Dogecoin’s (DOGE) exponential.rally allowed it to overcome a key resistance level as meme coins and other altcoins rallied last week. A mix of the optimistic crypto conditions coupled with whales accumulating half a billion DOGE tokens suggests that its price could extend this rally and tag $1 soon. Dogecoin Climb as Whales Accumulate 550 Million DOGE According to Sanitment data, Dogecoin whales are clearly accumulating and explains why the price may surge to $1 soon. When high net worth investors such as w hales buy, they have the ability to instill confidence and move markets. The chart attached below shows that such investors accumulated over 550 million DOGE between January 1 and today. With Dogecoin price trading around $0.410, these tokens are worth over $245 million. Altogether, whales have bought over 22.49 billion DOGE coins in the past few months. This accumulation is notable because the meme token was in consolidation and is likely to result in a massive move to the upside. Dogecoin Price Whales Dogecoin Price Forecast Using Fibonacci Extension Tool The other chart focuses on the Fibonacci Extension. This tool is added by connecting key swings and identifying key levels. In this case, connecting the highest and lowest levels in November and December shows that the 361% extension lands at $1.0790. That is a sign that the value of DOGE will rally to $1 in the long term. DOGE Price Fibonacci DOGE Reveals A Bullish Pennant Pattern The third chart shows that Dogecoin price is slowly forming a bullish pennant chart pattern on the weekly chart. This pattern’s flag pole started forming in September when it bottomed at $0.0837. It then reached a high of $0.4840 in November. The recent consolidation is part of the formation of the symmetrical triangle pattern. This means that a bullish breakout may happen when the triangle nears its confluence in the next few months. A look back at this chart shows that there is no important resistance from the upper side of the pennant to its ATH. As such, a break above $0.4840 will signal more gains potentially to the all-time high of $0.7447, up by 80% from the current level. This breakout will then lead to a jump to the next psychological point at $1. There is precedence to all this. Bitcoin price jumped to the 2021 high of near $70,000 in 2024, and then moved ahead to get to a new high of $108,000 this year. A key caveat is that this is a weekly chart, meaning that the surge to $1 will likely take time since each bar represents 1 week. Dogecoin Price Chart The bullish Dogecoin price forecast to $1 will become invalid if it drops below the support at $$0.25, the lower side of the pennant. The post 3 Charts Hint Dogecoin Price Could Hit $1 As Whales Accumulate 550M DOGE appeared first on CoinGape .
The post Donald Trump’s Jan 20 Inauguration Sparks Bitcoin Reserve Debate: Could Prices Soar? appeared first on Coinpedia Fintech News As President-elect Donald Trump prepares to take office on 20th Jan, the spotlight is on Bitcoin. Many believe his pro-crypto policies could lead to a significant price surge for Bitcoin, while debates about adopting a national Bitcoin reserve are gaining momentum. Could this be the beginning of a new financial chapter for the U.S.? Trump’s Administration Sparks Bitcoin Optimism With Trump’s inauguration just around the corner, speculation is growing about how his administration might support cryptocurrencies. Some analysts predict that Bitcoin’s price could rise to $130,000 or even $150,000 if Trump announces crypto-friendly policies. One of the most talked-about ideas is Senator Cynthia Lummis’s BITCOIN Act of 2024 , which proposes the Treasury buy 1 million BTC over the next five years. Supporters believe this move could strengthen the U.S. economy and reduce reliance on traditional monetary systems. Bitcoin Reserve Debate Continues The idea of a national Bitcoin reserve has sparked a mix of hope and concern. Supporters, like Suriname’s presidential candidate Maya Parbhoe, argue that Bitcoin could help countries escape the problems of inflation and reckless fiscal policies. She believes adopting Bitcoin would bring stability and protect citizens’ wealth, comparing its importance to the internet in the 1990s. However, critics warn of potential risks. Nic Carter, a Bitcoin expert, said that while Bitcoin works well for smaller countries like El Salvador, it could destabilize the U.S. financial system. Others, like former New York Fed President Bill Dudley, worry that funding a Bitcoin reserve could increase national debt or cause inflation. Meanwhile, Ki Young Ju, CEO of CryptoQuant, raised a key question calling it a “chicken-and-egg” question. Strategic #Bitcoin reserves debate has become a chicken-and-egg dilemma: Proponents: As the dollar dominance weakens, Bitcoin will become the inevitable alternative—adopt it early. Opponents: Bitcoin threatens dollar dominance—don't disrupt the status quo. pic.twitter.com/ML37q0UPbh — Ki Young Ju (@ki_young_ju) December 19, 2024 Should Bitcoin adoption happen because the dollar is losing strength, or will adopting Bitcoin trigger the dollar’s decline? On-Chain Metrics Offer Hope mid the debates, on-chain data is giving Bitcoin fans more reasons to be hopeful. The Coinbase premium, a metric that shows U.S. demand for Bitcoin, turned positive recently , signaling renewed interest from American investors. As Bitcoin’s price edges closer to its ATH of $108K, this renewed demand could push it even higher.
Coinbase Layer-2 network Base wants to onboard $100 billion in on-chain assets as part of its goals for 2025. The network disclosed this in a January 17 blog post, noting that it aligns with its mission to build a global onchain economy. According to the post , Base, which has already achieved significant success in less than two years, wants to increase its global footprint in 2025. The network plans to do this by achieving goals such as onboarding 25 million people, bringing 25,000 developers, and increasing the total amount of transactions to one billion by October. The L2 network also intends to improve its scalability by increasing blockspace capacity to 250 million gas units per second (Mgas/s) With ambitious goals ahead, the Base team has already devised a strategy to achieve its targets. The strategy focuses on five key areas: builders, apps, ownership, markets, and decentralization. As part of its strategy to become the preferred platform for builders, Base will now deploy more developer-friendly tools, including OnchainKit improvements, AI agents, and mini-app development tools. In addition, it plans to improve the overall on-chain experience for builders and developers by providing tools that help them earn more, go viral, and generally expand distribution. The blog post reads: “We will nurture a vibrant ecosystem of connected, open onchain apps that grow the number of people using Base. More apps translate to more concrete reasons for every single person to get onchain.” Meanwhile, The Base team also focuses on decentralizing the network and improving its scalability. Thus, it is working on driving transaction costs below 1 cent and speed below 1 second while reaching Stage 1 decentralization by the end of this year. Coinbase targets on-chain with new products Meanwhile, Base’s goals align with Coinbase’s broader target of providing more on-chain products. The publicly traded exchange has been bullish about bringing more people on-chain and recently launched Bitcoin-backed loan products, enabling users to borrow USDC through the Coinbase app and use BTC as collateral. Products like Base, Smart Wallet, and other DeFi-related products from Coinbase highlight how the exchange has built a broad on-chain ecosystem to attract more mainstream investments. Perhaps the best explanation for this comes from the Smart Wallet team lead, Max Branzburg , who noted how the exchange has been iterating over the years and how products are being developed to address people’s ability to come on-chain. He said: “First, it was too hard to get onchain, so we built the @coinbase app. Then, networks were too slow and expensive – so we built @base. Then, wallets were still too complex, so we built the Smart Wallet.” He added that the Bitcoin loan is only the first step in bringing finance fully on-chain, and more Coinbase will make it accessible to millions of people who hold billions of dollars in assets. Coinbase gets criticism for arbitrarily blocking users’ accounts Despite its on-chain ambitions, the exchange has come under fire from some users for arbitrarily blocking their accounts. Ex Coinbase employee Griffin McShane recently called out the exchange on X after his account was temporarily blocked for two months because he was trying to withdraw a deposit. In Coinbase’s email to Griffin, they claimed this was a measure to keep his account safe, as monitoring shows that he is sending crypto to a fraudulent platform or person. However, McShane noted that he has used the same account for years, including when he worked at Coinbase. Although the exchange has now resolved the issue, several users claimed that they had faced the same problem with Coinbase, which resulted in them being locked out of their accounts for months. Meanwhile, blockchain sleuth ZachXBT noted that Coinbase has a major fraud problem that it has failed to address while blocking legitimate users. Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap
XRP, which has been on the agenda lately and has always been on everyone's lips with its rise, has finally achieved this: According to the data, XRP has surpassed Bitcoin and Ethereum in transaction volume on Coinbase. Accordingly, XRP led the trading volumes on Coinbase, while BTC and ETH took second and third places. While XRP has overtaken BTC and ETH on Coinbase, Bitcoin remains the most-in-demand altcoin on Binance. This difference also shows that US investors are showing increasing interest in XRP. The XRP/USD pair accounted for 25% of Coinbase's 24-hour trading volume of $6.86 billion. Analysts noted that this increase in XRP volume indicates increased interest, especially among investors, after Donald Trump is elected US President in November 2024. Analysts also noted that interest in XRP surged again after Ripple CEO Brad Garlinghouse met with Trump about two weeks ago. Related News: Ripple CEO Brad Garlinghouse Meets With Donald Trump! Is There a Major Announcement Coming for XRP? Apart from the Trump-Garlinghouse meeting, it was stated that the increasing expectation for the approval of a spot XRP ETF in the US also supported the increase in trading volume. *This is not investment advice. Continue Reading: XRP Finally Achieved This Too! It Shook the Markets and Reached the Top!
The post Government Bitcoin Holdings in 2025: Who Owns the Most? appeared first on Coinpedia Fintech News As of January 2025, governments worldwide collectively hold approximately 471,000 Bitcoin (BTC), accounting for 2.5% of the total Bitcoin supply. At the current market price of $34,750 per Bitcoin, this amounts to a staggering value of approximately $16.37 billion. These government bitcoin holdings are obtained through criminal asset seizures, strategic acquisitions, and public donations. The government is increasingly finding out how it can use Bitcoins as both a financial asset and an enabler of the modernization of economic systems. Top Government Bitcoin Holdings in 2025 Rank Country Bitcoin Holdings (BTC) Approximate Value (USD) Primary Acquisition Method Notes 1 United States 212,000 $7.37 billion Criminal seizures (Silk Road, Bitfinex, etc.) Largest holder; reserves impact the market significantly. 2 China 194,000 $6.74 billion Seized from the PlusToken Ponzi Scheme Retains Bitcoin despite crypto trading ban. 3 United Kingdom 61,000 $2.12 billion Seizures from money laundering and fraud operations Proactively auctions Bitcoin to fund law enforcement efforts. 4 Bhutan 13,029 $780 Million Bitcoin Mining Bitcoin mining through renewable hydropower 5 El Salvador 5,800 $201 million Actively purchased for national adoption strategy First country to adopt Bitcoin as legal tender. 6 Ukraine 1,200 $41.7 million Public donations during the Russia-Ukraine conflict Bitcoin used for humanitarian and military funding. 7 Finland 1,890 $65.6 million Seized during narcotics trafficking investigations Sold some Bitcoin to fund social programs. 8 Germany 0 $0 Seizures from cybercrime (previously held 46,359 BTC) Liquidated all holdings in mid-2024, causing price drop. 9 India 450 $15.6 million Seized in crypto fraud investigations Exploring potential use of Bitcoin for a national digital asset fund. 1. United States The United States continues to hold the largest government Bitcoin holding. Much of this Bitcoin was obtained through legal enforcement actions against cybercriminals and dark web marketplaces. Bitcoin Holdings: 212,000 BTC Approximate Value: $7.37 billion Primary Sources Silk Road shutdown that led to the seizure of 69,370 BTC. Bitfinex hack case where the government recovered 94,636 BTC from hackers in 2022. Jimmy Zhong’s arrest in 2022 where 50,676 BTC were seized. Management Strategy: The U.S. auctions off parts of its holdings but holds a significant part for further study or long-term storage. The U.S. government has been controlling Bitcoin; this affects the market trend, as previous sales trigger price changes. 2. China China, which has strict regulations on trading and mining cryptocurrencies, is in fact the country that holds the world’s second-largest Bitcoin reserve. It is basically due to the crackdown on fraudulent schemes on digital assets. Bitcoin Reserves: 194,000 BTC Estimated Worth: $6.74 billion Main Accumulation : China’s Bitcoin was mainly acquired through the PlusToken Ponzi Scheme, where the scam made off with more than $2 billion in Bitcoins and Ethers. Current Status : Although it has banned all crypto trading activities, China is keeping its confiscated Bitcoin rather than liquidating it and may be hoarding it to hedge against the continued rise of digital currency as a global currency. 3. United Kingdom Due to the forceful effort to curb financial crimes related to using digital assets, the United Kingdom has become one of the leading powers. Bitcoin Holdings: 61,000 BTC Estimated Worth: About $2.12 billion in value Source: Confiscation from Illegal Money Laundering and Other Fraudulent Acts The famous case is related to a Chinese citizen running Bitcoin’s illegal operation as an illegal exchange. Strategy: It has been auctioning off cryptocurrencies seized, offering the government revenues to invest in more policing. 4. Bhutan Bhutan now accounts for the sum of 13,029 BTC that is worth over $780 million, being considered the world’s fourth biggest state Bitcoin owner. This portfolio in terms of share makes it equate about 25% of Bhutan’s GDP, where the big BTC reserve reflects this distinct approach from other countries integrating crypto into national economics. Bitcoins held: 13,029 BTC Approximately worth$780 million. Source: Unlike other governments that are acquiring Bitcoin by seizure or purchase, Bhutan acquired its Bitcoin from its investment in Bitcoin mining with the use of its vast, sustainable hydropower resources. Strategy: It is a greener strategy as it supports the country’s policy of more extensive renewable energy commitments, which has placed Bhutan at the centre of the fast-emerging area of cryptocurrency and environmental sustainability. 5. El Salvador El Salvador is the first nation to adopt BitcoinBitcoin as legal tender. While most countries secure their Bitcoin assets through seizures alone, El Salvador is purchasing an active amount to incorporate into its financial system. Bitcoin Holdings: 5,800 BTC Approx. Value: $201 million Acquisition Method: The government has acquired Bitcoin since its adoption as a legal tender in 2021. At the tail end of 2022, it introduced a “1 Bitcoin per Day” program to acquire even more cryptocurrency in an organized manner. Usage: Bitcoin is used for public infrastructure development, economic development, and financial inclusion. Transactions in Bitcoin can be conducted by citizens while using Chivo Wallet, facilitated by the government. 6. Ukraine Ukraine’s Bitcoin reserves are special because they are mostly sourced from donations to fund its defence against Russia. Bitcoin Reserves: 1,200 BTC Estimated Value: $41.7 million Source In February 2022, the Ukrainian government made its Bitcoin wallet addresses public on social media and sought donations to supplement its military’s funding. Many people and institutions from all over the world donated to this effort. Current Balance: Despite the government taking in more than 1,300 BTC, the active utilization of these funds for humanitarian and military purposes has resulted in 1,200 BTC being set aside. 7. Germany Germany has been known to confiscate large amounts of Bitcoin from cybercrime operations. As of January 2025, however, the country no longer maintains any Bitcoin reserves. Previous Balance: 46,359 BTC Liquidation Value: $1.58 billion Source: Seizures of bitcoins from online piracy sites and dark web activities. Present Situation: In mid-2024, Germany sold its entire Bitcoin, which caused its market value to depreciate by 15%. Newly Emerging Players In 2025 1. Finland Finland gained publicity after it confiscated 1,890 BTC in some cases of narco-trafficking. Number of Bitcoins Owned: 1,890 BTC Estimated Value: $65.6 million Policy: Finland used part of the Bitcoin proceeds to finance social programs, thus being pragmatic in its use of the digital asset’s revenue. 2. India India confiscated 450 BTC in 2024 as part of a crackdown on crypto-related scams. Bitcoin Holdings: 450 BTC Estimated Value: $15.6 million Future Potential: The Indian government is considering incorporating confiscated Bitcoin into its economic development policies, and talks are still being held regarding the establishment of a national digital asset fund. Implications of Government Bitcoin Holdings High Bitcoin reserve possession gives a government significant influence over the cryptocurrency market. Huge liquidations, such as the 2024 sale by Germany, are also going to cause price volatility, whereas a declaration of purchase or retention is likely to boost market confidence. Bitcoin is emerging as a tool for geopolitical strategy. Countries like El Salvador and Ukraine demonstrate its potential for economic development and wartime funding, respectively. Meanwhile, larger economies like the U.S. and China are using their holdings to enhance regulatory oversight and mitigate risks associated with illegal activities. Methodology The government led crypto reserves reflect an intersection between law enforcement, money strategy, and tech advances. As of 2025, the largest holders, including the U.S., China, and the UK, continue to shape the cryptocurrency landscape through their acquisitions and management strategies. Finland and India are among the emerging players, but their entry will further enhance recognition of Bitcoin’s potential as a state-level financial asset. The pioneers, on the other hand, are like El Salvador, where the adoption of Bitcoin transforms economic development. The role of governments in the cryptocurrency space will be further expanded in the future. National strategies around Bitcoin will play an important role in specifying the future of digital finance as blockchain technology continues to integrate into global financial systems.
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Bitcoin ( BTC ) is booming! The world’s largest cryptocurrency finally hit and surpassed the all-time high $100K milestone, and while the current price hovers between $90K-$100K, Bitcoin is proving its resilience and increasing prominence in the global financial landscape. Plus, with the incoming crypto-supportive Trump administration, Bitcoin is poised to mature further. You might also like: Crypto will come of age in 2025 | Opinion This milestone marks more than just a price surge. It signals a pivotal moment driven by pending regulatory clarity, political shifts, and growing institutional adoption, setting the stage for a transformative era in finance. A regulatory reset The 2024 election of Donald Trump has marked a turning point for crypto markets. His administration’s commitment to reducing regulatory crackdowns and providing clearer guidelines has sparked optimism across the industry, fostering a more supportive relationship between the US government and digital assets. With blockchain technology already surpassing legacy systems in innovation, institutions that were once hesitant can now enter the space with newfound confidence. Regulatory clarity is proving to be a boon not only for Bitcoin but for the broader crypto ecosystem, which has long awaited the chance to compete on equal footing with traditional financial products. Spot ETFs have set the stage, but more transformative tools are on the horizon to maximize Bitcoin exposure and utility. We’re still in the early innings of a Bitcoin-centered financial system. A sneak peek: Record ETF inflows and market momentum The impact of regulatory capitulation is already identifiable. The approval of Bitcoin spot exchange-traded funds has significantly boosted accessibility for both institutions and retail investors. December 2024 was an all-around positive month in terms of net flows. November 7, 2024, ETFs posted a record daily net inflow of almost $1.38 billion, with BlackRock’s iShares Bitcoin Trust (IBIT) capturing $1.1 billion of this to solidify its leadership in the Bitcoin ETF market. IBIT now holds around $51.745 billion in net assets, overtaking BlackRock’s Gold ETF (IAU), which has accumulated around $33 billion since 2005. While Fidelity’s FBTC and Ark’s ARB also saw strong inflows, their contributions are dwarfed by BlackRock’s. Altogether, Bitcoin ETFs have amassed over $115B in NAV since their approval in January 2024, underscoring the growing institutional appetite for Bitcoin as a store of value and outpacing expectations as we approach Bitcoin ETF’s one year anniversary. This momentum is creating a self-reinforcing cycle as excitement continues to mount alongside inflows. The growth in positive sentiment is unmistakable, with institutions embracing Bitcoin on an unprecedented scale. A glimpse into the future: The next wave of adoption Regulatory clarity and political support have laid the foundation, but the next phase of crypto adoption will be powered by innovation. The introduction of Bitcoin Spot ETFs is just the beginning. Now with access to Bitcoin, institutional investors will want more opportunities to earn and use Bitcoin. Innovative Bitcoin-native yield products and Bitcoin DeFi protocols are sure to revolutionize Bitcoin demand yet again. The next big wave of adoption will likely come from yield products, such as Core’s Non-Custodial Bitcoin Staking, which taps into Bitcoin’s potential for sustainable returns. Having Bitcoin is step one. Earning yield on Bitcoin is the obvious next step. As blockchain technology advances, structured financial products and other sophisticated solutions will emerge, solidifying Bitcoin’s role as the cornerstone of a modern financial system. These innovations will unlock new use cases and drive adoption, ensuring long-term growth for the crypto market that extends beyond today’s regulatory milestones. The early innings of a Bitcoin revolution Bitcoin’s rise reflects its resilience, innovation, and the transformative potential of a level playing field. The regulatory reset following Trump’s election has catalyzed a surge across the digital asset industry, positioning Bitcoin to become a cornerstone of the global financial system as blockchain technology continues to outpace traditional markets. The Bitcoin-centered financial system is only beginning to emerge. Structured products and sophisticated financial instruments will solidify the foundation of a financial system firmly grounded in Bitcoin. The approval of Bitcoin ETFs has opened the door, but the future will be shaped by those who can unlock Bitcoin’s full potential through innovation. As the industry evolves, a Bitcoin-centered financial world is no longer just possible—it’s inevitable. Read more: As Bitcoin soars, major brands will find crypto more palatable | Opinion Author: Rich Rines Rich Rines , an initial contributor to Core DAO and former lead of Coinbase’s money movement engineering, is a self-taught engineer and successful entrepreneur with ventures like Element Wallet and AutoReach. His expertise lies in 0-1 building, growth, and scalability, with a passion for Bitcoin and decentralization. He has helped shape Core’s strategic direction, growing the blockchain to over 7 million users, $300m in Bitcoin staked, 55% of the Bitcoin hash rate securing the network, and 100+ projects live on the network in less than 18 months from mainnet.
Bitcoin's price volatility creates both risks and opportunities for traders. Market sentiment remains cautious, indicating potential for a trading bottom. Continue Reading: Bitcoin’s Price Movement Offers Risks and Opportunities for Traders The post Bitcoin’s Price Movement Offers Risks and Opportunities for Traders appeared first on COINTURK NEWS .
Bitcoin (BTC) is rallying ahead of President-elect Donald Trump’s inauguration, with renewed U.S. investor interest driving momentum. At the time of writing, the leading crypto is trading at $102,471k, having increased by more than 2% in the last 24 hours. The most recent data on the on-chain analytics platform CryptoQuant shows recovery in the key Coinbase premium metric. This metric tracks the price difference between Coinbase’s BTC/USD pair and Binance’s BTC/USDT equivalent, reflecting U.S. sentiment. U.S. investors drive market momentum as Coinbase Premium turns positive CryptoQuant contributor Burak Kesmeci wrote in one of its Quicktake blog posts that U.S. investors are showing renewed buying interest as BTC continues to surge. The Coinbase Premium Index (CPI) turned positive for the first time since Jan. 6, suggesting a growing willingness among U.S. investors to increase BTC exposure. Historically, a positive CPI has indicated a market dominated by buyers, while a negative reading suggests selling pressure. Bitcoin Coinbase Premium Index (CPI). Source: CryptoQuant Rumors of pro-crypto policies under the incoming Trump administration are fueling optimism. Day-one announcements could set the tone for a new bull market phase for Bitcoin and altcoins. Kesmeci noted: With only a few days left until Trump’s inauguration, U.S. investors are clearly taking a bullish stance. CPI data confirms that, on both daily and hourly timeframes, U.S. investors are reclaiming dominance in the market. – Burak Kesmici Bitcoin price surpasses $102,000 key level Ahead of the Jan. 17 Wall Street session—the last before the inauguration—BTC/USD climbed 2%, reaching $102,471, its highest level in 10 days. Bitcoin price chart | Source: TradingView Monitoring platform CoinGlass reported $60 million in BTC short liquidations over 24 hours, as bearish traders faced losses amid Bitcoin’s resurgence. Daan Crypto Trades cited CoinGlass data showing quarterly BTC/USD performance over the years. He noted that Q1 has been good overall for BTC, especially in the post-halving years (2013, 2017, and 2021), and this trend is expected to continue. BTC’s positive performance comes amid speculation that a strategic Bitcoin reserve could be announced as early as next Monday. Still, contrary to some community expectations, Polymarket sees only a 37% chance of such a reserve being formed in early 2025. A few weeks ago, Jeff Park, head of alpha strategies at Bitwise Invest, recently said that there was only a 10% chance of the strategic Bitcoin reserve being formed in 2025. However, he noted that the Bitcoin price might surge to $1 million if it happens. As U.S. investors ramp up their activity, questions remain about how the incoming administration’s policies will influence Bitcoin’s trajectory. The market’s positive momentum and renewed investor interest could signal the beginning of another significant rally under Trump’s presidency. A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.
Amid the overall resurgance of the broader cryptocurrency market, Ripple’s native cross-border token stole the show in the past few days and flew past $3 and even up to $3.4 to match its 2018 all-time high. Although the asset failed to go into uncharted territory on most exchanges, the network usage and whale activity continue to rise, suggesting that it could still mark new peaks during the ongoing cycle. Network, Holder Growth for XRP CryptoPotato reported yesterday the culmination (so far) of XRP’s price ascent that resulted in breaking above $3 for the first time since January 2018 and reaching $3.4 on most exchanges, which, according to them and CoinGecko, is the ATH tapped seven years ago. Santiment’s data shows a similar daily peak of $3.39, which means that XRP was less than 1% away from going into uncharted territory. Some of the most probable reasons behind this rally include the market revival, the optimistic regulatory views for the upcoming Trump administration, whale accumulation , and others. The aforementioned crypto analytics platform also indicated that the rise in XRP’s price came alongside substantial growth of large token transactions worth more than $100,000. Within an 8-hour span alone, such XRP transactions reached 2,365, which is the highest level since December 3, the company clarified. It added that the overall non-empty XRP wallets have grown by more than 500,000 in the past two months. Both of these factors should be added to the growing list of positive developments around Ripple and its native crypto asset. XRP has just reached a new 7-year high, crossing a $3.39 market value for the first time since January, 2018. With this rise, we have just seen 2,365 $100K+ XRP transactions in the latest 8-hour span, the highest spike since December 34rd. Total holders are also skyrocketing. pic.twitter.com/gtaRp0NPn9 — Santiment (@santimentfeed) January 16, 2025 Social Media Attention Santiment added that XRP’s rally had taken the main stage in terms of social media discussion despite BTC’s return to six-digit territory and other bullish developments on the crypto front, such as the growing possibility of a Litecoin ETF . Ripple’s popularity on the global social media scene is also related to the SEC’s appeal from earlier this week in the legal case between the two. The agency, which sued the company over four years ago, appealed a ruling from 2023 regarding XRP’s potential status as a security, even though its leadership will change in just a few days. “Discussions have grown surrounding the SEC’s legal actions against Ripple and its implications for the cryptocurrency market. Still aiming to classify XRP as a security, this ongoing legal battle is generating considerable attention that has mostly resulted in XRP’s market value climbing higher on increased investor interest and confidence.” – explained Santiment. The post XRP’s 7-Year High Came Amid Record Spike in High-Value Transactions and Holder Growth appeared first on CryptoPotato .
Donald Trump, the President-elect of the United States, is poised to undertake a significant initiative in reforming the nation’s stance on cryptocurrency. Reports suggest that he plans to sign an executive order after assuming office on January 20. The objective is to prioritize digital assets on a nationwide scale. A Shift Toward Innovation This is a drastic shift from the previous administration’s position, which was often described as hesitant or restrictive toward the crypto industry. Trump’s administration has shown interest in digital currencies, which is a sign that they are willing to embrace innovation in financial technologies. This might be the stepping stone for more defined regulations and increased cooperation between the government and the cryptocurrency sector. A Council For Crypto Policy Discussion and proposals include developing a dedicated body that would solely advocate for crypto interests. Ideally, this organization would act to bridge the world of regulators to market participants’ opinions, ensuring such policies are equally balanced and offer support for economic growth. And by doing all this, administration is trying to create a non-hostile ecosystem for businesses, as well as investors. President-elect Donald Trump is planning to release an executive order elevating crypto as a policy priority and giving industry insiders a voice within his administration, according to people familiar with the plans. https://t.co/b6X1BFriXZ — Stars and Stripes (@starsandstripes) January 17, 2025 The Signing Sources say that Trump could sign the order on January 20, which is the first day of his leadership. It could also put an end to all crypto cases that are still going on and tell all government groups to rethink their stance on digital currencies. Market Reactions And A Bitcoin Reserve Most of the market reaction has been very positive about the latest development. Even after the news broke out, Bitcoin price skyrocketed to $102,000, which proved that investors are gradually becoming optimistic regarding the future of crypto under the new government. Analysts believe this might continue as information about Trump’s plans comes in. There are also proposals to make a national Bitcoin reserve. The fact that the US government has over $20 billion in seized cryptocurrency assets could be proof that it wants to use digital assets in the long run. A Promising Future For Crypto The US will have a huge chance to solidify its place as a world leader in the cryptocurrency space courtesy of Trump’s plan. The government can get the most out of digital assets by promoting new ideas, streamlining rules, and attracting investment. Featured image from Chairman of the Joint Chiefs of Staff, chart from TradingView