Polymarket is gaining momentum, extending its recovery from the post-election slump. The prediction market platform is rebuilding open interest but has set records for drawing in more new users. Polymarket is entering a new stage in its development, as January is setting records for daily active users. For now, Polymarket is yet to recover the open interest from the US Presidential election market, but has retained more than 4.1M registered wallets and a growing number of daily active users. Polymarket remains a staple in crypto space, and is also seen as a go-to indicator for the most likely outcome for current events. User count kept growing on Polymarket, on a mix of new prediction pairs and airdrop mining. | Source: Dune Analytics The user count increased despite regional warnings for users from France and Singapore . As crypto activity shifted to the USA, Polymarket tapped predictions for current events, with significant available liquidity. Some of the recently resolving markets include the upcoming decision on the TikTok ban in the USA. The platform also got a short-term boost, after Elon Musk followed the Polymarket handle on X. Polymarket brings in new cohort of users Part of the growth for Polymarket comes from wallets that never interacted with the US elections market. That prediction hinged on whale-sized bets, while newer markets trade at a lower volume. Wallets that only interacted with other prediction pairs started taking off in October and November. Non-election wallets made up between 35% and 43% of users in the past months, adding to all other active markets such as sports and current events. The metric shows Polymarket was gaining popularity outside the election season, even before November 6, 2024. The current inflow of users is not a generic type of activity in the hopes of receiving an airdrop. Most of the traffic was drawn to the highly liquid Superbowl winner market, which had open interest above $124M at the end of 2024. Polymarket is still ranked #2 among Polygon POS apps, surpassed only by Moonwell. Users on Polymarket remain near their one-month high , as they move into several highly active prediction pairs. Polymarket open interest depends on top betting pairs In January, the market’s open interest is still the highest among all prediction pairs, running up $19M in positions for January. The success of Polymarket hinges on picking up the most appealing market pairs. The current open interest is concentrated in about 20 pairs from different categories, including sports, politics, crypto, and current events. Polymarket has grown its user base, but open interest remains volatile. The recovery comes from finding one market to dominate all others, as in the case of the Superbowl outcome, or bets on Joe Biden finishing his presidency. After the bet resolves, the open interest rapidly decreases, as Polymarket users are left in search of the next liquid pair. Polymarket is testing new types of bets, recently removing the market for crypto influencers and X personalities, replacing it with bets on the number of tweets by Elon Musk. Open interest recovered from the post-election lows, once again rising in January. | Source: Dune Analytics Some of the predictions are also used for trading before being resolved. Smaller markets are not as suitable for trading positions as the balance of tokens shifts. Daily trading volumes, however, have established a baseline of $35M per day, despite different betting conditions and current events. The market adapted, as users avoided the least liquid pairs that could be manipulated. The previous whales making large-scale bets are gone, as even top traders take positions under $20,000. As of January 17, Polymarket locks in $129.68 in value, based on buying the ‘yes’ or ‘no’ tokens of prediction pairs. Some of the traffic on the market is considered organic, but there are also signs of potential wash trading. While some of the small-scale trading can be faked, the available liquidity is not so easy to supply artificially. The wash trading may be a part of pre-emptive airdrop mining. So far, Polymarket has refused to give any hints to the parameters of the airdrop. The only mention of an upcoming token was a message to users that tried to withdraw their funds from the platform after the US elections ended. Polymarket managed to retain some of those users, and even expand their count, by setting up an expectation for an airdrop in the coming months. From Zero to Web3 Pro: Your 90-Day Career Launch Plan
A fresh report from Wintermute, a global leader in algorithmic market-making and high-frequency trading (HFT), reveals a staggering 313% growth in the company’s over-the-counter (OTC) trading volumes, outpacing the broader 142% uptick in crypto exchange activity. Alongside these figures, the firm shared a series of forward-looking insights for 2025. Ethereum Acquisition? Wintermute Predicts Public Company
XRP has become the focal point of the crypto market after experiencing a massive price surge and surpassing the $3 mark. For many investors seeking wealth, the previously stagnant cryptocurrency presented an opportunity to buy low in the hopes of a price increase. Fortunately, XRP has stayed true to bullish predictions and is finally rallying back to its 2018 all-time high . As a result, experts now speculate on the “unimaginable financial freedom” that could be achieved from holding even a modest amount of XRP. Here’s How Much XRP You Need To Be Financially Free According to XRP supporter and crypto analyst, Edo Farina, amassing just 10,000 XRP tokens could place an investor in a rather enviable position. The analyst suggested that investing in XRP could be investors’ chance to gain financial freedom in the crypto space, emphasizing the cryptocurrency’s potential to deliver substantial returns and long-term wealth. As a popular crypto enthusiast and analyst with over $139,000 followers, Farina is known to be a strong advocate for XRP, showing unwavering support and bullish sentiment despite its legal battles and past stagnancy. The crypto analyst has consistently encouraged investors to accumulate XRP, even during periods of low price and volatility, emphasizing its potential for strong bullish growth. Farina revealed in an earlier X post in January 2025 that not holding 10,000 XRP could be a lifetime mistake. The analyst also pointed out that with $10,000 investors can get only 3,000 XRP based on current prices. However, a few years ago, when the token’s market value was much lower, the same amount would have allowed investors to accumulate tens of thousands of tokens. Before November 2024, XRP was trading around $0.5, a price level it had been consolidating within for nearly four years. Unsurprisingly, this prolonged price stagnation aligned with the duration of the still ongoing legal battle between Ripple and the US SEC . Following Donald Trump’s victory in the US Presidential election and SEC Chairman Gary Gensler resignation announcement , the XRP price skyrocketed past $2, achieving a historic surge not seen since the previous bull rally in 2018. Investors who had purchased large amounts of XRP at its $0.5 level had most likely seen exponential gains after its price increase. Currently, XRP is trading at $3.32, underscoring its fast growth rate as it completely broke out of its previous consolidation range above $2. Farina has disclosed that with XRP’s current price, being a top 10% holder was almost impossible for the average investor. The analyst underscored that due to its unexpected rise to new price highs , most investors do not have enough capital to make the required investment. Next Bullish Target Set At $8 As he highlights the possible gains investors could have by holding XRP, Farina also shared his optimistic projection for the third-largest cryptocurrency. The analyst predicted that XRP could see a massive price surge to $8 soon. The analyst expressed excitement over XRP’s recent price surge above $3, emphasizing the potential for the cryptocurrency to experience an even greater pump as time passes. Farina revealed his long-term target for XRP, highlighting that he would only sell off his holdings once the cryptocurrency hits $100. Featured image created with Dall.E, chart from Tradingview.com
Bitcoin hovers at $105,000 as altcoins await upward movement. Ethereum shows signs of accumulation despite price stagnation. Continue Reading: Bitcoin Stays Steady at $105K While Altcoin Hopes Rise The post Bitcoin Stays Steady at $105K While Altcoin Hopes Rise appeared first on COINTURK NEWS .
Cryptocurrency analyst Fred Krueger has made a bold claim that former President Donald Trump will announce the creation of a Bitcoin Strategic Reserve (BSR) as part of a sweeping set of executive orders expected on Monday. In a statement, Krueger outlined his reasoning, citing political risks and Trump’s historical support for pro-crypto policies. “There will be a lot of executive orders announced on Monday, that’s for sure,” Krueger said. “If there’s no executive order regarding the Bitcoin Strategic Reserve among those many announcements, then a lot of Trump’s donors are going to be very disappointed. Trump doesn’t want to experience that disappointment at the beginning of his presidency.” Related News: The Country That Slowly Accumulated Massive Bitcoin Without Drawing Attention May Have Sold Some, According to Onchain Data Krueger said the sheer number of executive orders expected makes it highly likely that a BSR initiative will be included. “If it were just a few executive orders, they might be able to get away with delaying the BSR decision. But if it were dozens, they might not be,” he said. Additionally, new reports suggest that cryptocurrency exchange Coinbase is backing a Bitcoin reserve initiative, with Coinbase CEO Brian Armstrong reportedly holding private meetings with Trump. *This is not investment advice. Continue Reading: Big Day in Bitcoin on Monday, Analyst Says: “It’s Definitely Coming”
This weekend could see significant volatility in Bitcoin’s price, as traders brace for unpredictable movements amidst the crypto market backdrop. With Bitcoin recently surpassing $102,000, market analysts are keenly monitoring
The post Coinbase Endorses Strategic Bitcoin Reserve appeared first on Coinpedia Fintech News In a latest development, Coinbase, the United States’ largest crypto exchange, is endorsing the creation of a US strategic Bitcoin reserve. Notably, the endorsement comes just before the second inauguration of Donald Trump and Armstrong’s trip to the World Economic Forum. It is also the first time Coinbase has specifically addressed the idea of a strategic bitcoin reserve. In a Friday blog post , Coinbase CEO Armstrong urged world leaders and policymakers to recognize the positive impact of cryptocurrency, stating that it can accelerate economic freedom. “Economic growth comes from free market capitalism, deregulation, small government, and technological innovation,” he noted. “If the rest of the G20 wishes to participate in economic prosperity, they would be wise to join the growing trend of embracing economic freedom and free markets.” Armstrong Outlines Four Actions Notably, Armstrong urges world leaders to take four actions in the spirit of tech-optimism, starting with passing laws to keep crypto firms in their home countries. The first would be passing pro-crypto regulation, which would encourage crypto innovation and growth. Secondly, launching a strategic Bitcoin reserve. “The next global arms race will be in the digital economy, not space,” he writes in the post. Thirdly, Armstrong promotes establishing special economic zones for the digital asset economy. Armstrong supported the new Department of Government Efficiency (DOGE), led by Elon Musk, emphasizing the need for more efficient governments. Strategic Bitcoin Reserve Coinbase, led by Armstrong, has been a strong advocate for pro-crypto policies and regulation, especially in opposition to the SEC. Recently, Coinbase launched Bitcoin loans for U.S. users. The launch allows users in the United States to get BTC loans directly from the cryptocurrency exchange. As the U.S. focuses more on Bitcoin’s future, several states are exploring crypto options, including proposing strategic Bitcoin reserves.
Wyoming Senator Cynthia Lummis has issued a formal letter to Federal Deposit Insurance Corporation (FDIC) Chair Martin Gruenberg, expressing concerns following reports from whistleblowers within the agency. According to the Republican legislator, her office was contacted by individuals alleging that the corporation was destroying documents tied to its digital asset activities. The Alleged Activities In her letter on Thursday, Lummis highlighted claims that suspected whistleblowers were being “closely monitored by management” as part of an effort to block communication with her office, with threats of legal action if staff members attempted to reach out. She condemned the purported activities in a separate statement, saying: “The FDIC’s alleged efforts to destroy and conceal materials from the U.S. Senate related to Operation Chokepoint 2.0 is not only unacceptable, it is illegal.” The assertions revolve around “Operation Chokepoint 2.0,” an initiative ostensibly designed to hinder the crypto sector’s access to traditional banking and financial services. Concerns over the approach of regulators to crypto-related banking surfaced prominently last year. In August, multiple crypto industry figures met with White House officials to discuss their relationship, including Mark Cuban and Anthony Scaramucci, as well as representatives from Coinbase, Kraken, and Uniswap. During the meeting, Deputy Treasury Secretary Wally Adeyemo denied any coordinated attempt to block crypto from the financial system. However, when a participant asked who had experienced restricted banking access due to White House policies, nearly all attendees reportedly raised their hands. Coinbase also sued the FDIC in June 2024, accusing it of attempting to sever crypto’s ties to traditional banking. However, the agency has denied targeting the industry. Its 2024 Risk Review report said that financial institutions are “neither prohibited nor discouraged from providing banking services to customers of any specific class or type.” Senator Asks for Preservation of Crypto Records In her message to Gruenberg, Lummis demanded that the regulator preserve all documents related to its digital asset activities since January 1, 2022. She detailed specific records to retain, including communications involving Signature Bank, Silvergate Bank, and crypto-related enforcement actions. Additionally, she requested the preservation of guidance materials and records concerning the FDIC’s coordination with other federal agencies on digital assets. The senator’s directive also called for safeguarding records containing terms such as “crypto,” “Bitcoin,” “Ethereum,” and “digital asset,” with an emphasis on protecting metadata and preventing the alteration or destruction of electronic information. Further, the lawmaker warned that if anyone within the FDIC were found to have knowingly destroyed relevant materials or obstructed Senate oversight, swift criminal referrals would be made to the U.S. Department of Justice. Stressing the importance of transparency, Lummis pledged to ensure Americans receive the answers they deserve. The post Cynthia Lummis Accuses FDIC of Destroying Operation Chokepoint 2.0 Records appeared first on CryptoPotato .
Ethereum (ETH) is showing signs of resilience despite a recent price drop, as bullish sentiment and increasing market activity hint at a potential rally toward $4,000. The surge in Ether
At the start of the year, many market analysts and observers shared their price expectations for Bitcoin, with many targeting $150k this cycle. However, a price target of $150k doesn’t do justice to Bitcoin, says one trader, arguing that the world’s flagship crypto asset is coming into this cycle with increasing institutional adoption. Related Reading: ‘Grand Bull Market’ For Cardano? Analyst Declares The Bottom Is In According to Alex Becker (@ZssBecker), a $150k target is “too low and too short” and only represents 1/6th of gold’s market cap. Instead, Becker sees a price of $250k to 400k as a better and more realistic target for Bitcoin this cycle. A Measly 48% Gain If Bitcoin Hits $150k According to CoinMarketCap, Bitcoin is trading at $101,690, and if it were to hit $150k, then this would represent a 48% increase and only a 38% increase from its all-time value of $108,249. Everyone and their dog thinks we are entering the final BIG leg of the cycle towards a $150kish BTC. Call me crazy, but I think we are calling this way to low and way to short. $150k is only 1/6th the market cap of gold. We have the biggest funds, nations and corporations… — Alex Becker 🍊🏆🥇 (@ZssBecker) January 16, 2025 According to Becker, it’s crazy to limit the price of Bitcoin to just $150k. At this value, this is only equal to 1/6th of gold’s market cap. In the same post, Becker explains why the digital asset can hit a higher high. He mentions the increasing adoption of the flagship crypto among nations, funds, and corporations. Becker adds that many countries and firms look at Bitcoin as a store of value and want to hold the asset. Analyst Targets $250k To $400k After calling the $150k mark a “silly low price” for Bitcoin, Becker offered a more realistic target for the asset. He argued that Bitcoin will rise from $250k to $400k this cycle. Becker’s sentiments were shared by Will Clemente, another popular crypto analyst. In his January 16th post on Twitter/X, Clemente argued that BTC will continue to appreciate in market price as soon as more countries adopt a Bitcoin reserve pool. Clemente predicted that Bitcoin has the strength to hit $1 million. He further stated that once countries adopt a strategic reserve for the crypto, it’s only natural for the government to start stockpiling the asset. Related Reading: Spot Crypto ETFs: Litecoin Likely Next In Line For SEC Nod Other Crypto Firms, Players Target Higher Price For BTC With Donald Trump’s presidency just around the corner, many firms and crypto analysts offer their price takes on Bitcoin. Blockware Solutions, in a post shared last December 29th, said that $150k is the “bear case target” for Bitcoin in case Trump decides not to pursue the plans to launch a BTC reserve. Related Reading: Expert Sees Bitcoin Dipping To $50K While Bullish Momentum Persists However, if the President pushes with the plans, the alpha coin’s probable base price is $225k, which can go up to $400k. VanEck is also offering a more rosy picture for Bitcoin, saying that this digital asset may hit $180k by the end of the year. Bitfinex suggested that it may reach $200k by mid-2025. According to Becker, the $150k target a few months ago was on target since only a few institutions are invested in the asset. However, in the current landscape of increasing adoption and favorable regulations, a $150k target just doesn’t make sense. Featured image from DALL-E, chart from TradingView