Coin360 Weekly Dispatch | Crypto Market Updates & Highlights | January 11 - 17, 2025

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Crypto Weekly Recap

Bitcoin:

• Weekly performance: +13%
• US Spot BTC ETFs: +$887.15M
• BTC price remained bearish until Tuesday due to market anxiety, a stronger US dollar, and rising Treasury yields.
• Global crypto investment products had $48 million in net inflows last week but faced $940 million in outflows later due to strong macro data and the Fed’s hawkish stance.
• Bitcoin dropped to $88,900, its lowest since November, on Monday. Analysts noted this January dip aligns with post-halving year trends.
• BTC price rebounded to $97,300 on Tuesday after US PPI data came in below expectations, easing risk-asset traders' concerns.
• Bullish CPI data and Trump-related policy optimism ahead of his inauguration improved market sentiment, boosting BTC price. Rumors suggested the U.S. government might announce a strategic Bitcoin reserve by next Monday. Meanwhile, Scott Bessent, Trump’s Treasury Secretary nominee, opposed a US central bank digital currency (CBDC), deeming it unnecessary.
• Positive sentiment drove BTC price to $105,000 by Friday.
• BlackRock highlighted Bitcoin's adoption, reaching 300 million users in 12 years, outpacing the internet and mobile phones.
• More firms bought BTC this week, and more governments started adopting crypto in their policies.
• Fed's Waller hinted rate cuts could occur this year if inflation data stays favorable, with up to four cuts possible and one in March not ruled out.
• Matt Hougan of Bitwise called corporate Bitcoin acquisition, led by MicroStrategy, an "overlooked megatrend" that could elevate the market in 2024.
• Analysts warned a potential Bank of Japan rate hike could unwind the yen carry trade, impacting global liquidity and Bitcoin.

Ethereum:

• Weekly performance: +6.32%
• US Spot ETH ETFs: +$188.10M
• Ethereum struggled to maintain momentum, failing to break the $3,500 mark as large holders sold off.
• Ethereum whales sold holdings at a loss, including 10,070 ETH for $33 million at $3,280, losing $1 million. Justin Sun also moved $320 million worth of ETH to HTX in one day, totaling $1.1 billion since November.
• ETH supply increased by 45,000 ETH monthly, nearing pre-merge levels.
• Bearish trends and market slumps pushed ETH below $3,000 on Monday.
• ETH recovered later, surpassing $3,400 twice but failing to break $3,500.
• Whale activity rose as addresses holding 1,000+ ETH hit an 11-month high, signaling long-term confidence.
• Market sentiment improved as Wintermute's OTC trade volume surged 313% in 2024, driven by institutional demand, outpacing the market's 142% growth.
• Ethereum developers plan to launch the Pectra mainnet upgrade in March 2025, introducing account abstraction, wallet enhancements, and increasing the validator stake limit from 32 ETH to 2,048 ETH.
• AI tokens suffered early-week losses but rebounded strongly later.
• Trump reportedly supported a US crypto reserve, boosting prices for assets like XRP and SOL.
• In Q4 2024, 46% of crypto venture funding went to US startups, with pro-crypto Trump policies expected to drive further investment.
• Nate Geraci predicted at least 50 new crypto ETF launches in 2025. After her comment, Litecoin gained attention as Canary's amended S-1 filing boosted confidence in a potential Litecoin ETF.

Altcoins:

• US government ordered return of 2016 hack funds to Bitfinex.
• BlackRock launched the iShares Bitcoin ETF on Cboe Canada.
• Coinbase introduced Bitcoin-backed loans through its partnership with Morpho.
• Mudrex paused crypto withdrawals for compliance upgrades.
• Nodepay announced a 11.5% token supply airdrop.
• OpenSea email leaks resurfaced, affecting 7 million users, sparking industry alarm.
• Bankless faced criticism for an alleged AICC pump-and-dump on Solana.
• The US, Japan, and Korea issued a "strong warning" against DPRK cyber theft.
• Celestia's blob sizes surged 10x amid rising transactions and NFT activity.
• Crypto laundering hit $1.3 billion in 2024, a 280% increase, according to PeckShield.
• Coinbase added PNUT support on Solana and included TOSHI in its listing roadmap.
• TikTok dismissed Elon Musk acquisition rumors ahead of a potential US ban.
• Sony launched its L2 blockchain, Sonieum.
• Bubblemaps announced a token launch on Solana.
• Solana's stablecoin supply reached $5.89 billion, its highest in two years.
• Crypto AI agents' market cap rose 220% in Q4 2024, reaching $15.4 billion.
• Huione Group launched a censorship-resistant stablecoin despite concerns about its subsidiary.
• The SEC sued Elon Musk for disclosure failures regarding Twitter stock.
• AI tokens surged after Franklin Templeton claimed they would "revolutionize" social media.
• LayerZero released a high-performance blockchain-optimized database.
• Coinbase revealed 90% of reviewed crypto assets failed to meet listing standards.
• Aethir expanded its GPU network with EigenLayer, offering new staking opportunities.
• Arweave uploaded data onto a lunar lander, designed to last for thousands of years.
• WLFI clarified a $60 million ETH movement amid sell-off rumors linked to Trump.
• The SEC sued Elon Musk over untimely disclosure of his Twitter ownership.
• Justin Sun launched USDD 2.0 with a 20% APY, citing abundant reserves.
• The SEC filed an appeal claiming a district court's Ripple ruling was flawed.
• Burwick Law targeted Pump.fun for legal action.
• The UAE Tax Authority announced VAT on crypto mining services.
• Bitget's report revealed 20% of Gen Z and Alpha view crypto as a retirement alternative.
• eToro filed for a US IPO targeting a $5 billion valuation.
• Telegram malware scams spiked 2000% in two months, Scam Sniffer reported.
• Pyth Network introduced Lazer, an oracle for latency-sensitive crypto applications.
• Orbiter Finance disclosed OBT token details, planning an airdrop on Inauguration Day.
• A Multicoin proposal sought to reduce SOL inflation and move to market-driven emissions.
• DWF Labs partnered with NEAR Protocol to develop AI agents.
• Yat Siu-backed Open Campus launched the EDU Chain, a layer-3 solution, on Arbitrum.
• Coinbase’s Base targeted $100 billion valuation and 25 million users by 2025.
• Crypto.com pledged $1 million for Los Angeles wildfire relief.
• SoSoValue announced a 49-million-token airdrop for its first season.
• AI agents are coming to Bitcoin through Merlin Chain and ElizaOS integration.
• AAVE planned Bitcoin mining to stabilize GHO.

Trump’s Pro-Crypto Policies Shape U.S. Regulation

As the cryptocurrency landscape evolves, regulatory actions and political shifts in the U.S. reflect a significant push towards embracing digital assets. On January 20, 2025, President-elect Donald Trump will prioritize crypto policies, including a strategic Bitcoin reserve with a $21 billion allocation, supported by SEC Chair Paul Atkins. New Hampshire and North Dakota are introducing legislation for Bitcoin reserves. FDIC Vice Chair Travis Hill seeks to eliminate restrictions on banks' crypto involvement. Trump's administration is forming a crypto advisory council to draft pro-crypto legislation. Notable events include the $1 million donation from Circle and an upcoming “Inaugural Crypto Ball.” Simultaneously, Senator Elizabeth Warren calls for stricter regulations, reflecting the ongoing tension between innovation and regulatory oversight in the crypto space.

Corporate Giants Embrace Bitcoin Strategies

The corporate landscape is increasingly adopting Bitcoin and cryptocurrency, with significant moves from major companies reflecting growing institutional interest. As of January 13, 2025, MicroStrategy holds 450,000 BTC, valued over $40 billion, reflecting significant acquisitions amidst market fluctuations. The company recently purchased 2,530 BTC at an average of $95,972. Genius Group has strengthened its "bitcoin first" strategy with 372 BTC valued at $35 million, committing to allocate 90% of reserves to Bitcoin, targeting $120 million total. It aims to raise $33 million through a rights offering. Meanwhile, Semler Scientific expanded to 2,321 BTC, and Intesa Sanpaolo made its first Bitcoin purchase of €1 million, indicating increasing corporate interest in cryptocurrency.

Crypto ETFs Gain Momentum Amid SEC Delays

Recent developments in the cryptocurrency ETF landscape reveal significant regulatory actions and new product offerings aiming to enhance market participation and accessibility. On January 15, 2025, the SEC delayed Bitwise’s 10 Crypto Index ETF decision to March 2025, reflecting cautious regulatory moves, while Osprey Funds filed for a spot Bitcoin ETF. Osprey’s Bitcoin Trust manages $181M, and its shares rose 151% in the past year. On January 16, 2025, Canary Capital advanced its Litecoin ETF application with amended S-1 filings and custodial upgrades via Coinbase and BitGo. Market optimism grew as Litecoin’s price surged 15% amid $29M in whale accumulation. Analysts predict over $14B in potential altcoin ETF investments as SEC leadership shifts pro-crypto, benefiting altcoins like Litecoin.

Crypto Sector Sees Major Mergers and Acquisitions

This week, significant mergers and acquisitions in the crypto sector emerged, highlighted by MoonPay's acquisition of Helio for $175 million to enhance payment services. Chainalysis acquired AI startup Alterya for $150 million, strengthening fraud prevention capabilities. Sigma Capital launched a $100 million fund, with $40 million pre-committed. Deribit explored acquisition offers valuing it between $4-$5 billion amid market resurgence. Komainu secured $75 million in Bitcoin from Blockstream for expansion, while Phantom raised $150 million in Series C funding, doubling its valuation to $3 billion. Sygnum also raised $58 million, achieving a valuation over $1 billion, signaling robust industry growth.

Crypto Regulation Shifts with Court Rulings and Settlements

Ongoing shifts and challenges in the evolving crypto regulatory landscape emerged this week. Coinbase won a court ruling against the SEC, criticizing the agency's ambiguous regulatory stance on crypto assets. Robinhood agreed to a $45 million settlement for SEC violations, including inaccurate trading reports and poor cybersecurity, while Binance faces a class-action lawsuit over unregistered token sales. Tether relocated to El Salvador after obtaining a digital asset license, emphasizing financial freedom. The CFTC is investigating Crypto.com's Super Bowl betting futures contracts, and Upbit in South Korea was suspended for over 700,000 KYC violations. 

FTX to Begin $1.2B Creditor Payouts

FTX is set to distribute over $1.2 billion to creditors beginning January 2025, specifically targeting “convenience class” creditors with claims up to $50,000. Creditors must complete pre-distribution requirements by January 20, 2025, coinciding with Donald Trump’s inauguration. Under the approved plan, creditors will receive 119% of their asset value based on cryptocurrency prices at bankruptcy. While some view this as a positive step, critics highlight potential missed gains since Bitcoin's price has increased significantly. Kraken and BitGo will facilitate the payments, aiming to restore investor confidence post-FTX’s collapse and streamline distribution processes for around 1,500 creditors.

Animecoin Launch Targets Web3 Anime Fans

Animecoin's upcoming ANIME token launch, scheduled for January 2025, features a total supply of 10 billion tokens. Of this, 50.5% is allocated for community engagement, with 37.5% reserved for the Azuki NFT community and 13% for AnimeDAO initiatives. The Azuki team receives 7.44%, and early contributors share 15.62%, both with vesting schedules. The Animecoin Foundation retains 24.44%, while 2% is set for strategic partners. The project aims to unify the global anime fandom through Web3 integration, empowering fans to transition from passive consumers to active contributors in a decentralized creative economy.

Tether’s USDT0 Debuts on Kraken’s Layer 2

Tether has launched its cross-chain USDT0 stablecoin on Kraken's Ink Layer 2, aiming to create a unified liquidity layer for easier USDT transfers across the crypto ecosystem. Utilizing LayerZero’s Omnichain Fungible Token standard, USDT0 enhances liquidity and usability. Since CEO Paolo Ardoino took over in 2023, Tether has focused on innovation, including Bitcoin mining and AI research. Kraken, embracing a startup mindset under co-CEO Arjun Sethi, has accelerated development of Ink, which launched in December 2024. The collaboration aims to improve user experience and transaction efficiency for stablecoin users on multiple blockchains.

Top Weekly Altcoin Gainers and Losers

Gainers:

Fartcoin FARTCOIN (+86.53%)

XDC Network XDC (+86.25%)

Ripple XRP (+42.48%)

Hedera HBAR (+37.10%)

Flare FLR (+36.43%)

Losers:

Mantle MNT (-3.58%)

MANTRA DAO OM (-2.54%)