What Happened in Crypto Today: 6 January Latest Crypto News

What Happened in Crypto Today: Key Updates for 6 January Crypto News

Phoenix Group Expands with 50MW Crypto Mining in US

Phoenix Group, a top Bitcoin miner listed on the Abu Dhabi Securities Exchange, launched a 50MW cryptocurrency mining facility in North Dakota, adding over 2.7 exahashes to its global capacity. CEO Reza Nedjatian emphasized the US as a key market. In August 2024, the company partnered with Tether to launch a UAE dirham-pegged stablecoin. Crypto mining, akin to mining precious metals, involves solving blockchain puzzles for rewards, supporting blockchain security via decentralized validation.

Bitcoin Spot ETFs Gain $245M, Ethereum Sees $38M Outflow

From December 30 to January 3 (EST), Bitcoin spot ETFs saw a $245M net inflow, led by Fidelity's FBTC ($275M, total $12.11B). ARKB followed with $202M inflow (total $2.69B). GBTC recorded a $167M outflow (total $21.52B). Ethereum spot ETFs experienced a $38.19M net outflow, with Bitwise ETHW losing $56.11M. Total Bitcoin spot ETF net assets stand at $111.46B, 5.72% of Bitcoin’s market cap, with cumulative inflows of $35.91B.

Dogen Crypto: A Rising Star Outshining Cardano (ADA)

Dogen Crypto is gaining attention as a revolutionary memecoin, blending cultural appeal with utility, and is projected to deliver 50,000% returns in 2025. While Cardano (ADA) maintains its prominence with robust technology, scalability, and smart contract advancements, DOGEN stands out with its viral appeal, dynamic community, and growth potential. Similar to Dogecoin and Shiba Inu, DOGEN is captivating the crypto market, highlighting diverse opportunities and challenging established tokens like Cardano with its explosive potential.

Shiba Inu TREAT Token Launch Set for January 14, 2025

Shiba Inu's TREAT token is set to launch on January 14, 2025, sparking enthusiasm in the crypto market. Announced by marketing lead Lucie, the launch boosts optimism around SHIB’s ecosystem and price. Shytoshi Kusama warned of potential scams, urging caution during trading. Meanwhile, SHIB Futures Open Interest rose by 3%, reflecting growing investor confidence despite market fluctuations. This follows the recent launch of "SHIB: The Metaverse," further cementing Shiba Inu’s evolving presence in the crypto space.

Bitgert Price Dip, Exchange Upgrades & Bull Run Ahead?

Bitgert ($BRISE), originally on the BNB Chain, now operates its own blockchain, excelling in ultra-fast, low-cost transactions. Currently trading at $0.0000001237 with a $48.87M market cap, its 24-hour volume rose 25.06% to $53.6M. Bitgert Exchange features Lite and Advanced Modes for diverse traders. Analysts predict $BRISE could reach $0.0000004000 by 2025. Key drivers include market sentiment, ecosystem innovation, and regulations. With strategic growth, a potential bull run could surprise investors. $BRISE remains one to watch.