The cryptocurrency sector’s valuation exceeded $3.4 trillion on Friday, an increase of $253 billion in the first three days of 2025. The recovery in the cryptocurrency market is associated with positive speculation regarding President Trump’s upcoming inauguration. Bullish moves from Michael Saylor and Elon Musk also fueled the market’s rally.
Bitcoin market latest information: 8% recovery due to Michael Saylor’s buying spree
Microstrategy CEO Michael Saylor announced the purchase of $209 million worth of new BTC. Since then, Bitcoin prices have risen 8%, reaching the $98,000 level on Friday.
On Thursday, Bitcoin ETFs recorded $242 million in outflows. Total Bitcoin liquidations on Friday reached $222 million, with short traders’ closed positions of $114 million accounting for x percent of the losses.
Altcoin market update: Solana, Cardano and Ethereum dominate as investors lean towards L1 tokens
Recent developments in the cryptocurrency market highlight growing investor interest in layer 1 tokens amid a positive start to 2025.
Solana (SOL): After briefly falling to $175 in late December 2024, Solana rebounded above $200 on Friday and is currently trading around $216. Cardano (ADA): Cardano’s price surged more than 30% in early January 2025, surpassing the $1 mark and reaching around $1.11. Ethereum (ETH): Ethereum’s price growth has been relatively modest, currently trading around $3,604, up 4.7% from its previous close. .
Chart of the Day: Elon Musk’s profile photo causes meme coin market rally
Elon Musk’s recent activity on X (formerly Twitter) has once again caused volatility across the meme coin market this week.
On December 31, 2024, Musk changed his profile name to “Kekius Maximus” and updated his avatar to feature the “Pepe the Frog” meme of PEPE in gladiator armor.
Meme Coin Sector Performance | Source: Coin Gecko
This triggered a dramatic 900% rise in the price of the “Kekius Maximus” meme coin, and PEPE rose 20%, according to Coingecko data, making the crypto asset one of the top 30 best-performing assets this week. surfaced inside.
The impact of Musk’s profile update extended beyond the “Kekius Maximus” meme coin.
Other mega-cap meme coins such as Dogecoin (DOGE), BONK, and a16z all experienced notable gains as well.
Latest crypto news:
Telegram launches NFT conversion of digital gifts
Telegram has announced a breakthrough feature that allows users to convert digital gifts into non-fungible tokens (NFTs).
These NFTs can be stored on the blockchain and traded on popular NFT marketplaces, providing a new layer of interactivity and monetization for the platform’s user base.
This feature allows Telegram users to customize the characteristics of each NFT to add uniqueness and rarity, making digital gifts more attractive and personalized.
By integrating NFTs, Telegram not only capitalizes on the popularity of digital collectibles, but also positions itself at the forefront of Web3 innovation.
This move is likely to accelerate the adoption of blockchain technology within mainstream platforms as companies seek innovative ways to improve user experience and expand monetization opportunities.
Binance receives regulatory approval in Brazil
Binance has achieved a significant milestone by securing regulatory approval in Brazil and strengthening its global compliance and market expansion efforts.
This approval allows Binance to further solidify its presence in one of Latin America’s largest crypto markets, increasing accessibility for users and businesses in Brazil.
The move is in line with the exchange’s broader strategy to establish operations in regions where cryptocurrency adoption is growing, following similar successes in Argentina, India, Kazakhstan and Indonesia.
In addition to expanding its global footprint, Binance continues to emphasize strong compliance measures such as anti-money laundering (AML) and countering the financing of terrorism (CFT) protocols.
The exchange has also created a specialized unit to assist law enforcement in combating crypto-related crimes, demonstrating an aggressive approach to regulation.
MARA CEO predicts $200,000 Bitcoin by 2025, highlights institutional growth
MARA Holdings CEO Fred Thiel expressed confidence in Bitcoin’s long-term growth trajectory, predicting it could reach $200,000 by 2025.
In a recent interview with FOX Business, Thiel highlighted the importance of a consistent investment strategy for retail investors, citing Bitcoin’s historical annual appreciation rate of 29% to 50%.
He also highlighted the growing role of institutional investors in strengthening Bitcoin’s market resilience and legitimacy, noting its increasing integration into the traditional financial system.
Thiel further noted that favorable regulatory developments under a potentially more crypto-friendly US administration could boost Bitcoin’s growth.
He also outlined MARA’s strategic efforts to expand its Bitcoin holdings and mining operations, reinforcing the company’s commitment to capitalizing on Bitcoin’s long-term potential.
According to Thiel, these factors taken together position Bitcoin as a transformative asset class that can deliver significant returns in the coming years.
FTX begins repayment process to $16 billion creditors
More than two years have passed since the exchange collapsed in November 2022, and FTX Estate has officially begun a repayment plan.
Convenience class creditors with claims of less than $50,000 will receive priority and will receive $1.2 billion within 60 days, representing 119% of their allowed claims.
Large claims over $50,000 will be distributed over time from a $10.5 billion pool.
BitGo and Kraken have been designated as platforms to facilitate initial payments to eligible customers.
According to the court ruling, creditors will need to complete KYC verification, submit tax forms and participate in the distribution platform to be eligible for the first payment.
Analysts estimate that approximately $2.4 billion from these repayments could re-enter the crypto market, although restrictions on certain claimants and entities could limit reinvestment. be.
This development is an important step towards resolving FTX’s financial obligations and ending the largest cryptocurrency company bankruptcy in history.
