Michael Barr Resigns as Vice Chairman of the Federal Reserve
Michael Barr, a staunch advocate of stablecoin regulation and the Federal Reserve’s Vice Chairman for Oversight, has announced that he will resign as of February 28, 2025, or earlier if a successor is appointed. Barr will continue to serve on the Federal Reserve Board of Governors in order to avoid distractions and better serve in his role as governor. His resignation comes amid speculation that President-elect Donald Trump could replace him. While Barr has argued that stablecoins need to be placed under strict federal oversight to preserve financial stability, the Federal Reserve is not expected to enact any significant regulation until his successor is confirmed. Despite this, Democrats will hold the majority on the board until 2026, limiting any deregulatory efforts.
Solana Surpasses Ethereum and Base in 24-Hour DEX Trading Volume
Solana has surpassed Ethereum and Base in 24-hour decentralized exchange (DEX) trading volume, reaching nearly $3.8 billion. Ethereum’s volume was recorded at $1.7 billion, while Base’s was recorded at $1.2 billion (according to DefiLlama). This reflects Solana’s growing importance in the decentralized finance (DeFi) space and its challenge to Ethereum’s dominance. Solana’s total value locked (TVL) has also increased significantly, from $1.4 billion in 2024 to over $9.5 billion. This increase was driven by retail investors and interest in memecoins and AI tokens. Solana’s leading DEX platform Raydium has seen a significant increase in trading volumes, with memecoins accounting for a large portion of that volume. The rise reflects Solana’s expanding ecosystem and its appeal to new entrants to the crypto space.
Bitcoin Could Reach $1 Million by 2030, Says Cathie Wood
Ark Invest’s Cathie Wood has reiterated her bold prediction that Bitcoin could reach $1 million by 2030, and potentially even $1.5 million. She argues that Bitcoin is even scarcer than gold, with its supply capped at 21 million, with only 19.8 million currently in circulation. Factors driving demand include institutional adoption, its use as a long-term store of value, and the holding of Bitcoin as a reserve asset by government treasuries. President-elect Donald Trump’s plan to create a strategic Bitcoin reserve for the United States also supports this trend. A $1 million price tag implies a $20 trillion market cap, and Cathie Wood believes strong demand will be key to achieving that goal.
MicroStrategy Buys Another 1,070 Bitcoin
MicroStrategy purchased 1,070 Bitcoin for $101 million between December 30 and 31, 2024, bringing its total Bitcoin holdings to 447,470 BTC. The company announced that its Bitcoin return reached 74.3% for 2024. It provided the financing by selling 319,586 shares during the same period. The company, led by Michael Saylor, is targeting a $21 billion capital increase and $21 billion debt over the next three years as part of its “21/21 Plan.” It also plans to issue unlimited-term preferred stock to raise $2 billion.
Metaplanet Aims to Increase Bitcoin Holdings by 470% in 2025
Tokyo-based investment firm Metaplanet aims to increase its Bitcoin holdings by 470% to reach 10,000 BTC by 2025. The company made 19 acquisitions in 2024, bringing its total holdings to 1,761.98 BTC ($173.6 million). The firm, which made its largest acquisition in December with 619.7 BTC for 9.5 billion yen, stated that it will focus on creating shareholder value. CEO Simon Gerovich said they will use “the most profitable market instruments” in their Bitcoin accumulation strategies. The company’s BTC return increased from 42% to 310% in 2024. This aggressive target in 2025 is supported by Bitcoin’s price estimates of $180,000 – $200,000.
MARA Holdings Lended 7,377 BTC
MARA Holdings announced that it used 7,377 BTC, which constitutes 16% of its total 44,893 BTC, to lend to third parties. The company stated that with this transaction, it achieved a return of less than 10% with short-term agreements. MARA, which produced 890 BTC in December, reached its second-highest production figure since the reward halving in April. The company’s CEO, Fred Thiel, highlighted that MARA recorded a 168% annual hash rate growth in 2024, exceeding the Bitcoin network growth rate.
Phoenix Group Expands Bitcoin Mining in the US
Abu Dhabi-based Phoenix Group is expanding its presence in the US by opening a 50 MW crypto mining facility in North Dakota. The facility will add 2.7 exahashes of mining power when it’s at full capacity. The company’s CEO, Reza Nedjatian, emphasized that the US is a strategic market. Phoenix Group previously opened a 25 MW facility in South Carolina and is the largest crypto mining operator in the MENA region, with a total capacity of 765 MW in the US, Canada, and the UAE. Listed on the Abu Dhabi Securities Exchange in 2023, Phoenix Group raised $370 million with its IPO and aims to be listed on Nasdaq by 2025.
Injective Increases Price with Transition to 3.0
Injective continues to increase its price as community members approve the Injective 3.0 update. The INJ token rose for six days, reaching $26. This increase is associated with the 3.0 update, which offers new deflationary features. The update aims to increase the deflation rate by 400% by adjusting the token supply according to the amount of INJ staked. Injective stands out as one of the highest-yielding crypto assets with its current staking yield of 10.68%. However; Despite the support of investor Mark Cuban, Injective is having difficulty attracting developers to its ecosystem.
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BITCOIN (BTC)
BTC is priced at $ 99,546 as of the morning hours, gaining 1.24% in value. A close above 99,540 will be important for the continuation of the upward movement. If this level is exceeded, 103,631 can be targeted as the next strong resistance zone. However, caution should be exercised in case of profit sales from this level. In a downward movement scenario, 95,815 should be monitored as an important support. A break of this level could pull the price down to the 92,232 support.
ETHEREUM (ETH)
ETH is priced at $ 3,670 as of the morning hours with a 0.90% gain in value. The price has gained upward momentum by breaking the previous horizontal resistance level. This indicates that the bulls are increasing their dominance in the market. Currently, the 3829 level appears as an important resistance zone. If the price tests and breaks this level, higher target levels may come to the fore. However, a rejection from this region may put the price under downward pressure again. When we look at the support levels, the 3540 level stands out as the first important support. In case of a decline below this level, the price may retreat to the next support area at 3310.
RIPPLE (XRP)
XRP is trading at $ 2.4140 as of the morning hours with a 0.25% loss in value. XRP, which has been moving in the horizontal band range for about 4 days, started the new day with minor pullbacks and is trying to hold on to the 2.3645 support level. In upward movements, the 2.4935 level appears as the next resistance. If this resistance is overcome, it can be expected to work as the next resistance level with an increase towards the 2.6747 level. In the downside scenario, a permanent break below 2.3645 could pull the price towards the 2.2305 support area. Further below, 2.0741 should be followed as an important support. It will be important to closely follow the support and resistance levels for the direction.
AVALANCHE (AVAX)
AVAX is trading at $ 43.78 as of the morning hours with a 0.68% loss in value. The price has been rejected from this level after testing the 45.08 resistance level. In upward movements, the 45.08 level stands out as the first strong resistance point. If this level is exceeded, the 48.25 and then the 50.03 levels can be followed as the next resistance zones. In downward movements, the 43.26 and then the 42.50 levels stand out as support. A break below this level could pull the price towards the support levels of 40.06 and 38.84. In particular, the 37.29 – 35.50 area (green zone) should be watched as a strong demand area. Therefore, it is important for investors to carefully monitor the identified critical support and resistance levels.
SOLANA (SOL)
SOL is priced at $ 216 as of the morning hours with a 1% loss in value. SOL, after being rejected from the 222.50 resistance level, seems to have broken the $ 218.96 support with pullbacks. In upward movements, 218.96 and then 222.50 resistance appear as the first obstacle. If it persists above this level, the price may test the main resistance level of 226.51. Breaking this area could trigger an uptrend targeting 233.34. In downward movements, 214.72 should be watched as the first support point. A close below this level could push the price to 211 first, then to the main support level of 208.60 – 205.11. Therefore, it is important for investors to carefully monitor the identified critical support and resistance levels.
