FameEX Morning Crypto News Recap | January 3, 2025

US Dollar Index Hits Two-Year High as Markets Anticipate Cautious Fed Rate Cuts in 2025

On January 2, the U.S. dollar index surged to a two-year high as markets anticipated cautious Federal Reserve rate cuts in 2025. Investors expect President-elect Trump’s proposed trade tariffs and tax cuts to drive inflation, potentially limiting the Fed’s ability to implement aggressive rate reductions.

US Dollar Strength May Persist, Potentially Pressuring Bitcoin in the Future

The Federal Reserve’s plan to cut interest rates only twice by 2025, coupled with Trump’s proposed tariffs and rising geopolitical uncertainty, is strengthening the U.S. dollar. Seen as a safe haven, the dollar’s rise and higher yields are putting downward pressure on Bitcoin amid market turbulence.

On-Chain Adoption Rate in 2024 Set to Match 2021 Peak Levels

Dune founder @hagaetc reported that in 2024, on-chain adoption rebounded to 2021 levels, with transfer volume and transaction counts surpassing historical highs. Blockchain adoption is nearing its previous peak, supported by significantly reduced transaction costs, boosting efficiency and accessibility.

Memecoin Market Value Surges 500% in 2024

In 2024, Memecoin’s market value surged 500%, climbing from $20 billion in January to $120 billion by early December. Despite peaking at $137 billion, it later declined to $92 billion by the end of December.

Bitfufu Plans to Acquire 80,000 Mining Machines to Expand Global Mining Operations

Nasdaq-listed Bitfufu has signed a two-year agreement with Bitmain to purchase up to 80,000 S-series mining machines, including S21 XP and S21 Pro models. The company aims to add 1 GW of mining capacity by 2026, enhancing self-operated and cloud mining services with efficient, energy-saving solutions.

X Money Set for Imminent Launch with Licenses Approved in 39 States

X Payments LLC is securing money transmission licenses across the U.S. and has obtained approval in 39 states. A code screenshot displaying “X Money is not available in your state” suggests a potential launch before securing licenses in all 50 states, sparking speculation about its rollout strategy.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.