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Crypto analyst Rob Cunningham has detailed the conditions and how many transactions XRP would need to handle to reach a $2,000 valuation. He explained that the token must process sovereign-scale settlement volumes and eliminate liquidity stress to achieve its full potential. 

The Transaction Threshold For A $2,000 XRP

In a rather lengthy X post this Monday, Cunningham outlined a new framework for understanding XRP’s potential price trajectory. He emphasized that the most important question for cryptocurrency is the price at which it eliminates pre-funding, slippage, and liquidity stress for sovereign-scale settlement. The analyst evaluated this using metrics such as global settlement volume, order-book depth, central-bank-scale transaction sizing, and the need to avoid balance-sheet drag. 

According to his analysis, the minimum clean operating range for XRP lies between $1,500 and $3,000 per coin. At a $2,000 valuation, XRP’s network would need to hold $200 trillion in value and process up to $2 quadrillion in daily transactions with a tenfold velocity. 

Cunningham described XRP at the $2,000 level as a rail, a reserve, and a unit of account bridge. He stated that if the cryptocurrency could achieve this valuation, liquidity would effectively become invisible, and the cost of capital could approach zero, making XRP function more like energy than conventional money. 

The analyst also asserted that beyond the $1,500 to $3,000 range, XRP ceases to be “priced” in conventional terms and is instead evaluated based on its functional utility. He declared that XRP would reprice faster than any other asset in history. Unlike most cryptocurrencies, which usually move based on earnings, narratives, or market cycles, XRP would be repriced like infrastructure—fast, violent, and discolored.

Analyst Compares XRP Move To Oil Discovery And Predicts Explosive Rally  

In his analysis, Cunningham also predicted that XRP’s price will eventually be driven by its structural role rather than typical market factors. He explained that once the market recognizes Ripple Labs and the XRP Ledger (XRPL) as essential to global settlements, three key dynamics could kick in simultaneously. 

First, it could optionally collapse as XRP stops being one of many cryptocurrencies and becomes a required input. Second, the future value could exceed the present value. Third, the “float” becomes functionally illiquid, as long-term holders remain firm and institutions must acquire XRP regardless of price. The analyst has compared this rare combination of factors to oil discoveries, wars, shifts in reserve currency, or recognition of monopoly infrastructure. 

The analyst also outlined a three-phase acceleration pattern for XRP, emphasizing that the token’s growth would occur in leaps, with rapid bursts of 3X to 10X. The first phase, Recognition Shock, could last weeks to three months, triggered by clear regulatory finality and treasury-level integration. The second phase, Future Value Compression, may last three to twelve months as the market prices XRP to prevent scarcity. The final phase, Infrastructure Pricing, could span one to three years, with XRP no longer priced but managed.

Bitcoin continues to trade below the psychologically important $90,000 level, reinforcing a cautious tone across the market as more analysts begin to warn that the current cycle could be transitioning toward a broader bear phase in 2026. Despite several attempts to regain upside momentum, price action has remained fragile, with volatility picking up and confidence fading among short-term participants.

Recent on-chain insights from analyst Axel Adler add weight to the growing risk-off narrative. Market sentiment, which reached euphoric levels earlier this month, has undergone a notable reversal. After peaking in early December, optimism quickly faded as prices failed to sustain higher levels, triggering a steady deterioration in sentiment indicators. The latest readings now place sentiment firmly below neutral, reflecting a clear cooling in trader conviction.

This shift is particularly notable because it follows a failed seasonal rebound attempt, often referred to as the “Santa rally,” which historically tends to support prices. Instead, the market’s inability to capitalize on that window has reinforced the view that short-term conditions have deteriorated. The downward turn in sentiment metrics suggests that traders are increasingly defensive, with reduced risk appetite and lower willingness to add exposure at current levels.

As Bitcoin remains capped below key resistance, sentiment dynamics point to a market that is no longer driven by momentum but by caution, uncertainty, and a reassessment of the medium-term outlook.

Bitcoin Trades Below Key Cost Bases as Recovery Signals Remain Elusive

Bitcoin continues to trade under pressure, with price hovering near the $87,400 level, a zone that analysts view as structurally weak in the short term. According to insights shared by Axel Adler, Bitcoin is currently trading below all major short-term holder realized price benchmarks, highlighting the fragility of recent demand. The closest overhead barrier is the short-term holder, 1-week to 1-month realized price around $90,300, a level now acting as immediate resistance rather than support.

Above that, resistance intensifies sharply. A dense supply cluster emerges between $100,400 and $101,500, where the 1-month to 3-month short-term holder realized price converges with the aggregate short-term holder realized price. This zone also aligns closely with the 365-day simple moving average near $101,800, reinforcing its importance as a longer-term inflection area. Additional moving average resistance is positioned even higher, with the 111-day and 200-day SMAs near $104,300 and $107,900, respectively.

Trading below short-term holder cost bases implies that the most recent buyers are sitting on unrealized losses. As a result, relief rallies toward breakeven levels risk triggering renewed selling. For market conditions to improve meaningfully, Bitcoin would need to reclaim and hold above the $90,000 area. Until then, the absence of strong spot demand leaves the market exposed to further downside, despite long-term support anchored near the aggregate realized price at $56,300.

Price Pulls Back to Key Weekly Support: Trend Structure Is Tested

Bitcoin is consolidating near the $87,700 level on the weekly chart, following a sharp rejection from the $110,000–$115,000 region earlier this cycle. The chart shows a clear loss of momentum after the parabolic advance that defined most of 2024 and early 2025, with price now correcting toward its rising long-term averages. Notably, Bitcoin is trading just above the weekly 111-day simple moving average, which has historically acted as an important trend gauge during bull market corrections.

The pullback has so far remained orderly. Despite several weeks of downside pressure, the price has not broken decisively below the ascending structure that began in late 2023. However, the loss of the faster weekly moving average, combined with lower highs since the peak, suggests that the market is transitioning into a consolidation or corrective phase rather than an immediate trend continuation.

Volume dynamics reinforce this view. Selling pressure has increased during down weeks, while recovery attempts have lacked strong follow-through, pointing to cautious positioning among participants. Meanwhile, the 200-day weekly moving average remains far below current levels, underscoring that the broader trend is still intact, albeit stretched.

From a structural perspective, holding the $85,000–$88,000 area is critical. A sustained breakdown below this zone would expose deeper downside risk, while stabilization here could allow Bitcoin to build a base before attempting another directional move.

Featured image from ChatGPT, chart from TradingView.com

Ethereum’s (ETH) market structure is showing a clear split between financial products and direct balance-sheet accumulation.

While U.S.-listed Ethereum ETFs have struggled to attract consistent inflows in recent sessions, corporate treasuries are quietly increasing their exposure, creating a mixed signal for investors heading into the final days of 2025.

Recent ETF data highlights this contrast. According to flow trackers, several Ethereum ETFs recorded flat or negative flows, including a session where BlackRock’s Ethereum ETF posted zero net inflows.

ETF Demand Softens as Ethereum Trades Near Key Levels

Ethereum has momentarily held above the $3,000 psychological level despite the ETF withdrawals, signaling that selling pressure has not translated into a broad market breakdown.

The Ethereum Price action has remained range-bound, with resistance forming above recent highs and buyers continuing to defend lower support zones. Analysts note that ETF flows have historically amplified short-term momentum, but their absence often leads to consolidation rather than sharp declines.

The uneven ETF activity also reflects market concentration. While some Ethereum funds briefly recorded inflows earlier in the week, most products showed little to no activity. This points to selective positioning rather than a coordinated institutional exit, even as risk appetite remains muted across crypto markets.

Corporate Accumulation Offsets Ethereum ETF Weakness

In contrast to the hesitation among ETF investors, corporate buyers have continued to accumulate Ethereum directly.

Bitmine Immersion Technologies, now the largest known corporate holder of ETH, has surpassed 4 million ETH in total holdings, representing more than 3% of the circulating supply. The firm added nearly 100,000 ETH in a single week, buying into recent price weakness at an average cost of around $3,000.

This steady accumulation highlights a longer-term thesis centered on Ethereum’s role in staking, tokenization, and blockchain-based financial infrastructure. Unlike ETF flows, which are often driven by short-term sentiment and portfolio rebalancing, corporate treasury strategies tend to reflect multi-year positioning.

A Market Divided Between Caution and Conviction

The divergence between ETF flows and direct corporate accumulation underscores a market in transition. Financial products tied to Ethereum appear sensitive to macro conditions and regulatory clarity, while some firms are using price pullbacks to build strategic exposure.

As 2026 approaches, Ethereum’s price may continue to reflect this balance, limited upside without renewed ETF demand, but firm underlying support from long-term holders willing to accumulate outside traditional investment vehicles.

Cover image from ChatGPT, ETHUSD chart from Tradingview

After the successful Midnight (NIGHT) token airdrop, Cardano founder Charles Hoskinson is getting a familiar question from ADA holders: if NIGHT is the new token tied to Cardano’s privacy network, why not sell ADA and move across? In a Dec. 21 appearance on the Discover Crypto podcast, he argued the premise is flawed because Midnight is designed to extend ADA, not replace it.

Why Not Sell Cardano For NIGHT

“They’re complimentary. They do different things,” Hoskinson said. “Midnight is the ChatGPT of privacy. That’s its job. It’s a blockchain to blockchain infrastructure module. So, what Midnight does is it actually makes Cardano applications have privacy.”

That distinction is central to his pitch: Midnight is positioned less as a liquidity siphon and more as an infrastructure module that gives Cardano-native apps a feature set they can use to differentiate in an increasingly crowded DeFi landscape. Hoskinson argued that early adopters are more likely to be Cardano applications precisely because they need a lever to compete for users, rather than larger incumbents elsewhere that tend to be slower-moving.

“Which ones do you think are going to adopt privacy first? Uniswap and PancakeSwap and all these giant things that are slow moving and they’re very conservative because they have a lot of users of value flow,” he said. “No, it’ll be Cardano applications. Because they need to gain users and so this is how they leapfrog the competition.”

From there, Hoskinson broadened the argument into a cross-chain liquidity thesis, leaning heavily on Bitcoin DeFi as a source of potential inflows. He described Bitcoin as relatively “agnostic” capital that will route to wherever yield, credit, and utility are most accessible, and claimed Cardano’s UTXO model makes it a more natural destination than account-based chains.

“When you look at Bitcoin… it doesn’t care if it goes to Ethereum or Solana or Cardano or other places to get yield,” he said. “It’s going to go to the closest continent and the closest continent is Cardano because it’s a UTXO system and Bitcoin is UTXO system. So through Cardano DeFi in particular upgraded with Midnight suddenly Bitcoin’s going to get privacy preserving yield and credit.”

He added that the same privacy-preserving yield concept could extend beyond Bitcoin. “And it’s the same for XRP and these other things,” Hoskinson said, arguing that Midnight’s privacy tooling is intended to “hybridize” on-chain and off-chain infrastructure rather than “steal TVL or steal luster from other systems.”

In practical terms, Hoskinson also tied the ADA-versus-NIGHT decision to distribution and security. He emphasized that Cardano “launched Midnight,” framing it as evidence the ecosystem can execute large-scale initiatives while positioning ADA holders for preferential participation.

“If you’re an ADA holder, you get first access to all of these things and you get the largest proportion of the airdrop,” he said. “And also, Cardano secures Midnight. So, that means ADA holders get NIGHT tokens.”

How High Can ADA Go?

Hoskinson was also pressed on Cardano price expectations. While he refrained to name any price targets, he used that moment to lay out what he described as a “value leakage” theory tied to Bitcoin’s institutional bid. He said Bitcoin is the only asset he feels comfortable forecasting with any confidence, arguing that large allocators are structurally “stuck” in Bitcoin exposure via ETFs and buy-and-hold mandates, which changes the old cycle mechanic where retail would rotate profits from BTC into alts.

In that setup, he suggested the main route for capital to spill from Bitcoin into other ecosystems is not spot rotation, but Bitcoin DeFi yield: if Cardano can offer yield and credit inside a risk profile that institutional holders can tolerate, demand can “leak” outward from BTC without investors selling BTC outright. That is the basis for his view that chains embracing Bitcoin DeFi could move more in sync with Bitcoin, while others could remain decorrelated, even if Bitcoin continues higher.

The broader message was less about discouraging trading behavior and more about presenting a structural rationale for staying exposed to ADA. In Hoskinson’s framing, Midnight is not meant to displace ADA; it is meant to expand the set of use cases Cardano applications can offer, while keeping ADA holders economically involved through security ties and token distribution.

At press time, ADA traded at $0.36.

According to an IMF staff statement released on December 22, 2025, El Salvador has made measurable progress on its reform program and is seeing faster economic growth than earlier expected.

The IMF said discussions on the second review of the country’s 40-month Extended Fund Facility program are ongoing as authorities work to meet agreed benchmarks. Growth forecasts were revised upward, and the fund signaled continued financial support tied to further policy steps.

IMF Notes Faster Growth

Reports note that growth is running above earlier forecasts. The IMF now sees real GDP growth near 4% for 2025. Local data show the economy expanded 5.1% in the third quarter of 2025 compared with the same quarter a year earlier, led by construction and remittance-driven consumption.

Remittances and stronger investment flows were cited as key drivers. The fund said higher confidence and improved fiscal numbers have helped create space for short-term rebuilding of reserves.

Gradually, then suddenly. https://t.co/MWP0avqlDE pic.twitter.com/hYYONaRLcI

— Nayib Bukele (@nayibbukele) December 22, 2025

A Program Backed By Clear Conditions

Based on IMF releases, a staff-level agreement was reached with El Salvador in December 2024 for a program worth about $1.4 billion. That arrangement sets fiscal targets and governance measures meant to restore sustainability.

Earlier, when the IMF completed the first review and Article IV consultation in June 2025, a disbursement equivalent to roughly $118 million in SDRs was approved. Reports added that authorities have enacted a new fiscal law, strengthened public procurement transparency, and advanced governance measures for state firms.

Key Reforms And Conditions

An actuarial study on pensions has been published, and steps to tighten anti-money-laundering rules were discussed with IMF staff. The fund has also pressed for limits on public sector exposure to cryptocurrencies; according to international coverage, measures to reduce that exposure and to make private crypto use voluntary are under consideration.

What Comes Next For The Program

According to IMF briefings, the second review will require follow-through on prior actions and the meeting of fiscal targets. Continued disbursements depend on progress, and IMF teams remain in contact with Salvadoran authorities to work through outstanding issues.

In parallel, the IMF has reiterated its position on El Salvador’s Bitcoin policy. According to recent IMF statements, the fund wants the country’s public sector Bitcoin holdings to remain capped, with no additional purchases made under the current loan program.

The IMF has also pushed for a reduced state role in crypto-related activities, including changes tied to the Chivo wallet, arguing that limits are needed to contain fiscal and financial risks. Salvadoran officials have said Bitcoin remains part of their strategy, though IMF documents show no confirmed increase in government-held Bitcoin since early 2025.

Featured image from Unsplash, chart from TradingView

On a Token Relations webinar for the XRP ecosystem on Dec. 20, Ripple CTO David Schwartz was asked the sort of question that usually produces a tidy dashboard answer, what on-chain metrics actually matter, what’s “real” economic activity, and what trends are showing up across the ledger (and, yes, the ETF chatter in the background). He went straight to the point: usage that sticks, value that moves, and the boring-but-decisive plumbing that financial institutions actually care about will “take over the world.”

How Ripple Wants To Make The XRPL Mainstream

“I definitely focus on metrics that show sustained usage and real value moving through the network,” Schwartz said. “Transaction activity is probably the clearest signal. The XRP ledger has now processed more than four billion transactions with pretty consistent settlement in about four to five seconds at a fairly predictable fee.”

That’s the pitch in one breath: scale, predictable finality, and fees so low you don’t have to pretend they’re a feature.“You know, a transaction on the XRP ledger costs a tiny fraction of a penny,” the Ripple CTO added. “It’s not trying to extract value from people’s transactions. That’s trying to enable people to do what they need to do.”

Then he pivoted to liquidity, the kind of line XRP holders love to hear, but framed as infrastructure rather than tribal scoreboard-watching. “Liquidity is another huge factor,” Schwartz said. “XRP is a top five digital asset by market capitalization and has been for I think 10 years now, about 109 billion dollars deep global liquidity for real financial activity. That depth matters.”

The bigger point he kept coming back to was momentum in actual network use, not just “we issued a token and it sat there.”

“The XRP ledger itself is now one of the top 10 blockchains for real world activity this year with a rate of increase that’s just absolutely astonishing from a use case that was you know almost unthinkable just a year ago,” he said. “We now have institutional issuers like Guggenheim, Ondo [Finance], Aberdeen [Standard Investments], Franklin [Templeton].”

And then the part that’s meant to separate “RWA theater” from RWAs that matter: “And it’s not just issuance, you know, it wouldn’t be super exciting if they were just sort of issuing an asset on chain that just sort of sat on chain,” the Ripple CTO said. “What’s interesting is that these assets are actually moving and settling on chain. So the financial activity is getting the benefit.”

That little distinction is where a lot of tokenization narratives either hold up or collapse. Anybody can “issue” a thing on a ledger. The harder bit is getting it to behave like financial infrastructure, moving, settling, plugging into workflows that aren’t built for crypto vibes.

Schwartz also threw a bit of cold water on the current retail mix. XRPL has users who love the tech (and users who love leverage), but he was pretty blunt that this isn’t the endgame.

But obviously that’s not how we’re going to take over the world. We’re going to take over the world with solid financial products that solve real world use cases. And we are actually starting to see that now enabled by things like stablecoins and tokenized real world assets that let us handle these use cases like payments and like reasonable investments, tokenized money, market funds and treasuries,” he said. “

And retail might follow the institutions, not the other way around. The Ripple CTO pointed to “more than 500,000 new wallets” created, framing it as early evidence that institutional rails can drag everyday users in behind them.

At press time, XRP traded at $1.88.

The US Securities and Exchange Commission (SEC), led by pro-crypto chair Paul Atkins, has filed a significant complaint against a network of alleged crypto exchanges and online investment clubs accused of defrauding victims out of $14 million. 

Major Crypto Scam Complaint

The complaint, which was filed in Colorado, identifies four entities that were operating under the guise of investment clubs and primarily used the popular social media app WhatsApp for communication. 

The regulator alleges that these clubs falsely presented themselves as being managed by experienced financial professionals, offering what they claimed were valuable investment insights. 

Participants were encouraged to invest in three purported crypto trading platforms, described as providing “security token offerings,” which they misleadingly likened to initial public offerings of legitimate company shares. 

However, the Securities and Exchange Commission contends that those who bought into these so-called crypto investments were merely handing their money over to con artists.

“This was an elaborate confidence scam,” stated the SEC in its complaint, emphasizing that the investors’ assets were never invested as promised but were misappropriated from the very beginning. 

Among the accused, one investment club, AI Investment Education, was registered with the SEC as an investment advisory firm. However, a phone number associated with the firm is currently out of service, and the regulatory filing indicated that it had no assets under management. 

The other investment clubs named in the complaint include AI Wealth, Lane Wealth, and Zenith Asset Tech Foundation. The accused crypto trading platforms are Morocoin Tech, Berge Blockchain Technology, and Cirkor.

SEC Details Multistep Scheme

The scammers allegedly lured participants with promises of artificial intelligence-generated investment tips. Victims were persuaded to fund accounts on the fake trading platforms, which were falsely claimed to possess government licenses. 

To expand their fraudulent agenda, the scammers implemented a tactic whereby victims wishing to withdraw their funds were required to pay fees upfront. According to the complaint, no withdrawal requests were ever fulfilled.

The SEC reports that the $14 million disappeared overseas, funneled through a complex web of bank accounts and cryptocurrency wallets. 

Laura D’Allaird, the chief of the SEC’s Cyber and Emerging Technologies Unit, asserts that this case exemplifies a prevalent type of confidence scheme targeting investors and leading to “devastating consequences.” D’Allaird elaborated on the mechanics of the fraud, stating” 

Our complaint alleges a multistep fraud that attracted victims through social media advertisements, built trust in group chats where fraudsters posed as financial professionals, and ultimately led victims to invest their money into nonexistent crypto asset trading platforms where it was misappropriated.

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

Bitcoin is becoming harder for Wall Street to ignore. A report first published by Bloomberg has put JPMorgan back at the center of the cryptocurrency conversation, this time for reasons that would have seemed unlikely just a few years ago. 

The Wall Street giant is now exploring ways to deepen its exposure to Bitcoin and other digital assets through services designed specifically for institutional clients. This represents a notable change in how large financial institutions are approaching crypto as Bitcoin.

JPMorgan Weighs Crypto Trading Options For Institutional Clients

According to sources familiar with the discussions, JPMorgan Chase & Co. is evaluating whether its markets division should begin offering cryptocurrency trading services to institutional clients. The internal review reportedly covers possible spot trading and derivatives exposure linked to digital assets. 

Interestingly, these conversations are still at an early stage, and any eventual rollout will depend on client demand, internal risk assessments, and regulatory feasibility. Even so, the move would represent a meaningful expansion of JPMorgan’s footprint in crypto. 

Although it has yet to delve into crypto trading, JPMorgan has already maintained an active presence in crypto-related initiatives. Now, direct trading access would place it closer to the center of institutional Bitcoin activity. The fact that such options are now being seriously assessed means that large financial players increasingly view cryptocurrencies as assets their clients expect to access through regulated channels.

The timing of JPMorgan’s reassessment is closely tied to recent regulatory developments in the United States. Since the return of Donald Trump to the White House, the regulatory environment around digital assets has become more accommodating. His administration has installed officials seen as more receptive to crypto innovation and has advanced stablecoin legislation aimed at providing clearer rules for the sector. 

A clear example is the appointment of Paul Atkins to lead the US Securities and Exchange Commission, a choice widely interpreted as more constructive for crypto markets. At the same time, there are discussions around the possibility that Trump could nominate Christopher Waller, who is viewed as relatively pro-crypto, as the next chair of the Federal Reserve. 

Additional momentum came earlier this month when the Office of the Comptroller of the Currency clarified that US banks are permitted to act as intermediaries in crypto-related activities. That guidance has eased long-standing restrictions that previously limited how banks could interact with digital assets.

Jamie Dimon’s Shift From Critic To Pragmatist

JPMorgan’s exploration of Bitcoin trading is notable given the history of comments from its chief executive, Jamie Dimon. Dimon has always been one of Bitcoin’s most outspoken critics on Wall Street, describing it as a “pet rock,” questioning its intrinsic value, and repeatedly warning about its potential misuse. Those views positioned him in the camp of names like Warren Buffett and Peter Schiff, who are skeptical of cryptocurrencies as a whole.

Behind the scenes, though, JPMorgan continued building blockchain infrastructure and digital capabilities. Dimon’s tone has shifted toward pragmatism. He has acknowledged that his personal opinions do not override client demand, even if he is not convinced about Bitcoin’s long-term value.

Since the sharp pullback in the price of Bitcoin from its all-time high of $126,000, speculations about a bear market phase have significantly stirred up in the community. After weeks of steady downside price action, several key on-chain indicators are beginning to show that BTC has flipped into a bear market phase.

Network Activity Slows Down Amid Waning Bitcoin Price Action

With Bitcoin’s price persistently demonstrating bearish performance, on-chain activity appears to have undergone a crucial shift. What appeared to be a typical decline is now exposing more profound shifts in on-chain activity, long-term holdings, and traders’ behavior.

Presently, Bitcoin’s network activity is entering a noticeably calmer phase, which provides a clear picture of the market’s current status. In the quick-take post, GugaOnChain revealed the BTC Bull-Bear Cycle indicator and the MA_30D below the MA_365D (-0.52%), both of which confirm that the BTC market remains in a bear market. 

However, the platform’s analysis of the current market state is mainly centered on the Bitcoin Highly Active Address metric. This key metric points to a slowdown in the BTC Network. A look at the chart reveals a steady drop in the highly active BTC addresses, reinforcing lower speculative activity and suggesting that higher volatility lies ahead.

Following the sharp pullback, highly active BTC addresses have declined from 43,300 to 41,500, indicating that large players are exiting the market, consistent with a defensive phase. Historically, whenever highly active addresses shrike, it signals a retreat by traders and institutions, which supports the transition into quiet accumulation phases that lead to future volatility.

Furthermore, the data shows that the total number of transactions on the network has fallen from 460,000 to 438,000 over the past few days. GugaOnChain highlighted that when there is a lower transaction count, there is a reduction in speculative use.

It is worth noting that dropping transaction counts were an obvious symptom of waning speculative interest in previous down cycles, and the Bitcoin network operated at reduced volumes until fresh catalysts emerged. 

Another aspect that has experienced a decline is the network fees. Data shows that the fees fell from 233,000 to 230,000, suggesting a less congested network. During previous bear markets, lower fees often coincided with periods of weaker demand, showing that users were not vying for block space and fostering a low-pressure environment.

How Does The Current Trend Go Against The 2018 Market Cycle

According to the platform, the current data from the metric is similar to that observed in the 2018 bear market. During the period, there were also fewer active addresses, fading transactions, lower fees, and the retreat of major players, as seen in the current state of the market.

However, the Bitcoin user base today is larger, with over 800,000 compared to the 600,000 in 2018; a sign of structural resilience. Meanwhile, low activity frequently precedes increased volatility, just as it did in the past.

GugaOnChain stated that the indicators confirm a defensive scenario, and future comparisons with 2018 indicate that periods of low activity typically precede more volatility. Nonetheless, the larger user base of today indicates increased ecological resilience.

XRP’s recent performance has been underwhelming, with losses across the 14-day, 30-day, and 60-day periods reflecting sustained price stagnation. Yet beneath this muted action, confidence in the asset is quietly building. According to X account Skipper_xrp, institutions and large holders are deliberately positioning capital, absorbing market weakness while anticipating a potential shift in broader dynamics.

The Institutional Push Fueling XRP Optimism This December

One of the clearest strategic drivers of growing confidence is the sustained inflow into XRP exchange-traded products, even as recent price action remains under pressure. XRP has traded lower in the short term, slipping toward the $1.88 level after a roughly 2.3% decline over the past 24 hours, yet this weakness has not deterred institutional allocation. 

Despite the lack of immediate price appreciation, XRP ETFs have continued to attract capital, with total assets under management in spot XRP ETFs surpassing $1.2 billion across U.S.-listed products. Canary Capital’s XRPC currently leads the category with roughly $335 million in AUM, followed by 21Shares’ spot XRP ETF at over $250 million and Grayscale’s GXRP at around $220 million. Bitwise’s XRP ETF and Franklin Templeton’s XRPZ also contribute meaningfully to the category’s depth, collectively pushing cumulative net inflows to more than $1 billion since launch. 

This pattern indicates that institutional investors are not reacting to short-term volatility but are instead building exposure based on medium- to long-term considerations. In traditional markets, steady ETF inflows during periods of price consolidation often reflect strategic accumulation rather than momentum chasing. For XRP, this behavior suggests institutions view current price levels as a favorable entry zone rather than a signal of weakness, given how consistently capital has flowed into regulated vehicles even in the absence of a breakout.  

Whale Accumulation And Reduced Selling Pressure Reinforce The Thesis

Complementing institutional flows is renewed accumulation by large XRP holders, or whales. A recent report shows substantial wallets increasing positions, signaling calculated repositioning rather than reactive trading. This accumulation is notable given the easing selling pressure across the market. Reduced distribution suggests recent sellers have largely exited, allowing stronger hands to control available supply. In such conditions, accumulation is more impactful, as incremental buying can materially shift supply-demand dynamics over time.

However, technical constraints remain part of the equation. XRP continues to trade below key moving averages, levels that often act as structural resistance in trending markets. While this limits immediate upside, it also reinforces the idea that current accumulation is anticipatory rather than reactive. 

Taken together, these factors explain why confidence in XRP is growing without visible price confirmation. Capital inflows, whale accumulation, and declining selling pressure point to a market quietly repositioning. December’s flat price action may reflect a transitional phase, where informed participants align ahead of potential structural shifts in XRP’s trajectory.

Crypto pundit X Finance Bull has alluded to XRP’s tech stack, which he claimed changes everything for the altcoin in the long term. This came as the pundit broke down the XRP Ledger’s consensus flow and why it tops other networks. 

Pundit Shares Why XRP’s Tech Stack Changes Everything

In an X post, X Finance Bull explained that decentralization isn’t just about being public but also about being reliable, which is where he believes the XRP Ledger comes in. The pundit then alluded to the Ledger’s consensus flow, noting that the network reaches consensus in seconds with no central coordinator and no waste. He added that it halts progress instead of confirming data, which the pundit described as “rare and crucial.” 

X Finance Bull then mentioned other chains, which he claimed prioritize incentives unlike the Ledger, which prioritizes “correctness, agreement, and forward progress, in that order.” The pundit claimed that this is why real-world institutions are building on XRP’s tech stack instead of other networks. 

X Finance Bull also stated that these institutions do not care about memes but care about uptime, clarity, and risk management. In line with this, he urged those still “sleeping” on its tech stack to study it, noting that the rails are already live. He added that in the long term, this changes everything for the altcoin. 

The Ledger has continued to introduce new features as it looks to become the go-to network for institutions, which are beginning to embrace blockchain technology. Ripple earlier this year announced plans to introduce more privacy features, noting that this would help boost institutional adoption. 

Built For Regulation

In another X post, X Finance Bull declared that crypto will be regulated and that XRP is already built for it. He remarked that the altcoin didn’t chase headlines but simply mapped its rails into global banking, eyeing major banks long before most assets had a whitepaper. The pundit suggested that the roadmap has even gotten better with the introduction of the RLUSD stablecoin, compliant spot ETFs, and an approved national trust bank for Ripple. 

Meanwhile, X Finance Bull is confident that the CLARITY Act will boost XRP’s adoption. He stated that with the crypto bill next, the altcoin will become the institutional default for compliant on-chain liquidity. The pundit declared that the future isn’t about adoption but about alignment and that the altcoin already fits the puzzle banks are about to complete. He stated in another X post that the price will rip once the bill is passed and adoption kicks in. 

At the time of writing, the XRP price is trading at around $1.88, down almost 2% in the last 24 hours, according to data from CoinMarketCap.

While still trading below the $2 price mark, XRP is currently witnessing multiple bold calls and predictions from several prominent crypto analysts in the sector. The most recent forecast comes from YoungHoon Kim, who has predicted a 4-digit value for the leading altcoin in the long term.

Eye-Catching XRP Forecast From The Smartest Mind

In the ever-evolving world of cryptocurrency, bold predictions are common in the market, but a recent one about XRP is drawing attention for a different reason. XRP struggles with heightened volatility because the state of the market does not seem to have swayed certain analysts, as their forecasts circulate across the sector.

After a period of quiet, an audacious prediction from the world’s highest IQ holder, YoungHoon Kim, is turning heads in the crypto community. In his prediction shared on the social media platform X, Kim is confident that the leading altcoin could potentially reach the $1,000 price mark.

This is a long-term forecast, as the analyst expects the value to be achieved over the next decade. Kim’s prediction of one of the few that suggests XRP’s price will touch $1,000 is generating new discussion about whether this is just another attention-grabbing prediction in a crowded field.

His bold forecast is based on the assumption of a large-scale migration into cryptocurrencies, including a considerable drop in the value of the dollar and high inflation. According to the analyst, it is impossible to rule out the scenario on a numerical level.

The forecast didn’t entirely come as a shock, given the analyst’s renewed conviction in the altcoin. Lately, Kim has been strongly endorsing the altcoin, even comparing it to the likes of Bitcoin and Ethereum, the two largest crypto assets.

He has also predicted that all the capital in the world will be moved into the XRP network, a few days after forecasting that the altcoin will surpass the market cap of Ethereum by 2026. Kim remains an XRP holder and has declared that he will never sell off his coins.

Institutions And Large-Scale Investors Showing Interest In The Altcoin

XRP’s underlying market behavior is telling a more constructive story. Despite waning price movement, Skipper, a crypto enthusiast, highlighted that the altcoin is exhibiting encouraging signs of rising conviction among institutions and large-scale investors. 

The growing conviction is evidenced by the XRP Spot ETFs, which have seen steady inflows, pushing their total assets under management above the $1.2 billion mark. Even while the price of the cryptocurrency has stayed largely stable, there is a lot of institutional interest, which suggests that investors are preparing for possible future changes.

In addition, large whale wallets have witnessed an increase in their holdings once again. Such development signals deliberate repositioning by major players, who are capitalizing on the current pricing situation. While selling pressure may have strongly dropped, the altcoin continues to trade below key moving averages and technical levels that usually act as barriers to upward momentum. 

Financial markets have shown unusual ripples this week, unsettling risk assets and leading to outlooks among analysts about how much volatility might be coming for XRP. One important under-the-surface development feeding that nervousness is an event in Japanese financial markets that has broader implications for funding and leverage across different asset classes. This opens up the possibility of volatility not only now but also potentially into the next few days, and this could echo into volatile price behavior for XRP.

Rise In Bond Yields Changes The Macro Backdrop

Japan’s government bond market has delivered one massive volatility signal in the past few days. Benchmark yields on the Japanese 10-year government bond have climbed above levels last seen during the 2008 financial crisis, topping 1.8 to 2.0% as markets reassess decades of ultra-low interest rates. 

Japan 10 Year Treasury. Source: @Barchart

This huge increase is as a result of a break from the long era of near-zero borrowing costs in Japan that was reflected in global liquidity, encouraging flows into higher-return assets worldwide. However, the surge in Japanese yields is going to unsettle risk markets and tighten liquidity, and this leads to concerns that the effects could ripple through to risk assets such as cryptocurrencies, including XRP.

Expectations of increased volatility are building as several crypto analysts point to the same macro factor developing outside the cryptocurrency market. Among them is crypto analyst Levi, who noted that Japan’s 10-year government bond yield has officially moved above levels recorded during the 2008 financial crisis. In response to that milestone, Levi warned traders to “get ready for XRP volatility next week,” meaning that the bond market move could spill over into crypto pricing.

A similar view was shared by crypto analyst Ted Pillows, who also highlighted the break above the 2008 yield level and cautioned that the next week is likely to be really volatile.

What It Means for XRP Price Action This Week

One major factor of this milestone has been the Bank of Japan’s decision to raise interest rates after decades of ultra-low policy. The BOJ lifted its benchmark short-term rate to around 0.75%, its highest in about 30 years, in response to persistent inflation above its 2% target and stronger wage growth. 

A bond’s yield and price move in opposite directions: when yields rise, bond prices fall. As the fourth largest economy in the world, rising yields in Japan matter in terms of a global perspective because they affect global capital flows and risk sentiment.

This change in global liquidity conditions can feed into XRP’s price movements in several ways. Rising yields means tighter financial conditions, meaning leveraged positions become more costly to maintain. Bonds also offer higher yields, which means investors are less likely to invest in stocks and cryptocurrencies, including XRP.

According to VanEck analysts, Bitcoin’s hashrate fell 4% over the month to Dec. 15. That move has caught the attention of market watchers because past instances of hashrate declines have often come before price gains.

VanEck’s Matt Sigel and Patrick Bush point to historical patterns: when hashrate fell over the prior 30 days, Bitcoin’s 90-day forward returns were positive 65% of the time, compared with 54% when hashrate rose. Numbers matter here, and traders are treating them as part of the evidence mix.

Hashrate Compression Can Signal Recoveries

Reports have disclosed that longer windows look better for bulls. When hashrate contracted and stayed low, the odds of a recovery improved over wider horizons. Negative 90-day hashrate growth was followed by positive 180-day Bitcoin returns 77% of the time, with an average gain of 72%.

The math is clear and the pattern is consistent enough to make investors take notice. Miner economics add to the story: the break-even electricity price on a 2022-era Bitmain S19 XP dropped nearly 36% from $0.12 per kilowatt-hour in Dec. 2024 to $0.077/kWh by mid-December. That shift squeezes margins and forces marginal operators to rethink their rigs.

Miners Exit, Markets Watch

Some capacity has left the network. VanEck tied the recent 4% decline to a shutdown of roughly 1.3 gigawatts of mining power in China. Analysts also warn that rising demand for AI compute could pull capacity away from Bitcoin, a trend they estimate might erase 10% of the network’s hashrate.

That would redistribute mining activity and could concentrate operations where power and policy align. At the same time, support for mining has not disappeared worldwide. Based on reports, up to 13 countries are backing mining activities, including Russia, Japan, France, El Salvador, Bhutan, Iran, UAE, Oman, Ethiopia, Argentina, and Kenya.

Price And Market Context

Bitcoin is trading near $88,600, down nearly 30% from its Oct. 6 all-time high of $126,080. Markets have been quiet around year-end and thin liquidity can hide real momentum.

BTC was monitored as steady near $89K in recent coverage and remained range-bound as traders weighed supply and demand signals. Other cross-asset moves matter too. Gold climbed above $4,400/oz while silver reached $69.44/oz, moves that some investors see as part of a broader safe-haven bid.

The data points suggest a cautious optimism. Miner capitulation has worked as a contrarian signal historically — weaker miners exit, difficulty adjusts, and surviving operators face less near-term selling pressure. That sequence can set the stage for price stabilization and gains over months.

Featured image from Pixabay, chart from TradingView

VanEck is setting expectations for Bitcoin in 2026 with a tone that’s closer to the risk committee than crypto Twitter: the next year looks more like consolidation than a dramatic regime shift.

In its Dec. 18 note, “Plan for 2026: Predictions from Our Portfolio Managers,” Matthew Sigel, VanEck’s head of digital assets research, argues that the signal set heading into 2026 is “mixed but constructive.” The framework is deliberately restrained: volatility has come down, leverage has been washed out in stages, and on-chain activity is still soft but not deteriorating the way it tends to during deeper cyclical breaks.

“Realized volatility has… dropped by roughly half. That implies a proportional drawdown of about 40%. The market has already absorbed roughly 35%.”

Sigel anchors part of the call in cycle structure. He writes that Bitcoin’s historical four-year rhythm, which has tended to peak in the immediate post-election window, “remains intact following the early October 2025 high.” If that template is still operative, 2026 is less likely to be a clean continuation year.

Bitcoin Prediction For 2026: What To Expect

“That pattern suggests 2026 is more likely a consolidation year. Not a melt-up. Not a collapse.” The more interesting part is the “why,” because VanEck isn’t leaning on a single factor. Sigel describes three lenses shaping the outlook, and they are not uniformly supportive. “Global liquidity is mixed. Likely rate cuts provide support. US liquidity is tightening somewhat.”

He ties that tightening to a specific macro dynamic: “AI-driven capex fears” colliding with a more fragile funding market and pushing credit spreads wider. Put differently, even if policy rates drift lower, the broader cost-of-capital environment can still work against risk-taking at the margin — especially where refinancing needs are persistent and investor selectivity is rising.

Against that backdrop, the portfolio guidance is measured. VanEck favors a “disciplined 1 to 3% Bitcoin allocation,” built through dollar-cost averaging, with adds during leverage-driven dislocations and trims into speculative excess. It’s positioning for a market that oscillates, not one that trends cleanly.

Sigel also flags a topic that has shifted from niche to mainstream inside the Bitcoin community: quantum security. VanEck doesn’t present it as an imminent risk to the chain, but it does treat it as an organizing question that could draw serious attention.

“Quantum security has become an active topic. It’s not an immediate threat. A coordinated response could resemble the first blocksize debates.”

That last line matters more than it sounds. The blocksize era wasn’t only a technical dispute; it was a public process that pulled in new stakeholders, forced trade-offs into the open, and hardened long-term norms. VanEck’s suggestion is that, if quantum planning becomes a sustained coordination exercise, it could have a similar “transparent and technically rich” dynamic, messy, visible, and ultimately strengthening engagement.

Where VanEck is most constructive for 2026 is not necessarily spot BTC, but the capital cycle around Bitcoin mining. Sigel argues the strongest opportunity sits in what he calls the “capital-intensive pivot” as operators try to finance both hash-rate expansion and AI/HPC infrastructure simultaneously.

That combination is stretching balance sheets and widening dispersion across the sector: miners with hyperscaler partnerships can raise straight debt on comparatively favorable terms, while weaker names are pushed toward dilutive converts or selling BTC into weakness.

“This creates the cleanest consolidation setup since 2020 to 2021. The best risk-reward is in miners transitioning into energy-backed compute platforms. Credible HPC economics, advantaged power, and financing paths that avoid serial dilution.”

A second opportunity set is digital payments and stablecoin settlement, but VanEck is selective. Sigel sees stablecoins moving into real B2B payment flows, improving working capital management and lowering cross-border settlement costs.

“The more investable angle may sit in fintech and e-commerce platforms that can unlock margin leverage by shifting supplier payments, payouts, and cross-border settlement onto stablecoins. High-throughput chains will support much of this activity, and a few tokens tied to genuine usage may benefit, but we believe the most durable opportunity may lie in the operating companies enabling adoption rather than in broad token exposure,” Sigel writes.

The overall message is not bearish, and it is not euphoric. It is, in a very deliberate way, a call for discipline: expect range-bound conditions, look for dislocations, and focus on parts of the ecosystem where balance-sheet stress and real-world adoption can create asymmetry.

At press time, Bitcoin traded at $87,423.

Featured image created with DALL.E, chart from TradingView.com

Thursday, December 18, 2025 – CoinGecko has recently released its State of Meme Coins report for 2025, and one detail stands out: even when Dogecoin (DOGE) is excluded, dog-themed tokens still control a dominant 39.5% of the meme coin sector.

Against this backdrop, a new project focused on crowd coordination is positioning itself to rally investors around what it calls a once-in-a-lifetime pump. That project is Maxi Doge (MAXI).

As the next phase of the meme coin cycle appears to move away from irony and lean more toward exaggerated, almost absurd sincerity, Maxi Doge fits neatly into that shift. The project uses simple, instantly recognizable branding built around a bulked-up version of DOGE a 240-lb, Red Bull-fueled caricature designed to be immediately identifiable and easy for traders to rally behind at launch.

Time, however, is a key factor. Only 14 hours remain before the current presale price of $0.0002735 increases in the next stage.

CoinGecko data points to a new phase for meme coins

At present, the meme coin sector has a combined market value of roughly $37 billion. This is just a fraction of its peak in the same period last year, when total valuations briefly surged to around $150 billion.

According to CoinGecko’s report, DOGE continues to be the sector’s standout performer, holding a 47.3% market share as of last month. The original meme coin is currently valued at approximately $19 billion, while dog-themed tokens as a whole account for 39.5% of the entire meme coin market.

These figures show that the market still has clear favorites, but they also highlight how the drivers of bullish momentum are evolving. CoinGecko’s own timeline of meme coin waves illustrates this change clearly.

Earlier cycles were shaped by irony, parody, and inside jokes that rewarded those who were “in on it.” More recent waves including Animal Kingdom tokens, AI memes, and PolitiFi coins have been powered by themes that are louder, more literal, and immediately understandable.

In today’s market, nuance has largely been replaced by clarity, and subtle humor has given way to exaggeration. As meme cycles become faster and more fragmented, tokens that fully commit to a clear identity tend to spread more quickly than those that require explanation.

This shift from irony toward what can be described as absurd sincerity is becoming one of the defining features of the current meme coin landscape. Maxi Doge was built specifically for this transition, leaning fully into exaggerated clarity and absurd sincerity to position itself as an instantly recognizable rally point in a meme market that now rewards commitment over cleverness.

Why Maxi Doge Aligns With the New Meme Coin Phase

Maxi Doge doesn’t try to reinterpret meme culture or make commentary on it. Instead, it operates squarely within the meme ecosystem as it exists today.

The project commits fully to one oversized, exaggerated concept and builds everything around making that idea instantly visible, easy to remember, and simple for people to rally behind once the token appears on exchanges.

Its muscle-bound Shiba Inu mascot isn’t meant to be ironic or playful in a tongue-in-cheek way. It serves as a visual shortcut. At a glance, traders understand what kind of token this is and the type of audience it’s designed to attract. That kind of immediacy matters in a market where attention spans are short and momentum can form fast.

This approach goes beyond visuals and carries into distribution as well. By directing a substantial share of presale funds toward marketing, Maxi Doge focuses on presence rather than discovery. Instead of waiting for users to stumble upon it, the project is built to remain visible across crypto social platforms as interest grows.

Rather than positioning itself as a commentary on meme culture, Maxi Doge functions as a direct product of it shaped by how stories spread, how crowds form, and how momentum compounds in the current market cycle.

Second place is loser talk. $MAXI is the only play in crypto. pic.twitter.com/2S0G5KgGir

— MaxiDoge (@MaxiDoge_) November 21, 2025

Why Timing Matters as Meme Coins Enter a New Phase

Maxi Doge is still in its presale stage, but that opportunity may not last much longer. Those looking to secure MAXI at the lowest available price can do so by visiting the Maxi Doge presale site and connecting their preferred wallet. The project points users toward Best Wallet, a widely used crypto wallet that supports purchases via ETH, BNB, USDT, USDC, and even bank cards.

Best Wallet is available on both Google Play and the Apple App Store, allowing users to buy, track, and manage their MAXI holdings from a single, streamlined interface.

Presale participants also have access to passive rewards. MAXI tokens staked through the project’s native protocol currently offer a dynamic 71% APY. On the security side, Maxi Doge’s smart contract has undergone audits by Coinsult and SOLIDProof, verifying the safety and integrity of the code.

Those who want to stay informed can join the expanding Maxi Doge community on X and Telegram.

加密貨幣市場的快速進化雖然帶來了財富契機，卻也伴隨著日新月異的犯罪手法。近期一起令全球幣圈震驚的「地址投毒（Address Poisoning）」攻擊事件，讓一名經驗豐富的資深交易員在轉瞬間失去了近 5,000 萬美元的 USDT。這起天價被盜案不僅揭露了駭客對心理學與區塊鏈技術的精準操控，更為所有投資者敲響了資安警鐘：在追求收益的道路上，哪怕是幾秒鐘的核對疏忽，都可能導致資產徹底清零。

致命的「相似性」：拆解地址投毒的心理陷阱

地址投毒並非傳統意義上的技術暴力破解，而是一種針對人類視覺慣性設計的進階釣魚手法。駭客首先會透過鏈上數據監控目標巨鯨的日常往來對象，隨後利用地址生成工具製造出一個與受害者常用地址極其相似的「假地址」——其開頭與結尾的幾個字元完全一致，僅有中間部分不同。

為了讓這個假地址滲透進受害者的交易視野，駭客會主動發送一筆小額或零價值的交易。這項舉動的目的在於讓假地址自動進入錢包的「最近交易記錄」。當受害者下次準備進行大額轉帳時，若習慣性地從歷史記錄中複製地址，且僅核對首尾幾位數，便會落入駭客預設的陷阱。這起損失 5,000 萬美元的案件中，受害者正是因為過度信任錢包記錄中的「相似外觀」，才誤將巨款匯入了駭客的錢包。由於這類資金往往會迅速透過 Tornado Cash 等混幣平台洗淨，受害者想要追回資金的機會微乎其微。

從守護資產到佈局未來：比特幣 Layer2 的敘事變革

在資安風險頻傳的環境下，市場資金正逐漸向具備更高技術門檻與安全框架的基礎建設靠攏，其中「比特幣 Layer2」已成為 2025 年末最受矚目的賽道。隨著比特幣從數位黃金轉向可編程資產，投資者開始尋找既能繼承比特幣安全性，又能提供高效交易環境的解決方案。在這一波技術浪潮中，Bitcoin Hyper ($HYPER) 憑藉其獨特的技術架構脫穎而出，成為市場公認的黑馬。

Bitcoin Hyper 的核心優勢在於引進了高性能的 Solana 虛擬機 (SVM)。這項創新打破了比特幣主網長久以來的性能瓶頸，讓比特幣生態首次具備了亞秒級的交易處理能力與極低的 Gas 費。不同於傳統的中心化方案，Bitcoin Hyper 採用非託管式的橋接設計，確保資產在跨鏈過程中依然能享有比特幣級別的安全性。這種「比特幣的安全性加上 Solana 的速度」之組合，正吸引著大量避險資金與尋求創新的投資者。

預售近 3,000 萬美元：搶佔 Bitcoin Hyper 上線前的黃金期

Bitcoin Hyper 在預售階段展現了驚人的募資動能，目前已成功籌集超過 2,970 萬美元。隨著主網預計於 2026 年初上線，目前的預售價格定在 $0.013465，被視為進入該生態系統最具競爭力的門檻。為了獎勵早期支持者，項目還提供了高達 39% 以上的質押年化收益，讓參與者在等待代幣正式上線的過程中，能透過鎖倉獲得持續的複利回報。

對於那些經歷過主流幣波動、希望在具備實質技術支撐的基礎建設中尋找機會的投資者來說，Bitcoin Hyper 的出現正好契合了市場對「高性能比特幣生態」的渴求。如果您想深入了解參與流程，可以參考這份詳盡的如何購買 Bitcoin Hyper 教學指南，確保在正確的通道中安全佈局。

立即進入Bitcoin Hyper預售

結論：在風險中尋找確定的成長機會

無論是巨鯨被盜 5,000 萬美元的慘痛教訓，還是 Bitcoin Hyper 募資將破 3,000 萬美元的熱度，都傳遞了一個核心訊息：加密市場正處於高度專業化與技術化轉型的關鍵期。投資者不僅需要培養嚴謹的資安習慣，完整核對每一個轉帳字元，更需要具備辨識高品質項目的眼光。

隨著 2026 年的腳步臨近，比特幣生態的爆發已成為必然趨勢。在確保資產安全的前提下，積極配置如 Bitcoin Hyper 這樣具備底層技術革新的 Layer2 項目，或許是應對市場不確定性、捕捉下一波牛市紅利的最佳路徑。請務必記住，在區塊鏈的世界裡，唯有謹慎與前瞻兼具，才能在巨浪中穩步前行。

 

On Monday, US-based cryptocurrency exchange Coinbase (COIN) announced its tenth acquisition of the year, revealing plans to acquire The Clearing Company, a prediction market start-up.

Coinbase Unveils Ambitious Plans

The announcement comes on the heels of Coinbase unveiling its plans to launch a suite of new products aimed at transforming its platform into a comprehensive financial application. This initiative includes integrating stocks, advanced trading tools, and prediction markets into its services. 

CEO Brian Armstrong envisions Coinbase as a one-stop destination for a variety of trades, from stocks to streamlined futures and perpetual contracts, bolstered by a partnership with Kalshi that emphasizes prediction markets.

The mainstream emergence of prediction markets during the 2024 US presidential race with platforms such as Kalshi and Polymarket taking the helm has sparked significant interest and investment across the broader financial sector. 

This trend is particularly timely as trading platforms are increasingly expanding their product suites to cover multiple asset classes, a necessary adaptation as competition intensifies in the industry. 

Analysts suggest that this shift could help Coinbase reduce its dependence on cryptocurrency trading, especially as new players enter the market.

Prediction markets are expected to enhance engagement on the Coinbase platform, providing a high-frequency product that attracts users beyond traditional crypto transactions. 

Analysts from Benchmark highlighted this potential, noting that prediction markets could encourage greater user interaction with the app.

Following the announcement, JP Morgan analysts remarked that many of the exchange’s new initiatives are designed to encourage customer engagement, an area that has seen limitations in the past.

Although the terms of the transaction have not been disclosed, the deal for The Clearing Company — part of what Coinbase calls ‘the Everything Exchange’ — is expected to close in January 2026. 

Major Platform Overhaul

Among its notable acquisitions this year, Coinbase previously agreed to acquire the derivatives exchange Deribit for $2.9 billion in May and later struck a deal for investment platform Echo, valued at approximately $375 million in October.

Coinbase’s ambitions in trading do not stop with the acquisition of The Clearing Company. The exchange seeks to introduce its version of outcome trading as part of a broader push toward a unified brokerage service that combines traditional assets, derivatives, and blockchain capabilities. 

In line with this effort, the cryptocurrency exchange is launching “Coinbase Tokenize,” an institutional-grade infrastructure designed to facilitate the tokenization of real-world assets (RWAs). 

Beyond retail trading, Coinbase is also broadening its appeal to businesses and developers. The company has announced that Coinbase Business will now be accessible to qualifying customers in the US and Singapore, alongside an expanded API suite that includes services like custody, payments, trading, and stablecoins.

Moreover, the firm plans to introduce “custom stablecoins” tailored for companies needing branded solutions. The exchange is also highlighting its x402 payments standard, aimed at streamlining stablecoin transactions associated with web requests.

On Monday, the exchange’s stock, which trades under the ticker name COIN, closed the trading session at $247.90. 

Featured image from Shutterstock, chart from TradingView.com 

With the Bitcoin price still struggling to surmount $90,000, the $100,000 level seems more like a dream as the year is quickly running to an end. The continuous struggle for the cryptocurrency to break out has caused sentiment to sink deeper into the negative, and with liquidity dropping toward record lows, the chances of a rally above $100,000 are still low. Nevertheless, there are some in the community that believe that Bitcoin can still stage a breakout above this level.

Why Bitcoin Price Could Still Reclaim $100,000 This Month

According to a post by crypto analyst The Penguin XBT on X (formerly Twitter), the Bitcoin price is still looking good from here. This is because the structure remains incredibly clean and continues to look clean across all timeframes, hence showing more bullish tendencies than bearish.

As the price continues to trade inside the range of $86,000 and $89,000, the crypto analyst believes that there is still a chance of a recovery. However, the chances of it going either way are still quite high, and a breakout or breakdown could be the result from here.

In the case of a breakout, then the crypto analyst sees the Bitcoin price climbing above $100,000. More importantly, the analyst believes that this break could still happen this month, with less than two weeks to go before the year ends. The upper end of this breakout is placed above $107,000, where there is still major resistance.

On the flip side of this, where the Bitcoin price breaks down, then the crypto analyst sees a less significant move. This would put Bitcoin as low as $80,000, but with the expectation that there will be some support at this level.

The technical analysis highlights the fact that the Bitcoin price has already played out a clear leading diagonal for Wave 1. With this complete, they expect that the Wave 3 will be underway, something that could possibly trigger the next upward move.

“Structure is doing exactly what it should. No rush here. More patience than action,” the crypto analyst explained in the post. Thus, it is only a matter of time to see how the Bitcoin price moves before mapping out a clear trajectory.

As crypto staking shifts from a niche activity to a mainstream practice, long-standing gaps in U.S. tax policy are coming under closer scrutiny in Washington, with lawmakers warning that unclear and inconsistent rules could discourage participation in blockchain networks and complicate compliance for millions of investors.

Related Reading: Bitcoin Long-Term Holders Stay Resilient, But Profits Haven’t Fully Arrived – Here’s What To Know

With the 2026 tax year nearing, 18 bipartisan House lawmakers have urged the Internal Revenue Service to review staking tax guidance, arguing it results in double taxation, creating administrative burdens and failing to reflect actual economic gains, especially during volatile markets.

Lawmakers Press IRS Ahead of 2026

In a letter led by Representative Mike Carey, lawmakers asked whether any administrative barriers stand in the way of updating staking guidance before the end of the year. They argue that taxing rewards only at the point of sale would better capture actual economic gain while reducing reporting complexity.

The group also warned that current rules may discourage staking participation, which plays a critical role in securing proof-of-stake blockchains and maintaining network resilience.

The timing is deliberate. Several tax provisions are set to expire in 2026, and lawmakers want clarity on staking before broader tax debates take precedence. They also noted that prolonged uncertainty could invite unfavorable court rulings that lock in interpretations through precedent rather than policy.

The PARITY Act and Broader Crypto Tax Reform

Alongside the IRS letter, Representatives Steven Horsford and Max Miller have introduced a discussion draft known as the Digital Asset PARITY Act.

The proposal takes a wider view of crypto taxation, including a de minimis exemption for regulated stablecoin payments used in everyday transactions. Small gains or losses from these payments would generally not be taxed, mirroring existing treatment for low-value foreign currency exchanges.

For staking and mining, the PARITY Act stops short of eliminating immediate taxation but proposes allowing taxpayers to defer income recognition for up to five years.

Supporters say this could provide interim relief while lawmakers work toward permanent clarity. The bill also extends wash-sale rules and certain securities tax provisions to actively traded digital assets, aiming to curb abuse without expanding loopholes.

What Comes Next for Crypto Investors

Together, these efforts signal growing consensus in Congress that crypto taxation needs refinement rather than piecemeal fixes. While no changes are guaranteed, the push to address staking double taxation reflects a shift toward more technical, outcome-focused policymaking.

Related Reading: XRP ETFs Attract Global Pension Funds And Insurers, Canary CEO Reveals

For investors and network participants, the next year could determine whether staking remains burdened by uncertainty or moves toward a clearer, more predictable tax framework.

Cover image from ChatGPT, ETHUSD chart from Tradingview