It is no secret that the global economy has continued to weaken over the course of the past year. To this point, on Jan. 19, the United States government hit its “debt ceiling,” i.e. the total sum of money that the U.S. Treasury can borrow to fund its ongoing federal operations, leading to renewed concerns that more financial pain and the economic slowdown could be incoming. Similarly, on the other side of the Atlantic, the United Kingdom has been struggling as well. This is made evident by the fact the number of company insolvencies registered in 2022 hit 22,109 — a 57% spike from the year prior and its highest rate since 2009. Not only that, the International Monetary Fund recently released a report suggesting that the United Kingdom would be the only G-7 nation to face a recession this year. (Cointelegraph)

Bitcoin and Ethereum were built for different purposes but collectively influence the whole crypto space. Their influence is evidenced in the market size, dominance ratios, and the number of spin-off projects.

The file format of bitcoin can’t be protected by copyright, a U.K. judge has found, ruling against self-proclaimed inventor of the cryptocurrency Craig Wright.

The broader crypto market losses earlier gains as U.S. Federal Reserve Bank of New York President John Williams agreed that Fed officials forecast rates in a range between 5 and 5.25% for the year 2023 is still reasonable.

Whale activity in terms of transactions now accounts for 50% of the Bitcoin network.. Whale activity is defined by a transfer volume of $1M or more. During the FTX collapse, whale activity decreased to as low as 39%. During the FTX collapse, whale addresses increased drastically, with a 30-day change count of over 20 addresses.

Statistics show transfer fees on the Bitcoin network have increased 122% since the end of last month, as the average transaction fee has climbed from $0.767 to $1.704 per transaction. The rise in onchain fees coincides with the new Ordinals digital collectible trend on the network, with the number of inscriptions nearing 20,000.

The recent fervor surrounding Ordinals NFTs on Bitcoin is already attracting developers interested in building an ecosystem for the meme-themed art – now including Twetch, the team behind a “pay-to-earn” social network built on the rival Bitcoin SV blockchain (BSV).

Institutional investors are prioritizing Bitcoin over Ethereum in 2023. The report was published by the digital asset analysis firm Arcane Research. According to the research firm, the open interest of Bitcoin futures climbed 6% in Chicago Mercantile Exchange (CME), while Ethereum’s future has declined by more than 25% in the last month.

Argo Blockchain mined 168 Bitcoin (BTC) during January — collecting roughly $3.42 million in mining revenue, according to the company’s January Operational Update.

We often misunderstand new technologies because they don’t neatly fit into to our worldview yet.