By Frank Martin (MoneyAmped.com)
Lunar New Year, a significant cultural event in Asia, brings positive effects on the crypto markets, with onchain observers noting increased trading during Asian sessions. Additionally, snake-themed meme coins usually enter the market as celebrations go on. Crypto exchanges also reward users with ‘digital red packets.’
In 2025, the Lunar New Year begins on January 29th, and so far, it appears that history is repeating itself, given that serpent-inspired meme coins are flooding the market and exchanges continue to reward customers. Moreover, trading activity has surged massively in Asian hours.
On Tuesday, trading volume in the Bitcoin market rose 14% during the Asian session, according to data from IntoTheBlock. In addition, that volume is up 46% in the past seven days.
Bitcoin’s Performance in Lunar New Year
January has historically been the second-worst month for Bitcoin, averaging a 1% loss over the past ten years. However, according to Matrixport, BTC tends to erase January losses in February, with the digital asset service company reporting monthly average gains of 14%.
Further, analysts at Matrixport have noted that Bitcoin rallies at least 5% during Lunar New Year celebrations and 20% or more ten days after the event ends. If the trend repeats itself this year, Bitcoin could surge to $120,000.
It is worth highlighting that BTC took a hit on January 27th, dropping below the $100,000 psychological support for the first time since American pro-crypto President Donald Trump returned to the White House. The drop came after a Chinese AI project, DeepSeek, rose to fame, prompting fear among investors who thought China would overthrow the US in the artificial intelligence race.
Top Meme Coins Inspired by Serpents This Lunar New Year
Around this time last year, the introduction of Bitcoin exchange-traded funds (ETFs) in the US markets following the Securities and Exchange Commission’s approval was the center of discussion. However, this year, investors have shifted their focus to meme coins, thanks to Trump’s move to launch his own token dubbed Official Trump two days before his inauguration.
As the hype around meme coins continues, creators have launched several tokens with serpent profile pictures this week to welcome the Lunar New Year. Some of the most traded serpent-inspired meme coins, according to DexScreener data, include Snake Wif hat, The Year of The Snake, SnakeofSolana, SnakeAI by Deepseek, and Wood Snake.
