Hello everyone, today is Monday 01/22/2024, and I wish you all a happy start to the week, although looking at the outlook for the value of $BTC which is down a bit, I know many will not be happy, and others may be as they will see buying opportunities.

Today I want to talk to you in particular about the recent movements in the crypto market and how these changes are affecting cryptocurrency investors and enthusiasts like myself, whether they are large or small investments.

I hope you like this article and let's kick off today's content....

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Image created in Bing AI - Edited in Photoshop CC

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Table of contents for this article:

♦️ Recent movements in the Crypto market.

♦️ Dencun update that will lower the cost of the Ethereum Fee.

♦️ New version in the Solana network.

♦️ Exploit attempt with XRP.

Image generated with Bing AI - Edited in Canva

The cryptocurrency market is a dynamic and constantly changing environment, and we all have that in mind, as every day we see new coins enter the market, while others disappear and their projects end up dying. Volatility is a constant in this space, and that's part of what makes it so exciting, beneficial and at the same time a bit risky.

Recent movements in the Crypto market.

Recently, we have seen some significant moves in the market. For example, the global cryptocurrency market capitalization is $1.6 trillion, which represents a 2.9% decrease over the last day. This may seem alarming to some, but for those of us who have been in the crypto space for a while, we know that these types of fluctuations are pretty normal so we're just passing this off as another day, as long as it doesn't decrease by a large amount, which I personally don't think it will...

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On the other hand, we have also seen some positive news, as it is not all red numbers and losses. To give you an example, and one of the ones that impressed me the most recently, Bitcoin has become the second largest ETF commodity in the United States, surpassing silver, and of course Gold is in first place.

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There has been an increase in Bitcoin network activity recently, and this has also led to an increase in transaction fees. In addition, it seems that the approval of Bitcoin ETFs has generated a lot of trading volume, but that did not translate into higher prices for Bitcoin, indicating that the event was already largely reflected in the price, but I also don't think this decline in value will last long for $BTC.

Image generated with Bing AI - Edited in Canva

Dencun update that will lower the cost of the Fee on Ethereum.

But it's not all about Bitcoin. Other cryptocurrencies such as Ethereum , Solana, XRP, among others, have also been showing interesting moves. Each of these coins has its own story to tell.

Ethereum has been experiencing some scalability issues, which has led to high transaction feestransaction fees, although it is no secret that you can take advantage of the quiet hours when most users are resting to make your transactions and the network is not saturated, resulting in a lower commission fee.

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However, there is positive news on the horizon, as Ethereum developers are working on an update called Dencun, which is expected to significantly reduce gas fees on the ETH network, although on January 17th a Testnet version was released before being tested on the main network, and some of the updates they are planning for us are interesting and among them we can see the ones I have shown in the image above.

With this in mind, it really makes me very excited to think of being able to use the ETH network paying lower commissions, as I am not very active in this network for the same reason, then I think this is great news for all of us who are day by day attentive to the crypto world and its various networks.

Image generated with Solana - Edited in Canva

New version of the Solana network.

Solana is a high-performance blockchain that has gained popularity due to its speed and efficiency, plus its fees are very economical, and a variety of projects are hosted on this network, even, I like its NFT artwork very much.

But recently, Solana validators adopted the v1.17 update, which brings several improvements to the network. Also, it seems that the Solana developer community is growing and there are several interesting initiatives going on, such as the Solana Hacker House and the adoption of blockchain credits to make the Solana network neutral.

With the arrival of v1.17 were implemented:

♦️ Feature updates.

♦️ Performance updates.

♦️ Increased resiliency.

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Although V1.17 was active in its Testnet version since October 3, 2023, recently on January 19 of this year it was indicated that it was essential to begin to massify the use of this new update, and here you can read in detail what this new version includes.

In my case I use the Solana network to buy and sell NFTs, because as I said before I love the NFT art style that is hosted in this network, it has very good collections and with good market values.

Image generated with Bing AI - Edited in Canva

XRP Exploit Attempt.

XRP is the native token of the Ripple network, which recently, has had a drop in price, possibly due to profit taking by investors and the crumbling hope for an XRP ETF. I am a retail investor in XRP, as my portfolio has a bit of this crypto, but I am more on the lookout for good value going forward, so this sudden drop doesn't affect me at all.

Also there was an attempt to exploit the XRP chain, but this attempt was thwarted, as they intended to use a payment Exploit to try to vulnerate Bitfinex, but luckily this failed, according to what I have read they tried to move 15,000 million XRP which in this case would represent almost half of all tokens in circulation, plus this came from an unknown wallet.

But all this in the end had no effect as Bitfinex validators are well structured to avoid these problems.

We started this week, a week full of new opportunities and new news, as well as different movements in the crypto market and in all blockchain networks, because what I explain here was only a small review of the news that resonated the most, or the ones that I focused on knowing because my interest in these cryptos lead me to be well informed of everything that happens in the market at all times.

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English is not my native language, so I have used Hive Translator.

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