Take a closer look at what is going on in the crypto industry with U.Today’s summary of the top four news stories over the past day.
Bitcoin spikes to $49,000 as Fed leaves interest rates unchanged
During yesterday's meeting, Federal Reserve officials decided to leave interest rates unchanged, keeping them between zero and 0.25%. After the decision was revealed, Bitcoin immediately reacted by reaching a new intraday high above $49,000, bringing the $52,000 resistance level in sight for bulls. As stated by Fed officials, the institution will maintain near-zero rates until full employment is achieved.
Elon Musk reacts to Dogecoin creator’s crypto tax tweet
The recent glitch on cryptocurrency market tracker CoinMarketCap was not left unnoticed by the Twitter crypto community and even became a source of jokes for some crypto influencers. Bill Markus, the Dogecoin creator, posted a screenshot with the top cryptos showing unprecedented growth numbers, adding that this might raise his tax bracket "a bit." Markus hinted at a progressive taxation system that requires households to pay taxes in accordance with their income.
Elon Musk reacted with a laughing emoji right before a heated discussion with Senator Elizabeth Warren. She claims that regulators should modify the unfair tax code to make Musk pay more taxes.
43 billion SHIB received by whale in past two days, but only two billion left now
Figures provided by etherscan demonstrate that, over the past two days, a whale has received a staggering 43 billion SHIB. The anonymous address has seen lumps of 4.5 billion, 4 billion, 3 billion and 2 billion pass through it, as they were immediately sent away. There are currently only two billion Shiba Inu coins left on its balance sheet.
At the moment, the amount of addresses sending and receiving SHIB remains low compared to the figures of this year’s early fall, with the overall volume of tokens transferred worth approximately $100 (three million SHIB).
MATIC rises 8% as Ethereum whale buys one million tokens
After dropping nearly 16% on Dec. 13, Polygon’s native asset, MATIC, faced an 8% surge. The buying sentiment was fueled by a testnet implementation launch of Ethereum Improvement Proposal 1559 to introduce the burning of MATIC tokens. Another reason for MATIC’s price growth is large investors taking advantage of the asset’s dip. WhaleStats data showed that an Ethereum whale purchased 1,007,525 MATIC tokens worth $2,025,125.
At the moment, MATIC is changing hands at $2.16, according to CoinMarketCap.