Cryptocurrency Prices Today: Recovery mode on as Avalanche rises 6.55%

The global cryptocurrency market capitalisation reached $1.66 trillion (up 1.68 percent) during the last 24 hours, while the market volume over the last 24 hours hit $80.34 trillion. The decentralised finance (DeFi) cryptocurrency market cap is $13.24 billion, while that of stablecoins is $80.32 trillion. Stablecoins are tied to an asset - such as the dollar or any other fiat currency or gold - to stabilise their price. Read more here.

Etherscan creators launch 'Ethereum Instant Messenger' blockscan chat

Who says Ethereum is only for DeFi and ape NFTs? In a bid to expand the use cases for decentralised tech beyond the usual suspects, Blockscan, the team that created the Etherscan blockchain explorer, has released Blockscan Chat in beta. According to the site's homepage, "Blockscan Chat is a messaging platform for users to simply and instantly message each other, wallet-to-wallet." Read more here.

Kazakhstan powers down bitcoin miners as blackouts roil central Asia

Don't expect Kazakhstan Bitcoin miners to be earning any BTC during the final week of January. The state-run Kazakhstan Electricity Grid Operating Company (KEGOC) confirmed to Bloomberg that electricity has been cut off to Bitcoin and cryptocurrency mining companies from January 24 to 31. That didn't stop Central Asia from plunging into darkness Tuesday, as a disconnected power line left millions in Kazakhstan, Kyrgyzstan, and Uzbekistan without power or water. Read more here.

Elon Musk’s condition for eating McDonald’s Happy Meal on TV

Tesla boss Elon Musk will eat McDonald's Happy Meal on television on one condition: if the American fast-food chain accepts meme-based cryptocurrency Dogecoin. Happy Meal is a kid's meal sold by McDonald's in a red cardboard box with its logo on it. The meal comes with a toy. The Tesla chief executive officer (CEO), who is the richest person in the world, is known for influencing the value of Dogecoin through his social media comments. Read more here.

IMF urges El Salvador to drop Bitcoin as legal tender

The International Monetary Fund wants El Salvador to drop the highly volatile cryptocurrency Bitcoin as legal tender and strictly regulate the electronic wallet the government has pushed adoption of across the country. The global lenders board urged the authorities to narrow the scope of the Bitcoin law by removing Bitcoins legal tender status, the IMF said in a statement on January 25. The adoption of a cryptocurrency as legal tender, however, entails large risks for financial and market integrity, financial stability and consumer protection, the IMF statement said.