This article is brought to you thanks to the kind support of Betpanda.io. Experience the thrill and benefits of Betpanda.io with a 100% deposit bonus up to 1 BTC and a 10% weekly cashback!Crypto Market UpdateTable of ContentsMarket Movements and Crypto DynamicsBitcoin Price Dynamics and ETF LaunchesHong Kong's Stablecoin Regulation and ETF PlansFTX's Bitcoin Shorting Amidst Financial StrugglesMakerDAO's MKR Experiences Market FluctuationsExchange and ETF DevelopmentsDiverse Approaches in Bitcoin ETF MarketSolana DEX Jupiter Outperforms Ethereum's UniswapUS Senators' Stance on CryptocurrencyStellar's Delayed Protocol 20 UpgradePlatform and Project UpdatesUnibot's UNISOL Token Launch in Solana EcosystemMintlayer's Bitcoin Layer 2 Mainnet LaunchOptimism Unlocks OP Tokens in Ethereum L2Orbiter Finance's Ethereum L2 Rollup LaunchMedia and Investment TrendsBinance Labs Clarifies SkyArk Chronicles FundingFriend.Tech's Decline Due to Security IssuesGlobal Crypto Investment Products Face OutflowsManta Pacific's TVL Surge Post-AirdropNFT and Market ConsolidationAmazon's Bitfinex Hack Feature Film AnnouncementOKX's Integration of Various InscriptionsNFT Sales Decline Across Major PlatformsOpenSea's Openness to Acquisition Amid Market Shifts Bitcoin Price Dynamics and ETF LaunchesBitcoin's price was fluctuating around $42,000 before crossing $43,000. U.S. spot Bitcoin ETFs launch amidst whale accumulation of $3 billion, increasing holdings by 76,000 BTC. New Bitcoin addresses surged 48%, indicating growing investor interest. Market volatility could trigger $1 billion in liquidations. Analysts predict a potential rise to $50,000 by Q1 2024. Upcoming FOMC decisions could impact short-term price movements. USDT supply increase correlates with Bitcoin price rises, suggesting a bullish outlook.Hong Kong's Stablecoin Regulation and ETF PlansHong Kong is swiftly moving to regulate stablecoins, drawing attention from global financial powerhouses. The HKMA's upcoming stablecoin regulatory sandbox is a key step in overseeing the $135 billion market. Concurrently, Harvest Fund Management in Hong Kong seeks to launch the city's first spot bitcoin ETF, reflecting the region's growing role as a digital asset hub and market stabilizer.FTX's Bitcoin Shorting Amidst Financial StrugglesIn a bid to settle sizable debts, FTX has reportedly engaged in high-stakes Bitcoin shorting, raising $4.4 billion through asset sales and Bitcoin derivatives trading. However, this strategy is risky; if Bitcoin's value rises, it may deepen FTX's financial challenges. Complicating matters, FTX's bankruptcy estate is linked to substantial outflows from Grayscale's Bitcoin fund. MakerDAO's MKR Experiences Market FluctuationsMakerDAO's MKR faced volatility after a co-founder's wallet sold 2,235 MKR ($4.5M), causing a 3.39% price drop. Trading volume decreased from $84M to $43M, signaling investor caution. Despite this, net inflows suggest accumulation. MKR's market cap is $1.786B, with a current trading price of $1,952.Diverse Approaches in Bitcoin ETF MarketIn the Bitcoin ETF arena, Fidelity's FBTC ETF witnessed a notable $14.8 million daily net inflow. BlackRock's iBIT ETF holds over 52,000 BTC, valued above $2 billion. In contrast, Vanguard remains wary, avoiding Bitcoin ETFs due to their perceived immaturity and lack of inherent value. Meanwhile, YieldMax has proposed a Bitcoin Options Income Strategy ETF (YBIT), focusing on income generation through a synthetic covered call strategy, indirectly exposing investors to Bitcoin ETPs.Solana DEX Jupiter Outperforms Ethereum's UniswapSolana-based DEX Jupiter surpassed Ethereum's Uniswap in 24-hour trading volume, strengthening Solana's DeFi presence. Solana matched Ethereum's trading volume and outperformed in DEX and NFT metrics. The WEN airdrop drove significant attention, signaling growing liquidity and potential for mainstream adoption. Jupiter's upcoming JUP token airdrop is anticipated to further boost Solana's DeFi ecosystem. US Senators' Stance on CryptocurrencyAt least 18 US Senators are pro-crypto, with Republicans Cynthia Lumnis and Ted Burr leading the charge. However, 30 senators oppose crypto, including Elizabeth Warren, who introduced three anti-crypto bills. President Biden and 23 other Democratic senators are against digital assets. Presidential candidates Trump and Kennedy favor crypto. Stellar's Delayed Protocol 20 UpgradeThe Stellar Development Foundation delayed the Protocol 20 upgrade due to a bug in the Stellar Core code related to fee-bump transactions for Soroban smart contracts. The decision aims to mitigate potential impacts on applications and services. Protocol 20 will introduce smart contract functionality through Soroban and coordinate with validators to determine a new upgrade date. Unibot's UNISOL Token Launch in Solana EcosystemUnibot plans to issue UNISOL token in the Solana ecosystem, initially causing concern among UNIBOT holders. However, developers state that UNISOL could boost UNIBOT's value accrual. UNIBOT holders will receive 80% of UNISOL supply. The platform boasts over 20,000 users and $130m in total volume since its January launch, with $74,000 in fees generated on Sunday alone. Unibot's average daily volumes sit around $5.5 million. Mintlayer's Bitcoin Layer 2 Mainnet LaunchMintlayer, a Bitcoin layer 2 sidechain, launched its mainnet, featuring non-Turing complete smart contracts, Atomic Swaps, and a consensus combining PoW and PoS. With an initial supply of 400 million ML tokens and planned deflationary emissions, it aims to strengthen Bitcoin's L2 landscape and enable real-world asset tokenization while prioritizing security. Optimism Unlocks OP Tokens in Ethereum L2Optimism, an Ethereum layer 2 scaling solution, is set to unlock $81 million worth of OP tokens on January 29, 2024. This will release over 24 million tokens, equivalent to 2.5% of the circulating supply. The project has unlocked 885 million tokens so far, and the token's market cap is approximately $2.9 billion. Orbiter Finance's Ethereum L2 Rollup LaunchOrbiter Finance, backed by OKX Ventures, plans to launch Orbiter Rollup, a zero-knowledge proof powered Ethereum Layer 2 network. The protocol's cross-chain bridge serves over 3 million users and aims to facilitate seamless asset and data transfer across all Layer 2 networks. Orbiter Rollup seeks to establish itself as the primary access point for Ethereum Layer 2 networks. "The Orbiter Evolution: From Bridge to Rollup, Reshaping the Ethereum Ecosystem"Orbiter Finance is set to launch another satellite into the Ethereum galaxy! Today, we are thrilled to announce Orbiter Rollup—a pioneering #ZK-powered instant omni meta-layer that brings…— Orbiter Finance (@Orbiter_Finance) January 27, 2024 Binance Labs Clarifies SkyArk Chronicles FundingBinance Labs denies leading SkyArk Chronicles' $15M funding round, claiming unawareness. SkyArk Studio was incubated by Binance in 2021. SkyArk claimed Binance led its recent funding round, later retracted after Binance's denial. SkyArk apologized for the miscommunication and vowed to continue with the project. Multiple other institutions allegedly participated in the funding round. SkyArk Chronicles is a project incubated and invested in by Binance Labs in 2021 through Incubation Season 3; please note that Binance Labs did not participate in the project's latest financing round this year. Thank you all for your attention.SkyArk Chronicles Binance… pic.twitter.com/wqu2PBxKGE— Binance Labs Fund (@BinanceLabs) January 29, 2024 Friend.Tech's Decline Due to Security IssuesFriend.Tech's viral success saw a rapid decline due to security issues and a lack of user engagement. The platform hit a peak with 70,000 users and $50 million in TVL but now faces a 95% drop in activity. Security vulnerabilities resulted in a $20 million risk, while daily fees plummeted from $1 million to $50,000. Global Crypto Investment Products Face OutflowsLast week, global crypto investment products experienced $500 million in net outflows. Grayscale's GBTC saw the most prominent outflows, but these have begun to decrease. Nine new spot bitcoin ETFs received $1.8 billion in inflows. Bitcoin products had $479 million in net outflows, while Solana products saw inflows of $3 million. Manta Pacific's TVL Surge Post-AirdropManta Pacific's TVL surged to $1.75 billion after a 50,000,000 MANTA token airdrop. The share of TVL grew to $921 million. Despite disappointment over low airdrop profits, crypto expert Miles Deutscher predicts a potential rally. The airdrop caused frustration among investors due to low returns and a remote procedure call attack that affected network performance. Amazon's Bitfinex Hack Feature Film AnnouncementAmazon announces a feature film about the $4 billion Bitfinex hack, focusing on the exploits of Heather “Razzlekhan” Morgan and Ilya Lichtenstein. The couple confessed to stealing 120,900 Bitcoin, facing potential prison time and forfeiting ill-gotten gains. The film, directed by Hannah Marks and co-produced by Lili Reinhart, promises a captivating narrative of cybercrime and justice. OKX's Integration of Various InscriptionsOKX will integrate Atomicals, Stamps, Runes, and Doginals, aiming to launch a marketplace soon. Inscriptions, like NFTs, will be supported, with plans to expand to various networks. OKX Wallet currently supports inscriptions minting on 23 networks. Bitcoin inscriptions have seen significant growth. OKX’s Chief Innovation Officer views inscriptions as a new canvas for Web3 creators. Top Altcoin Gainers and LosersGainers:Sui SUI (+13.66%) Conflux CFX (+8.89%) SATS 1000SATS (+6.24%) Losers:Akash Network AKT (-6.19%) Ronin RON (-6.18%) Bittensor TAO (-4.99%) NFT Market MapNFT Sales Decline Across Major PlatformsDuring the week of Jan. 20-27, 2024, NFT sales plunged 21.25% to $228.33 million. Ethereum led with $74.97 million in sales, down 28.78%, followed by Bitcoin with $55.92 million, down 12.62%. Top five blockchains experienced double-digit declines. Cryptopunks led collections with $13.67 million in sales. OpenSea's Openness to Acquisition Amid Market ShiftsOpenSea, a prominent NFT marketplace, is open to acquisition amid industry consolidation. Overtaken by Blur, its monthly trading volume plummeted by 96%. OpenSea's valuation plunged after the NFT market crash, leading to employee layoffs. Despite its top investors, the company faces challenges in market share and stake value amid competitive pressure. This article has been refined and enhanced by ChatGPT.