House and Senate hearings on stablecoins will spotlight official behind Treasury report: sources — link

ADA is still ranging above the support area. We will see a breakout of this range soon. The major support is the $1.00 area and ADA needs to hold above this. Keep tight stop loss in ADA open positions. The resistance remains the same. The $1.00 is major support on daily and weekly charts and a break below this will start a new downtrend. Keep an eye on the support level.

GALA break the downtrend channel and also retested it. GALA is now taking support at the $0.18 area. The first resistance is $0.20-$0.21 area. If GALA break the support of $0.18 then the next local support is $0.16 area and major support is $0.145 area. Stop-loss is a must in every trade.

WORMHOLE PROTOCOL CONFIRMS IT WAS HACKED OF 120,000 ETH(~$320M), MAKING IT THE 2ND LARGEST DEFI HACK EVER

Whales had been distributing since September, but it seems that this week they are finally adding to their holdings — link

Japanese trading house Mitsui & Co. plans to issue cryptocurrency linked to gold prices — link

Arca has closed a $50m fund dedicated to investing in individual NFTs — link

India legalizes crypto, unveils 30% tax on sale of digital assets

India announced plans to begin taxing income from digital assets on Tuesday, while also setting out plans for the launch of its own digital currency.
The Indian government unveiled a tax of 30% on the sale of crypto assets in a move that brings more clarity to the regulatory and tax treatment of cryptocurrencies following months of uncertainty about their legal status in the country.

Google Trends worldwide search interest for ‘NFT’ has overtaken ‘crypto’, and is even starting to catch up to that of ‘bitcoin’.

Ferrari is looking to integrate NFTs, metaverse and Web3

Luxury car maker, Ferrari, has reiterated that it is giving Non-Fungible Tokens (NFTs), the metaverse, and blockchain technology serious consideration.
During the company’s Q4 2021 earning call, Benedetto Vigna, the CEO of Ferrari, assured investors that the carmaker is keen on adopting the new technology.
Ferrari recently signed a deal with Swiss blockchain company Velas Network that will see the start-up issue exclusive digital collectibles and sponsor Ferrari’s racing team.

Sen. Ted Cruz discloses a bitcoin purchase worth up to $50,000 — link

Total stablecoin supply over $170 billion (includes crypto-backed and algo stablecoins) — link

Funding is favoring shorts so far.

NAS100 opened. Index is on the edge, if it breaks below 14500, it's really bad for crypto. On the other hand, if it keeps above, it can bounce hard.

OpenSea sales volume topped over $200M a day in parts of January 2022 which is more daily volume than most of JPEG summer of 2021.

Despite a dip over the last week the number of unique sales is also near all-time highs — link

Treasury official behind stablecoin report to testify at Senate hearing next week — link

Russia set to recognize crypto as a form of currency: report — link

BlackRock planning to offer crypto trading, sources say — link

Binance, led by the world’s richest crypto billionaire, is taking a $200 million stake in Forbes — link

Russia shuts down darknet sites that had made $263 million in crypto — link

Apple plans to launch Tap to Pay for contactless payments
Apple Inc. unveiled its plan to introduce Tap to Pay feature on iPhone in its official press release. This new capability will allow US merchants to accept Apple Pay and other contactless payments later this year.