Bitcoin DeFi Skyrockets, Trump Plots Crypto Revolution, and XRP’s Unseen Surge: What’s Next?

Today, significant developments unfolded in the crypto world, marking a breakthrough year for Bitcoin-based decentralized finance (DeFi) applications. A Bloomberg report highlighted that after the April halving, the industry’s total value locked (TVL) surged by over 2,000% in 2024, rising from $307 million in January to more than $6.5 billion by the end of the year. This remarkable growth is attributed to advancements in infrastructure and soaring Bitcoin prices, including the launch of the staking and restaking platform Babylon, which now controls over 80% of the TVL in BTCFi.

In the political arena, President-elect Donald Trump is reportedly planning an executive order to prioritize cryptocurrency as a national policy. Scheduled for potential release upon taking office on January 20, the order aims to steer regulatory agencies to collaborate with the crypto industry and possibly establish a council to advocate for industry policies.

Meanwhile, XRP is experiencing a notable surge, entering price discovery for the first time since 2017. Following a streak of three consecutive green monthly candles, XRP’s price reached a new all-time high on select exchanges. The altcoin’s open interest hit an unprecedented $7.9 billion, with futures volumes doubling, despite the futures market not being the primary driver of this growth. This 300% increase in open interest since January 1 suggests XRP’s rising prominence in the market.