"All kinds of things happen in the crypto market, some are positive and some are negative."
Every day there is definitely new news regarding the cryptocurrency market, recently German national authorities seized 50,000 Bitcoin (BTC) as part of a wider investigation into alleged copyright infringement.
Reported by the Saxony police on January 30, 2024, the seizure was connected to two German and Polish nationals who bought a large amount of BTC worth $2.1 billion through the proceeds of pirated material.
The BTC was confiscated after the accused voluntarily transferred the digital asset to an official wallet provided by the police.
Additionally, Coinbase has introduced a commission fee for conversions from USD Coin (USDC) to United States (US) dollars above $75 million, but an exception will be made for members of the Coinbase Liquidity Program Level 1 and Level 2.
Coinbase will assess fees based on a 30-day period that will begin on February 5, 2024 and net conversions are calculated by subtracting the total dollar to USDC conversion volume from the total dollar to USDC conversion volume.
It is also worth noting that spot BTC ETF Fidelity Wise Origin managed to pull in $208 million in daily inflows on January 29, 2024 surpassing $192 million in outflows from Grayscale Bitcoin Trust (GBTC).
It was the second lowest flow for the Grayscale fund besides the $95 million that left the fund on January 11, 2024.
Currently, the price of BTC trading at $42,761 is still recording a 1.73% gain in the last 24 hours with a market cap of $838 billion but still gained 7.27% over the last week.
