Welcome to our 217th issue of State of the Market, where we provide an overview of crypto market activity from April 10 – April 16, 2025.
This week in crypto markets:
- Crypto markets stabilized with Bitcoin trading near $85K, supported by last week’s 90-day pause on non-China tariffs.
- Strategy acquired an additional 3,459 BTC ($285.8M), bringing total holdings to 531K BTC.
- Visa joined the Paxos-led USDG stablecoin consortium alongside firms like Robinhood, Kraken, and Galaxy Digital.
- International exchange OKX expanded into the U.S., launching in 46 states and naming a new U.S. CEO.
- The SEC approved options trading on spot Ethereum ETFs, including funds from BlackRock, Grayscale, and Bitwise.
- Mantra, a Layer-1 blockchain for real-world assets, saw its OM token crash over 90%, erasing more than $5B in market cap amid concentrated supply and thin liquidity.
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