Из жизни альткоинов

Timing a Bitcoin purchase has always been one of the hardest challenges for investors, especially in the current market, which is defined by low sentiment and bearish price action. The safest moment to buy usually arrives after prices have already surged, when confidence is high, and risk is low. 

However, a recent message from Changpeng Zhao has pushed back against that instinct. Zhao’s Christmas message offers a realistic perspective on what a perfect Bitcoin buy actually looks like in practice.

Fear, Not Euphoria, Is Where Strong Entries Form

The idea of a clean, comfortable Bitcoin entry is a myth. Strong buying opportunities rarely show up during periods of excitement or bullish headlines, and most people who buy during this period buy close to the top. Instead, buying opportunities tend to appear when the market feels heavy, price action looks weak, and sentiment has turned decisively negative.

In a Christmas message shared on social media, Changpeng Zhao addressed a common regret that many investors feel when prices rally to new highs. He asked whether people who watched Bitcoin reach all-time highs ever wished they had bought earlier. 

According to Zhao, those who bought early and made the most gains during rallies did not enter at the top. They bought during periods dominated by fear, uncertainty, and doubt, not when sentiment was rosy. The moments investors later wish they had acted are usually the same moments when confidence was lowest, and headlines were negative, much like the current state of Bitcoin and the entire crypto market.

Sentiment Is In the Red: Fear Dominates the Market

One of the most referenced tools for gauging crypto investor mood, the CMC Crypto Fear and Greed Index, is currently reading around 27, which is in the fear threshold. 

Sentiment indicators like this matter because they reflect collective behavior. The index sitting at 27 puts today’s sentiment in the same context as past phases where patient accumulation eventually delivered strong returns.

Interestingly, the CMC Index has been steadily pushing away from negative territory in recent weeks. The current 27 reading is much better than the 21 reading last week and the 15 reading a month ago. This relates to Bitcoin’s price action since then, which has started to steady just below $90,000. 

A sustained recovery above $90,000, supported by a few strong daily closes in the next few days, could help sentiment across the broader crypto market move out of fear and into neutral territory. If that transition takes hold, optimism would likely follow, and sentiment will start to turn green. By the time sentiment turns positive green, many investors will start to realize that the most attractive entry opportunities are already behind them.

Ethereum is trading below the $3,000 mark as it attempts to push higher and reclaim key structural levels needed to signal the start of a recovery. So far, those efforts have failed. Price remains capped by persistent resistance, and market confidence continues to deteriorate.

While short-term bounces have emerged, most analysts and investors expect the broader downtrend to continue, arguing that Ethereum lacks the demand and momentum required to sustain a meaningful reversal. Sentiment has turned deeply pessimistic, with traders increasingly positioned for further downside rather than recovery.

On-chain and technical data reinforce this cautious outlook. A recent CryptoQuant report shows that after Ethereum’s steep decline from its $4,800 peak, the price has become trapped in a narrow range centered around the $2,800 level for nearly a month. This zone has effectively turned into a state of market purgatory. Bulls have been unable to generate the conviction needed to reclaim higher highs, while bears have repeatedly failed to force a decisive breakdown below support.

The result is a prolonged phase of volatility compression. Price action has tightened, signaling widespread indecision among market participants and a lack of directional commitment. Historically, such compression often precedes a sharp move, but the direction remains uncertain.

Muted Layer-2 Flows Reflect Ethereum’s Stalemate

A recent report from CryptoOnchain highlights that Ethereum’s price stagnation is being closely mirrored by on-chain behavior. Weekly ETH netflows on Arbitrum, one of Ethereum’s most important Layer-2 networks and a common proxy for smart-money positioning and DeFi activity, remain subdued and highly choppy.

Rather than showing a clear inflow or outflow trend, the data reflects a market operating without strong conviction, reinforcing the idea that larger participants are choosing to remain on the sidelines.

This lack of directional flow suggests that capital is not aggressively entering or exiting the ecosystem. Instead, investors appear to be waiting for clearer macroeconomic signals or a definitive shift in market structure before committing.

In previous cycles, sustained expansions in Arbitrum netflows have often coincided with periods of renewed risk appetite or decisive trend changes. The current inactivity stands in sharp contrast to those environments.

The alignment between compressed price action around key support levels and dormant on-chain activity points to a buildup of latent energy within the market. Ethereum is effectively coiling. While this equilibrium can persist for extended periods, it rarely resolves quietly. When the balance breaks, moves tend to be swift and forceful.

Arbitrum netflow is now a critical metric to watch. A sudden and sustained expansion in flows could act as an early signal that this prolonged phase of indecision is nearing its resolution, potentially setting the direction for Ethereum’s next major move.

Ethereum Stabilizes Near $3,000 as Downtrend Pressure Persists

Ethereum is trading near the $2,970 level on the daily chart, attempting to stabilize after an extended decline from the $4,800 highs recorded earlier this cycle. While recent candles show modest recovery attempts, the broader structure remains fragile. ETH continues to print lower highs and lower lows, signaling that bearish momentum has not yet been invalidated despite short-term relief bounces.

Technically, price remains below its key daily moving averages. The faster moving average has rolled over sharply and is acting as immediate resistance, while the 111-day and 200-day simple moving averages converge in the $3,300–$3,600 range. This cluster forms a heavy overhead supply zone, limiting the probability of a sustained upside move unless volume and momentum expand meaningfully.

The recent bounce from the $2,800–$2,900 area has helped Ethereum avoid a deeper breakdown for now. However, this move has occurred on relatively muted volume, suggesting a lack of conviction from buyers. In contrast, the initial leg lower was accompanied by strong selling pressure, reinforcing the idea that the dominant trend remains to the downside.

From a structural standpoint, the $2,800 level remains critical support. A decisive break below this zone would likely accelerate losses and confirm bearish continuation. Conversely, for Ethereum to shift momentum, price must reclaim $3,200–$3,300 and hold above its declining daily averages.

Featured image from ChatGPT, chart from TradingView.com 

The recent surge in Bitcoin (BTC) volatility has led to significant liquidations, prompting renewed suspicions of market manipulation among experts. 

Institutional Sell-Off? 

A detailed analysis by market expert NoLimit on the social media platform X (formerly Twitter) reveals that, at the time of the stock market opening, BlackRock’s Bitcoin exchange-traded fund (ETF) IBIT transferred hundreds of millions of dollars’ worth of Bitcoin into Coinbase Prime wallets. 

This timing and location indicate a pattern that institutions often follow when selling their assets. As explained, these coins are not sent to Coinbase Prime merely to remain inactive; they are typically directed there for sale or liquidity management purposes.

NoLimit asserts that when a major player like BlackRock needs to liquidate assets or meet redemption demands, the price of Bitcoin reacts rapidly. 

He suggests that this situation reflects a combination of factors: selling related to ETFs taking place during low liquidity, inventory management in anticipation of upcoming volatility, and risk reduction in light of a significant derivatives event.

Bitcoin Faces Sharp Decline

Compounding these concerns, technical analyst OxNobler highlighted further developments that contributed to the recent downturn, detailing significant sell-offs by various trading platforms. 

In a rapid succession of transactions, Binance reportedly sold 10,155 BTC, Wintermute let go of 5,354 BTC, Coinbase disposed of 10,113 BTC, BlackRock sold 4,945 BTC, and Kraken moved 4,630 BTC. 

Collectively, these actions amounted to over $2.5 billion worth of Bitcoin sold within a mere 30 minutes, raising suspicions of coordinated market manipulation.

According to analysts from Bull Theory, the situation has taken a dire turn, with Bitcoin plummeting by $2,300 and liquidating $66 million in long positions in just 45 minutes. 

Against this backdrop, $60 billion has been wiped from the crypto market without any negative news triggering such a drastic shift. This scenario has led them to assert that manipulation continues to be a significant concern within the broader crypto market. 

At the time of writing, BTC was trading at $87,340, down slightly more than 30% from its all-time highs set earlier in October. 

Featured image from DALL-E, chart from TradingView.com 

While the price of Bitcoin and Ethereum is still struggling with heightened volatility in the crypto market, the balance of trading activity among the two leading digital assets is quietly shifting. This current pivot is sighted across cryptocurrency exchanges as the number of trades displaying a distinct action.

Traders Pivoting From Bitcoin To Ethereum

Amid the ongoing volatile market phase, a growing disparity has been observed among traders of Bitcoin and Ethereum, the largest cryptocurrency assets. In the report from Alphractal, an advanced investment and on-chain data analytics platform, it appears BTC traders are gradually considering ETH.

After examining the action of investors, Alphractal revealed that the number of perpetual market trades completed for BTC across major crypto exchanges has dropped drastically, which indicates a drop in short-term activity. At the same time, the number of trades for ETH has increased as the altcoin grabs a growing share of overall trade flow, signaling renewed involvement from traders and on-chain players.

According to the platform, more trades are now being processed in ETH, putting the altcoin ahead of Bitcoin in terms of traders’ conviction. This difference reveals a shifting market dynamic in which focus and liquidity are slowly shifting from the consolidation phase of Bitcoin to the growing ecosystem and use-driven activities of Ethereum.

It is worth noting that the market experienced the highest number of leveraged trades in the history of BTC between August and November. During the period, over 19 crypto exchanges, including BitMEX and HyperLiquid, recorded up to 80 million trades in a single day, marking their highest level. However, this activity has remarkably decreased, and the 7-day average is now positioned at just 13 million trades. Such a trend implies a drastic contraction in leveraged trading activity.

On the other hand, Ethereum also experienced a surge in 2025, reaching a peak of nearly 50 million trades. What is noteworthy is that the number of recent Ethereum trades is still far higher than that of BTC. Data shows that the 7-day average for ETH is about 17.5 million trades, indicating a clear divergence between the two crypto leaders.

BTC Now In A Reset Phase Following Reduced Trades

Furthermore, this demonstrates that in the perpetual futures market, BTC and ETH exhibit distinct behavioral patterns. Following the massive liquidation event in October, the market turned extremely cautious toward Bitcoin and leverage itself. 

Alphractal noted that the impact of this divergence is evident in the largest Open Interest (OI) drawdown in the history of Bitcoin. In the meantime, the platform believes that Bitcoin is currently in a reset phase. Meanwhile, it will take a long time before conditions go back to normal and institutional and whale interest resumes.

At the time of writing, the Bitcoin price was trading at $88,875, demonstrating a 1.33% rise in the last 24 hours. Its trading volume has also followed suit, attracting a more than 43% increase over the same time period.

Последняя полная неделя уходящего 2025 года стала временем, когда почти все криптоинвесторы решили не предпринимать активных действий. Низкая волатильность не привела к бурному росту, ралли Санта-Клауса нет и не будет. Что же происходит с биткоином и другими монетами?

A pundit has stirred conversation in the crypto community by suggesting that XRP holders could see unprecedented wealth, potentially reaching millionaire or billionaire status. He cites the evolving crypto regulatory landscape in the United States (US) and XRP’s potential to play a significant financial role in the economy, which could drive strong demand and value growth for the altcoin. 

Why XRP Holders Are Poised For Extraordinary Wealth

Joshua Dalton, the founder of Triblu, an unfunded IT services company, predicted in an X post that XRP holders could become millionaires, billionaires, trillionaires, and even quadrillionaires. He stated that while Bitcoin enthusiasts, including Strategy founder Michael Saylor, may see little to no gains from the token in the future, community members are uniquely positioned to achieve extraordinary wealth. 

In his post, Dalton characterized the altcoin as a unique opportunity for financial growth, potentially surpassing what Bitcoin offers. Trading at just $1.86 compared with Bitcoin’s value of more than $88,000, XRP’s low price gives its investors a notable advantage. This affordability could prove especially beneficial to creating wealth if the cryptocurrency experiences a major price surge in the future. 

In Dalton’s case, the focus is not on price differences but on the potential impact the token could have on the US economy if it becomes a reserve currency. He argued that Bitcoin cannot serve as the official currency for the US reserves because its creator, Satoshi Nakamoto, remains unknown. He also suggested that Bitcoin could potentially be controlled or operated by China, making it untrustworthy and unreliable for national financial purposes.

On the other hand, the Triblu founder noted that the government can fully trust XRP because it is operated by Ripple and entirely based in the United States. Dalton emphasized that, unlike Bitcoin, the altcoin has the capacity to address the national challenges, including the roughly $38 trillion debt crisis. He framed it as a more reliable and strategically valuable asset for the country, highlighting its capacity to support large-scale economic stability in ways that Bitcoin cannot. 

XRP’s Potential Amid Evolving US Regulations

Dalton’s remarks about XRP being a better reserve currency than Bitcoin for the US come amid evolving regulatory developments in the country. In January, President Donald Trump signed an executive order establishing a national reserve for Bitcoin and other altcoins, fueling rumors that the token could be included in the reserve. 

Additionally, this year, the US House of Representatives has passed multiple crypto-related bills, including the CLARITY ACT, GENIUS ACT, and the Anti-CBDC Surveillance State Act. These legislative measures are expected to positively influence the regulatory landscape for cryptocurrencies, potentially fostering wider adoption, increasing investor confidence, and creating a more stable environment for digital assets. 

This is particularly significant for XRP, especially following the resolution of its legal battle with the US Securities and Exchange Commission (SEC), which has strengthened its legitimacy and growth prospects.

The XRP Ledger (XRPL) continues to evolve as Ripple pushes forward with new technical upgrades to strengthen network reliability, expand future use cases, and improve overall network performance. A recently released amendment report highlights several key developments that investors may want to track closely, as these could spark significant changes for the network by 2026. 

Upcoming XRP Ledger Developments

Ripple rolled out the XRPL version 3.0.0 earlier this month, introducing five new amendments currently under review by validators. These proposed changes directly address issues related to price-oracle sorting, token-escrow accounting errors, missing ledger-entry files, Automated Market Maker (AMM) rounding issues, and more. 

Investors are paying close attention to these amendments, as they directly affect asset pricing, accounting, and tracking on the XRP Ledger. These areas can also influence risk assessment and confidence among market participants.

The five active amendments in Rippled 3.0.0, currently open for voting by January 2026, include:

• fixAMMClawbackRounding
• fixIncludeKeyletFields
• fixMPTDeliveredAmount
• fixPriceOracleOrder
• fixTokenEscrowV1

Firstly, the fixAMMClawbackRounding amendment resolves an accounting issue that can occur during AMM clawback transactions involving the final Liquidity Provider (LP) token holder. Previously, rounding errors could create mismatches between AMM balances and trust lines. The newly proposed update ensures these balances remain aligned, allowing invariant checks to function correctly. 

The second amendment, fixIncludeKeyletFields, adds missing identifying fields to several ledger entries. This includes escrow and payment channel sequence numbers, owner fields for signer lists, and document IDs for Oracle entries. The update makes it easier to reference and manage objects within the XRP Ledger. 

The fixMPTDeliveredAmount amendment restores missing DeliveredAmount metadata for direct Multi-Purpose Tokens (MPT) payment transactions. While payments already deliver the correct amounts, the added metadata from the proposed update makes it easier for investors and developers to see and verify what was actually delivered.

To ensure more reliable price data, the fixPriceOracleOrder amendment addresses inconsistencies in how asset pairs are ordered in price oracle entries. By enforcing a consistent order, the change allows applications and users to look up asset prices seamlessly. 

The final amendment, fixTokenEscrowV1, aims to improve accounting accuracy. It corrects an error affecting MPT escrows that include transfer fees. The update ensures that issuer-locked balances and the total supply are reduced by the correct net amounts when escrowed tokens are unlocked, improving the transparency of XRPL. 

XRPL Plans New Institutional Lending Protocol By 2026

Edward Hennis, a software engineer at Ripple, has announced an upcoming XRPL Lending Protocol that is set to transform on-ledger lending. According to Hennis, the protocol will offer fixed-term, fixed-rate, and underwritten credit designed for institutions. 

In his post on X, the Ripple engineer revealed that each loan on the ledger will operate within a Single Asset Vault that isolates risks and allows either private or public contributions. He stated that the protocol is expected to be available for voting by January 2026. Hennis also revealed that Market Makers, PSPs, and fintech lenders will be able to access XRP and RLUSD for a range of institutional use cases through the upcoming lending protocol.

Свыше двух миллионов рублей потеряла жительница Кирова, доверившись обещаниям мошенников о быстрой прибыли от инвестиций на криптовалютной бирже. О происшествии сообщило областное управление МВД России.

Биткоин остается единственным криптовалютным активом, к которому рынок возвращается в моменты страха и скачков инфляции, заявили специалисты платформы аналитики Messari.

Бюро финансовых услуг Гонконга и Комиссия по ценным бумагам и фьючерсам (SFC) этого особого региона Китая предложили ужесточить контроль за кастодиальными сервисами и брокерами-дилерами, работающими с цифровыми активами.

Ongoing volatility across the cryptocurrency market continues to hamper XRP from posting a rally, as recent upward attempts face significant resistance at the $2 price level. However, this persistent downward trend has not entirely crushed the sentiment of investors, especially whale holders.

Large Holders Of XRP Are Stepping Back In

XRP has been in a downward trend for the past few weeks due to a market drawdown in October. After several weeks of subdued price performance and failed upward attempts, key investors are beginning to exhibit positive sentiment towards the leading altcoin.

As observed in the report from Steph is Crypto, a market expert and trader, large investors, also known as whale holders, are making their presence felt once again. Despite the ongoing bearish action of the XRP’s price, there is a steady resurgence in accumulation among the cohort.

While this shift signals growing confidence of deep-pocket investors, it also suggests that they are likely repositioning themselves in anticipation of a broader market move upward. When whale investors start to buy again, it often precedes upward spikes, which raises the question of whether the accumulation could serve as the foundation for the altcoin’s next major direction.

According to the expert, the renewed buying pressure is triggered by large investors holding between 100 million XRP and 1 billion XRP. After days of significant adoption from the group, the total number of coins held by them grew from 8.11 billion to 8.23 billion XRP, valued at approximately $150 million.

A similar resurgence in sentiment and investor activity is also observed among those holding between 10 million and 100 million XRP. Data from the chart shows that these investors now hold about 10.90 billion compared to the 10.88 billion a few days ago. 

Despite large investors buying again, Steph is Crypto believes that the renewed accumulation is more of a cautious move than a bullish move. However, should the trend continue over the following days or weeks, the altcoin may attract enough momentum for an upward move.

Nearly Half Of The Supply In Loss

With XRP’s price declining and trading below the $2 mark, a lot of coins are starting to show major losses. According to on-chain data, the profitability of holders has sharply declined amid the ongoing bearish phase. In a previous post, Steph is Crypto highlighted that nearly 50% of the altcoin’s total supply is now underwater, suggesting a shift in attitude where patience and selectivity are replacing optimism.

The chart shared by the expert shows that the share of XRP supply currently in profit has dropped to 52% following weeks of consistent declines. While nearly half of the total supply held by investors is sitting at a loss, this development increases the risk of panic-driven selling pressure during periods of weakness, as seen in the past. 

However, this cooling in profitability often marks a pivotal phase, as it could still act as a trigger for a notable rally in the upcoming days or weeks. According to the expert, the last time profitability dropped to this level was in November 2024, just before a major upside expansion.

Основатель и гендиректор финтех-компании Galaxy Digital Майк Новограц (Mike Novogratz) назвал критически важный, по его мнению, фактор, определяющий долгосрочное выживание криптовалютных проектов. Бизнесмен особо отметил два цифровых актива.

Криптограф, один из основателей Ripple и ее бывший главный технический директор Дэвид Шварц (David Schwartz) попросил производителей и операторов криптокошельков не делать обновления софта или прошивки обязательными без крайней необходимости.

Developers on Ripple’s XRP Ledger (XRPL) have revealed progress on making the network quantum-resistant. This comes as some Bitcoin advocates and developers downplay the imminent risk posed by quantum computing, stating that it is unlikely to be a concern anytime soon. 

Ripple’s XRP Ledger Works On Quantum-Resistant Code

In an X post, Ripple’s XRP Ledger validator Vet revealed that developers are already working on quantum-resistant code on the network. This came as he drew attention to a fully quantum-proof XRPL, including consensus, which is currently in testnet. This marks progress for the network, even as it achieves something that networks like Bitcoin still lag on. 

Vet indicated that creating a quantum-proof XRP Ledger is likely to come with some disadvantages for the network. He stated that one of the downsides of these encryptions is the size of the signatures. He shared a video showing that transaction signatures for payment on the quantum XRPL are much longer than on the XRPL mainnet. 

Vet’s post followed the revelation by XRPL Labs engineer Dennis Angell that the AlphaNet, the developer network for XRPL, is now fully quantum-secure. Angell mentioned that the testnet now has quantum consensus, quantum accounts, quantum transactions, and dilithium cryptography. He further remarked that they had added native smart contracts while declaring that the quantum-resistant future of blockchain is live. 

Notably, this move comes as Ripple and the XRP Ledger look to onboard more institutions onto the network. Concerns about quantum computing are on the rise, with Bitcoin in the spotlight at the moment, as developers have yet to make meaningful progress on making the flagship crypto quantum-resistant. 

Following the XRP Ledger’s progress on making the network quantum-resistant, crypto pundit Jenna questioned the possibility of Bitcoin investors selling their BTC because it’s not quantum-resistant and then buying XRP because it is safer. Another pundit, Mickle, also noted how the XRP Ledger is already pretty much quantum-proof while Bitcoiners argue over whether quantum computing is real or not. 

Why Working Towards Quantum-Resistant Transactions Matters

In an X post, crypto pundit Sandip noted that blockchains such as Bitcoin, XRP Ledger, and Ethereum rely on ECDSA cryptography. This puts them at risk, as a sufficiently powerful quantum computer could theoretically break them in the future. He then remarked that testing this early ensures the network is future-proofed against the time when quantum computers become powerful enough to break these networks.

Meanwhile, Sandip explained that these XRP Ledger developers are testing optional and upgradeable signature schemes. This will ensure that wallets and validators can later support post-quantum keys. It also enables a smooth migration before quantum risk becomes real. The pundit added that this is long-term infrastructure planning, not price manipulation, as it puts the XRPL ahead of many competitors, including Bitcoin. 

Venture capitalist Nic Carter, who has been very vocal about the quantum risk to Bitcoin, has explained why it is important to start preparing against this risk from now. He highlighted how there are several decisions to be made and processes to be taken if developers are to successfully make the flagship crypto quantum-resistant. 

Руководитель международного отдела работы с потребителями криптобиржи Kraken Марк Гринберг (Mark Greenberg) заявил, что токенизация активов в блокчейнах расширяет функционал денег за пределы привычных фиатных валют.

Trust Wallet says a “security incident” hit only one slice of its product stack: the Chrome browser extension on version 2.68. If you are a mobile-only user, the company says you’re not affected. If you are on any other extension version, the company says you’re not affected either. The problem, per Trust Wallet’s own wording, is tightly scoped, even if the fallout doesn’t feel that way when you’re staring at an emptied address.

The first public flare went up on Dec. 25 via on-chain investigator ZachXBT, who posted a Telegram warning that “a number of Trust Wallet users have reported that funds were drained from wallet addresses within the past couple of hours.”

He stressed that “the exact root cause has not been determined,” then pointed out an uncomfortable coincidence: “the Trust Wallet Chrome extension pushed a new update yesterday.” In the same message, he asked victims to DM him on X so he could “update the list of theft addresses below as I verify more,” and he began publishing alleged theft destinations across multiple chains. His list included multiple EVM addresses and a Solana address.

NEW: @zachxbt SAYS “A NUMBER OF TRUST WALLET USERS HAVE REPORTED THAT FUNDS WERE DRAINED FROM WALLET ADDRESSES WITHIN THE PAST COUPLE OF HOURS”

SOURCE: https://t.co/4shDweZnJF pic.twitter.com/MkbQWZKGCc

— DEGEN NEWS (@DegenerateNews) December 25, 2025

Trust Wallet Confirms The Hack

The wallet firm later confirmed the incident on X. “We’ve identified a security incident affecting Trust Wallet Browser Extension version 2.68 only. Users with Browser Extension 2.68 should disable and upgrade to 2.69,” the company wrote, linking users to the official Chrome Web Store listing.

It added: “Please note: Mobile-only users and all other browser extension versions are not impacted.” The post closed with the kind of line every security team ends up typing sooner or later: “We understand how concerning this is and our team is actively working on the issue. We’ll keep sharing updates as soon as possible.”

Then the guidance got more urgent, and more specific. Trust Wallet warned users who hadn’t updated to 2.69: “please do not open the Browser Extension until you have updated. This may help to ensure the security of your wallet and prevent further issues.”

We’ve identified a security incident affecting Trust Wallet Browser Extension version 2.68 only. Users with Browser Extension 2.68 should disable and upgrade to 2.69.

Please refer to the official Chrome Webstore link here: https://t.co/V3vMq31TKb

Please note: Mobile-only users…

— Trust Wallet (@TrustWallet) December 25, 2025

In a follow-up, it spelled out a step-by-step that boils down to: don’t open the extension, go to Chrome’s extensions page for Trust Wallet, toggle it off if it’s still on, enable Developer mode, hit “Update,” and confirm you’re on version 2.69 before doing anything else. It’s not glamorous, but it’s actionable, which is what matters when you’re in incident mode.

As the claims and counterclaims swirled, cybersecurity firm PeckShield put an early dollar figure on the damage. “The Trust Wallet exploit has drained >$6M worth of cryptos from victims,” PeckShield wrote, adding that while about “~$2.8M of the stolen funds remain in the hacker’s wallets (Bitcoin/EVM/Solana), the bulk – >$4M in cryptos – has been sent to CEXs,” with a breakdown of “~$3.3M to ChangeNOW, ~$340K to Fixed Float, & ~$447K to Kucoin.”

One more pressure point surfaced quickly: compensation. ZachXBT said, “I currently have many concerned victims contacting me via DM so can your team please clarify if you will be offering any compensation for Trust Wallet Browser Extension users.” Trust Wallet did not answer that directly in public. Instead, it replied that its customer support team was already in touch with impacted users regarding next steps and directed people to reach out via its support channel.

So what should users do now, in plain terms? If you are on extension version 2.68, Trust Wallet’s instruction is to stop using it as-is: disable it and upgrade to 2.69 before you open it again. If you think you were affected, the company is routing users to support, while independent investigator ZachXBT is asking for reports to help map theft flows.

UPDATE: Binance founder Changpeng Zhao confirmed via X that user will be compensated for the hack. “So far, $7m affected by this hack. Trust Wallet will cover. User funds are SAFU. Appreciate your understanding for any inconveniences caused. The team is still investigating how hackers were able to submit a new version,” Zhao wrote today.

At press time, the total crypto market cap stood at $2.95 trillion.

Бывший руководитель хедж-фонда Alameda Research, дочерней организации рухнувшей три года назад криптобиржи FTX, Кэролайн Эллисон (Caroline Ellison) выйдет на свободу условно-досрочно в январе 2026 года, сообщило Федеральное бюро тюрем США (BOP).

Генеральный директор компании Strategy Фонг Ле (Phong Le) в подкасте Coin Stories посетовал, что курс биткоина часто бывает непредсказуем, и призвал инвесторов следовать «строгому аналитическому подходу».

Криптоаналитик Бенджамин Коуэн (Benjamin Cowen) предположил в подкасте Bankless, что в связи с текущим медвежьим трендом на рынке криптовалют, в следующем году эфир вряд ли достигнет новых максимумов.

According to a report by liquidation tracker CoinGlass, cryptocurrency derivatives trading hit roughly $85.7 trillion in 2025, an average of about $264 billion a day. That surge put derivatives back at the center of crypto activity and left a clear imprint on markets worldwide.

Market Concentration And Exchange Share

Binance handled roughly $25 trillion of that volume, or about 29% of global derivatives trading. OKX, Bybit and Bitget each posted between $8 trillion and $10 trillion, and the four of them together controlled about 62% of the market.

Based on reports, that level of concentration means a handful of platforms still drive most of the action, and any major hiccup at one of them can ripple through other venues fast.

Crypto: Institutional Pathways Expanded

Trading moved beyond retail bets. Spot ETFs listed in the US, options desks and compliant futures helped mainstream venues such as the Chicago Mercantile Exchange gain ground. The CME had already overtaken Binance in Bitcoin futures open interest in 2024, and it consolidated that position through 2025.

More institutions started using derivatives for hedging and basis trades rather than pure speculation. That change pushed pricing patterns to look more like traditional markets, even as new risks built up under the surface.

Open Interest And Market Swings

Open interest began the year near a low of about $87 billion after a broad round of deleveraging in the first quarter. It then climbed through the middle of the year and reached a record $236 billion on October 7.

An abrupt reset in early Q4 wiped out more than $70 billion in positions — roughly one-third of the open interest at the time. Even after that shock, year-end open interest stood at $145 billion, a 17% rise from where the year began.

Bitcoin Price Action

Meanwhile, Bitcoin’s price has yet to breach the $90k level, trading at $89,950 at the time of writing. US-listed spot Bitcoin ETFs, on the other hand, recorded net outflows, weakening what some had called the institutional bid. A record-sized Bitcoin options expiry landed on Friday, Dec 26, and several analysts argued it kept price pinned in a tighter band — at least for a while.

Sentiment gauges stayed on the gloomy side, with many investors showing caution despite broader product access and more regulated routes to trade.

Forced Liquidations

Total forced liquidations across the year were estimated at about $150 billion. A big portion of the pain came on Oct. 10 and Oct. 11, when more than $19 billion was erased in just two days.

The data for 2025 shows a market that has grown in size and in institutional involvement, while also carrying structural tensions. Trading volumes and product variety have increased, but so have the paths that can transmit shocks.

Featured image from FXLeaders, chart from TradingView