With a $253 billion gain in the first three days of 2025, the value of the cryptocurrency market surpassed $3.4 trillion on Friday.
Positive expectations around Trump's impending inauguration have been associated with the cryptocurrency market's recent recovery.
The market rise was further boosted by Elon Musk's and Michael Saylor's bullish moves.
Breaking News: Michael Saylor's Buying Spree Revealed an 8% Recovery in the Bitcoin Market
Another acquisition of $209 million worth of Bitcoin was disclosed by Michael Saylor, CEO of Microstrategy. In the time after, Bitcoin's price increased by 8%, reaching $98,000 on Friday.
On Thursday, $242 million left bitcoin exchange-traded funds.
Total Bitcoin liquidations reached $222 million on Friday, with x% of the losses attributable to the $114 million positions canceled by short traders.
Cryptocurrency market news: As investors gravitate towards L1 currencies, Solana, Cardano, and Ethereum take center stage.
The bright start to 2025 has coincided with rising investor interest in Layer 1 tokens, as seen by the recent fluctuations in the crypto market.
The price of Solana (SOL) recently dropped below $175 in late December 2024, but it has since recovered and is now trading at over $216, having risen beyond $200 on Friday.
Digital currency Cardano (ADA): The price of Cardano increased by more than 30% in early January 2025, breaking over the $1 threshold and hitting about $1.11.
Ethereum (ETH): The price surge for Ethereum has been very muted, with the cryptocurrency now trading at about $3,604, up 4.7% from its previous close.
Daily chart: Market for memecoins surges as Elon Musk profile images gain traction
X (formerly Twitter) has seen increased volatility throughout memecoin exchanges this week due to Elon Musk's recent involvement.
Musk modified his profile on December 31, 2024, changing his name to "Kekius Maximus" and adding a gladiator-armored version of PEPE's "Pepe the Frog" joke.
This caused the price of the "Kekius Maximus" memecoin to skyrocket by 900 percent, according to statistics compiled by Coingecko. PEPE, meantime, rose 20 percent and is now one of the top 30 crypto assets by performance this week.
Memecoins like "Kekius Maximus" weren't the only ones affected by Musk's profile modification.
Notable increases were also recorded by other mega cap memecoins like as Dogecoin (DOGE), BONK, and a16z.
This adds a new level of interaction and revenue generation for the platform's users by allowing them to store NFTs on a blockchain and sell them on popular NFT markets.
By allowing users to modify attributes for each NFT, this innovation enhances the engagement and personalization of digital gifts on Telegram.
Incorporating NFTs puts Telegram in the driver's seat of Web3 innovation while also capitalizing on the craze for digital collectibles.
Companies are always looking for new methods to improve the user experience and increase revenue possibilities; this step might hasten the adoption of blockchain technology on mainstream platforms.
Binance gets Brazilian regulatory green light
Securing regulatory certification in Brazil is a major milestone for Binance, demonstrating the company's dedication to global compliance and expanding into new markets.
With this green light, Binance can further establish itself in the Brazilian market, which is one of the biggest cryptocurrency marketplaces in Latin America, making its services more accessible to Brazilian customers and companies.
After finding success in countries like Indonesia, Kazakhstan, and Argentina, this move is in line with the exchange's larger aim to set up shop in locations where cryptocurrency is becoming more popular.
Binance maintains its emphasis on strong compliance procedures, including as anti-money laundering (AML) and counter-terrorism financing (CFT) regulations, alongside its growing worldwide reach.
As another example of its forward-thinking stance on regulation, the exchange has established a dedicated section to aid law enforcement in their fight against crypto-related crimes.
MARA CEO emphasizes institutional growth with $200K Bitcoin projection by 2025
As far as the future of Bitcoin is concerned, MARA Holdings CEO Fred Thiel is bullish, forecasting that its value might reach $200,000 by 2025.
Using Bitcoin's 29% to 50% yearly gain rates as an example, Thiel stressed the need for ordinary investors to have consistent investing strategy in a recent interview with FOX Business.
As Bitcoin becomes more integrated into conventional financial institutions, he said, institutional actors are playing an increasingly important role in supporting its market resilience and legitimacy.
Thiel went on to say that a more crypto-friendly U.S. government may encourage Bitcoin's expansion if regulatory changes were to improve.
Furthermore, he elaborated on MARA's plans to increase its Bitcoin assets and mining activities, reiterating the firm's dedication to capitalizing on Bitcoin's future possibilities.
All things considered, Bitcoin is in a position to be a game-changing asset class that may provide huge returns in the years to come, says Thiel.
The process of repaying FTX's $16 billion in debt has begun
After more than two years after the fall of the exchange in November 2022, the FTX estate has formally begun its repayment schedule.
Creditors in the convenience class who have claims below $50,000 will be given priority and will get $1.2 billion, or 119% of their allowable claims, within 60 days.
A fund of $10.5 billion will be awarded over time for larger claims exceeding $50,000.
BitGo and Kraken will be the platforms that qualified consumers may use to get their first rewards.
Creditors must comply with the court's requirements for Know Your Customer (KYC) verification, tax forms, and distribution platform onboarding in order to be eligible for the first payments.
Despite potential limits on reinvestment imposed on certain claimants and businesses, analysts estimate that about $2.4 billion might re-enter the cryptocurrency market as a result of these repayments.
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