Bitcoin is continuing to set new price records, breaking above $35,000 for the first time ever on Jan. 5. After setting its past record of roughly $34,800 on Jan. 3, BTC posted a fast retracement down to $28,000 the following day. However, the crash was short-lived, with BTC quickly recovering, and pressing into new all-time highs above $35,800 around 4.30am (UTC). Bitcoin has now gained roughly 80% since breaking into new highs on Dec. 16, and is up 22% in seven days.

One Bitcoin at $34K now buys one Tesla after Elon Musk has a Dogecoin Christmas
A healthy price boost to both BTC and DOGE comes as hodlers can now afford a whole Tesla Model 3 with a single bitcoin.

Bitcoin hodlers can now all own a Tesla electric car — as long as they have at least 1 BTC in their wallet. As BTC/USD crossed $34,000 at the weekend and went on to hit $35,600 on Jan. 6, the brainchild of Elon Musk became more affordable than ever. As per pricing on Tesla's official website, the company's entry-level offering, the Model 3, retails at $33,960 in the United States if no environmental fuel rewards are applied.

Musk, who has long taunted Bitcoiners with tweets and comments which leave it unclear whether he supports it, continues to face pressure to accept the cryptocurrency for Tesla purchases.

Vietnamese bank issues its first letters of credit on the blockchain
Letters of credit are important documents in international trade that provide a guarantee from a creditworthy institution.

Major Vietnamese bank HDBank has now become the first bank in the country to issue letters of credit, or L/C, using blockchain technology. According to a Jan. 6 report by local media outlet Việt Nam News, the issuance, document presentation and successful payment of L/C on the blockchain marks a major milestone on HDBank’s stated goal, to become a “Happy digital bank”. The participants in the first transaction were a local fiber importer and a Taiwanese yarn manufacturer, along with the L/C advising bank in Taiwan.

Ethereum fees nearly double as 24-hour trading volume tops $50B
Ethereum transaction fees reached a new all-time as trading volume crosses $50 billion.

Ethereum network fees continue to climb, with the average value topping out at $17.43 per transaction, according to data from YCharts. As previously reported by Cointelegraph, average fees were at about $10.20 on Monday.

The $17.43 per transaction constitutes an all-time high in average Ethereum fees, beating the previous record of $12.54 back in September during the height of decentralized finance mania. As of press time, Ethereum transaction fees have declined significantly, with a median fee of $1.63, based on data from Etherscan, ETH Gas Station and Gas Now.

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