Crypto Weekly (30/12 - 05/01): The Week of Memecoins and Elon Musk

Table of Contents

1. Crypto Market Overview: Last Week

The crypto market witnessed notable fluctuations over the past week. Bitcoin (BTC) experienced a mild recovery, climbing from $91,470 to $98,950, representing a growth of over 5%. This recovery was largely anticipated as it coincided with the post-Christmas and New Year period, along with the upcoming inauguration of Donald Trump, which provided an additional positive sentiment to the market.

BTC’s rebound triggered significant gains in many altcoins, particularly driving a surge in the memecoin segment on decentralized exchanges (DEX). Last week, the crypto community was abuzz when billionaire Elon Musk changed his name and profile picture on platform X to “Kekius Maxius.” This action caused a memecoin of the same name to skyrocket in value by hundreds of times. Furthermore, related coins such as “Trumpius Maxius” and “Dogius Maxius” were created and also achieved impressive growth.

Top 10 Coins with the Highest Gains Last Week

Top 10 Coins with the Biggest Losses Last Week

Key Highlights

2. Crypto Market Outlook: This Week

Token Unlock Schedule

The market will face a series of significant token unlock events this week, with a total value of $242.68 million from various major projects. Specifically:

$APT (2.03%): $105.07 million
$MOVE (2.22%): $44.78 million
$KAS (0.72%): $22.32 million
$NEON (44.92%): $19.79 million
$ENA (0.42%): $13.51 million
$IO (2.50%): $11.10 million
$OP (0.33%): $8.41 million

Macroeconomic News

Several important events scheduled for the end of this week may impact the global financial markets:

Thursday (January 9, 2025): At 1:30 PM (UTC), Unemployment Claims data will be released. If the actual figures exceed expectations, it may be negative for the USD, and vice versa.
Friday (January 10, 2025): At 1:30 PM (UTC), the Nonfarm Payrolls data for December will be announced. This data measures changes in the number of employed individuals (excluding the agricultural sector) during the previous month. Higher-than-expected figures are considered positive for the USD, and vice versa.