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Cardano Quietly Returns to Grayscale’s Largest Multi-Asset Fund

Albert Brown
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Cardano Quietly Returns to Grayscale’s Largest Multi-Asset Fund

Cardano (ADA) is back in the Grayscale Digital Large Cap Fund (GDLC).

Over the past few months, Cardano (ADA) has experienced a renaissance thanks to technical developments, key partnerships, and a significant price surge.

This renaissance may have now translated to increased institutional adoption per a quiet change in the composition of Grayscale‘s largest multi-asset fund.

Cardano Returns to Grayscale Digital Large Cap Fund

In April 2024, leading crypto asset manager Grayscale had the Cardano (ADA) community up in arms over its decision to drop the asset from the Grayscale Digital Large Cap Fund (GDLC), its largest multi-asset fund. 

At the time, the firm cited a rebalancing in the CoinDesk Large Cap Select Index (DLCS), which the fund tracks. This index measures the market cap-weighted performance of the five most liquid non-stablecoin crypto assets in the top 20 by market capitalization.

Fast forward to January 6, 2024, ADA is now back in the GDLC per Grayscale’s website, reflecting an increase in ADA volumes in recent months.

While it is not clear exactly when Grayscale made the change, it is likely to have happened around Q4 2024, aligning with ADA’s over 300% price surge from $0.3263 to highs of $1.3264. Grayscale’s Q3 rebalancing statement also did not include ADA in the GDLC.

Screenshot showing ADAs inclusion in Grayscales GDLC holdings as of January 6
Screenshot showing ADAs inclusion in Grayscales GDLC holdings as of January 6. Source: Grayscale

ADA replaces Avalanche (AVAX) to join Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP in the $811.5 million fund.

Increased Institutional Adoption for Cardano (ADA)

With ADA’s return to the GDLC, it looks set to get increased institutional exposure. Representing 1.44% of the market cap-weighted fund’s composition, the fund holds over $11 million worth of ADA for investors.

This ADA holding could balloon in the near future if Grayscale receives approval to convert the GDLC into an exchange-traded fund. The firm filed to do so in October 2024.

Grayscale and Artemis Classify XRP as a Store of Value

Elendu Benedict
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Grayscale and Artemis Classify XRP as a Store of Value

Two notable digital asset firms have ranked XRP, the native token of the XRP Ledger, alongside a few other high-caliber cryptocurrencies as a store of value.

XRP. the third-largest cryptocurrency by market cap appeared on an exclusive list of assets classified as a store of value. For context, an asset boasts a store of value if it keeps its intrinsic value or purchasing power over a long period of time.

Grayscale Brands XRP a Store of Value

In a Monday tweet, Grayscale, the leading digital asset manager, mentioned three assets in its crypto sector that serve as a means of exchange, a store of value, and peer-to-peer transactions. Interestingly, XRP, Bitcoin, and Litecoin were the only three examples on the list.

Grayscale highlighted XRP’s superior qualities, including its hard-capped supply, utility as a global store of value, resistance to censorship, and adoption as a means of peer-to-peer transactions. Furthermore, the asset manager described the XRPL native token as a currency for instant global transfers and a bridge between fiat currencies for cross-border payments.

Artemis Confirms XRP’s Position as Store of Value

Meanwhile, Artemis, a data infrastructural platform, further confirmed XRP’s position as a store of value. The protocol also classified the digital asset among currencies like Bitcoin Cash and Moreno as a store of value.

However, XRP ranks higher than other mentioned assets due to its enormous market cap. The high-caliber asset has a current valuation of around $139 billion, making it the third-largest crypto asset, and a fully diluted valuation of $242 billion.

XRP’s Growing Relevance

Meanwhile, XRP seems to have reawakened from suppression amidst changing regulatory tides in the United States. The asset surged considerably upon Donald Trump’s November election win and confirmation that SEC Chair Gary Gensler will resign this month.

With the SEC expected to drop its years-long legal battle with Ripple when new boss Paul Atkins resumes office, the dark regulatory clouds around the ecosystem would shift. Such optimism has led to an exchange-traded fund (ETF) parade among notable asset managers.

Asset managers like WisdomTree, Bitwise, 21 Shares, and Canary Capital have filed for XRP ETFs, signaling strong demand for the asset among traditional investors.

Meanwhile, the positive sentiments surrounding the XRP ecosystem have impacted its price, spurring a 17% uptick this year. Still, analysts expect further upsides, with targets like $5 and $11 on the short-term radar.

At the time of writing, XRP trades at $2.4396, almost unchanged in the past 24 hours.

XRP SuperTrend Reads Buy Again, a Move That Previously Led to 470% Price Surge

Sam Wisdom Raphael
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XRP SuperTrend Reads Buy Again, a Move That Previously Led to 470% Price Surge

The XRP SuperTrend indicator has again sent a buy signal, a development that previously led to a massive 470% price rally.

Ali Martinez, a well-known market analyst, disclosed this in a recent report as XRP shows signs of an imminent recovery. For context, XRP has continued to record gains alongside the rest of the market since the start of the new year, 2025. 

Notably, XRP is already up 17.70% in 2025 after ending 2024 with a 237% increase, its third-largest documented yearly gain in history. The altcoin is looking to build on the momentum from last year, which began in early November following the Donald Trump win in the U.S. presidential election.

Previous XRP SuperTrend Buy Signal

Interestingly, Martinez’s chart shows that XRP started this November 2024 upsurge after the SuperTrend indicator turned bullish. For the uninitiated, traders use the SuperTrend indicator to identify market momentum and market trends, which helps them to determine when to buy or sell an asset.

XRP SuperTrend Ali Martinez
XRP SuperTrend | Ali Martinez

The indicator flashed a buy signal on the XRP 12-hour chart on Nov. 4 following two consecutive days of persistent losses. At the time, XRP changed hands at $0.5028, battling the bears to breach this psychological level.

Following the buy signal, XRP witnessed a remarkable breakout, soaring on the back of the Donald Trump win. Amid the uptrend, XRP faced roadblocks after various milestones. These include a hurdle after crossing $1 on Nov. 16, another roadblock after hitting $1.63 on Nov. 23, and a third resistance after $2.9 on Dec. 3.

This third resistance stalled the momentum as the broader market lost strength. XRP has since been consolidating between $2 and $2.5. Amid the bearish consolidation, the SuperTrend showed a sell signal in late December, with XRP continuously slipping.

SuperTrend Sends Another XRP Buy Signal

However, the new year brought some bullish momentum with it, and XRP appears to be renewing its uptrend. This has now led to another buy signal on the SuperTrend. Martinez noted that the previous buy signal on Nov. 4 resulted in a 470% increase in XRP price to the $2.9 peak.

Notably, with the latest recovery, XRP now changes hands at $2.43, up 0.71% this morning. If the previous pattern repeats, another 470% increase in prices will push XRP to a new all-time high of $13.85 in the coming weeks. However, the extent of the forthcoming rally remains uncertain.

For context, a $13.85 price would put XRP’s market cap at $796 billion, way above Ethereum’s current market valuation of $443 billion. Most recently, veteran analyst Peter Brandt suggested that an XRP market cap surge to $502 billion is possible, leading to a price of $8.74.

Meanwhile, several other analysts have previously projected the $13 price target for XRP. Last November, CasiTrades predicted an XRP price uptrend to a range of $8 to $13. EGRAG also asserted that his XRP “Nike Swoosh” pattern could push prices to $6.4 or $13.

Bitcoin Breaks $102,000 as US Buyers Return with Major Spike in Coinbase Premium Index

Albert Brown
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Bitcoin Breaks $102,000 as US Buyers Return with Major Spike in Coinbase Premium Index

The Coinbase Premium Index has crossed the 14-day Simple Moving Average (SMA14), signaling renewed U.S. buyer activity as Bitcoin surges past $102,000.

After crossing $96,000 on New Year’s Eve, Bitcoin experienced a quick dip below $93,000. However, strong buyer activity propelled the price upward, leading to an impressive recovery that has set the stage for further gains.

Following a swift correction to $93,000, Bitcoin rebounded to $97,000 by January 2, underscoring robust market activity. Despite a $1,000 pullback, momentum built again, pushing the price to $99,000.

As of this press, Bitcoin has reached $101,866, marking a 2.25% gain in the past 24 hours and a 10.17% increase over the week. The rally aligns with increased trading interest, notably on U.S.-based exchanges, reflected in the Coinbase Premium Index.

Are U.S. Buyers Back in Action?

The Coinbase Premium Index, which tracks Bitcoin’s price difference on Coinbase versus other exchanges, recently crossed above its 14-day SMA for the first time in nearly a month. CryptoQuant highlighted this crossover, which occurred when Bitcoin was valued at $98,100, as a potential signal of renewed U.S. buyer activity. 

Following this, Bitcoin climbed 4% to $102,000. A similar pattern in November 2024 saw Bitcoin rally from $69,000 to $108,000, suggesting historical consistency in the metric’s predictive power.

Strong Overall Holder Positions

Supporting the bullish outlook, on-chain data from IntoTheBlock revealed that 95.11% of Bitcoin wallet addresses, equivalent to 51.35 million holders, are currently in profit. These addresses acquired Bitcoin below the current price. Conversely, only 1.46% of addresses, or 788,720 wallets, remain at a loss, with purchases made at higher price levels.

Notably, 3.43% of addresses, or approximately 1.85 million wallets, are at break-even, having bought Bitcoin at its current price. This data points to a low likelihood of capitulation-driven selling pressure. As the price trends upward, these addresses may hold their positions, potentially sustaining market momentum.

Derivatives Data Reinforces Bullish Outlook

Further adding to the bullish sentiment, Bitcoin’s open interest in derivatives markets climbed by 2.69% to $57.81 billion as of January 6, signaling growing trader activity. 

The long-to-short ratio also turned bullish, surpassing the threshold of 1, reflecting an increased preference for long positions. Additionally, the funding rate rose to 0.0103%, indicating that traders are paying a premium to maintain bullish bets.

FOX Business Reports XRP is the Coin to Watch Right Now

Albert Brown
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FOX Business Reports XRP is the Coin to Watch Right Now

A recent publication from FOX Business has triggered excitement in the XRP community, with discussions highlighting XRP as the token to watch in the expanding crypto market.

Ripple XRP news today: This unfolded on Monday when a FOX Business correspondent, along with David Stryzewski, CEO of Sound Planning Group, discussed the crypto market, particularly as Bitcoin reclaims the $100K mark.

Stryzewski told FOX Business that, in this expanding market, XRP is the cryptocurrency to watch. He went on to provide a detailed explanation for his viewpoint.

Why XRP Is the Coin to Watch Right Now

First, Stryzewski pointed out that XRP was once the second-largest coin before the SEC’s investigation. He argued that XRP is now poised for future growth and widespread adoption, as the SEC’s inquiry into the altcoin has concluded.

Notably, XRP ranked behind Bitcoin in the first week of 2018 but lost that position shortly after. This occurred years before the SEC filed a lawsuit against Ripple in late 2020.

According to Stryzewski, with XRP’s victory in the SEC lawsuit, XRP is set to play a crucial role in global payment transactions. He highlighted Ripple, the major company using XRP for payment transactions, as making significant strides in blockchain technology and payment solutions.

In particular, he emphasized Ripple’s launch of its stablecoin, RLUSD, which occurred last month. He also cited Ripple’s ongoing collaborations with financial giants to use XRP for internal transactions.

Stryzewski believes XRP’s role in the digital economy will only grow thanks to Ripple’s expanding patent portfolio and its focus on redefining the financial sector. “There’s some incredible stuff coming out of this,” he told FOX Business.

Essentially, while XRP faced challenges in the past that impacted its price, Stryzewski is confident in its long-term potential. XRP is trading at $2.43, significantly improving from the $0.50 range it sold for over the past few years.

Notably, Stryzewski’s statement to FOX Business News concerning XRP has sparked significant excitement within the XRP Army.

Stryzewski’s Caution for Investing in Crypto

While advising viewers to consider XRP, Stryzewski also offered a cautious take on cryptocurrency investments.

He echoed the sentiment that crypto markets can feel speculative. Nonetheless, he recommended that investors only put in what they are willing to lose, drawing an analogy to spending money on a weekend getaway.

According to Stryzewski, in the next 3 to 5 years, investors may either see substantial returns or simply lose a few days’ worth of discretionary spending. It’s a calculated risk but one with significant upside potential if approached thoughtfully, in his view.

Brandt Says XRP Could Hit $502B Market Cap, Citing Weekly Half Mast Flag

Albert Brown
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Brandt Says XRP Could Hit $502B Market Cap, Citing Weekly Half Mast Flag

Peter Brandt, a notable market veteran, says an XRP market cap surge to $502 billion is possible, citing the formation of a weekly half-mast flag.

Brandt disclosed this bullish outlook in his recent XRP analysis, leveraging the weekly XRP market cap chart. The chart confirms that XRP has been consolidating within a flag pattern since peaking at $165.74 billion in early December 2024, following a sharp rally. 

XRP Forms Half Mast Flag

For context, this rally was due to a renewal of interest following Donald Trump’s presidential election victory. XRP skyrocketed from a price of $0.50, representing a $28.13 billion market cap, in early November to a seven-year peak price of $2.9 in early December 2024.

This $2.9 price represented a market cap of $165.74 billion, marking XRP’s all-time high valuation. However, since then, the price and market cap have been in consolidation, forming what Brandt calls a “half-mast flag” structure.

The chart highlights XRP’s recent uptrend, followed by a triangular consolidation, which represents an important component of the flag pattern. Notably, the continuation pattern forming now indicates a temporary pause, with price action compressing within narrowing trendlines.

XRP Market Cap 1W Chart Peter Brandt
XRP Market Cap 1W Chart | Peter Brandt

The average directional index (ADX) reads 39.95. This shows that a strong trend remains in play. However, volume appears subdued during the consolidation, a common trait of flag formations, and may precede a breakout.

Typically, such patterns often follow steep upward movements. However, Brandt suggested that flags like this should resolve quickly, typically within six weeks. If they do not, the formation could lose its reliability and evolve into a different chart pattern. 

He cautioned that if XRP’s current flag doesn’t break out soon, it may fail to fulfill its bullish potential. However, should the pattern complete, a projection of a $502 billion market cap becomes feasible.

XRP Price at a $502B Market Cap

This figure would exceed XRP’s previous peak market cap by over 200%. It would also translate to an all-time high price of $8.74 per token. In addition, if Ethereum’s market cap remains stable at $442 billion, XRP could surpass it, becoming the second-largest cryptocurrency.

This would not mark Brandt’s first bullish XRP price prediction despite the market veteran being a long-term critic. Last November, amid XRP’s breakout rally, Brandt revealed that the altcoin faced major resistance at $1.96, the previous cycle’s top. At the time, XRP had just broken above the $1 mark.

Brandt suggested that if XRP breaches $1.96, it could witness an explosive run. XRP has since surpassed this level and now leverages it as support. Also, in December 2024, Brandt argued that XRP had the most powerful chart in all the crypto market.

Notably, XRP currently changes hands at $2.42, up 19.38% over the past week. The asset is now the third largest weekly gainer among the top 10 crypto assets, outperforming industry heavyweights Bitcoin (BTC) and Ethereum.

Here are Returns on $100 Invested in XRP at Launch Compared to Bitcoin

Sam Wisdom Raphael
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0
Here are Returns on $100 Invested in XRP at Launch Compared to Bitcoin

A Bitcoiner compares returns from investing just $100 in XRP at its launch with doing the same for Bitcoin, the premier crypto asset.

Bitcoin (BTC) launched and revolutionized the investing scene, delivering impressive returns to early adopters. However, as the crypto market matured, the advent of altcoins presented alternative options for investors who sought that early adoption privilege but had missed out on capitalizing on BTC in 2009.

Over the years, several altcoins have outperformed Bitcoin due to greater volatility, as BTC grows more into a more matured asset. Nonetheless, at its early stages, the story was different. Mr. M Podcast, podcast host and Bitcoiner, highlighted this in a recent disclosure, comparing returns from the firstborn crypto to XRP.

Returns of $100 Invested in Bitcoin at Launch

Mr. M suggested that investors who committed $100 to Bitcoin at its launch in January 2009 would now be sitting on $12.29 billion as Bitcoin price rose to $98,284. Notably, at a Bitcoin price of $98,284, investors with a balance of $12.29 billion essentially hold 125,045.7 BTC tokens. 

The podcast host’s commentary suggested that these 125,045.7 BTC was worth $100 at the time of launch in January 2009. This would put the value of 1 BTC at approximately $0.0008 then. 

It bears mentioning that the price of Bitcoin at launch remains contested because crypto exchanges were nearly non-existent at the time to present accurate pricing. 

However, recall that the first real-world Bitcoin transaction occurred in May 2010, when Laszlo Hanyecz bought two Papa John’s pizzas for 10,000 BTC. This purchase was worth $8, bringing Bitcoin’s value at the time to $0.0008. Other sources claim Bitcoin traded around $0.0009 sometime in 2009. 

Returns of $100 Invested in XRP at Launch

Meanwhile, the XRP Ledger (XRPL) launched three years after Bitcoin, in June 2012. Mr. M noted that if an investor had procured XRP with $100 at launch in 2012, they would now have $47,800 as XRP price has risen to $2.39.

With this valuation, Mr. M suggests that $100 invested in XRP at launch essentially procured 20,000 XRP tokens. This implies that XRP changed hands at $0.005. Like Bitcoin, pricing data for XRP at launch remains contested, but Coinlore confirms that the first rate detected by its platform was indeed $0.00589. 

This comparison indicates that Bitcoin has a lifetime return of 12,289,999,900% while XRP boasts returns of 47,700%, making the premier crypto asset the better performer. However, since early 2017, XRP has outperformed Bitcoin by a mile. This also applies to their yearly returns.

For context, XRP is up 35,298% since January 2017. Meanwhile, within the same timeframe, Bitcoin has increased 10,406%. In addition, over the past year, XRP has surged 290%, outperforming BTC in the ongoing bull run, which has seen a 141% increase since January 2024.

Don’t Miss Out On The Next Big Thing: This Altcoin Presale Already Surged 300% In Value! PNUT 2.0?

PR DESK
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Don’t Miss Out On The Next Big Thing: This Altcoin Presale Already Surged 300% In Value! PNUT 2.0?

An emerging altcoin in its presale phase has skyrocketed by 300%, capturing the attention of investors during the current bull run. This digital asset is being dubbed by some as the next big opportunity, reminiscent of past successful tokens. The excitement is building as market participants ponder whether this could be the next major player in the crypto space.

Trump’s Victory Fuels Meme Coin Frenzy—Catzilla Ready to Soar

Donald Trump’s electrifying return has reignited the crypto market, and meme coins are leading the charge. While major coins crawl with modest gains, Catzilla ($CATZILLA) is preparing for a seismic leap into the spotlight.

With Trump’s pro-crypto vision to make the U.S. a global crypto powerhouse, the stage is set for a bull run like no other. His victory signals a golden era for meme coins, and Catzilla is positioned as the apex predator in this landscape.

Catzilla isn’t here to play cute games—it’s here to rewrite the rules of DeFi.

A hero in the battle for financial freedom, Catzilla combines the power of chaos with the heart of a warrior, uniting crypto enthusiasts and meme lovers in its unstoppable fight against outdated systems.

As Trump ignites a new wave of crypto excitement, one question roars louder than ever: Will Catzilla claim its crown as the king of the meme coin jungle?

The Big Cat is ready to fight! Get in early and claim your $CATZILLA before it skyrockets!

The days of fleeting hype like $PNUT or $GOAT are over. Their time has passed. Catzilla, with its bold narrative and ambitious roadmap, is ready to dominate the meme coin market and deliver jaw-dropping gains to those who dare to follow.

Catzilla roars into action with 700% ROI potential! Starting at just $0.0002 in presale, the price climbs to $0.0016 over 14 explosive stages. Move fast, and you could grab $CATZILLA with an 88% discount—a deal no serious investor can afford to miss.

Catzilla: Claw Your Way to the Top Now

Stage 4/14 is LIVE, and $CATZILLA is currently priced at just $0.0006. Don’t wait—this is your chance to lock in your tokens before the price increases 16.67% to $0.0007 in the next stage.

Missed the first three stages? Don’t worry—we’re still at the beginning of the presale, with 10 more stages to go! But remember, with each stage, the price rises, so the earlier you join, the greater your potential gains.

Catzilla’s presale is live—join the roar and let your wallet grow bigger than ever!

Earn While You Share: The Catzilla Multi-Level Referral Program

Catzilla isn’t just about investing—it’s about empowering the community. With its multi-level USDT referral program, you can earn rewards just by sharing your referral link. Here’s how it works:

  • 8% of every token purchase made by your direct referrals (Level 😺).
  • 2% of every token purchase made by your referrals’ referrals (Level 😺😺).
  • 1% of every token purchase made by referrals’ referrals’ referrals (Level 😺😺😺).

Simply share your link and start earning passive USDT income while helping others join the Catzilla movement.

Why Catzilla?

Catzilla is here to roar louder than ever, blending the best of crypto enthusiasts, meme addicts, anime fanatics, and DeFi warriors into one unstoppable force. This electrifying fusion unites communities under a single, power-packed banner. With its bold storytelling, irresistible rewards, and jaw-dropping profit potential, Catzilla isn’t just a token—it’s a movement ready to dominate the market and steal the spotlight. Get ready to be captivated—Catzilla is taking over!

Catzilla’s presale is live—join the roar and let your wallet grow bigger than ever!

Peanut the Squirrel (PNUT): A Zero-Tax Meme Token on Solana

Peanut the Squirrel (PNUT) is a meme-inspired cryptocurrency on the Solana blockchain, catering to meme enthusiasts and the crypto community. It has a total supply of 100 million tokens and features zero transaction taxes, a revoked contract, and a burnt liquidity pool to ensure asset security for holders. The token’s mascot, Pnut, is a playful, Pepe-like squirrel that embodies a lighthearted and community-driven spirit. Users can acquire PNUT through platforms like Jupiter Aggregator. With its unique features and focus on community, PNUT presents potential interest in the current market cycle.

Conclusion

While coins like PNUT may have less short-term potential, Catzilla emerges as the ultimate meme coin hero aiming to bring financial freedom to everyone. Offering a remarkable 700% ROI potential during its presale, triple utility features, and a mission to unite crypto enthusiasts, Catzilla invites participation in the battle against crypto villains.

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MicroStrategy Buys More Bitcoin as its Weekly BTC Buying Spree Hits Week Nine, Achieving 74% BTC Yield

Albert Brown
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0
MicroStrategy Buys More Bitcoin as its Weekly BTC Buying Spree Hits Week Nine, Achieving 74% BTC Yield

Chairman of MicroStrategy Michael Saylor has disclosed a fresh acquisition of Bitcoin worth over $100 million as the 2025 bull market prepares to take stage.

Today, MicroStrategy revealed the addition of 1,070 BTC to its Bitcoin portfolio, investing $101 million in the market. The latest acquisition occurred at $94,004 per coin, suggesting the transaction likely occurred earlier, as Bitcoin now trades around $99,500 at press time.

Currently, MicroStrategy holds 447,470 BTC, which it has acquired over four years at a total cost of $27.97 billion. The average purchase price per coin now stands at $62,503. At Bitcoin’s current price, MicroStrategy’s portfolio is collectively worth $44.55 billion. Accordingly, the software services firm is sitting on an unrealized profit of $16.59 billion.

MicroStrategy’s Bitcoin Buying Streak

Notably, the latest acquisition builds on MicroStrategy’s continued Bitcoin purchasing momentum. The company bought 258,320 BTC in 2024, with its buying spree intensifying in the last weeks of the year when it shifted to weekly Bitcoin purchases.

Since November 11, after pro-Bitcoin Donald Trump won the U.S. presidential election, MicroStrategy has announced BTC purchases every Monday. Today’s announcement marks the ninth consecutive weekly purchase.

MicroStrategy made its largest-ever single purchase on November 25, acquiring 55,500 BTC for $5.4 billion.

MicroStrategy Achieved 74.3% Bitcoin Yield in 2024

Of all its Bitcoin acquisitions, the one on December 23 stands as the only individual transaction with a loss. The company bought 5,262 BTC at $106,662 per coin, while Bitcoin is now trading at $99,500 per coin at press time.

Nonetheless, MicroStrategy remains up by 59.35% on its total Bitcoin holdings, with earnings exceeding $16 billion.

Meanwhile, in the announcement, Saylor disclosed that the company achieved a BTC yield of 48% in Q4 2024 alone. He added that for the entire year of 2024, the BTC yield was 74.3%.

Community Reacts: Will MicroStrategy Maintain Its Momentum for the Tenth Week?

MicroStrategy’s consistent Bitcoin purchases for nine weeks in a row have generated excitement in the crypto community.

Bitcoiner Neil Jacobs commented on the announcement, praising MicroStrategy for leading the way again. He highlighted the timeless wisdom that the best time to buy Bitcoin was yesterday, and the second-best time is today, with MicroStrategy setting the example.

Meanwhile, others have noted the progressively reduced quantity in its weekly purchases. They question whether the company will maintain the same momentum for a tenth week.

Community reaction
Community reaction

Notably, last week, the company announced plans to raise $2 billion to buy more BTC.

Comparing Dogecoin Cap to BNY Mellon, Bloomberg Analyst Suggests Crypto Market Could be Due for Crash

Albert Brown
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0
Comparing Dogecoin Cap to BNY Mellon, Bloomberg Analyst Suggests Crypto Market Could be Due for Crash

Bloomberg’s Mike McGlone suggests crypto assets could be due for price drops, comparing the valuations of Dogecoin and BNY Mellon, America’s oldest running bank.

Notably, the crypto market has never looked more promising. Bitcoin has set new price records above $100,000, several altcoins have seen their prices soar over 200%, and analysts are predicting prices will run higher amid anticipated regulatory and macroeconomic tailwinds, but amid the excitement, one analyst continues to offer a note of caution.

Is the crypto market overheated?

Dogecoin (DOGE) Valuation on the Rise: A Warning Sign?

Bloomberg Intelligence Senior Commodity Strategist Mike McGlone has warned that the crypto market may be showing signs of a looming “reversion.” 

McGlone expressed this opinion in an X post on Monday, January 6, surmising views from a recent Bloomberg report. Citing Dogecoin’s (DOGE) rising market cap valuation, the analyst suggested that crypto assets were getting overvalued.

As McGlone highlighted, DOGE boasted a market cap of $55 billion on January 3, the same as Bank of New York Mellon, one of the oldest banks in the world and the first company to be listed on the New York Stock Exchange.

Pointing out potentially high market irrationality, McGlone highlighted that DOGE offered zero earnings while BNY Mellon was on pace to earn $19.1 billion in 2025.

Following up this warning in a separate post, McGlone touted the prospect of precious metals over Bitcoin and the broader crypto market, noting that the large number of crypto assets, 2.4 million or so, offered echoes of the dot-com bubble.

It is the second time McGlone has warned that the crypto market’s rally may be at its limits in the past month.

Gold Strength 

On December 19, 2024, McGlone warned that Bitcoin and other risk assets may have reached their bull market cycle peak, citing the strength of gold in 2024.

As the Bloomberg strategist highlighted, gold managed to narrowly outperform the S&P 500, with which Bitcoin is strongly correlated, in 2024 despite the buzz around artificial intelligence. McGlone contended that gold’s strength suggested that investors may be anticipating looming headwinds for risk assets.

This view comes as investors tend to increase gold exposure to safeguard value in times of high uncertainty.

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