CCData

We’re thrilled to announce that CCData and CryptoCompare have been acquired by CoinDesk, the leading media, events, indices, and data company in the digital asset sector. This acquisition represents a significant milestone for us enhancing the value we provide to our clients and unlocking exciting new opportunities for our combined network of users. Over the last ten years, CCData's industry-leading data and index solutions have supported a broad network of users alongside some of the most innovative companies operating in the sector, including government, institutional, and digital asset clients alike, with CryptoCompare’s retail website serving as the go-to resource for retail market participants. This acquisition will not only bolster CoinDesk’s existing data offerings but also create new opportunities within its growing media, data, and index business. You can read the full announcement here: https://lnkd.in/ePTx_TS3

With Bitcoin celebrating its 16th anniversary of the genesis block, optimism in the digital asset industry continues to climb. From surging institutional interest to technological advancements and a more favourable macroeconomic landscape, 2025 is poised to be a pivotal year for crypto enthusiasts. Currently trading at $96,689, Bitcoin has retraced some of its earlier gains but remains up 3.53% year-to-date, boosting overall market sentiment. Leading the pack is the AI sector, which has seen a remarkable 24.2% increase year-to-date, driven by the rapid rise of AI agents and infrastructure projects that have captured market attention in recent weeks. Meanwhile, Metaverse/Gaming tokens and Layer-1 coins are also performing strongly, with month-to-date returns of 12.1% and 11.5%, respectively. Layer-1 coins, in particular, have benefited from renewed interest from retail investors, with many previously popular tokens on centralised exchanges experiencing significant price surges. On the other hand, memecoins have had a slower start to the year, posting a 5.75% return so far. However, it is more than likely that the sector will catch-up in the coming weeks having led the baskets for most part of last year. Analysing the performance of the baskets in the last 365 days, memecoins stood out as top performers, delivering a staggering 377% return. They were followed by the AI basket and exchange tokens, which posted returns of 71.4% and 62.8%, respectively.

Memecoins have dominated on-chain activity this year, with a basket of established memecoins delivering a staggering 481% YTD return—outperforming every other sector in the digital asset industry. Centralised exchanges are moving fast to capitalise on the trend, listing memecoins at unprecedented speeds. Binance listed $PNUT just 10 days after its debut on Raydium, with the token capturing $10bn in trading volume within 10 days. While memecoins remain driven by attention and speculation, their ability to capture liquidity and sustain interest highlights their role in shaping on-chain dynamics. 🔎 Learn more about emerging trends like memecoins in CCData’s H1 2025 Outlook Report.

In this week's COTW, we examine Bitcoin's yearly returns from 2011 to 2024, highlighting its extreme volatility and rapid adoption. To date, BTC has achieved a compound annual growth rate (CAGR) of approximately 165% since 2011, underscoring its resilience as one of the best-performing assets during this period. 2013 remains Bitcoin's standout year, with a staggering 5,960% return, as its price soared from roughly $13 to $806. Similarly, 2011 (+1,474%) and 2017 (+1,291%) also posted annual returns exceeding 10x. Only three years—2014 (-61%), 2018 (-72%), and 2022 (-65%)—recorded negative yearly returns, each spaced four years apart, with all declines exceeding 60%. If the historical 4-year cycle pattern persists, where three consecutive positive years are followed by one year of decline, 2025 is expected to end on a positive note. While Bitcoin reaching an all-time high before the next halving could influence the historical applicability of these trends, with numerous catalysts anticipated in 2025, another positive year is likely. Explore our previous charts of the week here: https://lnkd.in/eArJ_DZG

CEX Trading Volumes Surpass $10tn for the First Time Centralised exchanges achieved a historic milestone in November 2024, surpassing $10tn in combined spot and derivatives trading volumes for the first time. Binance continues to be the leading centralised exchange with a market share of 38.3% in combined spot and derivatives markets based on the trading activity in 2024 H2 – a record it has held for 57 consecutive months. Top exchanges by market share: 🥇 Binance: 38.3% dominance 🥈 OKX: 14.0% 🥉 Bybit: 13.0% The post-U.S. election environment has driven increased spot accumulation, reflecting renewed confidence among institutional investors. 🔎 For more insights on trading volumes and CEX trends, read CCData’s full H1 2025 Outlook Report: https://lnkd.in/drf4NMkK

Circle’s USDC saw significant momentum in December, with its market capitalisation rising 6.7% to $42.4bn – its highest level since December 2022. Trading volumes for USDC pairs also surged to record highs, reaching $219bn in November. With Circle’s partnership with Binance intensifying global adoption through more USDC pairs, trading activity is on track to achieve new highs. As regulatory clarity improves and strategic partnerships drive adoption, USDC continues to consolidate its position as a leading MiCA-compliant stablecoin. 🔎 Stay up-to-date on USDC’s growth and market performance with CCData’s latest research: https://ccdata.io/research

If Bitcoin was the biggest winner in the industry last year, stablecoins make a strong case for second place. No other sector in the digital asset industry has found a better product-market fit with the traditional finance world than stablecoins, and for good reasons. Offering significant advantages like instant settlement times and lower savings costs compared to existing payment systems, many FinTech companies, including Stripe, Visa, and Mastercard, have amplified their focus on stablecoins in the past year. In December 2024, the total market capitalisation of stablecoins surpassed $200bn for the first time, marking the fifteenth consecutive month of growth. Tether's USDT remains the leading stablecoin with a market capitalisation of $139bn and a 69.7% market share. Circle's USDC and Ethena Labs' USDe follow with market capitalisations of $40.9bn and $5.58bn, respectively - market shares of 20.4% and 2.79%.

With Bitcoin already exhibiting a pre-halving all-time high—a deviation from historical cycles—market participants are asking the big question: How long will this cycle last? Data from previous halving cycles show that Bitcoin cycle tops have historically occurred 371–546 days post-halving, with each cycle extending in duration. This lengthening is driven by market cap maturation, institutional adoption, and a changing volatility-return profile. Historical data suggests two scenarios emerge for 2025: ✅ Base case: Bitcoin peaks at the start of Q2 ✅ Bull case: The uptrend extends, with BTC climbing into Q4 2025, mirroring the patterns observed in 2021. Structurally, this cycle has deviated from historical expectations, with the impact of institutional flows and the adoption of the asset for national reserves likely to determine the magnitude and duration of the current cycle.  🔎 Dive deeper into Bitcoin’s market projections in CCData’s H1 2025 Outlook Report: https://lnkd.in/drf4NMkK

Coinbase Prepares for MiCA: Delists Non-Compliant Stablecoins Ahead of the full implementation of MiCA regulations on December 30th, Coinbase announced the delisting of six non-compliant stablecoins for its European users, including: 🔹USDT 🔹PYUSD 🔹DAI 🔹GUSD 🔹PAX 🔹GYEN Despite delistings in Europe, USDT continues to dominate trading activity on Coinbase globally, with $17.9bn traded as of December 17th. Among MiCA-compliant stablecoins, USDC and EURC lead the way with trading volumes of $3.76bn and $255mn, respectively. 🔎 Discover how MiCA is impacting stablecoin trading volumes and adoption with CCData’s latest Stablecoin and CBDCs report: https://lnkd.in/eaRGYPut

Stablecoin trading volumes on Binance reached $626bn in December (as of the 17th). 📈 Market Share Breakdown on Binance: 🔹 USDT pairs dominate with 73.3% market share. 🔹 FDUSD follows at 19.7%. 🔹 USDC pairs account for 6.93% of trading activity. Euro-backed stablecoins remain a marginal player, with EURT accounting for just 0.03% of trading volume. As Binance expands its support for USDC through its partnership with Circle, we may see USDT dominance wane as we head into 2025. 🔎Explore the latest stablecoin volumes and their evolving market dynamics in our latest Stablecoins & CBDCs Report: https://lnkd.in/eaRGYPut