Crypto News Highlights: Key Developments Impacting Bitcoin, DeFi, NFTs, Web3, and Regulations
Here’s a roundup of the latest trends and events shaping the crypto market today:
Bitcoin DeFi Experiences Explosive Growth in 2024
Bitcoin-based decentralized finance (BTCFi) had a breakout year in 2024, with the total value locked (TVL) skyrocketing by over 2,000%. TVL surged from $307M in January to $6.5B by year-end, driven by infrastructure advancements and rising Bitcoin prices post-April halving. Notably, Babylon, a Bitcoin-native staking platform, played a pivotal role, controlling 80% of BTCFi’s TVL.
Trump’s Executive Order to Prioritize Crypto
US President-elect Donald Trump is reportedly preparing to sign an executive order designating cryptocurrency as a national priority. The order, expected on Jan. 20, aims to guide regulatory agencies to collaborate with the crypto industry and establish a crypto advisory council. This move aligns with Trump’s campaign promise to position the US as a global crypto leader.
XRP Breaks New Ground
For the first time since 2017, XRP has entered price discovery, fueled by three consecutive months of green candles. XRP’s price hit new highs on certain exchanges, and open interest reached a record $7.9B, marking a 300% rise since Jan. 1, 2025. Futures trading volume has also doubled, reflecting significant market activity.
Broader Market Trends
The crypto market remains optimistic amid Bitcoin’s climb past $103,000 and speculation of a larger bull run. Ripple and other altcoins have also shown strong performance, contributing to the growing momentum across the sector.
This mix of regulatory developments, technological advancements, and market activity signals a dynamic year ahead for the crypto industry.
