Bitcoin (BTC) lost support at the $90,000 level on Monday, down to a low of $89,256 on the day. Experts analyzed the state of the market, identifying catalysts like macroeconomic developments in the United States (US) and President-elect Donald Trump’s inauguration as the key movers for BTC. The Artificial Intelligence (AI) category of tokens was the hardest hit, with AI agent launchpad tokens losing nearly 15% of their market cap on Monday.
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AFP VIA GETTY IMAGES Bitcoin, XRP, and other cryptocurrencies were under pressure Wednesday as traders assessed another sharp pullback. But this slump may be different and significant—it appears to be a reaction to U.S. economic data. Bitcoin was trading just above $95,000 early Wednesday, falling from close to $102,000 just 24 hours earlier, according to CoinDesk data. The world’s largest crypto fell 5.7% Tuesday, its largest drop since Dec.18, according to Dow Jones Market Data.
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Tether alone accounted for 33% of the total on-chain revenue. Ethereum outpaces Solana by a mile in revenue collected, in 2024. Tether (USDT), the largest stablecoin issuer with a market cap of $137 billion, has also become a dominant force in the on-chain market, grabbing 33% of the total revenue in December last year. Tether is one of the most profitable crypto firms, in 2024, with most of its profit coming from centralized exchange stablecoin demands. It has gradually built a strong presence in the decentralized market.
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