Bitcoin inches closer to a 10-year record, as other stats turn bullish
A record Bitcoin (BTC) set in November 2013 could soon be beaten if the cryptocurrency can keep up its positive price action. Meanwhile, Ethereum statistics show the blockchain has crossed one major milestone and is likely to cross another in the second quarter.

The world's first cryptocurrency Bitcoin is one day away from matching its historic 15-day win streak if its positive price movement keeps up.

In November 2013 Bitcoin posted consistent positive price movement for 15 days, the longest such streak in its history.

Right now, BTC is on day 14 of its win streak, hitting four-month highs in the process.

One more day of upward price movement will match its 2013 streak. If Bitcoin keeps gaining another day after that it will set a new all-time record with a 16-day winning streak.

It’s not the only bullish metric crossing into new territory.

Ethereum to soon cross 100M non-zero addresses

Ethereum addresses holding at least some Ether will soon cross the 100 million mark, given the current amount of wallet addresses and the historical growth rate of the metric.

On Jan. 16, crypto analytics firm Glassnode said that the number of non-zero ETH addresses reached an all-time high of nearly 92.5 million.

According to the data, Ethereum is just 7.5 million non-zero addresses away from crossing the 100 million milestone.

Since 2019 the figure has risen by roughly 20 million per year. If that rate continues, it’s likely non-zero ETH wallets could hit 100 million by sometime in the second quarter of 2023.

ETH hits half a million validators

Another Ethereum statistic that has continued to grow is the count of its validators — entities responsible for validating transactions made on the blockchain.

The ETH validator count crossed the 500,000 mark on Jan. 12, according to BeaconScan data.

It comes as the Shanghai hard fork slated for March would — among other things — allow validators to finally withdraw their ETH that was staked so they could help validate the network.

U.S. top country for crypto payments acceptance

The United States is the most accepting country for those who want to splash their crypto on purchases.

More than half of the companies from a list of 250 accepting crypto as payment were U.S.-based, according to the Jan. 14 Forex Suggest Crypto Acceptance Report, giving the country the top spot for the number of crypto-accepting firms.

The U.S. was trailed by runner-up the United Kingdom, while third place went to America’s neighbors to the north, Canada.

E-commerce was the most accepting industry of crypto closely, followed by the travel industry.

The largest business by market capitalization to accept crypto was the $1.8 trillion big tech player Microsoft.

Wrapped Bitcoin on Ethereum falls 35% from 2022’s peak

Not everything was bullish.

Wrapped Bitcoin (WBTC), a tokenized and 1:1 backed version of BTC on Ethereum, has seen its supply on the Ethereum blockchain drop by 35% since May.

A Jan. 17 tweet from Glassnode revealed the May 2022 all-time high of 285,000 WBTC on Ethereum came right before the price collapse of TerraLunaClassic (LUNC) and its paired algorithmic stablecoin TerraClassicUSD (USTC).

The amount of WBTC has fallen by 101,550 over the course of 2022 and the blockchain now hosts around 183,500 tokenized Bitcoin.


CFTC commissioner calls for global industry standards in crypto regulation
Caroline Pham also noted that it’s important to think proactively instead of just maintaining the status quo.

Caroline Pham, the Commodity Futures Trading Commission (CFTC) commissioner, has recently called on regulators to provide clearer guidance on crypto assets in 2023.

In an interview with Bloomberg, Pham mentioned that discussions with global players over crypto regulations are ongoing. The government official said many foreign discussions are currently happening about global industry standards for crypto regulation.

According to Pham, she has had more than 75 meetings with various parties to discuss topics concerning crypto regulation. The CFTC commissioner highlighted that “very advanced discussions” were happening outside of the United States about what kind of standards could be applied globally.

When asked about the recent issues that highlighted flaws within the space, such as Gemini and Genesis’ legal troubles, Pham noted that regulators must think about how to “use existing authorities to provide the clarity that’s needed now.”

The commissioner noted that this means identifying a crypto financial instrument and holding it to the same standards as other financial instruments. Pham also said that identifying frameworks that apply to non-financial crypto activities and blockchain technology use cases must also be explored.

Pham mentioned that she hopes for more guidance from regulators based in the U.S. in 2023. She said:

“What I’d like to do is to see the CFTC and other regulators provide more guidance this year and I’m very hopeful that perhaps we will see more clarity in the United States.”

Lastly, Pham said it’s vital to think about what more can be done and not just be satisfied with “maintaining the status quo.”

In other news, Bank of England governor Andrew Bailey has recently questioned the need for a digital pound. According to the official, a central bank digital currency might not be necessary as they already have a settlement system in the United Kingdom.


Coinbase stops Japan operations amid trading slump
Coinbase announced that the crypto exchange is halting its operations in Japan due to “changes in the market environment.”

Despite Bitcoin returning to pre-FTX collapse price levels, the contagion still affects the industry, forcing Coinbase cryptocurrency exchange to close operations in Japan.

Coinbase officially announced on Jan. 18 that the firm will be terminating operations in Japan and conduct a complete review of its business in the country due to market conditions.

All Coinbase Japan customers will have about a month to withdraw their fiat and crypto holdings from the platform by Feb. 16. After Feb. 17, the remaining crypto assets held by Coinbase Japan customers will be automatically converted to the Japanese yen (JPY). Fiat currency deposits will not be available from Jan. 20.

The firm noted that clients will be able to move the assets to any other virtual asset service provider, a self-custodial wallet as well as Coinbase Wallet. Customers can also liquidate their portfolio and withdraw their assets to a domestic bank account.

Coinbase stressed that the platform is committed to making the service termination as smooth as possible, assuring customers that all users can withdraw their assets at the earliest convenience.

As previously reported, Coinbase originally started planning its Japanese expansion during a bear market of 2018.

In quitting Japan, Coinbase follows in the footsteps of Kraken, another global crypto exchange that decided to cease operations in the country in late 2022. The exchange said it faced similar challenges in Japan, citing a “weak crypto market.”

Both Kraken and Coinbase have also significantly reduced their workforce, with Kraken laying off 30% of its staff soon after the FTX exchange collapsed in November. Coinbase, which already had its staff reduced by 18% last year, announced another 20% workforce cut in January.


This Daily Dose was brought to you by Cointelegraph.

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