7th January 2025 – (New York) The cryptocurrency market witnessed a remarkable uptick on Monday, with valuations rising by $11 billion to an 18-day high of $3.47 trillion. Bitcoin surged past the $102,480 mark, poised for its seventh consecutive day of gains. While Ethereum lagged behind, AI-related altcoins such as Render (RNDR), Fetch.ai (FET), and Injective (INJ) enjoyed double-digit increases.
Bitcoin’s impressive start to 2025 continued, with prices reaching $102,480 as fresh investments flowed in following the reopening of global corporate markets after the holiday season. Microstrategy announced a substantial purchase of $101 million in Bitcoin, while the CEO of Japanese digital asset management firm MetaPlanet, Simon Gerovich, revealed intentions to expand holdings to 10,000 BTC this year.
In the altcoin arena, Injective (INJ) emerged as a standout performer, climbing over 12% to surpass $25 for the first time this year, spurred by speculation around upcoming token burn auctions on its layer-1 blockchain. Filecoin (FIL) also gained traction, rising 5% to cross $6, driven by its new listing on Bithumb, South Korea’s second-largest crypto exchange.
The Crypto AI sector is showing strong potential, with its market cap exceeding $54.6 billion, reflecting a 3% increase within 24 hours. This growth is linked to the success of AI technologies, including OpenAI’s ChatGPT and advancements by chipmaker NVIDIA. Established projects like Render, Fetch.ai, and NEAR Protocol are leading the charge, posting impressive weekly gains of 24.2%, 7.2%, and 12.5%, respectively.
In regulatory news, Gemini Trust Co. has settled a $5 million lawsuit with the Commodity Futures Trading Commission (CFTC) over misleading statements made in 2017 regarding Bitcoin futures. Meanwhile, U.S. Federal Reserve Vice Chair Michael Barr announced his resignation, citing the need for stablecoin regulation.
Ripple Labs CEO Brad Garlinghouse highlighted a surge in U.S. hiring and business deals, attributing this to the anticipated crypto-friendly policies of the incoming Trump administration. This optimism has coincided with a staggering 300% increase in XRP prices since the election, further energising the crypto market as 2025 unfolds.
