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22/01/2024. Weekly CryptoNews Digest (January, 15 – January, 21)


Ahoy there, MNO blog family! Get ready for some serious island vibes because yours truly is jetting off to Thailand in a couple of days! Don’t worry though, this crypto enthusiast isn’t leaving you hanging in the digital ether.

Even though I’ll be swapping my keyboard for a hammock (and maybe a surfboard, who knows?), I’ll still be keeping my finger on the pulse of everything that’s happening in the crypto world and beyond. Expect regular updates on market movements, breaking news, and insightful analysis – all delivered straight from my palm-shaded paradise.

Before getting into the specifics of what the crypto industry brought us to talk about last week I should remind you that I’m still available to answer all your questions with the best way of contacting me for a live chat still being via Telegram @mnoblog. You may also submit your query using this contact form or just email me directly at I’m looking forward to hearing from you and still encourage you to share your vote on the MNO TalkBack page in the last poll, so we could draw the final results in a few weeks time.

Remember that later this year I plan to replace HYIPs with other money-making opportunities that my readers can utilize to actually make a passive income from with no risk whatsoever. So, if you don’t want to miss some great paying websites that will actually make you some profits then the only way you ensure you will hear of them first is to follow MNO on Telegram, Facebook, or X/Twitter.

By doing so you will be updated once anything worthwhile appears on my monitor that will help you to add more options to earn a discretionary income for yourselves. And if you wish to receive the blog articles directly to your email address you can submit and confirm it on this page and join the thousands of subscribers I have already.

It’s time now to get back on with the main news from the crypto industry that grabbed our attention from January, 15 to January, 21, 2024. The main news wasn’t great for many crypto enthusiasts who expected the price surge after the recent ETF approval by SEC. So let’s start today’s Weekly CryptoNews Digest on MNO, shall we?


Last week’s BTC price saw a surprising dip after the long-awaited approval of spot ETFs. Here’s a breakdown of what happened:

Price Movement:
– Initial Surge: Immediately after the ETF approval on January 11th, Bitcoin briefly spiked to $49,058, its highest level since December 2021.
– The Drop: However, the rally didn’t last. Over the following week, the price steadily declined, reaching a low of $40,600 at the time of writing this article. This translates to a roughly 18% drop since the ETF approval.

Possible Reasons for the Dip:
– Sell-the-News: Some analysts attribute the decline to a classic “sell-the-news” scenario. The excitement surrounding the ETF approval may have led to short-term buying by investors hoping to cash in on the hype. Once the news subsided, these investors sold their positions, driving the price down.
– Profit-taking: Others suggest that early investors, who bought Bitcoin at lower prices, took advantage of the post-approval surge to lock in profits. This also contributed to selling pressure.
– Rotation to other Cryptocurrencies: With the major hurdle of ETF approval cleared, some investors may have shifted their focus to other cryptocurrencies with perceived higher growth potential, like Ethereum. This could have diverted funds away from Bitcoin and contributed to the price decline.
– Regulatory Uncertainty: Despite the approval of spot ETFs, some regulatory concerns remain surrounding the crypto market. This uncertainty may have made some investors hesitant to invest heavily in Bitcoin, leading to reduced demand and lower prices.

Remember that the crypto market is highly volatile, and there is no single, definitive explanation for any price movement. The factors listed above are just some of the possible reasons for last week’s Bitcoin dip.


Following the historic approval of spot Bitcoin ETFs by the SEC in January 2024, these new investment vehicles have quickly amassed nearly $30 billion in assets. This impressive figure is even more remarkable considering their recent launch, just a few weeks ago.

In stark contrast, silver ETFs, which have been around for much longer, hold a combined total of only about $11 billion. This significant disparity highlights the influx of capital into the Bitcoin market, driven by factors like:
– Easier Accessibility: ETFs make it easier for institutional and retail investors to gain exposure to Bitcoin without directly buying and holding the cryptocurrency itself. This broader accessibility attracts more investors, boosting demand.
– Potential for Higher Returns: Compared to silver, some investors see Bitcoin as a more volatile asset with potentially higher growth potential. This perceived upside attracts those seeking significant returns.
– Inflation Hedge: Bitcoin’s limited supply makes it a potential hedge against inflation, appealing to investors concerned about rising prices.

Implications for the Future
The rapid growth of Bitcoin ETFs suggests several key points:
– Mainstream Acceptance: It signifies a growing acceptance of cryptocurrency as a legitimate investment asset among traditional investors.
– Market Legitimization: This trend could further legitimize the crypto market and attract even more capital, potentially pushing Bitcoin’s price further.
– Volatility and Uncertainty: However, the crypto market remains highly volatile, and regulatory uncertainties persist. Investors should carefully consider these risks before investing in any cryptocurrency.


The news that nine new spot Bitcoin ETFs have amassed nearly 81,000 Bitcoins, currently valued at around $3.5 billion, since their launch is indeed significant and has several interesting implications. Here’s a deeper dive:

Rapid Accumulation Highlights Strong Demand:
– The sheer amount of Bitcoin purchased in such a short time indicates strong institutional and retail investor demand for exposure to the cryptocurrency through these ETFs.

This demand likely stems from several factors, including:
– Easier access: ETFs provide a more traditional and regulated investment vehicle compared to directly buying Bitcoin, attracting a broader range of investors.
– Diversification: Bitcoin ETFs can help diversify investment portfolios and potentially hedge against inflation due to Bitcoin’s limited supply.
– Perceived growth potential: Some investors view Bitcoin as a potentially high-growth asset compared to traditional investments, seeking significant returns.

Impact on Bitcoin Price and Market:
– This large-scale buying by ETFs could contribute to an increase in Bitcoin’s price in the long term due to increased demand and potentially reduced supply.
– It may also further legitimize the crypto market and attract even more capital, potentially leading to further growth and development of the industry.

Individual ETF Performance:
– While the total figure is impressive, it’s important to note that individual ETF performance may vary. Some ETFs, like BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s (FBTC), are reported to hold larger amounts of Bitcoin than others.
– Tracking the performance of individual ETFs can provide insights into investor preferences and market trends within the Bitcoin ETF landscape.

Looking Forward:
The rapid growth of Bitcoin ETFs is a significant development in the financial world, indicating a growing acceptance of cryptocurrency as an investment asset.
– However, it’s crucial to remember that the crypto market remains volatile and subject to regulatory uncertainties. Investors should carefully consider these risks before investing in any cryptocurrency, including Bitcoin or Bitcoin ETFs.


Solana Mobile, the team behind the ambitious Saga crypto phone, has announced plans for a second, more affordable smartphone. This new device called Solana Saga 2 is expected to launch in the first half of 2025 and will be priced at $450, significantly lower than the original Saga’s $1,000 price tag.

The company hasn’t revealed much about the new phone’s specs yet, but they’ve said it will have the same basic features as the Saga, including:
– Built-in crypto wallet: This will allow users to store, send, and receive cryptocurrencies directly on their phone without having to use a separate exchange or wallet app.
– Custom Android software: The phone will run a custom version of Android that’s been optimized for crypto use. This will include features like a built-in dApp browser and support for Web3 authentication.
– Decentralized application store: The phone will have its own app store that will only list decentralized applications (dApps). These are apps that run on blockchain networks, rather than on traditional centralized servers.

Solana Mobile hopes that the new phone will make it easier for people to get involved in the crypto world. The lower price point and more familiar Android experience should make it more appealing to a wider audience than the original Saga.

Here are some of the potential benefits of the new phone:
Increased adoption of crypto: By making it easier for people to use and store crypto, the new phone could help to increase the overall adoption of cryptocurrencies.
– More innovation in the dApp space: The phone’s focus on dApps could lead to the development of new and innovative applications that take advantage of the benefits of blockchain technology.
– Greater security and privacy: By using decentralized apps and wallets, users can avoid the risks associated with centralized platforms.

Of course, there are also some potential challenges that Solana Mobile will need to overcome:
Competition from existing smartphones: The new phone will face competition from established smartphone manufacturers, who are also starting to offer features like built-in crypto wallets.
– Security concerns: Cryptocurrencies and dApps are still relatively new technologies, and there are a number of security risks that users need to be aware of.
– User experience: The custom Android software and dApp store may not be as user-friendly as traditional Android apps.

Overall, the launch of the new Solana phone is a significant development in the crypto space. It has the potential to make crypto more accessible and user-friendly, but it also faces a number of challenges. It will be interesting to see how Solana Mobile fares in this competitive market.


The 2024 Crypto Crime Trends report is a publication by Chainalysis, a company specializing in blockchain data analysis and cryptocurrency investigations. It focuses on analyzing illegal activity within the cryptocurrency market throughout 2023, providing insights into current trends, emerging threats, and potential solutions.

Here are the Key Points from Chainalysis’ 2024 Crypto Crime Trends Report:
– Decrease in total illicit transaction volume: Compared to 2023, the total value received by illicit cryptocurrency addresses dropped significantly in 2024, reaching $24.2 billion (down from $39.6 billion).
– Shifting priorities: While overall crime volume decreased, certain areas like scams and ransomware saw slight increases, suggesting criminals are adapting their tactics.
– New focus on stablecoins: Criminals are increasingly turning to stablecoins like Tether and USD Coin for illicit transactions, surpassing Bitcoin as the preferred currency.

Specific Trends:
– Scams: Crypto scamming revenue decreased 29.2% in 2024, but romance scams targeting individuals are on the rise.
– Stolen Funds: Similar to scams, revenue from stolen funds saw a 54.3% decline.
– Ransomware: Despite efforts to improve cybersecurity, ransomware revenue registered a small increase compared to 2023.
– Sanctions: Transactions with sanctioned entities and jurisdictions represented a significant 61.5% of all illicit activity measured.

Other important takeaways:
– Growing maturity of crypto crime: Despite the dip in overall volume, the report highlights the growing sophistication and professionalism of crypto crime.
– Importance of analytics and regulation: Blockchain data analysis and effective regulatory frameworks remain crucial in combating crypto crime.
– Ongoing evolution of criminal behavior: It’s important to stay informed about emerging trends and adapt security measures accordingly.


You may have heard of Davos which is renowned for hosting the prestigious World Economic Forum every year. It usually hums with conversations about the latest advancements in blockchain and cryptocurrency. However, this year, a different player has stolen the spotlight: artificial intelligence (AI). Here are some key reasons behind this shift:

1. AI’s Broader Impact:
– While crypto primarily focuses on financial applications, AI has a wider range of potential impacts, touching healthcare, climate change, transportation, and more. This broader appeal resonates with a diverse audience at Davos, attracting attention from leaders across various sectors.
– AI’s potential to solve complex global challenges like climate change and resource scarcity is drawing significant interest, making it a more pressing topic than crypto’s current focus on financial innovation and investment.

2. AI’s Real-World Progress:
– Unlike crypto, which is still grappling with regulatory uncertainties and market volatility, AI is experiencing tangible progress in various fields. Advances in AI-powered robots, medical diagnostics, and self-driving cars are showcasing its practical applications and generating excitement for its future potential.
– This real-world progress is fuelling investor confidence in AI and attracting substantial funding. In 2023, global AI investment reached $133.7 billion, showcasing a significant shift in focus from crypto’s volatile market.

3. Crypto’s Recent Challenges:
– Crypto’s recent market downturns and regulatory concerns have dampened enthusiasm among some investors and entrepreneurs. Issues like the FTX collapse and concerns about energy consumption have raised questions about the industry’s stability and long-term viability.
– This negative sentiment surrounding crypto has pushed it to the back burner for some at Davos, while AI’s continued progress and positive outlook have made it the more attractive topic of discussion.

4. Convergence of AI and Crypto:
– While AI and crypto may seem like separate entities, there’s a growing convergence between the two. AI is being used to develop new crypto algorithms and analyze blockchain data, while crypto is being used to incentivize AI development and create decentralized AI platforms.
– This synergy between the two technologies may lead to further collaboration and integration in the future, suggesting that AI’s prominence at Davos doesn’t necessarily mean the end of crypto’s relevance.

Overall, AI’s ascent to the spotlight at Davos reflects its increasing importance and potential to revolutionize various industries. While crypto may not be dominating the conversation this year, its potential for future integration with AI and its ongoing development in financial applications suggest it will remain a relevant force in the technology landscape.

That’s all for this issue of the MNO Weekly CryptoNews Digest. Before I sign off, I just want to say a big thank you to all of you who tuned in, chimed in, and shared your thoughts. Your engagement fuels the fire of this blog, and I wouldn’t be here without you.

Meanwhile, buckle up for a wild ride! Later next week we’ll be exploring blockchain beaches, diving into DeFi deeps, and conquering the ever-changing crypto landscape, all while soaking up the Thai sunshine. Get ready for some tropical tech takes, sun-kissed insights, and maybe even a few coconut-inspired analogies. This ain’t your average crypto journey, folks. This is blockchain meets barefoot luxury, and I can’t wait to share it all with you!

Blog break is on, but MNO returns with fresh fire next Monday – stay tuned for more blockchain brilliance! MNO – For Money Lovers!

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