Hello SnapShotters,
MicroStrategy increased its Bitcoin holdings for the tenth consecutive week, buying 2,530 tokens for $243 million. The company’s stack now sits at 450,000 bitcoins purchased at an average price of $62,691 each. MicroStrategy isn’t alone: Another 70 publicly traded companies now own Bitcoin on their balance sheets, with the number “poised to explode,” according to Bitwise’s CIO, who calls large corporations buying Bitcoin an “overlooked megatrend.”
Bitcoin is also trending in connection with Donald Trump’s upcoming U.S. presidential inauguration on Monday. Predictions on Polymarket are on whether Trump will say Bitcoin or Dogecoin in his inauguration speech, and there’s speculation on whether the new president will sign crypto executive orders on his first day in office.
More details below.
Market Spotlight
Note: Market prices captured in USD at the time of sending. Explore more on Crypto.com/Price.
Want more? Get weekly Market and DeFi Updates from Crypto.com’s Research Team.
News Snaps
🪙 XRP Price Jumps Over 40%
XRP surged over 40% in the last two weeks, as crypto whales “aggressively” accumulated the token. Speculation over the approval of a potential XRP exchange-traded fund (ETF) may have contributed to the price of the token reaching $3, its highest since 2018.
🇮🇹 Italy’s Biggest Bank Buys BTC
Italy’s biggest bank, Intesa Sanpaolo, has made its first proprietary Bitcoin purchase for 1 million euros (just over $1 million) in what CEO Carlo Messina called “a test.”
🦁 Crypto.com’s Exchange Volume on the Rise
Crypto.com’s monthly exchange volume increased by 14% in December 2024, amid a surge in trading activity across all centralized exchanges. Higher APAC activity suggests that crypto exchanges based in the region are poised to capture larger market shares.
🇸🇻 Tether Is El Salvador-Bound
Tether said it’s “about to complete all formalities” required to relocate to El Salvador, following the successful acquisition of a Digital Asset Service Provider (DASP) license.
🤖 AI Agents Surge
Prices of AI agent tokens like AI16Z and VIRTUAL surged in response to a report released by asset management firm Franklin Templeton. The AI-focused report predicted that AI agents would play a key role in overhauling the current entertainment industry.
Supporting Our Los Angeles Community
Our hearts are with those impacted by the tragic wildfires in Los Angeles, a core city to the Crypto.com community. We are committed to supporting our community, pledging $1 million to support efforts by heroic first responders in the City of Angels.
What’s Ahead
Could Trump Sign Crypto Exec Order on Day One?
U.S. President-elect Donald Trump’s first day back in the White House on January 20 could see him sign a flurry of executive orders — including some that affect crypto policy.
The Washington Post reported that Trump is expected to sign executive orders covering crypto de-banking and repealing a bank accounting policy that requires banks holding crypto to list the digital assets as a liability.
In addition, Republican Senator Tim Scott, chair of the U.S. Senate Banking Committee, said in a January 15 notice that developing a regulatory framework for digital assets would be one of the body’s priorities in the 119th Congress.
Number of the Week
Chart of the Week
The share of Bitcoin reserves held by U.S.-based entities was 65% as of January 6.
The U.S. to non-U.S. Bitcoin reserve ratio has seen a surge since September 2024, and currently sits at 1.65. The ratio measures Bitcoin holdings of entities, including MicroStrategy, ETFs, exchanges, miners, and the U.S. government.
Research & Insights
Monthly Feature Article | Alpha Navigator
Most assets saw a decline in December, with ETH leading the drop. On a yearly basis, crypto led the rise, with BTC and ETH increasing 77% and 37%, respectively. U.S., Eurozone, and Canada reduced interest rates; UK, Australia, China, and Japan kept rates unchanged.
Read the full Alpha Navigator on crypto market trends here.
Crypto Trivia
What best describes a retail buyer in the crypto market?
A) An individual trader who buys cryptocurrencies for personal holdings or use
B) A large organization managing cryptocurrency investments on behalf of clients
C) A beginner who cannot access crypto exchanges
Find the correct answer at the end of this newsletter.
NFT Spotlight
“What is it to be weird?” asks Spanish illustrator and graphic designer Buba Viedma. “We’re all weird in some way or another, although some may be weirder than others.” In Viedma’s latest quest to find the answer, “the weirdos rise up, bolder and ruthless than ever” in the next evolution of the ‘Weird People’ NFT series — ‘Weird People: The Weirdos Strike Back’.
Dropping on Monday, January 20, the non-generative collection of 100 unique characters celebrates “the strange, the eccentric, and the wonderfully terrifying,” all designed, drawn, and animated “by hand one by one” by Viedma. Each piece “captures their challenge to the norms, their bizarre rebellion, and their embrace of abnormality.”
This drop is an invitation “to those who dare to stand out and embrace their weirdness. Join the movement and become part of a community where the unusual is celebrated, and the extraordinary becomes the new standard.”
Welcome to a weird world. Full of weird people.
Product Updates
Get Your Loaded Lions x Blvck Merchandise Now
The Loaded Lions x Blvck merchandise can now be purchased directly from the Blvck website from now until January 27, 2025, 16:00 UTC, starting at$75. For more information on the retail prices, visit the Blvck website.
DeFi Lending
DeFi Lending is now live in the Crypto.com App, giving you another way to earn passive income.
You can now lend your assets on DeFi protocols and receive up to 2.74% interest with no term limits. The feature currently supports ETH lending on Aave, with more assets and protocols to come. Learn more here.
App Token Listings
aixbt (AIXBT)
An AI agent built on the Virtuals Protocol, aixbt is designed to provide users with strategic insights by leveraging AI to track and interpret cryptocurrency market trends.
DAR Open Network (D)
DAR Open Network is an action-adventure game that integrates both blockchain technology and NFTs into its gameplay.
Toshi (TOSHI)
Toshi is a meme coin named after Coinbase co-founder Brian Armstrong’s cat and the legendary creator of Bitcoin, Satoshi Nakamoto.
This is informational content only and should not be considered as an investment recommendation. Some Crypto.com products may not be available in some jurisdictions.
Crypto Learn
What Is an Ethereum Wallet?
Ethereum wallets are tailored for the Ethereum network and designed to enable users the ability to interact with the Ethereum blockchain. Unlike other crypto wallets, they offer more advanced features and support a wide range of Ethereum-based tokens.
You need an Ethereum wallet if you plan to:
- Buy, hold, or trade ETH
- Use Ethereum-based tokens like ERC-20 tokens or interact with ERC-721 tokens (NFTs)
- Interact with decentralized apps (dapps) on Ethereum
- Use smart contracts
- Participate in decentralized finance (DeFi) protocols
Explore our Ethereum Wallets article for an in-depth explanation.
CryptoIRL
Crypto.com is adding some blue hues to the New York Stock Exchange.
Security Tips
New York Job Seekers Found Crypto Scam Instead
Would you pay crypto to land a job? Some New Yorkers who did found themselves in the middle of a multimillion-dollar crypto scam. Upon receiving messages promising well-paying positions, victims deposited funds and reviewed products on fake websites. The crypto was eventually stolen.
How to stay safe:
- Be cautious of unexpected offers or job opportunities, especially those promising quick profits.
- Before engaging with any crypto platform or individual, thoroughly research them, check reviews, and confirm their authenticity.
- Be wary if a job requires you to pay up front for training or materials.
Crypto Trivia Answer
A) A retail buyer is an individual trader who buys cryptocurrencies for personal holdings or use.
That’s it for this week’s SnapShot. Want more? Find out what’s trending in the crypto world.
