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- 🚨 Breaking Web3 News: Crypto Trends You Need to Watch Right Now!
🚨 Breaking Web3 News: Crypto Trends You Need to Watch Right Now!
CoinGape Media
January 24, 2025
News
US President Donald Trump has signed an executive order with a focus on developing a national digital asset stockpile. The executive order also created a crypto working group that will be responsible for developing this stockpile.
The US Securities and Exchange Commission (SEC) has removed the much-debated and unpopular crypto accounting guidance Staff Accounting Bulletin No. 121 (SAB 121) only a few days after the exit of Gary Gensler as the SEC Chair.
US President Donald Trump’s highly anticipated crypto-focused executive order has triggered a significant buzz in the community. The order outlines a broader crypto strategy, with a key focus on promoting dollar-backed stablecoins. However, the European Central Bank (ECB) proposed a digital euro to counter the President’s stablecoin plan.
Markets
The crypto prices today have raised optimistic speculations among traders and investors globally, embarking on an upward trajectory. While Bitcoin (BTC) price traded above the $105K level on Friday, leading altcoins have also shown pumping actions. Notably, Ethereum (ETH) and Solana (SOL) traded dominantly in the green zone, whereas XRP and meme coins like DOGE also mimicked a bullish movement. Simultaneously, the global crypto market cap witnessed a 4% jump over the past day, reaching $3.64 trillion as of press time. Further, the total market volume witnessed a notable 40% uptick from yesterday, reaching $202.98 billion.
Bitcoin’s price trades at $105,045.0 on 2 PM as of January 24. But will BTC reach $120,000 in the next seven days of January 2025 as US President Donald Trump signs an executive order to stockpile Bitcoin and other crypto assets?
Ethereum price is on the rise again and trades around $3,391.2 as of 3 PM on January 24, 2025, but a new proposal from Vitalik Buterin could significantly impact its future trajectory. The co-founder’s recent proposal for accelerating Ethereum’s scalability — targeting 100,000 transactions per second (TPS) — has the ability to potentially reshape ETH’s tokenomics. This vision proposes scaling upgrades and Ethereum’s burn mechanism, which could remove 713,000 ETH annually from circulation, according to Buterin’s estimates. Let’s explore how this could impact Ethereum’s future and short-term impact on the price.
The year 2024 was transformative for the Web3 ecosystem, witnessing rapid advancements, significant market shifts, and evolving regulatory landscapes. This analysis highlights the key crypto trends that have defined the year, supported by relevant data and insights, providing early to medium-scale crypto investors with a comprehensive understanding of what has transpired in the Web3 space.