Grayscale Ethereum Mini Trust (ETH) Common units of fractional undivided beneficial interest (ARCA: ETH)

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Las salidas de Ethereum (CRYPTO: ETH) de Grayscale han experimentado una caída del 80%, lo que podría indicar la llegada de un rally.

Grayscale reduce salidas de Ethereum y podría impulsar un rally

Grayscale Ethereum Mini Trust (ETH) Common units of fractional undivided beneficial interest

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Ethereum's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) recent weekend pump to $2,826 sparked hopes of a sustained rally. But the <a href="https://www.benzinga.com/money/ethereum-eth-price-predictions">optimism was short-lived</a>.
What Happened: A quick retrace to $2,700 left traders questioning whether the uptrend is merely delayed or if Ethereum remains vulnerable.  
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;</td>
<td>Market Cap</td>
<td>24-Hour Trend</td>
<td>7-Day Trend</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>&nbsp;$2,677.31</td>
<td>$322.7 billion</td>
<td>-4.4%&nbsp;</td>
<td>&nbsp;+0.8%</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>&nbsp;$95,415.78</td>
<td>$1.89 trillion</td>
<td>-0.9%</td>
<td>-1.6%&nbsp;</td>
</tr>
<tr>
<td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td>
<td>&nbsp;$2.55</td>
<td>$147.9 billion</td>
<td>-4.6%&nbsp;</td>
<td>+3.6%&nbsp;</td>
</tr>
</tbody>
</table>
</figure>
Trader Notes: Crypto trader Michael van de Poppe commented that Ethereum's failure to close above key levels means the "party got delayed" and expects another test of the lows before a potential move higher.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Seems like the party got delayed. Daily couldn&#39;t close above the crucial area for <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>. Another test of the lows before rotating upwards? <a href="https://t.co/zHplZBHyPo">pic.twitter.com/zHplZBHyPo</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1891791518102384981?ref_src=twsrc%5Etfw">February 18, 2025</a></blockquote>
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Santiment <a href="https://x.com/santimentfeed/status/1891625787620577568">data</a> shows Ethereum supply on exchanges dropped to a record low of 6.38%, signaling long-term accumulation. Community interest has risen in February, with traders anticipating a recovery after ETH underperformed against large caps in 2024.
Daan Crypto Trades <a href="https://x.com/DaanCrypto/status/1891770650814976112">observed</a> that ETH has fully retraced in both price and open interest, shedding most of the $1.5 billion added during the pump. He warns that aggressive long positioning on small green days is unsustainable without stronger spot demand—which is currently lacking.
Statistics: Industry expert Quinten <a href="https://x.com/QuintenFrancois/status/1891751960107192496">highlighted</a> that Ethereum whale holdings (10,000 to 100,000 ETH) have surged from 3,400 in January to over 4,000 currently, per CryptoQuant.
IntoTheBlock data shows Ethereum large transaction volume expanded by 83.3% and exchanges netflows by 815.2% in a single day. Daily active addresses dropped by 1.7%. Transactions greater than $100,000 surged from 3,711 to 6,682.
Glassnode <a href="https://x.com/glassnode/status/1891487193140543632">data </a>shows U.S. Spot Ethereum ETFs saw net inflows of 145,000 ETH in February—nearly 7x the total inflows of January.
Coinglass data shows Ethereum open interest spiked to $24.4 billion, highest since Feb 4. In the past 24 hours, Ethereum liquidations stood at $48.5 million.
Community News: Asset manager Brevan Howard Digital's Abu Dhabi branch allocated $20 million to Kinto, an Ethereum layer-2 platform with built-in compliance mechanisms, CoinDesk <a href="https://x.com/CoinDesk/status/1891493268807885136">reported</a>.
Also, Ethereum's <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43763591/ethereum-slashes-fees-by-70-ahead-of-pectra-fusakas-april-rollout">network fees dropped by 70%</a> over the past week, ahead of Pectra and Fusaka upgrades in April 2025.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43693232/could-ethereum-finally-see-a-god-candle-thanks-to-staking-etfs">Could Ethereum Finally See A &#8216;God Candle&#8217; Thanks To Staking ETFs?</a></li>
</ul>
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$BTC

$XRP

Ethereum Struggles To Hold $2,700: Is The Rally Just Delayed?

Whales collected hundreds of millions of dollars in Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), capitalizing on the world&#8217;s second-largest cryptocurrency&#8217;s subdued rates.
What Happened: Two substantial Ethereum withdrawals from cryptocurrency exchanges were reported by on-chain tracking platform Lookonchain in a Monday X post.
The first withdrawal involved 56,909 ETH, worth 151.6 million, from Binance, while the second whale accumulated a combined 64,603 ETH, valued at $171.8 million, from Binance and Bitfinex. Both transactions occurred within a 48-hour window.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It seems that whales are accumulating <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>! 0xb99a&#8230;BcF5 withdrew 56,909 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($151.6M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> 4 hours ago. 0xEd0C&#8230;4312 withdrew 64,603 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($171.8M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> and <a href="https://twitter.com/hashtag/Bitfinex?src=hash&amp;ref_src=twsrc%5Etfw">#Bitfinex</a> in the past 48 hours.<a href="https://t.co/hLMs0ziEUI">https://t.co/hLMs0ziEUI</a><a href="https://t.co/TXrSYqOSKQ">https://t.co/TXrSYqOSKQ</a> <a href="https://t.co/a6Oe20q946">pic.twitter.com/a6Oe20q946</a>
&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1889169910032650631?ref_src=twsrc%5Etfw">February 11, 2025</a></blockquote>
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These withdrawals were part of a market-wide phenomenon, as Ethereum recorded net exchange outflows of over $51 million in the last 24 hours, <a href="https://app.intotheblock.com/?end_offset=20">according </a>to data from IntoTheBlock. Typically, when more funds exit exchanges than they enter, it suggests a bullish outlook. 
Additionally, a 16% jump in transactions valued over $100,000 indicated a renewed interest among whale investors in accumulating ETH.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/02/43584910/man-who-accidentally-lost-his-775-million-bitcoin-stash-expresses-desire-to-buy-the-landfill-site">Man Whose $775 Million Bitcoin Fortune Lies Buried In A Landfill Now Wants To Buy The Trash Heap</a>
Why It Matters: The accumulation by large investors comes at a time when Wall Street hedge funds <a href="https://in.benzinga.com/markets/cryptocurrency/25/02/43586765/wall-streets-ethereum-short-positioning-skyrockets-the-extreme-positioning-has-caused-eth-to-underperform-bitcoin-says-analyst">have been increasingly betting against ETH</a>. A report suggested that the short positioning has surged by 40% in a week&#8217;s time and 500% since November. 
ETH was also the least popular of the three largest cryptocurrencies, <a href="https://trends.google.com/trends/explore?date=today%201-m&amp;geo=US&amp;q=ethereum,XRP,Bitcoin&amp;hl=en">according </a>to Google Trends data, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) generating much higher search interest.
Interestingly, Eric Trump, President Donald Trump&#8217;s son, <a href="https://in.benzinga.com/markets/cryptocurrency/25/02/43484922/bitcoin-ethereum-dogecoin-drops-as-trumps-crypto-czar-announces-oversight-committee-eric-trump-says-great-time-to-add-eth">suggested last week on X</a> that "it's a great time to add ETH," potentially influencing decisions of certain players.
Price Action: At the time of writing, Ethereum was exchanging hands at $2,716.83, up 3.25% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. Year-to-date, the coin has endured losses of over 18%.
Image via Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43581896/analyst-who-nailed-2021-crypto-collapse-now-says-worst-of-bitcoin-could-come-in-next-few-weeks">Analyst Who Nailed 2021 Crypto Collapse Now Says Worst Of Bitcoin Could Come In Next Few Weeks</a></li>
</ul>

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$SOL

Week After Eric Trump Said 'Great Time To Add ETH,' Whales Stock Up Over $300 Million In Ethereum — What's Cooking

Cryptocurrencies themed on video game retailer GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) were up in the green Monday, buoyed by interest in CEO Ryan Cohen&#8217;s picture with Strategy co-founder Michael Saylor.&nbsp;
What happened: Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based GameStop soared nearly 50% in the last 24 hours, with its trading volume surging by 37% to $1.83 million, <a href="https://coinmarketcap.com/currencies/gamestop/">according</a> to CoinMarketCap.&nbsp;&nbsp;
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 10:30 p.m. ET)</td>
</tr>
<tr>
<td>GameStop (GME)</td>
<td>+49.52%</td>
<td>$0.0001924</td>
</tr>
<tr>
<td>GmeStop (GME)</td>
<td>+3.54%</td>
<td>$0.001948</td>
</tr>
</tbody>
</table>
</figure>
The rise alleviated some of the coin&#8217;s problems, which had lost more than 33% over the last month.
Similarly, Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based GmeStop, with a much lower market capitalization, rose over 3% in the last 24 hours.&nbsp;
It's worth noting that these coins aren&#8217;t directly tied to GameStop but rather seek to capitalize on the hype surrounding the meme stock.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/02/43584910/man-who-accidentally-lost-his-775-million-bitcoin-stash-expresses-desire-to-buy-the-landfill-site">Man Whose $775 Million Bitcoin Fortune Lies Buried In A Landfill Now Wants To Buy The Trash Heap</a>
The uptick comes after <a href="https://in.benzinga.com/trading-ideas/movers/25/02/43605313/gamestop-stock-is-surging-monday-whats-going-on">Cohen posted a picture with Saylor</a> on X over the weekend, spurring speculations that the company could be leaning toward Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) investments.
Strategy, formerly known as MicroStrategy, is the largest corporate holder of Bitcoin, and Saylor is known for consistently <a href="https://in.benzinga.com/markets/cryptocurrency/25/02/43583287/michael-saylor-declares-death-to-blue-lines-long-live-green-dots-is-strategys-btc-purchase-streak-about-to-resume">pushing for the asset's adoption</a>.&nbsp;
GameStop has been one of the most popular retail stocks in the last few years, helped by the historic 2021 meme stock craze that saw the stock squeeze higher. Keith Gill, also known as <a href="https://www.benzinga.com/topic/roaring-kitty">&#8220;Roaring Kitty,"</a> has been influencing GameStop price action with cryptic posts on X.
Price Action: Shares of GameStop soared 9.66% to $27.12 during Monday&#8217;s regular session and were up 0.99% in after-hours trading, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Photo by Igor Faun on Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43581896/analyst-who-nailed-2021-crypto-collapse-now-says-worst-of-bitcoin-could-come-in-next-few-weeks">Analyst Who Nailed 2021 Crypto Collapse Now Says Worst Of Bitcoin Could Come In Next Few Weeks</a></li>
</ul>

$DOGE

GameStop-Themed Crypto Rallies 50% After Ryan Cohen Posts Intriguing Photo With Bitcoin Bull Michael Saylor

The cryptocurrency market saw multiple headwinds last week, resulting in a large decline in market value. However, a few coins overcame the slump to post significant gains.
What happened: HYPE, the native token of the decentralized exchange Hyperliquid, topped the biggest gainers list, rallying 7.5% over the week. The coin accumulated massive gains of 586% over the last year
Hyperliquid is a decentralized trading platform that utilizes its own Layer-1 blockchain.
Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based DEXE token was the second-highest gainer, marginally trailing HYPE in weekly returns. Like HYPE, DEXE was coming off a successful 2024, with a 625% increase over the year.
DeXe is the governance token of the DeXe Protocol—a tool used for creating and governing decentralized autonomous organizations.&nbsp;
Similarly, OM, the token associated with the layer-1 blockchain MANTRA, rallied over 6% to become the third-most cryptocurrency in the last 24 hours. The cryptocurrency hit a record high of $5.87 last week and is one of the few to record sizable year-to-date gains, at nearly 29%.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price</td>
</tr>
<tr>
<td>Hyperliquid (HYPE)</td>
<td>+7.56%</td>
<td>$22.58</td>
</tr>
<tr>
<td>DeXe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">DEXE</a>)</td>
<td>+7.41%</td>
<td>$21.22</td>
</tr>
<tr>
<td>MANTRA (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/om/usd">OM</a>)</td>
<td>+6.28%</td>
<td>$4.97</td>
</tr>
</tbody>
</table>
</figure>
Elsewhere, the market didn't paint a rosy picture. Blue-chip coins like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) sank 7.11% and 20.56%, respectively.
XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) also corrected sharply on Sunday, bringing their weekly losses to 26.56% and 15.25%.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/02/43425216/elon-musk-supports-putting-treasury-department-operations-on-blockchain-to-fix-irregularities">Elon Musk Says Treasury Officials &#8216;Breaking The Law Every Hour&#8217; By Approving Fraudulent Payments — DOGE Lead Wants A Blockchain Fix</a>
XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) also corrected sharply on Sunday, bringing their weekly losses to 26.56% and 15.25%.
Meme coin heavyweights also bled profusely, with Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) falling 28.93% and 19.65%, respectively.
Two significant events jolted capital markets last week. First, <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43248978/could-bitcoin-see-a-deeper-dip-on-the-deepseek-ai-shock">China&#8217;s groundbreaking AI</a> model DeepSeek threatened the supremacy of U.S.-based IT behemoths, and second, President Donald Trump&#8217;s <a href="https://www.benzinga.com/news/global/25/02/43423781/trumps-trade-tariffs-to-close-e-commerce-loophole-favoring-chinese-online-retailers">tariff conflict</a> with neighboring countries such as Canada and Mexico.
Overall, the total cryptocurrency market capitalization fell 11.66% over the week to $3.03 trillion.
Photo by CMP_NZ on Shutterstock
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43423466/how-does-pete-hegseth-feel-about-bitcoin-his-financial-filings-reveal-the-answer">How Does Pete Hegseth Feel About Bitcoin? His Financial Filings Reveal The Answer</a></li>
</ul>

$DEXE

$SHIB

Bitcoin, Dogecoin Ended Last Week On A Gloomy Note But These Coins Remained Resilient

January was a month of significant development in the cryptocurrency space. A meme coin directly linked to the president of the U.S. was launched and quickly became a big talking point worldwide, running into billions of dollars in capitalization on the way.
However, despite the frenzy and impressive returns, the Official Trump coin was not the most profitable cryptocurrency this month. Onyxcoin stole the limelight.
What happened: The Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)&#8211;based token exploded nearly 1400% in January, topping the monthly gainers list for the month.
XCN crossed a billion dollars in market capitalization on Jan. 26,&nbsp; a dramatic increase from a little over $70 million at the beginning of the year. Such values were last seen more than two years ago in Nov. 2022.
XCN, the governance and utility token of the Web3 protocol Onyx, skyrocketed following the resolution of a long-standing <a href="https://x.com/OnyxDAO/status/1882862572254441640?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1882862572254441640%7Ctwgr%5Ec104b2f2f91af9c920980c0171540a84faa24564%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Fwww.coinspeaker.com%2Fsleeping-giant-onyxcoin-xcn-awakens-with-massive-800-price-surge-over-two-weeks%2F">issue</a> with Justin Sun, founder of the Tron (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/trx/usd">TRX</a>) blockchain.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Monthly Gains +/-</td>
<td>Price (Recorded on Jan. 31, 1:30 a.m ET)</td>
</tr>
<tr>
<td>Onyxcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">XCN</a>)</td>
<td>+1397.22%</td>
<td>$0.03445</td>
</tr>
<tr>
<td>Official Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>)</td>
<td>+296.09%</td>
<td>$25.69</td>
</tr>
<tr>
<td>Raydium (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">RAY</a>)</td>
<td>+54.39%</td>
<td>$7.53</td>
</tr>
</tbody>
</table>
</figure>
The TRUMP meme coin took the second spot, clocking a fourfold jump since it was launched two weeks ago, just ahead of Trump's presidential inauguration.&nbsp;
The token <a href="https://www.benzinga.com/25/01/43257114/donald-and-melania-trump-memecoins-defy-market-lull-with-rallyanalyst-says-trump-bottomed-out-at-25">reached a fully diluted valuation</a> of $75 billion shortly after its debut but has since plummeted over 65%.&nbsp;
Entities affiliated with The Trump Organization control 80% of the coin&#8217;s supply, fueling speculation that the president is personally profiting from the market moves. The coin has a 20% supply open for public trading.&nbsp;&nbsp;
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/01/43325381/elon-musks-tesla-racks-up-600-million-paper-gains-on-bitcoin-in-q4">Elon Musk&#8217;s Tesla Records $600 Million In Paper Gains On Bitcoin In Q4 Thanks To New Accounting Rule</a>&nbsp;
Alongside, XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) and Litecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ltc/usd">LTC</a>) made notable advances, at 46.13% and 23.38%, respectively.
A new-look SEC, under a cryptocurrency-friendly administration, roused XRP investors, as the coin, once mired in legal squabbles, <a href="https://www.benzinga.com/25/01/43019913/xrp-soars-to-a-7-year-high-becomes-third-most-valued-crypto-even-as-sec-files-appeal-challenging-2023-verdict-in-ripple-labs-case">ascended to become the market&#8217;s third-largest cryptocurrency</a>.
LTC reacted to the <a href="https://in.benzinga.com/trading-ideas/movers/25/01/43328116/litecoin-spikes-over-11-after-sec-acknowledges-etf-filing-market-regulator-says-ltc-very-similar-to-bitcoin">progress on its exchange-traded fund application</a>, with analysts predicting that the next Wall Street cryptocurrency ETF will be tied to the proof-of-work coin.
Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) gained 11% in January, while Ethereum fell by 2.26%.
Photo by Avi Rozen on Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/25/01/43326463/former-senator-bob-menendez-who-said-bitcoin-will-open-doors-of-corruption-in-el-salvador-gets-11-year-jail-term-for-accepting-bribes">Former Senator Bob Menendez Who Said &#8216;Bitcoin Will Open Doors Of Corruption In El Salvador&#8217; Gets 11-Year Jail Term For Accepting Bribes</a></li>
</ul>

$LTC

$RAY

$TRUMP

$TRX

$XCN

Not Trump Coin But This Token With A Whopping 1400% Rally Was The January Chart Topper

BitMEX co-founder Arthur Hayes forecasts a significant correction in Bitcoin&#8217;s (CRYPO: BTC) price to $70,000-$75,000, followed by a potential surge to $250,000 by year-end, amid growing market volatility and concerns of a &#8220;mini financial crisis.&#8221;
What Happened: Hayes, who shared his outlook on X on Monday, plans to detail his analysis in a forthcoming essay series titled &#8220;The Good, The Bad, The Ugly.&#8221; The prediction comes as Bitcoin trades near $98,917, down 3.76% in the last 24 hours, following a sharp decline from recent highs above $105,000.
The cryptocurrency market has seen substantial liquidations, with approximately $400 million wiped out in just four hours of trading on Sunday evening. Long positions <a href="https://www.benzinga.com/25/01/43220101/bitcoin-ethereum-dogecoin-plummet-alongside-stock-futures-amid-trumps-tariff-war-deepseek-hype-top-trader-predicts-bitcoins-upside-to-122000">accounted for $389 million of these liquidations</a>, suggesting growing bearish sentiment among traders.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Reversing the order of my tryptic essay series. The Ugly will be published tomorrow morning. I am calling for a $70k to $75k correction in <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>, a mini financial crisis, and a resumption of money printing that will send us to $250k by the end of the year. <a href="https://t.co/XxT4VFyzu4">pic.twitter.com/XxT4VFyzu4</a>
&mdash; Arthur Hayes (@CryptoHayes) <a href="https://twitter.com/CryptoHayes/status/1883682062647038370?ref_src=twsrc%5Etfw">January 27, 2025</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I will drop a new tryptic essay series &quot;The Good, The Bad, The Ugly&quot; over the next eight weeks. So much to discuss I had to split it up. The Good &#8211; The impact of political memecoins The Bad &#8211; US crypto is at risk of getting cucked The Ugly &#8211; A Q1 market crash
&mdash; Arthur Hayes (@CryptoHayes) <a href="https://twitter.com/CryptoHayes/status/1882579082204053680?ref_src=twsrc%5Etfw">January 24, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/25/01/43221328/jd-vance-prices-are-going-to-come-down-but-its-going-to-take-time-as-trumps-energy-policies-start-to-take-effect">JD Vance: &#8216;Prices Are Going To Come Down, But It&#8217;s Going To Take Time,&#8217; As Trump&#8217;s Energy Policies Start To Take Effect</a>
Why It Matters: Technical analysts remain divided on Bitcoin&#8217;s trajectory. Cryptocurrency analyst Ali Martinez points to the invalidation of a head-and-shoulders pattern, suggesting a potential upside target of $122,000. Meanwhile, cryptocurrency chartist Rekt Capital emphasizes the significance of Bitcoin&#8217;s recent weekly closes above <a href="https://www.benzinga.com/25/01/43220101/bitcoin-ethereum-dogecoin-plummet-alongside-stock-futures-amid-trumps-tariff-war-deepseek-hype-top-trader-predicts-bitcoins-upside-to-122000">major resistance levels</a>, historically a precursor to new all-time highs.
Major cryptocurrencies including Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) have also experienced significant declines, falling 5.60% and 7.50% in the last 24 hours, respectively.
This market volatility coincides with wider economic factors, including President Donald Trump&#8216;s new tariffs on imports and anticipation of the Federal Reserve&#8217;s upcoming meeting. The CME FedWatch tool indicates a 99.5% probability that interest rates will remain unchanged at Wednesday&#8217;s meeting.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/01/43220029/bill-gates-says-he-supports-doge-department-but-doesnt-want-elon-musk-to-cut-off-certain-funding-the-deficit-needs-to-be-brought-down">Bill Gates Says He Supports DOGE Department, But Doesn&#8217;t Want Elon Musk To Cut Off Certain Funding: &#8216;The Deficit Needs To Be Brought Down&#8217;</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

'Mini Financial Crisis' For Crypto Incoming? Arthur Hayes Predicts Bitcoin Dropping To $75K Before Skyrocketing To $250K By Year-End

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) spot <a href="https://www.benzinga.com/etfs">ETFs</a> registered inflows of $3.26 billion and $74.43 million, respectively, over the past four days.
The surge comes despite President Donald Trump&#8216;s unexpected omission of crypto-talk in his inauguration speech and the following volatility in the cryptocurrency market.
The record inflow occurred on Jan. 17, Sosovalue data shows. Some $1.08 billion flowed into various Bitcoin funds. On Jan. 21, the inflows were $802.5 million. 
<h3 class="wp-block-heading">Bitcoin ETFs</h3>
<ul>
<li>BlackRock&#8217;s iShares Bitcoin Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) gained the most with $661.86 million net inflows.</li>
<li>Grayscale&#8217;s Bitcoin Mini Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTC#NYSE">BTC</a>) saw an inflow of $136.39 million</li>
<li>ARK 21Shares Bitcoin ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#NYSE">ARKB</a>) brought in $8.51 million.</li>
<li>Fidelity Wise Origin Bitcoin Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FBTC#BATS">FBTC</a>) attracted $6.97 million.</li>
</ul>
Only Bitwise&#8217;s Bitcoin ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITB#NYSE">BITB</a>) experienced an outflow for the day, with the fund losing $17.41 million. 
Bitcoin spot ETFs collectively manage $123.59 billion net asset value. That&#8217;s equal to about 5.88% of Bitcoin&#8217;s total market value.
See Also: <a href="https://www.benzinga.com/etfs/new-etfs/25/01/43129309/new-bond-etf-aims-for-high-income-through-flexible-multi-asset-strategy">New Bond ETF Aims For High Income Through Flexible Multi-Asset Strategy</a>
<h3 class="wp-block-heading">Ethereum ETFs</h3>
<ul>
<li>BlackRock&#8217;s iShares Ethereum Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETHA#NASDAQ">ETHA</a>) led the way with $56.31 million. </li>
<li>Grayscale&#8217;s Ethereum Mini Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETH#NYSE">ETH</a>) fund brought in $12.49 million</li>
<li>VanEck Ethereum ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ETHV#BATS">ETHV</a>) attracted $3.65 million</li>
<li>Fidelity&#8217;s Ethereum Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FETH#BATS">FETH</a>) gained $3.32 million.</li>
</ul>
Overall, nine spot Ether ETFs now manage $12.07 billion in assets, which is equivalent to about 3% of Ether&#8217;s market capitalization.
Trump&#8217;s reticence on cryptocurrency at his inauguration was blamed for Bitcoin falling from $106,000 before the president&#8217;s address to $101,000 during the speech, It&#8217;s currently hovering at around $104,000. 
Solana was also under pressure and fell almost 10% from its all-time high. Investors may be betting on the long-term vision of the future of crypto and taking this as an opportunity to enter the crypto world.
See Next: 
<ul>
<li><a href="https://www.benzinga.com/etfs/sector-etfs/25/01/43135764/trumps-500-billion-stargate-ai-plan-puts-3-etfs-in-focus">Trump's $500 Billion Stargate AI Plan Puts 3 ETFs In Focus</a></li>
</ul>
Photo: Shutterstock

Sector ETFs

ETFs

ARK 21Shares Bitcoin ETF ARK 21Shares Bitcoin ETF

ARKB

Bitwise Bitcoin ETF Common Shares of Beneficial Interest

BITB

ETHV

Fidelity Wise Origin Bitcoin Fund Fidelity Wise Origin Bitcoin Fund

FBTC

IBIT

Bitcoin, Ethereum ETFs Attract Record Inflows Despite Market Volatility, Policy Uncertainty

A popular cryptocurrency analyst expressed concerns over Ethereum&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) underwhelming performance and assessed its future prospects on Monday.
What Happened:&nbsp;In a series of X posts, Ali Martinez, known for identifying chart patterns and issuing price predictions, called Ethereum one of the &#8220;weakest&#8221; performers in the cryptocurrency market in recent days.
The concerns were not unfounded. The second-largest cryptocurrency has dropped about 2.5% in value since 2025 began, as opposed to the gains accumulated by other large-cap coins like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), and XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>).
Martinez noted that Ethereum&#8217;s network adoption has slowed down considerably, with the number of new ETH addresses declining by 9.32% over the past week. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> has been one of the weakest performers lately, and even <a href="https://twitter.com/VitalikButerin?ref_src=twsrc%5Etfw">@VitalikButerin</a> has decided to shake things up by changing the <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> Foundation&#39;s leadership team. But is it time to give up on <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw">#ETH</a>? Let's take a closer look &#x1f447;&#x1f9f5;
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1881338324696330747?ref_src=twsrc%5Etfw">January 20, 2025</a></blockquote>
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The analyst also noted Ethereum&#8217;s historical tendency to perform well in the first quarter. On average, the second-largest cryptocurrency gains 82% in this period, <a href="https://www.coinglass.com/today">according </a>to data from Coinglass.
The historical success possibly justified large whale accumulations totaling over a billion in the last week, Martinez stated, citing on-chain data. Additionally, roughly $2 billion worth of ETH was withdrawn from cryptocurrency exchanges over the last month, suggesting significant buying demand.
For the sentiment to flip bullish, Martinez said that ETH must break crucial resistance levels, with the $3,360–$3,450 zone acting as a major barrier. 
He also noted the formation of an inverse head and shoulders pattern, breaking from which could potentially send the coin to $7,000.
Note that the inverse head and shoulders pattern is a bullish reversal pattern, indicating exhaustion of a prolonged downturn.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/01/43087038/trump-names-uyeda-acting-sec-chair-as-crypto-regulations-get-set-for-a-makeover">Trump Names Uyeda Acting SEC Chair, Regulators Get Ready For Crypto Makeover</a>
Why It Matters:&nbsp;Martinez&#8217;s observations coincided with&nbsp;<a href="https://www.benzinga.com/25/01/43088676/trump-backed-world-liberty-financial-bags-47-million-each-of-ethereum-wrapped-bitcoin-to-honor-the-new-president">World Liberty Financial&#8217;s acquisition</a>&nbsp;of $47 million worth of ETH. The President Donald Trump-backed cryptocurrency project now has total ETH holdings worth over $185 million, making it one of the largest holders of the cryptocurrency.
Meanwhile, Ethereum faltered amid a <a href="https://www.benzinga.com/25/01/43088034/bitcoin-ethereum-dogecoin-retrace-from-pre-inauguration-highs-as-trumps-address-disappoints-analyst-highlights-possibility-of-btc-consolidation-in-101k-106k-range">broader market slump</a> as President Trump made no mention of cryptocurrency in his inauguration address. 
The snub might have come as unexpected for many cryptocurrency enthusiasts since various reports building up to the swearing-in anticipated <a href="https://www.benzinga.com/25/01/43047039/trump-planning-to-declare-cryptocurrency-as-national-priority-increase-engagement-with-industry-report">major cryptocurrency reforms</a> on Day 1 of Trump&#8217;s tenure.
Price Action: At the time of writing, Ethereum was exchanging hands at $$3,251.53, down 4.56% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/25/01/43086309/trumps-doge-committee-faces-lawsuit-over-alleged-federal-advisory-violations-and-lack-of-transparency">Trump&#8217;s DOGE Committee Faces Lawsuits Over Alleged Federal Advisory Violations, Lack Of Transparency</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>
Image via Shutterstock

Ethereum's 'Weak' Momentum Disappoints Top Analyst, But He Doesn't Rule Out A Rally To $7,000: Here's Why

As Donald Trump took oath as the 47th President of&nbsp;the U.S. on Monday, World Liberty Financial, a cryptocurrency project backed by him, announced a series of strategic purchases, including Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Wrapped Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WBTC</a>).
What Happened:&nbsp;In an X post, the decentralized finance platform disclosed buying several cryptocurrencies, including $47 million each in Ethereum and <a href="https://www.benzinga.com/money/what-is-wrapped-bitcoin">Wrapped Bitcoin,</a> a converted version of Bitcoin that can be used on Ethereum&#8217;s blockchain.
With the latest grab, World Liberty Financial&#8217;s total ETH holdings shot up to 57,115, worth over $185 million at the current market price, <a href="https://intel.arkm.com/explorer/entity/worldlibertyfi">according</a> to on-chain analytics firm Arkham. WBTC was its second-largest holding.
Other important buys included $4.7 million worth of Tron (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/trx/usd">TRX</a>), Aave (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/aave/usd">AAVE</a>), Chainlink (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/link/usd">LINK</a>), and Ethena (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ENA</a>).
World Liberty Financial said the purchases commemorated Trump&#8217;s inauguration. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">To commemorate the inauguration of Donald J. Trump as the 47th President of the United States, <a href="https://twitter.com/search?q=%24WLFI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WLFI</a> is proud to announce the following strategic purchases today: $47,000,000 ETH $47,000,000 wBTC $4,700,000 Aave $4,700,000 LINK $4,700,000 TRX $4,700,000 ENA Excited for the…
&mdash; WLFI (@worldlibertyfi) <a href="https://twitter.com/worldlibertyfi/status/1881457386671464804?ref_src=twsrc%5Etfw">January 20, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/01/43087038/trump-names-uyeda-acting-sec-chair-as-crypto-regulations-get-set-for-a-makeover">Trump Names Uyeda Acting SEC Chair, Regulators Get Ready For Crypto Makeover</a>
Why It Matters:&nbsp;World Liberty Financial has been <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42568122/trump-backed-world-liberty-financial-forges-partnership-with-ethena-labs-ena-token-gains-amid-broader-slump">steadily piling on DeFi-linked cryptocurrencies</a> like ETH, AAVE, and LINK to build its platform.
Launched&nbsp;as a decentralized money market&nbsp;last year, the <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40905315/donald-trumps-new-crypto-project-world-liberty-financial-everything-you-need-to-know">protocol will allow users to borrow</a>, lend, and earn interest on cryptocurrencies. The&nbsp;WLFI&nbsp;token would serve as the platform&#8217;s governance token, enabling users to engage in DeFi-related activities.
The project was&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40722435/trumps-crypto-project-vows-to-bolster-us-financial-dominance-with-dollar-pegged-stablecoin" target="_blank" rel="noreferrer noopener">aggressively promoted</a>&nbsp;by Trump and his family, and a firm associated with the President-elect, DT Marks DEFI, LLC, stands to&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41395007/trump-affiliated-entity-will-get-75-of-world-liberty-financials-revenue-and-22-of-wlfi-tok" target="_blank" rel="noreferrer noopener">receive 75% of the protocol revenue</a>.
Price Action:  At the time of writing, Ethereum was exchanging hands at $3,257.31, down 0.37% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. Meanwhile, TRX was up 3.72%, and LINK gained marginally by 0.04%.
Image via Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/25/01/43086309/trumps-doge-committee-faces-lawsuit-over-alleged-federal-advisory-violations-and-lack-of-transparency">Trump&#8217;s DOGE Committee Faces Lawsuits Over Alleged Federal Advisory Violations, Lack Of Transparency</a></li>
</ul>

Politics

$AAVE

$ENA

$LINK

$WBTC

Trump-Backed World Liberty Financial Bags $47 Million Each Of Ethereum, Wrapped Bitcoin To Commemorate Inauguration: 'Excited For The Future'

Jamie Dimon, the CEO of banking behemoth JPMorgan, has maintained a divergent view about cryptocurrencies.&nbsp;
While he frequently disses Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), the most valued cryptocurrency, he appears to have a favorable view of blockchain technology in general and projects based on smart contracts.
What happened: During an interview with CNBC in January 2023, Dimon made a clear differentiation between the two types of cryptocurrencies.
"There&#8217;s a cryptocurrency which might actually do something. Think of a cryptocurrency that has an embedded smart contract in it and that we can use it to buy and sell real estate and move data. That may have value," the CEO of the world&#8217;s most valuable bank said.&nbsp;
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Though Dimon did not identify a specific cryptocurrency, the word &#8220;smart contract&#8221; possibly referred to Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and blockchains and decentralized applications built on the network.
Smart contracts are self-executing computer programs that facilitate transactions without a central authority. Ethereum is well-known as the largest smart contract-enabled platform.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/government/regulations/25/01/42994641/italys-largest-bank-leaps-into-bitcoin-trading-with-1-million-test-investment-but-ceo-says-he-doesnt-invest-in-btc-personally">Italy&#8217;s Largest Bank Leaps Into Bitcoin Trading With $1 Million &#8216;Test&#8217; Investment But CEO Says He Doesn&#8217;t Invest In BTC Personally</a>
When Dimon made this assertion, Ethereum traded at $2,531.26 a piece. So, if you invested $1000, you&#8217;d have received 0.3950 units of ETH.&nbsp;
Today, one Ethereum was exchanging hands at $3,443.36. This meant that the original investment would have turned $1360.33, reflecting a return of 36%.
Why It Matters: Dimon&#8217;s opinions suggested that he supported cryptocurrency projects that have utility and could solve real-world problems, unlike Bitcoin, which is speculative and relies on expectations of long-term value growth.&nbsp;
Dimon <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42940832/jamie-dimon-says-hes-not-against-blockchains-but-trades-guns-on-bitcoin-again-it-has-no-intrinsic-value-i-just-dont-feel-great-about">reaffirmed this attitude</a> earlier this month, stating that blockchains will have long-term use. In the same breath, he linked Bitcoin with illicit activities like s&#x2A;x trafficking and money laundering.
Interestingly, JPMorgan has invested in Ethereum exchange-traded funds, with a significant stake in Grayscale Ethereum Trust ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETHE#NYSE">ETHE</a>) and its miniature version, Grayscale Ethereum Mini Trust ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETH#NYSE">ETH</a>).
Price Action: At the time of writing, Ethereum was exchanging hands at $3,422.62, up 4.43% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/25/01/42993521/michael-saylors-microstrategy-not-alone-in-bitcoin-acquisition-says-bitwise-chief-investment-officer-its-a-bona-fide-megatrend">Michael Saylor&#8217;s MicroStrategy Not Alone In Bitcoin Acquisition, Says Bitwise Chief Investment Officer: &#8216;It&#8217;s A Bona Fide Megatrend&#8217;</a></li>
</ul>

If You Invested $1,000 In Ethereum When Jamie Dimon Said Cryptos With Smart Contracts Have Value, Here's How Much You'd Have Today

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) tapped a new record high of $109,000 past Sunday midnight ahead of Donald Trump&#8217;s presidential inauguration
What happened: The world&#8217;s largest cryptocurrency briefly touched $109,000, bettering its previous record at $108,135. However, the coin couldn&#8217;t sustain its rally and retraced to the $107,000 zone as of this writing.
The spike spurred a broader market rally, causing large-cap cryptocurrencies like Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) to trade in the green.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/government/regulations/25/01/42994641/italys-largest-bank-leaps-into-bitcoin-trading-with-1-million-test-investment-but-ceo-says-he-doesnt-invest-in-btc-personally">Italy&#8217;s Largest Bank Leaps Into Bitcoin Trading With $1 Million &#8216;Test&#8217; Investment But CEO Says He Doesn&#8217;t Invest In BTC Personally</a>
Why It Matters: The record-breaking surge comes hours ahead of the presidential inauguration of Trump, who championed the industry's cause during his election campaign.
The market has been brimming with optimism, as reports have indicated that the president-elect would&nbsp;<a href="https://www.benzinga.com/25/01/43047039/trump-planning-to-declare-cryptocurrency-as-national-priority-increase-engagement-with-industry-report" target="_blank" rel="noreferrer noopener">announce several measures</a>&nbsp;to help the digital asset industry expand, including declaring cryptocurrency a national priority.
The rally also <a href="https://www.benzinga.com/25/01/43078226/bitcoin-ethereum-dogecoin-plunge-as-trumps-official-memecoin-loses-way-analyst-underlines-importance-of-btcs-weekly-close-above-this-resistance-level">reversed losses incurred Sunday evening</a> following the dramatic dump of Trump&#8217;s official meme coin, OFFICIAL TRUMP.
Price Action: At the time of writing, Bitcoin was exchanging hands at $107,955.61, up 3.25% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/25/01/42993521/michael-saylors-microstrategy-not-alone-in-bitcoin-acquisition-says-bitwise-chief-investment-officer-its-a-bona-fide-megatrend">Michael Saylor&#8217;s MicroStrategy Not Alone In Bitcoin Acquisition, Says Bitwise Chief Investment Officer: &#8216;It&#8217;s A Bona Fide Megatrend&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

Bitcoin Hits Record $109,000 Ahead Of Trump's Inauguration, Sparks Market Rally

Despite his well-known disdain for cryptocurrencies, the &#8216;Oracle Of Omaha&#8217; &#8211; Warren Buffett&#8216;s Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) has invested in a company that supports the cryptocurrency market and has soared by 27.43% in 2024.
What Happened: Buffett&#8217;s Berkshire had <a href="https://www.benzinga.com/personal-finance/24/05/39093145/berkshire-hathaway-profits-f[%E2%80%A6]to-despite-warren-buffets-stance-on-not-buying-even-if-all-w">initially</a> invested $500 million in a Series G funding round and subsequently another $250 million in Nu Holdings Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NU#NYSE">NU</a>). 
Nu, a Brazilian digital banking company launched its cryptocurrency platform, Nubank Cripto, in 2022. Berkshire has since added 0.3% of this company&#8217;s shares in 18 months as of the quarter ended Sept. 30, 2024. 
Berkshire increased its holdings from 0.1% in the fourth quarter that ended Dec. 31, 2022, to 0.4% in the third quarter of fiscal 2025.
Initially supporting Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/matic/usd">MATIC</a>), the platform, Nubank Cripto, now includes Uniswap (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/uni/usd">UNI</a>) and Chainlink (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/link/usd">LINK</a>). It allows users to send, receive, and convert cryptocurrencies, including stablecoins like USD Coin.
In 2018, during Berkshire Hathaway Inc.&#8217;s annual <a href="https://www.benzinga.com/general/24/03/37513063/warren-buffett-says-he-wouldnt-pay-25-for-all-the-bitcoin-in-the-world-he-considers-crypto-rat-poiso">shareholder</a> meeting, Buffett famously described Bitcoin as &#8220;probably rat poison squared&#8221;. On the contrary, Berkshire has profited substantially through its investment in Nu.
See Also: <a href="https://www.benzinga.com/25/01/42908280/intel-aims-for-cpu-market-share-growth-ai-breakthroughs-citi-reiterates-neutral-as-new-ceo-appointment-expected-in-coming-months">Intel Stock Has Fallen Over 58% In 1 Year, But Citi Maintains &#8216;Neutral&#8217; Rating On Expected Replacement Of Pat Gelsinger In A &#8216;Couple Of Months&#8217;</a> 
Why It Matters: According to its 13F filings, Berkshire held 86.438 million shares of Nu valued at $1.179 billion, as of the end of the third quarter.
With data for the fourth quarter not available at the time of writing, assuming that Berkshire&#8217;s holdings in Nu don&#8217;t change during this period, the value of these shares would have declined by 24.10% as of the quarter ended Dec. 31, when the share price was $10.36, as compared to $13.65 on Sept. 30, 2024.
However, Nu&#8217;s shares have risen by 27.43% in 2024, according to the data compiled by <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/13074755/nu-in-2024-1024x576.png" alt="" class="wp-image-730370" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/13074755/nu-in-2024-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/13074755/nu-in-2024-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/13074755/nu-in-2024-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/13074755/nu-in-2024-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/13074755/nu-in-2024.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
While Nu offers cryptocurrency services, one can argue in favor of Buffett that it&#8217;s not primarily a cryptocurrency company.
However, back in <a href="https://www.benzinga.com/general/24/03/37513063/warren-buffett-says-he-wouldnt-pay-25-for-all-the-bitcoin-in-the-world-he-considers-crypto-rat-poiso">2018</a>, Buffett also said &#8220;In terms of cryptocurrencies generally, I can say almost with certainty that they will come to a bad ending.&#8221;
Read Next:
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<li><a href="https://www.benzinga.com/general/market-summary/25/01/42938954/michael-saylors-microstrategy-faces-risk-if-mstrs-0-convertible-bond-lenders-recall-non-recourse-loans-due-to-covenant-breach-heres-what-it-means-for-investors">Michael Saylor&#8217;s MicroStrategy Faces Risk If MSTR&#8217;s 0% Convertible Bond Lenders Recall Non-Recourse Loans Due To Covenant Breach: Here&#8217;s What It Means For Investors</a></li>
</ul>
Photo courtesy: Shutterstock

Equities

Financing

Management

$MATIC

$UNI

LINK

Warren Buffett Openly Called Bitcoin A 'Rat Poison' In 2018. 7 Years Later, He Is Invested In This Crypto-Linked Stock Which Soared 27% In 2024

Bitcoin and Ethereum spot ETFs experienced a significant resurgence on Jan. 15, with a combined net inflow of over $815 million, marking the first positive day after a <a href="https://www.benzinga.com/etfs/currency-etfs/25/01/42971053/bitcoin-etfs-enter-2025-after-massive-first-year">four-day outflow period</a>.
What Happened: After four days of outflows, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) spot ETFs saw a strong rebound on Wednesday, recording a total net inflow of $755 million.
Bitcoin is trading around $99,000 at the time of writing, up 2% over the past 24 hours.
Fidelity&#8216;s (CBOE: FBTC) led the charge with a net inflow of $463 million, while Ark Invest and 21Shares&#8216; (CBOE: ARKB) attracted $139 million. 
Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) spot ETFs also experienced positive inflows, reaching $59.7 million, with Fidelity&#8216;s (CBOE: FETH) securing $29.3 million and BlackRock&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETHA#NASDAQ">ETHA</a>) garnering $19.8 million, according to <a href="https://sosovalue.com/assets/etf/us-btc-spot?from=moved">data</a>.
This influx comes as Thailand&#8217;s Securities and Exchange Commission considers permitting local Bitcoin ETFs, signaling a potentially broader shift toward crypto asset adoption in the Asia-Pacific region.
The Thai SEC is considering allowing both individual and institutional investors access to these instruments, marking a departure from its current stance which only permits fund-of-funds offerings that track overseas Bitcoin ETFs, <a href="https://www.bloomberg.com/news/articles/2025-01-15/thailand-mulls-allowing-first-bitcoin-etf-in-bid-to-boost-sector">according </a>to Bloomberg.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43014100/akash-network-founder-reveals-unexpected-ai-energy-crisis">Akash Network Founder Reveals Unexpected AI Energy Crisis Driving Decentralized Cloud Adoption</a>
SEC Secretary-General Pornanong Budsaratragoon acknowledged the need to adapt to global trends, stating in an interview that, &#8220;Like it or not, we have to move along with more adoption of cryptocurrencies worldwide. We have to adapt and ensure that our investors have more options in crypto assets with proper protection."
Thailand&#8217;s potential regulatory shift is part of a larger effort to establish itself as a digital assets hub in the Asia-Pacific region, an arena where Singapore and Hong Kong have also been active. 
Furthermore, the report notes that President-elect Donald Trump has stated his intention to make the US the global crypto capital.
Meanwhile, The New York Post <a href="https://nypost.com/2025/01/16/business/new-trump-ends-crypto-communitys-government-harassment/">reported</a> that Trump is set to sign executive orders aimed at bolstering the cryptocurrency sector.
These include creating a Bitcoin reserve, halting the &#8220;de-banking&#8221; policy, and appointing several &#8220;crypto-friendly&#8221; officials to prominent roles. 
However, prioritizing U.S.-originated cryptocurrencies like Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), USD Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) and Ripple (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) has stirred debate.
Read Next: 
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Image: Shutterstock

$USDC

Bitcoin Consolidates Around $99,000 After $750 Million ETF Inflows On Wednesday

The cryptocurrency market witnessed significant downsides last week, although some coins exhibited resilience with meaningful gains.
What happened: BGB, the utility token for the centralized exchange Bitget, emerged as the best performer, rallying more than 11% over the week.
The Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) based coin has more than doubled in value during the last month, reaching an all-time high of $8.45 in the final week of 2024.
XDC, belonging to the XDC Network, was the second-highest gainer, lifting 5.42% over the week.&nbsp;
The XDC Network is a Layer-1 blockchain that aids in the tokenization of real-world assets.&nbsp;
Payments-focused cryptocurrency XRP rose 4.54%, becoming the most successful large-cap cryptocurrency in the last week.
Part of the excitement stemmed from Ripple Labs President Monica Long&#8217;s statement that an <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42878368/xrp-etf-very-soon-likely-next-after-bitcoin-and-ethereum-ripple-president-says">XRP exchange-traded fund</a> would be approved &#8220;very soon.&#8221;
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>7-Day Gains +/-</td>
<td>Price</td>
</tr>
<tr>
<td>Bitget Token (CRYPTO: BGB)</td>
<td>+11.83%</td>
<td>$6.80</td>
</tr>
<tr>
<td>XDC Network (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">XDC</a>)</td>
<td>+5.42%</td>
<td>$0.101</td>
</tr>
<tr>
<td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td>
<td>+4.54%</td>
<td>$2.53</td>
</tr>
</tbody>
</table>
</figure>
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42936962/shytoshi-kusama-outlines-treat-tokens-usefulness-ahead-of-launch-optimistic-whales-buy-up-shiba-inu">Shytoshi Kusama Outlines TREAT Token&#8217;s Usefulness Ahead Of Launch, Optimistic Whales Buy Up Shiba Inu</a>
Blue-chip currencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) <a href="https://www.benzinga.com/25/01/42936775/bitcoin-ethereum-dogecoin-rise-as-greed-sentiment-takes-over-top-analyst-says-breaking-this-resistance-level-could-be-pivotal-for-btc">had a rough week</a>, losing 4.88% and 11.63%, respectively.
Popular meme-based cryptocurrencies like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) also entailed heavy losses, sinking 14% and 11.65%, respectively.
The global cryptocurrency market capitalization contracted 6.7% to $3.29 trillion from $3.52 trillion the week before.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42935597/mark-cuban-advocates-bitcoin-over-gold-during-economic-turmoil-i-think-it-has-more-value-than-gold">Mark Cuban Advocates Bitcoin Over Gold During Economic Turmoil: &#8216;I Think It Has More Value Than Gold&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

$XDC

Bitcoin, Ethereum Lost Way But XRP Made Promising Headway — Here Are The Best Performers From Last Week

An investor dumped Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) tokens at a loss on Sunday as the second-largest cryptocurrency capped off the week with double-digit negative returns.
What happened: A prominent whale, which controlled three wallets, swapped 10,070 Ether for 33 million in stablecoin Dai (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/dai/usd">DAI</a>), losing a million in the sale, according to Lookonchain.
The investor withdrew 24,029 Ether for a little over $81 million from cryptocurrency exchange Binance three weeks ago. After the latest sale, the investor was left with a bag of 13,959 ETH, worth $45.48 million.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Whales are dumping <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> at a loss! 9 hours ago, 3 wallets(likely belonging to the same whale) sold 10,070 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> for 33M <a href="https://twitter.com/search?q=%24DAI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DAI</a> at $3,280, losing $1M. This whale withdrew 24,029 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($81.3m) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> via 10 new wallets 3 weeks ago and currently holds 13,959 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($45.48M).… <a href="https://t.co/5lqFegRu3i">pic.twitter.com/5lqFegRu3i</a>
&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1878626686293643481?ref_src=twsrc%5Etfw">January 13, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
However, the bearish sentiment wasn&#8217;t limited to any single entity. According to blockchain analytics firm IntoTheBlock, net inflows to exchanges <a href="https://app.intotheblock.com/">spiked</a> 791% to $338 million in the last 24 hours, suggesting that more ETH was entering than leaving exchanges, presumably to be sold off. 
Large transactions, valued at $100,000, also jumped by over 70%, implying greater engagement by whales.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42890745/us-government-granted-permission-to-liquidate-65-billion-in-bitcoin-seized-from-silk-road-case-report">US Government Silk Road Bitcoin Holdings Drop To 0 Amid Report DOJ Approved To Sell $6.5 Billion Worth Of Crypto</a>
Why It Matters: The second-largest cryptocurrency was in the middle of a corrective phase that has eroded over 11% of its value in a week.
The coin&#8217;s momentum indicators painted a bearish picture. The Moving Average Convergence Divergence indicator, which compares a stock's short-term price to its long-term price, flashed a ‘Sell&#8217; signal, <a href="https://in.tradingview.com/symbols/ETHUSD/technicals/">according </a>to TradingView. The Relative Strength Index, used to measure if the asset is overbought or oversold, was in the &#8220;Neutral&#8221; zone. 
However, derivatives traders were confident of a recovery. More than 82% of all traders on Binance with an active contract were long on Ethereum, according to the Long/Short Ratio.
Price Action: At the time of writing, Ethereum was exchanging hands at $3,250.93, down 0.92% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. Year-to-date, the coin was down 2.86%, compared to a 46% upside in 2024.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/25/01/42890191/trump-themed-nfts-launch-on-bitcoin-network-for-first-timeheres-what-you-should-know">Trump-Themed NFTs Debut On Bitcoin Network — One Card Gets Listed At $1.9 Million</a></li>
</ul>
Photo courtesy: Shutterstock

$DAI

Ethereum Whale Offloads $33 Million In ETH At A Loss As Crypto Sinks 11% In A Week — This Is What Indicators Suggest

Vitalik Buterin, co-founder of Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), sold meme coins gifted to him by project creators on Monday and allocated the proceeds toward his biotechnology charity Kanro.
What Happened: Buterin swapped notable coins like Neiro (NEIRO), Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)-inspired ESTEE, Marvin Inu (MARVIN), and several others for over $940,000 in stablecoin USD Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>), according to on-chain tracking platform Spot On Chain.
Out of this, about 916,000 USDC was sent to a wallet belonging to his philanthropic fund, Kanro, established to address COVID-19 and other pandemic-related challenges.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Vitalik Buterin (<a href="https://twitter.com/VitalikButerin?ref_src=twsrc%5Etfw">@VitalikButerin</a>) sold several of his free <a href="https://twitter.com/hashtag/memecoins?src=hash&amp;ref_src=twsrc%5Etfw">#memecoins</a> for $940.9K in <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> and <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> today! Notable sales include: • 70M <a href="https://twitter.com/search?q=%24NEIRO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NEIRO</a> → 74.1K <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> • 63.1M <a href="https://twitter.com/search?q=%24ESTEE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ESTEE</a> → 69.8K <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> • 46.5M <a href="https://twitter.com/search?q=%24MARVIN&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MARVIN</a> → 69.2K <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> • 500.2K <a href="https://twitter.com/search?q=%24EBULL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$EBULL</a> → 67.6K <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> • 100K <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> → 61.5K… <a href="https://t.co/VDWXID2xtG">pic.twitter.com/VDWXID2xtG</a>
&mdash; Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1876262852031578522?ref_src=twsrc%5Etfw">January 6, 2025</a></blockquote>
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</figure>
The biggest liquidation was that of NEIRO, a dog-themed meme coin inspired by the sister of Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) mascot Kabosu. About 70 million NEIRO tokens, worth over $74,000, were offloaded. 
The sale caused the token&#8217;s price to plummet by over 3% in the last 24 hours. In contrast, ESTEE and MARVIN gained 28.66% and 14.50%, respectively, in the last 24 hours, <a href="https://coinmarketcap.com/currencies/estee/">according</a> to CoinMarketCap.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42827796/maga-meme-coin-surges-20-boosting-donald-trumps-crypto-portfolio-11-9m">MAGA Meme Coin Surges 20%, Boosting Donald Trump&#8217;s Crypto Portfolio $11.9M</a>
Why It Matters: Buterin&#8217;s charitable inclinations are also well documented. In December, he <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42696957/all-vitalik-buterin-wanted-for-xmas-was-a-hippopotamus-ethereum-co-founder-is-now-the-adoptive-father-of-viral-sensation-moo-deng">adopted the viral baby hippo</a> named Moo Deng, setting aside 88 Ethereum for the animal&#8217;s welfare and her family. He also <a href="https://www.benzinga.com/markets/cryptocurrency/21/07/22190225/ethereum-co-founder-donated-1b-shiba-inu-to-aid-india-in-covid-19-battle-money-reaching-th">donated  billions of dollars worth of Shiba Inu</a> for COVID-19 relief in India
The cryptocurrency mogul has <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40422601/dogecoin-shiba-inu-fall-as-ethereum-co-founder-vitalik-buterin-donates-over-500k-worth-of-">frequently asked projects not to send him unsolicited meme tokens</a>, a tried-and-tested strategy employed by nascent projects to pique investors' attention by leveraging on his brand value. Instead, he urged them to allocate the holdings to charities directly..
Price Action: At the time of writing, Ethereum was exchanging hands at $3,685.58, up 0.55% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42828238/gemini-resolves-cftc-lawsuit-with-5m-settlement-over-bitcoin-futures-misstatements">Gemini Resolves CFTC Lawsuit With $5M Settlement Over Bitcoin Futures Misstatements</a></li>
</ul>

Ethereum Co-Founder Vitalik Buterin Offloads Nearly A Million In Memecoins To Benefit Charities — Dogecoin's Sister Coin NEIRO Plunges 3% After Sale

The cryptocurrency market witnessed a sizable jump over the last week, with some unconventional meme coins taking the lead over market heavyweights.
What happened: Parody coin SPX6900 emerged as the market's top performer, rallying over 66% in the last seven days. Available on both Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), the cryptocurrency hit an all-time high of $1.55 on Sunday.&nbsp;
The coin that aims to surpass the market capitalization of the mammoth S&amp;P 500 index was also 2024's <a href="https://www.benzinga.com/24/12/42717267/2024s-cryptocurrency-champions-these-top-performers-surpass-bitcoin-in-a-year-of-unprecedented-gains">second-biggest gainer</a>, returning 10795% to its investors.
Fartcoin was the second-best-performing cryptocurrency, surging 64% over the previous week. The Solana-based coin hit an all-time high of $1.52 earlier this week, marking a rather eccentric journey from <a href="https://www.benzinga.com/25/01/42780221/from-giggles-to-gains-fartcoin-hits-new-all-time-high-equals-papa-johns-valuation">giggles to gains</a>
AIOZ token, belonging to the AIOZ Network, gained an impressive 39.35%, implying a market for technology-driven cryptocurrencies as well. AIOZ Network operates on a blockchain that supports Web3 storage, decentralized AI computation, and video streaming.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price </td>
</tr>
<tr>
<td>SPX6900 (SPX)</td>
<td>+66.97%</td>
<td>$1.49</td>
</tr>
<tr>
<td>Fartcoin (FARTCOIN)</td>
<td>+64.28%</td>
<td>$1.39</td>
</tr>
<tr>
<td>AIOZ Network (AIOZ)</td>
<td>+39.35%</td>
<td>$1.13</td>
</tr>
</tbody>
</table>
</figure>
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> &#8216;Pharma Bro&#8217; Martin Shkreli Predicts Liquidation Doom For MicroStrategy Amid Fall Below $300, Says Bitcoin Will Hit $250K Without Michael Saylor</a>
Blue-chip currencies also marched upward, marking a good start to 2025. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) gained 6.51% while Ethereum, the second-largest cryptocurrency, rose over 8% over the week.
Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), and Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>) were the biggest gainers in the large-cap category, surging 21.78%, 15.56%, and 21.78%, respectively.
Overall, the total cryptocurrency market capitalization rose 7.3% over the week to $3.52 trillion.
Photo by CMP_NZ on Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42758291/elon-musks-return-to-original-x-avatar-causes-coin-themed-on-kekius-maximus-to-crash-90-frog-themed-pepe-slips-as-well">Elon Musk&#8217;s Return To Original X Avatar Causes Coin Themed On &#8216;Kekius Maximus&#8217; To Crash 90% — Frog-Themed PEPE Slips As Well</a></li>
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$ADA

Bitcoin, Ethereum Made Rapid Strides Last Week But SPX6900, Fartcoin Stole The Limelight With Biggest Gains

While it's only three days into the new year, Jan. 3 marks an important anniversary and a day the cryptocurrency world is celebrating. On this day, 16 years ago, Satoshi Nakamoto mined the genesis block of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), forever changing the <a href="https://www.benzinga.com/crypto">world of cryptocurrency.</a>
To celebrate the 16th birthday of Bitcoin, here are 16 fun facts about the cryptocurrency.
1. First Purchase:&nbsp;On May 22, 2010, history was made when&nbsp;Laszlo Hanyecz paid&nbsp;10,000 Bitcoin<a href="https://www.benzinga.com/markets/cryptocurrency/21/05/21185577/anthony-pompliano-launches-bitcoin-pizza-what-you-should-know-and-how-to-buy" target="_blank" rel="noreferrer noopener">&nbsp;for two pizzas</a>&nbsp;from&nbsp;Papa John&#8217;s International. The purchase of the two pizzas became the first goods transacted with Bitcoin.
The&nbsp;pizzas cost around $41 at the time. The Bitcoin used to purchase the pizzas would be worth over $460 million today, based on the current price of the cryptocurrency. May 22 is celebrated as Bitcoin Pizza Day every year.
2.&nbsp;Ethereum Co-Founder Ties To Bitcoin: Vitalik Buterin, one of the co-founders of&nbsp;Ethereum&nbsp;(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>),took a side job in 2011&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/21/09/22811912/5-things-you-might-not-know-about-ethereum-creator-vitalik-buterin" target="_blank" rel="noreferrer noopener">working for Bitcoin Weekly</a>. As a writer, Buterin was paid five Bitcoin for each article written. Later that year, Buterin founded Bitcoin Magazine, where he was the lead writer.
Buterin launched the white paper for Ethereum in late 2013 and officially launched the cryptocurrency on July 30, 2015.
3. Expensive Missing Wallet:&nbsp;James Howells&nbsp;threw out a hard drive in 2013 that contained his digital wallet. The wallet contained 8,000 Bitcoins. Howells, who lives in Wales, is trying to get the local city council to allow him to excavate the landfill in a last-ditch effort to find the hard drive containing the Bitcoin.
Howells offered a portion of the proceeds to the city if it allows him the chance to search. In 2024, Howells sued the<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42232028/remember-james-howells-who-lost-his-hard-drive-with-8000-bitcoins-now-worth-760m-his-ex-girlfriend-reveals-it-was-she-who-threw-it-away"> local city council </a>for not allowing him to excavate the landfill site. Howells&#8217; ex-girlfriend also revealed in 2024 that it was her who threw the hard drive away. Today, the Bitcoin are worth over $700 million.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42440369/bitcoins-next-move-105000-or-85000-poll-finds-over-60-say">Bitcoin&#8217;s Next Move: $105,000 Or $85,000? Poll Finds Over 60% Say…</a>
4.&nbsp;Satoshi Nakamoto, Still Anonymous?:&nbsp;The creator of Bitcoin remains anonymous to this date.&nbsp;Craig Wright&nbsp;previously fought in<a href="https://www.benzinga.com/markets/cryptocurrency/22/12/30182902/craig-wright-drops-controversial-quest-to-prove-hes-bitcoin-creator-only-validation-i-seek" target="_blank" rel="noreferrer noopener">&nbsp;a court case</a>&nbsp;to claim that he created Bitcoin, but many in the cryptocurrency community doubt the claim. Tesla CEO&nbsp;Elon Musk&nbsp;has<a href="https://www.benzinga.com/markets/cryptocurrency/21/12/24811305/elon-musk-offers-his-theory-on-the-identity-of-bitcoin-godfather-satoshi-nakomoto" target="_blank" rel="noreferrer noopener">&nbsp;supported a theory&nbsp;</a>that computer scientist&nbsp;Nick Szabo&nbsp;created Bitcoin. Szabo is one of a dozen or so names including Wright that are often linked to the identity of Nakamoto.
In 2024, a Bitcoin documentary titled "Money Electric: The Bitcoin Mystery" from investigative filmmaker Cullen Hoback added to the mystery. The documentary <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41242615/peter-todd-is-satoshi-nakamoto-bitcoin-core-developer-denies-hbo-documentary-claims-im-not">said that Bitcoin engineer </a>Peter Todd is most likely Satoshi Nakamoto, a claim which he denied.
The anonymous founder of Bitcoin is estimated to hold between 600,000 and 1.1 million Bitcoin.
5. Bitcoin White Paper:&nbsp;Before the official genesis mint of Bitcoin, there was the idea of the concept that became the cryptocurrency. On Oct. 31, 2008, Satoshi Nakamoto released the&nbsp;white paper&nbsp;called &#8220;Bitcoin: A Peer-to-Peer Electronic Cash System.&#8221; The white paper laid out themes like&nbsp;time-stamped transactions, proof-of-work, privacy and a simplified payment verification method.
&#8220;A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution,&#8221; the opening sentence of the white paper read. Satoshi&#8217;s white paper is considered required reading for anyone in the cryptocurrency space.
6. Nakamoto Statues:&nbsp;Despite Nakamoto being anonymous, a statue&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41255580/satoshi-nakamoto-identity-remains-a-mystery-after-hbo-documentary-bronze-statue-celebrates" target="_blank" rel="noreferrer noopener">was&nbsp;created&nbsp;to honor&nbsp;</a>the Bitcoin founder and unveiled in September 2021. The Satoshi Nakamoto statue can be found in Graphisoft Park, located in Budapest, Hungary. The statue features Satoshi wearing a hoodie with the Bitcoin logo on its chest. The Nakamoto statue is free to visit 24 hours a day. The group behind the sculpture accepts donations made to their crypto wallets to increase awareness for the project.
&#8220;The statue is made of bronze, the face is made of a special bronze-aluminum composite, thus every visitor can see their own face when looking at Satoshi. We are all Satoshi,&#8221; the statue&#8217;s website reads.
In 2024, a new Satoshi Nakamoto statue was unveiled in Lugano, Switzerland. The statue honors the anonymity of Nakamoto by appearing transparent from the front and changing the view based on the angle the statue is viewed.
7. Coinbase Creation:&nbsp;Without the launch of Bitcoin and other cryptocurrencies, many public companies of today that mine cryptocurrency or act as trading platforms might not exist. One of the companies that owes a lot to the creation of Bitcoin is&nbsp;Coinbase Global Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>).
Coinbase founder&nbsp;Brian Armstrong&nbsp;said he started the process of creating Coinbase after reading the Satoshi Nakamoto Bitcoin white paper. Armstrong then started coding an early prototype of Coinbase on nights and weekends. Armstrong and many early Coinbase employees opted to be paid a portion of their salary in Bitcoin.
8. Silk Road Shut Down:&nbsp;One of the knocks against Bitcoin over the years has been the usage of cryptocurrencies for illegal activities due to the anonymity of people making transactions. Online black market Silk Road was one of several marketplaces that used Bitcoin for money laundering, illegal drug transactions and other illegal activities.
The U.S. government seized more than 170,000 Bitcoins in 2013. The government sold off the Bitcoins in auctions in 2014 and 2015.
9.&nbsp;Bitcoin as Currency:&nbsp;One of the biggest cryptocurrency stories of 2021 was the&nbsp;announcement&nbsp;by El Salvador that Bitcoin would become an official currency of the country. El Salvador President&nbsp;Nayib Bukele&nbsp;announced in September that the country purchased 200 Bitcoins and would buy more. The country was the first to adopt Bitcoin as legal tender.
10. Bitcoin Unit Named After Founder:&nbsp;The smallest unit of Bitcoin is called a Satoshi, in reference to the anonymous creator of the cryptocurrency. One Satoshi is equal to 100 millionth of a Bitcoin. The smaller unit size and name are used to help with smaller transactions.
11. Limited Supply:&nbsp;Nearly 20 million Bitcoin have been&nbsp;<a href="https://www.buybitcoinworldwide.com/how-many-bitcoins-are-there/" target="_blank" rel="noreferrer noopener">mined</a>, as of the time of writing. Bitcoin comes with a limited supply of 21 million. After the 21 million Bitcoins are mined, no more will be able to be accumulated through the mining method, leaving only the existing Bitcoin to be bought and sold. This means there are currently around 1.4 million Bitcoin left to be mined.
Estimates call for the last Bitcoin to be mined in 2140, but that number could fluctuate as a rising price of Bitcoin has led more companies to get into Bitcoin mining.
12.&nbsp;Bitcoin Halving:&nbsp;A Bitcoin halving occurs every 210,000 blocks, which<a href="https://www.benzinga.com/money/what-is-bitcoin-how-does-it-work" target="_blank" rel="noreferrer noopener">&nbsp;happens roughly every four years</a>. The block rewards get halved as soon as the 210,000th&nbsp;block is mined.
Bitcoin halving is a method put in place for the cryptocurrency to help enforce synthetic price inflation until all Bitcoin have been mined and released. Theoretically, the Bitcoin halvings that occur should make it more expensive to create new Bitcoins and make the cryptocurrency more valuable.
Bitcoin acts the opposite of fiat currencies like the U.S. dollar with this method as currencies often lose their purchasing power over time instead of becoming more valuable.
The first Bitcoin halving happened on Nov. 28, 2012, followed by halving events in July 2016, May 2020 and April 2024.
13.&nbsp;All-Time Highs In 2021, 2024:&nbsp;Bitcoin enjoyed&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36083106/heres-how-much-100-invested-in-bitcoin-today-will-be-worth-if-crypto-hits-new-all-time-hig" target="_blank" rel="noreferrer noopener">a strong 2021</a>&nbsp;that saw the cryptocurrency added to the balance sheets of&nbsp;Tesla Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>),&nbsp;Block Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>)&nbsp;and other public companies. The cryptocurrency also hit an all-time high of $68,789.63 in 2021. Bitcoin traded at a range of $28,722.76 and $68,789.63 in 2021.
It took three years for Bitcoin, with 2024 presidential election acting as a catalyst, to hit <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42367065/exclusive-bitcoin-briefly-tops-100000-but-where-do-benzinga-readers-predict-it-will-finish-2024">new all-time highs</a> in 2024. The cryptocurrency continued to hit several new highs including soaring past the $100,000 milestone briefly in late 2024.
14. Market Cap Over $1 Trillion: In 2021, Bitcoin hit a market capitalization of $1 trillion for the first time. The cryptocurrency is the most valuable in the industry, with a market capitalization of $1.92 trillion at the time of writing.
With its current market capitalization, Bitcoin would rank as the sixth most valuable company in the world, trailing only Apple, Nvidia, Microsoft, Alphabet and Amazon.
15. Bitcoin ETFs:&nbsp;One of the top news stories for 2024 surrounding Bitcoin was the<a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36449219/bitcoin-crosses-45k-with-all-eyes-on-etf-countdown-is-jan-10-the-date-that-crypto-changes-" target="_blank" rel="noreferrer noopener"> approval of several Bitcoin ETFs</a>, which came after a federal court ruled against the U.S. Securities and Exchange Commission (SEC) and directed the regulatory agency to review the application from Grayscale Investments to convert its&nbsp;Grayscale Bitcoin Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#NYSE">GBTC</a>)&nbsp;into an ETF.
The Grayscale Bitcoin Trust is one of the top Bitcoin ETFs by assets under management today, ranking second as of the time of writing with $19.3 billion. The iShares Bitcoin Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) ranks first with $52.1 billion, followed by GBTC, Fidelity Wise Origin Bitcoin Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FBTC#BATS">FBTC</a>) and Ark 21Shares Bitcoin ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#BATS">ARKB</a>).
On July 1, 2013,&nbsp;Gemini&nbsp;founders&nbsp;Cameron and Tyler Winklevoss&nbsp;<a href="https://www.benzinga.com/24/12/42519107/if-you-invested-1000-in-bitcoin-when-the-first-bitcoin-etf-was-filed-heres-how-much-youd-have-today" target="_blank" rel="noreferrer noopener">filed the Winklevoss Bitcoin Trust</a>&nbsp;as a planned Bitcoin ETF. The Winklevoss twins saw their initial filing and a second attempt rejected in 2018.
16. U.S. Election Turns to Crypto: The 2024 U.S. presidential election saw one of the issues on voters' minds being cryptocurrency regulation and support. Donald Trump <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41096120/if-you-invested-1-000-in-bitcoin-when-donald-trump-said-he-wasnt-a-fan-heres-how-much-youd">showed a change of heart </a>after being against crypto.
&#8220;If you like crypto in any form…if you&#8217;re in favor of crypto you&#8217;d better vote for Trump,&#8221; the former president said in 2024.
Trump's campaign team went on to be the first major party campaign to<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38952866/trump-accepts-cryptocurrency-donations-in-bitcoin-ethereum-shiba-inu-dogecoin-and-more-say"> accept cryptocurrency donations</a>, following several primary candidates starting this practice. Donations of Bitcoin, Ethereum, Solana, Tether, XRP, Dogecoin, Cardano, Shiba Inu and Avalanche were accepted by Trump's campaign.
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This article was previously published by Benzinga and has been updated.
This image was created using artificial intelligence MidJourney.

Education

COIN

GBTC

TSLA

Happy Birthday Bitcoin: 16 Fun Facts About Leading Cryptocurrency

One of the more unusual trades by a member of Congress in 2024 was Rep. Mike Collins (R-Ga.) buying meme cryptocurrency Ski Mask Dog Coin (CRYPTO:SKI), which led to the crypto soaring in value and later hitting all-time highs shortly<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42330146/congressman-buys-meme-coins-ski-mask-dog-coin-climbs-in-value-after-disclosure-i-liked-the-coins-so-i-bought-them"> after the disclosure.</a>
A new filing shows Collins bought more after his last disclosure.
What Happened: The trading activity of <a href="https://www.benzinga.com/topic/congress-trading">members of Congress</a> continues to be closely followed by investors as stock purchases can come ahead of key information and potential gains.
While members of Congress likely don't have the same alleged insider information when it comes to cryptocurrency, trading activity in the sector warrants close monitoring, especially when it involves a meme cryptocurrency valued at around $225 million.
On Jan. 1, Collins disclosed that he purchased another $1,000 to $15,000 worth of Ski Mask Dog, adding to his previous disclosures in early December that he bought $2,000 to $30,000 worth of the meme coin.
The transaction, which can be viewed on <a href="https://www.benzinga.com/gov-trades">Benzinga's Government Trades page</a>, came on Dec. 3. That means that the same day that Collins' previous disclosed purchases began hitting the news, the Congressman was buying more of the coin.
Collins' latest trade was once again marked as unusual by several prominent social media accounts that track congressional trading activity.
<ul>
<li>"BREAKING: US politician Michael Collins has yet again bought crypto. He bought up to $15,000 of SKI MASK DOG, $SKI, crypto. Unusual," Unusual Whales <a href="https://x.com/unusual_whales/status/1874845104076390422">tweeted</a>.</li>
</ul>
<ul>
<li>"Congressman @RepMikeCollins just disclosed he bought more Ski Mask Dog on 12/3, the same day news of his first purchase broke and the coin rallied. So a Congressman single-handedly moved a market, then bought more, and disclosed it a month later," Congresstrading <a href="https://x.com/congresstrading/status/1874851774856884636">tweeted</a>.</li>
</ul>
Collins previously confirmed the purchase with Decrypt and also responded to a previous tweet from Unusual Whales with a meme of Pepe the Frog, a well-known image in the crypto community thanks to the meme cryptocurrency Pepe.
&#8220;I liked the coins, so I bought them,&#8221; Collins previously told Decrypt. &#8220;Washington and Wall Street have stigmatized emerging technology in the crypto ecosystem for far too long, and it&#8217;s about time that we start treating the industry with the respect it deserves.&#8221;
When asked about meme coins and if they need to be disclosed by members of Congress for trading activity, Collins said yes.
&#8220;Meme coins should certainly be treated as any other asset, digital or otherwise.&#8221;
Check This Out:
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<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent123124">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: Ski Mask Dog coin rallied in December after Collins first purchase was disclosed.
The coin hit an all-time high of $0.3639 on Dec. 5 after the Congressman's first purchase disclosure. The latest trade disclosure shows that Collins also bought more Ski Mask Dog coin on Dec. 3 ahead of the all-time highs.
Collins, who won re-election in the 2024 election, has previously disclosed buying and selling cryptocurrencies like Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), Aerodrome (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">AERO</a>), Velodrome (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">VELO</a>) and The Graph (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">GRT</a>).
Collins' purchases of Ethereum have been larger in recent disclosures compared to the meme coin he recently bought. The congressman has also disclosed selling some of the cryptocurrencies in the past, which could make the recent meme coin buy one to watch in case he later shows he sold it after the recent gains.
Calls to ban members of Congress from buying stocks and options have grown, with President Joe Biden recently <a href="https://www.benzinga.com/24/12/42538504/biden-endorses-ban-of-congressional-stock-trading-nobody-in-the-congress-should-be-able-to-make-money-in-the-stock-market-while-in-office">endorsing a ban </a>on Congress trading.
When it comes to members of Congress buying and selling cryptocurrencies, there is less support and it is less mentioned in potential legislation.
&#8220;Nobody in the Congress should be able to make money in the stock market while they&#8217;re in the Congress,&#8221; Biden said, failing to mention cryptocurrency.
Members of Congress are currently allowed to buy and sell stocks, options, cryptocurrency and make other investments as long as they are disclosed in 45 days.
Collins' trade, which happened nearly 30 days ago and came as his past trade in the same coin may have led to the price soaring could spark interest in putting the same ban on cryptocurrency. With pro-crypto President-elect Donald Trump taking office later this month, more members of Congress could be looking to add cryptocurrency to their investment portfolios.
Ski Mask Dog, which began trading in 2024, is up 6% in the past day.
The meme cryptocurrency currently trades at $0.2246 at the time of writing Thursday, versus a one-month range of $0.1472 to $0.3639.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/politics/24/01/36459015/10-best-stock-traders-in-congress-in-2023-spoiler-nancy-pelosi-is-back-on-the-list">10 Best Stock Traders In Congress In 2023 (Spoiler: Nancy Pelosi Has Reentered The Chat)</a></li>
</ul>
Photo: SMRM1977 via Shutterstock

Government

$AERO

Golden Ratio Token - United States Dollar

$GRT

$VELO

Congressman Buys More Ski Mask Dog Coin: Will Meme Coin Hit New All-Time-Highs On Latest Disclosure?

World Liberty Financial, a cryptocurrency project backed by President-elect Donald Trump, continued to add momentum to the coins it was purchasing.
What happened: ONDO, a tokenization-themed cryptocurrency, zoomed over 11% to record-breaking highs, becoming the fourth-biggest market gainer over the last 24 hours.
The coin's trading volume surged over 73% to $483 million, suggesting significant buying pressure.
ONDO serves as the governance token of Ondo Finance, a decentralized finance platform built atop Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) that tokenizes real-world assets.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:00 p.m. EDT)</td>
</tr>
<tr>
<td>Ondo (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ONDO</a>)</td>
<td>+11.81%</td>
<td>$2.08</td>
</tr>
<tr>
<td>Ethena (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ENA</a>)</td>
<td>+8.25%</td>
<td>$1.28</td>
</tr>
</tbody>
</table>
</figure>
Another Ethereum-based coin, ENA, lifted to an eight-month high following an 8% increase in the last 24 hours.&nbsp;
ENA is the native token of Ethena, a protocol that offers a so-called synthetic dollar for DeFi uses.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42500002/massive-crypto-exchange-witnesses-unusual-100-million-bitcoin-activity">Massive Crypto Exchange Witnesses Unusual $100 Million Bitcoin Activity</a>
The upsurge was powered by significant purchases by World Liberty Financial. The DeFi project spent $250,000 to buy 134,216 ONDO tokens on Sunday, on-chain data showed.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Donald Trump's World Liberty Financial (<a href="https://twitter.com/worldlibertyfi?ref_src=twsrc%5Etfw">@worldlibertyfi</a>) just spent 250K <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> to buy the first 134,216 <a href="https://twitter.com/search?q=%24ONDO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ONDO</a> an hour ago! Overall, since November 30, this fund has spent $44.75M to buy 6 crypto assets: • 8,105 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> (cost: $30M, avg buy price: $3,701), now +$2.12M • 102.9… <a href="https://t.co/KBaKgqvvq1">https://t.co/KBaKgqvvq1</a> <a href="https://t.co/ez4dNwmATA">pic.twitter.com/ez4dNwmATA</a>
&mdash; Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1868450217491935553?ref_src=twsrc%5Etfw">December 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
A day earlier, the fund acquired over $500,000 of ENA at an average buying price of $0.981.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Donald Trump's World Liberty Financial (<a href="https://twitter.com/worldlibertyfi?ref_src=twsrc%5Etfw">@worldlibertyfi</a>) is buying <a href="https://twitter.com/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ENA</a>! 3 hours ago, this fund spent 500,013 <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> to buy the first 509,955 <a href="https://twitter.com/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ENA</a> at an average price of $0.981. Overall, since November 31, World Liberty Financial has spent $44.41M to buy 5 crypto assets,… <a href="https://t.co/2jSNS2Oc00">pic.twitter.com/2jSNS2Oc00</a>
&mdash; Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1868073696663122207?ref_src=twsrc%5Etfw">December 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Since the beginning of December, the project has i<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42452819/trump-backed-world-liberty-financial-bags-10m-in-ethereum-whats-going-on">nvested more than $44 million</a> to bag cryptocurrencies like Ether, Aave (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/aave/usd">AAVE</a>), and Chainlink (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/link/usd">LINK</a>) along with ONDO and ENA.
World Liberty Financial is being <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40905315/donald-trumps-new-crypto-project-world-liberty-financial-everything-you-need-to-know">promoted as a decentralized money market </a>that will allow users to borrow, lend, and earn interest on cryptocurrencies.
Trump and his family have aggressively promoted the project, and a firm associated with the President-elect, DT Marks DEFI, LLC, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41395007/trump-affiliated-entity-will-get-75-of-world-liberty-financials-revenue-and-22-of-wlfi-tok">would receive 75% of the protocol revenue</a>.
Trump <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42499633/exclusive-eric-trump-declares-bitcoin-the-future-details-tax-free-crypto-goals-for-trump-presidency">positioned himself as the &#8220;Crypto President&#8221;</a> through several bold commitments, and his involvement with any coin, no matter how minor, significantly piques the market&#8217;s interest.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42499633/exclusive-eric-trump-declares-bitcoin-the-future-details-tax-free-crypto-goals-for-trump-presidency">Eric Trump Declares Bitcoin The Future, Details Tax-Free Crypto Goals For Trump Presidency</a></li>
</ul>
Photo courtesy: Wikimedia

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