BY Shikha Singh
XRP Surpasses Bitcoin as Top-Traded Asset on Coinbase.
XRP, the third-largest cryptocurrency by market capitalization, has surpassed Bitcoin (BTC) as the most-traded digital asset on Coinbase, reflecting a shift in US trading preferences.
This surge in demand follows market speculation about the potential approval of a US XRP exchange-traded fund (ETF).
XRP’s popularity also gained momentum after Ripple CEO Brad Garlinghouse met with President-elect Donald Trump.
XRP has seen a significant price increase, rising over 600% to reach $3.40, its highest level since 2017. Its trading volume on Coinbase has grown to 23.8% of the exchange’s total 24-hour volume, highlighting a strong interest in the asset.
Bitcoin Surge Drives $2.19 bn in Options Expiry as Bulls Eye $105K.
Bitcoin (BTC) experienced a surge above $100,000, coinciding with the expiry of 22,000 BTC options contracts worth $2.19 billion.
This rally has generated renewed optimism in the market, with many anticipating further price gains, potentially reaching $105,000.
The market sentiment has shifted positively, particularly as pro-Bitcoin President-elect Donald Trump prepares to take office next week, which could lead to favorable policies for cryptocurrencies.
Meanwhile, Ethereum also saw a significant options expiry, though its performance has been more subdued compared to Bitcoin.
Ethereum’s price is rising, but at a slower pace than Bitcoin’s, reflecting a broader focus on Bitcoin in the market.
Bitcoin (BTC) Hits 7-Year Low on Exchange.
Bitcoin has reached a significant milestone with its exchange reserves at their lowest level in seven years, now at 20.4 million BTC. This reduction in available supply could signal a potential bullish trend, as fewer coins are available for immediate trading and increasing demand. Bitcoin is trading above $100,000, showing strong momentum after breaking important resistance levels.
The shrinking exchange reserves, combined with rising long-term holdings, suggest that investors are confident in Bitcoin’s future, potentially leading to a supply shortage and driving prices toward all-time highs. The next psychological target is $110,000, though a drop below $97,000 could signal a sell-off. Overall, Bitcoin’s technical strength and investor interest point to potential future growth.
Litecoin Price Jumps 18% as ETF Approval Speculation Grows.
Litecoin (LTC) has surged 18% in the past 24 hours, reaching $120.56, amid growing speculation that it could soon receive regulatory approval for a U.S.-based exchange-traded fund (ETF). The optimism stems from an amended filing for a Litecoin ETF that the SEC received on January 15, addressing key regulatory concerns and perceived as a positive step towards approval.
Ripple Stablecoin RLUSD Now Live on the Root Network.
Ripple has expanded the liquidity of its stablecoin, RLUSD, through a new partnership with the Root network.
This collaboration allows users of the metaverse-focused blockchain to buy, hold, and trade RLUSD while also enabling seamless bridging between the Root network and the XRP Ledger via FuturePass.
RLUSD, which launched on the XRP Ledger in December 2024, has gained support from several exchanges, including Archax, Bitso, CoinMENA, MoonPay, and Uphold. It is also available on Ethereum.
Ripple has partnered with Chainlink to boost the stablecoin’s appeal in decentralized finance (DeFi). The company is also exploring additional partnerships, including potential listings on major exchanges like Coinbase and Binance, and is in discussions with Cardano’s founder, Charles Hoskinson, about RLUSD’s potential debut on Cardano’s network.
Bitget Partners With Jambo to Fund Telecom Satellite Launch.
Bitget is partnering with Jambo, a blockchain-native mobile network, to help raise funds for a satellite launch aimed at expanding access to decentralized services.
Jambo plans to raise $5 million through a token sale on Bitget’s LaunchX platform. This collaboration aligns with Bitget’s goal of supporting transformative projects, as Jambo seeks to bridge the digital divide and enhance its Web3 ecosystem.
Jambo’s native token, ‘J,’ will be central to its DeFi ecosystem, and the satellite launch is expected to integrate Jambo’s communication hardware.
While Bitget stands to gain visibility from the launch, the $5 million target may not be sufficient for the satellite launch, as costs typically exceed $10 million. Jambo may need additional funding to complete the project.
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