Coin Metrics Week in Review | January 13 - January 19, 2025

Happy Monday! Here’s a look at the latest industry updates and Coin Metrics highlights for the week ending January 19th. The crypto market continues to evolve with groundbreaking developments. In State of the Market, we explore Bitcoin’s surge to $99K, BlackRock ’s iShares Spot Bitcoin ETF launch, Tether.io ’s relocation to El Salvador, 索尼 ’s innovative Soneium Layer 2 solution, and Nubank ’s USDC rewards program driving stablecoin adoption in Latin America. Meanwhile, in State of the Network, we reflect on 2024’s transformative impact on the cryptoasset ecosystem and outline key trends shaping 2025, including Bitcoin’s projected rise, Ethereum’s resurgence, stablecoin market expansion, and the growth of tokenized real-world assets. Dive into the latest insights defining the crypto industry!

If you'd like to get State of the Market in your inbox, subscribe here.

In our 204th issue of State of the Market, we examine a week of dynamic developments, with the digital asset market showcasing resilience and innovation across multiple fronts. Bitcoin's surge, groundbreaking institutional moves, and advancements in blockchain technology highlight the evolving landscape. Dive into the latest insights shaping the crypto ecosystem.

Here are the top takeaways:

• Bitcoin Soars to $99K Amid Economic Shifts: A surprising drop in the U.S. Core CPI fueled Bitcoin's rally, with MicroStrategy acquiring 2,530 BTC for $243 million, continuing its buying streak for the tenth consecutive week.
• BlackRock Launches iShares Spot Bitcoin ETF: The introduction of IBIT on CBOE Canada strengthens Bitcoin’s institutional infrastructure in North America, signaling growing mainstream acceptance.
• Tether Moves Headquarters to El Salvador: After obtaining a digital asset service provider license, Tether's relocation bolsters El Salvador’s reputation as a crypto-friendly hub.
• Sony Unveils Soneium on Ethereum: This specialized Layer 2 solution for entertainment applications expands Ethereum’s capabilities but sparks debates on censorship and user control.
• Nubank Introduces USDC Rewards Program: Latin America's largest digital bank launches a 4% annual return program for USDC holders across Brazil, Mexico, and Colombia, highlighting stablecoin adoption in the region.

Read State of the Market

If you'd like to get State of the Network in your inbox, subscribe here.

In the 294th issue of State of the Network, we published our 2025 Outlook Report reflecting on the transformative developments of 2024 and looking ahead to the opportunities and challenges shaping the crypto industry in 2025. From Bitcoin’s record-breaking performance to the growth of stablecoins and the rise of tokenized assets, the digital asset ecosystem is poised for significant evolution. Dive into our key takeaways to navigate the trends and outlooks defining the year ahead.

Key Takeaways:

• Bitcoin’s Continued Ascent: Bitcoin is projected to test the $140K–$170K range in 2025, driven by ETF inflows, corporate adoption, and reduced supply following its four-year halving.
• Ethereum’s Resurgence: Ethereum is expected to reach $7,500–$10,000 as institutional demand rises, Layer-2 ecosystems mature, and its dominance in DeFi and stablecoin markets continues.
• Layer-1 and Layer-2 Innovations: Advancements in Layer-1 blockchains beyond the EVM and increased use of blob space for Ethereum scalability will redefine infrastructure efficiency and affordability.
• Stablecoin Market Expansion: Stablecoin supply is anticipated to surpass $400B, with settlement volumes exceeding $20T, fueled by legislative clarity, new issuers, and broader adoption in payments and financial services.
• Real-World Asset (RWA) Tokenization Growth: The RWA market is predicted to double, with institutions leveraging blockchain for accessible capital and liquidity. A publicly traded company may tokenize shares on-chain, marking a significant milestone.
• Cautious Optimism for 2025: While the outlook is positive, risks like inflation, regulatory uncertainty, and potential shifts in corporate Bitcoin strategies could pose challenges to the industry’s growth.

Source: Coin Metrics Market Data Feed

Read the 2025 Outlook Report

Introducing Precog by Coin Metrics

Earlier this week, we announced the launch of Precog, a revolutionary subnet on Bittensor that delivers high-frequency Bitcoin price forecasts using decentralized AI. Built on Coin Metrics' trusted data and Yuma 's (a subsidiary of DCG ) innovation, Precog sets a new standard in crypto market intelligence.

Read the Full Announcement

Get in Touch

As always, we'd love to hear your questions or feedback. If you are interested in getting more details, please don't hesitate to get in touch.

Want these updates delivered straight to your inbox? Sign up for our mailing list.

Until next week,

The Coin Metrics Team