- The worldwide crypto market capitalization grew by 2.4% on Monday, reaching a new all-time excessive of $3.7 trillion.
- Cumulative crypto market buying and selling quantity crossed the $640 billion mark for the primary time since November.
- Bitcoin, Solana and XRP reached new all-time highs in the course of the market frenzy fueled by Trump’s inauguration.
- TRUMP and MELANIA tokens hit unicorn standing inside hours post-launch, pulling capital away from legacy memecoins like DOGE, PEPE and SHIB.
Bitcoin Market Updates: Trump inauguration drives Bitcoin value to all time excessive
Bitcoin price reached a new all-time excessive above $109,000 on Monday, amid euphoric speculative buying and selling surrounding Donald Trump’s Presidency.
Bitcoin Open Curiosity vs. BTC Value | Supply: Coinglass
Bitcoin open curiosity declined by $2 billion, regardless of value climbing to all time highs, signalling that merchants are reluctant to enter new positions across the present costs.
This might be an early sign of an imminent correction section for BTC value.
Altcoin market updates: Vitalik announcement triggers Ethereum rebound as SOL and LINK emerge as prime gainers
Whereas Bitcoin costs hit record peaks on Monday, the altcoin markets endured intense volatility.
Amid fears of tariff bulletins on the inauguration speech, many merchants opted to lean in the direction of Bitcoin, XRP, Solana and Chainlink, and newly-launched meme tokens TRUMP and MELANIA with shut ties to Trump’s presidency.
TOTAL3 (Cryptocurrency market cap excluding BTC and ETH) | Supply: TradingView
TradingView’s TOTAL3 represents the worldwide cryptocurrency market cap development, excluding Bitcoin and Ethereum.
The chart above reveals the altcoin market cap declined by 6% to hit $1.09 trillion on Monday, whereas prime ranked belongings BTC, XRP and SOL booked appreciable positive aspects during the last 24 hours.
This emphasizes that almost all of crypto traders leaned in the direction of top-ranked layer 1 belongings in a bid to hedge in opposition to the danger of antagonistic sell-offs within the aftermath of the Inauguration.
With the inauguration now concluded, early market indicators recommend main draw back dangers forward, with rising buying and selling volumes over the previous week hinting at oversupplied altcoin markets.
Key altcoin value actions immediately
- Ethereum value retakes $3,250 resistance
Ethereum (ETH) value noticed a pointy rebound on Monday, climbing above the $3,250 stage after co-founder Vitalik Buterin weighed in on neighborhood requests to halt additional ETH gross sales to fund the Ethereum foundations operations. The gentle ETH value rebound comes amid a interval of declining demand and heightened market volatility, which had beforehand pushed Ethereum to a weekly low.
- TRUMP & MELANIA Token Performances
President Donald Trump launched the $TRUMP meme coin, which rapidly garnered important consideration. Initially bought at $3 per coin, $TRUMP surged to an intraday excessive of $76.94, reaching a market capitalization of roughly $15 billion.
Nonetheless, the next launch of First Girl Melania Trump’s $MELANIA token, which peaked at $9.30, led to a pointy decline in $TRUMP’s worth.
This dynamic shift means that merchants quickly transitioned from $TRUMP to $MELANIA, leading to each tokens retracing over 40% from their day by day peaks.
Buyers specific issues that the potential introduction of extra tokens might additional dilute curiosity and affect valuations.
- XRP Surpasses $3, Reaching Seven-Yr Excessive
XRP’s value surged previous the $3 mark, reaching an intraday excessive of $3.34, a 16% enhance over the previous 24 hours.
This rally is attributed to declining U.S. core inflation, rising expectations for Federal Reserve rate of interest cuts, and anticipation of new spot exchange-traded funds (ETFs) that may instantly personal cryptocurrencies.
Moreover, optimistic developments within the SEC’s authorized case in opposition to Ripple have additional boosted investor confidence in XRP.
- Solana Value Hits All-Time Excessive as Trump Tokens Spark Residual Demand Frenzy
Solana (SOL) surged to a new all-time excessive, reaching $275 because the blockchain performed host to the highly-publicized Trump-themed tokens, $TRUMP and $MELANIA.
The launch of those tokens sparked a wave of speculative demand, not just for the tokens themselves but in addition for the native SOL token.
Whereas the community battled one other outage, traders continued to flock in the direction of SOL, as buying and selling volumes on TRUMP and MELANIA tokens exceeded 20 billion mixed during the last 24 hours.
This exceptional efficiency highlights SOL as a key asset to observe as Trump’s Presidency unfolds.
Chart of the day: Privateness Cash (PayFi) lead Crypto market efficiency as US Tiktok ban heightened surveillance fears
Privateness cash have emerged because the best-performing cryptocurrency sector within the crypto market amid rising issues over digital surveillance.
Experiences of a possible US TikTok ban, and potential tariff bulletins sparked fears of heightened authorities surveillance, main a surge in demand for privacy-preserving cryptocurrencies on the US Presidential Inauguration day.
Privateness Cash (PayFi) Sector efficiency | Supply: SosoValue
XRP and Stellar (XLM) demonstrated a synchronized value motion this week, buying and selling increased resulting from their shared historic ties.
With XRP buying and selling at $3.14, up 2.94% in 24 hours, and XLM rising 2.19% to $0.45, each tokens have benefited from overlapping investor curiosity.
This connection stems from the founding historical past of Stellar, created by a former Ripple government, Jed McCaleb, which has usually resulted in parallel buying and selling patterns throughout market rallies.
The looming U.S. TikTok ban and hypothesis over new tariffs focusing on China have stoked fears of rising surveillance and monetary oversight.
As traders took on hedged positions forward of Trump’s inauguration speech, the Privateness Coin sector elevated by 5% to develop into the best-performing altcoin market sub-sector on
Monday. Distinguished privateness cash Litecoin (LTC), Bitcoin Cash (BCH), Sprint (DASH), and eCash (XEC), have traditionally witnessed heightened demand in periods of geopolitical scuffle and surveillance issues.
Main the cost this week, Litecoin (LTC) rose 2.04% within the final 24 hours to hit $118, additional emphasizing its historic popularity as “digital silver”.
Equally, Bitcoin Money (BCH), usually seen as a sooner and extra privacy-focused different to Bitcoin, traded at $433.50 regardless of a minor pullback.
Sprint (DASH) and eCash (XEC) additionally exemplify the rising demand for privacy-preserving options. Sprint gained 0.63% to $36.51, whereas XEC rose 2.16% to $0.00003402, capitalizing on their capacity to supply nameless and environment friendly transactions.
With the looming U.S. TikTok ban and hypothesis over new tariffs focusing on China nonetheless hanging within the steadiness, these tokens might probably maintain the elevated market demand within the coming days.
Crypto Information Updates: Mark Cuban Unveils Trump-Impressed Meme Coin to Cut back U.S. Debt
- Billionaire entrepreneur Mark Cuban has introduced plans to launch a meme coin geared toward tackling the U.S. nationwide debt.
Impressed by the $TRUMP token, Cuban’s mission will direct all income from coin gross sales to the U.S. Treasury.
Outlining the proposal on X, he pledged a 20% float and a launch schedule an identical to $TRUMP.
“If meme cash are the way in which, perhaps I’ll subject one. Identical phrases as $TRUMP… one distinction: All of the income from the sale of the cash goes to the U.S. Treasury,”
Mark Cuban, January 20 2025.
Whereas acknowledging the speculative nature of meme cash, Cuban framed the initiative as a clear gamble to assist scale back debt.
The proposal has sparked debate amongst crypto lovers, with some elevating issues over investor dangers and distribution challenges
- Caroline Pham Named Performing Chair of CFTC by Trump
President Donald Trump has appointed CFTC Commissioner Caroline Pham because the appearing chair of the U.S. Commodity Futures Buying and selling Fee (CFTC).
The company members confirmed Pham’s appointment, citing her management in advancing digital asset rules.
Pham beforehand spearheaded initiatives just like the creation of a Digital Asset Markets subcommittee and proposed a regulatory framework to supervise the cryptocurrency sector.
- Gensler exits as Trump appoints Mark Uyeda as appearing SEC chair
President Donald Trump has named Mark Uyeda, a Republican SEC commissioner, as appearing chair of the Securities and Trade Fee (SEC).
Uyeda replaces Gary Gensler, who served in the course of the Biden administration.
Trump additionally introduced plans to appoint former SEC Commissioner Paul Atkins as everlasting chair, signaling a possible shift within the SEC’s method to digital belongings.
Uyeda, alongside Commissioner Hester Peirce, has been an advocate for clearer crypto rules and criticized Gensler’s enforcement-heavy technique.
Uyeda and Peirce are reportedly getting ready to introduce important reforms to crypto insurance policies, together with revisiting contested points like final yr’s crypto accounting steering that drew congressional criticism.
Nonetheless, main coverage adjustments might face challenges because of the SEC’s present construction, with solely three commissioners—Uyeda, Peirce, and Democrat Caroline Crenshaw. Underneath quorum guidelines, unanimous approval is required for new rulemaking, giving Crenshaw efficient veto energy over proposed reforms.
