Grayscale Evaluates 39 Altcoins
Grayscale Investments has announced plans to explore 39 alternative cryptocurrencies for inclusion in its investment portfolio. Among these, THORChain ($RUNE ) and Pendle ($PENDLE ) stand out for their innovative features and growth potential. The potential addition of these altcoins to Grayscale's portfolio could increase their legitimacy and visibility in the market. Investors are eagerly monitoring this development, anticipating a possible surge in value and adoption if Grayscale launches dedicated trust funds for these tokens.
Real-World Asset Tokenization Gains Momentum
Blockchain is increasingly making strides in tokenizing real-world assets (RWAs). MANTRA ($OM ), a Layer 1 blockchain designed for compliance with regulatory frameworks, has partnered with UAE's DAMAC Group to tokenize $1 billion worth of real estate and business assets. This initiative, set to launch in early 2025, could pave the way for further adoption of blockchain in asset tokenization.
Ripple ($XRP) Rallies Beyond $3
Last week, Ripple ($XRP) recorded a remarkable 29.9% price surge, crossing the $3 mark for the first time. This rally came despite the SEC appealing a court decision on XRP's sales. Optimism surrounding SEC Chair Gary Gensler’s impending departure (January 20, 2025) and the nomination of pro-crypto advocate Paul Atkins has bolstered investor sentiment. A shift in regulatory focus under new leadership could further fuel XRP’s momentum.
Bitcoin’s Bull Run Outlook
Bitcoin’s journey has been volatile, with its price dropping from $102,000 to $91,000 last week. However, optimism remains for a continued bull run in 2025. The market has shown resilience following challenges like the FTX collapse and SEC actions against major players. After reaching a new high of $73,000 in late 2023, BTC is positioned for another upward trend, with key events like Trump’s inauguration on January 20 expected to catalyze market sentiment.
Our analysis anticipates a potential correction after the inauguration, followed by a rally targeting the 1.618 Fibonacci extension level. However, if BTC breaks below $84,000, market dynamics may shift, necessitating reevaluation.
Options Market Insights
The options market reflects high volatility and uncertainty:
BTC DVOL levels have hovered around 60, indicating sustained volatility.
XRP has seen a 30% price increase this week, with options trading showing a flat volatility smile at elevated levels, hinting at potential breakout scenarios.
Macro Highlights
Eurozone CPI: December recorded a 0.4% monthly increase, with annual growth at 2.4%.
US Nonfarm Payrolls: A robust 256,000 jobs added in December, increasing concerns over slower Fed rate cuts.
US CPI: December data aligned with expectations, boosting investor optimism and BTC prices above $100,000.
Convert Portal Volume Trends
Bitcoin trading saw significant fluctuations, with prices dropping to $89,250 before rebounding above $94,000. Optimism around Trump’s potential pro-crypto executive orders has renewed interest in crypto assets.
OTC Trading Options
Binance’s OTC services offer multiple ways to trade, including:
Chat communication channels
Manual and Algo Orders on Binance Convert
Automated price quotations via Binance Convert OTC API
For detailed OTC trading options, visit:
Binance OTC Trading