Daily News | BTC Re-Stands Above $93,000, ADA Increased by More than 70% to Become the 8th Largest Cryptocurrency

Crypto Daily Digest: Trump announced the establishment of US crypto reserves, XRP fully diluted valuation exceeded ETH

According to Farside Investors data, the US Bitcoin spot ETF had a net inflow of $94 million last Friday, of which BlackRock had an outflow of $244 million and Fidelity FBTC had an inflow of $176 million. Last week, the BTC ETF had a significant net inflow only on Friday, and there were large net outflows on the other four days. The total weekly net outflow was $2.3907 billion, with a total reduction of 26,242.77 BTC.

Yesterday, Ethereum spot ETFs saw outflows of $41.9 million, of which BlackRock ETHA saw outflows of $30 million and Grayscale ETHE saw outflows of $11.7 million.

Trump announced the establishment of US crypto reserves, with BTC and ETH as the core of the reserves

Recently, US President Trump announced the establishment of the US crypto reserve. Trump said he would instruct the presidential working group to advance the strategic reserve of cryptocurrencies including XRP, SOL and ADA. Ensure that the United States becomes the world’s crypto capital. In addition, BTC and ETH and other valuable cryptocurrencies will become the core of the reserve.

XRP’s fully diluted valuation exceeds ETH for the first time, now at $283.5 billion

Market data shows that XRP FDV (fully diluted valuation) once exceeded ETH during the trading session, and was then overtaken by ETH again. XRP FDV is now reported at $283.5 billion, only about $10 billion behind ETH’s $296.8 billion.

The total market cap of the crypto market rebounded by 9% and returned to $3 trillion

Stimulated by the news of the US crypto reserves, Coingecko data showed that the total market cap of cryptocurrencies returned to $3 trillion to $3.254 trillion, an increase of more than 9% in the past day.

Market Trends: ADA rose by more than 70% to become the 8th largest cryptocurrency, BTC’s counterattack potential still needs to be watched

Market Hotspots

According to CoinGecko data, after Trump announced the latest developments in the US crypto reserves, Cardano (ADA) has risen by 73%, reaching a high of $1.148. It is now quoted at $1.136, becoming the 8th largest cryptocurrency by market cap ($39.8 billion);

The PayFi sector performed actively, rising by more than 22.96%. Popular currencies XRP and COTI rose by more than 20%. XRP’s return rate so far this year has exceeded 340%.

Mainstream Coins

BTC counterattacked and re-stood at $93,000, with a daily increase of 6.42%, and then fluctuated between $92,000 and $93,000. At present, $93,000 is the short-term resistance level of BTC. Judging from the trend pattern, the downward trend has not been fundamentally reversed, and we still need to be cautious about the subsequent trend;

ETH broke through $2,500, with a daily increase of more than 10%. On the news front, the ancient Ethereum whale who previously recharged 1,024 ETH to Kraken has cleared his position, with a total profit of more than $80 million. Like BTC, ETH’s trend has not changed, and investors still need to be vigilant about the trend;

Altcoins followed the general rise of the market, with PayFi and DeFi sectors both rising by more than 10%.

Macro News: The inflation indicator favored by the Fed is consistent with expectations. Last week, only the Dow Jones Industrial Average rose among the three major U.S. stock indexes

Last Friday, the three major U.S. stock indexes all closed higher. The Dow Jones Industrial Average rose 601.41 points from the previous trading day to close at 43,840.91 points, an increase of 1.39%; the S&P 500 rose 92.93 points to close at 5,954.5 points, an increase of 1.59%; the Nasdaq Composite Index rose 302.86 points to close at 18,847.28 points, an increase of 1.63%. However, from the perspective of the full week’s performance, only the Dow Jones Industrial Average rose 0.95% last week, the Nasdaq fell 3.47%, and the S&P 500 fell 0.98%.

The latest personal income and expenditure report released by the U.S. Bureau of Economic Analysis shows that the growth rate of the inflation indicator favored by the Federal Reserve is in line with expectations. Specific data show that the U.S. personal consumption expenditure (PCE) price index in January 2025 rose by 0.3% month-on-month and 2.5% year-on-year, both in line with expectations. The increase in December last year was 0.3% and 2.6%. Robert Ruggirello, chief investment officer of Brave Eagle Wealth Management, said: “Although additional rate cuts may be several months away, we believe that this report will help the Federal Reserve maintain one or two rate cuts in 2025.”