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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. 22nd 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
Signals Mounting For A Rally Ahead
Bitcoin briefly raced above $107,000 on Tuesday in the wake of news the SEC had created a crypto task force to tackle the mission of providing clearer-cut regulations for an industry weary of walking on eggshells. The acting SEC Chair, Mark Uyeda, a Republican SEC commissioner who in the past has blasted the agency's rulemaking-by-hammer approach, announced that the task force will be led by SEC commissioner Hester Peirce, also a Republican, and who is known more affectionately as "Crypto Mom."
After the announcement, BTC immediately shot up 2.4%, crossing $106,000 by the middle of yesterday afternoon. The largest crypto reached as high as $107,245 after sinking, earlier in the day, to as low as $102,700, according to CoinGecko.
Tuesday saw a gusher of flows ($800M) into U.S.-listed spot BTC ETFs led by BlackRock's IBIT (garnering $660M), helping to cement positive sentiment. Additionally, CoinDesk reports that CME BTC options data, as in, wagers to the upside, hasn't tilted this bullishly since right after the election.
BTC's hashprice, meanwhile, hasn't been this high for over a month. Hashprice is a metric reflecting the profitability of per-day hashing power, quantifying how much a miner can expect to earn. So you'd think mining stocks would be up, right?
What's down
Mining Stocks Fall
Day one of Trump's second stint as U.S. commander-in-chief came and went on Monday. Digital assets didn't get singled out as a priority. An executive order calling for a strategic BTC reserve didn't materialize.
On Tuesday, Crypto stocks fell. Shares in crypto miner Riot Platforms (RIOT) closed down 4.85%, while CleanSpark (CLSK) dropped 7.67% (Cointelegraph).
What's next
Another Jupiter Airdrop Imminent
At the start of last year, Solana-based DEX aggregator Jupiter held its first airdrop, granting one billion JUP tokens to wallets with which it had interacted. Within a week, JUP had jumped to $2, an all-time high.
As of this morning at 8:34 a.m. (EST), JUP (+0.9% in 24-hrs) was about 87 cents. Later this morning, Jupiter is expected to open claims for another airdrop, giving 2 million individual wallets up to 90 days to snag their share of 700 million JUP tokens worth more than $600M. "Don't rush," Jupiter's X account advised. "Solana may be congested ... gas can be expensive."
According to Decrypt, this latest Jupiter drop was codified by way of a DAO proposal which passed with the support of nearly 90% of voters agreeing that the DeFi stalwart should hold two separate airdrops (of 700 million JUP tokens apiece) this year, and again next year.
