Morning Minute | Trump's Crypto Impact Strengthens
TylerD's Market Summary
🇺🇸 The Trump Crypto Headlines Pour In
The "First Crypto President" takes office in 4 days.
But the bullish headlines aren't waiting for Monday to start rolling in.
They're already coming, and in batches.
What Happened?
Yesterday had several major announcements with macro crypto impacts, mostly related to Trump's campaign promises.
For a quick list:
- The SEC is expected to revamp crypto policy and may pause enforcement actions
- The DOJ ordered the return of the $9B in Bitfinex Bitcoin to its rightful owners
- Both Texas and Oklahoma saw formal bills introduced to create Strategic Bitcoin Reserves, and the country of Thailand is also considering allowing Bitcoin ETF listings
- Bitwise's CEO said they've had conversations with nation states about buying Bitcoin ETFs
- Trump is also apparently receptive to an American crypto reserve featuring SOL, XRP and USDC
So a pause in enforcement actions, a return of $9B in Bitfinex Bitcoin to rightful owners, more states and nations looking at Bitcoin reserves, and a potential "American crypto reserve" featuring Solana and XRP.
That's a good quarter of headlines - packed into a single day.
Why It Matters
There's a lot to unpack here.
Starting with the SEC item, pausing enforcement actions sets the tone that the Trump SEC is going to re-evaluate everything and likely let businesses operate with less stringent oversight (and hopefully put in rules of the game).
The states going after Bitcoin reserves shows us that even if Trump can't get that done at the national level, we may see at least some Red states get it done. And clearly just the chance that the US may implement has perked the attention of other nations.
Then there's the American crypto reserve item.
This is new, but not a major surprise to anyone following XRP price action. XRP has been surging as of late and the clear top mover among crypto majors. It's up 17% on a day where ETH is up 5%, and now barely more than a 2x away from flipping ETH and becoming the #2 crypto asset.
That is a big deal.
And it's a big deal for Solana as well, which already has a big year ahead with Firedancer, reduced inflation, continued builder momentum and potential ETFs.
There is a scenario on the table where both XRP and Solana flip ETH in 2025. Even if they don't flip, they have plenty of room to run.
Buckle up, 2025 is set to become more bullish than you can even imagine...
🚚 What is happening in NFTs?
Here is the list of other notable headlines from the day in NFTs:
- ETH NFT leaders were mostly green, led by Apes and Doodles; Punks -1% at 40 ETH, Pudgy +3% at 23.9, BAYC +7% at 15.35 ETH, Azuki +1% at 12.5 ETH, Doodles +5% to 5.15 ETH
- CDBs S3 (+23%) and Boo Bears (+21%) led notable top movers
- BTC NFT leaders were mostly red; Bitcoin Puppets -4%, NodeMonkes -5%, OMB -2%, Quantum Cats +3%
- The Runes leaders were mostly green; DOG +12% at $540M mc, PUPS +6% at $72M, BDC +6% at $37M, GIZMO +8% at $13M
💰 Token, Airdrop & Protocol Tracker
Here's a rundown of major token, protocol and airdrop news from the day:
- Justin Sun is offering 20% yield on Tron stablecoin USDD and saying people should "stop" asking about where the yield comes from
- SOLV is launching its token on Hyperliquid and BNB on Friday, allowing Bitcoin holders to stake, earn yield and use defi by holding SolvBTC
- Jupiter rolled out its Airdrop allocation checker along with more info on its distribution method
- Pump Fun is facing a lawsuit from Burwick Law on behalf of investors who lost money on the platform
- Hyperliquid's Assistance Fund crossed $100M used for re-buying its native token
🤖 AI x Crypto
New section dedicated to headlines in the AI sector of crypto:
- Overall market cap jumped 20% to $18B, adding $3B in market cap on the day
- Most leaders up an additional 15-30%: VIRTUAL (+30%), ai16z (+15%), FARTCOIN (+25%), AIXBT (+37%) and GRIFFAIN (+34%); ARC notable mover +35% to $460M
- Top movers include MOBY (+70%), AICC (+55%), ALCH (+53%), BUZZ (+50%), and CHAOS (+50%)
- AIXBT holds top spot in mindshare, soaring to $920M and making a smashing new ATH on the day
- DWAIN was the newest Holoworld Agent to launch and hit $18M, with a seasoned team and an agent focused on strategy games
- SORA debuted and hit $20M before falling to $10M for its open-source AI conversation framework project built in Go
- ai16z announced a new humanoid robot Eliza product, meant to be a "productivity partner" and companion for users, priced at $420k
- ARC announced a partnership with GRPH for agent memory systems
- The Hive won first place in the Solana Hackathon, winning $60k and seeing its BUZZ token soar 45% to $115M (FXN came in 2nd, Jailbreak in 3rd)
- Aiccelerate DAO (AICC) shared an update on its mission, vesting, first investments, current project and more in a lengthy statement
- Abstract announced an open-source repo for creating AI agents with long term memory systems using OpenAI Embeddings
- The Bully team announced its Zerebully NFT (hybrid Zerebro + Bully) minting on Jan 20th with Bully holders getting first access
🌎 Macro Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
- Crypto majors are up big after soft CPI data, XRP and SOL lead; BTC +3% at $99,200, ETH +5% at $3,350, SOL +15% at $215, XRP +19% at $3.26
- ALGO (+22%), HBAR (+20%), XDC (+19%) & LTC (19%) led alts
- The SEC filed an appeal in the Ripple lawsuit to classify XRP as a security
- Donald Trump's SEC is expected to revamp crypto policy and may pause enforcement actions
- The DOJ ordered the return of the $9B in Bitfinex Bitcoin to its rightful owners
- Both Texas and Oklahoma saw formal bills introduced to create Strategic Bitcoin Reserves, and the country of Thailand is also considering allowing Bitcoin ETF listings
- Bitwise's CEO said they've had conversations with nation states about buying Bitcoin ETFs
- Trump is also apparently receptive to an American crypto reserve featuring SOL, XRP and USDC
- The RWA tokenization market is expected to hit $50B in 2025 according to Ozean
- MicroStrategy plans to raise $2B through a perpetual preferred stock offering to acquire more Bitcoin
- Memecoin majors are very green up 10-20%; DOGE +10%, SHIBA +7%, PEPE +10%, PENGU +10%, BONK +10%, WIF +18%, MOG +5%
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