📉Crypto Selloff Continues for Third Day

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✍️ In today’s newsletter:

Leveraged liquidations topped $650 million on Jan. 8
Ripple president claims XRP ETFs will come next
Satoshi Action Fund says multiple states are ready to consider BTC reserves
Ripple partners with Chainlink to boost RLUSD adoption in DeFi
Bitwise CEO says niche companies will use AI to tokenize
Steno Research predicts BTC and ETH will hit $150K and $8K this year
Phuket to launch crypto payments
Drift Protocol TVL hits $1 billion
AI Agent NFTs outperform
Starknet rolls out SN stack
Reddit’s head of NFTs leaves the company
Hyperliquid faces decentralization concerns

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📉Liquidations Top $655 Million as Crypto Markets Drop for Second Day

The cryptocurrency market experienced continued volatility over the past 24 hours, with Bitcoin, Ethereum, and other major digital assets dropping sharply. Nearly a quarter of a million leveraged traders were liquidated for a total of $656 million. Altcoins accounted for around $160 million in liquidations, while BTC followed with $135 million, and ETH recorded around $115 million in liquidations.

🏦Ripple President Says XRP ETF Next In Line After Bitcoin and Ethereum's

Ripple President Monica Long said in a Bloomberg News interview that an XRP ETF is likely next in line after Bitcoin and Ethereum ETFs. Long said that several companies have filed for an XRP ETF with the SEC and that Ripple expects the approvals of the filings to accelerate due to the incoming administration change.

🇺🇸Satoshi Action Fund Says Multiple Bitcoin Reserve Bills Will Soon Be Introduced at the State Level

Dennis Porter, CEO and co-founder of the Satoshi Action Fund, has revealed that up to 20 Strategic Bitcoin Reserve (SBR) bills are set to be introduced at the state level in the United States.

⛓️Ripple Turns to Chainlink to Push RLUSD Stablecoin Into DeFi

Digital payment network Ripple is looking to make inroads into the decentralized finance (DeFi) marketplace with its new RLUSD stablecoin.

🤖AI Can Help a Long Tail of Micro Companies to Issue Tokens, Bitwise CEO

Tokenized stock will revolutionize the way small and medium-sized companies access capital markets, according to the CEO of Bitwise's crypto fund manager, Hunter Horsley.

🚀Steno Research Predicts Bitcoin and Ethereum Will Hit $150,000 and $8,000 This Year

A senior crypto analyst at Steno Research predicts that Bitcoin and Ethereum prices will rise to $150,000 and $8,000 in 2025 due to favorable crypto regulation, historical performance post-Bitcoin halving, positive exchange-traded fund (ETF) inflows, and a supportive macroeconomic climate.

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🏝️Thailand To Roll Out Pilot for Cryptocurrency Payments in Phuket

Thailand is set to pilot cryptocurrency payments in Phuket, allowing tourists to use Bitcoin for transactions. This project is designed to promote the use of digital assets and enhance Thailand's appeal as a crypto-friendly destination.

📈Drift TVL Hits $1 Billion, Adds BONK as Collateral Asset

Solana-based perpetuals trading platform Drift has surpassed $1 billion in TVL. Shortly after achieving the milestone, it announced that users could now use BONK as collateral on the platform.

📊AI Agent NFTs Outperform Broader Market

Amidst the AI agent token hype, agent-focused NFT projects are outperforming the rest of the market. Parallel Avatars and Onchain GAIAs are leading the charge.

🌐StarkNet Rolls Out SN Stack For Custom Blockchain Deployment

Ethereum Layer 2 StarkNet has released a new software called SN Stack that allows developers and users to build custom blockchains.

🙋‍♀️Reddit NFTs Head is “Unsure” of Collection Direction After Her Exit

The head of Reddit’s Collectible Avatars (RCA), an NFT collection, said she’s unsure of the direction for the RCA program after announcing her departure from the company.

🗳️Hyperliquid Fights Back Against Lack of Decentralization Complaints

In response to criticism of its handling of the addition of new validators to Hyperliquid , the Hyper Foundation tried to ease concerns that its recent expansion from four to 16 validators wasn’t transparent, and even that some validators bought their seats.

🌍 ELSEWHERE

Bitcoin Languishes as US ETFs See Second-Highest Daily Outflow (Bloomberg)
FTX Bankruptcy Estate Hits Out Over 'Unauthorized' Sale of FTX EU to Backpack Exchange (Coindesk)
Coinbase Receives CFTC Subpoena for Customer Data Related to Polymarket (Decrypt)