"Bitcoin Breaks $109K as Trump Ushers in a New Era for Crypto Regulations – Dive into the Weekly Market Highlights!"
$BTC Weekly Market Highlights: Bitcoin Hits New All-Time High Amid Trump’s Inauguration
📅 24 January 2025
🌐 Macro/TradFi:
Bitcoin’s Surge: BTC reached an all-time high of $109K earlier this week, before pulling back following President Donald Trump’s inauguration.
Trump’s Crypto Focus: Signed an executive order to form a Presidential Working Group on Digital Asset Markets, aimed at drafting federal crypto regulations and exploring a strategic digital assets stockpile.
State Crypto Initiatives: Wyoming and Massachusetts joined six other states proposing legislation to allow state investments in Bitcoin.
Regulatory Shifts:
SEC’s Mark Uyeda is the acting chair, launching a crypto task force to develop clear frameworks.
CFTC’s Caroline Pham takes on the role of acting chair, with a history of advocating for digital asset regulation.
Institutional Adoption: Wintermute saw a 240% rise in OTC crypto trading in 2024, with growing interest in memecoins.
MicroStrategy's Move: Acquired 11,000 BTC for $1.1B, averaging $101,191 per Bitcoin.
💻 Crypto Highlights:
L1/L2:
Ethereum's Pectra upgrade targeted for March 2025 promises enhanced efficiency and usability.
Vitalik Buterin announced leadership shifts within the Ethereum Foundation to improve communication and support.
Telegram partnered exclusively with The Open Network (TON), adopting Toncoin for in-app purchases.
DeFi:
Jupiter airdropped 700M JUP tokens to 2M wallets on Solana during its “Jupuary” campaign.
Hyperliquid achieved a record $22B daily trading volume, fueled by memecoin listings linked to Trump and Melania.
Other News:
Binance facilitated $26B in P2P remittances between 2022 and 2024, saving users $1.75B in fees.
Circle acquired Hashnote, positioning USYC as a key yield-bearing collateral in crypto markets.
LINE NEXT launched Telegram-style dApps via LINE Messenger to drive Web3 adoption in Asia.
📚 Latest Binance Research Publications:
Full-Year 2024 & Themes for 2025
Monthly Market Insights - January 2025
Navigating Crypto: Industry Map
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