the bears at bay. At press time, the 78.6% level at $2.14 was a resistance zone that needed to be flipped to support. The short-term increase in Open Interest was encouraging, showing bullish conviction among speculators. A 1-day trading session close above $2.295 would flip the market structure bullishly. |
Hyperliquid (HYPE) |
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Key points: |
Hyperliquid has surged beyond two local resistance levels, up 35% from Monday's lows. The next bullish target was $29.25, with $35.17 the more ambitious target for the coming weeks
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What you should know: |
Hyperliquid is a decentralized crypto exchange using its own Layer-1 blockchain to offer fast trades and low fees. The token began trading publicly in early December. After reaching the $35.17 all-time high, it saw a deep retracement to $19. After consolidating around the $20-mark for nearly two weeks, HYPE has reclaimed its bullish trend on the 4-hour timeframe. The price action revealed that bullish expectations were strong. The $24.3 and $26 resistance levels were breached quickly. The RSI's 64 reading underlined strong bullish momentum too. This could see HYPE push further north to $29.26 and beyond. |
ai16z (AI16Z) |
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Key points: |
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What you should know: |
The $1.3B market cap AI agent token ai16z saw 34% gains in the last 24 hours. Its trading volume also witnessed a 34.22% hike. The price and volume boost indicated increased demand. The Chaikin Money Flow indicator agreed with this idea with its reading of +0.1. The local high at $1.1 was breached by AI16Z to further indicate short-term bullishness. The 20 and 50-period moving averages remained bearish, but since the price has broken through both of them, there may be potential for more gains. To the north, the Fibonacci retracement levels at $1.29 and $1.44 would be the next resistances to watch. A price move beyond $1.44 would mean ai16z bulls are ready for a longer-term uptrend. |
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