ProBit Global Weekly Highlights:
ProBit Global is buzzing with exciting developments this week! Here’s a look at the latest updates and events:
Latest Listings
- OFFICIAL TRUMP (TRUMP) & Melania Meme (MELANIA): ProBit Global has listed The OFFICIAL TRUMP (TRUMP) token and Melania Meme (MELANIA) on January 20, 2025.
New Events & Promotions
- Staking Events: SphereX (HERE)
- Airdrops: Phnix (PHNIX) and RollingDoge (ROLL)
- Trading Competitions: Violet (VIOLET), ImgnAI (IMGNAI), Phnix (PHNIX)
Recent Events
- ProBit Global X Space Triple AMA: The AMA session held on January 22, 2025, at 07:00 UTC provided valuable insights from the teams. Thanks to everyone who participated and asked questions! Listen to the recording here!
ProBit Global continues to bring fresh opportunities and exciting events to its users. Stay ahead and make sure you’re part of the action.
Ethereum Foundation Commits $165M to Boost DeFi Innovation
The Ethereum Foundation has pledged 50,000 Ether (around $165 million) to strengthen Ethereum’s decentralized finance (DeFi) ecosystem. This move addresses criticism that the foundation hasn’t been proactive in supporting DeFi innovation. Ethereum co-founder Vitalik Buterin emphasized transparency and collaboration with developers, marking a shift in strategy. The funds will be secured in a multi-signature wallet, already tested on Aave, though setup may take a few days. With DeFi growth potentially boosting its treasury, this allocation represents 18.5% of the foundation’s holdings. Buterin reaffirmed the foundation’s commitment to creating long-term value, focusing on development over profit.
Bitcoin Hits $109.6K, but Traders Stay Cautious – What’s Holding Them Back?
Bitcoin surged to a record $109,588 on Jan. 20, fueled by hopes for crypto-friendly policies under President Trump’s administration. Promises of regulatory clarity and pro-crypto appointments sparked optimism, but traders remain cautious.
Futures data shows a moderate rise in market confidence, with premiums climbing to 14%, slightly above neutral levels. However, this is far from the 30% seen during past bullish runs. Options markets reflect similar hesitation, with a delta skew of -6% signaling restrained optimism.
While Bitcoin’s rally excites many, professional traders are waiting for stronger signals before committing to further risk.
Gary Gensler Steps Down and Mark Uyeda Steps In as SEC Chair, Ushering in a New Era for Crypto Regulation
Gary Gensler has stepped down as SEC Chair, with Commissioner Mark Uyeda taking over as acting chair. Uyeda, known for his crypto-friendly stance, has consistently advocated for reducing regulatory pressure on digital assets.
He has criticized strict measures like the Staff Accounting Bulletin 121, which hindered banks from servicing crypto clients, and may now work to reverse such policies.
Uyeda’s leadership brings new hope for balanced crypto regulation as the SEC awaits the confirmation of Paul Atkins as the permanent chair. This transition signals potential relief for the crypto industry amid shifting regulatory priorities.
MicroStrategy Continues Bitcoin Buying Streak, Hinting at Another Purchase
MicroStrategy’s Bitcoin holdings are now valued at around $47.3 billion, with the company seeing a 69% gain on its investment. Co-founder Michael Saylor hinted at another Bitcoin purchase for the 11th week in a row on January 19, sharing a BTC chart signaling the upcoming buy.
On January 13, the company added 2,530 BTC, bringing its total holdings to 450,000 BTC. MicroStrategy is continuing its strategy of acquiring Bitcoin through a massive equity and debt plan, solidifying its position as the largest corporate BTC holder. Saylor also believes nations could benefit from adopting Bitcoin as part of their economic strategies.
The Rise and Fall of TRUMP and MELANIA Memecoins: A Cautionary Tale
The TRUMP and MELANIA memecoins, initially surging to a combined market cap of over $17 billion, have quickly plummeted by 56% to $10.9 billion. This sharp decline follows a shift in capital from established memecoins like DOGE, SHIB, and PEPE into the new tokens. Investors, lured by quick profits, are now facing losses as the speculative nature of these coins becomes clear. Memecoins, with no real utility, often rise on hype but fall just as quickly when the next trendy coin appears. Experts warn of potential scams, while some investors already find themselves in the red.
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