Bitcoin and Crypto Market Roundup, January 5, 2021

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While traditional markets were sleeping, Bitcoin welcomed the new year with a record-breaking rally. The leading crypto hit a series of fresh highs, tagging prices just below $35K on the twelfth anniversary of the first block mining. The soaring prices appear to be driven by institutional buying. $1.2 billion worth of Bitcoin was discovered flowing out of Coinbase late last week, suggesting deep-pocketed traders have been buying for long-term investment. Meanwhile, the altcoin rankings have been rearranged. As Ethereum has rocketed past $1K, Litecoin has flippened XRP to become the fourth biggest crypto by market cap. This follows yet more downside for XRP, which has dropped 4% this week as platforms including eToro’s US operation have delisted the coin in light of the SEC’s lawsuit. This Week’s Highlights Ethereum gets a four figure price tag Okung starts Bitcoin salary ball rolling Ethereum gets a four figure price tag While Bitcoin…

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