Market Update 15th January 2025
By Shikha Singh
Bitcoin’s recent price action has been highly volatile, dipping below $90,000 for the first time in months but quickly recovering to nearly $97,000.
It had peaked above $102,000 last week before a sharp decline, losing over $10,000 in just 48 hours.
Despite this, the bulls stepped in, preventing further breakdowns and helping Bitcoin recover, with its market cap now over $1.91 tn and its dominance nearing 55%.
Ethereum also faced significant struggles, dipping below $3,000, but has since rebounded to around $3,250, showing strong recovery alongside other altcoins.
Notable performers include XRP, which surged by over 13%, reaching an intraday high of $2.87 before settling at $2.80, just 17% away from its all-time high.
Chainlink introduced its Cross-Chain Interoperability Protocol (CCIP) v1.5, an upgrade that enhances cross-chain token deployment.
This allows developers to deploy Cross-Chain Tokens (CCTs) seamlessly across multiple blockchains, offering increased control, zero-slippage transfers, and simplified integration.
As a result of the upgrade, LINK’s price rose by 6%, hitting $20.60, with whales purchasing large amounts of the token.
Even more impressive daily gains come from XRP, SOL, DOGE, ADA, SUI, LINK, HBAR, APT, and AAVE. The case with AAVE is particularly impressive as it has risen by over 11%.
The cumulative market capitalization of all crypto assets has recovered $200 billion in a day and is up to $3.5 trillion.
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