XRP Soars to 7-Year High as FTX Prepares to Repay $1.2 Billion!

Enthusiasm among cryptocurrency investors is noticeably high as they eagerly await U.S. President-elect Donald Trump’s inauguration on January 20th. This event is anticipated to provide a clearer regulatory framework for the industry, which could potentially boost its growth and stability.

Encouraged by the possibility of regulations becoming more favorable for the industry, the XRP (XRP) token reached its peak since 2018, undeterred by the most recent lawsuit appeal from the U.S. Securities and Exchange Commission.

Following Trump’s inauguration, the formerly bankrupt cryptocurrency exchange FTX plans to return more than $1.2 billion to its customers. This move is considered a major boost in liquidity within the crypto market.

XRP hits seven-year high as optimism outweighs SEC appeal concerns

The price of XRP reached a peak not seen since January 2018, buoyed by growing optimism about forthcoming cryptocurrency regulations, despite the recent legal challenge posed by the SEC’s latest court action.

On January 15, the price of XRP (XRP) peaked at a seven-year high of $3.20, but later dropped to $3.09 by 8:45 am UTC on January 16. According to CoinMarketCap data, XRP has surged more than 32% in the weekly chart.

The rally occurred despite the fact that, on January 15th, the Securities and Exchange Commission (SEC) filed an appeal. This appeal aimed to overturn a decision made by District Judge Analisa Torres in July 2023, where she ruled that sales of XRP to retail investors were not considered unregistered securities. The SEC is attempting to reclassify those retail sales as unregistered securities.

Regardless of the SEC’s appeal, the market appears to be siding with the partial legal successes achieved by Ripple Labs in their ongoing lawsuit, as suggested by Ryan Lee, the chief analyst at Bitget Research.

According to the analyst, the ongoing legal wins regarding XRP and growing investor confidence due to potential future crypto regulations have primarily fueled the recent surge in XRP’s market value, as reported by CryptoMoon.

FTX to begin distributing $1.2 billion to creditors after Trump inauguration

FTX is getting ready to dispense over $1.2 billion as refunds to the users of its failed cryptocurrency trading platform.

Originally ranked as the second-biggest centralized crypto trading platform globally, FTX, is now preparing to return funds to users who have been locked out of their accounts for more than two years.

Users with digital asset debts up to $50,000 must complete their repayment obligations by January 20.

Based on information from Sunil, a member of the FTX Customer Ad-Hoc Committee and one of the largest FTX creditors, it’s expected that FTX will initiate repayments for claims up to $50,000 starting from January 20th.

Hyperliquid’s $7.5 billion airdrop marks shift from centralized token listings

As a crypto investor, I’m eagerly anticipating the decentralized launch of the Hyperliquid (HYPE) token. This event could mark the beginning of a “new era” for on-chain fair launch cryptocurrencies, offering a refreshing change after some underwhelming experiences with token launches on centralized exchanges.

Following the historic airdrop of significant value in the cryptocurrency sphere, the Hyperliquid token garnered attention due to its decentralized dissemination, a process that did not involve venture capital firms or initial investors.

In a private chat at the Emergence Prague 2024 conference, Vitali Dervoed, the co-creator and head of Composability Labs, shared his thoughts: At the CryptoMoon interview.

“The HYPE token launch marks the beginning of the new era between centralized exchange listings and onchain […] Because HYPE was launched by the protocol on its order book on its own layer 1.”

AI token market to hit up to $60 billion in 2025 — Bitget CEO

According to Gracy Chen, the CEO of Bitget, it is predicted that tokens associated with artificial intelligence agents could see a significant increase in value, potentially reaching a total market capitalization of up to $60 billion by 2025, as reported by CryptoMoon.

As a researcher delving into the realm of artificial intelligence, I’m particularly excited about the initial applications of AI agents in the cryptocurrency sector. For instance, these agents could facilitate transactions such as trading and wallet management, making them an invaluable tool for crypto enthusiasts. Furthermore, it’s anticipated that crypto exchanges will soon integrate AI agents to streamline operations and enhance customer service experiences, thereby creating a more seamless and efficient digital economy.

Chen warned that the current state of the technology isn’t advanced enough for significant investments because it still requires human oversight. He recommended that investors consider investing in tokens associated with practical, real-world solutions, specifically those designed to replace programming jobs or automate tasks.

According to Chen’s report, agentic AI tokens currently have a total market value of around $15 billion and a daily trading volume of approximately $875 million.

AI agents’ market cap surges 222% in Q4 2024, driven by Solana

Artificial Intelligence (AI) agent market value skyrocketed by an impressive 222% between October and December in 2024, growing from a starting point of $4.8 billion up to a staggering $15.5 billion by year-end.

In January, CoinGecko unveiled their “2024 Annual Crypto Industry Report,” highlighting that the AI agent sector gained traction swiftly following the debut of the Goatseus Maximus (GOAT) token on the Solana platform in October.

AI agents refer to self-governing computer programs powered by artificial intelligence, which they utilize to execute tasks, frequently within the realm of Decentralized Finance (DeFi) or serving as crucial elements in blockchain environments. These AI agents encompass a variety of functions such as automated trading algorithms and decision-making systems that work with smart contracts.

DeFi market overview

Based on information from CryptoMoon Markets Pro and TradingView, it appears that a majority of the top 100 cryptocurrencies, as ranked by their market capitalization, experienced an increase (or ‘green’) in value by the end of last week.

Among the top 100, Fartcoin, which operates on Solana, experienced a surge of more than 58%, making it the largest weekly gainer. The XDC Network token came in second place, increasing by over 49%.

Appreciate you going through our recap of this week’s significant developments in Decentralized Finance. Catch up with us next Friday for additional tales, insights, and learning opportunities in this rapidly evolving sector.

2025-01-17 22:04