Cardano has been one of the coins to watch during the recent bull run and is currently showing promising signs of continuing higher.
By Edris Derakhshi (TradingRage)
The USDT Paired Chart
The ADA/USDT’s daily chart demonstrates interesting price action. The asset has been declining gradually since getting rejected by the $1.2 resistance level. However, the market has experienced a quick reversal at the $0.75 support level and broke the bearish trendline higher.
As a result, the asset is rallying toward the $1.2 resistance level at the moment, and a breakout could potentially lead to a rally toward a new record high.
The BTC Paired Chart
The ADA/BTC price action on the daily timeframe looks quite similar to the USDT paired chart. The market has been supported at the 900 SAT level and is now rising toward the 1,500 SAT resistance zone once again.
With the RSI indicating that the momentum is bullish, it is quite probable that the market will reach the mentioned zone, which would mean that ADA is likely to outperform BTC in the upcoming weeks.
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Crypto markets held on to gains made late last week over the weekend, and momentum could continue into the following days.
There has been a small ‘Santa rally’ for stocks and crypto markets over the first few days of the year, with around $280 billion entering digital asset markets.
This week will see the release of key employment figures along with consumer sentiment reports.
“Labor market data is in the spotlight ahead of the January 29th Fed meeting,” commented the Kobeissi Letter.
Economic Events Jan. 6 to 10
Monday will see the release of the S&P Global Services PMI (Purchasing Managers’ Index), while Tuesday has the ISM (Institute for Supply Management) Services PMI. These reports portray business conditions in the services sector and are leading economic indicators used by economists and analysts.
The focus then switches to labor market data with the November JOLTS Job Openings report on Tuesday and December ADP Nonfarm Employment data on Wednesday.
December’s Nonfarm Payrolls and Unemployment reports are due on Friday, and these present the number of new jobs created during the previous month, along with the percentage of people actively seeking employment.
These two reports are important economic indicators as they track the shift in the number of positions that are strongly associated with the overall health of the economy.
Key Events This Week:
1. S&P Global Services PMI data – Monday
2. November JOLTS Job Openings – Tuesday
3. December ADP Nonfarm Employment data – Wednesday
Friday also sees January’s Michigan Consumer Sentiment Index and Consumer Inflation Expectations preliminary readings. This data reveals the results of a monthly survey of consumer confidence levels and views of long-term inflation in the US.
Additionally, the Q4 2024 earnings season will begin in earnest in mid-January.
The Kobeissi Letter also cautioned that the “implications of China’s real estate collapse will spread well beyond real estate in China” before adding, “As we head into 2025, we are positioning ourselves for more volatility in the market.”
Crypto Market Outlook
Crypto market capitalization has remained flat over the past 24 hours and was at $3.68 trillion at the time of writing.
Bitcoin momentum was building steadily, with the asset hitting a ten-day high, topping $99,000 during early trading in Asia on Monday morning. The asset has now gained around 7.5% over the past seven days and it is on track to reclaim the psychological $100,000 level soon.
Ethereum has mirrored the action with a similar weekly gain as it tapped $3,670 on Jan. 6, its highest price since Dec. 19.
Most of the altcoins were flat on the day, having held on to weekend gains, and momentum appears set to continue this week.
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Bitcoin’s price recovered from the most substantial declines earlier this week that drove it to a monthly low but still struggles to return to six-digit territory.
With the weekly close just hours away, here are the potential risks the cryptocurrency faces if it remains under this coveted level.
BTC to Close Below $100K?
The last couple of weeks of 2024 were quite painful for BTC as its price dumped from its latest all-time high registered on December 17 of over $108,000 to $91,300 in days. The latter came on December 30 and marked the asset’s lowest price point in over a month.
However, bitcoin reacted well to this correction and now sits above $98,000. This represents a 7.5% increase since that low. On a weekly scale, BTC is up by 3.5% compared to the valuation last Sunday.
Perhaps the biggest factor holding bitcoin below $100,000 now is the ‘stiff supply wall’ that appears in its current levels. This means that a lot of investors have accumulated their BTC holdings at prices between $98,000 and $100,000, which essentially turns these levels into critical resistance lines, according to Ali Martinez.
On the plus side, the same analyst outlined a highly bullish development for BTC, which occurred at the end of 2024. More than 48,000 BTC (valued at $4.7 billion at today’s prices) were withdrawn from exchanges, thus reducing the immediate sell pressure.
Martinez believes BTC might retest the 50-day moving average, which is currently at just under $97,000. Although bitcoin is currently above that level, it needs to close there, which will be “essential to signal the end of the correction and confirm bullish momentum.”
#Bitcoin$BTC remains at a critical point. This might just be a retest of the 50-day MA before a potential move lower. A sustained close above the 50-day MA is essential to signal the end of the correction and confirm bullish momentum. pic.twitter.com/ppfEjfoJkc
The analyst told his over 100,000 followers on X that he remains ‘cautiously bullish’ because the cryptocurrency could be forming a head-and-shoulders pattern that might lead to an even more violent decline to $78,000. In his latest post, Martinez highlighted that BTC has to close above $100,000 to invalidate this bearish setup, which is currently not the case.
I’m cautiously bullish because for all we know, #Bitcoin$BTC could be forming a head-and-shoulders pattern that anticipates a correction to at least $78,000. This is why a strong close above $100,000 is crucial to invalidate this bearish setup. pic.twitter.com/2O1y3sEWgq
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Investors can take part using crypto (like ETH or USDT) or even a regular bank card – only a crypto wallet is required.
And while the presale has no official end date, the developers have already completed some key security checks.
Top blockchain security firm Coinsult gave Best Wallet’s smart contracts the green light, finding no vulnerabilities.
Plus, Coinsult noted safeguards were built in to prevent the developers from minting new tokens. There are also no honeypot traps.
All these factors point to why Best Wallet is quickly becoming one of the most talked-about presales of late 2024.
Multi-Chain Powerhouse – Inside Best Wallet’s Advanced Ecosystem
Best Wallet aims to change the game for crypto users with its feature-packed, multi-chain platform.
It can handle over 1,000 cryptocurrencies across more than 60 blockchains.
This is also a non-custodial wallet, meaning users are always in control of their digital assets.
Whether it’s Bitcoin, Solana, or the latest meme coin on Ethereum, Best Wallet makes crypto management as simple as possible.
Powering the Best Wallet ecosystem is the native BEST token.
Holders enjoy gas-free transactions, get early access to promising new presale projects, and are eligible for regular airdrops.
Best Wallet also includes end-to-end encryption, two-factor authentication, and biometric security measures to protect users. It’s essentially an all-in-one hub for crypto.
Users can connect to the Best Wallet ecosystem through a dedicated iOS and Android app, making accessing their crypto on the move easy.
With this combination of useful features and an enormous presale raise, it’s no surprise the project’s Telegram channel members are so hyped about the future.
High-Yield Staking & Proven Track Record Draw Crypto Influencer Attention
But there’s more to Best Wallet than this. While the wallet’s core features are impressive, its ecosystem extends into exciting territory.
Its staking protocol is a prime example. This protocol currently offers annual yields of 353% for BEST token holders.
And the community is clearly on board – they’ve already locked up over 75 million tokens, even before BEST has launched on exchanges.
Another feature generating serious buzz is the “Upcoming Tokens” tab.
This tool has already proven its ability to highlight potential crypto winners.
Early users of the Best Wallet platform were able to invest in new meme coins Catslap and Pepe Unchained – both of which produced significant returns.
This kind of track record is hard to ignore.
Even popular crypto influencers are beginning to take notice, including Austin Hilton, who called it the “best new crypto wallet” of the year.
He also sees big potential for the BEST token.
So, with a thriving presale and a fast-growing Twitter community, Best Wallet looks primed to shake up the crypto management space.
The momentum around the project is undeniable.
Visit Best Wallet Token Presale
Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.
Readers are also advised to read CryptoPotato’s full disclaimer.
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Not without some controversy and tense moments, the 119th US Congress was officially sworn in, with Republicans dominating both chambers for the first time in six years.
Trump-backed Mike Johnson was re-elected as the US House Speaker on the first ballot in a 218-215 vote on Friday.
Many in the cryptocurrency community were quick to praise the new administration, even before Donald Trump’s inauguration later this month, including Ripple’s CEO.
Today, here in the US, we welcomed the 119th Congress—better known as the most pro-crypto Congress in history.
The journey is just beginning, but you can’t deny the energy & excitement already building across the industry. Let’s get to work.
Shortly after the elections in early November, Garlinghouse noted that US-based cryptocurrency projects had benefited the most from Trump’s landslide victory as the Biden administration and the SEC, in particular, had suppressed many such businesses. This was evident from the skyrocketing prices of assets like XRP and ADA.
Additionally, reports started to emerge that Ripple’s CEO, alongside IOG’s Charles Hoskinson, had met with Trump or people from his team to discuss their involvement in the upcoming regulatory framework around the crypto industry.
Although those rumors were never confirmed by Garlinghouse himself, he has been openly praising the upcoming administration, including the Republican-dominated Congress, which he called ‘the most pro-crypto’ in history.
The XRP army is particularly focused on the changes in the SEC. The agency and Ripple have been in a four-year-long legal battle, which was nowhere near its end during Gensler’s tenure. However, with his departure in just weeks and Trump’s pro-crypto choice for new SEC chair, the community is anticipating a quicker and perhaps more favorable closure to the case.
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[PRESS RELEASE – New York, United States, January 3rd, 2025]
Plume Network, the first full-stack modular layer-1 blockchain focused on Real World Asset Finance (RWAfi), is thrilled to announce a partnership with Purpose for Profit (PFP), the world’s first on-chain endowment and tokenized credit fund dedicated to providing below-market-rate loans to businesses building quality affordable housing. This collaboration marks a pivotal step in democratizing financial opportunities while advancing sustainable and equitable development.
At the core of this partnership is a shared vision to leverage blockchain for greater transparency, inclusivity, and impact. PFP’s innovative model utilizes the blockchain to document all loans disbursed, payments received, assets under management, and token activities—both onchain and offchain. By doing so, PFP ensures transparency for investors and stakeholders.
Through PFP’s PURPOSE token, individuals can stake their way into impact investing by essentially taking a liquidity provider position. Token holders can earn a portion of revenues from interest on loans repaid, all without management fees or penalties for early exits. This accessible model empowers participants to support impactful ESG initiatives, starting with affordable and mixed-income housing projects that provide below-market-rate loans to businesses.
“Plume Network is proud to support Purpose for Profit in their efforts to merge blockchain innovation with meaningful, real world impact,” said Chris Yin, CEO and founder of Plume. “This partnership is a testament to the transformative potential of blockchain technology when aligned with shared values of sustainability, equity, and transparency.”
Together, Plume Network and Purpose for Profit aim to onboard over 1 million new participants from sectors like real estate, construction, non-profits, and philanthropy into Web3. This effort aligns with PFP’s mission to create a globally inclusive financial community, blending traditional cooperative principles with progressive decentralization powered by blockchain.
“Plume Network’s architecture is the foundation for the next phase of blockchain innovation, it enables solutions that will onboard the next wave of adopters. We’re excited to launch with Plume and bring RWA to the masses,” said Elizabeth Kukka, CEO of Purpose for Profit.
This partnership reinforces Plume Network’s commitment to fostering real world asset tokenization and creating a robust ecosystem for projects driving societal good. By integrating PFP into the Plume ecosystem, users will gain access to tokenized impact investing opportunities and transparent financial mechanisms, seamlessly merging the power of DeFi with tangible ESG outcomes.
About Purpose for Profit (PFP)
Purpose for Profit is the world’s first tokenized lending fund and on-chain endowment for ESG initiatives. Focused on affordable housing, PFP leverages blockchain to create a transparent, inclusive, and progressive model for impact investing.
Users can learn more at
About Plume Network
Plume is the first public blockchain purpose-built for RWAfi, enabling the rapid adoption and demand-driven integration of real world assets. With 180+ projects building on the network, Plume offers a composable, EVM-compatible environment for onboarding and managing diverse real-world assets. Coupled with an end-to-end tokenization engine and a network of financial infrastructure partners, Plume simplifies asset onboarding and enables seamless DeFi integration for RWAs so anyone can tokenize real world assets, distribute them globally, and make them useful for native crypto users.
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DOGE surged substantially as whales bought over 1 billion tokens in the last 24 hours.
Elon Musk’s upcoming role in leading the Department of Government Efficiency (D.O.G.E.) has bolstered excitement among Dogecoin proponents.
New ATH Incoming?
The biggest meme coin in terms of market capitalization has charted a solid 30% price increase in the past two weeks. Currently, it is worth approximately $0.36 (per CoinGecko’s data), representing a 6% jump on a daily scale.
DOGE Price, Source: CoinGecko
According to one important recent development, DOGE’s valuation might shoot even higher in the short term. The popular analyst Ali Martinez revealed on X that Dogecoin whales have purchased over 1.08 tokens (equaling more than $350 million at ongoing rates) in the last 24 hours. Several days ago, large investors acquired another 300 million DOGE.
Such a buying spree from whales reduces the amount of DOGE available on the open market. This could be followed by a price surge (should demand stay the same or head north). Additionally, this activity often signals confidence in the asset, encouraging retail investors to follow suit and amplifying price increases. This behavior can also lead to “FOMO” (fear of missing out), further driving demand.
Some market observers who speculate that DOGE could soon hit a new all-time high include Trader Tardigrade and ProfessorAstrones. The former claimed that the meme coin’s valuation had already hit a local bottom and is now poisedfor a rally toward a fresh peak. ProfessorAstrones observed DOGE’s price chart, provocatively telling his almost 200,000 followers on X to remind them when it breaks $1.
2025 to Become DOGE’s Year?
Some might assume the new year could be highly successful for the OG meme coin. After all, Donald Trump will become America’s 47th President in less than 20 days, while Elon Musk will lead a newly established division called the Department of Government Efficiency (D.O.G.E.). The entity’s main goal will be to reduce bureaucracy, cut unnecessary regulations, and eliminate wasteful spending within the US government.
Musk’s involvement in politics and the name of the division he is about to spearhead have infused huge enthusiasm among DOGE proponents. After all, Tesla’s CEO is a huge advocate of the meme coin, often praising its merits and endorsing it on X.
Moreover, in May last year, his EV giant integrated DOGE as a payment option on its website. We have yet to see whether some of his businesses will introduce other Dogecoin-related initiatives in the next 12 months.
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The bankrupt crypto lender Celsius Network has filed an appeal challenging a court ruling that dismissed its $444 million claim against the defunct crypto exchange FTX.
The appeal, which is currently awaiting review in the District Court, comes as part of Celsius’ ongoing litigation efforts to recover funds from FTX.
Celsius’ Initial Claim
According to court documents, Celsius had originally filed a claim of up to $2 billion in damages from FTX. The claim alleged that FTX officials had made “unsubstantiated and disparaging statements” against Celsius, which undermined its reputation and accelerated its collapse in 2022.
However, before the bar date in July 2024, the company amended the claim to $444 million, stating that the new claim would focus on “preferential transfers” that allegedly gave some creditors an advantage over others.
In December, Judge John Dorsey, the magistrate in charge of the case, rejected both claims. He pointed out the procedural flaws in Celsius’ filings, stating that they lacked sufficient evidence to maintain the preference claims.
Judge Dorsey criticized Celsius’ amended filing, stating that it was improper since the company did not seek court approval. He also noted that the content of the amended claims was not remotely related to the original claims and could obstruct FTX’s restructuring plans.
On December 31, Celsius’ litigation administrator, Mohsin Meghji, officially filed a notice of appeal disputing Judge Dorsey’s ruling. In the filing, Celsius argued that its initial fillings met all the requirements of the Bankruptcy Code despite lacking a detailed explanation.
The company intends to continue pursuing the case to recover the disputed claim.
Celsius’ Repayment Efforts
Despite its legal woes, Celsius has made considerable progress to repay its creditors. In August 2024, the company began its repayment effort, distributing $2.5 billion in crypto and cash to more than 250,000 creditors in over 165 countries.
In a more recent court filing in November, Celsius announced plans to disburse an additional $127 million to creditors. The company pointed out that this second payout will be made from funds recovered through its litigation efforts.
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The Ripple cross-border payment token has climbed almost 15% over the past 24 hours, hitting an intraday high of $2.44 during early trading in Asia on Jan. 2.
It is the highest XRP has been since mid-December, as payment coins lead the way into the new year.
The Ripple token exploded to top $2.90 in a seven-year high in early December but had fallen back to dip at $2 by the end of the month.
“Momentum and increased focus on real-world utility continues to build,” said CEO Brad Garlinghouse on Jan. 1.
Also on New Year’s Day, community member ‘Jack the Rippler’ observed that the fintech firm has released its monthly 500 million XRP from escrow, “but with an interesting note!”
The memo in the transaction stated, “January 20 is around the corner,”
“Donald Trump will be in the White House, and we are going to make crypto great again.”
There have been a lot of unsubstantiated rumors about Ripple working closely with the new Trump administration.
He also noted that XRP “broke out from a descending triangle and is ready for $3!”
Ripple’s sibling, which was forked from the chain, Stellar Lumens (XLM), was also performing well, as it usually mirrors XRP momentum.
XLM has surged 28% on the day, hitting an intraday high of $0.456 during the Thursday morning Asian trading session. Stellar spiked to over $0.60 in late November, but it still remains down 50% from its 2018 all-time high.
Cardano (ADA) is also performing well today with a 10% gain to reach $0.95, its highest price for a fortnight.
Other altcoin gainers include Avalanche (AVAX), Chainlink (LINK), and Hedera (HBAR).
Bitcoin Consolidation Continues
Bitcoin has made just 1.3% over the past day to top $95,000 during Thursday morning trading. The asset has remained in consolidation since its fall below $100,000 in mid-December.
BTC dominance is currently at 57.44%, dropping 7% since its multi-year high of almost 62% in late November when it was rallying hard.
Some analysts believe that a big altcoin rally will occur in the first three months of 2025, and this could be at the expense of BTC if capital is rotated into alts.
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Bitcoin’s price went to a daily high of $96,000 but was quickly stopped there and pushed south by a few grand within hours.
The altcoins are also struggling today, with ETH dumping to well below $3,400, SOL down to $190, and ADA slipping to $0.85.
BTC Stopped at $96K
The primary cryptocurrency had a painful end to an otherwise bullish year as it dropped from its latest all-time high of $108,300 to $92,000 within days in the middle of December. Although it bounced off initially and neared $100,000 on a couple of occasions, the bears were quick to intercept the moves and didn’t allow any further gains.
Just the opposite, BTC started to lose value in the following days, which culminated on Monday with a plunge to $91,300. This became its lowest price tag in just over a month.
The bulls managed to intercept the move and drove BTC to $95,000 later that day and up to $96,000 on Tuesday. However, this was another false breakout and the cryptocurrency is down by nearly three grand since then to just over $93,000 as of now.
Its market capitalization has slumped beneath $1.850 trillion on CG, while its dominance over the altcoins remains strong at 54.3%.
The alternative coins didn’t enjoy the last days of 2024 either, and the beginning of the new year is rather familiar. Ethereum has lost nearly 2% of value and is well below $3,400. Similar price drops are evident from SOL, DOGE, ADA, AVAX, TON, and DOT.
Even more painful declines are evident from Chainlink, SUI, HBAR, and APT. In the case of LINK, the price drop is almost 5%, which has pushed it to under $20.
In contrast, XRP has finally charted a minor increase after a tough week, while VIRTUAL, OM, and XMR have gained around 5-7% each.
The total crypto market cap has shed about $30 billion and is down to $3.4 trillion on CG.
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