Welcome to our 204th issue of State of the Market, where we provide an overview of crypto market activity from January 9 – January 15, 2025.
This week in crypto markets:
- Crypto markets surged as BTC reached $99K, driven by an unexpected decline in the U.S. Core Consumer Price Index (CPI), easing inflation concerns.
- MicroStrategy acquired 2,530 BTC for $243 million at an average price of $95,972 per Bitcoin, marking its tenth consecutive week of purchases.
- Sony unveiled Soneium, a general-purpose Ethereum Layer-2 built on Optimism’s OP Stack to support gaming, finance, and entertainment applications, strengthening Ethereum’s scaling ecosystem.
- Nubank, Latin America’s largest digital bank with over 91 million customers, introduced a USDC rewards program offering 4% annual returns across Brazil, Mexico, and Colombia, supporting regional stablecoin adoption.
- Tether announced plans to relocate its headquarters to El Salvador after securing a digital asset service provider license, reinforcing the country’s position as a leading crypto-friendly jurisdiction.
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