The altcoins are also in the green now on a daily scale, even though they plunged during the Monday morning Asian trading session.

BTC’s New Peak

The past seven days showcased what bitcoin and the crypto markets are capable of. Recall that the largest digital asset plunged beneath $90,000 for the first time since November last Monday after a massive daily drop of more than seven grand.

However, it reacted well to this crash and started to recover some value almost immediately. It kept climbing by the end of the trading week and saw its price cruise above $100,000 after the more favorable CPI data that came out on Wednesday.

Although all eyes were on Trump’s meme coin during the weekend, BTC maintained its position and even spiked to $106,000 on Sunday. That’s when real volatility transpired, as the cryptocurrency plummeted once again by several grand amounts to under $100,000.

As the market was preparing for another price slip ahead of Trump’s inauguration today, bitcoin reversed its trajectory and skyrocketed to over $109,000 to mark a new all-time high.

As of now, it stands at just over $108,000. Its market cap has soared to $2.140 trillion, while its dominance over the alts is at 55.4%.

LINK on the Move

Most altcoins went through similar volatility on Monday morning but have turned green on a daily scale. Ethereum has tapped $3,400 after a 5.5% surge since yesterday. ADA has jumped to $1.1 after a similar increase. XRP, BNB, DOGE, XLM, TRX, and AVAX are also in the green.

LINK has stolen the show today with a massive 15% surge. As a result, Chainlink’s token now sits above $26.

The two newest and most controversial meme coins – TRUMP and MELANIA – faced massive price volatility and is expected to continue as the day progresses.

The total crypto market cap has added over $100 billion since yesterday and is above $3.86 trillion on CG.

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According to Elliptic, Huione touts USDH as a solution for users seeking to bypass the restrictions imposed by traditional stablecoins like USDT and USD Coin (USDC). The asset was launched in September 2024.

Huione is the largest illicit online marketplace, with transactions exceeding $24 billion. In 2024 alone, it recorded nearly $10 billion in transactions.

USDH

Unlike Tether’s USDT and Circle’s USDC, USDH is not subject to freezing or transfer limitations enforced by issuers. This lack of regulatory oversight makes USDH particularly appealing to bad actors.

Notably, both Tether and Circle have previously taken action against wallets linked to illegal activities. For instance, Tether has frozen wallets associated with stolen funds from North Korea’s Lazarus Group, while Circle also has disabled wallets holding USDC from various crypto hacks.

While Huione continues to support USDT payments, it promotes USDH as a safer alternative. The stablecoin is available on Ethereum, BSC, Tron, and Huione’s proprietary Xone chain.

To broaden its offerings, Huione has introduced a crypto wallet and a decentralized exchange (DEX), and it previously attempted an initial coin offering (ICO) for its HC token. These initiatives aim to boost USDH’s accessibility.

Expansion efforts

Beyond USD, Huione is also diversifying its offerings despite mounting scrutiny. It recently introduced ChatMe, a messaging app designed to mimic Telegram.

ChatMe allows users to create group chats and bots, key tools for Huione’s marketplace operations. Integrated with the Huione Chain, the app supports payments and other blockchain-based features.

In addition, Huione unveiled its first dedicated crypto exchange, Huione Crypto, in September 2024. This platform enables users to trade USDH alongside cryptocurrencies like Bitcoin, ETH, TRX, Solana, and Dogecoin.

Based in Poland, the exchange targets European users and offers language support for the Chinese market.

Huione’s latest developments signal its intent to expand its influence in the crypto space, even as it faces ongoing scrutiny for its controversial activities.

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Most altcoins are also quite sluggish at the end of the year, with ETH losing the $3,400 mark and LINK continuing its recent downfall.

BTC Eyes $94K

The micro-scale at the end of the year is quite painful for BTC. The cryptocurrency stood above $108,000 two weeks ago, adding $40,000 since Trump’s landslide victory in the US presidential elections. However, the Fed’s hawkish words for 2025 reversed the asset’s trajectory, and it started losing value fast.

It dumped to $92,000 that Friday and tried to recover some ground in the following week. It managed to jump toward $100,000 on a couple of occasions but was stopped at each attempt and pushed south hard.

This retracement culminated yesterday as the bears initiated a notable leg down that resulted in BTC tapping a monthly low of $91,300 (on Bitstamp). As the fears of a potential breakdown beneath $90,000 went viral, the bulls managed to intervene and pushed the asset north of nearly $94,000 as of now.

Still, its market capitalization still struggles at $1.860 trillion, while its dominance over the alts has increased to 54.3% on CG.

PEPE on Recovery Road

Most larger-cap alts are slightly in the red now as well. ETH has slipped beneath $3,300, XRP struggles below $2.1, while DOGE, ADA, TRX, AVAX, and TON have lost around 1-2% value once again. Chainlink’s native token continues to lose value after another 3% drop in the past 24 hours. Similar declines are evident from SHIB, HBAR, and DOT.

CRO, TAO, and AAVE have declined even harder, while PEPE has defied the market sentiment with a 6% surge to $0.00002.

The total crypto market cap continues to bleed and is close to breaking below $3.4 trillion.

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The altcoins are also in the green following the market-wide crash, with many recovering by double-digit increases on a daily scale.

BTC Begins Recovery Mode

The business week began in a highly positive manner for the primary cryptocurrency, as its price surged from around $101,000 to over $108,000 by Tuesday to mark its latest all-time high. While the community was expected to rise toward $110,000, especially after Wednesday’s rate cut in the US, the landscape took a sharp turn.

Instead of heading further north, BTC actually started to retrace hard. It first lost the $100,000 mark, but that was just the start, as the bears kept the pressure on. The culmination came on Friday when the cryptocurrency plummeted to a three-week low of $92,000, and the conversation turned to whether this was a normal correction or the end of the bull market.

So far, though, it seems to be the former. Bitcoin stopped the freefall and bounced off rather impressively. Just earlier today, its price surged past $99,000 before calming to its current level of around $98,500.

Its market capitalization has recovered to $1.950 trillion, while its dominance over the alts stands at 54.6% on CG.

Altcoins Finally See Green

The alternative coins suffered even more than BTC during the market-wide crash, as expected. However, they have turned green now on a daily scale after the Friday massacre. ETH dumped to $3,300 but now sits close to $3,500 after a 6% daily increase. XRP is back above $2.3 after plummeting to under $2 on Friday.

BNB, SOL, TRX, and HBAR have gained around 5-6% each since yesterday. More impressive price increases come from the likes of DOGE, ADA, AVAX, LINK, SHIB, TON, DOT, and many others, all of which have jumped by double digits.

The total crypto market cap slumped below $3.4 trillion yesterday but has risen to over $3.550 trillion now.

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Bitcoin Rally To Continue Above $100,000

On Thursday, Bitcoin hit its latest all-time high (ATH) of $103,600 in an 8% daily jump. The largest cryptocurrency by market capitalization broke out of a one-month bullish pennant and smashed past the $100,000 barrier for the first time in history.

After the impressive surge, BTC retraced to the $98,000 mark before briefly plummeting to the $90,000 support zone. This 13% correction marks the largest drip for the flagship cryptocurrency since the post-election rally started a month ago and triggered around $1 billion in liquidations, its largest since August.

Nonetheless, Bitcoin quickly recovered the $97,000-$98,000 price range, followed by a retest of the previous ATH levels around $99,000 on Friday morning. Renowned crypto analyst Ali Martinez noted that BTC’s rally seemingly depends on a key support level.

Martinez revealed the most significant support zone for Bitcoin was the $96,870 mark, where over 1.45 million addresses bought 1.42 million BTC. The analyst explained, “As long as this demand zone holds, there is a good probability that BTC will continue marching higher.”

Moreover, he highlighted that the local Bitcoin top is not in yet, as these are “usually reached around the Short-Term Holder Cost Basis +1 standard deviation.” Per the analyst’s chart, this level stood at $112,926 at the time of the report, suggesting that BTC could jump another 13% before seeing the first major retrace.

Will BTC Repeat Its 2017 Move?

Crypto analyst Jelle pointed out that Bitcoin is still “following the Q4 2023 fractal closely” despite the dip. He suggested that now that the flagship crypto “took out the liquidity on both sides,” it would start pushing back to the $100,000 milestone.

Jelle suggested that BTC would range until Christmas, when he forecasts the “true breakout” will happen if it continues following last year’s steps. Additionally, he noted that yesterday’s $100,000 candle resembles BTC’s candle when it first surpassed the $10,000 mark.

In November 2017, Bitcoin rallied to $10,000 for the first time, hitting the $11,000 range before plummeting to $8,500. The following day, the largest crypto saw its price recover from the correction and retest the $10,000 barrier, finally turning it into support on the third day.

After that, Bitcoin rallied around 90% in the next few weeks to the $19,000 2017 ATH. Based on this, the analyst suggests that the recent price volatility is “totally normal” and will push higher soon if it repeats history.

After the recovery, BTC successfully retested the bullish pennant, setting the stage for a six-figure price “once and for all,” Jelle stated, with the liftoff targeting the $130,000 level.

As of this writing, the flagship crypto trades at $101,050, a 4.7% increase on the weekly timeframe.

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Ethereum Reclaims $3,900

Ethereum, the second-largest cryptocurrency by market capitalization, has recorded a 10% surge in the past week, moving from the $3,500 mark to the $3,900 resistance. On Wednesday, the King of Altcoins surpassed the $3,800 level for the first time in six months and continued climbing to retest the $3,900 resistance, not seen since early March.

In the early hours of Thursday, ETH turned this key zone into support, briefly dipping to $3,860 before jumping back to the recently reclaimed level. As the cryptocurrency nears its yearly high of $4,093, sentiment around the token’s short-term performance has turned extremely bullish.

Ethereum is retesting a massive multi-year resistance zone, which could send ETH to a new ATH. According to analyst Alex Clay, the cryptocurrency attempts to break “through the Key Resistance Zone on the weekly timeframe.”

ETH has rested the key zone five times since 2021, facing rejection from the upper resistance at $3,950 on four occasions before. However, Ethereum broke past this level in late 2021, when it hit its all-time high (ATH) and held above it for nearly three months.

The analyst noted that if the King of Altcoins successfully breaks above this level and turns it into support, it will be the next “to break through” and smash its ATH. Clay added that he sees “no major pullback in the near time.”

Similarly, crypto analyst Jelle stated that if Ethereum breaks above the March high, “all bets are off,” suggesting that the chances of ETH taking a long consolidation period before a new ATH like BTC did were “very low.”

ETH To Rally Toward $10,000?

Jelle also noted that Ethereum’s current setup mimicked Bitcoin’s in July 2020. Per the chart, Bitcoin broke through a multi-year downtrend line by mid-2020, followed by a massive 500% 10-month rally toward the $60,000 mark in April 2021.

The analyst noted that ETH breached the multi-year trendline today, like BTC in 2020, which could trigger a similar rally toward new highs in the next few months. He added that investors are “in for a treat if this plays out anything similar.”

In another post, he highlighted that Ethereum started rallying when Bitcoin broke its ATH and entered price discovery when BTC traded nearly 100% above its previous cycle high.

He considers that it would be surprising to “see things play out similarly this time around. BTC & ETH climbing in tandem, leading to ETH entering price discovery somewhere around ±$130,000.”

Based on this, the analyst believes that a 150-200% rally toward the $10,000-$12,000 price range for the cryptocurrency is possible for this cycle. As of this writing, ETH is trading at $3,905, a 2.4% increase in the daily timeframe.

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This figure marked a new all-time high for the network, demonstrating growing appeal among decentralized finance (DeFi) users. The achievement reflects the increasing adoption of Tron’s infrastructure for DeFi applications, stablecoin transactions, and smart contract functionality.

New Peak For TRX

The latest development comes as Tron’s TRX token achieved a record-high price of $0.44 this week, breaking a seven-year streak and marking a major milestone for the network. Although it has since pulled back to $0.33, the token still stood at weekly gains of 66% as it finally reclaimed the 10th spot by market cap.

Several factors are driving this rally, including speculation about TRX’s potential inclusion in Grayscale’s portfolio of investment assets. Grayscale previously announced TRX as one of 35 tokens being evaluated, with quarterly updates expected, fueling optimism for institutional support.

Beyond this, Tron founder Justin Sun has also played a pivotal role in amplifying interest. Sun recently spent $30 million on WLFI tokens associated with Donald Trump’s initiative called ‘World Liberty Financial’ and even took on an advisory position. Moreover, his involvement with the conceptual artwork “Comedian” has spurred community engagement, with ripple effects boosting activity for related tokens like BAN.

Stablecoin Ecosystem on Tron Network

Meanwhile, Messari’s recent report revealed that the stablecoin market cap on Tron has seen a consistent upward trajectory over the past year, with Q3 maintaining that momentum. During the quarter, the market cap increased by 3% quarter-over-quarter, rising from $58.02 billion to $59.97 billion. This figure currently stands at a little over $60 billion, as per DeFiLlama.

USDT continued to dominate the stablecoin landscape on Tron, holding a steady 98% market share. Other stablecoins also showed growth in Q3. USDD, the second-largest stablecoin on Tron, increased marginally by 0.11% quarter-over-quarter, from $729.9 million to $730.6 million.

Notably, TUSD experienced the largest growth percentage-wise, surging by 87% quarter-over-quarter, from $89.1 million to $166.6 million. USDJ rounded out the top four, rising 4% during the same period, and concluded Q3 with $70.7 million.

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Tron Hits New ATH After 7 Years

As Bitcoin (BTC) continues moving sideways between the $94,000-$96,00 price range, many altcoins have started recording massive rallies. Cardano (ADA) recently reclaimed the $1 mark in a 200% rally, while XRP soared above the $2.5 resistance on a 300% surge.

Yesterday, TRX, the native token of the Tron Blockchain, soared 104% intraday to hit its news ATH in nearly seven years. The token moved from its daily low of $0.22 to the $0.29 mark, surpassing its previous high of $0.23.

The rally continued with another jump above the $0.30 barrier before climbing to its latest ATH of $0.45 on Tuesday night. The surge saw the cryptocurrency flip some crypto rivals, sending Tron back into the top ten crypto list.

According to CoinMarketCap data, TRX’s market capitalization hit over $36 billion, surpassing Toncoin (TON) and Avalanche (AVAX) by this metric. Tron founder Justin Sun highlighted the feat in an X post:

6 years later. Still here. Still #BUIDLing. Things have changed, but one thing hasn’t: #TRON remains a top 10 contender.

Since then, Tron has retraced around 20%, hovering above the $0.35-$0.36 zone before falling to the $0.33 mark. Despite the retrace, TRX remained the leading cryptocurrency, with 20% gains in the last 24 hours.

TRX’s Rally To Continue?

As TRX’s price surged, crypto analyst Javon Mar stated that Tron was “HEAVILY on what can be soon noted as a historical bullish move.” He also suggested that the cryptocurrency’s price was “far from done,” forecasting another massive rally to the $1.1 area.

Similarly, another analyst noted that TRX has “finally triggered a MEGA setup from all the way back in 2018 on its dominance chart” against all other Altcoins. And added that Tron has “barely put its running shoes on.”

The analyst also signaled that a test of the previous ATH was possible as a retest of that level as support could propel the token to $0.50. However, Team LAMBO advised to watch out for the $0.33 level.

The analyst stated that Tron was possibly “cooking a massive bull flag on the 15-minute timeframe,” with the bottom trendline between the $0.35-$0.36 price range. A breakout above $0.42 could target the $0.60 barrier while breaking down the pattern and losing the $0.33 support would invalidate it.

As of this writing, TRX is trading at $0.33, a nearly 80% surge in the past seven days and a 116% monthly jump.

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Key Highlights from Binance Blockchain Week

Justin Sun, founder of TRON, recently joined a Binance Live Session, “Binance Blockchain Week Dubai 2024: The Road to Dubai”, to discuss TRON’s latest advancements. He highlighted TRON’s protocol revenue reaching all-time high, a gas-free stablecoin solution, the development of a BTC L2 on the TRON network, and the new T3 Financial Crime Unit, an initiative launched in collaboration with Tether and TRM Labs.

Sam Elfarra, represented TRON DAO as a Community Spokesperson in a panel discussion titled “Building the Backbone of Digital Payments & Stablecoins.” The panel explored blockchain’s transformative role in digital finance and highlighted how platforms such as TRON support stablecoin activity while contributing to the digital payment infrastructure globally.

“Blockchain technology is essential in emerging markets. With the TRON network hosting 35% of the global stablecoin market, TRON provides valuable digital infrastructure worldwide, empowering consumers, businesses, and developers through stablecoins,” said Sam Elfarra, Community Spokesperson for TRON DAO.

The conference concluded with TRON DAO and Binance co-sponsoring the Official BBW After Party during Halloween. The exclusive gathering consisted of TradFi professionals , developers, and various industry leaders. Attendees shared insights and engaged in forward-thinking discussions focused on advancing blockchain technology; exploring its potential to reshape industries, drive transformative solutions, and foster a more connected future.

About TRON DAO

TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.

Founded in September 2017 by Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the integration of BitTorrent, a pioneer in decentralized Web3 services, boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of October 2024, it has over 268 million total user accounts on the blockchain, more than 8.8 billion total transactions, and over $15 billion in total value locked (TVL), as reported on TRONSCAN.

In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO . Most recently in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which marks the first time a major public blockchain partnered with a sovereign nation to develop its national blockchain infrastructure. On top of the government’s endorsement to issue Dominica Coin (“DMC”), a blockchain-based fan token to help promote Dominica’s global fanfare, seven existing TRON-based tokens – TRX, BTT, NFT, JST, USDD, USDT, TUSD, have been granted statutory status as authorized digital currency and medium of exchange in the country.

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Media Contact

Yeweon Park
press@tron.network

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