KEYTAKEAWAYS
- Bitcoin reached a new milestone by surpassing $105,000, while the ETH/BTC ratio hit its lowest point since 2021 at 0.03155, showing Bitcoin's dominance.
- Thailand is embracing crypto adoption, planning to trial Bitcoin payments in Phuket by 2025, requiring tourists to register through Thai exchanges first.
- Cryptocurrency exchanges are seeing significant market share growth, with Bitget, Coinbase, and Crypto.com leading the way in both spot and derivatives markets.
CONTENT
Welcome to the CoinRank Crypto Digest. In the new year, CoinRank will continue to provide daily important crypto news in this column series, allowing readers to quickly obtain the latest crucial updates from the cryptocurrency market.
MORNING NEWS
1. Thailand to Launch Crypto Payments in Phuket by 2025
According to Nation Thailand, Thailand plans to trial cryptocurrency payments in Phuket tourist destination, with Deputy Prime Minister and Finance Minister Pichai Chunhavajira announcing the initiative on Jan. 8 at a Marketing Association of Thailand seminar. The pilot program will operate within existing legal frameworks, requiring foreign visitors to register Bitcoin through Thai exchanges and verify identities before making purchases. The clearinghouse will convert BTC transactions into Thai baht, with the program aimed at making digital transactions more accessible in tourism-focused cities. This follows former PM Thaksin Shinawatra’s December 2024 push for crypto studies, while Binance Thailand CEO noted the country’s SEC is moving to expand digital asset investment scope.
2. Bitcoin Briefly Surpasses $105,000 Earlier Today
In accordance with @CoinGapeMedia, Bitcoin has surged past the $105,000 mark, marking a significant milestone in the cryptocurrency market. This development is part of a broader crypto rally that has captured the attention of investors and enthusiasts alike. The rise in Bitcoin’s value underscores the ongoing interest and investment in blockchain technology and digital currencies. The event took place on January 18, 2025, and highlights the dynamic nature of the cryptocurrency market.
3. DCG Fined $38 Million for Genesis Lending Fraud
According to market reports, Digital Currency Group (DCG) has been charged by the U.S. Securities and Exchange Commission (SEC) and fined $38 million due to the lending fraud activities of its subsidiary Genesis.
It is reported that Genesis is a cryptocurrency lending platform under DCG and was once one of the largest institutional lending service providers in the crypto industry. In November 2022, the collapse of the cryptocurrency exchange FTX exacerbated market turmoil, leading Genesis to suspend customer withdrawals during this period and file for bankruptcy protection in January 2023, with asset and liability valuations between $1 billion and $10 billion. According to the SEC investigation, Genesis and DCG are accused of concealing financial losses through false statements, involving over 230,000 investors and totaling more than $1 billion.
4. USDC Treasury Mints 250 Million USDC on Solana Chain
According to BlockBeats, on January 18, on-chain data revealed that 33 minutes prior, stablecoin issuer Circle minted 250 million USDC on the Solana blockchain.
5. Crypto Wallet Phantom Raises $150M Series C at $3B Valuation, Co-Led by Sequoia Capital and Paradigm
Phantom, a leading crypto wallet provider, has raised $150 million in a Series C funding round, achieving a $3 billion valuation. The round was led by Sequoia Capital and Paradigm, with support from Andreessen Horowitz and Variant. CEO Brandon Millman highlighted the company’s mission to make crypto accessible and safe, noting that the funds will support new features like social discovery and simpler peer-to-peer payments.
Phantom, with 15 million active users, saw significant growth, handling over $20 billion in annual swaps. Its revenue surged in late 2024, outpacing competitors Coinbase Wallet and MetaMask. Phantom aims to revolutionize consumer finance with this latest boost.
NOON NEWS
1. Trump Meme Coin TRUMP Market Value Exceeds $5 Billion
According to GMGN data, the market value of “Trump Meme Coin” TRUMP briefly exceeded US$5 billion, with a trading volume of approximately US$832 million.
2. Solana Chain Meme Coin X Market Cap Exceeds $15M, Up Over 30% in 24 Hours
According to data, Solana Chain Meme Coin X Market Cap Exceeds $15M, Up Over 30% in 24 Hours
3. Web3 Gaming Company Hive Labs Completes $2.75M Pre-seed Funding Led by Framework Ventures
According to data, web3 Gaming Company Hive Labs Completes $2.75M Pre-seed Funding Led by Framework Ventures
4. Avalon Labs Launches USDa and sUSDa Berachain Vault, First Day TVL Exceeds $50M
According to data, Avalon Labs Launches USDa and sUSDa Berachain Vault, First Day TVL Exceeds $50M
5. Decentralized Protocol ApeX Protocol Announces Upcoming Airdrop of 25,000,000 APEX Tokens
According to official sources, ApeX protocol will launch a new round of token airdrop plan for its Omni users, with a total of 25 million $APEX tokens.
EVENING NEWS
1. TRUMP Token Market Cap Ranks 4th Among Meme Coins, Behind Only DOGE, SHIB, and PEPE
According to CoinGecko data, as the “Trump Official Meme Coin” TRUMP reaches a historic high market cap of 4.8 billion dollars, its market cap ranks fourth among meme coins, with the top three being DOGE (market cap 58.7 billion dollars), SHIB (market cap 13.3 billion dollars), and PEPE (market cap 7.8 billion dollars).
2. ETH/BTC Rate Hits Lowest Point Since April 2021, Touching 0.03155
According to data, the ETH/BTC exchange rate fell to 0.03155, currently reported at 0.03165. This marks a 24-hour decline of 5.3%, reaching its lowest level since April 2021
3. Bitget, Coinbase, and Crypto.com Lead in Market Share Growth for 2024
Bitget, Coinbase, and Crypto.com captured the top spots for growth in total market share among spot and derivatives markets, according to a recent CCData report. The report reveals significant growth for these three platforms in 2024. Bitget’s market share increased by an impressive 4.05%, while Coinbase and Crypto.com saw growth of 3.89% and 3.39%, respectively.
4. Tether Considers Expanding U.S. Operations
Tether, the world’s largest stablecoin issuer, is contemplating expanding its operations in the United States following the election of pro-cryptocurrency President Trump and the company’s substantial profits in 2024. On Thursday, Tether CEO Paolo Ardoino stated in an interview, “I do not rule out further expansion into the U.S. market, but we remain cautious… Currently, we need regulatory clarity and guidance. We need to see what U.S. laws look like before making a decision.”
5. Circle Mints Additional 250 Million USDC on Solana Chain
According to BlockBeats, on January 18, on-chain data revealed that 33 minutes prior, stablecoin issuer Circle minted 250 million USDC on the Solana blockchain.
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