Crypto Trends Chart Book: Understand What is Moving in the Market and Why.
US CPI, Bitcoin, Solana, Trump, Raydium, and many more notable news.
Please find our chart book at the bottom of this report.
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👇1-14) Since we recommended DeepBook on December 17, 2024, the token's price has surged by an impressive 183% in just 30 days, demonstrating the impact of our research. Additionally, insights from our Crypto Trend Chart Book have proven valuable. When we last shared this resource, Ripple’s XRP was highlighted as the top chart, and in just seven days, XRP's price increased by 24%, outperforming nearly all other cryptocurrencies.
👇2-14) Bitcoin (BTC-USD is above the 7-day moving average -> bullish, and is above the 30 day moving average -> bullish, with 1 week change of +10.1%) Massachusetts has introduced legislation to create a 'Strategic Bitcoin Reserve', part of a broader trend in which several U.S. states are considering investing in Bitcoin as part of their stabilization funds. Following the release of U.S. CPI data, Bitcoin saw a price surge, with open interest in Bitcoin futures on exchanges like Binance increasing significantly.
👇3-14) Ethereum (ETH-USDT is below the 7-day moving average -> bearish, and is below the 30-day moving average -> bearish, with 1 week change of -0.1%) There's been discussion about potential leadership changes at the Ethereum Foundation. PostFinance AG in Switzerland has launched an Ethereum staking service for its 2.5 million customers, marking a significant step towards mainstream adoption of crypto staking. Ethereum is preparing for the "Pectra" upgrade, with public testnets anticipated soon. This upgrade and others like history expiry, EOF, and Peerdas are expected to enhance the network's capabilities.
👇4-14) Solana (SOL-USDT is above the 7-day moving average -> bullish, and is above the 30 day moving average -> bullish, with 1 week change of +32.9%) The launch of a Solana based memecoin named $TRUMP has significantly boosted Solana's decentralized exchange (DEX) volumes, reaching $12.9 billion in 24 hours, underlining Solana's market dominance in this area. There's a mix of optimism about Solana's future, with some investors and community members predicting continued growth, especially with the potential ETF approval and increasing institutional interest.
👇5-14) The latest Trump meme coin, referred to as $TRUMP or Official Trump, was officially launched by President-elect Donald Trump on January 17, 2025. It operates on the Solana network. $TRUMP started trading at around $0.18. Capped at 1 billion tokens, with an initial release of 200 million coins. 80% of the tokens are held by CIC Digital LLC (a Trump Organization affiliate) and Fight Fight Fight LLC. The remaining supply will be released over three years in phases. By January 18, 2025, the coin was trading at $31, giving it a fully diluted valuation of about $31.37 billion and a market cap of more than $6.27 billion.
👇6-14) Virtuals Protocol has indeed announced a significant buy-and-burn program for AI agents, allocating over $40 million (12,990,427.85 $VIRTUAL) for this purpose. The initiative aims to use accumulated revenue from post-bonding trading since October 16, 2024, to buy back and then burn tokens of various AI agents over a 30-day period using a Time-Weighted Average Price (TWAP) method. This program is expected to benefit several top agents, including GAME, CONVO, AIXBT, SEKOIA, and MISATO. The immediate impact of this announcement was a surge in the value of these agent tokens, with some like AIXBT and GAME seeing nearly 40% increases. This move is part of Virtuals Protocol's strategy to create a deflationary effect, potentially increasing the value of the remaining tokens and attracting more developers to build AI agents on their platform.