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This Week’s Summary
Crypto Trends for the Week of Jan. 13-19, 2025: Market Analysis and Performance
The cryptocurrency market reversed its recent downtrend and surged unexpectedly this week. Behind its sky-rocketing trajectory was a long-anticipated yet entirely unexpected event these days. On Friday evening, President-Elect Donald Trump launched his own cryptocurrency.Dubbed Official Trump (TRUMP), the new coin sent the market into a frenzy while it achieved a whopping 1,000% rise. As a result, most cryptocurrencies increased significantly, and the market capitalization grew by over $310 billion to reach $3.62 trillion.Bitcoin started the week trading in the red. However, it quickly recovered to follow a steady rise toward the $100,000 threshold. New investors backed its growth, but the biggest push came on Friday.The sensational launch of TRUMP rippled through the industry, and Bitcoin was one of its main beneficiaries. The king of cryptocurrencies surged past the $105,000 level in hours. More importantly, it cemented its position there. It could be poised to set a new all-time high.Ethereum was one of the few crypto assets that did not see much benefit from the recent market disruption. In fact, the second crypto in command dipped in the red, albeit not by much. Many of its supporters seemed to jump off the wagon to back other rising altcoins. Recently, ETH has been seen trading at around $3,200.
Altcoins & DeFi
Most altcoins have been seen trading in the green, with very few exceptions. For example, XRP moved up 25%, taking its value to $3.13. Elsewhere, Solana moved up 52%, Cardano by 6%, Chainlink by 17%, and Avalanche by 2%. On the other hand, TRON fell by 1%, Polkadot by 2%, and Toncoin by 5%.Meanwhile, the memecoins have experienced some mixed feelings. For instance, Dogecoin moved up by 11%. However, Shiba Inu fell by 2%, and Pepecoin by 7%.The Metaverse sector also witnessed some notable movements over the past week. For instance, Axie Infinity moved down by 1%, Floki by 5%, Render by 1%, and Stacks by 2%. On the other hand, Virtuals increased by 2%, The Sandbox by 1%, Decentraland by 3%, and MultiversX by 2%.The DeFi sector added more than $5 billion to the total value of locked protocols (TVL), now at around $123 billion.
What’s in the News?
Next Week’s Crypto Market Forecast
The cryptocurrency market recently experienced an unexpectedly bullish movement. The release of the TRUMP cryptocurrency was one of the main reasons behind it. Another one could be Donald Trump’s official inauguration as the new US President, due on Jan. 20. We’re on the brink of a historic week for the cryptocurrency market, and the recent positive sentiment is exactly what was needed.
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:Bitcoin Spot ETFs See $1.86 Billion Inflows, Extend 3-Week Positive StreakBitcoin Whales On The Rise As Market Sees Price Boom – What It MeansSolana Reclaims Monthly And Weekly Support Levels – Expert Sets $330 Target
