By Shikha Singh
Tether USDT’s Market Cap Drop Linked to ‘Seasonal Holiday Lull’.
Matrixport, a crypto financial services platform, downplays concerns over the recent multibillion-dollar drop in Tether (USDT) market capitalization and trading volumes, stating it does not indicate a bearish turn for the markets.
Since its peak on December 19, 2024, Tether’s market cap has fallen by 2.8%, and daily trading volumes have decreased by 64% from $154 billion in mid-December to $55 billion by January 6, 2025.
Matrixport attributes the decline to the holiday season’s trading slowdown, rather than a shift in market sentiment, and predicts that bullish momentum will likely resume soon.
Solayer Foundation Announces Native Token.
Solayer, a leading restaking application on Solana, has announced the decentralization of its protocol and plans to airdrop its native governance token, $LAYER, in Q1 2025.
The airdrop follows Solayer’s successful Season 1 campaign, which attracted over 200k unique depositors, indicating a large-scale Token Generation Event.
The $LAYER token will initially serve as a governance tool for the Solayer protocol, with future utilities expected in 2025.
The Solayer Foundation, a non-profit entity behind $LAYER, aims to develop a new hardware-focused Solana Virtual Machine (SVM) network and enhance Solana’s application scalability.
Solv Protocol Launches Megadrop 2025 with 4.7 mn Token Rewards.
Solv Protocol is launching its highly anticipated Megadrop on January 7, 2025, offering participants the chance to earn up to 4.7 million SOLV tokens.
The initiative involves two key ways to participate: subscribing to BNB Locked Products or completing Web3 Quests like staking BTCB on the Solv Protocol.
The total distribution will be 588 million SOLV tokens, with a 7% supply cap. The rewards will be based on a combined score from BNB staking and quest performance.
Arthur Hayes-Backed Ethena Labs Reveals Plans To Build Telegram-Based Payments and Savings Tool.
Arthur Hayes, the founder of BitMEX, is backing Ethena Labs, which plans to launch a Telegram-based savings and payment application in 2025.
The app will use USDe, a synthetic dollar stablecoin, allowing users to save, send, and spend within a mobile neobank-like experience.
Apple Pay will integrate with the tool to facilitate seamless payments. Ethena Labs aims to tap into the $50 billion market by leveraging Telegram’s massive user base of over 900 million to provide simple access to payments and savings services.
The platform will target a broad audience, aiming to make financial services as simple as messaging.
TRON Processed Over $2 mn USDT Transfers Daily, With 48% Volume Growth in 2024.
In 2024, TRON (TRX) reached peak activity in handling Tether (USDT) transactions, processing $17.9 billion daily in token transfers.
Despite a slowdown in December, TRON continued to dominate the stablecoin market, holding over $58 billion in USDT and handling more than 2 million daily transactions.
The network saw a significant rise in trading volumes, with TRON surpassing Ethereum in fees produced in early 2025.
TRON accounted for 83% of USDT users, though its transactions tend to be smaller in value per user compared to Ethereum.
$19 tn in Transactions Settled on the Bitcoin network in 2024.
In 2024, Bitcoin’s transaction volume surged to over $19 trillion, more than double the $8.7 trillion settled in 2023, reversing two years of decline.
This highlights Bitcoin’s role as both a store of value and a medium of exchange. The year also saw significant milestones, including the introduction of a Bitcoin exchange-traded fund (ETF), the April 2024 halving event, and Bitcoin reaching a new all-time high of approximately $108,000.
Additionally, Bitcoin’s hashrate hit a record 1,000 exahashes per second in early 2025, with US-based mining pools accounting for over 40% of global hashrate.
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