Market update
Cointree Crypto Market Update - January 8th 2025
Market report for traders
🎉 It's a new year for crypto!
Hello and welcome to the new year of 2025! We’re sure it’s going to be an exciting one for crypto and DeFi, with innovation and market developments already underway. Let’s jump right into the headlines making waves:
đź”® BTC and altcoins
Over the last 7 days, Bitcoin ends at AU$155,614 moving -4.66% at the time of writing. Meanwhile, Ethereum ends at AU$5,446 moving -7.57% week-on-week. On the Altcoin side, Solana -6.74%, Cardano -7.66%, and XRP -3.29% change.
🗞 What’s happening in the news?
đź’Ž Trader Turns AU$3,100 Into Over AU$4.64 Million in 10 Hours
A mystery trader turned an initial AU$3,100 investment into more than AU$4.64 million by trading the newly launched Hyperfy (HYPER) token — a 1,500-fold return on investment. This windfall happened in just 10 hours, even as the broader crypto market was sluggish due to low post-holiday liquidity.
Stories of such massive gains do occur, but they’re few and far between — a reminder that patience and careful research are crucial, and returns like this truly happen once in a blue moon.
🇺🇸 Judge Freezes SEC Lawsuit Against Coinbase
In a major legal twist, United States District Judge Katherine Failla has hit the pause button on the Securities and Exchange Commission (SEC) lawsuit against Coinbase. Judge Failla granted Coinbase’s motion for an interlocutory appeal, effectively pausing the case until higher courts address a key question: Are most crypto assets simply securities under existing law, or does crypto warrant new legal guidelines?
The judge pointed out that “conflicting authority exists regarding Howey’s application to crypto-assets,” referencing the 1946 Howey Test that defines whether an asset is a security. This is being hailed as a significant win for Coinbase and crypto advocates. They argue that clarity is needed, given the court system’s varied rulings across different states.
🌀 Ripple Taps Chainlink for RLUSD DeFi Expansion
Ripple’s enterprise stablecoin, RLUSD, just got a powerful ally in Chainlink as it pushes deeper into decentralised finance (DeFi). Chainlink’s oracle network—responsible for a whopping USD$18 trillion in transaction value across institutional markets—will provide price feeds for RLUSD-based trading, lending, and other financial services.
By integrating Chainlink, Ripple aims to offer “high-quality, tamper-resistant price data,” a critical requirement for large-scale DeFi adoption. Johann Eid, Chief Business Officer at Chainlink Labs, stated,
Having access to critical on-chain data will speed up the process of stablecoin adoption.
Ripple also emphasised RLUSD’s focus on compliance and interoperability, hoping that institutional players will feel more comfortable diving into DeFi with reliable price oracles on board.
📖 What we’ve been reading
2025 New Year’s resolutions for any crypto advocate
With every calendar flip comes fresh opportunities. Here are six resolutions every crypto enthusiast should consider for the coming year.
The Next Wave of Corporate Bitcoin Adoption Seems to Be on Its Way
Multiple public companies have announced a bitcoin strategy, but there has been no acquisition yet.
Arthur Hayes: Crypto Market Will Peak 'In Mid to Late March'
The BitMex co-founder believes a so-called "Trump dump" just took place during the back half of December.
Disclaimer: The information provided is for educational purposes and does not constitute financial product advice. You should obtain independent advice from an Australian financial services licensee before making any financial decisions.
