Return-Path: <010001944b6a0ca4-21500cc7-5c1f-49e0-990b-6e72dccf6622-000000@amazonses.com> Delivered-To: rydia27@dodo.com.au Received: from mta653.syd.oss-core.net ([203.134.11.143]) by m611.int.m2core.com.au with LMTP id +A19J6HZf2d0uwAAXvqE5A for ; Thu, 09 Jan 2025 14:13:53 +0000 Received: from mx686.syd.oss-core.net (mx686.syd.oss-core.net [210.50.76.254]) by mta653.syd.oss-core.net (Postfix) with ESMTP id 918A699 for ; Thu, 9 Jan 2025 14:13:53 +0000 (GMT) X-CSE-ConnectionGUID: XYLb5wFfT7SHkazoLo9MVQ== X-CSE-MsgGUID: l3n8xxowR/m9EIGKwbI0fQ== IronPort-SDR: 677fd9a1_8TcQBXjzcAGSYnWn320IktNlTV0qiOijopncCEMPzlrXST+ JhwnB88aztHHEY3WvzcHBZC/PsLyk7i2sqVcagA== X-MGA-submission: =?us-ascii?q?MDEWO+RZPgXPQr5rTX0iCyQv7WhqQJuu87hbK4?= =?us-ascii?q?yzYuLyyQP6lTxh9e6GUdNx5ZBK3xrFrVkXfu0eTUNTz0zpgW+YcHVN9y?= =?us-ascii?q?ltsV4OiTsQEWk4HYa+vChF3UNcrdrdN9TScVjdg1eVglXXFY28C3E7VR?= =?us-ascii?q?0IBCQKb75Zpm7MAawX79kqIQ=3D=3D?= Received: from a11-105.smtp-out.amazonses.com ([54.240.11.105]) by mx686.syd.oss-core.net with ESMTP/TLS/ECDHE-RSA-AES256-GCM-SHA384; 10 Jan 2025 01:13:51 +1100 DKIM-Signature: v=1; a=rsa-sha256; q=dns/txt; c=relaxed/simple; s=4pfzustxoiqpcdduke5r3ngdf4xztoag; d=mail.coinbase.com; t=1736432029; h=Content-Type:Date:From:List-Unsubscribe:List-Unsubscribe-Post:Message-Id:Mime-Version:Reply-To:Subject:To; bh=GImHwi+LIlmlTYuOVN0K7DfRgpJQH4fiizlAYvwFMOE=; b=LwXVppBRE/WDGRl5LAjgor9hWtzY+jq4s73WAcKLwFjC709HjMcfZeWh9PHf9tFc 3FwWpuGXWQNrNw8sL4kBzKo1Seog6gy8Bcrh5zZWjjiDPNQxWfnHkCbyzjYyrmK6BHj eQUrSmxKzj21lW3mQxWUXojNEy8qwO1zg8wZh62E= DKIM-Signature: v=1; a=rsa-sha256; q=dns/txt; c=relaxed/simple; s=ug7nbtf4gccmlpwj322ax3p6ow6yfsug; d=amazonses.com; t=1736432029; h=Content-Type:Date:Feedback-Id:From:List-Unsubscribe:List-Unsubscribe-Post:Message-Id:Mime-Version:Reply-To:Subject:To; bh=GImHwi+LIlmlTYuOVN0K7DfRgpJQH4fiizlAYvwFMOE=; b=Bm44i+F0ai/dxZM1dU8M9d9uRbz/phNH6nohZtJGUDYbaIsLKQiOic5R28znrhoQ C2ARJL0+fjKa6J8QPrZSBN77cojEmAchdxeQWLnBYJAXK+LYOHLv4zAI/VCoCqktChh vb5hEIifP/5mB5EOcMmyLwel4RDxcglEoNPLjSWo= Content-Type: multipart/alternative; boundary="----=_Part_1692_225567788.1736432027921" Date: Thu, 9 Jan 2025 14:13:48 +0000 Feedback-Id: ::1.us-east-1.7Dy6Wv5AnFh3NYaKlrCFnhqGApXC3QfI6g+8Wv9I+w8=:AmazonSES From: Coinbase Bytes List-Unsubscribe: List-Unsubscribe-Post: List-Unsubscribe=One-Click Message-ID: <010001944b6a0ca4-21500cc7-5c1f-49e0-990b-6e72dccf6622-000000@email.amazonses.com> Mime-Version: 1.0 Reply-To: newsletter@mail.coinbase.com Subject: Four tokens analysts are watching in 2025 To: Matthew X-Campaign-Id: 12251190 X-Feedback-Id: 16071677:12251190:37574:iterable X-Message-Id: 2709c71aa596410e81c1ac52c5c1b7ce X-SES-Outgoing: 2025.01.09-54.240.11.105 ------=_Part_1692_225567788.1736432027921 Content-Type: text/plain; charset=UTF-8 Content-Transfer-Encoding: quoted-printable Coinbase Bytes Will major altcoins outperform BTC this year? View in browse= r=20 =20 09/01/2025 Don't invest unless you're prepared to lose all the money you invest. This= is=20 a high-risk investment and you should not expect to be protected if somethi= ng=20 goes wrong.Take 2 mins to learn more = . =20 =20 Some analysts argue that several tokens could outperform bitcoin in 2025. What=E2=80=99s up? It=E2=80=99s Coinbase Bytes There=E2=80=99s never a dull moment on the blockchain. Here=E2=80=99s what = you need to know=20 this week: * Bitcoin revisited $100K before dipping. Plus, crypto ETFs started the ye= ar=20 strong, and MicroStrategy bought even more BTC.=20 * Four tokens to watch in 2025. But will they outperform BTC? See what mar= ket=20 watchers are saying.=20 * Numbers to know. The amount of memecoin profits ETH co-creator Vitalik= =20 Buterin donated to charity, the size of Arbitrum=E2=80=99s onchain gaming f= und, and=20 more key stats.=20 Bitcoin=20 =C2=A374,732.88=20 -4.60% Ethereum=20 =C2=A32,617.98=20 -6.90% =20 =20 XRP=20 =C2=A31.83=20 -5.81% = =20 Solana=20 =C2=A3150.88=20 -10.95% =20 Dogecoin=20 =C2=A30.26=20 -5.39% =20 =20 Cardano=20 =C2=A30.72=20 -8.13% Bitcoin=20 =C2=A374,732.88=20 -4.60% Ethereum=20 =C2=A32,617.98=20 -6.90% =20 =20 XRP=20 =C2=A31.83=20 -5.81% = =20 Solana=20 =C2=A3150.88=20 -10.95% =20 Dogecoin=20 =C2=A30.26=20 -5.39% =20 =20 Cardano=20 =C2=A30.72=20 -8.13% Past performance is no guarantee of future results. Price changes are for t= he=20 past week, ending on Jan 9, 2025 at 02:08 PM UTC See the latest prices =20 MARKET BYTES=20 Crypto markets dip following early 2025 rally After surging in the first week of 2025, a wide range of cryptocurrencies s= lid=20 on Tuesday=20 =20 as new U.S. jobs data came in stronger than expected. By Wednesday, Bitcoin (BTC) had=20 fallen roughly 8% for the week, from roughly $102,000 to $94,000. Meanwhile= , Ether (ETH) , Dogecoin (DOGE)=20 , and Solana (SOL)=20 all fell by more than 10%. Why might a strong economy push crypto prices down? In part, analysts say,= =20 because traders fear that it could cause the Federal Reserve to cut interes= t=20 rates this year more slowly than markets initially expected. (As a general= =20 rule, lower interest rates tend to boost growth assets like crypto and tech= =20 stocks.) Another potential cause for the dip? Traders cashing in on profits after=20 prices spiked last week =E2=80=94 a consistentpattern=20 in the weeks since prices first began to soar in the wake of the U.S. elec= tion=20 in November. Here are more market stories you should know about=E2=80=A6 Crypto ETF inflows spike to start 2025 After a brief down cycle to end 2024, crypto investment products came roari= ng=20 back to start the year,with around $585 million=20 in inflo= ws=20 in just the first three days of 2025. At this time last year, the major U.S.-based spot BTC and ETH exchange-trad= ed=20 funds (ETFs) didn=E2=80=99t even exist, and their emergence in 2024 was one= of the=20 biggest catalysts for the historically high prices markets have seen since.= How=20 big? The most popular BTC ETF =E2=80=94 BlackRock=E2=80=99s iShares product= =E2=80=94hasaccumulated=20 more than $50 billion in assets alone. * What=E2=80=99s next for ETFs? Firms are seeking approval for a wide rang= e of new=20 crypto-related ETFs, fromfunds that would hold altcoins=20 like XRP and SOL to a new kind of crypto fund that wouldcombine BTC exposu= re=20 with =E2=80=9Cdownside protection=E2=80=9D=20 via options.=20 MicroStrategy bought more BTC=20 For the ninth week in a row, publicly-traded software firm MicroStrategy=20 purchased more bitcoin=20 for its corporate treasury, adding an additional $100 million in BTC and= =20 announcing that it will be raising another $2 billion in financing to add t= o=20 its holdings. The firm'scurrent tally of 447,470 BTC=20 was worth around $44= =20 billion as of Monday. MicroStrategy=E2=80=99s BTC-buying spree has made it a hit on Wall Street, = with shares=20 up around 450% over last year at this time =E2=80=94 however share prices a= re down=20 sharply from November highs. The firm was added to the Nasdaq 100 index in = late=20 December. * Adopting the strategy=E2=80=A6 Other publicly-traded firms have been exp= erimenting=20 with BTC purchases=20 , although in much smaller quantities than MicroStrategy. On Monday, KULR= =20 Technology Group, a renewable energy company that trades on the NYSE,purcha= sed=20 around $21 million=20 worth of BTC.=20 Read about MSTR=E2=80=99s bitcoin plan=20 TIS THE ALTSEASON?=20 Four tokens to watch as markets ramp up in 2025=20 Last year=E2=80=99s massive crypto resurgence was driven in large part by b= itcoin,=20 which rose more than 100% as the launch of spot bitcoin ETFs in the U.S. he= lped=20 usher tens of billions of dollars into the crypto market. But could 2025 be the year that altcoins outperform BTC? Data from the firs= t=20 days of the year =E2=80=94 along with insights from a growing number of ana= lysts =E2=80=94 suggest that it might=20 . =E2=80=9CHeading into the new year, market participants have started to div= ersify=20 their exposure by allocating capital to representations of more speculative= =20 narratives,=E2=80=9D Chris Newhouse, director of research at web3 firm Cumb= erland Labs,=20 told Bloomberg. Which tokens might be set for a big year? Here=E2=80=99s what you need to k= now.=20 1. Ethereum The second-largest cryptocurrency by market cap had a relatively disappoint= ing=20 2024, notchingjust a 45% gain des= pite=20 the launch of spot ETH ETFs andrising activity=20 across Ethereum's netw= ork=20 of layer-2 blockchains. Its underperformance has investors split on its 202= 5=20 outlook. Steno Research is predicting a big year=20 for Ethereum, anticipating a rise from its current level of around $3,300,= to=20 around $8,000, citing historical trends and rising onchain activity. However, a new report from 10x Research=20 suggests the asset might continue to underperform bitcoin in 2025, in part= due=20 to a =E2=80=9Cgrowing risk that some validators may begin exiting the netwo= rk.=E2=80=9D =E2=80=9CWhile the possibility of a new catalyst cannot be ruled out, we wo= uldn=E2=80=99t be=20 surprised if Ethereum struggles to deliver meaningful rallies next year,=E2= =80=9D said=20 10x Research. 2. XRP After years of sideways price action caused in part by a long-running legal= =20 dispute between the SEC and payments platform Ripple, XRP woke up in a big = way=20 after last year=E2=80=99s U.S. presidential election,rising more than 400%= =20 =20 in a matter of weeks. Now, with the lawsuit largely settled, the token could be poised for an eve= n=20 bigger 2025. XRP started the year up 15%, before pulling back on Tuesday. Ripple CEO Brad Garlinghouse, whose global payments firm uses XRP across it= s=20 network,said that a positive political backdrop=20 following Donald Trump=E2=80=99s win has helped significantly boost busine= ss. =E2=80=9CWe signed more U.S. deals in the last six weeks of 2024 (since the= election)=20 than the previous six months,=E2=80=9D Garlinghouse said in arecent post=20 on X.=20 Another potential boon to XRP prices? The increasing likelihood=20 of a spot ETF launching this year. =E2=80=9CThe chances of approval have r= isen lately=20 with a crypto-friendly face =E2=80=93 Paul Atkins =E2=80=93 heading the SEC= under the Trump=20 administration,=E2=80=9D said an article in Forbes. 3. Solana Solana was one of the early outperformers of this bull cycle, rising from $= 23=20 in October 2023 all the way to a new all-time-high of $264 in November 2024= . A=20 major catalyst behind the run: Solana=E2=80=99s underlying network, which h= as turned=20 into a major moneymaker. The total fees generated by apps on Solana represented more than half of al= l=20 onchain application fees last year,according to Messari=20 , and upgrades to Solana= =E2=80=99s=20 blockchain helped spur new institutional use cases, like PayPal launching a= =20 version of its stablecoin on Solana. While much of Solana=E2=80=99s activity is still concentrated around specul= ative DeFi=20 trading =E2=80=94 compared to ETH=E2=80=99s ecosystem of lending, yield far= ming, and liquid=20 staking apps =E2=80=94 Messari believes that could change quickly this year= . =E2=80=9C2025 may well mark the year of Solana as a fully realized ecosyste= m,=E2=80=9D Messari=20 wrote as part of its Crypto Theses 2025 report. =E2=80=9CWhile Solana=E2=80= =99s fee generation=20 underscores its strong position in spot trading, the broader ecosystem bega= n to=20 show signs of growth beyond trading in 2024." One other potential 2025 catalyst: the potential approval of spot ETFs for= =20 SOL. As of Wednesday, Polymarket bettorsassigned a 74% chance=20 of=20 one being approved in the U.S. this year, an estimate that VanEck=E2=80=99s= Head of=20 Digital Assets Research Matthew Sigel recentlycalled=20 =E2=80=9Cunderpric= ed.=E2=80=9D=20 4. DOGE Last year, Dogecoin wasn=E2=80=99t even the biggest gaining dog-themed meme= coin, with=20 Solana-based tokens likeDogwifhat (WIF)=20 rising by more than 1,000% befor= e=20 ending the year with around a 400% gain. But some analysts believe the=20 =E2=80=9Coriginal memecoin=E2=80=9D couldreclaim its spot=20 = as=20 the top dog in 2025. DOGE has maintained its spot as a Top 10 token throughout most of this bull= =20 cycle, and was the second biggest gainer in the Top 10 leading up to this= =20 week=E2=80=99s selloff. And with =E2=80=9CDogefather=E2=80=9D Elon Musk headed to Washington to lea= d the Department of=20 Government Efficiency (aka DOGE) and potential spot ETFs in the works, some= =20 analysts suggest the token could finally surge to $1 as holders have long h= oped. According to Galaxy Digital=E2=80=99s head of research, Alex Thorn, =E2=80= =9CDOGE to $1=E2=80=9D might=20 not just be a meme in 2025. =E2=80=9CDogecoin will finally hit $1, with the= world=E2=80=99s=20 largest and oldest memecoin touching a $100bn market cap,=E2=80=9Dpredicts= =20 Thorn. See more 2025 storylines to watch=20 =20 NUMBERS TO KNOW=20 $190 million Size of Arbitrum=E2=80=99s =E2=80=9CGaming Catalyst Program,=E2=80=9D which= aims to fund=20 100 gaming projects on the popular layer 2 network within three years. On= =20 Tuesday, Arbitrumannounced=20 its largest-ever developer grant to South Korea=E2=80=99s Lotte Group in a= move that=20 would see the blockchain become the main partner of Caliverse, Lotte=E2=80= =99s=20 metaverse gaming platform. $2.5 million Approximate amount that Ethereum co-creator Vitalik Buterin is donating=20 to Kanro, his philanthropic fund related to pandemic readiness and relief,= =20 founded in response to COVID-19. Buterin recently raised the proceeds by=20 selling several dozen memecoins, including SHIB and DOGE. 70% Percent of new token launches=20 on Solana that= =20 memecoin-creation platform Pump.fun was responsible for over the weekend. T= he=20 application, which enables users to create new tokens without requiring dee= p=20 technical knowledge, has helped produce over 5.6 million new tokens since i= ts=20 inception nearly a year ago. TUNE IN=20 Catch up on the new season of =E2=80=9CEvolving Money=E2=80=9D=20 The latest episode of Coinbase=E2=80=99s award-winning =E2=80=9CEvolving Mo= ney=E2=80=9D podcast=20 drops this= =20 Thursday, and explores how stablecoins are making payments faster, cheaper,= and=20 easier for individuals and businesses around the globe. In the meantime, get caught up by tuning in to episode 1=20 of Season T= wo,=20 which takes a look at the internet=E2=80=99s shortcomings and why moving on= chain can=20 create better outcomes for creators and consumers worldwide. Start listening today on Spotify=20 , Apple,=20 or wher= ever=20 you get your podcasts. Listen to =E2=80=9CEvolving Money=E2=80=9D=20 =20 TOKEN TRIVIA=20 What is Bitcoin=E2=80=99s maximum supply? A 50 million=20 B There is no maximum supply=20 C 21 million=20 D 12 billion=20 Find the answer at the end of the email. Read about Bitcoin=E2=80=99s creator=20 =20 Trivia answer C 21 million=20 =20 =20 Disclaimer: This material is the property of Coinbase, Inc., its parent and= =20 affiliates ("Coinbase"). The views and opinions expressed herein are those = of=20 the author and do not necessarily reflect the views of Coinbase or its=20 employees and summarizes information and articles with respect to=20 cryptocurrencies or related topics that the author believes may be of inter= est.=20 This material is for informational purposes only, and is not (i) an offer, = or=20 solicitation of an offer, to invest in, or to buy or sell, any interests or= =20 shares, or to participate in any investment or trading strategy, (ii) inten= ded=20 to provide accounting, legal, or tax advice, or investment recommendations = or=20 (iii) an official statement of Coinbase. No representation or warranty is m= ade,=20 expressed or implied, with respect to the accuracy or completeness of the= =20 information or to the future performance of any digital asset, financial=20 instrument or other market or economic measure. The information is believed= to=20 be current as of the date indicated on the materials. Recipients should con= sult=20 their advisors before making any investment decision. Coinbase may have=20 financial interests in, or relationships with, some of the entities and/or= =20 publications discussed or otherwise referenced in the materials. Certain li= nks=20 that may be provided in the materials are provided for convenience and do n= ot=20 imply Coinbase's endorsement, or approval of any third-party websites or th= eir=20 content. Coinbase, Inc. is not registered or licensed in any capacity with = the=20 U.S. Securities and Exchange Commission or the U.S. Commodity Futures Tradi= ng=20 Commission. Information provided is for general educational purposes only and is not= =20 intended to constitute investment or other advice on financial products. Th= is=20 is not a recommendation to buy or sell any particular digital asset or to u= se=20 any particular investment strategy. Coinbase makes no representation on the= =20 accuracy, suitability, or validity of any information provided. =C2=A9 Coinbase 2025 | Coinbase Europe Limited=20 45 Mespil Road | Dublin | D04 W2F1 | Ireland=20 =C2=A9 Coinbase 2025 | CB Payments, Ltd=20 The Scalpel - 18th Floor | 52 Lime Street | London | EC3M 7AF | UK=20 www.coinbase.com =20 Get in touch =20 CB Payments, Ltd. is authorised by the Financial Conduct Authority under t= he=20 Electronic Money Regulations 2011 (register number 900635) for the issuing = of=20 electronic money. Cryptocurrency is unregulated in the UK and may gain in value, or lose som= e=20 or all value. Profits may be subject to Capital Gains Tax. Unsubscribe=20 from future editions of Coinbase Bytes. ------=_Part_1692_225567788.1736432027921 Content-Type: text/html; charset=UTF-8 Content-Transfer-Encoding: quoted-printable Coinbase Bytes = Will major altcoins= outperform BTC this year?
=

09/01/2025

=
Don't invest unless you're prepared to lo= se all the money you invest. This is a high-risk investment and you should = not expect to be protected if something goes wrong. T= ake 2 mins to learn more.
=
<= a href=3D"https://links.coinbase.com/a/click?_t=3D3aca56371967418192255878e= 9689713&_m=3D2709c71aa596410e81c1ac52c5c1b7ce&_e=3D3w4DkZBSmShGS_QzWreQKAEb= yXhRD-72v38jmjbY4NekLi22yggtc__5Sj-fb0UwYrqQnuEWxL37kWDKSUbywnPAZKqcdGLQ0ZK= ytIUA5NTDkiCkPO8HVXSAjIeCjVuCfuM357YTi185YGWEH1wjkXvn0CxOrK9Fjl3Te2cxwlCTfa= ubsIbUv457SqS07f6OxJykhWil3GtX7nsUON-1qUps9Q_YjqSUN5F248H2HODgpNF5zN5_hOuzt= l_S9p_VfIBEEAY8_din3BuAr7JYvJSizD699F9_uhxy8YtDttxmJ08-wYZ8BtKkMvNO51Aw" ta= rget=3D"_blank" rel=3D"noopener noreferrer"> =

Some analysts argue that severa= l tokens could outperform bitcoin in 2025.

What=E2=80=99s up? It=E2=80=99s Coinbase Bytes

There=E2=80=99s never= a dull moment on the blockchain. Here=E2=80=99s what you need to know this= week:

  • Bitcoin revisited $100K before dipping. Plus, crypto ETFs started the year strong, and MicroStrategy bought even= more BTC.
  • Four t= okens to watch in 2025. But will they outperform BTC? See what mar= ket watchers are saying.
  • = Numbers to know. The amount of memecoin profits ETH co-cre= ator Vitalik Buterin donated to charity, the size of Arbitrum=E2=80=99s onc= hain gaming fund, and more key stats.

<= table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0">
=
Bitcoin
= =C2=A374,732.88
-4.60%
=
Ethereum
=C2=A32,617.98
-6.90%
<= table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0">
=
XRP
=C2= =A31.83
-5.81%
=
S= olana
=C2=A3150.88
-10.95%
<= a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fa%= 2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3D2709c71aa596410e81c1= ac52c5c1b7ce%26_e=3D3w4DkZBSmShGS_QzWreQKAdTR0zl0i6yDLHjtewlogeQnx1yF5F08Dv= V4znZa0xEqWC9BPIWkKlbHlzjg6wdbVSsRbDIaxiCitLus_5RN4m78zXIbAX86qpKVCHkgORTjj= Vf-kYyCvbAi4i4nbc49lVHX9LXbZVDCv99qlHq4g2GgHavb_mtFZsZcyQcADSxNe-yXBdniXwA5= B0zAzGtcgdZ1GiXl9_krCW9U-Pi8ldgl52m1LaTqavEmpPTcF_PKyOTTGs8Zl1NDAaKAsYSgo9P= knSjsc92ZhN_bqzfPoBESYDlLOTcOtHJYtlCKrwqfDLgs1XrWl8kVMNDIFwN2tIz4lrtSIqREIM= t9NO2JSQYEIz4a7yF8RgHLg3k3b1Z/1/010001944b6a0ca4-21500cc7-5c1f-49e0-990b-6e= 72dccf6622-000000/ZCFYJag0UN8H84on8DgDbf-raG-CqPpcIZjXaUw5_3c=3D387" target= =3D"_blank" style=3D"text-decoration:none; color:#0A0B0D;">
<= /tr>
Dogecoin
=C2=A30.26
-5.39%
=
Cardano
=C2=A30.72
-8.13%
=
<= tr> <= /tr>
=
Bitcoin
=C2=A374,732.88
-4.60%
=
Ethereum
=C2=A32,= 617.98
-6.90%
= =
XRP=
=C2=A31.83
-5.81%
=
= =
Solana
=
=C2=A3150.88
-10= .95%
Dogecoin
=C2=A30.26
-5.39%
=
=
Cardano
=C2=A30.72
-8.13%

Past performance is no guarantee of fu= ture results. Price changes are for the past week, ending on Jan 9, 2025 at= 02:08 PM UTC

See the latest prices
<= /tbody>
=

MARKET BYTES

Crypto markets dip following early 2025 rally

After surging in the first week of 2025, a wide range of cr= yptocurrencies By Wednesday, Bitcoin (BTC) had fallen roughly 8% for the we= ek, from roughly $102,000 to $94,000. Meanwhile, Ether (ETH), Dogecoin (DOG= E), and Solana (SOL) all fell by more than 10%.

Why might a str= ong economy push crypto prices down? In part, analysts say, because traders= fear that it could cause the Federal Reserve to cut interest rates this ye= ar more slowly than markets initially expected. (As a general rule, lower i= nterest rates tend to boost growth assets like crypto and tech stocks.)&nbs= p;

Another potential cause for the dip? Traders cashing in on profits= after prices spiked last week =E2=80=94 a consistent pattern= in the weeks since prices first began to soar in the wake of the U.S. elec= tion in November.

Here are more market stories you should know about= =E2=80=A6

Crypto ETF inflows spike to start 2025

=

After a brief down cycle to end 2024, crypto investment products came ro= aring back to start the year, with a= round $585 million in inflows in just the first three days of 2025.

=

At this time last year, the major U.S.-based spot BTC and ETH exchange-t= raded funds (ETFs) didn=E2=80=99t even exist, and their emergence in 2024 w= as one of the biggest catalysts for the historically high prices markets ha= ve seen since. How big? The most popular BTC ETF =E2=80=94 BlackRock= =E2=80=99s iShares product =E2=80=94has accumulated<= /a> more than $50 billion in assets alone. 

MicroStrategy bought more BTC 

For the ninth week i= n a row, publicly-traded software firm MicroStrategy purchased more bitcoin for its corporate t= reasury, adding an additional $100 million in BTC and announcing that it wi= ll be raising another $2 billion in financing to add to its holdings. The f= irm's current tally of 447,470 BTC was worth around $44= billion as of Monday. 

MicroStrategy=E2=80=99s BTC-buying spree= has made it a hit on Wall Street, with shares up around 450% over last yea= r at this time =E2=80=94 however share prices are down sharply from No= vember highs. The firm was added to the Nasdaq 100 index in late December.<= /p>

Read about MSTR=E2=80=99s bitcoin plan
<= /tbody>
=

Four tokens to watch as markets ramp up in 202= 5

Last year=E2=80=99s massive crypto resurgence was = driven in large part by bitcoin, which rose more than 100% as the launch of= spot bitcoin ETFs in the U.S. helped usher tens of billions of dollars int= o the crypto market.

But could 2025 be the year that altcoins outperf= orm BTC? Data from the first days of the year =E2=80=94 along with ins= ights from a growing number of analysts =E2=80=94 suggest that it might.

=

Which tokens might be set for = a big year? Here=E2=80=99s what you need to know. 

1. Et= hereum

The second-largest cryptocurrency by market cap had a= relatively disappointing 2024, notching just a 45% gain despite the lau= nch of spot ETH ETFs and rising activity across Ether= eum's network of layer-2 blockchains. Its underperformance has investors sp= lit on its 2025 outlook. 

Steno Research is predicting a bi= g year for Ethereum, anticipating a rise from its current level of arou= nd $3,300, to around $8,000, citing historical trends and rising onchain ac= tivity. 

However, a new report from 10x Research suggests the asset might continue t= o underperform bitcoin in 2025, in part due to a =E2=80=9Cgrowing risk that= some validators may begin exiting the network.=E2=80=9D

=E2=80=9CWhi= le the possibility of a new catalyst cannot be ruled out, we wouldn=E2=80= =99t be surprised if Ethereum struggles to deliver meaningful rallies next = year,=E2=80=9D said 10x Research.

2. XRP

After= years of sideways price action caused in part by a long-running legal disp= ute between the SEC and payments platform Ripple, XRP woke up in a big way = after last year=E2=80=99s U.S. presidential election, rising more than 400% in a mat= ter of weeks. 

Now, with the lawsuit largely settled, the token = could be poised for an even bigger 2025. XRP started the year up 15%, befor= e pulling back on Tuesday. 

Ripple CEO Brad Garlinghouse, whose = global payments firm uses XRP across its network, sa= id that a positive political backdrop following Donald Trump=E2=80=99s = win has helped significantly boost business. 

=E2=80=9CWe signed= more U.S. deals in the last six weeks of 2024 (since the election) than th= e previous six months,=E2=80=9D Garlinghouse said in a rece= nt post on X. 

Another potential boon to XRP prices? The 3. Solana=

Solana was one of the early outperformers of this bull cycle, rising= from $23 in October 2023 all the way to a new all-time-high of $264 in Nov= ember 2024. A major catalyst behind the run: Solana=E2=80=99s underlying ne= twork, which has turned into a major moneymaker. 

The total fees= generated by apps on Solana represented more than half of all onchain appl= ication fees last year, according to Messari, and upg= rades to Solana=E2=80=99s blockchain helped spur new institutional use case= s, like PayPal launching a version of its stablecoin on Solana.

While= much of Solana=E2=80=99s activity is still concentrated around speculative= DeFi trading =E2=80=94 compared to ETH=E2=80=99s ecosystem of lending, yie= ld farming, and liquid staking apps =E2=80=94 Messari believes that could c= hange quickly this year. 

=E2=80=9C2025 may well mark the year o= f Solana as a fully realized ecosystem,=E2=80=9D Messari wrote as part of i= ts Crypto Theses 2025 report. =E2=80=9CWhile Solana=E2=80=99s fee generatio= n underscores its strong position in spot trading, the broader ecosystem be= gan to show signs of growth beyond trading in 2024."

One other potent= ial 2025 catalyst: the potential approval of spot ETFs for SOL. As of Wedne= sday, Polymarket bettors assigned a 74% chance of one being approved in the U.S. t= his year, an estimate that VanEck=E2=80=99s Head of Digital Assets Research= Matthew Sigel recently called =E2=80=9Cunderpriced.= =E2=80=9D

4. DOGE

Last year, Dogecoin wasn=E2= =80=99t even the biggest gaining dog-themed memecoin, with Solana-based tok= ens like Dogwifhat (WIF) rising by more than 1,000% before ending the yea= r with around a 400% gain. But some analysts believe the =E2=80=9Coriginal = memecoin=E2=80=9D could reclaim its spo= t as the top dog in 2025.

DOGE has maintained its spot as a Top 1= 0 token throughout most of this bull cycle, and was the second biggest gain= er in the Top 10 leading up to this week=E2=80=99s selloff. 

And= with =E2=80=9CDogefather=E2=80=9D Elon Musk headed to Washington to lead t= he Department of Government Efficiency (aka DOGE) and potential spot ETFs i= n the works, some analysts suggest the token could finally surge to $1 as h= olders have long hoped. 

According to Galaxy Digital=E2=80=99s h= ead of research, Alex Thorn, =E2=80=9CDOGE to $1=E2=80=9D might not just be= a meme in 2025. =E2=80=9CDogecoin will finally hit $1, with the world=E2= =80=99s largest and oldest memecoin touching a $100bn market cap,=E2=80=9D = predicts Thorn.

See more 2025 storylines to watch

TIS THE ALTSEASON?

<= /td>

NUMBERS TO KNOW

$190 million

Size of Arbitrum= =E2=80=99s =E2=80=9CGaming Catalyst Program,=E2=80=9D which aims to fund 100 gaming projects on the popular layer 2 network= within three years. On Tuesday, Arbitrum announced<= /a> its largest-ever developer grant to South Korea=E2=80=99s Lotte Group i= n a move that would see the blockchain become the main partner of Caliverse= , Lotte=E2=80=99s metaverse gaming platform.

$2.5 million

Approximate amount that Ethereum co-creator Vitalik Buterin = is don= ating to Kanro, his philanthropic fund related to pandemic readiness an= d relief, founded in response to COVID-19. Buterin recently raised the proc= eeds by selling several dozen memecoins, including SHIB and DOGE.

<= strong>70%

Percent of new token launches on Solana that memecoin-creation platform Pump.fun was responsible for ov= er the weekend. The application, which enables users to create new tokens w= ithout requiring deep technical knowledge, has helped produce over 5.6 mill= ion new tokens since its inception nearly a year ago.
TUNE IN

<= strong>Catch up on the new season of =E2=80=9CEvolving Money=E2=80=9D

The latest episode of Coinbase=E2=80=99s award-winning =E2=80=9CEvolving Money=E2=80=9D podcast drops this Thursday, and explores how stablecoins are making payments fas= ter, cheaper, and easier for individuals and businesses around the globe.

In the meantime, get caught up by tuning in to episode 1 of Season Two, which takes a look at the internet= =E2=80=99s shortcomings and why moving onchain can create better outcomes f= or creators and consumers worldwide.

Start listening today on Spotify, Apple, or wher= ever you get your podcasts.

Listen to =E2=80=9CEvolving Money=E2= =80=9D
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TOKEN TRIVIA

What is Bitcoin=E2=80= =99s maximum supply?

= A =

Find the answer at the end of the email.

Read about= Bitcoin=E2=80=99s creator
50 million
= B There is no maximum supply=
C 21 million
D 12 billion
<= p style=3D"margin: 0px; line-height: 1.6; word-break: break-word;">= Trivia answer

C 21 million
= =
3D"Coinbase"
3D"Download =3D"Download
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