Market expectations indicate that the Bank of Japan will raise interest rates on January 24, which may trigger a new round of yen arbitrage trading unwinding.
Author: Deep Tide TechFlow
Yesterday's Market Dynamics
Phantom completes $150 million Series C funding at a $3 billion valuation, led by Sequoia Capital and Paradigm
According to official news, crypto wallet Phantom announced the completion of a $150 million Series C funding round, achieving a valuation of $3 billion. This round was co-led by Sequoia Capital and Paradigm, with participation from a16z and Variant. The company stated it will use the new funding to accelerate the adoption of cryptocurrency, aiming to build the world's largest consumer finance platform.
Bloomberg Analyst: Litecoin ETF has met all approval conditions and may be the first altcoin ETF approved this year
Bloomberg senior ETF analyst Eric Balchunas stated that the Litecoin ETF has met all approval conditions and is expected to become the first altcoin ETF approved in 2025. Given that the SEC has provided feedback on the S-1 filing and Litecoin is considered a commodity, along with the new leadership at the SEC, Balchunas believes the application is unlikely to be withdrawn.
Previously, Nasdaq submitted the 19B-4 filing for the Canary Litecoin ETF, officially starting the regulatory review process.
Grayscale XRP Trust product is now open to qualified investors
According to official news, Grayscale announced the launch of the XRP Trust product, which is now open to qualified accredited investors, providing exposure to XRP assets. As of January 16, 2025, the net asset value per trust share is $65.20. This product is one of the first securities to invest purely in XRP, allowing investors to gain related investment opportunities without directly purchasing, storing, and safeguarding XRP.
Market News: Grayscale may launch Helium (HNT) Trust product, registered in Delaware
Delaware company registration documents show that a statutory trust fund named "GRAYSCALE HELIUM TRUST (HNT)" was registered in Delaware on January 14, 2025. The trust is represented by CSC DELAWARE TRUST COMPANY as the registered agent, with its registered address in Wilmington, Delaware.
Analysis: Market expects the Bank of Japan to raise interest rates on January 24, which may trigger a new round of yen arbitrage trading unwinding
The market expects the Bank of Japan to raise interest rates with a 90% probability at the meeting on January 24, with the yen rising to its strongest level against the dollar in a month at 156. Japan's annual inflation rate is currently at a three-month high of 2.9%, and the central bank may raise rates from 0.25% to 0.45%.
The market is closely watching the inflation data release on January 23. If the inflation data exceeds expectations, it may trigger a new round of yen arbitrage trading unwinding, reminiscent of last August when Bitcoin fell to $49,000. Notably, this decision will come after Trump's inauguration (January 20), and the two events may have a combined impact on the cryptocurrency market.
Coinbase launches DeFi-based Bitcoin lending service for U.S. users, powered by Morpho
Coinbase announced the launch of a DeFi-based Bitcoin lending service for U.S. users (excluding New York). This service is powered by the DeFi lending protocol Morpho. When users collateralize Bitcoin, the assets will be automatically converted to cbBTC and transferred to the Morpho protocol.
This marks an important attempt by Coinbase following the termination of its original lending program in July 2023 due to SEC regulatory pressure. Coinbase's VP of Product Branzburg stated that users must bear the risk of floating interest rates. This service signifies a milestone in the deep integration of centralized exchanges with DeFi and will gradually expand to other regions.
Bybit to launch Solv Protocol (SOLV) spot trading
Bybit announced it will launch Solv Protocol (SOLV) spot trading on January 17. SOLV will open for deposits at 8:00 UTC on January 17, with trading officially starting at 10:00 UTC, and withdrawals opening at 10:00 UTC on January 18. Users can deposit and withdraw SOLV through the BSC network.
Binance Alpha adds LLM, SEKOIA, and PYTHIA
Binance Alpha has added LLM, SEKOIA, and PYTHIA.
LLM: A concept coin based on Solana's large language model, currently valued at $28.08 million;
SEKOIA: An on-chain VC project based on the Base chain, valued at $69.27 million;
PYTHIA: Focused on the integration of neurobiology and AI on the Solana chain, valued at $24.38 million.
1confirmation founder: Crypto narrative will shift from short-term speculation to on-chain financing for world-changing risk projects
1confirmation founder Nick Tomaino expressed the view that the focus of the crypto industry will eventually shift from chasing weekly short-term narratives to providing on-chain financing for world-changing risk projects. These projects include network states, public goods DAOs (such as military, police, fire services), space exploration, and lucid dreaming technology.
Tomaino emphasized that these projects struggle to secure funding through traditional financing channels, while the innovative financing mechanisms of the crypto ecosystem will provide new possibilities for them.
Market Dynamics
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According to the report, the AI agent industry has developed rapidly in the past two years, reaching a market value of $15.3 billion. Among them, the AI agent platforms Virtuals and ai16z have attracted significant attention, holding 23% and 12% of the market share, respectively. These two platforms provide important infrastructure and key support for the AI agent ecosystem.
Solana AI Hackathon concludes, a quick overview of the winning projects
SendAI announced the winning projects of the Solana AI Hackathon. According to official statistics, the event lasted 15 days and attracted over 400 projects to participate, with a total prize pool exceeding $275,000, ultimately divided into 9 categories with 21 projects winning awards.
Let's take a look at which projects emerged victorious and how their tokens performed.
Sonic SVM, as a Layer-2 scaling solution on Solana, successfully attracted over two million TikTok users through the launch of the point-earning game SonicX.
With TikTok set to be banned in the U.S., Sonic SVM's acquisition of TikTok traffic may be impacted. However, the current price of the SONIC token remains relatively stable, seemingly unaffected.
A roundup of important developments from 11 leading projects set to launch tokens in Q1
Only three key projects have clearly stated they will launch their mainnet in the first quarter, while the launch times for other projects remain to be determined.
Many projects' token launch times are merely rumors or speculations, lacking official announcements.
Delphi Digital predicts the top 10 trends in the crypto market for 2025: Bitcoin will rise further, Solana's rise will continue, NFTs will recover, DeFi will transition to DeAI, AI agents will become top venture capitalists, high-throughput public chains will drive innovation, the DePin industry will see a revival, zkVM will bring transformation, AI will empower GameFi, and consumer-grade DeFi will be the next growth prospect.
The total transaction fees for Memecoins on the Solana chain exceeded $3 billion. The top users among Memecoin users contributed the majority of the fee income, with four types of platforms—Raydium, trading Bots, Jito, and Pump.fun—being the main beneficiaries. Additionally, the report delves into the spending behavior of Memecoin users in 2024 from aspects such as spending concentration and cross-platform characteristics.
2025 Crypto Investment Guide: How to Allocate Assets for Maximum Returns in the New Year?
This article outlines how a cryptocurrency investor can manage their investment portfolio in 2025. Based on their investment goals and risk tolerance, they categorize their investments into different "buckets," including long-term holding, periodic investments, short-term trading, and stablecoins. The article also provides practical advice, such as focusing on areas of expertise, being flexible in response to market changes, and timely stop-losses, while sharing personal trading experiences.
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