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At the WEF meeting in Davos, a crypto panel including Ripple CEO Brad Garlinghouse and Grayscale CEO Michael Sonnenshein discussed the need for regulatory clarity in the cryptocurrency industry. They expressed optimism for the industry's future, citing the approval of Spot Bitcoin ETFs as a significant milestone. The panel rejected the value of meme coins like Dogecoin and emphasized the importance of CBDCs and regulated stablecoins. The SEC was criticized for its slow response to crypto regulation, and the panel called for harmonization of regulations to prevent arbitrage.

Portfolio Pulse from Ivan Crnogatić

January 18, 2024 | 7:07 pm

SHIBUSD

Shiba Inu (CRYPTO: SHIB) has experienced a 3.93% price drop over the last 24 hours, continuing a weekly decline of 11%. The trading volume has decreased by 68%, while the circulating supply has increased by 0.32%, resulting in a current market cap ranking of #18 at $5.39 billion.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 7:03 pm

ADAUSD

Cardano's (CRYPTO: ADA) price has decreased by 3.78% over the past 24 hours to $0.51, marking a continuation of a downward trend over the past week with a 13.0% drop from $0.58. The trading volume has decreased by 79.0%, while the circulating supply has slightly increased. Cardano's market cap ranking is currently #9 at $17.84 billion.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 7:02 pm

DOTUSD

Polkadot's (CRYPTO: DOT) price has decreased by 4.9% in the last 24 hours, reaching $6.98, continuing a negative trend with a 15.0% loss over the past week. Trading volume has decreased by 70.0%, while the circulating supply has increased by 0.51%, resulting in a current market cap ranking of #13 at $9.21 billion.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 7:02 pm

XRPUSD

XRP (CRYPTO: XRP) has seen a 3.03% price drop in the last 24 hours, continuing a negative trend with a 9.0% decrease over the past week. The trading volume has fallen by 64.0%, while the circulating supply has risen by 0.54% to over 54.34 billion, which is 54.34% of its max supply. XRP's market cap is currently ranked #6 at $29.98 billion.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 7:01 pm

BTCUSD

The Bitcoin halving event in April 2024 is expected to reduce miner rewards from 6.25 to 3.125 BTC, potentially impacting Bitcoin's price. Analysts predict a 'blow off top' in 2025 and a possible $20 trillion market cap for crypto. However, historical patterns suggest Bitcoin could dip to $34,000 by the next halving. The community is focused on the halving's effect on prices, with some seeing current market consolidation as a prelude to a bull market.

Portfolio Pulse from Khyathi Dalal

January 18, 2024 | 7:00 pm

AVAXUSD

Avalanche (CRYPTO: AVAX) has seen a 6.11% price drop over the past 24 hours, continuing a weekly decline of 14%. The trading volume has decreased by 67%, while the circulating supply increased by 0.33%. Avalanche's market cap ranking is currently #10, valued at $12.36 billion.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 7:00 pm

IONS

Ionis Pharmaceuticals (NASDAQ:IONS) has received mixed evaluations from 8 analysts over the last three months, with ratings ranging from bullish to bearish. The average 12-month price target is $52.75, up 21.74% from the previous $43.33, with a high estimate of $62.00 and a low of $28.00. Analysts from firms including Piper Sandler, B of A Securities, Needham, Stifel, Goldman Sachs, and Morgan Stanley have updated their ratings and price targets, reflecting changes in market conditions and company performance. Ionis Pharmaceuticals specializes in antisense technology and has launched several drugs, including Spinraza and Qalsody. Despite a strong market position indicated by its market capitalization, the company has seen a -9.74% decline in revenue growth and has challenges with net margin, ROE, ROA, and a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 6:00 pm

ETHUSD

On Wednesday, 7,635.20 Ether (ETH) valued at $18.85 million was burned due to the EIP-1159 upgrade implemented on the Ethereum blockchain, which introduced a variable base fee for transactions that is permanently removed from circulation. This has led to a net annualized issuance rate of -8.51% for Ether, indicating a deflationary trend, especially with the upcoming Ethereum 2.0 upgrade expected to further reduce the issuance rate.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 6:00 pm

META

NVDA

Mark Zuckerberg, CEO of Meta, announced that by the end of the year, Meta will possess approximately 350,000 Nvidia H100 GPUs and around 600,000 H100 equivalent GPUs, including other models.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 5:56 pm