Bitcoin reclaims $105,000, while memecoins outperform market average
Memecoins soared 10% in the past 24 hours, surpassing the market average of 5.7%.
Bitcoin ( BTC ) regained the $105,000 price level after climbing 5.1% in the past 24 hours.
As of press time, the flagship crypto was trading at $105,505, followed by a 10% increase registered by the memecoin sector.
BTC started a steep correction last week following the stronger-than-expected labor market data in the US. From Jan. 7 to 13, it registered a 10% pullback from the $101,000 price zone to the low area of $90,000.
However, the US consumer price index related to December came within estimates of a 0.4% monthly surge. This raised the expectations of interest rate cuts in the US this year, increasing the appetite for risk and prompting a 9% rise in BTC’s price.
Altcoins followed suit, with XRP registering a new all-time high slightly past its previous peak of $3,40 on Jan. 16. Ethereum ( ETH ) is priced at $3,506.11 after a 4.4% daily increase, Solana ( SOL ) sits at $218.24 following a 2.2% gain, and BNB grew 1.6% to reach $726.72.
Memecoins surge
In this recovery landscape, memecoins stole the limelight. Among the top 20 crypto by market cap, Dogecoin ( DOGE ) and Shiba Inu ( SHIB ) led the daily gains, rising 8.5% and 8.9%, respectively.
The memecoin sector climbed 10%, heavily surpassing the market average daily performance of 5.7%. According to data from Artemis, Popcat ( POPCAT ) led among the 200 largest memecoins by market cap, with nearly 19% gains in the past 24 hours.
Solana-based Bonk ( BONK ) and Dogwifhat ( WIF ) also registered gains of 13% and 5.5%, respectively. Meanwhile, Pepe ( PEPE ) jumped 12% in the daily timeframe.
Tokens related to decentralized exchanges for derivatives trading had the second-best daily performance, growing 8.1% on average.
Popular narratives, such as artificial intelligence and decentralized physical infrastructure network (DePIN) tokens, also outperformed the market average, rising 6.4% and 6.8%, respectively.
Tokens related to centralized exchanges and real-world assets (RWA) protocols are among the sectors below the average, with respective price increases of 5.6% and 3.8%.
Bitcoin Market Data
At the time of press 9:15 pm UTC on Jan. 17, 2025, Bitcoin is ranked #1 by market cap and the price is up 4.47% over the past 24 hours. Bitcoin has a market capitalization of $2.07 trillion with a 24-hour trading volume of $71.19 billion. Learn more about Bitcoin ›
Bitcoin
9:15 pm UTC on Jan. 17, 2025$104,698.24
4.47%Crypto Market Summary
At the time of press 9:15 pm UTC on Jan. 17, 2025, the total crypto market is valued at at $3.67 trillion with a 24-hour volume of $169.22 billion. Bitcoin dominance is currently at 56.50%. Learn more about the crypto market ›
Mentioned in this article
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ripple XRP vs.SEC Legal Case to Close Soon
Bitcoin Sets Higher Lows—Can Bulls Target $88K Resistance?

Solana Faces 50% Drop Risk as $125–$137 Range Holds the Key Amid Market Volatility

Panama City Council makes history as the first government institution accepting crypto payments
Share link:In this post: Panama City council voted in favor of becoming the first public institution of government to accept payments in cryptocurrencies. Citizens will now be able to pay taxes, fees, tickets and permits entirely in crypto starting with BTC, ETH, USDC, and USDT. The city partnered with a bank that will receive crypto payments and convert them on the spot to U.S. dollars, allowing for the free flow of crypto in the entire economy.

Trending news
MoreCrypto prices
More








