Polymarket currently predicts a 95% chance that Donald Trump would pardon the Silk Road creator in his first week in office.
Dogecoin traders have lost over $65 million in 24 hours amid the largest liquidation event in this year so far. This development came as the DOGE price crashed violently after climbing to as high as $0.43 on Sunday. Dogecoin Traders Lose Over $60 Million In 24 Hours Coinglass data shows that Dogecoin traders have lost over $65 million in the last 24 hours. Traders who went long on DOGE suffered the most, with $54.81 million in long positions liquidated during this period. Short traders accounted for the remaining loss, with $7.90 in short positions liquidated. Related Reading: Dogecoin ‘Power Of 3’ Pattern Enters Distribution Phase: Massive Bull Run Incoming? These short liquidations likely occurred earlier on Sunday, when the Dogecoin price reclaimed the $0.40 support level and rebounded to as high as $0.43. However, the price action took a drastic turn later in the day, crashing from the intra-day high of around $0.43 to as low as $0.35, leading to the flush in long positions. Dogecoin traders weren’t the only ones who suffered significant losses. Other crypto traders lost substantial sums as the crypto market witnessed its largest liquidation event this year, with over $1 billion liquidated in the last 24 hours, according to Coinglass data. Long traders took the most hit, with $903.59 million in long positions liquidated. Meanwhile, $260 million in short positions were liquidated. These liquidations occurred as the Bitcoin price dropped from as high as $106,000 to $100,000, dragging other coins, including Dogecoin, along with it. This price drop across the board occurred mainly due to the US First Lady Melania Trump’s launch of her meme coin, ‘MELANIA,’ which drained liquidity from other coins in the market. Dogecoin traders were also bound to take a significant hit considering DOGE’s strong price correlation with BTC. As such, a Dogecoin price crash was inevitable as the flagship crypto nosedived to as low as $100,000. The Cycle Is Not Over Crypto analyst Kevin Capital provided optimism for Dogecoin traders, stating that the cycle is not over. The analyst also reminded those upset at Donald Trump and his team about the ‘TRUMP’ and ‘MELANIA’ meme coins that Dogecoin could easily have remained at $0.11 if the incoming president had not won the elections instead of Kamala Harris. Related Reading: Crypto Analyst Predicts When Dogecoin Price Will Hit $3 This Cycle As such, he urged Dogecoin investors and traders to be grateful for how far DOGE has come since November 5th, 2024, when Trump won the elections. Indeed, Trump’s victory was the primary catalyst for Dogecoin’s gains last year. The foremost meme coin had maintained a tepid price action for most of last year until Elon Musk’s Department of Government Efficiency (D.O.G.E), coined from DOGE, looked likely to come to life as Trump led the polls. At the time of writing, the Dogecoin price is trading at around $0.36, down over 8% in the last 24 hours, according to data from CoinMarketCap. Featured image from Unsplash, chart from Tradingview.com
Ramaswamy’s exit puts Musk’s leadership under scrutiny as DOGE’s directives may shape Congress and Trump’s executive orders.
The Ethereum Foundation’s move to support Ethereum’s DeFi ecosystem comes after months of criticism accusing it of not caring enough about the space.
Beijing's half-marathon will see humans racing alongside humanoid robots as China pushes to dominate global robotics.
Circle CEO Jeremy Allaire expressed optimism about President Donald Trump’s potential to enact policies favorable to the crypto industry, including executive orders that could remove barriers to digital asset adoption, Reuters reported on Jan. 20. Speaking at the Reuters Global Markets Forum during the World Economic Forum in Davos, Allaire highlighted the urgency of reversing […]
The post Circle CEO bullish on Trump’s crypto policy despite no mention during speech appeared first on CryptoSlate.
Ethereum (ETH) continues to lose ground to Bitcoin (BTC) as the latter’s dominance rises, with US President-elect Donald Trump set to take office later today. At the time of writing, the ETH/BTC trading pair stands at 0.031, marking a four-year low for the ratio. ETH/BTC Continues To Decline As Trump Focuses On Bitcoin Over the past year, Bitcoin has appreciated by an impressive 158%, surging from approximately $41,000 on January 21, 2024, to $107,608 at the time of writing. The cryptocurrency has consistently reached new all-time highs (ATH) throughout the year. In contrast, Ethereum has delivered a modest return of approximately 35% over the same period and remains 32% below its November 2021 ATH of $4,878. Related Reading: Will Ethereum Bounce Back? Crypto Analysts Discuss Potential Price Recovery According to the weekly chart below from TradingView, the ETH/BTC trading pair — also referred to as the ETH/BTC ratio within the crypto industry — has reached a fresh four-year low. This decline has raised concerns about the likelihood of an Ethereum-led altcoin season. Currently trading at 0.031, the ETH/BTC ratio has erased all gains accumulated since March 2021. The pair peaked at 0.087 in December 2021, during the height of that year’s altcoin season. Since then, however, Ethereum, the second-largest digital asset by market capitalization, has experienced a steady decline against Bitcoin. In May 2024, the ratio fell below 0.054, a critical support level that had previously held firm in June 2022. Several factors have contributed to Ethereum’s underperformance, including Trump’s perceived preference for Bitcoin and the rising competition from rival smart-contract platforms like Solana (SOL). Unlike Bitcoin, Ethereum has struggled with adoption. Corporations worldwide are increasingly incorporating Bitcoin into their balance sheets, reinforcing BTC’s status as a premier digital asset. Additionally, speculation about the creation of a US strategic Bitcoin reserve has further bolstered the narrative around Bitcoin’s limited supply, driving its price higher. Conversely, Ethereum’s relatively high issuance rate has cast doubt on its “ultrasound money” narrative. Ethereum’s 2024 performance has also eroded confidence among some of its largest holders. Notably, an ETH whale recently sold 10,070 ETH at a $1 million loss, signaling waning investor trust. Will 2025 Change Ethereum’s Fortunes? While 2024 was a challenging year for Ethereum in terms of price performance, crypto analysts remain optimistic about the asset’s prospects in 2025. For example, a report by Steno Research predicts that Ethereum could surge to as high as $8,000 this year. Related Reading: Ethereum Poised For A Bullish Q1 2025? Here’s What Experts Say Similarly, crypto analyst Daan forecasts that the ETH/BTC trading pair could rise above 0.04 during Q1 2025. In December 2024, Ethereum exchange-traded funds (ETFs) experienced renewed interest from institutional investors, fueling hopes for significant capital inflows into the smart-contract platform. That said, Ethereum must first overcome strong resistance at the $4,000 price level. At press time, ETH trades at $3,368, down 1.3% in the past 24 hours. Featured image from Unsplash, Charts from TradingView.com
A crypto-friendly US government could form the base for new highs for Bitcoin and other digital assets.
Bitcoin (BTC) registered a significant recovery in the past week, jumping from the $90,000 price area to a new all-time high at $109,357.07 on Jan. 20. However, a new Bitfinex Alpha report warns that BTC’s upward momentum faces potential headwinds, as “sell-the-news” trading behavior looms large. Bitcoin’s rebound followed a steep decline to $89,698, which […]
The post Bitcoin’s bull run faces test amid potential Trump-era crypto policies – Bitfinex appeared first on CryptoSlate.
The project acquired $47 million worth of ether and $47 million worth of wrapped bitcoin, among other tokens, on Trump’s first day in office.
The expanding ranks of pro-Bitcoin presidents are boosting global optimism for crypto mass adoption.
Following weeks of declines, Ethereum (ETH) seems to have begun its recovery, closely tracking Bitcoin’s upward movement. As of today, ETH has reclaimed the $3,300 level, reflecting a 7.5% increase over the past week. This rebound has sparked renewed interest among market participants, who are closely watching Ethereum’s next moves, particularly in light of improving market sentiment and key metrics indicating the potential for further gains. Related Reading: Ethereum Price Faces Another Rejection: Will Momentum Return? Renewed Market Optimism Observed, Road To $3,500? A CryptoQuant QuickTake Platform contributor ShayanBTC recently highlighted that Ethereum is consolidating within a range of $3,200 to $3,500. According to Shayan, market dynamics around this price range suggest that a bullish breakout could be on the horizon. While funding rates—a critical indicator of market sentiment—initially declined, it has begun to rise again, signaling a renewed appetite for long positions and greater confidence in Ethereum’s near-term performance. As Ethereum edges closer to the $3,500 resistance level, the supply and demand dynamics at this price point are drawing significant attention. The presence of notable supply in this range emphasizes the importance of sustained bullish momentum for a breakout. Shayan has pointed out that the funding rates metric will be a key indicator to watch. If funding rates continue to rise, it could signify heightened market optimism, increasing the likelihood of Ethereum pushing beyond $3,5000. According to Shayan, for Ethereum to overcome this critical resistance, the futures market must maintain and strengthen its bullish sentiment. This will require not only a continued rise in funding rates but also an overall increase in long positions and trading activity. The interplay between these factors will determine whether Ethereum can achieve a decisive breakout, making the upcoming market action pivotal for traders and investors. Ethereum Market Performance And Outlook So far, Ethereum is currently trading for $3,346, at the time of writing with the asset recording an increase of 1.3% in the past day. Meanwhile, on the weekly time frame, Ethereum has surged by more than 10% in price suggesting a consistent upward momentum in the past 7 days. Related Reading: Ethereum Whales Double Holdings To 43% Post-Merge – Details However, despite this increase in ETH’s price, the asset is still roughly a 31.3% decrease away from its all-time high (ATH) of $4,878 registered in November 2021. Interestingly, despite this, some analysts are still quite bullish on Ethereum, especially with the new pro-crypto administration. A renowned crypto analyst on X known as Trader PA recently shared in a post a bullish pattern on ETH’s chart in which if ETH makes a breakout it could see a significant rally. Trump will send Ethereum to $5,000. He already bought $72mil in the past 48 hours. pic.twitter.com/PwzYj5byhC — TraderPA (@Trader1PA) January 20, 2025 Featured image created with DALL-E, Chart from TradingView
US Securities and Exchange Commission (SEC) Commissioner Mark Uyeda was appointed as the acting chair of the regulator by President Donald Trump action published on Jan. 20. Meanwhile, the SEC released a statement announcing the official resignation of Chair Gary Gensler. Uyeda will lead the regulator until June 5, 2026 — the date when Gensler […]
The post Mark Uyeda appointed acting SEC chair ahead of Atkins’ 2026 succession, Gensler officially resigns appeared first on CryptoSlate.
Mark Cuban plans to launch a Trump-inspired meme coin, donating all proceeds to the US Treasury to help reduce national debt.
The post Mark Cuban announces Trump-inspired meme coin to pay down US debt appeared first on Crypto Briefing.
President Donald Trump has elevated Republican Commissioner Mark Uyeda to take over the SEC from a now-departed Gary Gensler.
Some Coinbase users report Solana transfers taking hours to clear on the crypto exchange.
The current market sentiment appears confusing due to the immense profit-taking in the past 24 hours. Amid this, XRP, the native token of Ripple Labs, seems promising and is poised for a massive upside rally, as long-term holders have shown strong interest and have been accumulating substantial amounts of tokens. Record $250 Million of XRP …
Trump appoints Mark Uyeda as acting SEC chair, replacing Gary Gensler, a move signaling new SEC leadership change and crypto policy focus.
The post Trump appoints Mark Uyeda as acting SEC chair appeared first on Crypto Briefing.
Memecoin traders struggle to sift signal from noise as dozens of imitators launch Trump-themed tokens.
Members of the US Commodity Futures Trading Commission also announced on Jan. 20 that Caroline Pham would serve as acting chair, filling two crucial regulatory roles.
Bitcoin hit new highs on Jan. 20, but data shows traders are neutral as the market waits to see if a BTC-friendly executive order is issued by President Trump.
World Liberty Financial (WLFI), the DeFi platform tied to President Donald Trump, has undertaken an aggressive push to diversify its crypto portfolio, spending more than $103 million on a mix of established and emerging digital assets. WLFI’s acquisitions represent a significant escalation of its activity since the conclusion of its successful presale, which raised $30 […]
The post World Liberty Financial increases crypto holdings by $103 million after Sun increases backing appeared first on CryptoSlate.
In a latest development, Rumble CEO Chris Pavlovski on January 20, disclosed that the firm had made its first Bitcoin purchase on January 17, in line with its $20 million treasury strategy. He suggested that this would be the first of many, though the exact amount purchased remains undisclosed at the time of writing. With …
Crypto is going to have a much harder time "legitimizing itself" following the frenzy that Trump's meme coin has caused, says Cuban.
World Liberty Financial, a DeFi platform associated with US President Donald Trump, purchased over $100 million in crypto tokens within just a few hours on Jan. 20.
In a latest development, Coinbase has announced support for the TRUMP token on the Solana network. Users must ensure transfers are made exclusively via the Solana network to avoid potential loss of funds. The token is now available for transfers in regions where trading is supported. Coinbase noted that it will add support for the …
Jeremy Allaire expects President Trump to issue several crypto-friendly executive orders.
The phrase 'how to buy crypto' garnered a 100 rating as a Google search term this past week, indicating potential retail interest.
"I don't know how borrowing money to buy bitcoin helps on any of Trump's platforms," Hayes said.
The ether allocation comes amidst leadership changes aimed at improving technical expertise, communication, and support for app builders.