With gains of $253 billion in the first three days of 2025, the cryptocurrency market cap surpassed $3.4 trillion on Friday.
Positive expectations around Trump’s impending inauguration have been linked to the recent recovery of the cryptocurrency market.
The market rally was further boosted by the bullish moves of Elon Musk and Michael Saylor.
Breaking News: Michael Saylor's Buy Reveals 8% Recovery in Bitcoin Market
MicroStrategy CEO Michael Saylor announced another $209 million acquisition of Bitcoin. In the immediate aftermath, Bitcoin’s price surged 8%, reaching $98,000 on Friday.
On Thursday, $242 million left Bitcoin exchange funds.
Total Bitcoin liquidations reached $222 million on Friday, with a percentage of the losses attributed to $114 million worth of positions being cancelled by short traders.
Cryptocurrency Market News: As investors move towards layer-one coins, Solana, Cardano, and Ethereum are leading the way.
The bright start to 2025 coincides with increased investor interest in layer-one tokens, as evidenced by the recent volatility in the cryptocurrency market.
Solana (SOL) price recently dropped below $175 in late December 2024, but has since recovered and is now trading at over $216, after rising above $200 on Friday.
Cardano (ADA): Cardano's price rose by more than 30% in early January 2025, breaking the $1 threshold to reach around $1.11.
Ethereum (ETH): Ethereum’s price jump was very muted, with the cryptocurrency now trading at around $3,604, up 4.7% from its previous close.
Daily Chart: Meme Market Soars as Elon Musk Images Gain Momentum
X (formerly Twitter) saw increased volatility during the meme token exchange this week due to Elon Musk's recent post.
Musk edited his profile on December 31, 2024, changing his name to "Kekius Maximus" and adding an armored version of the "Pepe the Frog" joke.
This caused the price of the Kekius Maximus meme token to surge by 900%, according to statistics compiled by Coingecko. Meanwhile, PEPE has surged by 20% and is now one of the top 30 performing crypto assets this week.
Memes like “Kekius Maximus” weren’t the only ones affected by Musk’s file modification.
Notable increases were also recorded by other massive meme tokens such as Dogecoin (DOGE), BONK, and a16z.
This adds a new level of engagement and revenue generation for platform users by allowing them to store NFTs on the blockchain and sell them on popular NFT marketplaces.
By allowing users to modify the properties of each NFT, this innovation enhances the interactivity and personalization of digital gifts on Telegram.
Integrating NFTs puts Telegram in the driving seat of Web3 innovation while also capitalizing on the digital collectibles craze.
Companies are always looking for new ways to improve user experience and increase revenue opportunities; this move could accelerate the adoption of blockchain technology on major platforms.
Binance gets regulatory green light in Brazil
Obtaining regulatory certification in Brazil is a major achievement for Binance, demonstrating the company’s commitment to global compliance and expansion into new markets.
With this green light, Binance can further establish itself in the Brazilian market, which is one of the largest crypto markets in Latin America, making its services more accessible to Brazilian customers and businesses.
Following its success in countries like Indonesia, Kazakhstan, and Argentina, the move is in line with the exchange’s larger goal of setting up shop in places where cryptocurrencies are growing in popularity.
Binance maintains its focus on strict compliance procedures, including Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT), alongside expanding its global reach.
As another example of its proactive stance on regulation, the exchange has created a dedicated division to assist law enforcement in their fight against crypto-related crimes.
MARA CEO Emphasizes Institutional Growth as Bitcoin Expected to Hit $200K by 2025
Regarding the future of Bitcoin, MARA Holdings CEO Fred Thiel is optimistic, predicting that its value could reach $200,000 by 2025.
Using Bitcoin's annualized return rates of 29% to 50% as an example, Thiel emphasized the need for regular investors to have a consistent investment strategy in his recent interview with FOX Business.
As Bitcoin becomes increasingly integrated into traditional financial institutions, he said institutional players play an increasingly important role in supporting market resilience and Bitcoin’s legitimacy.