Daily News

• Avalanche (AVAX) rose to a multi-month high on Tuesday, with prices rallying for a third consecutive session.
• Polygon (MATIC) climbed higher in today’s session, following a collision with a key price floor, reaching its highest level since last week.
• Both tokens have since seen some of their gains fade, with momentum not strong enough to force a breakout.

On Jan. 24, the cryptocurrency market saw a surge in prices as reports of bitcoin on Avalanche’s network rose to 5,493, causing the token to move to a multi-month high. As a result, AVAX/USD moved to an intraday peak of $18.86 earlier today. The move took place following a breakout of a ceiling at the $18.50 mark, while the 14-day relative strength index (RSI) neared a resistance level of its own at 72.00. Despite the initial surge, prices have since faded and AVAX/USD is currently trading at $18.22.

Polygon (MATIC) also moved higher on Tuesday, hitting a one-week high. MATIC/USD raced to a peak of $1.04 earlier in the day, less than a day after hitting a low of $0.9849. This saw polygon reach its highest level since last week Monday, when price was last close to a resistance of $1.05. Despite the initial surge, prices have since plunged and MATIC/USD is now trading at $1.00, which is also its long-term support point. The RSI seems to be a fair distance away from its own floor at 61.00, and is currently tracking at 63.27, with a ceiling of 71.00.

Overall, the market saw some bullish news across the board, however, momentum was not strong enough to push prices to new highs. Both AVAX and MATIC have seen some of their early gains fade, indicating that further price increases are likely to be gradual. Investors should keep an eye out for any further news that could provide more clarity on the short-term direction of these tokens.

• On Jan. 15, 2021, onchain researchers discovered that 41,000 ethereum, worth $63.2 million at current exchange rates, had been stolen during the Harmony bridge attack.
• Onchain researcher Zachxbt tracked the stolen funds and alerted major exchanges, who were able to freeze the funds before they could be laundered.
• Binance CEO Changpeng Zhao confirmed that 124 BTC had been recovered as a result of the onchain researcher’s efforts.

On January 15, 2021, a team of onchain researchers uncovered a major crime that had been committed 206 days prior. The attack, which targeted the Harmony bridge, resulted in the theft of 41,000 ethereum, worth $63.2 million at current exchange rates. The suspected perpetrators are believed to be linked to the North Korean hacking syndicate known as the Lazarus Group.

Led by onchain researcher Zachxbt, the onchain researchers were able to trace the stolen funds to three major cryptocurrency exchanges: OKEx, Huobi and Binance. Fortunately, Zachxbt’s timely warning allowed the exchanges to freeze the funds before the attackers were able to launder them. Binance CEO Changpeng Zhao, commonly known as „CZ,“ confirmed that the funds had been successfully frozen, adding that the exchanges had recovered 124 BTC in the process.

In addition to freezing the stolen funds, Zachxbt and the onchain researchers worked with the exchanges to ensure that the funds were kept out of the hands of the attackers. The onchain researchers‘ efforts have proven invaluable in helping to prevent further financial losses in the cryptocurrency space.

The attack on the Harmony bridge serves as a stark reminder of the importance of security in the cryptocurrency space. The onchain researchers‘ commitment to uncovering and preventing financial crimes is a testament to their dedication to keeping the cryptocurrency space safe. As the industry continues to grow, the onchain researchers‘ efforts to protect investors and exchanges from financial crimes will remain integral to the long-term success of the industry.

• Gold prices are expected to soar in 2023 with experts predicting record highs for the precious metal.
• The demand for gold has been increasing due to central bank purchases and ongoing geopolitical tensions.
• According to MKS Pamp Group, there is a “decent amount of bullish ‚pent-up‘ demand that has been carried over from last year” for gold.

This year, gold prices are expected to soar to record highs and experts are predicting a bright outlook for the precious metal. In the first week of the new year alone, gold has jumped 2.36% against the U.S. dollar and over the past 65 days, gold has soared 14.55% while silver has skyrocketed 22.31% against the greenback since Nov. 3, 2022.

The increasing demand for gold is attributed to central bank purchases and ongoing geopolitical tensions. According to the head of metals strategy at MKS Pamp Group, there is a “decent amount of bullish ‚pent-up‘ demand that has been carried over from last year” for gold. Central banks around the world, particularly in China, Turkey, and India, have been buying gold at a record pace in the past 13 consecutive years.

Gold Mining Bull, a publication from Seeking Alpha, is paying particularly close attention to central bank gold purchases this year. In its two-part series “Gold Mining Bull”, the author argues that gold will perform better in 2023 due to central bank demand and “ongoing geopolitical tensions”. The analyst adds that central banks have been increasing their gold reserves in recent years as a way to diversify their portfolios.

Overall, gold is on the rise and experts are predicting a bright future for gold in 2023. With precious metals on the rise, ‚gold bugs‘ believe the yellow metal is „set to shine“ in the coming year and the increasing demand for gold is attributed to central bank purchases and ongoing geopolitical tensions. With gold prices expected to soar, investors may be wise to consider investing in gold and silver to diversify their portfolios.

• The Mexican government announced in 2021 that the digital peso, the country’s central bank digital currency (CBDC), would be launched circa 2024, however this timeline is becoming more and more unlikely to be fulfilled.
• Representatives from Banxico, the central bank of Mexico, have stated the development of the currency is still in its initial stages and there is still no date set for its launch.
• More than $500,000 was used for the development of the digital peso during 2022, allocated from funds provided by Banxico.

The Mexican government announced in 2021 that the digital peso, the country’s central bank digital currency (CBDC), would be launched circa 2024. However, this timeline is becoming more and more unlikely according to representatives from Banxico, the central bank of Mexico. The development of the currency is still in its initial stages and there is still no date set for its launch.

Banxico released a statement in regards to the matter, stating the result of this initial phase entails the preparation of a budget that is currently being determined, and will in turn allow establishing a probable date on which said CBDC will be available. The Governor of Banxico, Victoria Rodríguez Ceja, also stated in April that the whole development cycle would take the institution around three years.

In addition to the lack of a concrete launch date for the digital peso, more than $500,000 was used for the development of this currency during 2022, allocated from funds provided by Banxico. Despite this, it is still unclear if the Mexican CBDC will be ready by 2024, as was originally announced.

The digital peso is an important development in the world of digital currency, as it will be the first central bank digital currency in Latin America. It is anticipated that it will help the country in its efforts to modernize its financial system and reduce the cost of financial services, such as remittances and overseas payments.

Whether or not the digital peso will be ready by 2024 remains to be seen, but it is clear that the Mexican central bank is making progress in its efforts to create the currency. The digital peso has the potential to revolutionize the country’s financial system and it will be interesting to observe its progress over the coming years.