Bitcoin Bounces Back: Hits $41K in Week-End Rally

• Daily Crypto Market Highlights
• Latest Crypto Prices
• ARK Invest Trading Moves
• Celo Blockchain Developments

Daily Crypto Market Highlights

Significant moves in the cryptocurrency markets are continuously being monitored and put into context. Here are some of the recent happenings in the sector.

Latest Crypto Prices

During the European morning, cryptocurrencies showed an upward trend following a quiet Asian session. Bitcoin$42,260 -0.64% registered a price of $41,250 around 11:45 UTC, marking a gain of approximately 2.6% over the previous 24 hours. Meanwhile, The source 20 Index, which monitors the largest tokens by capitalization, saw an increase of about 1.6%. Solana$104 5.03%'s SOL and Avalanche's AVAX were among the top gainers, posting increases of 3.7% and 5.7% respectively. However, the overall cryptocurrency market is still approximately 14% below its peak levels that were observed right after the approval of spot bitcoin ETFs in the U.S. earlier this month.

ARK Invest Trading Moves

Since January 19, ARK Invest has divested a total of 2,226,191 shares of the ProShares Bitcoin Trust ETF, which were valued at around $42.8 million at Thursday's closing price of $19.22. These shares were part of its Next Generation Internet ETF (ARKW). On the other hand, it acquired 1,563,619 shares in the ARK 21 Shares Bitcoin ETF (ARKB), worth roughly $62.3 million. Previously, ARK had unloaded its shares of the Grayscale Bitcoin Trust (GBTC) late last year, in anticipation of spot bitcoin ETFs being approved in the U.S. The firm planned to switch BITO for a spot bitcoin ETF once the approval was given. Currently, ARKW owns ARKB shares worth $91.4 million, which account for 5.98% of the fund's total value. Its BITO holdings now stand at just 366,128 shares, valued at $7 million, which is equivalent to a 0.46% weighting.

Celo Blockchain Developments

Developers working on the Celo blockchain are considering technical proposals from teams that could provide the necessary technology as the project transitions to become a new layer-2 network on Ethereum$2,315 -2.42%. This search seems to nearing its end. In a recent blog post, cLabs's CEO Tim Moreton, stated that the focus is now shifting to evaluating the non-technical dimensions described in the framework. High-profile blockchain industry groups, including Optimism$3.67 -1.41%, Polygon$0.967 -3.65%, zkSync and Arbitrum, are competing for this mandate. A definitive timeline for a final recommendation has not been provided by Moreton, who simply stated, We're working as fast as we can to get a comprehensive proposal that we feel confident proposing.

Edited by Jonathan Stoker