Hello there and welcome to another Coinigy news roundup!
Last week, CoinLedger reported that the average crypto investor made less than $1k in realized gains last year.
Which made no sense, because the crypto market only climbed throughout 2023.
…but then we thought about it from a personal perspective — and something clicked.
We didn’t make ANY realized gains from crypto last year!
You have to sell your crypto to ‘realize’ a gain — and we spent the whole year buying.
So if you see this story being thrown around anywhere outside of this newsletter (e.g. your uncle Barry uses it as fodder in the family group chat “See, I told you this stuff was worthless!”) just remember:
2023 was a year of accumulation, and Barry (while lovable) is an idiot.
Here’s the rest of the news 😁
- Bitcoin Pushes Through $50K for First Time Since Late 2021
- MicroStrategy Makes Its Case as Alternative to Spot Bitcoin ETFs
- SEC Delays Joint Ethereum ETF Proposal from Invesco, Galaxy Digital
- DeFi hits $60B TVL milestone, led by Lido Finance and restaking trends
- Monero hits 5-month low as Binance plans delisting
Bitcoin Pushes Through $50K for First Time Since Late 2021
After a brief stumble following the Jan. 11 launch of the spot ETFs, the bitcoin (BTC) bull market began in January 2023 and has entered the FOMO stage, with the price breaking out above $50,000 for the first time in more than two years.
MicroStrategy Makes Its Case as Alternative to Spot Bitcoin ETFs
Addressing whether those wishing to allocate to bitcoin might be choosing to buy the ETFs rather than MSTR, the company in its earnings presentation attempted to make its case as the superior alternative.
SEC Delays Joint Ethereum ETF Proposal from Invesco, Galaxy Digital
A Tuesday SEC filing shows that Wall Street’s top regulator has pushed back its decision on approving or denying the jointly proposed product from asset management giant Invesco and crypto company Galaxy Digital.
DeFi hits $60B TVL milestone, led by Lido Finance and restaking trends
According to the DeFi data aggregator, the sector’s TVL has rallied significantly in recent months, with most of the growth occurring after the general market rally in October.
Monero hits 5-month low as Binance plans delisting
The exchange will remove all trading pairs involving Monero, including those trading against Bitcoin, Ether, Tether, and Binance’s native coin, BNB. Withdrawals for XMR tokens will be suspended after May 20, 2024.
Other Highlights Worth Mentioning
Polish Town Adopts Stablecoin for Local Commerce – Blockworks
Grand Jury Indicts Hackers Linked to $400 Million Stolen from FTX – Crypto News
Tether Launching New Arm to Create, Coordinate Educational Initiatives – Cointelegraph
Bitcoin price jumps 12% in 7 days as $50k predictions gain speed – AMBCrypto
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- Source: https://insights.coinigy.com/ouch-crypto-investors-lost-big-in-23-bitcoin-hits-50-000/
