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Major coins remainedbuoyant on Monday eveningas the global cryptocurrency market cap rose 0.5% to $989.5 billion at 7:48 p.m. EST. Price Performance Of Major Coins Coin 24-hour 7-day Price Bitcoin BTC/USD 1.5% 22.8% $21,153.06 Ethereum ETH/USD 1.3% 18.5% $1,570.81 Dogecoin DOGE/USD -2.65% 9.1% $0.08 Top 24-Hour Gainers (Data via CoinMarketCap) Cryptocurrency 24-Hour % Change (+/-) Price Loopring (LRC) +5.1% $0.30 Quant (QNT) +5.5% $138.73 Frax Share (FXS) +6.9% ??$8.93

See Also: Best Ways To Earn Free Cryptocurrency

Why It Matters: Bitcoin and Ethereum werehigher on Monday as the New-Year rally remained intact. However, the momentum was muted in other risk assets like stocks as investors look ahead to corporate earnings season.

There's certainly an increasing sense of optimism about 2023 as we make our way through the opening month of the year. The economic data has been kind, to say the least, which is not something we were afforded for the vast majority of the year just gone, said Craig Erlam, a senior market analyst at OANDA.

A boost in risk appetite has triggered a surge in bitcoin which spent the final weeks of last year languishing between $16,000 and $17,000. It is up more than 25% since the turn of the year, breaking back above $20,000 this morning in the process, said the analyst in a note seen by Benzinga.

Erlam said it wasnt clear outright if it is a sign of bottoming out or a brief rebound but there are clearly still some very bullish traders out there.

Michal van de Poppe said that Bitcoin is trying to break resistance and might seek a sweep of the $21,600 level. He said eyes will be on the dollar index, which tracks the greenback against six other currencies, in the coming days. At the time of writing, the dollar index was at 102.30.

#Bitcoin trying to break resistance, might actually seek for a sweep of $21.6K.

Eyes still on $DXY coming days. Michal van de Poppe (@CryptoMichNL) January 16, 2023

Glassnode said that Bitcoin has seen greater volumes of Profits realized on-chain than losses for the first time since June.

For the first time since June, #Bitcoin has seen a greater volume of Profits realized on-chain than losses.

During bear cycles, this tends to act as a psychological level where investors sell at, or near break-even, creating resistance.

Full Analysis: https://t.co/4PyCTobCUz pic.twitter.com/L0bBq2323f glassnode (@glassnode) January 16, 2023

Separately, the on-chain analysis firm said that a convincing break above 1.0 for Realized profit/loss ratio, or aSOPR metrics has historically [signaled] a cycle regime shift is underway.

A successful retest and bounce of aSOPR from 1.0 is often observed near cycle turning points, said Glassnode.

A convincing break above 1.0 for Realized P/L Ratio, or aSOPR has historically signalled a cycle regime shift is underway.

A successful retest and bounce of aSOPR from 1.0 is often observed near cycle turning points.

Full Analysis: https://t.co/4PyCTobCUz pic.twitter.com/asBbH7n7Tp glassnode (@glassnode) January 16, 2023

aSOPR or adjusted Output Profit Ratio is a metric that tracks the ratio of spent outputs in profit in a given timeframe.

Santiment said that cryptocurrency traders are behaving like they are seeing a top and are taking the opportunity to profit take while given the chance.

The market intelligence platform said that Bitcoin is seeing the highest profit-take ratio since Feb. 2021, while in the case of Ethereum, it has been the case since Oct. 2021.

Are #crypto markets seeing a top? Traders are behaving like they believe so, taking this opportunity to profit take while given the chance. #Bitcoin is seeing its highest profit tx ratio since Feb, 2021. For #Ethereum, it’s the highest since Oct, 2021. https://t.co/GFrtZtFIYP pic.twitter.com/yqDc2uDPuR Santiment (@santimentfeed) January 16, 2023

Read Next: Gaming Token Rallies 96% In A Week, Outperforming Bitcoin, Ethereum And Dogecoin Gains

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Politics

No job for Tom Tugendhat in Kemi Badenoch’s shadow cabinet as Chris Philp appointed shadow home secretary

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November 5, 2024

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No job for Tom Tugendhat in Kemi Badenoch's shadow cabinet as Chris Philp appointed shadow home secretary

Tom Tugendhat is not serving in Kemi Badenoch’s shadow cabinet, it has been revealed – as the new Tory leader continued her appointments today.

Former Home Office minister Chris Philp has been awarded the job of shadow home secretary, the last of the key posts to be announced.

A Conservative source told Sky News Mr Tugendhat was offered a job and turned it down.

Unveiling a host of appointments today, Ms Badenoch, who was elected leader of the Conservative Party last weekend, confirmed that Ed Argar would be the shadow health secretary, while James Cartlidge will take on the role of shadow defence secretary.

Politics latest: Government drops plans to ban smoking in pub gardens

Former business minister Kevin Hollinrake will shadow Angela Rayner on the housing brief, while Victoria Atkins will take on the role of shadow environment secretary.

Claire Coutinho, who was the energy secretary under Rishi Sunak, will continue in the opposition version of the role.

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Helen Whately has been appointed shadow work and pensions secretary and Andrew Griffith, the former economic secretary to the Treasury, is the new shadow business and trade secretary.

Ms Badenoch, who became Conservative leader on Saturday, started officially appointing her shadow cabinet on Sunday evening.

Yesterday Dame Priti Patel made a comeback to frontline politics after the new Conservative leader appointed her as shadow foreign secretary.

Former shadow work and pensions secretary Mel Stride, who ran in the Tory leadership race and is considered more of a moderate than Ms Badenoch, was also made shadow chancellor.

The move has been interpreted as Ms Badenoch making an effort to unite the party following its bruising election defeat, which saw it reduced to just 121 seats.

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Badenoch: ‘It is time to renew’

Robert Jenrick, who lost out to Ms Badenoch in the Tory leadership race, is the new shadow justice secretary, while Laura Trott, who previously served as chief secretary to the Treasury, was appointed shadow education secretary.

Now the Conservatives are in opposition, the shadow cabinet’s role is to scrutinise the policies and actions of the government and offer alternative policies.

Other roles that have been confirmed today include Stuart Andrew as shadow culture secretary, Gareth Bacon as shadow transport secretary, Andrew Bowie as shadow Scotland secretary, Alex Burghart as shadow Chancellor of the Duchy of Lancaster and Shadow Secretary of State for Northern Ireland and Mims Davies as shadow Wales secretary and shadow minister for women.

Former transport minister Jesse Norman has been appointed as shadow leader of the Commons while Richard Fuller is the new shadow chief secretary to the Treasury and Alan Mak is the new shadow science secretary.

Read more:
Who’s who in Kemi Badenoch’s new shadow cabinet?
University tuition fee rise branded ‘morally wrong’

During the Conservative Party leadership race, Ms Badenoch suggested that all six MPs who ran against her for the top job – Mr Jenrick, Mr Tugendhat, Mr Stride, Ms Patel and James Cleverly – would be offered a job in her shadow cabinet.

Mr Cleverly, who came third in the leadership race, said on Friday he would not be joining Ms Badenoch’s top team.

It is understood Ms Badenoch will appoint the remainder of the team later in the week and on a rolling basis.

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Science

Geodynamic Model Reveals Erosion Process of North China Craton

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November 5, 2024

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Geodynamic Model Reveals Erosion Process of North China Craton

Researchers at the China University of Geosciences in Beijing, led by Professor Shaofeng Liu, have shed light on the mysterious transformation of the North China Craton (NCC). This research, published in Nature Geoscience, presents a breakthrough model that explains the processes behind the craton’s gradual erosion, which began in the Mesozoic era. Using detailed mantle-flow modelling, Liu’s team has traced how tectonic forces deep within the Earth have destabilised this ancient portion of continental crust, challenging long-held assumptions about craton stability.

Reconstructing Ancient Tectonic Forces

In a recent study published in Nature Geoscience, the model suggests subducted beneath the Eurasian plate where the NCC is located. Unlike typical subduction, this plate didn’t immediately sink into the mantle. Instead, it slid horizontally under the NCC’s crust, weakening its foundation in a process known as flat-slab subduction. Using seismic and stratigraphic data, the team reconstructed this tectonic behaviour, revealing how the unusual movement triggered chemical reactions that steadily eroded the NCC’s once-stable base.

Three Stages of Deformation

The research identifies three key stages in the NCC’s deformation. First, as the Izanagi plate began to subduct, it exerted horizontal pressure that altered the composition of the NCC’s foundation. In the second stage, the plate eventually rolled back, sinking deeper and creating a thinning effect on the lithosphere. This rollback phase also caused surface uplift and the formation of rift basins. The final stage saw the development of a “mantle wedge”—a zone of partially melted material—between the sinking plate and the craton, further eroding the base and promoting volcanic activity.

Implications for Geological Understanding

This study provides a more nuanced view of how tectonic and mantle forces interact to erode stable crustal structures over time. Liu’s model offers insight into the NCC’s transformation and makes our understanding of craton stability better, with practical implications for exploring mineral deposits essential to technology. The research paves the way for future studies on the complex life cycles of Earth’s crustal plates, offering a window into ancient geological processes that shape the modern landscape.

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Science

Researchers Develop Cell-Size Wearable Devices to Restore Neuron Function

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November 5, 2024

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Researchers Develop Cell-Size Wearable Devices to Restore Neuron Function

Scientists at the Massachusetts Institute of Technology (MIT) have unveiled groundbreaking cell-wearable devices that could transform the treatment of neurological disorders, including multiple sclerosis (MS). These micro-scale devices, which wrap around individual neurons, mimic the function of natural myelin and restore the electrical signalling disrupted by neurodegenerative diseases. Battery-free and activated by light, the devices offer a new way to monitor and potentially modulate neuron activity within the body.

Synthetic Myelin for Damaged Axons

As per the report by Neuro Science News, these tiny devices are crafted from a soft polymer that rolls and adheres to axons and dendrites when exposed to specific light wavelengths. This unique action allows the device to envelop neuronal structures without damaging delicate cellular components. According to Deblina Sarkar, head of MIT’s Nano-Cybernetic Biotrek Lab, this design is a step towards creating symbiotic neural interfaces that work at a cellular level. “Our technology allows intimate interfaces with neurons, adapting closely to their complex shapes,” Sarkar explains. By wrapping around axons—the neural “wiring” responsible for transmitting electrical impulses—the device can act like synthetic myelin, potentially restoring functions in damaged neurons.

Advances in Microelectronics

To create these wearables, researchers use azobenzene, a light-sensitive material. When exposed to specific light wavelengths, azobenzene films form microtubes that snugly wrap around neuronal structures. Lead author Marta J. I. Airaghi Leccardi, now a Novartis Innovation Fellow, highlights that the team developed a fabrication technique scalable enough to produce thousands of these microdevices without a semiconductor cleanroom. “This advancement means we can potentially produce cell-wearables in large quantities for therapeutic applications,” says Leccardi.

Future Applications and Possibilities

MIT researchers are optimistic about the potential to integrate these devices with advanced sensors, which could open new pathways for non-invasive brain treatments. The devices may one day help clinicians and researchers monitor electrical, optical, and even thermal signals from neurons, offering a deeper understanding of brain function. Flavia Vitale, associate professor at the University of Pennsylvania, called the research “an exciting foundation” for future in vivo applications, where the devices might aid in treating neurodegenerative diseases more effectively.

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