FameEX Morning Crypto News Recap | January 3, 2025

US Dollar Index Reaches Two-Year High Amid Expectations of Gradual Fed Rate Cuts in 2025

On January 2, the U.S. dollar index climbed to a two-year high as markets anticipated cautious Federal Reserve rate cuts in 2025. Investors believe President-elect Trump’s proposed trade tariffs and tax cuts could fuel inflation, potentially restricting the Fed’s ability to pursue aggressive rate reductions.

Continued US Dollar Strength Could Put Future Pressure on Bitcoin

The Federal Reserve’s plan for just two rate cuts by 2025, combined with Trump’s proposed tariffs and growing geopolitical uncertainty, is boosting the U.S. dollar. As a safe haven, the dollar’s strength and higher yields are adding pressure on Bitcoin during volatile market conditions.

On-Chain Adoption Rate Expected to Reach 2021 Peak Levels in 2024

Dune founder @hagaetc stated that in 2024, on-chain adoption returned to 2021 levels, with transfer volumes and transaction counts reaching record highs. Blockchain adoption is approaching its previous peak, driven by significantly lower transaction costs.

Memecoin Market Value Soars 500% in 2024

In 2024, Memecoin’s market value soared 500%, rising from $20 billion in January to $120 billion by early December. It briefly peaked at $137 billion before dropping to $92 billion by year-end.

Bitfufu to Acquire 80,000 Mining Machines for Global Infrastructure Expansion

Nasdaq-listed Bitfufu has entered a two-year agreement with Bitmain to acquire up to 80,000 S-series mining machines, including S21 XP and S21 Pro models. The initiative targets adding 1 GW of mining capacity by 2026, boosting self-operated and cloud mining services with advanced, energy-efficient solutions.

X Money Nears Launch with Licenses Secured in 39 States

X Payments LLC is acquiring money transmission licenses across the U.S., with approvals secured in 39 states. A code screenshot stating “X Money is not available in your state” has fueled speculation that the platform may launch before obtaining licenses in all 50 states.

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