• Wealthcamp
  • Posts
  • Dedollarization Momentum: What Could This Mean for Crypto?

Dedollarization Momentum: What Could This Mean for Crypto?

Author

Austin Hodge
January 15, 2025 • Read Time: 13 minutes

In a bold move against the US dollar's global dominance, Russia and Myanmar are elbowing their way into the headlines with talks of a national currency payment system for bilateral transactions between the two nations. As the dedollarization train gains momentum, the implications for the cryptocurrency market are intriguing and potentially transformative.

Let's dive in!

  • Russia and Myanmar discuss moving away from the dollar with a bilateral national currency payment system. — Read More

  • Rep. Tom Emmer takes vice chair position on Digital Assets Subcommittee, aiming to advance Trump's pro-crypto regulatory agenda. — Read More

  • Analysts predict significant crypto market fluctuations around Trump’s inauguration, citing inflation fears and potential crypto-friendly policies. — Read More

  • Bank of England launches Digital Pound Lab to test CBDC applications with private sector collaboration. — Read More

  • Sigma Capital launches a $100M startup fund to drive Web3 and blockchain innovation in the UAE. — Read More

  • A TikTok ban in the U.S. is unlikely to significantly impact the crypto market, as the platform has been suppressing related content for years. — Read More

  • Nubank opens 4% annual USDC rewards to all crypto wallet users, enhancing their stablecoin rewards program. — Read More

  • Thai cyber police aim to shut down Polymarket, citing gambling law violations via crypto use. — Read More

  • South Korea plans tougher crypto rules focusing on stablecoins and user protection, eyeing completion by mid-2025. — Read More

  • Bison partners with Deutsche Bank to safeguard customer euro balances while maintaining fees and limits unchanged. — Read More

  • South Korean exchange Bithumb partners with Kookmin Bank, signaling a shift in traditional finance relationships with crypto. — Read More

Bitcoin Surges as Markets Eye Trump and CPI

Bitcoin rallies to $96,580 amid anticipated economic policy shifts and pivotal CPI data, suggesting potential price highs by 2025.

Corporate Bitcoin buying predicted to surge by Bitwise CIO

Bitwise CIO sees a megatrend as companies are expected to significantly increase their Bitcoin purchases, driven by new accounting standards and successful examples like MicroStrategy.

Crypto Stocks Surge as Bitcoin Reaches New Highs

MicroStrategy, Coinbase, and MARA stocks rebound as Bitcoin edges toward $100,000 amid ongoing market volatility.

Crypto Hedge Funds Thrive Yet Trail Bitcoin's 2024 Surge

Crypto hedge funds had a strong 2024, but Bitcoin's 120% surge left them trailing.

Osprey Plans Bitcoin ETF Conversion Post Bitwise Deal Collapse

Osprey Funds pivots to Bitcoin ETF conversion following the failure of Bitwise acquisition agreement, filing expected soon with the SEC.

Bitcoin ETFs See Decline as Ether ETFs Turn Positive

Bitcoin ETFs experience $1.2 billion outflow over four days, Ether ETFs gain $1.15 million in fresh inflows.

Italy's Largest Bank Purchases €1M in Bitcoin

Intesa Sanpaolo buys 11 BTC for €1M, marking its first direct crypto purchase, as confirmed by WIRED Italia.

Ethereum Price Bounces After Testing Critical Support

Ethereum dipped below $3,000 before recovering amid volatility, sparking analyst predictions of a potential $7,000 target.

Litecoin Leads Crypto Spending Surge in 2024

BitPay processed 600K crypto transactions in 2024 led by LTC, BTC, ETH.

Rocketpool vs Lido: Ethereum Staking Showdown

Rocketpool and Lido offer unique Ethereum staking solutions with differing access, liquidity, and governance models.

Stablecoin Stagnation Signals Volatile Bitcoin Future

Bitcoin's recovery to $90,000 faces volatility as stablecoin supply stalls, indicating weak market liquidity.

Alkimiya Explores Speculation on Base Blockspace Costs

Alkimiya enables betting on the fluctuating cost of Base's Ethereum blockspace, backed by major venture firms.

Moonpay Buys Helio

Moonpay acquires Solana-based crypto payment firm Helio.

Sotheby's Auctions NBA Top Shot NFTs Amid Market Resurgence

Sotheby's auctions NBA Top Shot NFTs valued between $500 and $3,000 each amid a modest NFT market resurgence.

USDC Circulation Surges 78% Yet Trails Tether

Circle reports a 78% growth in USDC circulation in 2024, yet it remains behind Tether's market dominance.

Bubblemaps Unveils Solana Token and Investigation Platform

Bubblemaps introduces Solana token alongside Intel Desk, a platform for community-driven on-chain investigations.

Solana's PNUT Coin Surges 30% After Coinbase Debut

Solana's PNUT token jumps 30% on Coinbase listing, still lags behind its previous peak.

Polkadot Eyes Bullish Breakout at $6.80

DOT nears $6.80 breakout, aiming for bullish momentum with targets of $8.22–$9.32.

Whale Buying Boosts Polygon Toward Breakout

Polygon's whale activity surges, hinting at a potential price breakout amid bullish momentum, challenging $0.63 resistance.

XDC Price Poised for All-Time High After Recent Surge

XDC soars 68% in 2025, closing in on its all-time high as it breaks critical resistance levels.

Algorand Poised for a 60% Surge Amid Trump Speculation

Algorand (ALGO) could see a 60% price surge if Trump's crypto policies align, with ALGO already up 10% on speculation.

Litecoin Eyes $180 With Potential Breakout

Litecoin holds higher lows, aiming for $180 amid resistance breakout potential.

Chainlink bounces back 18% amid bullish signals post-upgrade, with potential highs in 2025.

Chainlink's CCIP v1.5 upgrade enables cross-chain token deployment in minutes, enhancing programmability and control.

Solana's Edge in AI and Blockchain

Solana becomes the go-to blockchain for AI applications, with around 70% of AI agents relying on its network.

Tom Emmer Named Vice Chair of House Subcommittee on AI and Digital Assets

Tom Emmer, a staunch advocate for crypto, appointed vice chair of House Subcommittee, pledging to fight against rigid regulations.

AI Tokens Surge as Franklin Templeton Notes 'Significant Promise'

AI16z and Virtuals Protocol tokens see significant gains amid Franklin Templeton's optimistic outlook on AI agents and cryptocurrencies.

Good Market Debuts AI-Powered No-Code Trading Platform

Good Market launches an AI-driven platform to curb retail traders' emotional errors, entering closed beta with 500+ participants.

MEET48 Tops Social DApp Rankings with MEET BEST7 Event

MEET48's voting DApp became a top social platform, with over 697M votes cast and major upcoming AI initiatives announced.

Mimo and Plume Join Forces to Tokenize AI Assets

Mimo partners with Plume to offer tokenized AI compute investments, providing yields of up to 200% APY.

Yeti Ouro Poised to Dominate Play-to-Earn Market

Yeti Ouro, a new ETH-based token, is set to challenge Shiba Inu in the play-to-earn gaming sector with its real use case and deflationary model.

'Forgotten Runiverse' Launches Crash the Server Event Ahead of 2025 Release

Players are invited to stress-test 'Forgotten Runiverse' servers for a chance to earn Quanta and exclusive armor sets.

Farm Frens Snapshot for Ethereum Airdrop Announced

'Farm Frens' Telegram game sets January 20th as snapshot date ahead of Ethereum layer-2 airdrop, impacting player rewards based on in-game currency and NFTs.

SEC Sues Elon Musk Over Twitter Stock Purchase Disclosure

SEC seeks penalties against Musk for delayed Twitter stock disclosure, possibly saving him $150 million.

SEC Postpones Bitwise Crypto ETF Decision

The SEC has postponed its decision on the Bitwise 10 Crypto Index ETF until March.

Gensler Compares Bitcoin to Gold, Cautions on Crypto Regulation

Gary Gensler likens Bitcoin to gold in a final CNBC interview, warns most crypto tokens fall under securities laws.

RedNote Gains Traction Amid Imminent TikTok Ban

TikTok influencers migrate to RedNote as U.S. ban looms, fueling debate over app loyalty and international privacy laws.

Senator Warren Questions Scott Bessent on Crypto Regulations

Senator Warren presses Scott Bessent for tighter crypto regulations, questioning the use of stablecoins and illicit activity connections.

Crypto.com Faces CFTC Bet Ban Scrutiny

Crypto.com under investigation by CFTC for illegal Super Bowl betting contracts, possible gaming law violations loom large.

Malaysia's PM eyes blockchain policy overhaul

Malaysia's PM initiates crypto policy development after meetings with CZ and UAE officials.

IRS-CI's New Battlefront: Fighting Crypto Crimes

Episode 145: IRS-CI's role in tackling the modern crypto-criminal landscape is dissected alongside Chainalysis' Jim Lee and IRS-CI's Jarod Koopman.

UK Aims to Ban Ransomware Payments in Critical Sectors

UK Home Office proposes a targeted ban on ransomware payments for critical infrastructure to combat cybercrime.

DPRK Hacks Net $659M in 2024 Crypto Heists

North Korean hackers, backed by DPRK, stole $659 million in cryptocurrency in 2024, prompting joint warnings by the US, Japan, and South Korea.

Russian Miner Jailed for Crypto Transfers to Ukraine

A Russian diamond mining firm employee was jailed for sending cryptocurrency to support the Ukrainian army, which the FSB claims compromised Russian security.