A Week of Action in the Crypto Market
Welcome to our exciting weekly recap in the dynamic world of cryptocurrencies! On Monday, January 27, 2025, at 9:00:05 AM EST (3:00:05 PM CET), we will analyze the prices of the top 10 cryptocurrencies according to Coin Market Cap and anticipate how the market could evolve throughout the week. On Friday, January 31, 2025, at 6:00:02 PM EST (12:00:02 PM CET), we will compare these prices with the closing values to identify market trends and fluctuations
| CRYPTO | INITIAL | % CHANGE | FINAL |
|---|---|---|---|
| BTC | $102,787.64 | -0.44% | $102,332.81 |
| ETH | $3,181.06 | 5.03% | $3,340.99 |
| XRP | $3.18 | -4.39% | $3.04 |
| SOL | $237.38 | -2.90% | $230.50 |
| BNB | $674.52 | 0.72% | $679.41 |
| DOGE | $0.33 | -1.20% | $0.33 |
| ADA | $0.96 | -1.56% | $0.95 |
| AVAX | $33.93 | 2.15% | $34.66 |
| TON | $4.90 | -0.31% | $4.88 |
Poland Overtakes El Salvador with 219 Bitcoin ATMs
Poland has surpassed El Salvador in the Bitcoin ATM race, now boasting 219 machines after adding 10 in just one day this January. Since October 2024, Poland has added 24 new ATMs, while El Salvador, which made Bitcoin legal tender in 2021, has remained stagnant at 215 since 2022. With this milestone, Poland ranks fifth globally in Bitcoin ATMs, trailing only the U.S., Canada, Australia, and Spain.
Bitfarms Sells Paraguay Facility to Hive for $85M, Shifts Focus to U.S.
Bitfarms is selling its 200 MW Bitcoin mining farm in Paraguay to Hive Digital for $85 million. The deal, announced on Jan. 28, allows Bitfarms to reinvest the proceeds into expanding its operations in the U.S., with a new focus on both Bitcoin mining and AI infrastructure.
Tangem Wallet Secures US Patent for Private Key Transfer Tech
Tangem, a self-custodial crypto wallet, has been granted a US patent for its private key backup technology. The patent, issued on January 28, covers a method that allows secure transfers of private keys between Tangem’s wallet hardware and devices like smartphones. This innovation aims to improve both the security and usability of self-custodial wallets, making private key backups and transfers safer for users.
El Salvador Modifies Bitcoin Law to Meet IMF Deal
El Salvador amended its Bitcoin law to comply with an IMF loan deal, making Bitcoin payments optional for businesses. The reform keeps Bitcoin as legal tender while reducing its mandatory use. The country continues to accumulate Bitcoin, with plans to buy more in 2025.
Tether Reports Record $13B Profit Ahead of Bitcoin Rollout
Tether, the world’s largest stablecoin issuer, announced a record $13 billion profit for 2024, more than doubling its 2023 earnings of $6.2 billion. The crypto giant now holds over $143 billion in reserve assets backing its USDT stablecoin. With these profits, Tether is now nearing the earnings of major Wall Street players, like Goldman Sachs, which reported $14.28 billion in profits this month.
Sources
https://cointelegraph.com/news/bitfarms-sells-paraguay-site-to-hive-for-us-expansion
https://cointelegraph.com/news/tangem-us-patent-private-key-backup
https://cointelegraph.com/news/el-salvador-rushes-new-bitcoin-laws-comply-imf-deal-reuters
https://decrypt.co/303882/tether-record-shattering-profits-bitcoin-usdt
