Cryptocurrency News – Third Week of January 2025

XRP Hits Seven-Year High

Ripple's XRP has surged to its highest levels since January 2018, nearing its all-time high of $3.40 on major exchanges like Bitfinex, Kraken, and Binance. As of now, XRP has stabilized at $3.27, with a market capitalization reaching $190.9 billion, according to CoinGecko. Over the past week, the cryptocurrency has gained nearly 45%, marking a significant bullish trend.

USDC Transaction Volume Surpasses $20 Trillion

Stablecoin issuer Circle has declared 2024 a milestone year for USDC, driven by advancements in blockchain infrastructure and clearer regulations in the crypto space, as highlighted in its annual report.

USDC's transaction volume surged by 78% in 2024 compared to the previous year. Since its launch, the stablecoin has processed over $20 trillion in transactions. In November 2024 alone, its monthly transaction volume hit a record $1 billion.

Additionally, USDC has played a crucial role in facilitating over $850 billion in transfers from traditional currencies to the blockchain ecosystem. As of January 2025, it is now supported across 16 different networks.

Tether Relocating Headquarters to El Salvador

Tether and its affiliates are finalizing plans to move their headquarters to El Salvador after securing a license to operate as a stablecoin issuer in the country.

Company executives highlight El Salvador's emergence as a global hub for digital assets, driven by progressive government policies, a favorable regulatory framework, and a growing community of Bitcoin-focused professionals.

Following the move, Tether aims to work closely with local authorities and businesses to further strengthen and expand the nation's cryptocurrency ecosystem.

Litecoin’s X Account Hacked in Latest Crypto Scam

Recently, multiple cryptocurrency and venture project accounts on X have been targeted by hackers spreading fraudulent schemes. Among the victims was Litecoin’s official account, which has 1.1 million followers.

The attackers used the compromised account to promote a fake meme token, misleading users. Fortunately, the Litecoin team has since regained control of the account and issued an apology for the incident.