Top Crypto News this week, Bitcoin and Ethereum in the spotlight

Bitcoin is back in the green zone, Glassnode analysis

A in chain analysis firm”glass knot” examined Bitcoin cohorts in 2022 in terms of distribution and accumulation. The analysis categorized the cohorts into 3 classes including shrimp, crabs and whales. Shrimps are investors holding even less than 1 Bitcoin while crabs hold 1-10 Bitcoin.

Whales are the largest investors who hold more than 1,000 BTC. In terms of bitcoin absorption, the shrimp absorbed almost 107% of BTC while the crabs managed to absorb almost 120%. Whales, on the other hand, absorbed 60% of Bitcoin in the previous year. On top of that, Bitcoin has reached $23,064.21 in terms of value, signifying a comeback after a long bear market.

Aave V3 Prepares To Go Live On Ethereum After Effective DAO Vote

Challenge “Aave” protocol is to present its 3rd-version on the network of Ethereum following the CAD vote. This will provide additional opportunities through DeFi market. Aave is considered a thriving decentralized lending forum among several projects driving the DeFi world. Recently, the protocol said it collected effective votes for the deployment of its 3rd version on the block chain of Etherum. Aave v2 on Ethereum has gained great fame in DeFi lending as it has the highest Total Value Locked (TVL).

Celsius will introduce a unique token for the reimbursement of creditors

Bankrupt crypto credit platform Celsius is planning to introduce a unique token to compensate its creditors. This project is part of the company’s restructuring plan, according to Mr. Kwasteniet (lawyer for Celsius). This proposal has been authorized by the creditors and the court. According to reports, details of the compensation plan will be filed by Celsius with the court in the coming days.

BlockFi to trade equipment amid bankruptcy turmoil

BlockFi, a bankrupt crypto lender, plans to liquidate debts of up to $160 million secured by nearly 68,000 BTC mining equipment. The deadline for the respective offer is 24e of January. After the FTX Implosion in November as well as the collapse of Three Arrows Capital in 2022n/a quarter, BlockFi suffered an extreme setback.

The platform could not bear the fall of FTX and quickly gave up. It continually attempts to return funds to consumers during their bankruptcy proceedings. BlockFi is ranked among many crypto lending platforms such as Terra Luna (a stablecoin project), Three Arrows Capital (a crypto hedge fund) and FTX (a crypto exchange) which have filed for bankruptcy in previous months.

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