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This Week’s Summary
Crypto Trends for the Week of Dec. 30, 2024 – Jan. 5, 2025: Market Analysis and Performance
The cryptocurrency market started 2025 on a positive note, as most cryptocurrencies have been seen trading in the green. The first days of January saw exponential boosts for many assets. Notably, some recorded double-digit value surges, seemingly ushering in an auspicious year for the crypto sector. These recent movements caused the market capitalization to increase by approximately $160 billion.Bitcoin started the week trading in the red and sporting a slight hangover as it came down from the final bull run of 2024. However, as the days rolled by, the king of cryptocurrencies recovered steadily. By mid-week, BTC was already trading healthily in the green. The subsequent rise amounts to over $3,000, enabling Bitcoin to trade comfortably at around $98,000.Ethereum also optimistically entered the new year. The second crypto in command has been riding high on a 9% value boost. This increase has positioned it safely above the $3,600 threshold, and it has brushed away any fear of ETH dropping below $3,000 anytime soon. On the contrary, Ethereum now appears to be in a good attacking position for the much-coveted $4,000 level.
Altcoins & DeFi
Most altcoins have been trading in the green. For example, XRP moved up 10%, Cardano by 24%, Solana by 10%, Avalanche by 15%, Sui by 26%, and Stellar by 27%. Some coins have held their heads just slightly above the water with small value boosts. BNB moved up only 0.3%, TRON by 1%, and Toncoin by 0.1%.The memecoins have also been enjoying their holidays in the green. For instance, Dogecoin rose by 22%, Shiba Inu by 9%, and Pepecoin by 13%.The Metaverse sector has also witnessed some notable movements over the past week. For instance, Axie Infinity moved up by 8%, Floki by 12%, Decentraland by 11%, MultiversX by 8%, and ApeCoin by 9%. Meanwhile, Virtuals increased by 11%, Render by 16%, Stacks by 9%, and The Sandbox by 14%.The DeFi sector added almost $4.5 billion to the total value of locked protocols (TVL), which is now at around $127.78 billion.
What’s in the News?
Next Week’s Crypto Market Forecast
The cryptocurrency market stepped into 2025 on the right foot. Its healthy state is a solid statement for what is expected to come in a crucial year for the sector. The positive sentiment should continue into next week and perhaps even for the entire month. A catalyst for this positive trend is the much-expected investiture of Donald Trump as US President, due on Jan. 20.
About the Author
Born and raised in Romania and currently living in Spain, Iulian discovered a knack for writing from a tender age, and even won some minor awards for fiction that didn’t pay much.Iulian became a content writer in 2011, and he is still doing it to some degree of success today. He is currently specialized in cryptocurrencies, technology, online marketing, and social media. In his free time, Iulian likes reading, traveling, and watching sports. His dream is to see Bitcoin reach $100,000, just so he can tell his friends “I told you so.”More By This Author:Ethereum ETFs Record $38 Million Outflows, Break 5-Week Positive StreakBitcoin Dominates 2024, Outperforms Gold And Major Indices – DetailsXRP Price Prediction To $4.9: How The 1-Day 50 MA Will Drive The Next Wave
