US Job Growth and the Trump Effect
Ripple CEO Brad Garlinghouse said that 75% of Ripple’s open positions are now US-based, citing optimism about Donald Trump’s upcoming presidency. Trump, a crypto advocate, promises to create a national Bitcoin reserve and encourage domestic Bitcoin mining, making the US a leader in the crypto space. Ripple, which had previously focused its hiring outside the US due to legal challenges from the SEC, has seen a significant increase in deals in the US in recent months. However, some, such as former BitMEX CEO Arthur Hayes, warn that expectations of sweeping policy changes may be unrealistic.
Record Revenues and New Protocols in DeFi
DeFi protocols experienced a major resurgence in 2024. As revenues approach 2021 levels, new platforms have emerged as major contributors. Pump.fun and Jito in the Solana ecosystem attracted attention with their fast monthly growth rates, generating $313 million and $603 million in fees, respectively. Ethena showed great growth by earning $267 million at the end of the year, and more than half of its annual revenue was made in the last three months. MakerDAO earned nearly $40 million in December and $313 million in full-year revenue, but its token value fell 10%. Aave, on the other hand, experienced a strong comeback by earning $389 million in 2024, and its token value increased by more than 200%.
MicroStrategy’s Big Bitcoin Move
MicroStrategy plans to issue $2 billion in perpetual preferred shares to fund its Bitcoin purchases. The company aims to raise $21 billion in equity and $21 billion in fixed-income instruments over the next three years under the “21/21 Plan.” The company, which currently owns 446,400 BTC, has a Bitcoin asset value of approximately $43.7 billion. The planned share issuance is expected to take place in the first quarter of 2025. The company will also hold a meeting to obtain authorization from its shareholders.
FDIC’s Crypto Services Draws Reaction
Coinbase announced that the US Federal Deposit Insurance Corporation (FDIC) has instructed banks to temporarily suspend crypto services. This step has been evaluated by industry leaders such as Coinbase and Ripple as a violation of the constitution and a threat to free market principles. Ripple Legal Director Stuart Alderoty argued that the FDIC is pressuring banks, while Coinbase CEO Brian Armstrong stated that this situation will be taken to court. The crypto sector is preparing for legal action, describing this intervention as “Operation Chokepoint 2.0.”
South Korea Puts Crypto ETFs on Its Agenda
South Korean Stock Exchange President Eun-Bo Jeong, drawing attention to the increasing popularity of Bitcoin ETFs in global markets, stated that crypto-based exchange-traded funds (ETFs) could be introduced to the country’s markets this year. Jeong emphasized the importance of innovative financial products to revitalize capital markets, stating that South Korean financial markets were lagging behind due to the contraction in the economy, decreasing export growth, and geopolitical tensions.
Solana Has Become ‘Resistant’ to Quantum Threats
Solana developers introduced the Solana Winternitz Vault, a hash-based signature system to protect their network against future quantum computer attacks. This system secures user funds against quantum threats by generating new keys for each transaction. However, this feature is not a network-wide update; users are required to use this vault optionally. Quantum-resistant cryptography gained more attention in 2019 with Google’s “quantum supremacy” announcement. Solana’s move is seen as part of efforts to protect against increasing quantum threats in blockchain technology.
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BITCOIN (BTC)
BTC is priced at $99,546 as of the morning hours, gaining 1.24%. A close above the 99,540 level will be important for the continuation of the upward movement. If this level is exceeded, the 103,631 level can be targeted as the next strong resistance area. However, caution should be exercised in case of profit sales from this level. In a downside scenario, the 95.815 level should be watched as a key support level. A break of this level could pull the price down to the 92.232 support level.
ETHEREUM (ETH)
ETH is priced at $ 3,670 as of the morning hours with a 0.90% gain in value. The price broke the previous horizontal resistance level and gained upward momentum. This situation indicates that the bulls are increasing their dominance in the market. Currently, the 3829 level is an important resistance area. If the price tests and breaks this level, higher target levels may come to the agenda. However, a rejection from this area could put the price under downward pressure again. When we look at the support levels, the 3540 level stands out as the first important support. If it falls below this level, the price may pull back to the next support area at 3310.
RIPPLE (XRP)
XRP is trading at $ 2.4120 with a 0.50% increase in value as of the morning hours. XRP managed to stay above the 2.3645 support and seems to have been rejected from the 2.4935 resistance by continuing its upward movement. If this resistance is overcome, the price can be expected to gain momentum towards the 2.6747 level. Closing above this level can strengthen the rise. However, if 2.4935 acts as a strong resistance, the price may fall back to the 2.3645 support. In downward movements, if the 2.3645 support is lost, the price may first test the 2.2305 and then the 2.0741 support levels. Therefore, it is important for investors to carefully monitor the identified critical support and resistance levels.
AVALANCHE (AVAX)
AVAX is trading at $ 43.88 levels with a 1.80% gain as of the morning hours. While AVAX is moving close to the 42.50 resistance, it is trying to close above this level. If the $ 44 resistance is exceeded, the price may first target 45.08 and then 48.25 levels. However, some selling pressure may occur in this region. In the downside scenario, in the event of a return from the 42.50 level, the price may retreat to the 40.06 support. Below this level, support levels of 38.84 and 37.29 should be followed. Therefore, it is important for investors to carefully monitor the determined critical support and resistance levels.
SOLANA (SOL)
SOL is priced at $216 with a 1.24% gain as of the morning hours. The SOL price appears to be stuck between the 214.72 support and the 218.96 resistance. If the 218.96 level is exceeded in the upward movements, the price is likely to move towards the 222.50 and 226.51 resistance zones. The 226.51 level draws attention as a region where selling pressure may increase. In the downside scenario, if the 214.72 support is broken, the price is likely to decline to the $208.67 – $205.11 support band. Further below, the 200.13 level should be followed as the main support. Therefore, it is important for investors to carefully monitor the identified critical support and resistance levels.
