ETH, CRO, FLOKI price update as Tether posts $13B profit

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Written on Jan 31, 2025

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The crypto market cap was around $3.58 trillion as Bitcoin hovered near $102k.
ETH price retreated from highs of $3,437 despite World Liberty $10 million ETH purchase.
FLOKI rose to rank among top gainers.

The global crypto market cap stands around $3.58 trillion, down by 0.13% in the past 24 hours at the time of writing.

Daily trading volume for the entire market fell 22% to around $107 billion in this period.

According to CoinMarketCap, Bitcoin dominance was at 57.9% while the Fear and Greed Index hovered at 54 to indicate a neutral market sentiment.

Crypto notched nearly $1 billion in liquidations earlier in the week.

However, Coinglass data shows total liquidations across the market were down 22% to around $211 million.

Tether reports $13 billion net profit

On Jan. 31, stablecoin issuer Tether, whose USDT is the largest in the market at over $139 billion, reported a massive profit for the year 2024.

Tether’s attestation for Q4, 2024 shows the company recorded $13.7 billion in profit for the past year and $6 billion for Q4.

Per the report, Tether has $113 billion in direct and indirect holdings, with $7 billion in excess stablecoin reserves.

Paolo Ardoino 🤖🍐

@paoloardoino

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Tether just released the attestation for Q4 2024. Highlights as of 31st December 2024: – $13.7 billion profit for year 2024 – ~$6 billion profit for Q4 2024 – $113 billion in direct and indirect holdings – $7 billion in Tether’s excess stablecoin reserves (36% increase YoY),…

6:12 pm · 31 Jan 2025

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Positive news for the USDT issuer is that various crypto exchanges announced the delisting of the stablecoin for non-compliance in the EU after MiCA.

Price update: ETH, CRO, FLOKI

ETH price

The crypto market is looking to end January on a positive note after Bitcoin (BTC) witnessed a sharp drop to below $98k before rebounding.

However, with BTC struggling to break past $106k and Ethereum (ETH) constrained below $3,500, it’s the small-cap tokens that are showing notable gains.

Ethereum price rose to highs of $3,437, gaining by more than 5% at one point.

This came likely as on-chain data showed World Liberty Financial had purchased $10 million of ETH.

However, the price is back below $3,350 and hovers near the $3.3k level. Open interest for ETH is $32.9 billion.

CRO, FLOKI price

FLOKI, one of the meme coins to struggle in recent months, rose more than 10% to $0.0001448 before shedding the gains as BTC, and ETH also traded lower.

The token rose as Coinbase announced support for Gigachad (GIGA), Turbo (TURBO), and FLOKI for New York residents.

Cronos (CRO), the native token of the Cronos chain by Crypto.com, was down 1.3% despite a major integration with LayerZero.

Cronos Labs announced earlier that LayerZero was live on Cronos EVM and Cronos zkEVM, enabling interoperability with 115 blockchains.

This includes Ethereum and Solana.

The CRO price hovered around $0.13 but could flip bullish amid the positive network development.