A Week of Action in the Crypto Market
Welcome to our exciting weekly recap in the dynamic world of cryptocurrencies! On Monday, February 10th, 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, February 14th, 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 | $97,433.11 | 0.55% | $97,968.08 |
| ETH | $2,644.88 | 3.78% | $2,744.92 |
| XRP | $2.42 | 15.53% | $2.79 |
| SOL | $203.01 | -0.38% | $202.23 |
| BNB | $605.42 | 10.41% | $668.43 |
| DOGE | $0.26 | 8.14% | $0.28 |
| ADA | $0.69 | 17.54% | $0.82 |
| AVAX | $25.33 | 5.37% | $26.69 |
| TON | $3.78 | 2.08% | $3.86 |
Bitcoin’s Permanent Holder Demand Propels Price to $116K
Bitcoin’s long-term holders have been steadily increasing their reserves despite a recent 10% drop from its $109,355 peak, signaling strong accumulation. On-chain data from CryptoQuant reveals a surge in “Permanent Holder Demand,” suggesting Bitcoin could soon break past $100K and potentially reach $116K
University of Austin Launches $5M Bitcoin Fund
The University of Austin has announced the launch of a $5 million exclusive Bitcoin fund as part of its $200 million endowment. With this initiative, it becomes the first university in the U.S. to invest in cryptocurrency. The fund aims for a long-term investment, intending to hold Bitcoin for at least five years. Chad Thevenot, the university’s senior vice president, stated that Bitcoin holds long-term value, similar to stocks or real estate.
Michigan Joins 20 States with Crypto Reserve Bill Proposal
Michigan is the latest US state to propose a strategic Bitcoin reserve bill, making it the 20th with pending crypto investment legislation. Introduced on Feb. 13 by Representatives Bryan Posthumus and Ron Robinson, HB 4087 seeks to amend the state’s Management and Budget Act to create a Bitcoin reserve at $96,520 per BTC. The bill allows the state treasurer to invest up to 10% of both the general and stabilization funds in crypto, and to lend crypto if no extra risk is taken. All holdings must be secured via custody solutions or ETFs.
Juventus Shares Surge After Tether Buys Stake
Shares of Juventus FC rose after Tether, the cryptocurrency firm, announced it had become a minority shareholder. The size of the stake was not disclosed. Tether’s investment is seen as strategic, aiming to merge technology with the sports industry. Despite the club’s financial struggles, the announcement led to a 4.7% rise in shares, closing up 1.57% at €2.531. Juventus, controlled by the Agnelli family, has faced financial difficulties but is looking to strengthen its position with this new partnership.
Coinbase CEO Predicts 10% of Global GDP on Crypto Rails by 2030
Coinbase CEO Brian Armstrong predicts that by 2030, up to 10% of the global GDP will run on crypto rails. Armstrong believes we are witnessing “the dawn of a new era for crypto” in the U.S., with the current pro-crypto Congress paving the way for global regulatory changes. If his prediction holds, over $10 trillion in value could be tokenized. Armstrong sees Coinbase as the key partner for companies adapting to this shift, as the firm reported a strong 88% quarter-on-quarter revenue increase for Q4 2024.
Sources
https://cointelegraph.com/news/bitcoin-booming-permanent-holder-demand-btc-price-116k
https://crypto.news/university-of-austin-bets-on-bitcoin-with-a-5m-long-term-investment-fund/
https://cointelegraph.com/news/michigan-becomes-latest-state-to-propose-crypto-reserve-bill
https://cointelegraph.com/news/coinbase-ceo-predicts-10-percent-global-gdp-crypto-rails-2030
