Day of rediscovery
What's being bought and sold*
TOP TRENDING ASSETS
*Trading activity in the past 24 hours on the Uphold platform, as of 8 a.m. 14th January 2025.
The combined total of buy and sell percentages can exceed 100% due to customers who engage in both buying and selling the same asset within the 24-hour time frame.
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What’s up
Bitcoin Finds Its Way Back To $96K
After sinking to as low as $89K, Bitcoin has reclaimed a comfortable spot near $96,000, enduring a topsy-turvy stretch ahead of the official start of a presumably pro-crypto era. At its bleakest yesterday, the CoinDesk 20 reflected a weekly decline of 12%. Markets have since turned around in part on some news reports regarding Trump's Day 1 plans.
The total market capitalization of crypto assets rose 3.6% in 24 hours to reach $3.46 trillion as of today at 8:15 a.m. (EST), according to CoinGecko.
An AI-related darling, ai16z (AI16Z), an autonomous spin on angel investing, recorded this morning's most impressive gain, surging 21% in 24 hours. With a market cap of about $1.3 billion, AI16Z is the 94th-largest digital asset, per CoinGecko.
Other noteworthy climbers include Kaspa (KAS), up 14.5%, and Virtuals Protocol (VIRTUAL), up 13%. And don't look now but Fartcoin (FARTCOIN) is making a run at the Top 100 after spiking 42%. Its market cap is $1.07B, making this potty-mouthed-meme the 111th-largest coin.
What's down
Prohibitive Rule On Chopping Block
Ever since President-elect Donald Trump's victory, crypto executives have been encouraged by the prospect of a friendlier regulatory regime and a clear, fair-minded set of road rules. Trump, who will be inaugurated as U.S. President next week, has nominated a Republican lawyer, Paul Atkins, to head the SEC. Atkins is viewed as pro-crypto.
Yesterday came a report that Trump is preparing to issue a pro-crypto executive order shortly after his inauguration. One possible "by decree" outcome of this order could be, among other things, the nixing of an SEC accounting guideline that deters conventional banks from holding crypto on behalf of clients, said the Washington Post.
A bill aiming to eliminate the rule ("SAB 121") recently passed in the House and the Senate but was vetoed by President Biden.
Despite this latest Trump-related jolt, Bitcoin's spot price remains down 4% from this time last week. Since hitting an ATH of about $108K on Dec. 17, BTC has shed 11%.
What's next
Ripple Bulls See World Of Possibilities In '25
Has the Ripple community ever been this stoked about the future?
Actually, Ripple diehards might recall a moment back in December 2017, when XRP rocketed 89% in one day to 89 cents on route to an all-time high that would come the following month.
XRP's ATH of $3.40 arrived on Jan. 7, 2018. It was a time of massive hype about the financial services industry embracing blockchain technology. Back around Christmas of 2017, for example, came some of the first reports of Japanese banks starting to test Ripple’s blockchain technology.
Put your ear to the ground nowadays and you can still hear chatter about Japanese banks leaning into Ripple's ledger technology as part of a wider effort to streamline cross-border remittances. Excited talk is rampant. Fueling speculation about Bank of America transacting via XRP internally was a cryptic (unconfirmed) comment made the other day by a financial planning executive interviewed on the Fox Business channel.
Some of the bullish speculation surrounding the coin connected with Ripple in part owes to a shifting regulatory climate, per a note from Uphold's institutional research unit: "There's growing talk about XRP's potential for an ETF."
Ripple earned a big round of applause by tapping Chainlink for a role as an enabler in the push to turn Ripple's RLUSD into the DeFi sector's stablecoin of choice. Chainlink's partnership with Ripple, announced last week, is designed to allow dApps to access Chainlink's oracles offering high quality price feed data around RLUSD. Ripple's embrace of the "Chainlink standard" to furnish dependable on-chain pricing data for RLUSD is deserving of praise and should potentially "enhance its role in the DeFi space," the Uphold researchers said.
