Cryptocurrency
Solana, Toncoin, Green Bitcoin Among Top Crypto Gainers This Monday
The crypto market is off to a hot start this Monday, as Solana (SOL), Toncoin (TON), and Green Bitcoin (GBTC) lead the pack of top gainers.
These cryptos have been on a tear, posting eye-catching gains that have outpaced major players like Bitcoin (BTC) and Ethereum (ETH).
SOL Leaves Altcoins in the Dust with a 9% Surge
Solana is the talk of the crypto market today, surging an impressive 9% in the past 24 hours and leaving most digital assets in the dust.
The rally has propelled SOL to a price of $201 per token, a level not seen since the heady days of December 2021.
It’s a significant milestone for Solana, which has been on a tear lately.
In fact, SOL’s meteoric rise has catapulted it to the 4th spot on the list of largest cryptocurrencies by market cap, leapfrogging over Binance Coin (BNB) in the process.
Even more impressive is that Solana has had more spot trading volume in the past 24 hours than BNB, Shiba Inu (SHIB), and Avalanche (AVAX) combined.
Clearly, traders and investors are betting big on Solana’s future.
And with SOL now just 31% below 2021’s all-time high, the question on everyone’s mind is whether this rally can propel the token to a new record valuation.
TON Rallies 13% as ICO Rumors Swirl
But Solana isn’t the only cryptocurrency making waves today.
Toncoin is also experiencing a bullish moment, rocketing 13% in the past 24 hours and currently trading at $3.90.
This is just the latest chapter in TON’s incredible success story, which has seen the token soar by 67% since the start of the year.
Thanks to this, TON has outpaced many major altcoins and established itself as one of 2024’s breakout stars.
TON is now the 13th largest cryptocurrency by market cap – and with spot trading volumes up 55% since yesterday, it’s clear that investors are buzzing about its prospects.
Part of the excitement stems from the potential for Telegram, the messaging app closely associated with Toncoin, to go public via an IPO.
If that happens, many believe it could send TON’s price to a new all-time high.
With such bullish catalysts on the horizon, it’s no wonder savvy investors are keeping a close eye on Toncoin, eager to gain exposure to its rally.
Eco-Friendly Crypto Green Bitcoin Captivates Investors & Nears $6m Presale Raise
Alongside Solana and Toncoin, another promising project has been making waves in the crypto market – Green Bitcoin.
This project, currently in its presale phase, is turning heads due to its unique approach to sustainable cryptocurrency investing.
Green Bitcoin is built on the Ethereum blockchain, leveraging its eco-friendly Proof-of-Stake consensus mechanism to minimize environmental impact.
But what really sets Green Bitcoin apart is its unique “Gamified Green Staking” system.
By participating in weekly Bitcoin price prediction challenges, GBTC holders can earn substantial rewards while actively engaging with the platform.
The more accurate the predictions and the longer the staking period, the bigger the potential earnings.
Green Bitcoin’s presale has already generated significant buzz, with $5.8 million raised and 64% of the total GBTC supply staked.
Early adopters are eagerly securing their tokens, anticipating the potential for impressive returns once GBTC hits the open market.
With a well-defined roadmap and a strong focus on community building, Green Bitcoin looks poised to make an impact on the crypto space.
In fact, YouTuber Matthew Perry, who has an audience of 216,000 people, believes it could be one of the biggest new crypto launches of the year.
Whether Perry’s prediction comes true, there’s seemingly an appetite for eco-friendly crypto projects like Green Bitcoin.
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Cryptocurrency
US Entities’ Bitcoin Holdings Reach Massive Record: Details
The US entities’ share of global Bitcoin reserves has reached an all-time high amidst increasing confidence in the asset class. The figure is now 65% higher than non-US entities, according to CryptoQuant CEO Ki Young Ju.
This milestone is based on an analysis of Bitcoin holdings by identifiable US entities – including miners, MicroStrategy (MSTR), ETFs, exchanges, and government accounts – compared to known offshore counterparts.
Institutional Demand Pushes US Bitcoin Reserve Ratio to ATH
As per the infographic shared by the exec, the ratio of US to non-US Bitcoin reserves has seen a sharp increase as it rose from 1.24 in September 2024 to 1.66 by December 16 and maintained a level of 1.65 as of January 6, 2025. This shift follows a period in 2023 when offshore holdings predominated while Bitcoin traded under $30,000.
U.S. entities’ #Bitcoin reserve share hit ATH, now 65% higher than non-U.S. entities. pic.twitter.com/SSgotY6RL8
— Ki Young Ju (@ki_young_ju) January 9, 2025
The recent surge in US-based Bitcoin reserves aligns with key events. This includes pro-crypto Donald Trump’s re-election and his proposal to establish a national strategic Bitcoin reserve, which coincided with the leading crypto asset’s surge to an all-time high above $108,000.
Institutional interest has also surged, as evidenced by spot Bitcoin ETFs experiencing record inflows and trading volumes alongside MicroStrategy’s ongoing accumulation.
The latter currently holds 447,470 BTC after its latest purchase of 1,070 BTC. The company also announced plans to raise $42 billion over three years to expand its Bitcoin portfolio.
Several companies have followed MicroStrategy’s footsteps. Despite the minor slump in the market, small entities in the country remained committed to Bitcoin. For instance, this week, Thumzup Media Corporation, known for its expertise in social media branding and marketing, purchased 9.783 BTC for approximately $1 million.
The company entered the Bitcoin market for the first time in November 2024, shortly after Trump’s election win. During the same period, Solidion Technology, specializing in battery materials, revealed its intention to invest a portion of its cash reserves in Bitcoin. Genius Group quickly followed, rolling out a Bitcoin-focused initiative and committing $120 million to the digital asset.
Global Governments and Corporations Ramp Up Interest
These developments have sparked interest among non-US entities and governments in building their own strategic Bitcoin reserves. The most prominent example of this is the Japanese venture capital fund Metaplanet, which has set a target of 10,000 BTC as part of its 2025 vision.
Metaplanet CEO Simon Gerovich recently even predicted a global rush for BTC reserves if Trump establishes a US strategic Bitcoin reserve. The exec said that Japan and other Asian countries would likely follow the US lead, viewing Bitcoin as a strategic national asset.
He highlighted growing corporate and governmental interest in BTC and added that such trends with principles in “The Bitcoin Standard.” Gerovich also noted that Trump’s reserve strategy could also inspire third-world countries to adopt Bitcoin to stabilize their currencies.
Governments around the world are already considering Bitcoin as a reserve asset. Czech National Bank Governor Aleš Michl, for one, proposed acquiring Bitcoin for diversification in a bid to join the likes of Switzerland, Germany, and Hong Kong in exploring crypto reserves.
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Cryptocurrency
These Altcoins Bleed Out as Bitcoin (BTC) Slips Below $93K (Market Watch)
Bitcoin just doesn’t seem to be able to catch a break, as the asset slipped below $93,000 on a couple of occasions in the past 12 hours or so.
Many altcoins are also in dire situations, with notable price losses from the likes of DOGE, ADA, AVAX, LINK, and others.
BTC’s Troubles Keep Mounting
It was just about 48 hours ago when the primary cryptocurrency was charting new yearly peaks. Recall that the asset had climbed above $102,000 after a relatively quiet weekend amid growing ETF inflows, but then the landscape changed after the US announced the latest jobs report.
In a matter of minutes, the cryptocurrency plunged from six-digit territory to under $97,000 on Tuesday afternoon. The situation worsened on Wednesday as the bears kept pushing BTC south, which culminated in a price drop to $92,500 (on Bitstamp). After that weekly low, bitcoin bounced off and touched $95,000, but that was short-lived as the ETF flows turned negative, with nearly $600 million in the red.
As the Thursday Asian trading session progressed, BTC dropped once again to under $93,000. Although it sits just above that line now, the asset has lost nearly ten grand since Tuesday morning.
Its market cap has plummeted below $1.850 trillion but its dominance over the alts stands tall above 54% on CG.
ADA Down 8.5%
The altcoins are in no better shape, especially Cardano’s native token. ADA has plunged by more than 8% in the past 24 hours and has lost the $1 mark. DOGE, AVAX, LINK, and XLM are the other massive losers within the same time frame, with declines of up to 7%.
Nevertheless, the biggest and most painful decreases are evident from AI16Z and WIF. Both assets have tumbled by double digits (19% and $14%, respectively) to $1.47 and $1.62.
The cumulative market cap of all crypto assets has lost over $350 billion in two days and is down to $3.4 trillion on CG.
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Cryptocurrency
Top Cardano (ADA) Price Forecasts: Further Decline or a Rise to a New ATH?
TL;DR
- Analysts highlight a potential breakout for ADA, supported by bullish chart patterns and upcoming developments for Cardano.
- However, recent whale sales of millions of tokens could negatively affect the price.
The Bullish Scenario
Despite the solid start to the year, the past few days have not been kind to the cryptocurrency market. Bitcoin’s (BTC) price has plummeted by around 9% on a 48-hour scale, while numerous altcoins have suffered even more substantial declines.
Cardano’s ADA is one of those, with its valuation dumping by 20% since January 7. Currently, it trades at around $0.91 (per CoinGecko’s data), while its market capitalization fell well below $35 billion.
The popular X user Dan Gambardello, though, remains an optimist. Recently, he claimed that ADA has “one of the most bullish weekly pattern setups in crypto,” which represents an “inverse head and shoulders with upward sloping neckline.” Gambradello assumed that a breakout to the upside could result in a price rally to as high as $7.
Altcoin Daily chipped in, too. At the start of the year, they outlined bullish predictions about multiple cryptocurrencies, envisioning ADA’s valuation to hit $6.45 sometime in 2025. It is worth mentioning that the analyst said this target should not be taken for granted, suggesting that “any altcoin can theoretically go to zero at any time.“ They also warned people to invest only as much as they are ready to lose.
Meanwhile, Cardano is set to undergo some essential developments in the next 12 months that could trigger upward pressure on the price of the native token. Those willing to check what’s on the agenda can take a look at our dedicated video below:
How About a Further Pullback?
Contrary to the aforementioned bullish predictions, some factors signal that ADA could continue plunging in the near future. Earlier this week, the X user Ali Martinez revealed that whales have sold over 70 million tokens in the span of 48 hours.
Such actions from large investors increase the circulating supply of ADA and could be followed by a price decline (assuming demand doesn’t catch up with the pace). Additionally, the move may discourage smaller players and trigger a more substantial selling spree.
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