Latest crypto market events
2 min readJan 17, 2025
- A 17-storey crypto tower is set to be built in Dubai. The building will become a development hub for Web3 and other technologies. The construction will take place in the leading free-trade zone of the UAE. “Dubai’s new 17-story Crypto Tower, announced by DMCC and REIT Development, will cater to blockchain, DeFi, and Web3 businesses. The tower, set to open in 2027, will also host a crypto club and event spaces for blockchain networking,” crypto influencer Mario Nawfal shared on X.
- According to media reports, on January 20, Donald Trump will issue an order designating digital assets as a national priority. The order could also create a crypto advisory council that will advocate for the industry’s political interests. That said, media sources have debunked previously published reports about the incoming president’s idea of an “America-first” strategic reserve prioritizing the U.S.-founded altcoins.
- JPMorgan allowed that over the first half of this year, XRP and SOL-based ETFs could attract more investments than Ethereum exchange-traded funds. The analysts noted that spot Bitcoin ETFs that were launched in the USA in 2024 made up about 6% of the flagship cryptocurrency’s market cap. In comparison, Ethereum ETFs attracted about 3% of the cryptocoin’s market cap. “When applying these so-called “adoption rates” to SOL and XRP, we see SOL attracting roughly $3 billion-$6 billion of net assets and XRP gathering $4 billion-$8 billion in net new assets,” JPMorgan reported.