CoinDesk Podcast Network MARKETS DAILY: Crypto Update | Will 2025 Be the Year of More Custodians and More Competition?
Jan 2, 2025
Adam Morgan McCarthy, a Keiko research analyst, shares his insights on the future of the crypto market. He predicts potential trends for 2025, including Bitcoin's possible rise to $120,000 due to increased liquidity and new investment products. The conversation explores the impact of U.S. political events on market sentiment and the importance of custodians in building trust. McCarthy also highlights evolving narratives around altcoins and memecoins, emphasizing the influence of AI and regulatory clarity on their future.
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Bitcoin Price Catalysts
- Bitcoin's price rally might continue in January 2025, influenced by President Trump's actions.
- Potential catalysts include commuting Ross Ulbricht's sentence and other pro-crypto policies.
Custodian Competition
- Repealing the accounting standard SAB121 could increase custodian competition in the US crypto market.
- This could lead to more institutions like Nasdaq getting involved with crypto custody.
Crypto Trends 2025
- Increased competition in crypto custody is expected in 2025, potentially lowering Coinbase's market share.
- Clearer regulation on stablecoins and DeFi is needed to further boost the industry.