🚨 Breaking Web3 News: Must-Read Crypto & Blockchain Updates for Today!

Author

CoinGape Media
January 06, 2025

News

The Ripple SEC case is in debate again as the deadline for the U.S. Securities and Exchange Commission (SEC) to file its initial brief approaches. A former US SEC lawyer said the parties will likely settle as ruled earlier by Judge Analisa Torres. The incoming Donald Trump administration and SEC Chair Paul Atkins may decide to not pursue the appeal in XRP lawsuit.

MicroStrategy has announced another Bitcoin purchase, making it the company’s ninth BTC acquisition in as many weeks. The software company now holds 447,470 BTC, which it acquired for $27.97 billion.

Strive Asset Management, co-founded by Vivek Ramaswamy, has filed an application for a novel Bitcoin Bond ETF. The proposed Strive Bitcoin Bond ETF aims to invest in derivatives such as swaps and options. If approved, this ETF could further boost BTC appeal by increasing institutional investment and demand. Having said that, the US SEC’s decision on the application is eagerly awaited by market participants.

Markets

Crypto market today looks bullish as Bitcoin crossed the $99,000 mark and is trying to touch $100,000 again after a two-week bearish trend. SPX6900 (SPX) and Filecoin (FIL) became the top gainers for today, with a 12% surge in price. Major altcoins also showed a positive trend, with most of the top 10 coins in green.

The global crypto market is also up by 1%, reaching $3.49 trillion. However, the trading volume has decreased by a minor 2%, standing at $83 billion. The Fear and Greed Index now shows a reading of 60, indicating that greed has overtaken fear in the market sentiment.

Ripple (XRP) price shot up last week, ending its two-week consolidation. This move pushed the token closer to kickstarting a bull rally. XRP price analysis using the Fibonacci tool reveals a triple-digit target of $150. Is such a massive rally possible?

After a relatively slow weekend, Bitcoin (BTC) price today is knocking on the $100,000 psychological level after 11 days. BTC will likely blast through this key level as the US dollar drops, anticipating a steep correction. This outlook could blow the short-sellers and bears out of the water.

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.