By Shikha Singh
Solana 24-hour DEX Volume beats Ethereum, Base Combined.
The Solana network has surpassed Ethereum and Base combined in 24-hour decentralized exchange (DEX) trading volume, according to data from DefiLlama.
According to DefiLlama, daily trading volume across Solana-based DEXs neared $3.8 billion on Jan. 6, versus $1.7 billion for Ethereum and $1.2 billion for Base, Ethereum’s most popular layer-2 scaling network.
The growing trading volume highlights the Solana network’s expanding role in decentralized finance (DeFi) and its position as a competitor to Ethereum.
Ramaswamy’s Strive Asset Management Files for Bitcoin Bond ETF.
Strive Asset Management, co-founded by Vivek Ramaswamy, has filed for a Bitcoin Bond ETF with the U.S. Securities and Exchange Commission (SEC).
This ETF, if approved, will allow traditional financial institutions to invest in Bitcoin through bonds, with trading set to occur on the New York Stock Exchange (NYSE).
The fund plans to allocate over 80% of its exposure to company-issued Bitcoin bonds, including derivatives, swaps, and options related to Bitcoin firms.
The ETF will distribute income weekly and operate within the EA Series Trust framework.
Gemini Agrees to a $5 mn Penalty As Part Of Proposed CFTC Order.
The US Commodity Futures Trading Commission (CFTC) has reached a proposed agreement with Gemini Trust Company to resolve a civil case, which, if approved by a judge, would prevent a trial.
Gemini would be required to pay a $5 million penalty and refrain from making false statements to the CFTC under the terms of the consent order.
The case stems from Gemini’s 2017 attempt to offer Bitcoin futures contracts, where the CFTC alleged the company made misleading statements and did not disclose favorable fee arrangements with certain market participants.
The proposed order also requires Gemini to admit that its statements were false or misleading. A federal judge has set the civil trial start date for January 21, 2025, with no further delays permitted.
The CFTC has recovered over $17 billion in penalties from various crypto firms in the 2024 fiscal year and is actively pursuing additional cases against crypto firms.
Crypto ETPs Start 2025 With $585 mn Inflows.
Cryptocurrency ETPs started 2025 strong, with $585 million in inflows during the first three days of the year.
However, the heavy selling in the last days of 2024 led to $75 million in net outflows for the previous week. Despite this dip, 2024 was a record year for crypto ETFs, with $44.2 billion in inflows, a 320% increase from 2021.
Bitcoin-led ETPs accounted for the bulk of these inflows, with $38 billion, while Ether-based ETPs saw $4.8 billion in inflows.
The total assets under management (AUM) for crypto ETPs reached $160.6 billion in 2024, with notable contributions from XRP and multi-asset products.
The US was the largest buyer of crypto ETPs, contributing $44.5 billion, while Canada was the biggest seller, with $707 million in outflows.
Bitcoin ETFs Roar Back With Second Day of $900 mn Inflows.
United States-based spot Bitcoin exchange-traded funds (ETFs) saw a strong rebound in early January 2025, recording nearly $1.9 billion in net inflows on January 3 and January 6, following a period of low demand in December.
The largest inflows came from the Fidelity Wise Origin Bitcoin Fund, which attracted $370.2 million, followed by BlackRock’s iShares Bitcoin ETF and ARK 21Shares Bitcoin ETF. Other ETFs, such as Bitwise and Grayscale’s Bitcoin ETFs, also saw significant inflows.
Iris Energy Boosts Bitcoin Mining Capacity and Expands AI Services.
Iris Energy reported a significant increase in Bitcoin mining capacity and efficiency, achieving a 450% growth in hashrate and a hardware profit margin of 77%.
The company mined 529 Bitcoins in December, generating $52.1 million in revenue, and is on track to expand its capacity to 50 EH/s by the first half of 2025.
Additionally, the company continued its expansion in AI and HPC services, enhancing its market positioning with the installation of nearly 1,900 NVIDIA GPUs.
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