A Whirlwind Week in Crypto

Hola folks!

Welcome back! The crypto market has been excited since Donald Trump, widely perceived as pro-crypto, emerged victorious in the US presidential elections. In the run-up to the presidential inauguration, Trump and the incoming US First Lady Melania Trump shook up the crypto market by launching TRUMP and MELANIA meme coins!  

Speculation is running high, with BTC touching a new all-time high above $109K. Today’s newsletter highlights the major crypto developments of the past week and how they can impact the market in the coming days. 

The past week has been nothing short of extraordinary for the crypto market. Bitcoin started the week on a bullish note, surging past $105,000, only to dip below $100,000 briefly before making a historic one-hour candle to a new all-time high of $109,588. 

Currently, Bitcoin is consolidating near these elevated levels, as market participants brace for the next big move. Institutional interest surged significantly, with a staggering $979.22 million flowing into spot Bitcoin ETFs on Friday, while Ethereum ETFs saw $23.87 million in inflows—clear signs of growing confidence in digital assets from traditional financial heavyweights.

Meanwhile, Donald Trump’s surprising entry into the crypto space with his official memecoin, $TRUMP, launched on January 19, shook the markets. Initially dismissed as a potential hack, the memecoin turned out to be a real project, reaching a jaw-dropping $77 billion valuation on its debut day, landing it among the top 10 cryptocurrencies by market cap. 

This launch absorbed significant liquidity from other altcoins as capital poured into $TRUMP. The frenzy didn’t stop there—Trump’s associated DeFi project, World Liberty, has been quietly amassing Ethereum, now holding $140 million worth of ETH. The project’s claim to “revolutionize DeFi and CeFi” has sparked debates, with Trump Jr. hinting it’s just the beginning of something much bigger.

From explosive memecoin launches to the resurgence of Solana and Ethereum’s quiet accumulation, this week has shown that the crypto world remains as unpredictable and fascinating as ever. Stay tuned—2025 is already shaping up to be a landmark year.

Solana also found itself in the spotlight, though not without challenges. The launch of the $TRUMP and $MELANIA tokens caused unprecedented congestion on the network, driving 

Solana’s daily transaction fees to a record $35 million—an eye-popping figure for a blockchain known for its low-cost transactions. 

Despite hiccups, Solana’s total value locked (TVL) crossed $10 billion for the first time since the FTX collapse, fueled by the memecoin mania. Meanwhile, broader crypto markets faced turbulence, with over $1 billion in liquidations as Bitcoin briefly dipped, leaving more than 400,000 traders in the red. 

Weekly price movement: 

• BTC $108,516 ⏫ 17.86% 

• SOL $265.00 ⏫ 48.03%

• ETH $3,382 ⏫ 8.28% 

• TRUMP $54.64 ⏫ 760.79%

(All data here as of 4.00 p.m., 20 January 2025)

Before we conclude, here’s a quick look at some important news from around the crypto world.

• Ethereum’s developers have finally delivered a timeline for the chain’s next big upgrade, Pectra, which promises to introduce an array of speed and efficiency improvements to the second-largest blockchain. Read more here.

• The “official” memecoin of incoming US President Donald Trump has boosted interest in Solana, leading to a surge in both its price and trading volume, which in turn helped the total dollar value locked (TVL) on the network's top $10 billion for the first time since the collapse of FTX. Read more here. 

That’s it for now. Thanks for sticking around.

See you later, folks! 👋

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