Daily Market Update (January 5, 2025, 8:00 PM)
ChainDD reported on January 5 that the comprehensive DD index and CoinMarketCap quotes are:
BTC is at $98,277.49, up about 0.24% in the last 24 hours;
ETH is at $3,633.18, up about 1.26% in the last 24 hours;
BNB is at $713.52, down about 0.71% in the last 24 hours;
DOGE is at $0.3909, up about 1.27% in the last 24 hours;
DOT is at $7.66, down about 1.21% in the last 24 hours.
Dynamic
Robinhood executive: We are working with Paxos to create an open network for stablecoins.
In the U.S., several companies are entering the stablecoin space. For example, Visa has launched a tokenized asset platform that allows banks to issue stablecoins. Robinhood Crypto General Manager Johann Kerbrat revealed that the company is partnering with Paxos to create an open network for stablecoins, emphasizing that stablecoins can bring significant value to its platform.
Fintech company Revolut is exploring the possibility of launching its own stablecoin, while Stripe has acquired Bridge, a fintech platform specializing in stablecoin trading.
CMT Digital investment partner Augustus Ilag stated: 'The issuance of stablecoins is now an attractive business model.' Rob Hadick, a general partner at the digital asset venture firm Dragonfly, emphasized the growing demand for stablecoins from large companies operating in underserved payment areas.
The success of companies like Circle and Tether has prompted many businesses to consider launching their own stablecoins as a way to provide new revenue streams and diversify their products.
Aave Chan founder: The Ethereum Foundation should immediately fire 80% of non-developers and current leaders.
Aave contributor team Aave Chan Initiative (ACI) founder Marc Zeller posted on X that to address the Ethereum Foundation's issues, the following actions are needed:
1. Immediately fire 80% of non-developers and the current leadership;
2. Convert the remaining ETH of the foundation into a market-tested LST portfolio;
3. Cut 95% of the current subsidies, especially initiatives like 'running nodes in Vorkuta';
4. Do not sell ETH, but use LST to borrow stablecoins through Sky/Aave while reducing operational costs.
5. Hand over the X account to @JimmyRagosa, @ethereumintern_, and @antiprosynth, who post 20+ updates daily to promote the Ethereum ecosystem.
Ripple CEO: The 119th Congress of the United States will be the most crypto-friendly Congress in history.
Ripple CEO Brad Garlinghouse posted on X: 'Today, we welcome the 119th Congress in the U.S. - the most crypto-friendly Congress in history. The journey has just begun, but you can't deny that the whole industry is vibrant and excited. Let's get to work.'
A California asset management company with $300 million in assets has purchased shares in the Bitwise Bitcoin ETF.
Bitwise Chief Investment Officer Matt Hougan posted on X: 'A California wealth management firm with $300 million in assets recently emailed us, stating that it has invested in Bitcoin for 63 clients through our ETF. This makes me very happy. Wealth management firms will help millions of investors participate in opportunities in this field. I am honored to support them.'
