Curious about today’s crypto updates? Discover the latest trends and events shaping Bitcoin prices, blockchain, DeFi, NFTs, Web3, and regulations.
Today in the crypto world, Axelar co-founder Georgios Vlachos predicts that the RLUSD stablecoin will increase demand for XRP.
Additionally, Ethereum liquid restacking protocols experienced a nearly 6,000% increase in their total value locked (TVL) in 2024 due to the significant growth in demand for staked asset utility.
Michael Saylor has also predicted that crypto miner MARA Holdings will be the next Bitcoin firm to join the Nasdaq 100.
Demand For XRP Is Expected To Increase As Result Of RLUSD
Georgios Vlachos, co-founder of the interoperability platform Axelar, anticipates that the demand for XRP will rise as the RLUSD stablecoin becomes more prevalent in 2025.
Vlachos stated in an interview with Cointelegraph that the majority of RLUSD transactions will occur on the XRP Ledger (XRPL) and the XRP EVM sidechain, both of which necessitate XRP for gas fees.
Stablecoins are still in high demand among crypto traders, who employ the tokenized fiat equivalents for decentralized finance activities and market speculation.
The use of dollar-denominated stablecoins as a store of value against the swiftly depreciating local currencies is also on the rise among residents of emerging market economies.
Ethereum Liquid Restaking TVL Escalates In 2024
The Ethereum network’s liquid restaking TVL was approximately $284 million on January 1, according to data from decentralized finance (DeFi) aggregator DefiLlama.
By December 15, that figure had increased by nearly 60 times, reaching $17.26 billion.
The utility of liquid restaking tokens (LRTs) may be the reason for the increase in liquid restaking.
The complexities of traditional Ether staking are simplified by these assets, which also enhance capital efficiency in DeFi.
Liquid restaking tokens (LRTs) are constructed upon the foundation of liquid staking tokens (LSTs).
In liquid staking, stakers who wish to preserve liquidity while engaging in network security are issued derivative tokens, such as stETH from Lido, that signify their staked holdings.
Holders are permitted to preserve the liquidity of their staked assets by employing these tokens in additional DeFi activities, such as trading, lending, or yield farming.
Saylor Anticipates That MARA Will Be “Next” Bitcoin Company To Enter Nasdaq 100
Michael Saylor, the founder of MicroStrategy and a proponent of Bitcoin, has predicted that crypto miner MARA Holdings will be the next Bitcoin company to join the Nasdaq 100.
“Thank you, Fred.” In response to MARA Holdings’ chairman and CEO Fred Thiel’s congratulations on MicroStrategy’s inclusion in the Nasdaq-100 Index, which was announced on Dec. 13, Saylor stated in a Dec. 14 X post, “I anticipate that $MARA will be the next.”
Before the trading day commences on December 23, MicroStrategy is anticipated to have joined.
“Congratulations to @saylor and $MSTR for becoming the first Bitcoin treasury company to join the Nasdaq 100,” Thiel stated.
Thiel stated that MARA is “dedicating significant effort to achieve this goal.”
According to a filing with the United States Securities and Exchange Commission on December 2, the crypto miner has spent over $600 million on Bitcoin in the past two months.
The company’s inclusion in the Nasdaq 100 indicates that it is one of the 100 largest on the Nasdaq in terms of market capitalization.
According to Financecharts data, MicroStrategy’s market capitalization ended the trading week on Dec. 13 at $94.77 billion. In the interim, MARA’s market capitalization was $7.32 billion.
