As usual around lunchtime, we look at the live Bitcoin price and the prices of the top 25 crypto. We also look at how a crypto currency breaks down and leaves distraught investors and the impact of the crypto crisis on DeFi. Finally, we look at the plans McDonalds may have in crypto.
We start with the live Bitcoin price and the prices of the top 25 crypto.
Live Bitcoin price rises, also top 25 crypto positive
At the time of writing, the live Bitcoin price is EUR 33,622.31 ($37,940.98). This is 4.49% higher than yesterday and also higher than our crypto lunch published slightly earlier yesterday.
Sentiment among the top 25 crypto is also positive. Besides the stable coins, there are some coins with a negative result today, but Cosmos (ATOM) is the strongest falling coin at -1.36%, so that is not too bad. The biggest gain of the day so far is for Near (NEAR), which is up 13.15%. On the Tradeincrypto.com site you can analyze all live crypto prices.
Iqoniq in liquidation, Iqoniq token (IQONIQ) worthless
Iqoniq focused on commercializing fan communities with its own Iconiq token (IQONIQ). The Monaco-based company became known for sponsorship deals with soccer clubs such as Real Sociedad and Crystal Palace, as well as McLaren’s Formula One team. Due to missed payments, the soccer clubs have now frozen their sponsorships and are taking legal action. The company is also now in a state of bankruptcy.
Funnily enough, CEO Kazim Atilla reacts in a striking way. While acknowledging that the tokens are now worthless, he denies bankruptcy. He states that the company has fallen on hard times due to the Corona crisis and expects to continue to launch outside of Malta. He also expects the price of the tokens to rise again. Meanwhile, the Football Supporter’s Association (FSA) is concerned about the entrance of crypto companies into the sponsorship of English clubs and asks for regulation. To be continued, then.
This is the impact of the crypto crisis on DeFi coins
We can now see that the price declines that swept through the crypto market in recent times have left their mark on various types of crypto coins. One of the sectors that took the brunt of it is the DeFi sector. Trackers DappRadar and Dune Analytics calculated that $300 million has now been liquidated from DeFi protocols in the last week. Also, the total value has dropped 20% since the beginning of January. It is expected that, if the cryptocurrency crisis is prolonged (people are talking about a year) as much as 80% of DeFi projects could disappear. Only the strongest 20% will then remain. In concrete terms, we see the market dropping from 150 projects today to 30 in a year’s time. The future will tell which ones, but the fact is that there are now a number of DeFi projects in the top 25 crypto markets. We should then think of Cardano (ADA), Polygon (MATIC), Solana (SOL), Aave and (AAVE).
Is McDonalds stepping into crypto?
Elon Musk once again made a statement in response to the McDonald’s memes earlier this week. He tweeted that he would eat a Happy Meal live on TV if McDonald’s accepted Dogecoin (DOGE) as a form of payment.
The response from the hamburger giant was quick and clear
Twitter won’t load because you didn’t give permission.
only if @tesla accepts grimacecoin https://t.co/CQrmAFelHR pic.twitter.com/to9HmYJhej
– McDonald’s (@McDonalds) January 25, 2022
The striking thing is that until the commercial, there was no Grimace coin. However, a character named ‘Grimace’ has been used in old commercials, where we incidentally spot another familiar one.
Immediately after the answer of McDonald’s was announced they launched a number of Grimace coins, these have nothing to do with McDonald’s, despite the price increase of 285.641% this morning. Still, it is striking that McDonald’s is explicitly seeking to connect with the crypto community and thus apparently already has a coin image circulating. Would McDonald’s get into crypto? We will continue to follow it.
Staying up to date on the latest stock price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly price forecast might be a reading tip.
Note: We never give financial advice, so you can’t interpret our contributions that way either. Always do your own research and decide rationally if, when, what and how much you want to invest in.