Hello SnapShotters,
On Monday, the day of the U.S. presidential inauguration, the BTC chart formed a ‘god candle’, as Bitcoin’s price shot past $109,000 for the first time. Expectations that President Donald Trump could create a U.S. Bitcoin reserve have likely led to the price jump.
The weekend before taking office, President Trump and his wife Melania also launched a pair of TRUMP and MELANIA meme coins, which temporarily shook the Solana chain but have since retreated in price.
While President Trump did not sign any crypto-relevant executive orders on his first day in office, he did appoint a crypto-friendly U.S. Securities and Exchange Commission (SEC) chair as Gary Gensler left office.
More details on that 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
📈 World Liberty Buys Crypto on Trump’s Day 1
World Liberty Financial, the DeFi project associated with U.S. President Donald Trump, acquired roughly $112.8 million worth of crypto — including ETH, wrapped BTC, Aave, LINK, TRX, and ENA — on Trump’s first day in office.
🇪🇺 Crypto.com Approved Under MiCA
Crypto.com has become the first major global crypto asset service provider to announce securing an in-principle approval of the Markets in Crypto-Assets Regulation (MiCA) license. This will enable the company to continue providing its range of crypto services across the European Union under the new regulatory framework.
🇺🇸 President Trump Signs Executive Order to Boost Crypto
This week, U.S. President Trump signed his first executive order focused on crypto. The order establishes an “internal working group to make America the world capital in crypto,” while also aiming to study the creation of a national stockpile of crypto and a regulatory framework for stablecoins.
🔎 Crypto Searches Are Trending
‘How to buy crypto?’ mentions have jumped on social media and in web searches, indicating potentially increased retail interest returning to the market. There were 495,000 mentions of ‘Bitcoin’ and 293,000 of ‘Ethereum’ on X during the third week of January.
🇨🇭 Swiss Bank Offers ETH Staking
Switzerland’s state-owned bank, PostFinance, is offering Ethereum staking to its 2.7 million customers. The service will be offered for a fixed minimum term of 12 weeks.
🇨 🇦 New Bitcoin ETF
BlackRock launched its Bitcoin ETF on the Canadian securities exchange, Cboe Canada, on January 13. Named iShares Bitcoin ETF, it will provide Canadian investors access to the company’s U.S. spot Bitcoin ETF, iShares Bitcoin Trust (IBIT).
🪙 BTC Goes Mainstream With Increased Adoption
Fund management company WisdomTree noted that portfolios with bitcoin allocations are consistently performing better than those without, and recommends asset managers add the digital coin to their funds as investors seek more exposure to crypto.
What’s Ahead
New Crypto-Friendly SEC Chair
President Donald Trump has picked Mark Uyeda, one of the U.S. Securities and Exchange Commission (SEC)’s top officials, to lead the agency until a permanent chair is confirmed.
Uyeda announced on Tuesday that the agency has created a crypto task force dedicated to “developing a comprehensive and clear regulatory framework for crypto assets,” led by Commissioner Hester Peirce, a long-time advocate for the crypto industry.
Number of the Week
Chart of the Week
In 2024, Bitcoin (BTC) ownership grew by 13.1%, from 298 million in January to 337 million in December, accounting for 51.2% of global crypto owners.
Research & Insights
Monthly Feature Article | Crypto Market Sizing Report 2024
Global cryptocurrency ownership increased by 13% in 2024, rising from 583 million in January to 659 million in December. In addition, there are likely 300,000 to 1.2 million people invested in BTC via U.S. spot exchange-traded funds (ETFs) in addition to the above estimates.
Read the full report.
Crypto Trivia
What is a ‘god candle’ on a cryptocurrency chart?
A) A sudden, significant drop in price
B) A prolonged period of price stability
C) A large, rapid price surge represented by a large, green candlestick
Find the correct answer at the end of this newsletter.
NFT Spotlight
Dropping on January 27 and “Inspired by the legendary Project Blue Book — the U.S. Air Force’s investigation into UFOs,” Cult Class’s latest NFT collection “unveils a series of never-before-seen evidence files that challenge what we know about extraterrestrial encounters.”
Each NFT in ‘Project Blue Book: The Hidden Archives’ showcases “a surreal, otherworldly image — possibly smuggled straight from the vaults of a forgotten government archive.” Cult Class, “known for her unique photorealistic, surreal collage art,” invites collectors “to uncover the secrets of life beyond, one piece at a time.
Are these works of art, glimpses of truth, or something even bigger?”
Settle on in and get cozy. This is some Cult Class stuff.
Product Updates
New Freedom Basket Added
To mark Donald Trump’s inauguration day, a new basket — Freedom — has been added to Crypto Basket. Purchase TRUMP, BTC, SOL, XRP, and DOGE at once, while enjoying automatic buy low, sell high by enabling auto-rebalancing. Diversify your portfolio now.
Win From a Prize Pool of $250,000+ When You Play Mane City
The much anticipated Loaded Lions Mane City’s World Series II: The Great War is finally within our sights. For this competitive season, we have the biggest starting prize pool yet — a whopping $250,000*. The Great War will last for a total of four weeks, from January 31, 2025, to February 28, 2025. Pick a side, start playing Mane City, and get ready for The Great War now!
*The USD value consists of both the estimated CRO and weighted average floor value of NFT rewards. The prize pool denominated in CRO is the price as of January 14, 2025, 00:00 UTC, at 0.1347 per CRO. The NFT rewards prize pool is calculated based on the weighted average price $9.60 as of January 14, 2025, 00:00 UTC, and is an estimated value of the new Trophy NFTs. The values indicated may fluctuate depending on the price of CRO and are subject to change. We reserve the right to cancel or amend the prize pool at our sole discretion without prior notice to you. Always do your own research (DYOR).
Fund Your Card With TRUMP and More
Cardholders can now fund their card with TRUMP and 100-plus tokens, including BTC, ETH, PEPE, and more. To view the full list of supported tokens, navigate to the ‘Card’ tab in the Crypto.com App and tap Top Up.
Crypto.com Exchange Launches in U.S. [US only]
This week, Crypto.com announced the launch of the Crypto.com Exchange in the United States, Crypto.com’s institutional-grade offering and the world’s leading USD-supporting cryptocurrency exchange by spot market volume.
New Token Listings
OFFICIAL TRUMP (TRUMP)
TRUMP is a Solana-based meme coin launched by President Donald Trump.
Melania Meme (MELANIA)
MELANIA is a Solana-based meme coin launched by first-lady Melania Trump.
Sonic (S)
Sonic is an EVM-compatible Layer-1 blockchain that provides up to 10,000 tps and sub-second finality. Sonic’s Fee Monetization (FeeM) program rewards developers with up to 90% of the fees their apps generate.
Animecoin (ANIME)
Animecoin aims to transform the global anime industry into a community-owned creative network, empowering fans to shape and own the future of anime.
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
The Basics of Trading Pairs
A cryptocurrency trading pair represents two different digital assets that can be exchanged for one another. Here’s how pair trading works:
Each trading pair has two components:
Base Currency: The first listed cryptocurrency (the asset you’re buying or selling)
Quote Currency: The second listed cryptocurrency (the asset you’re using for the transaction)
For beginners, high-liquidity pairs like BTC/USDT and ETH/USDT are often preferred thanks to their stability and predictable market behavior.
As you advance in trading, utilize price charts, trading volume, and market trends to find profitable pairs. Additionally, you can use strategies like stop-loss orders, position sizing, and risk-reward ratios to try and minimize losses and maximize profits.
Go beyond the basics in this beginner’s guide to trading pairs.
CryptoIRL
🏆 Crypto.com Takes Top Spot in the U.S. App Store
The Crypto.com App ranked first in the U.S. App Store’s finance category. The application rose up the charts after listing TRUMP, beating other trending programs like Moonshot.
Security Tips
Accountant Loses Retirement Money in Crypto Scam
An accountant lost $102,348 after falling victim to a Bitcoin investment scam she found on Facebook in July last year, just as she was nearing retirement. After joining an investment group, she was instructed to download an app to track her funds, on which the victim saw her balance grow to $1,219,907. However, when she tried to withdraw her earnings, the app asked her to pay a “management fee” of $122,347.
How to stay safe:
1. Do not invest more than you are willing to lose.
2. Be cautious of offers that sound too good to be true.
3. When trading or investing, stick to platforms regulated by financial authorities.
Crypto Trivia Answer
C) A large, rapid price surge represented by a large, green candlestick
That’s it for this week’s SnapShot. Want more? Find out what’s trending in the crypto world.
