On Tuesday (January 7), Bitcoin surged to $102,000, with bulls entering the market before Donald Trump was sworn in as president of the United States. Wall Street-listed whale MicroStrategy made a large purchase of 1,070 Bitcoins, with its founder Saylor expressing his willingness to serve as an advisor to the new government.
MicroStrategy bought 1,070 Bitcoins, Saylor is willing to serve as an advisor to Trump.
CryptoSlate reported that MicroStrategy disclosed in a filing with the SEC on Sunday that it acquired 1,070 Bitcoins for $101 million. This marks the company's ninth consecutive week of large purchases, bringing its total Bitcoin holdings to 447,470 Bitcoins as of December 31, 2024.
The company also pointed out that its Bitcoin strategy heavily relies on debt financing. As of December 31, 2024, the company's debt amounts to $7.274 billion, with annual interest expenses of $35.1 million.
After taking office this month, Trump will immediately push for the passage of the U.S. Bitcoin Strategic Reserve Act, with purchases of 500,000 Bitcoins expected to begin as early as mid-April this year. At the same time, the well-known Ethereum Prague upgrade is also happening in April, and Cream has never been more eager for the upcoming trends in the crypto space.
SOL has achieved a breakthrough and is expected to usher in a second wave of increases. From the price chart, SOL has clearly broken through the previous downtrend line, theoretically indicating a significant price increase. Looking back at the same period last year, SOL began a correction in December, then broke resistance in January, with an overall increase of 2.5 times over two months. Converted to the current price trend, this means it could rise to over $400. Similar to the downtrend of more than half a year last year, SOL will also experience a significant increase after breaking the downtrend line, likely returning to near previous highs, with a current expectation of at least around $260.
Thus, regardless of the trend, SOL is set to welcome a significant upward trend. Cream believes that the possibility of rising to over $400 is greater! As mentioned earlier, there will be positive news regarding Bitcoin reserves and Ethereum upgrades in April, and there may even be a SOL ETF, all of which are very positive factors.
On-chain data shows that Solana's trading volume surged by 42% in the past week, far exceeding other public chains, which may be related to the recent boom in the AI sector. In any case, Solana's trading volume currently ranks among the top in the network, making it one of the largest public chains by trading volume. It is worth noting that a significant portion of this volume is driven by robots engaged in quantitative arbitrage, and the actual effective trading volume still falls short compared to Ethereum. Solana's total locked value (TVL) is 3 billion, which is still less than Ethereum's 12.7 billion, but it firmly holds second place among all public chains. Overall, I believe the future development of Solana is worth looking forward to.
Meanwhile, Sui's performance has also been quite impressive, with its price repeatedly breaking historical highs. Its on-chain data is equally noteworthy, currently ranking fourth in the entire network in terms of TVL and trading volume. However, it is important to note that Sui's total market capitalization has reached 50 billion, nearly half that of Solana and BNB, yet its TVL and trading volume are significantly below half of those two public chains. Therefore, based on data analysis, Sui's price seems somewhat overvalued.
When discussing the price of Sui, one cannot help but mention its initial public offering price. The initial public offering price of Sui was only $0.1, and it immediately surged more than tenfold after the token launch. If held since then, the return has exceeded 50 times. If you are on the whitelist of its foundation, the entry price is even lower, only $0.03, and it has now risen 180 times. Therefore, for these institutional coins, it’s best to enter through whitelist presales or foundations before listing, as obtaining returns of 20 to 30 times is relatively easy.
Marvin
Vitalik dumped a meme project on Ethereum—Marvin, the Musk concept token, half an hour ago.
Vitalik sold 4.6 billion tokens of the meme project Marvin, the Musk concept token, worth 70,000 USD. Currently, Vitalik's address still holds 5 billion Marvin tokens. Having missed out on Shiba and Neiro, should we also miss the strongest community-promoted Marvin? The rise of Shiba and Neiro began with Vitalik's sell-off...
