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🚨 Web3 Insights: Top Crypto Trends and Insights You Can't Ignore
CoinGape Media
January 21, 2025
News
Donald Trump’s inauguration speech did not mention any form of cryptocurrency, including Bitcoin. This goes against the pro-crypto rhetoric he used during his campaign. The absence of verbal stimulus caused volatility in the market as Bitcoin’s prices dropped to a low of $101,000 after initially climbing. At the time of writing, Bitcoin price was down about 4%, leaving the market uncertain about Trump’s crypto policy direction. Analysts are now speculating on what his administration could mean for digital assets.
The US crypto economy is on the cusp of a significant overhaul as Donald Trump begins his second term as President. Predicting a major reform in the US financial landscape, Bank of America CEO Brian Moynihan shed light on the possible inclusion of crypto payments in the banking industry. Despite Trump’s explicit silence on crypto on his inaugural day, the community remains optimistic about the potential policy announcement. If the Trump administration greenlights crypto payments in banks, it could be a game-changer for the US financial landscape.
In a recent development, asset manager REX Shares has applied for a flurry of crypto-related exchange-traded funds (ETFs) with the US Securities and Exchange Commission (SEC). The filing included applications for ETFs that will offer XRP, SOL, DOGE, and BONK to institutional investors.
Markets
In a riveting turn of events, following Donald Trump’s presidential inauguration on Monday, the crypto realm appears to have witnessed mixed price actions recently. While Bitcoin (BTC) price maintained a hold above the $102K level, top meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Official Trump (TRUMP) have traded in the red territory. Notably, the global cryptocurrency market cap jumped nearly 1% over the past day to reach $3.52 trillion. Further, the global trading volume dropped 7.5% to $318.11 billion. Ethereum (ETH) and Solana (SOL) showcased a sideways trading session intraday. Besides, XRP hovered in the green territory.
With President Donald Trump not making any crypto-related announcements, Bitcoin is barely breaking even this week. Despite the letdown, BTC closed the day on a positive note on Monday with a near-1% gain. However, Bitcoin price today is down -3.74%, while investors wonder if this descent could trigger another crash that pushes BTC under $100K.
Ethereum (ETH) remained relatively stable at around $3,300 as the Ethereum Foundation explores staking and DeFi options amid community uproar. Also, explore the ETH price forecast to uncover key support and resistance levels where investors can buy dips and book profits in 2025.
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.