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- 🚨 Web3 Insights: The Latest Trends and Updates You Need to Know!
🚨 Web3 Insights: The Latest Trends and Updates You Need to Know!
CoinGape Media
January 11, 2025
News
Paul Grewal, Chief Legal Officer (CLO) of Coinbase, raised concerns regarding the Federal Deposit Insurance Corporation’s (FDIC) handling of Freedom of Information Act (FOIA) requests. Grewal’s remarks came after Coinbase encountered redacted and incomplete responses from the FDIC, which raised questions about the agency’s transparency.
The newly appointed AI and Crypto Czar David Sacks will host the inaugural Crypto Ball with several industry leaders in attendance next week. As Donald Trump takes charge as President on January 20, the crypto industry has high hopes from Sacks with expectations of more crypto-friendly policies.
The US non-farm payroll data (NFP) data showed that the US economy added greater than expected jobs last month in December 2024. This has dwindled the chances of a Fed rate cut coming in March this year, which could further delay the chances of a BTC price rally to $200K this year.
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The much-anticipated inauguration of Donald Trump on January 20th is drawing global attention, with cryptocurrency enthusiasts eager to understand the potential implications for the digital asset market. Known for his pro-business approach, Trump’s presidency could signal a new era for blockchain innovation and crypto adoption.
Markets
Crypto prices today remained steady, with Bitcoin (BTC) trading near $94K and Ethereum (ETH) holding firm after the release of U.S. jobs data. The global crypto market cap saw a slight increase of 1%, reaching $3.29 trillion, despite a 7% drop in trading volume to $144 billion. Grayscale, a leading crypto asset management firm, boosted market sentiment by revealing plans to consider 39 cryptocurrencies, including popular altcoins like Dogecoin (DOGE), BNB, Hedera (HBAR), Kaspa (KAS), and Aptos (APT).
Among major altcoins, Bitcoin SV (BSV) emerged as the top gainer, recording a 15% rise in the last 24 hours, highlighting strong performance in an otherwise stable market.
Ethereum (ETH) remains steady at the $3,200 support level despite recent market fluctuations. Looking ahead, a crypto expert predicts a bullish trend for ETH in both the short and long term. While other cryptos struggle to see a rebound, Ether could rally further, encouraged by an emerging ascending channel and technical indicators.
Bitcoin (BTC) remains bullish on the longer time frames, but retail investors are panic selling after a crash below $100K again. Institutions remain vigilant as always, accumulating nearly $100 billion worth of BTC in 2024. Why? Let’s explore.
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.