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

The crypto market last week saw Bitcoin recover slightly by 5%, leading to good growth in many altcoins. The memecoin sector was particularly active as Elon Musk openly "shilled" the memecoin Kekius Maxius.

The Week Of Memecoins And Elon Musk

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.

Chart Btc

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 Highest Gains Last Week
Top 10 Coins with the Highest Gains Last Week

Top 10 Coins with the Biggest Losses Last Week

Top 10 Coins with the Biggest Losses Last Week
Top 10 Coins with the Biggest Losses Last Week

Key Highlights

2. Crypto Market Outlook: This Week

Token Unlock Schedule

Token unlock (tokenomist)
Token unlock (tokenomist)

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.

5.0/5

(1 vote)

Latest

Azcnews Breaking Zklend Loses $4.9m In Starknet Exploit

News | Editor Choice | Policy & Regulations

zkLend Loses $4.9M in Starknet Exploit, Offers Hacker 10% Bounty for Return of Funds

Decentralized lending protocol zkLend has fallen victim to a $4.9 million exploit on the Starknet network, marking a resurgence in crypto-related hacks after a decline in January.

Azcnews Breaking Us And Uk Refuse To Sign International Agreement On Ethical Ai

News | AI | Editor Choice

US and UK Refuse to Sign International Agreement on Ethical AI

The US and UK declined to sign an international AI agreement, citing concerns over excessive regulation, while the summit emphasized ethical AI development, innovation, and global cooperation.

Azcnews Breaking Bitcoin’s Price Fluctuation And The Role Of Otc Transactio

News | Bitcoin | Editor Choice

Bitcoin’s Price Fluctuation and the Role of OTC Transactions

Bitcoin briefly dropped to $94,900 last night before recovering slightly. While market sentiment and institutional strategies often dominate discussions on Bitcoin’s volatility, the impact of over-the-counter (OTC) transactions remains an overlooked but crucial factor.

Azcnews Breaking Bnb Chain’s Four.meme Suffers $183k Exploit In Security Breach

News | Editor Choice | Memecoin

BNB Chain’s Four.Meme Suffers $183K Exploit in Security Breach

The memecoin launch platform has temporarily suspended the creation of new liquidity pools as it works to resolve a recent exploit.

Azcnews Breaking Litecoin Etf Has A 90% Chance Of Sec Approval

News | Altcoin | Editor Choice | Policy & Regulations

Litecoin ETF Has a 90% Chance of SEC Approval

Bloomberg ETF analysts suggest that Litecoin's regulatory filings have been acknowledged, indicating that the SEC likely classifies it as a commodity.