This is a very short and simple update on what we have seen this week in the cryptocurrency market. Keeping up to date with the latest market developments is essential for making better decisions. Let’s analyze the market. Ready? Dive!
US Market Weekly Update
The American Standard and Poor’s 500 index fell 0.88% last week. The global market showed mixed performance. Europe grew by 0.67%, Japan by 1.91%, India by 0.85% and Australia by 0.16%. At the same time, similar to the US market scenario, China fell by 5.48% and South Africa by 0.34%.
This week, the United States witnessed several crucial clue releases. In November, year-over-year U.S. pending home sales jumped from 5.4% to 6.9%. In December, the US Chicago PMI rose from 40.2 points to 36.9 points. The Dallas Fed’s US manufacturing index increased in December from -2.7 points to 3.4 points. The U.S. S&P/Case Shiller Home Price YoY Index fell to 4.2% from 4.6%, but performed slightly better than expectations of 4.1%.
During the last week of December, the US 30-year MBA mortgage rate increased from 6.75% to 6.97%. Initial jobless claims in the United States fell from 219,000 to 211,000 during the same period. The final S&P global manufacturing PMI fell to 49.4 in December from 49.7 the previous month. The US ISM manufacturing PMI rose to 49.3 points in December from 48.4 points the previous month.
This week, the dollar showed strength against almost all major currencies, including the euro, yuan and rupee. Against the US dollar, the euro jumped at least 1.08%, the Chinese yuan by 0.3% and the Indian rupee by 0.43%. Conversely, the Japanese yen fell by 0.31%.
The US market outlook for 2025 is positive. Economic growth is expected, driven by strong consumer spending, rising real incomes and healthy household finances. Favorable government policies are also a factor. Inflation is expected to fall further, while the labor market remains stable, creating a favorable environment for sustainable economic progress.
Crypto Market Scenario This Week
The total market capitalization of the cryptocurrency sector increased from 3.19T to 3.41T this week, an impressive growth of 6.89%. Likewise, the market capitalization of the altcoin increased from 1.34T to 1.47T, registering an increase of around 9.7%. The total cryptocurrency market capitalization, excluding the top ten cryptocurrency indices, also recorded an increase of 11.59%.
Bitcoin Market Overview
The Bitcoin market recorded a growth of 5.87% last week. On December 30, the price stood at a low of $92,802.93. On January 3, 2025, it reached a weekly high of $98,980.05. At the time of writing, BTC price remains at $98,023.99, approximately 0.96% below the weekly high.
Analysis of Ethereum market scenarios
This week, the Ethereum market jumped almost 7.05%. On December 30, the Ethereum price stood at $3,361.95. Although on December 31 it fell sharply to a low of $3,337.65, it rebounded to a weekly high of $3,630.09 on Friday, January 3, 2025. For now, the price ETH remains at $3,591.11, approximately 1.07% below the weekly high.
Top Ten Cryptos: Weekly Performance Review
The first week of January 2025 was largely positive for the crypto sector. Almost all of the top ten cryptocurrencies have shown growth over the past seven days. Besides the 5.87% growth in BTC and 7.05% in Ethereum, the market saw growth in XRP (14.5%), BNB (3.4%), Solana (17. 6%), Dogecoin (24.5%) and Cardano (25%). %).
Trending this week
PolitiFIi, The Boy’s Club, Frog-Themed, Elon Musk-Inspired and AI Agents are the top five trending categories at the time of writing this article. Among them, PolitiFi showed the highest seven-day growth of 47.6%.
Bio Protocol, ai16z, Sui, Virtuals Protocol and Hyperliquid are the top five trending cryptocurrencies this week. Among these cryptos, ai16z shows the largest seven-day increase of 75.8%.
Crypto Category Overview
Over the past seven days, the market cap of the currency category increased by 4.36%, on-chain by 9.32%, stablecoins by 0.31%, meme coins by 21.7% , DeFi by 6.96%, blockchain infrastructure by 8.98%, blockchain services by 11.4%. %, GameFi by 11%, NFT by 5.67%, social by 2.12%. However, during the same period, CeFi’s market capitalization fell by approximately 5.82%.
Stay tuned Coinpedia Weekly Crypto Market Report – where we bring you everything you need to know about the crypto market in the simplest and shortest way!
