El Salvador votes pro-Bitcoin 📝🗳
Bukele is back. El Salvador's Bitcoin journey continues. Bitcoin is moving and Solana's address surge. Binance's sensitive data leaks and Google's ImageFX makes an entry.
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Nayib Bukele and his Nueva Ideas party are killing it in the polls.
He is all set for another five years in office.
Exit polls just after Sunday's vote show him leading the pack by a huge margin - 87%
What's good about it for crypto folks?
The guy is a huge Bitcoin fan.
During his first term, Bukele made El Salvador the first country to embrace bitcoin as legal tender. He didn't stop there – he also rolled out the Chivo crypto wallet and got El Salvador to start stacking bitcoin as an investment.
The Bitcoin move got thumbs up from crypto fans but raised eyebrows at places like the International Monetary Foundation (IMF).
Up next for El Salvador? Launching those much-talked-about "Volcano bonds" backed by bitcoin, aiming to kickstart a renewable energy-powered BTC mining scene.
Crypto friendly moves in El-Salvador👇
Tough on Gangs, But at What Cost? While Bukele's been cracking down on gangs, Amnesty International is raising the alarm about human rights concerns, suggesting his approach might be a bit too heavy-handed.
There's a bit of a constitutional debate going on. Some argue that Bukele running again bends the rules, which say no back-to-back presidential terms.
Anyway, the country is celebrating👇
In the Numbers 🔢
Moved on-chain in January 2024, marking the highest Bitcoin transaction volume since September 2022.
This surge contrasts sharply with 2023, where Bitcoin's monthly volume didn't hit the $1 trillion mark until December, and comes after a period of low active supply.
Reasons? as always, the ETF approval and upcoming Bitcoin halving.
Read this: What is Bitcoin Halving?🌛🌜
Read this: Why Bitcoin ETFs a big deal? 🤔🤷♀️
Long-term Bitcoin holders are showing a preference to hold onto their coins, navigating market fluctuations without significant sell-offs.
Despite the volume increase, the number of transactions on the Bitcoin network actually saw a slight decline from December 2023 to January 2024 = larger transactions might be driving the volume surge.
Solana's all-time high 🟦
Solana saw a record-breaking surge in new addresses this January.
Hit nearly 12 million.
18% increase from December.
Beats the previous all-time high from May 2022.
What is this about? The spike could be thanks to people jumping into action on native decentralised exchanges (DEXs) and getting in on memecoins like Wen and Bonk.
Jupiter's Impact: The launch of Jupiter's native token at the end of January likely played a big part in the boost of new addresses.
BONK Coin Gets Serious
BONK, the meme coin that lightened the mood on Solana after FTX's crash, is stepping into the venture capital scene.
The Bonk DAO just decided to drop $500,000 into a startup fund aiming to boost Solana-based projects.
Read here: Jupiter boosts Solana 🚀✨
Bitcoin ETFs may be popular, but they do not provide the true utility of Bitcoin?👇
Binance data leak 🟨
Sensitive data from Binance, including code and internal passwords, was found on GitHub, hanging out in the open for anyone to peek at for several months.
Leak Details: An account named "Termf" dropped the info bomb, showcasing not just any old code, but stuff that dives into Binance's security practices, like passwords and how they handle multi-factor authentication (MFA). Plus, there were passwords tagged "prod," hinting they were part of Binance's live operations, not just test stuff.
Binance got wind of the situation and swooped in with a copyright takedown to clean up the mess last week, confirming the leaked code belonged to them.
This cleanup operation kicked off after 404 Media flagged the issue to Binance back on January 5.
Google's AI image generator 🔍
Google just pulled a fast one on us with a hidden gem in their AI arsenal named ImageFX.
Google's answer to the AI image generator craze.
What do we know?
Free Access: Unlike Dall-E 3 and MidJourney's subscription models, ImageFX is completely free.
Photorealism at Its Best: Powered by DeepMind's Imagen 2, it delivers stunningly realistic images.
Geographical Limitations: Currently available in the U.S, Kenya, New Zealand, and Australia, and only in English.
Unique Features: Offers seed control for precise creativity and suggestions for enhancing prompts.
Limitations: Only generates square images and lacks image editing features like its competitors.
The Surfer 🏄
Hong Kong reminded crypto investors to check the regulatory status of trading platforms as the deadline for license applications approaches.
South Korea plans to continue discussions with the SEC regarding spot bitcoin exchange-traded funds.
Crypto lender Genesis has filed a motion seeking approval to sell over $1.6 billion worth of crypto.
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The Token Dispatch is a daily newsletter that takes you on a 4-5 minute drive through the wild west of the Crypto World. Daily in your email inbox @13:00 GMT. Almost always.