• Dan Dolev, a senior analyst at Mizuho, has warned that Coinbase stock could tank 40% from its current price.
• The warning is based on a survey that suggests retail traders are not participating much in the recent surge of Bitcoin.
• Dolev has reiterated his “underperform” rating on the cryptocurrency exchange and has set a $30 price target.

Coinbase Global Inc, one of the world’s leading cryptocurrency exchanges, could be set for a steep decline in the coming weeks and months. This is according to a warning by Dan Dolev, a senior analyst at Mizuho. Dolev has given an “underperform” rating on Coinbase and has set a price target of $30, which represents a 40% downside from its current price.

The warning is based on a survey that suggests retail traders are not participating much in the recent surge of Bitcoin’s price. Retail trading is the bread and butter of Coinbase, as it accounted for 83% of the exchange’s revenue in 2021. The survey revealed that 90% of the traders that were on the sidelines in December continue to be inactive this month, and over 33% that traded last month have sat the January activity out.

Dolev also cited market share data and potential signs of take rate pressures in Q4, which could lead to more headwinds for Coinbase in 2023. Coinbase stock is currently up over 50% for the year, despite the recent announcement that the exchange is ending its operations in Japan.

The news from Dolev is concerning for Coinbase investors, as the exchange has been one of the major beneficiaries of the recent surge in cryptocurrency prices. However, if Dolev’s prediction is correct, Coinbase stock could make a new low in the coming weeks and months. It remains to be seen how the market and investors will react to this warning.

• SSV Network announced the launch of a $50 million ecosystem fund.
• The fund will go to developers working on distributed validator technology (DVT).
• SSV Network has been growing its liquid staking infrastructure in anticipation of Ethereum’s Shanghai upgrade.

SSV Network, a fast-growing provider of liquid staking infrastructure, recently announced the launch of a $50 million ecosystem fund. This fund is a major step forward for the company, as it will be used to grow its ecosystem and promote the adoption of distributed validator technology (DVT).

The main goal of SSV Network is to provide secure and reliable liquid staking infrastructure. Liquid staking is a form of DeFi that allows users to participate in the governance of a blockchain network while also earning rewards. By investing in liquidity pools, users can earn rewards in the form of tokens. This has made it increasingly popular among investors looking to diversify their portfolios and increase their exposure to the DeFi space.

In anticipation of Ethereum’s upcoming Shanghai upgrade, SSV Network has been growing its liquid staking infrastructure. This is in part due to the growth of Lido DAO, the largest liquid staking provider in the world. SSV Network has seen its token grow by more than 91% this year as more investors become aware of the potential of liquid staking.

The $50 million ecosystem fund will be used to support developers working on the DVT technology. This will help SSV Network to expand its reach and grow its user base. The fund will be used to invest in projects and companies that are working on the technology, such as Ankr, Stader, and Moonstake. Additionally, SSV Network has allocated $10 million in 2022 to further promote the adoption and usage of their platform.

With the launch of the $50 million ecosystem fund, SSV Network is hoping to cement its position as one of the leading providers of liquid staking infrastructure. The fund will help to promote the adoption of the technology and, in turn, increase the value of the SSV token. As more users come to rely on the SSV Network for their liquid staking needs, it is likely that the token will continue to rise in value.

• Crypto.com has announced layoffs, citing negative economic developments as the reason.
• About 20% of Crypto.com’s workforce will be affected, amounting to 700 to 900 employees.
• Other crypto firms, such as Huobi and Coinbase, have also announced layoffs this year.

Crypto.com, one of the leading crypto exchanges, has today announced that it will be laying off some of its staff due to negative economic developments. This announcement comes just days after Coinbase also announced similar layoffs.

The co-founder and CEO of Crypto.com, Kris Marszalek, shared the news in a tweet post stating that the company is reducing its global workforce by 20%. This means that about 700 to 900 employees will be affected. In the announcement, the CEO wrote: “Today we made the difficult decision to reduce our global workforce by approximately 20%.”

In a follow-up tweet post addressing the matter, Marszalek wrote: “We grew ambitiously at the start of 2022, building on our incredible momentum and aligning with the trajectory of the broader industry. That trajectory changed rapidly with a confluence of negative economic developments.”

The layoffs come amidst an improving crypto market that has seen some good performance and positive sentiment in the last few weeks. However, it seems that the layoffs are part of a larger trend in the crypto industry as other crypto firms have also announced similar decisions.

Huobi announced layoffs at the start of the year while Coinbase also announced layoffs a few days ago. These layoffs are largely attributed to the weak market conditions that have caused many crypto firms to reduce their staff in order to cut costs and stay afloat.

The Cronos (CRO) token price has responded positively to the news, with the token seeing a slight increase in the wake of the announcement. Despite the positive reaction, it is unclear how the layoffs will affect the company in the long run.

It remains to be seen how Crypto.com will cope with the new reality of having fewer staff and resources. For now, the company is hoping that the layoffs will help it remain competitive in the industry and remain profitable despite the difficult economic conditions.

• XRP has been trading around $0.33 for the last three weeks, with the price being tied to crypto sentiment and the case with the US SEC.
• Ripple CEO Brad Garlinghouse has expressed cautiously optimistic views about the crypto industry in 2023, expecting a „breakthrough“ in crypto regulation.
• Garlinghouse believes it is time for regulatory clarity on crypto in the US, and specifically defining „security“ in the digital asset sector.

The last three weeks have seen Ripple’s XRP/USD currency trading around the $0.33 level, with traders and investors being tied to the broader crypto sentiment and the pending case with the US Securities and Exchange Commission (SEC). During this time, bulls have been able to recover quickly after a dip to $0.30 on January 2, yet the upside appears to remain limited.

With the new year now underway, many are looking ahead to 2023 with hopes of a better outlook for the cryptocurrency space. Ripple’s CEO Brad Garlinghouse has shared his own views on the matter, expressing cautious optimism. Taking to Twitter, Garlinghouse believes it is time for the US to define „security“ in the digital asset sector, echoing the sentiments of many in the crypto community.

Garlinghouse expects that 2023 could bring about a „breakthrough“ in crypto regulation, noting that this would be a game-changer for the industry. He has previously expressed his frustration with the US SEC’s case against Ripple, claiming that it has been slow to act on the matter. It remains to be seen if this will be the year that the SEC provides clarity on the matter and what it means for Ripple.

In the meantime, traders and investors will need to remain patient as XRP’s price appears to have stalled for the time being. The current crypto sentiment and Ripple’s status with the SEC will be key factors in determining the direction of the currency, and it is likely that the outcome of the case could be the deciding factor. With Garlinghouse remaining cautiously optimistic, only time will tell what 2023 will bring for XRP.

• Cryptocurrencies remained on edge in the first week of 2023 with Bitcoin remaining in a consolidation phase below $17,000, Ethereum stuck at $1,200 and the total market cap of all cryptocurrencies below $900 billion.
• Crypto price predictions for some of the top trending coins like Tron, Huobi Token, and VIDT show that TRX price crashed hard as concerns of its exposure to Huobi continued and it has moved below all moving averages while oscillators like the MACD and the Relative Strength Index (RSI) drifted downwards.
• The outlook of TRX during the weekend is bearish, with the next key support level to watch being at $0.04.

The cryptocurrency market remained on edge in the first week of the year, with Bitcoin remaining in a consolidation phase below $17,000, Ethereum stuck at $1,200 and the total market cap of all cryptocurrencies below $900 billion. This was due to the hawkish Fed minutes which led to more concerns about the industry. In order to predict the future price of some of the top trending coins like Tron, Huobi Token, and VIDT, we must first look at the current situation of each coin.

Tron (TRX) is a second-generation blockchain project that was started by Justin Sun. It is a blockchain operating system that handles billions of transactions on a daily basis. The network is also associated with other blockchain projects like Sun, JustLend, and JustStables. Also, it has an association with Huobi, BitTorrent Chain, and USDD. TRX price crashed hard as concerns of its exposure to Huobi continued. There are concerns that Huobi could go out of business. As a result, Tron dropped to the lowest level since November 23. It has moved below all moving averages while oscillators like the MACD and the Relative Strength Index (RSI) drifted downwards. Therefore, the outlook of TRX during the weekend is bearish, with the next key support level to watch being at $0.04.

Huobi Token (HT) is the native token of the Huobi Global exchange, which is one of the leading crypto exchanges in the world. As the name implies, HT is used to access premium services on Huobi Global exchange such as discounted trading fees, voting rights, and premium customer support. Huobi Token has been moving sideways in the last few weeks, which is a sign of consolidation. However, the outlook of the coin is bearish due to the concerns surrounding the exchange. The next key support level to watch is at $3.50.

VIDT is a cryptocurrency that is used to power the Virtual Identity verification and authentication protocol. The protocol is designed to provide secure, transparent, and immutable authentication for digital assets such as documents, images, videos, and audio files. In the last few weeks, VIDT has been trading range-bound. However, the outlook of the coin is bearish, with the next key support level to watch being at $0.50.

In conclusion, the crypto price predictions for Tron (TRX), Huobi Token (HT), and VIDT show that the outlook of all three coins is bearish for the weekend. The next key support levels to watch for each coin are $0.04 for TRX, $3.50 for HT and $0.50 for VIDT. Investors should exercise caution when investing in these coins as the market is highly volatile and could experience sudden drops.