Thailand considers approving local bitcoin ETFs amid global competition: Bloomberg

On Jan. 15, the Chainlink team announced that the Cross-Chain Interoperability Protocol v1.5 upgrade was now live on mainnet for all developers.

The upgrade empowers developers to take their tokens cross-chain “in a self-serve manner” and deploy Cross-Chain Tokens (CCTs) across more than twenty blockchains in minutes, it added.

CCIP is a secure and easy-to-use protocol for transferring tokens and messages across various blockchains.New Chainlink CCT Standard

The CCIP v1.5 introduces the Cross-Chain Token (CCT) standard, explained Chainlink. The new standard offers developers “full control and ownership, enhanced programmability, and zero-slippage transfers,” it added.

“CCIP v1.5 marks a major upgrade to the CCIP developer experience, making it easier than ever to onboard new or existing tokens to the CCT standard and integrate CCIP into cross-chain applications.”

It stated that CCTs do not require developers to inherit any CCIP-specific code within their token’s smart contract, and they can deploy pre-audited coin pool contracts to turn any ERC-20-compatible asset into a CCT.

The upgrade also includes a CCIP Token Manager which provides a streamlined user interface for developers to launch and manage CCTs.

The Chainlink CCIP v1.5 upgrade is now live on mainnet for all developers.

This release empowers devs to take their tokens cross-chain in a self-serve manner, deploy Cross-Chain Tokens (CCTs) across 20+ blockchains in minutes, & much more.

Full details ↓ pic.twitter.com/9xzahbZVzb

— Chainlink (@chainlink) January 14, 2025

Developers can also manage CCT deployments with “Smart Accounts,” which will require approvals from multiple owners to authorize transactions, it added.

CCIP will also help increase access to bridged USDC to “help prevent liquidity fragmentation and accelerate DeFi adoption across the multi-chain ecosystem,” it stated.

Chainlinkcommunity ambassador Zach Rynes tested out the system, reporting that he created a Cross-Chain Token called CLG in a couple of minutes and transferred it between layer-2 networks Base and Arbitrum.

Chainlink CCIP v1.5 is awesome

I just created a Cross-Chain Token called $CLG in a couple minutes and transferred it between @base and @arbitrum

Fully permissionless and no coding required, just used the new CCIP Token Manager to create the token and @transporter_io to… pic.twitter.com/ptpLlVWd17

— Zach Rynes | CLG (@ChainLinkGod) January 14, 2025

In early January, Chainlinkpartneredwith Ripple to accelerate the adoption of the cross-border payments firm’s stablecoin, Ripple USD (RLUSD).LINK Prices Up

The protocol’s native token, LINK, gained around 6% on the day to reach an intraday high of $20.60 during early trading in Asia on Wednesday.

Like most altcoins, LINK has taken a beating over the past month, falling around 30% from its mid-December high of just over $30.

According to Santiment,whaleshave bought 1.35 million LINK over the past 24 hours, pushing its price back to resistance at $20 following a dip to $18.24 on Monday.

The next resistance zone to overcome is around the $24 level, where LINK last tapped on Jan. 6.

The crypto market has entered 2025 with a bullish momentum, fueled by a number of global developments. Recently, Bitcoin touched the $100,000 mark for the first time, driven by the appointment of Paul Atkins, a pro-crypto advocate, as SEC Chair under the Trump administration. This move marks a significant regulatory shift towards fostering innovation in the digital asset market in the US.

As the market continues with its bull run, the Crypto Market Sentiment Index climbed to 63, which reflects the growing optimism of investors. Popular altcoins like XRP and Solana closely follow the growth trajectory of Bitcoin, surging 5.8% and 7.3%, respectively.

Naturally, investors looking to diversify their portfolios and ride the crypto wave are exploring the hottest crypto presales in January 2025. With the market poised for further evolution, here are the top 5 presales you should be looking at.

1. Wall Street Pepe ($WEPE) – Overall Best Crypto Presale in January 2025

Having raised over $48M during its ongoing presale, Wall Street Pepe ($WEPE) continues to dominate the list of most sought-after crypto assets in 2025. Interestingly, it blends entertainment and innovation.

Crypto derivatives platform Deribit, has received potential acquisition interest, Bloomberg reported on Wednesday, citing sources.

The report added that the firm is working with Financial Technology Partners to review the opportunities.

Deribit CEO Luuk Strijers told CoinDesk that the options platform had appointed FT Partners as an advisor for general advisory services and potential secondaries, back in 2023.

"The interest in Deribit is due in part to the fact that we have continued to be the overwhelming market-leading exchange for digital asset options trading," Strijers said.

"In short, Deribit has not been put up for sale. Over time, we have received interest in strategic investments from a variety of parties, which we will not disclose," Strijers added.

The firm may valued at $4 billion- $5 billion or more, the report said, citing a person with knowledge of the matter. The report also added that crypto exchange Kraken had reviewed buying Deribit, but did not proceed with an offer.

Kraken did not immediately respond to CoinDesk's request for comment.

The current bull run in the crypto market seems to have reignited M&A activity with major players like Moonpay and Chainalysis having announced two large acquisitions this week.

XRP, the third-biggest cryptocurrency by market capitalization, has surged by more than 12% over the past 24 hours, according to CoinGecko data.

The token has hit an intraday high of $2.87, surging to its highest level since Dec. 3.

The price spike comes amid growing ETF buzz, with banking behemoth JPMorgan recently predicting that an XRP ETF might end up attracting up to $8 billion.

According to analytics platform Santiment, the ongoing XRP price rally is being supported by "continued enormous accumulation" from various cryptocurrency wallets that hold between 1 million and 10 million tokens.

These wallets now own 37% more coins than they did just two months ago, according to Santiment.

The most recent rally also comes on the cusp of SEC Chair Gary Gensler leaving the agency less than a week from now.

Following its massive price spike, XRP is now just 16% away from reaching a new record high after seven years.

Ripple USD (RLUSD), a hotly-anticipated stablecoin by U.S. fintech giant Ripple, went live Dec. 17, 2024 after months of testing.

In this guide, we are going to discuss the features of the new stablecoin, its role for the segment and the potential impact on the XRP price.

Ripple’s RLUSD stablecoin gains traction: Highlights

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Ripple USD or RLUSD is a stable cryptocurrency pegged to the U.S. dollar that is issued by the subsidiary of Ripple decacorn.

• Launched in December 2024, Ripple USD (RLUSD) is a stablecoin by Ripple pegged to the U.S. dollar at a 1:1 rate.
• RLUSD is a centralized stablecoin issued by Ripple’s wholly owned subsidiary upon the approval by N.Y. Department of Financial Services.
• RLUSD is issued under a New York Trust Company charter, which makes it subject to U.S. regulation.
• Ripple’s USD is simultaneously issued on top of two blockchains: Ethereum and XRP Ledger (XRPL).
• RLUSD is designed to be used in e-commerce, cross-border payments and XRPL-centric DeFi applications.

Backed by the ecosystem affiliated with Ripple, one of the largest U.S. fintechs, RLUSD is part of Ripple’s program of increasing its share in the global digital economy.

What are stablecoins?

Stablecoins or stable cryptocurrencies are digital assets specifically designed to maintain a stable price pegged to largest global currencies, including USD, EUR, MXN, CNY, or commodities like Gold and Silver.

The concept of a stablecoin is set to address the problems of cryptocurrency volatility that prevents digital assets from being used in complex economic mechanisms. Ideologically, they offset the gap between traditional currencies and blockchain applications.

Centralized stablecoins

Centralized stablecoins are issued by some entities that are solely responsible for their backing, minting process and peg stability. Technically, an issuer keeps a basket of assets (fiat money, U.S. Treasury notes, precious metals and so on) and creates a corresponding amount of stablecoins on this or that blockchain.

Therefore, holders of centralized stablecoins should always be able to redeem underlying assets. The status of reserves for some major centralized stablecoins is controlled by third-party audits.

U.S. Dollar Tether by Tether Limited and USD Coin (USDC) by Circle and Coinbase are the largest centralized stablecoins.

Decentralized stablecoins

Decentralized (algorithmic) stablecoins are fully on-chain: Their reserve basket includes only cryptocurrencies. For instance, an issuer (decentralized autonomous organization, DAO) holding 1,000 Ethers can mint 3.3 million USD-pegged stablecoins with moderate risks. However, should the Ether value be shrinking, the reserve prices will drop and decentralized stablecoins will lose their peg.

Decentralized stablecoins can be very risky, but they are more censorship-resistant as no single entity controls their supply dynamic.

FRAX by Frax Finance and Magic Internet Money (MIM) are decentralized stablecoins pegged to the U.S. dollar.

Top stablecoins in 2025: List

Stablecoins are particularly popular since they have all the advantages of cryptocurrencies, but are not volatile. Since the inception of the stablecoin concept, the segment surged to a $211 billion market cap.

• Tether
• USDC (USDC)
• Ethena USDe (USDE)
• USDS (USDS)
• Dai (DAI)
• First Digital USD (FDUSD)
• Usual USD (USD0)
• USDD (USDD)
• Tether Gold (XAUT)
• Frax (FRAX).

Despite there being hundreds of stablecoins existing across various blockchains, the five largest stablecoins are responsible for over 90% of aggregate stablecoin supply.

Tron , Ethereum , Solana , Polygon (POL), BNB Smart Chain (BSC) and TON are the most widely used blockchains for stablecoin issuance.

What is Ripple?

Ripple is a U.S.-based fintech company operating a global cross-border digital payments system. Launched in 2012 by blockchain innovators Chris Larsen and Jed McCaleb, Ripple aims to improve cross-border value transfers by using distributed ledger technology to reduce costs and latency compared to traditional banking networks like SEPA.

XRP Ledger (XRPL), a decentralized open-source blockchain designed to facilitate seamless asset transfers, is a key technical element of Ripple’s offering for B2B and B2C. XRPL supports both fungible and non-fungible tokens. Not unlike other programmable blockchains, XRPL can be used for DeFi, NFT and other applications.

One of Ripple’s standout products is its On-Demand Liquidity (ODL) service, which utilizes cryptocurrency to enable instant cross-border payments by sourcing liquidity in real time. ODL is a key innovation that supports faster, more cost-effective transactions compared to traditional methods.

Ripple has established ODL payment corridors across multiple regions, including Asia-Pacific, Latin America and Europe. In recent years, Ripple is expanding to new markets, including Japan, via its local subsidiary SBI. Also, Moneygram, one of the world’s largest digital money processors, was Ripple’s partner in 2017-2021.

Since the year of 2020, Ripple and its key officers Chris Larsen and Brad Garlinghouse have been sued by U.S. SEC for illegal securities offering in the form of cryptocurrency tokens.

What is XRP and why is it so popular?

XRP is the core native cryptocurrency of XRP Ledger, its gas asset and major governance coin. It is used as a fee crypto for every transaction on XRPL. It relies on XRP Ledger as a tech basis and is accessible on centralized and decentralized exchanges.

During the 2016-2017 bullish rally, XRP gained traction as one of the most popular altcoins thanks to its unbelievable profitability. Since then, XRP is aggressively supported by its passionate enthusiasts in social media, the so-called “XRP Army.” Representatives of XRP Army are using Bitrue centralized exchange, Bitso local LatAm fintech, Sologenic XRPL-based decentralized exchange.

During the legal battle between Ripple and the U.S. SEC, XRP was called unregistered security by the regulators. Meanwhile, the U.S. court ruled that XRP cannot be regulated and taxated as security.

XRP is also used as a validator reward cryptocurrency for XRP Ledger node operators from the Default Unique Nodes List (dUNL), a list of 33 validation entities responsible for processing transactions within XRP Ledger. Previously, the majority of them were controlled by Ripple, but now the blockchain operates as a decentralized entity.

XRP price in 2025: What to expect

XRP is the fourth largest cryptocurrency by market capitalization. Its net market cap exceeds $125 billion as of early January 2025.

Positive scenario

In the coming years, the XRP price can be catalyzed by the potential approval of an XRP ETF, an exchange-traded fund backed by spot XRP. The green light solution by the U.S. regulator might result in multiple ETFs launched by top-tier asset managers like Bitwise, Blackrock, ARK Invest and so on.

In January 2024, such products were approved for Bitcoin , while in July 2024 the first ETFs on spot Ether went live. By press time, 21 products with the net value of assets under management (AUM) over $113 billion are available for trading in the U.S.

To offer cryptocurrency-based ETFs, asset managers should purchase underlying assets, which creates additional buying pressure and results in increased asset prices.

Also, XRP would benefit from a final positive resolution in the Ripple v. SEC legal battle and an eased regulatory regime in the U.S. under the new administration.

Negative scenario

At the same time, by the moment of launch of potential spot XRP ETFs, the demand might already lose its steam. Spot ETH ETF launch in July 2024 attracted smaller attention compared to the Bitcoin ETF euphoria in January. As such, the next cohort of ETFs might be even less popular.

Also, XRP’s price performance in 2025 might be ruined by Ripple’s hypothetical loss in the legal saga with the SEC. Also, old-school altcoins are typically less volatile compared to new ones, which makes the first type less attractive for high-risk investors.

RLUSD stablecoin by Ripple: Comprehensive guide

The launch of Ripple USD (RLUSD), a new-gen centralized stablecoin by one of the largest U.S. fintechs Ripple, was among the most notable milestones for the entire global Web3 ecosystem in 2024.

RLUSD stablecoin: Basics

Ripple USD (RLUSD), a U.S. dollar-backed stablecoin by fintech decacorn Ripple, was launched on mainnet Dec. 17, 2024. It is the first stablecoin by Ripple, which is among the most influential players of the global cross-border remittances market. RLUSD is able to fuel numerous use cases in B2B and B2C segments for individuals and corporations.

The initial release of RLUSD is live on two blockchains, Ethereum, the largest programmable blockchain, and XRP Ledger, a Ripple-linked high-performance blockchain and tech basis for XRP. As such, RLUSD can already be used in decentralized finance (DeFi) mechanisms on both blockchains with no need for Ripple’s approval.Ripple">

RLUSD is an example of a fully regulated stablecoin as its launch was approved by New York Department of Finance Services, a U.S. regional fintech watchdog agency. RLUSD operates in accordance with a New York Trust Company charter, which gives Ripple one more regulated instrument for its financial services.

Ripple USD (RLUSD) stablecoin is 1:1 pegged to the U.S. dollar price; Ripple guarantees the reliability of this peg. Via Ripple’s fully owned subsidiary, RLUSD is fully backed by a diversified portfolio of U.S. dollar deposits in partner banks, government bonds and cash equivalents.

RLUSD stablecoin: Tech design

RLUSD is a cryptocurrency coin (digital blockchain cash equivalent) that is minted (issued) on top of two blockchains. It means that the transactions in Ripple USD (RLUSD) can be handled by two decentralized networks with different sets of validators, which makes the stablecoin attack-resistant.

On the Ethereum blockchain, Ripple USD stablecoin exists as an ERC-20 compliant token. The ERC-20 (“Ethereum requests for comment”) design includes standard imported functions from OpenZeppelin and specific functions written by Ripple engineers. It means that RLUSD on Ethereum is a regular Ether-based token, but with some extra functions. The Ripple USD stablecoin is activated on the Ethereum Mainnet and Sepolia Testnet.

In order to avoid being scammed, users should keep in mind that only two tokens (mainnet and testnet) are real RLUSD, while others are blatant scams:

Mainnet Ethereum RLUSD contract: 0xCfd748B9De538c9f5b1805e8db9e1d4671f7F2ec

Sepolia Testnet RLUSD contract: 0x866386C7f4F2A5f46C5F4566D011dbe3e8679BE4.

On XRP Ledger (XRPL), the primary blockchain for Ripple’s business activity, the Ripple USD (RLUSD) stablecoin also works on the testnet and main network simultaneously.

Mainnet XRPL RLUSD Issuer account: rMxCKbEDwqr76QuheSUMdEGf4B9xJ8m5De

Testnet XRPL RLUSD Issuer account: rQhWct2fv4Vc4KRjRgMrxa8xPN9Zx9iLKV

In order to avoid being lured into buying fake RLUSD, cryptocurrency traders, investors and developers might double check the token data via public explorers or, for tech savvy users, via the command line interface for the corresponding blockchains.

RLUSD stablecoin: Legal status

Unlike the majority of stablecoin assets, Ripple USD (RLUSD) was launched with preliminary regulatory approval. The documents for RLUSD were submitted to the New York Department of Financial Services (NYDFS) in July 2024 by Ripple Labs.

The U.S. regulator green-lit the issuance of RLUSD under the New York Trust Company charter. Both the stablecoin itself and Ripple Labs’ authority to issue it were fully approved by U.S. government agencies, which makes RLUSD stand out in the stablecoin landscape globally.

With 100% regulatory approval in non-offshore jurisdiction, RLUSD is ready to be listed by exchanges globally. This is of paramount importance given the increased regulatory pressure that makes exchanges delist unregulated stablecoins.

Also, with an explicit regulatory approval in store, RLUSD can be used for cross-border transfers by corporations not unlike other digital cash equivalents. Asset managers will also be using regulated stablecoins with no limits as these currencies can be taxated and included in reserve balances.

While the exact schedule of audits for RLUSD is yet to be determined, Ripple Labs already informed about its plans to publish reserve attestations by third-party accountants monthly.

RLUSD stablecoin: Listings

To ensure a strong liquidity inflow, from the very beginning of its operations, RLUSD is listed on a clutch of high-reputed cryptocurrency exchanges. Ripple Labs scored partnerships with Uphold, MoonPay, B2C2, Keyrock, CoinMENA, Archax, Bitso, JST Digital, MB and Independent Reserve.

Also, the talks are underway with Bitstamp, Bullish, ZeroHash, FlowDesk and a number of other Tier 1 and Tier 2 exchanges.

As demonstrated by CoinMarketCap and CoinGecko, two leading cryptocurrency price trackers, RLUSD is also available on Mercado Bitcoin, a LatAm-centric cryptocurrency payments and exchange platform, and Sologenic, a flagship XRPL-based decentralized crypto exchange (DEX).

On Bullish, a Peter Thiel-backed crypto platform, RLUSD is available in pairs with USDC, Bitcoin , Ethereum , Solana and XRP. On Bitso, users can trade RLUSD against Mexican Peso (MXN), while on Independent Reserve, RLUSD/SGD and R pairs are active.

On Sologenic, RLUSD can be traded in pairs with XRP, COREUM and SOLO, Sologenic’s native utility and governance cryptocurrency.

As of early January 2025, the RLUSD net supply is capped at $72 million, while the process of minting is still underway. As such, it is the 697th largest cryptocurrency and the 35th biggest stablecoin by capitalization, exceeding the caps of Gemini Dollar and Celo Dollar (CUSD).

RLUSD stablecoin: Killing features and use cases

RLUSD by Ripple demonstrates a number of advancements that make it special compared to other USD-pegged stablecoins:

• Regulated from day one. As the first NYDFS-regulated stablecoin, RLUSD has an advantage over decentralized, unregulated and offshore-regulated assets in terms of compliance with various regulatory frameworks.
• Multi-blockchain. RLUSD is running on both Ethereum and XRP Ledger (XRPL), which makes it more flexible and adjustable when it comes to listings and integrations.
• Backed by a solid financial institution. After Paypal with its $535-million PYUSD stablecoin, Ripple is the second fintech major to have its own stablecoin venture.

This combination of features makes RLUSD the perfect choice for various use cases in B2B and B2C segments:

• Fast payments, including daily money transfers. RLUSD on Ethereum and XRP Ledger is suitable for both business and peer-to-peer payouts.
• Cross-border money transfers. RLUSD can be integrated for settlements as an on-ramp for bringing fiat on-chain and for derivatives markets.
• DeFi on XRPL and Ethereum. RLUSD is the first major stablecoin in the XRP Ledger ecosystem, which makes it a unique one for trading and liquidity providing.

At the same time, Ripple Labs stressed multiple times that RLUSD will never replace XRP in payment solutions by the company.

Wrapping up: What makes RLUSD special in 2025?

RLUSD or Ripple USD is a U.S. dollar-pegged stablecoin by Ripple, a fintech heavyweight. It was launched in December 2024 on XRP Ledger and Ethereum and is 1:1 backed by Ripple subsidiary’s reserves.

Since its first day, RLUSD has been approved by NYDFS: Its operations are regulated in accordance with New York Trust Company charter. In its first releases, the RLUSD market cap exceeded $72 million. Ripple USD (RLUSD) has already landed on a number of centralized crypto exchanges, including Bullish, Independent Reserve, fintech platforms Bitso and Mercado Bitcoin and Sologenic, the first XRPL-based DEX.

In 2025, Ripple is going to actively develop RLUSD, increase the scope of its integrations, grow its capitalization and announce new listings. These factors might be contributing to XRP price growth.

Dogecoin started a fresh increase above the $0.350 zone against the US Dollar. DOGE is now consolidating and might climb further if it clears the $0.3650 resistance.

• DOGE price started a fresh increase above $0.3420 and $0.350.
• The price is trading above the $0.350 level and the 100-hourly simple moving average.
• There was a break above a connecting bearish trend line with resistance at $0.3350 on the hourly chart of the DOGE/USD pair (data source from Kraken).
• The price could continue to rise if it clears the $0.3650 and $0.3720 resistance levels.

Dogecoin Price Rises Steadily

Dogecoin price started a fresh increase after it cleared the $0.320 resistance zone, like Bitcoin and Ethereum. DOGE was able to clear the $0.3420 and $0.350 resistance levels.

Besides, there was a break above a connecting bearish trend line with resistance at $0.3350 on the hourly chart of the DOGE/USD pair. The pair surpassed the 76.4% Fib retracement level of the downward move from the $0.3478 swing high to the $0.3096 low.

Dogecoin price is now trading above the $0.350 level and the 100-hourly simple moving average. It is also above the 1.236 Fib extension level of the downward move from the $0.3478 swing high to the $0.3096 low.

Immediate resistance on the upside is near the $0.3650 level. The first major resistance for the bulls could be near the $0.3720 level. The next major resistance is near the $0.380 level. A close above the $0.380 resistance might send the price toward the $0.3920 resistance. Any more gains might send the price toward the $0.40 level. The next major stop for the bulls might be $0.420.

Another Decline In DOGE?

If DOGE’s price fails to climb above the $0.3650 level, it could start another decline. Initial support on the downside is near the $0.3550 level. The next major support is near the $0.3460 level.

The main support sits at $0.3380. If there is a downside break below the $0.3380 support, the price could decline further. In the stated case, the price might decline toward the $0.3120 level or even $0.3080 in the near term.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level.

Major Support Levels – $0.3550 and $0.3460.

Major Resistance Levels – $0.3650 and $0.3800.