Cryptocurrencies started the new year with a bullish rally fueled by optimism about 2025. Bitcoin (BTC) led the way, erasing losses from the previous week by surpassing $95,000 for the first time this year.
Crypto Market Soars as Bitcoin Rises Above $95,000; XRP Leads Gains Amid South Korea Trade Surge
XRP has emerged as the star-performing altcoin among major tokens, up 11% as of Thursday.
This rise was driven by unusually high trading volumes coming from South Korea, particularly the UpBit exchange, where $1.3 billion worth of XRP changed hands.
Historically, such activity has typically preceded significant price swings with an upward trend.
Other major tokens also recorded impressive gains:
Cardano (ADA), Solana (SOL), and Chainlink (LINK) are up by up to 8%.
Ethereum (ETH) and BNB Chain (BNB) rose by 3%.
Memecoin Dogecoin (DOGE) and Shiba inu (SHIB) gained 5%.
Key Drivers Behind the Rally
Political and Regulatory Optimism
Expectations that new US President Donald Trump will form a crypto-friendly administration have stimulated the markets.
His campaign promises include policies to support cryptocurrency adoption and the establishment of a strategic Bitcoin reserve that energizes market participants.
*This is not investment advice.
