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🚨 Your Daily Web3 Digest: Top Crypto and Blockchain News
CoinGape Media
January 15, 2025
News
The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Elon Musk, accusing him of securities fraud linked to his 2022 acquisition of Twitter, now rebranded as X. The complaint was filed in federal court in Washington, D.C., and alleges that Musk violated disclosure laws while amassing a large stake in the social media company.
Coinbase revealed that nearly 90% of crypto assets evaluated fail to meet its listing standards. The platform employs a thorough review process involving legal, compliance, and technical checks conducted by the Digital Asset Support Group (DASG). The process ensures only assets with robust fundamentals, security, and liquidity are approved. Despite DASG approval, further business analysis is required to evaluate factors such as market demand, social sentiment, and project development.
The crypto community has been eagerly awaiting the US Consumer Price Index (CPI) data as it marks a major economic event to influence the market. The US CPI report for December 2024 highlights that the inflation has increased to 2.9%, marking a 0.2% rise from the 2.7% recorded in November. As a result, Bitcoin price jumped above $98.5K level as it came in line with market expectations and the core CPI inflation rose less than expected. According to the latest report released by the US Bureau of Labor Statistics, the CPI of 2.9% indicates third consecutive increase in the index. Market estimates predicted that the CPI data would stay steady at 0.3% month-over-month. At the same time, there were estimations that the year-over-year (YoY) CPI to surge to 2.9% from last month’s 2.7%.
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Markets
The cryptocurrency market today showed signs of recovery after experiencing a sharp drop earlier this week. Bitcoin (BTC) rebounded past the $97K mark after hitting a recent low of $89K. Investors are also closely watching the U.S. Consumer Price Index (CPI) data scheduled for release today, which could influence market sentiment.
In the altcoin section, Ripple’s XRP emerged as the top-performing coin among the top 10 cryptocurrencies, gaining 12% in the last 24 hours. DeXe (DEXE) led the overall market, recording an 18% surge during the same period.
The global crypto market cap stood at $3.38 trillion, reflecting a 2.45% increase over the last 24 hours. However, trading volume dropped by 29%, settling at approximately $123 billion. The Fear and Greed Index remained neutral at 51, indicating a balanced market sentiment.
Cryptocurrency prices have staged a mild recovery this week, a trend that may continue if the United States releases weak inflation numbers. They may also rebound ahead of the upcoming Donald Trump inauguration and Gary Gensler’s resignation. So, here are some of the best crypto coins to buy and hold for long-term profits.
Solana price has remained on edge this month, tracking the performance of other Bitcoin and other altcoins. It has pared back some of the losses made on Monday as investors watch the ongoing trends in the DEX industry. So, will the SOL price explode higher to $300 as its DEX volume rise?
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.