As we approach the inauguration of President Donald Trump on Monday, the excitement in the crypto world is palpable. A new president brings the potential for change, especially with a pro-crypto administration. However, the market is feeling a bit shaky. Ethereum (ETH) and Bitcoin (BTC) took a dive this week, while XRP made new highs. Let’s take a look at the key events shaping the week.
1) Trump Inauguration: A Pro-Crypto President on the Horizon
With Donald Trump set to be inaugurated as president, crypto holders are feeling hopeful about the future. A pro-crypto president could mean more favorable regulations and greater institutional adoption of digital assets. Trump’s policies during his previous administration were seen as business-friendly, and many in the crypto community hope that his return to office will encourage similar policies.
Trump’s stance on crypto could be pivotal in shaping the next chapter of the industry. His leadership could help drive innovation, create more regulatory clarity, and open up new opportunities for crypto projects. As we approach the inauguration, crypto enthusiasts are watching closely, hoping for a market boost as Trump takes office.
2) Airdrop Checkers: New Tools for Claiming Airdrops
This week, two airdrop checkers went live, and they could be game-changers for those looking to claim free tokens.
First, Jupiter’s season 2 airdrop checker is now available. This tool allows users to verify their eligibility for the upcoming Jupiter airdrop, making it easier to track rewards. if you were active the past year on Solana, especially with meme coins, go ahead and check if you are eligible. You might have some free $JUP waiting for you.
Additionally, PAWS, another project, launched its airdrop checker. As the project gains traction, early supporters can use the tool to check their eligibility for tokens. Head over to the Telegram bot to check your airdrop allocation.
Lastly, Nodepay is gearing up for its Token Generation Event (TGE) and airdrop, which is set to go live soon. Even tho they blatantly rugged us of millions of points, we do hope you get a nice airdrop as we love DePin projects.
3) Indonesia’s Crypto Market Surges: A Possible Altcoin Bull Run?
Indonesia is emerging as a major player in the global crypto market, with the country’s crypto market surging 200% year-on-year. According to the Chainalysis Global Crypto Adoption Index, Indonesia ranks third in global crypto adoption, with a remarkable crypto inflow of $157 billion between 2023 and 2024.
This growth is driven by Indonesia’s progressive crypto policies and its tech-savvy, young population. The government’s decision to reclassify cryptocurrencies as digital financial assets has helped increase trust in the sector. Moreover, the Indonesian Financial Services Authority (OJK) has taken over the regulation of crypto, ensuring greater transparency and protection for investors.
Indonesia’s decentralized exchanges (DEXs) are also gaining traction, with transactions on these platforms accounting for 43.6% of crypto transfers—well above the global average. This shift has positioned Indonesia as a fertile ground for Web3 innovations, and the country’s eCommerce sector, worth $80 billion, has seen cryptocurrencies integrated into daily transactions. This surge in crypto adoption in Indonesia could be the catalyst for a potential altcoin bull run in the coming months.
4) Is Yuga Labs Selling CryptoPunks?
There’s been a lot of buzz on Twitter this week, with rumors circulating that Yuga Labs might be considering selling CryptoPunks. Gordon, one of Yuga’s co-founders, even joked about it, fueling speculation. However, Yuga’s CEO, Garga, has denied these rumors, assuring the community that they are not planning to sell CryptoPunks.
Despite Garga’s denial, the rumors caused a significant price movement in the CryptoPunks market. The floor price of CryptoPunks jumped from 36 ETH to 41 ETH as a result of the speculation. This price increase reflects the power of rumors in the NFT market, where news—whether true or not—can lead to rapid price changes.
5) Stake $HYPE for $ANIME: A New Partnership in the Crypto Space
In the world of airdrop rewards, Hyperliquid and Animecoin have teamed up for an exciting partnership. If you hold $HYPE tokens, you can stake them to receive $ANIME tokens as part of an upcoming airdrop. The partnership is expected to bring new rewards to stakers, and the airdrop is set to take place in January.
This collaboration between Hyperliquid and Animecoin is just one example of how crypto projects are increasingly using staking rewards to incentivize users and build community engagement. Staking has become a key strategy for many projects to increase adoption and reward loyal supporters.
Earlier this week, we wrote an extensive guide on optimizing your collector score for a bigger $ANIME airdrop, check it out here.
6) Meta Urged to Consider Bitcoin as a Treasury Asset
In a bold move, Meta has been urged to consider adding Bitcoin to its balance sheet. The proposal, backed by the National Center and supported by MicroStrategy’s Michael Saylor, suggests that Meta adopt Bitcoin as a hedge against inflation and economic instability. Similar proposals have been submitted to other major companies like Microsoft and Amazon.
The idea behind the proposal is that Bitcoin’s fixed supply and inflation-resistant qualities make it an attractive asset for corporate treasuries. By diversifying their balance sheets with Bitcoin, companies can better protect themselves from the risks of currency debasement and economic uncertainty. This growing trend of Bitcoin adoption by corporations could signal a broader shift in how businesses approach their financial strategies.
Meta, known for its forward-thinking approach to technology, could lead the way in corporate Bitcoin adoption, setting a precedent for other major firms to follow. If the company considers this proposal, it could be a significant step in the growing acceptance of Bitcoin as a mainstream asset.
7) SEC Sues Elon Musk Over Twitter Stake Disclosure
A few days before Trump’s inauguration, the SEC filed a lawsuit against Elon Musk for failing to disclose his 5% stake in Twitter within the required 10-day window. The SEC alleges that Musk’s late disclosure allowed him to buy Twitter shares at artificially low prices, causing harm to investors.
Musk has faced multiple legal challenges with the SEC, including previous issues related to his posts about taking Tesla private. However, Musk’s legal team argues that the delay in disclosure was a minor administrative error that did not cause any harm to investors. This lawsuit is one of many ongoing legal battles involving Musk, especially in the wake of his $44 billion acquisition of Twitter, which he later rebranded as X.
Interestingly, the SEC’s lawsuit comes just days before Trump’s inauguration, which could signal a shift in regulatory actions. With Gary Gensler stepping down as SEC chair and Paul Atkins taking over, many in the crypto community are hopeful for more favorable policies towards the industry under the new administration.
Final Thoughts
This week’s crypto news has been filled with major developments, from the excitement surrounding Trump’s inauguration to the ongoing legal battles faced by Elon Musk. The surge in Indonesia’s crypto market and the rise of new airdrop checkers show that the industry is evolving quickly, despite the market’s volatility. As Meta and other corporations explore Bitcoin adoption, the future of crypto looks bright, and the pro-crypto stance of the upcoming administration could provide the push the industry needs.
Stay tuned as we continue to cover the latest updates in the world of crypto, and get ready for the exciting opportunities ahead!
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