Share this article
First Mover Americas: Bitcoin Regains $41K in End of Week Rally
The latest price moves in crypto markets in context for Jan. 26, 2024.
Updated Mar 9, 2024, 5:47 a.m. Published Jan 26, 2024, 1:11 p.m.
This article originally appeared in First Mover, CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.
Latest Prices
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Top Stories
Crypto prices ticked upward during the European morning following a sedate Asian session. Bitcoinreached $41,250 at around 11:45 UTC to show gains of about 2.6% in the last 24 hours, while theCoinDesk 20 Index, a liquid index that tracks the highest tokens by capitalization, was up about 1.6%. Solana's SOL and Avalanche's AVAX were among those leading the gains, showing green candles to the tune of 3.7% and 5.7% respectively. Nonetheless, the crypto market remains around 14% down on its highs immediately following the approval of spot bitcoin ETFs in the U.S. earlier this month.
ARK Invest hassold a total of 2,226,191 shares of the ProShares Bitcoin Trust ETF since Jan. 19, worth around $42.8 million at Thursday's closing price of $19.22, from its Next Generation Internet ETF (ARKW). Meanwhile, it has bought 1,563,619 shares in the ARK 21 Shares Bitcoin ETF (ARKB), worth approximately $62.3 million. ARK held BITO as a short-term play having offloaded its shares of the Grayscale Bitcoin Trust (GBTC) late last year, in anticipation of the approval of spot bitcoin ETFs in the U.S., with plans to swap BITO for a spot bitcoin ETF once the approval came. ARKW now holds $91.4 million of ARKB, constituting a 5.98% weighting of the fund's total value. Its BITO shares now number just 366,128 at a value of $7 million, a 0.46% weighting.
Developers behind the Celo blockchain have been evaluating technical proposals from teams who might provide technology as the project migrates to become a new layer-2 network atop Ethereum, a search which appears to be reaching a conclusion. In a blog post on Thursday, Tim Moreton, CEO of cLabs, the leading developer behind Celo, wrote that "as we wrap up the technical evaluations, we’re moving to evaluating the non-technical dimensions described in the framework." Some of the biggest players in the blockchain industry were vying for the mandate: Optimism, Polygon, zkSync and Arbitrum. Moreton didn't provide a specific timeline for when a final recommendation might come about, writing, "We're working as fast as we can to get a comprehensive proposal that we feel confident proposing."
Trending Posts
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin Faces Japan Rate Hike: Debunking The Yen Carry Trade Unwind Alarms, Real Risk Elsewhere
Speculators maintain net bullish positions in the yen, limiting scope for sudden JPY strength and mass carry unwind.
What to know:
- Impending BOJ rate hike largely priced in; Japanese bond yields near multi-decade highs.
- Speculators maintain net bullish positions in the yen, limiting scope for sudden yen strength.
- BOJ tightening may contribute to sustained upward pressure on global yields, impacting risk sentiment.
Top Stories
