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Единого, всеми признанного события года на крипторынке, пожалуй, не случилось (к новым рекордам цены биткоина уже все привыкли). Опрошенные Bits.media эксперты, не сговариваясь, практически не повторили друг друга в оценке ушедшего 2025-го и своих ожиданиях от 2026-го.

CoinFund President Christopher Perkins is betting 2026 will be defined less by shiny new token narratives and more by balance sheets, regulation-enabled product launches, and the messy maturation of crypto into an industry that buys, sells, and consolidates itself. In a Dec. 31 thread on X, Perkins laid out seven predictions:

#1 Crypto ‘M&A Summer’ And A $25 Billion Deal Year

Perkins’ first and loudest call: 2026 will be “the year of crypto M&A.” He pegged 2025 M&A activity at roughly $8.6 billion in total deal value, then projected 2026 will “reach $25bn,” framing it as a step-change rather than a modest grind higher.

He sketched consolidation pressure across multiple fronts, from “DAT/Labs/Foundation consolidation” to “DAT vs DAT (mNAV reckoning),” plus a two-way bridge between traditional finance and crypto. The direction of travel, in his telling, is straightforward: TradFi firms trying to catch up and crypto firms buying their way into regulated capabilities.

“TradFi → Crypto (ugh, I’m behind and need to catch up),” he wrote. “Crypto (DATs, Exchanges) → TradFi (we need operating companies, securities capabilities and licenses, too!).” He also flagged “Asia→US” as a theme, arguing that a clearer regulatory environment will pull international players toward the US market.

“2021 was stablecoin summer; 2026 is going to be M&A summer,” Perkins concluded.

#2 Stablecoins To $600 Billion

Perkins’ second prediction is a market-cap doubling in stablecoins, “surpassing $600bn (2x).” His reasoning hinges less on retail use and more on issuer economics and market plumbing.

“For every stablecoin, someone is making net interest income. Who wouldn’t want one?” he wrote. “As markets tokenize, you’ll need stablecoins to buy and sell them. Watch the growth accelerate in 2026.”

The subtext is that stablecoins become the default settlement asset for on-chain financial activity—especially if more real-world assets and market structures migrate on-chain—while issuer incentives remain strong.

#3 A $2 Billion-Plus Crypto Hack As A Policy Catalyst

Perkins also forecast a major security event: “A major hack >$2bn will shake confidence, lead to a drawdown and catalyze to policy changes.” He pointed to what he described as worsening trends, citing $3.4 billion in hacking during 2025, “a 51% increase,” then argued the attack surface grows as tokenization and stablecoins bring “hundreds of billions more” on-chain.

He went further than the usual call for better security practices, floating a provocative historical reference as a possible policy direction. “Maybe it’s time for a new change to policy, like Letters of Marque and Reprisal,” he wrote. “Just sayin’….” The implication: if losses scale up, the policy response could become more aggressive—and less abstract.

#4 Regulated Derivatives Return

On market structure, Perkins predicted US crypto derivatives will come “back to the US in a major way,” with a “big battle for marketshare” as “new players enter the space.” Even as he expects the US share of global derivatives volume to triple, he argued CME’s slice of US crypto futures could fall amid broader competition.

His thesis is rooted in regulatory momentum and institutional trading behavior. “Now that the regulatory path is clear, there will be a proliferation of new regulated futures products launched in the US,” Perkins wrote. “As crypto enters its institutional era, demand will be off the charts because basis trading will be their first step. This will breathe life back into alts.”

#5 No Market-Structure Bill

Not everything is acceleration. Perkins’ fifth prediction: a comprehensive market structure bill “will not be passed,” blaming political calendar gravity. “Sorry guys, this one is going to be too difficult. Midterms will take the oxygen out of the room,” he wrote.

#6 New ATHs For Bitcoin And ETH

Despite that, he still expects new highs in the majors, calling for bitcoin at $150,000 and ether above $5,000. “BTC and $ETH will hit ATHs,” Perkins wrote. “BTC hits $150,000; ETH makes passes $5,000. Institutional adoption makes this possible.”

#7 NFTs Return, But Not As Jpegs

Finally, Perkins forecast an NFT revival with a format change. “NFTs will make a comeback, but version 2.0 will not be jpegs,” he wrote, carving out an exception for CryptoPunks while dismissing a broader JPEG-led resurgence. Instead, he expects “financial, non-fungible tokens,” potentially tied to “individualized, tokenized security/yield vaults.”

At press time, the total crypto market cap stood at $2.94 trillion.

After China’s latest move with its Digital Yuan, multiple crypto industry executives have cautioned that the US banks’ push to prohibit all interest payments on stablecoins could give a major advantage to their global rivals.

US Risks Giving China A Major Global Advantage

On Tuesday, Coinbase’s Chief Policy Officer (CPO), Faryar Shirzad, warned the US Congress that banning interest payments on the digital assets could risk diminishing the legislative efforts and victories obtained this year with the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.

In an X post, Shirzad affirmed that “tokenization is the future and the GENIUS Act was a visionary move by POTUS and Congress to ensure US dollar stablecoins issued under US rules would be the primary settlement instrument of the future.”

However, Shirzad noted that the “sobering and timely” announcement by the People’s Bank of China of its plan to pay interest on the Digital Yuan could pose a bigger problem to the US than investors think.

As reported by Bitcoinist, China is about to start paying interest on its Digital Yuan (e-CNY). Deputy Governor at the People’s Bank of China, Lu Lei, recently shared a new framework that will redefine the rules of virtual currency, giving it the same legal status as deposits held at banks.

Under the new framework, commercial banks that manage Digital Yuan wallets will be able to pay interest to clients based on the amount of e-CNY they hold, starting from January 1, 2026.

Based on this, Shirzad cautioned that “If this issue is mishandled in Senate negotiations on the market structure bill, it could hand our global rivals a big assist in giving non-US stablecoins and CBDCs a critical competitive advantage at the worst possible time.”

Stablecoin Rewards: A ‘Matter Of National Security’

Coinbase’s CPO added that although “lobbyists for entrenched incumbents will always fight change,” it’s crucial for Congress to “protect the primacy of the US dollar and the US financial system, “not just incumbent interests.”

Similarly, other crypto executives agreed with Shirzad’s statement, including Coinbase’s Chief Executive Officer (CEO) Brian Armstrong and Variant’s Chief Legal Officer (CLO) Jake Chervinsky.

Armstrong emphasized that US “stablecoins must remain competitive on a global stage. Meanwhile, Chervinsky asserted that banks’ push to ban stablecoin rewards “isn’t just a matter of incumbents seeking a regulatory moat. It’s a matter of national security.”

To the lawyer, revisiting the issue of interest payments on USD-pegged tokens would weaken the victory that the GENIUS Act gave to US dollar dominance worldwide and “hand that win to China.”

Notably, the banking sector has criticized the US’s landmark stablecoin legislation over the past few months, arguing that it has loopholes that could pose risks to the financial system.

The crypto framework, which was signed into law by President Trump in July, prohibits interest payments on the holding or use of payment-purpose stablecoins. Nonetheless, the prohibition only addresses issuers, meaning that it could be “easily circumvented” by exchanges or affiliates providing rewards.

Earlier this year, multiple banking associations across the US sent a joint letter to the Senate Banking Committee urging Congress to amend the law. The banking groups claimed that interest payments would distort market dynamics and could affect credit creation. Therefore, they suggested extending the prohibition to include digital asset exchanges, brokers, dealers, and related entities.

Shirzad, alongside multiple crypto industry players, has rejected these concerns over the past several months, stating that the banking sector’s proposals could threaten to create an uncompetitive environment for USD-denominated tokens.

In October, Coinbase’s CPO slammed the financial institution’s narrative that stablecoins would destroy bank lending, concluding that it “ignores reality” and misreads the crucial moment.

On-chain data shows Dogecoin, Solana, and other altcoins are currently seeing half the weekly Trading Volume compared to the end of 2024.

Dogecoin, Solana, & Others Have Seen A Decline In Volume Recently

In a new post on X, on-chain analytics firm Santiment has talked about the latest trend in the Trading Volume for the various assets in the cryptocurrency sector. This indicator measures, as its name suggests, the total amount of a given token that became involved in trading activities on exchanges over the past week.

When the value of the metric rises, it means trading activity related to the asset is going up. Such a trend can be a sign that interest in the cryptocurrency is increasing.

On the other hand, the indicator going down can imply investors are shifting their attention away from the coin as they are participating in a lower amount of trading.

Now, here is the chart shared by Santiment that shows the trend in the Trading Volume for nine major assets: Bitcoin, Ethereum, Dogecoin, Cardano, Solana, BNB, XRP, Tron, and Chainlink.

As displayed in the above graph, the Trading Volume has witnessed a plunge across the sector over the last couple of weeks. Bitcoin, Dogecoin, and other assets have all shown price consolidation in this period, so the cooldown in trading activity could partly be due to traders getting bored.

Generally, investors like to trade more when price action is “exciting.” Volatile moves like rallies or crashes especially attract attention to the market. In phases of sideways price action, though, interest tends to die down.

There is also another reason behind the recent decline in the Trading Volume besides the price action: the holidays. From the chart, it’s visible that the holiday period at the end of 2024 also saw the indicator have a similarly low value for Bitcoin.

There has been one big difference in market behavior between now and then, however. As the analytics firm has explained:

Ethereum and other altcoins like Solana, Cardano, and Dogecoin were still seeing significant movement. This year, they have less than half the weekly trading volume.

What could be the consequence of this low activity? While hard to say for certain, price action usually tends to be muted when there is a lack of trading interest, as moves fail to build momentum in either direction.

Thus, it’s possible that the current phase of consolidation could stretch for the market, unless some surprise news drops that becomes a trigger for volatility.

DOGE Price

Dogecoin saw a surge to $0.128 earlier in the week, but the memecoin’s price has declined since then as it’s back at $0.122.

Prenetics, the Nasdaq-listed health sciences group backed by soccer star David Beckham, has paused its plan to keep buying Bitcoin for the company treasury.

According to reports, the firm stopped its daily purchases on December 4, 2025, and will hold the coins it already owns rather than add more. The company still retains roughly 510 BTC on its books.

The move comes after a stretch of weak crypto markets and a recent $48 million equity raise that executives say will be used to back its consumer health brand.

Prenetics Halts Daily Bitcoin Buying

According to Bloomberg and other news outlets, Prenetics had been testing a treasury approach similar to models used by other public firms that purchased Bitcoin as a reserve asset.

The company began accumulating Bitcoin earlier in 2025, but management signaled a change in course as market conditions grew harder.

Reports have disclosed that the board and leadership looked at the math and decided pausing purchases would better protect cash and shareholder value while preserving the existing crypto holding.

IM8 Growth Takes Center Stage

Based on reports, a large part of the shift is driven by the rapid growth of IM8, Prenetics’ consumer health and nutrition brand co-founded with Beckham. The company has said IM8 reached over $100 million in annualized recurring revenue within 11 months of operations.

Management has also provided guidance that IM8 could generate about $180 million–$200 million in revenue in fiscal 2026, numbers that have helped persuade investors the business can stand on its own.

The $48 million round completed in October 2025 was seen as funding to both back IM8 expansion and to support the earlier Bitcoin plan; now the emphasis is being redirected.

Market Reaction

Shares of Prenetics have shown relative stability even after the announcement, reflecting some investor support for the health business strategy.

Analysts and market watchers say the company’s decision mirrors a wider reassessment among several firms that had adopted crypto treasury strategies earlier in the year.

Where some companies doubled down, others chose caution as Bitcoin fell from its highs and volatility persisted.

Reports point out that holding the existing 510 BTC lets Prenetics keep potential upside without committing fresh capital while it focuses on product growth.

Featured image from Unsplash, chart from TradingView

Bitcoin has managed to reclaim the $88,000 level, yet it continues to struggle below the key $90,000 threshold, failing to sustain any meaningful breakout since early December. Despite several recovery attempts, upside momentum remains weak, reinforcing a broader sense of indecision across the market.

As fear and apathy dominate investor behavior, a growing number of analysts are now openly calling for a bear market to unfold in 2026, arguing that the current structure lacks the conditions needed for a renewed bullish phase.

This cautious outlook is reinforced by on-chain data shared by top analyst Axel Adler. According to his latest report, short-term holders (STHs) are firmly underwater, with Bitcoin trading well below their average cost basis. The STH Realized Price continues to trend lower, a signal that new demand entering the market is weak and increasingly price-insensitive.

Adler notes that this environment reflects pressure from above rather than outright capitulation. While sellers are active, the market has not yet reached the type of forced liquidation typically associated with cycle lows.

Instead, Bitcoin appears trapped in a prolonged stress regime, where confidence erodes gradually and rallies are sold into rather than followed through. Until short-term holder profitability improves, sentiment is likely to remain constrained.

Short-Term Holder Stress Persists

Adler’s latest analysis of Short-Term Holder (STH) Realized Price highlights why Bitcoin remains locked in a stress regime despite recent attempts to stabilize. The chart compares BTC price with the STH Realized Price—the average cost basis of coins held for less than 155 days—alongside stress indicators and weekly changes in that cost basis.

In this framework, the black line represents Bitcoin’s market price, while the orange line tracks the STH Realized Price. Additional overlays, including the STH Stress Score and weekly percentage changes, help contextualize shifts in short-term positioning.

According to Adler, Bitcoin has traded consistently below the STH Realized Price since October 17, confirming that stress mode remains active. The weekly change in STH Realized Price has stayed in negative territory and recently reached local lows, signaling that short-term holders continue to redistribute coins at lower prices rather than accumulate at higher levels. This behavior reflects weak incoming demand and reinforces overhead pressure.

Price performance across timeframes remains mixed. While Bitcoin has shown modest stabilization over shorter horizons—up roughly 0.9% on the week and 2.3% on the month—the broader picture remains fragile.

The 90-day performance is deeply negative at −26.7%, indicating that stress dominates across all major timeframes. Adler’s forecast model points to continued downside pressure, with an expected weekly decline of around 3% if current conditions persist.

Crucially, the declining STH Realized Price lowers the resistance “ceiling,” reducing the distance required to return to healthier conditions. However, it also underscores persistent weakness in new demand. A meaningful improvement would require the STH Realized Price to stabilize and turn higher while Bitcoin holds current price levels.

Bitcoin Holds Structure But Remains Capped Below Resistance

The weekly Bitcoin chart highlights a market caught between long-term structural support and persistent overhead resistance. BTC is trading near the $88,000–$89,000 zone, a level that has acted as a pivot since late November. While price has managed to reclaim this area, it has repeatedly failed to sustain a breakout above $90,000, signaling hesitation rather than renewed bullish momentum.

From a trend perspective, Bitcoin remains above its 200-week moving average, which continues to slope upward and currently sits well below price, preserving the broader bullish market structure. The 100-week moving average is also rising and has provided dynamic support during recent pullbacks, reinforcing the idea that long-term buyers are still defending key levels. However, the 50-week moving average has flattened and now acts as immediate resistance, aligning with the broader supply zone between $90,000 and $95,000.

After a surge in activity during the sharp correction from October highs, recent weeks show declining volume, suggesting reduced participation and growing apathy among market participants. This environment often precedes a directional move but does not yet favor a clear upside resolution.

Technically, as long as Bitcoin holds above the rising 100-week moving average, downside risk appears structurally contained. However, failure to reclaim the 50-week average keeps the market vulnerable to extended consolidation or a deeper corrective phase before any sustainable recovery can develop.

Featured image from ChatGPT, chart from TradingView.com 

XRP price may be stabilizing above recent lows, but underlying signals suggest the asset remains structurally vulnerable. While short-term price action shows marginal recovery, market analyst Ali Martinez argues that weakening network fundamentals, large-holder distribution, and fragile technical support indicate downside risk has not been neutralized. In his view, if these conditions persist, XRP could still face a sharp drawdown toward the $0.80 region, implying a potential 56% decline from current levels.

XRP’s Weak Network And Whale Selling Undermine Demand

In a series of recent tweets, Martinez outlined multiple converging risks that could push XRP into a deeper decline. Central to his assessment is a visible deterioration in on-chain participation, which he views as an early warning signal for further downside. Daily active addresses on the XRP Ledger have fallen sharply, dropping from roughly 46,000 to about 38,500 within a single week.

This contraction reflects reduced transactional engagement and softer organic demand, conditions that weaken price resilience during periods of broader market uncertainty. In practical terms, fewer active users translate into lower baseline buying pressure, making the asset more vulnerable to sell-side shocks.

Compounding this issue is a notable shift in whale behavior. Martinez highlights that large holders have offloaded more than 40 million XRP over the same timeframe. When high-conviction capital moves to the sell side, it alters supply dynamics quickly, especially in markets already experiencing muted retail participation. Whale distribution typically acts as a leading indicator of trend exhaustion, as concentrated supply entering the market absorbs demand that would otherwise support price stability. Together, declining network activity and whale selling form a reinforcing feedback loop that erodes confidence and increases downside exposure.

XRP Price Faces Elevated Downside Risk

From a market structure standpoint, XRP’s technical setup remains precarious despite modest short-term gains. The asset is currently trading around $1.87, down 8.6% over the past month, even after recovering 0.3% in the last 24 hours and 1.1% over the past week. These incremental rebounds, however, have not altered the broader risk profile. According to Martinez, the $1.77 level represents a critical support zone that must hold to prevent deeper losses.

A decisive break below $1.77 would invalidate the current consolidation structure and expose XRP to its next meaningful support near $0.79–$0.80. This level is not arbitrary; it represents a historically significant demand zone where price previously stabilized after prolonged declines. If selling pressure from whales persists while on-chain activity remains subdued, the probability of testing this lower band increases substantially. In this scenario, the projected move would amount to a roughly 56% decline, aligning with Martinez’s risk assessment.

In sum, while XRP is not in freefall, the asset is operating on thin structural support. Until network activity recovers, whale behavior stabilizes, and key technical levels are decisively defended, XRP remains exposed to a high-impact downside scenario that investors cannot afford to ignore.

Ethereum continues to struggle to regain bullish momentum as apathy and persistent selling pressure dominate the broader crypto market. Price action remains subdued, with ETH failing to sustain moves above key resistance levels, reinforcing the perception that investors are still cautious.

Many analysts argue that the market has yet to fully reset, pointing to weak risk appetite, declining liquidity, and a lack of strong spot demand. As a result, Ethereum, like most major assets, remains trapped in a consolidation phase marked by hesitation rather than conviction.

Despite this gloomy backdrop, a growing group of optimists believes Ethereum could be approaching a cyclical bottom. Their view is based less on short-term price action and more on structural and behavioral signals that tend to emerge during late-stage bearish phases. One of the most notable developments comes from on-chain data.

According to data from Arkham shared by Lookonchain, Bitmine acquired another 32,938 ETH worth approximately $97.6 million just a few hours ago. Bitmine is a large institutional Ethereum-focused entity known for accumulating ETH at scale and deploying it across staking and long-term strategies rather than short-term trading. With this latest purchase, Bitmine now holds roughly 3.357 million ETH, valued at around $10 billion, making it one of the largest known Ethereum holders.

Bitmine Deepens Long-Term Commitment

Ethereum’s near-term price action remains fragile, but institutional behavior continues to diverge from market sentiment. Over the past few hours, Bitmine staked an additional 118,944 ETH, worth approximately $352.16 million, according to data from Arkham reported by Lookonchain. This move follows Bitmine’s recent spot accumulation and reinforces its long-term positioning strategy rather than a short-term speculative approach.

Staking at this scale effectively removes a significant amount of ETH from liquid circulation, tightening available supply on exchanges. Unlike transfers to centralized platforms, staking reflects a high-conviction view that prioritizes yield generation and long-term network participation over immediate liquidity.

For analysts tracking structural supply dynamics, this behavior contrasts sharply with the current price trend, which continues to show limited bullish follow-through.

Despite these developments, the broader market remains unconvinced. Ethereum has struggled to reclaim key resistance levels, and momentum indicators still point to weakness. As a result, analysts are increasingly divided when assessing the outlook for 2026.

Some interpret ongoing institutional accumulation and staking as early positioning ahead of a longer-term recovery cycle. Others caution that macro uncertainty, muted demand, and persistent risk aversion could keep ETH range-bound or under pressure for longer than expected.

In this context, Bitmine’s actions stand out as a signal of long-term confidence, but not necessarily an immediate catalyst. For now, Ethereum’s price remains weak, while the strategic behavior beneath the surface continues to quietly reshape the supply landscape.

Ethereum Remains Range-Bound Below Key Resistance

Ethereum continues to trade in a consolidation range after failing to reclaim higher levels, with price hovering around the $3,000 zone. The chart shows ETH capped below the declining 100-day and 200-day moving averages, which now act as dynamic resistance around the $3,400–$3,600 area. This alignment reinforces the broader bearish structure that has been in place since the November breakdown.

After peaking near the $4,800 region earlier in the cycle, ETH entered a clear downtrend, marked by lower highs and expanding sell-side volume during corrective phases. The sharp sell-off into late November pushed the price toward the $2,800 area, where buyers stepped in to defend support. Since then, Ethereum has stabilized but failed to generate sustained upside momentum, suggesting demand remains cautious rather than aggressive.

Volume has declined noticeably during recent rebounds, indicating a lack of strong conviction from buyers. This behavior is typical of late-stage corrective phases, where price compresses while market participants wait for clearer signals. As long as ETH remains below the 200-day moving average, upside attempts are likely to face selling pressure.

On the downside, the $2,800–$2,900 zone stands out as a key support area. A clean break below this range would increase the risk of a deeper retracement. Conversely, reclaiming $3,300 with strong volume would be the first sign that Ethereum is transitioning out of its current corrective structure.

Featured image from ChatGPT, chart from TradingView.com 

A crypto expert has predicted that 2026 could mark a breakthrough year for XRP, with strong demand and significant price growth on the horizon. He suggests that several market factors and structural developments could align to drive this surge, creating a favorable environment that could position XRP for significant gains and lasting market impact. 

XRP Price And Demand Set To Skyrocket In 2026

In a recent X post, crypto analyst ‘X Finance Bull’ outlined the key catalysts from 2025 that could drive XRP demand and price in 2026. He emphasized that while everyone is watching price action, institutions are closely monitoring custody, compliance, and payment corridors, which are crucial for laying the groundwork for the cryptocurrency’s future growth.

For 2026, the analyst points to several factors that could shape XRP’s price growth and future development. He highlighted XRP Spot ETF  accumulation as a key driver, emphasizing that over 350 million XRP are currently held in ETFs, providing a solid base of regulated institutional ownership. 

X Finance Bull disclosed that XRP ETFs are already attracting institutional capital, reducing liquidity and signaling rising demand for the cryptocurrency as a regulated digital asset. He noted that ETF inflows represent structural buying that often precedes notable price appreciation.

XRP’s supply dynamics are also expected to play a significant role in fueling a price surge. X Finance Bull explained that with fewer XRP available on exchanges, this could create structural pressure that may influence future price behavior. Combined with steady demand, this tightening supply could lay the groundwork for potential price gains in 2026.   

Another major factor highlighted by X Finance Bull is the growing utility of the XRP Ledger (XRPL). The analyst noted that XRPL currently supports stablecoins, tokenization, and institutional DeFi—all features that could drive increased adoption and long-term growth of the cryptocurrency. He emphasized that increasing on-chain activity could drive transactional usage and position XRP as a bridge asset for settlements, liquidity routing, and broader financial infrastructure. 

Other Factors That Could Influence XRP’s Growth Next Year

In his post, X Finance Bull also pointed to XRP’s current market structure as a supporting factor that could drive its price and demand upward. He explained that regulated crypto products, improved global risk sentiment, and the need for faster settlements are encouraging institutional adoption. He also stated that an increase in capital flows often precedes significant price movements, making institutional positioning a critical indicator for future market trends.

In addition, the analyst mentioned Ripple’s expanding institutional infrastructure as a key driver that could boost the XRP price by making it easier for banks, payment providers, and enterprises to use the token. Finally, X Finance Bull noted that the resolution of Ripple’s legal battle with the US SEC has created much-needed regulatory clarity, opening the door for broader adoption and stronger demand. 

Bitcoin (BTC) and Ethereum (ETH) lost their dominance and momentum in the final quarter of 2025 as investors shifted focus to less risky assets. New data shows that several privacy-focused cryptocurrencies quietly delivered significant gains in Q4, standing out during an otherwise cautious period for digital assets.

Privacy Tokens Overtake Bitcoin And Ethereum In Q4

Grayscale, the world’s largest digital asset manager, is ending the quarter with the release of a new report titled “Crypto Sectors Quarterly: A Preference for Privacy.” Published on December 29, the report highlighted investors shifting in Q4 2025, from risk-on assets like Bitcoin and Ethereum to cryptocurrencies with more specific use cases that could withstand market pressure. 

The asset management firm began by noting that Q4 2025 saw a slowdown in crypto momentum after a strong Q3. Overall market returns fell as investors reassessed expectations, but performance varied significantly across segments. While all six crypto sectors outperformed in Q3, they ultimately turned negative in Q4. 

Grayscale noted that only a small group of assets posted positive risk-adjusted returns during the quarter. This was a sharp contrast to the previous period, when large-cap cryptocurrencies such as Bitcoin, Ethereum, Solana, Chainlink, BNB, and Avalanche led the market higher. 

In this challenging environment, the Currencies sector stood out, mainly driven by privacy-focused tokens that offered investors a defensive option. According to the report, privacy tokens were among the top performers and the dominant investment theme in Q4 2025. 

Assets like ZCash (ZEC), Monero (XMR), Decred (DCR), Dash (DASH), Beldex (BDX), and Basic Attention Token (BAT) frequently appeared in the top twenty rankings. Their strong performance reflected growing interest in privacy-focused blockchain solutions.

Notably, narrative momentum played a major role in these gains. Grayscale revealed that increased activity on privacy networks such as ZCash and Dash had supported stronger price action, as users and developers turned to tools that limit public exposure of financial activity. 

Overall, the trends observed in Q4 2025 suggest that privacy tokens were the most dominant performers and could continue to play a key role in shaping the crypto landscape. As volatility rises and market downturns occur, investors may increasingly diversify into other assets to protect their holdings from sharp price swings and uncertainty. 

Why And How Privacy Tokens Outperformed In Q4

In Grayscale’s report, ZCash was highlighted as the leading example of the crypto growth trend for Q4 2025. The network offers optional shielded transactions, and the rising share of balances this year pointed to growing demand for its privacy-focused features. 

Monero, which is the largest privacy crypto network, also outperformed during Q4 by relying on stealth addresses and confidential transaction data. Additionally, Decred drew attention by integrating governance with enhanced privacy via its Coinshuffle++ protocol. At the same time, Dash stood out with its digital payments platform, as daily transactions more than doubled, reflecting growing adoption and demand for private, fast payments. 

Notably, the BAT token benefited from the Brave Browser ecosystem, which surpassed 100 million monthly users in Q4. Meanwhile, Beldex made gains through privacy-focused services, including encrypted messaging, private browsing, and confidential payments. 

Ethereum is showing slight upward momentum once again, but the price still remains below the $3,000 level. Despite the fluctuating price actions in the past few weeks, certain structures and narratives that bolster the leading altcoin’s value are still holding strong, raising the potential for a major upswing.

Rising TVL Reinforces ETH’s Price Foundation

In the dynamic cryptocurrency landscape, Ethereum’s Total Value Locked (TVL) is still emerging as a subtle but powerful anchor for the altcoin’s long-term price stability and the growth of its evolving ecosystem. Over the past few years, this narrative has held strong, bolstering ETH’s price.

While short-term price action still varies with overall market sentiment, ETH’s core value is being reinforced by the consistent concentration of capital throughout the network. Milk Road, a crypto and macro researcher, stated that the price of the altcoin has increasingly tracked the amount of capital that is present on the network.

The development suggests that ETH’s valuation is becoming more structurally supported and less speculative. As a result, the network is maturing to a phase where price floors are primarily determined by utilization rather than hype.

According to the expert, if the TVL expands meaningfully, the network’s economy simultaneously sees noticeable growth. This implies deeper liquidity, stronger collateral base, and more durable demand for block space and the network’s security.

Milk Road highlighted that non-speculative capital, such as stablecoins, treasuries, Real-World Assets (RWAs), and on-chain asset management, are likely the major drivers of the rising TVL. Meanwhile, as the capital flowing from these areas continues to scale, ETH’s floor also rises outside of bull markets.

However, it appears to be more difficult to break into bear markets. It is worth noting that the broader ecosystem’s resilience is strengthened when this occurs, and also improves the long-term valuation anchor.

Why You Shouldn’t Be An ETH Bear

After examining the value of ETH vs. the size of the Ethereum ecosystem chart, Emperor Osmo, a data analyst and researcher, declares that being an ETH bear now is not an ideal choice despite the current bearish state of the market.

Osmo’s bold statement hinges on the major shift in Ethereum network fees. As blockspace becomes commoditized, the expert highlighted that ETH has moved from generating 90% of fees generated by Layer 1s to 2%. Despite this massive shift, the network continues to dominate in TVL and ecosystem growth.

The chart shows that ETH trades are at $353.2 billion while the ecosystem built on top of the network trades at $330 billion, representing a 1.1x premium. According to Osmo, this trend makes the assumption that there is no growth, no value capture, and no liquidity inflows.

At the time of writing, the Ethereum price was trading near the $3,000 mark, after recording a nearly 1% increase over the last 24 hours. Its trading volume is moving in the opposite direction to ETH’s price, dropping by more than 13% in the past day.

The closing stretch of 2025 has prompted the Shiba Inu team to clarify what it views as its final strategic move for the year. Instead of unveiling a price-focused catalyst, the project has chosen to confront recent setbacks head-on, outlining a plan built around responsibility, user restitution, and a tighter operational focus. 

The announcement, which came from SHIB developer Kaal Dhairya, follows months of uncertainty tied to security issues within the Shibarium ecosystem and an unfavorable price action for Shiba Inu.

Shiba Inu Team Addresses A Turbulent Year

In a message to the community, Shiba Inu developer Kaal Dhairya addressed a few things that happened in the Shiba Inu ecosystem this year. Notably, Dhairya described 2025 as one of the most challenging periods that the ecosystem has faced. The most notable event was the exploit connected to Shibarium’s Plasma Bridge, as this exposed vulnerabilities in the Shiba Inu ecosystem and forced difficult conversations around trust and governance. 

Related Reading: Shiba Inu End Of Year Predictions Remain Bearish, High Volatility Expected

According to Dhairya, this episode was the moment that demanded openness and corrective action, setting the tone for what would follow. Interestingly, Dhairya confirmed that leadership figures who were expected to guide the team through the crisis exited without accountability, leaving a smaller core team to handle recovery efforts. 

He also addressed accusations circulating within the community, including claims that authorities were never engaged. He stated he was interviewed by multiple federal agents and handed over all available intelligence gathered during and after the incident.

Dhairya also dismissed requests for public complaint IDs, describing them as pressure tactics from opportunistic actors, noting that the official process is active even if it is not publicly documented.

The update also provides a detailed snapshot of where Shibarium stands from a technical perspective. Core recovery work has largely been completed, with the Plasma Bridge back online under stricter safeguards. Beyond patching vulnerabilities, he also confirmed structural changes aimed at deeper decentralization, one of such being the bridge being decoupled from validators.

Final Play For 2025

The centerpiece of the final 2025 play is the introduction of “Shib Owes You,” or SOU. Every affected user in the $4 million Shibarium bridge exploit in September is going to be assigned an SOU NFT that records the exact amount owed to them and creates a permanent and verifiable claim. 

These NFTs update dynamically as payouts or community donations continue, allowing users to track progress toward being made whole in real time. These SOUs can be merged, split, and transferred for quick liquidity.

The announcement makes clear that in order for SOUs to function, revenue discipline is no longer optional. Projects, platforms, and custodians benefiting from the Shib ecosystem resources are expected to contribute back as an obligation tied to accountability. To make this a reality, hard decisions will be made. Legacy systems that no longer serve the ecosystem’s future could be merged or retired.

Bitcoin’s late-year slump has revived a familiar online refrain that the market is “controlled” and price is being suppressed but Strategy CFO Andrew Kang said the manipulation thesis doesn’t square with Bitcoin’s scale, and that even large, highly liquid public vehicles struggle to move the needle.

Speaking on Natalie Brunell’s Coin Stories in an interview dated Dec. 30, Kang framed recent bearish sentiment as less about Bitcoin-specific weakness and more about how the asset still trades within a broader risk regime shaped by macro uncertainty, rate expectations, and tech volatility.

Is The Bitcoin Price ‘Manipulated’?

Brunell asked Kang to address speculation that Bitcoin has been manipulated “over the last quarter or so,” a narrative some commentators tie to the Oct. 10 liquidation event and the timing of an MSCI memo about potential index methodology changes for digital-asset-treasury companies.

Kang didn’t rule out that some actors may want to influence markets, but he dismissed the idea of a coordinated, systemic suppression plan as implausible at Bitcoin’s current market size.

“I honestly, you know, I think a lot of that comes from things that are fun to talk about,” Kang said. “Could there be minds that think like that? Most likely. But I think for the scale in which we operate, the magnitude of what Bitcoin is today in this market, it’s hard for any one actor to really manipulate the market. And for there to be a systemic sort of plan to do that feels a little far-reaching to me.”

He added that conspiracy narratives often get stapled to Strategy itself including claims that its equity issuance or weekly buying is “why this happened” but argued that the asset has grown beyond any single corporate treasury’s ability to steer price action meaningfully.

“The fact is Bitcoin is such a big asset class now,” Kang said. “Even Strategy has a hard time doing something that impacts it.”

Don’t miss my first sit-down with Strategy CFO Andrew Kang!

We discuss Strategy’s plan to keep accumulating Bitcoin, the asset’s underperformance in 2025, MSCI inclusion, whether there is “market manipulation” and much more. pic.twitter.com/yqGhQHadcW

— Natalie Brunell (@natbrunell) December 30, 2025

The Real Reasons For BTC’s Price Action

Kang repeatedly returned to the idea that Bitcoin remains an “emerging asset,” and that volatility is a feature of its current stage of adoption rather than evidence of hidden hands. He pointed to his own entry point in 2022, a year he recalled as a harsh lesson in downside moves, and argued that today’s sentiment doesn’t look uniquely Bitcoin-driven.

“To me [the sentiment] isn’t Bitcoin specific,” Kang said, describing Bitcoin as still “viewed as a risk asset within a broader macro environment.” He cited uncertainty around Federal Reserve policy and rate expectations next year, while emphasizing that the long-term “intrinsic values” Bitcoiners cite, like finite supply and store-of-value framing, “still persist.”

In one of his most emphatic passages, Kang laid out a sweeping view of Bitcoin’s long-run trajectory as Strategy’s rationale for continuing to raise capital and add to its balance sheet.

“There’s still more upside to Bitcoin. We know it’s going to go from where it is today to, you know, back to $125K, up to $200K, up to a million, up to 21 million one day,” Kang said. “That all still is going to happen. It just is going to happen over a period of time. And there’s going to be volatility associated with it.”

At press time, BTC traded at $88,730.

With multiple milestones and advancements in 2025, the Cardano (ADA) network is ending the year on a successful note. After experiencing periods of growth and drawdowns, a growing number of analysts believe that the leading network could be set for a more successful and bullish 2026.

2026 Will Be The Year Cardano Will Shine

2025 was a turning point for the Cardano network, following key achievements and multiple projects launched on the blockchain within the year. However, with its robust ecosystem and fundamentals, new speculations are that 2026 could be an even better year for the network.

Related Reading: Cardano Founder Reveals “Game Plan” For 2026, But Can ADA Price Still Recover?

In a recent post on the social media platform X, an analyst with the nickname Cardanians has declared that Cardano emerge as one of the dominant blockchain networks in 2026. The prediction is based on a number of structural changes taking place throughout the entire ecosystem, not just hype.

From consistent protocol updates and scalability enhancements to an increase in interest in its governance approach and practical uses, the network is preparing for a bullish 2026. As these pieces begin to align, this forecast is rekindling discussion about whether Cardano’s methodical approach may translate into significant influence during the upcoming market cycle.

Cardanians have outlined some key developments that are fueling the prediction of a dominant 2026. These include Transaction Per Second (TPS) scaling with Leios, Bitcoin Decentralized Finance (DeFi) integration, and the Midnight partner chain mainnet is set to go live next year.

Another major milestone is the fact that the network is currently included in multiple crypto index Exchange-Traded Funds (ETFs). Meanwhile, an ADA ETF launch is already making waves, awaiting approval from the US Securities and Exchange Commission (SEC).

In addition, Cardano is set to have Tier-1 stablecoins, Pyth Oracle, Dune analytics, and more new integrations in 2026. On top of that, the platform stated that the network already boasts the strongest fundamentals in the cryptocurrency and blockchain sector. “These developments will make it impossible to ignore that 2026 will be a good year,” the platform added.

A Surge In DEX Trading Volume

Trading activity on Cardano’s Decentralized Exchanges (DEX) is starting to make headlines after a notable surge, suggesting a major shift in on-chain behavior. As seen on the chart, the network’s DEXes trading volume has reached 417 million ADA in December alone, a sign that traders and liquidity providers could be stepping back into the ecosystem.

Related Reading: 141,000 Transactions: Here’s Why The Cardano Network Is Roaring Back To Life

This surge nearly matches the levels from December 2024, when on-chain trading was at an all-time high. Interesting, the majority of the capital is linked to Midnight (NIGHT) trading. The spike in DEX activity and volume indicates that confidence in Cardano’s DeFi infrastructure is growing, and the network may be entering a new phase of utility-driven growth rather than speculative hype.

Что ждет биткоин в 2026 году? Согласно какому сценарию будут меняться котировки первой криптовалюты? Прогнозы серьезных экспертов — это мы всегда уважаем. Но что если в новогоднюю ночь попробовать довериться сверхъестественному? Bits.media обратилось к картам Таро и сделало свой расклад.

Dogecoin, ASTER, and HYPE are among the tokens that have significant token unlocks over the next week. This comes amid the crypto market downtrend, with these unlocks likely to add more selling pressure on these tokens. 

Dogecoin, ASTER, And HYPE Set For Large Token Unlocks

Tokenomist data shows that Dogecoin has a token linear unlock of 95.06 million DOGE ($11.89 million) from December 20 to January 5, 2026. Meanwhile, ASTER has a token linear unlock of 10.28 million tokens ($7.44 million), also during a similar period as DOGE. 

Fellow Perp DEX token HYPE had a token cliff unlock of 9.92 million tokens ($251.19 million) for core contributors. Solana, TRUMP, SUI, AVAX, and WLD also have significant unlocks during this period.

However, based on clarification from the Hyperliquid team, Tokenomist noted that the unlock dates do not equate to actual claims, indicating that team members won’t be able to sell all these tokens on the day they are unlocked. HYPE for core contributors will be distributed monthly on the sixth, with 12.4 million HYPE set to be unlocked on January 6. These unlocks for Dogecoin and ASTER come amid declines for these tokens. 

The Dogecoin price is down 5% over the last week and 61% year-to-date (YTD). ASTER has traded flat in the last week and is down 53% YTD. However, HYPE is up over 7% in the last week and YTD. Notably, the Hyper Foundation had burned the HYPE in the assistance fund system, which represented about 11% of the token’s circulating supply. 

ASTER and HYPE are also facing increased competition amid these token unlocks. Ethereum-based Perp DEX Lighter just launched its LIT token, which could draw liquidity from ASTER and HYPE. The LIT token is currently trading at around $2.71, according to CoinMarketCap data, and boasts a market cap of almost $700 million.

ASTER Receives Criticism Amid Unlocks

Amid the token unlocks for Dogecoin, ASTER, and HYPE, crypto pundit StrongHedge has criticized ASTER, stating that the tokens are going to one party and will get dumped. The pundit further noted that token inflation is rising sharply and that the chart will continue to fall hard. Furthermore, he described ASTER as just a “useless BNB token” with no relevance to the DEX or its utility, but just for farming retail. 

StrongHedge also claimed that ASTER was never set up to rival HYPE as a perp DEX, stating that it is a “wash trading vehicle.” ASTER isn’t the only token projected to drop amid these token unlocks. Crypto analyst Crypto Tony suggested that Dogecoin could still fall below the psychological $0.10 level. This came as he revealed that he was awaiting big bids down at $0.091. 

ข้อมูลชี้ว่า XRP กำลังสลัดภาพลักษณ์ความเป็นสินทรัพย์แบบนิ่งเฉยออกไป หลังจาก FXRP ส่วนใหญ่ถูกล็อกอยู่ใน DeFi ซึ่งเป็นสัญญาณของกิจกรรมผู้ใช้ที่เพิ่มขึ้น สภาพคล่องที่ลึกขึ้น และโมเมนตัมเชิงบวกที่กลับมาอีกครั้งสำหรับ XRP และ XRP Ledger ผ่านเครือข่าย Flare

ข้อมูลจาก Flare Network หนุนสมมติฐานขาขึ้นที่แข็งแกร่งขึ้นสำหรับ XRP และ XRPL

โมเมนตัมรอบ XRP และ XRP Ledger (XRPL) กำลังแข็งแรงขึ้น หลังข้อมูลออนเชนตอกย้ำกรณีการยอมรับ DeFi อย่างต่อเนื่อง ผู้ให้บริการโครงสร้างพื้นฐานบล็อกเชน Flare Network ได้แชร์ความเห็นบนแพลตฟอร์มโซเชียลมีเดีย X เมื่อวันที่ 29 ธันวาคม โดยโต้แย้งว่าผู้ถือ XRP กำลังมีส่วนร่วมใน DeFi อย่างจริงจัง พร้อมยกเมตริก FXRP อย่างละเอียดที่ชี้ให้เห็นการใช้งานที่เพิ่มขึ้น กิจกรรมผู้ใช้ที่สูงขึ้น และสภาพคล่องที่ลึกขึ้นซึ่งผูกกับสินทรัพย์ที่เชื่อมโยงกับ XRPL

ผู้ถือ XRP มักถูกมองว่าเป็นกลุ่มที่เฉย ๆ และไม่ใช่ผู้ใช้ DeFi แต่ข้อมูล FXRP กลับเล่าเรื่องที่แตกต่างออกไป และมันยังคงเป็นเหรียญคริปโตที่น่าลงทุนอยู่

มากกว่า 80% ของ FXRP ถูกล็อกอยู่ใน DeFi หรือคิดเป็นเงินมากกว่า 124 ล้านดอลลาร์ที่ถูกนำไปใช้งานจริงบน Flare ที่น่าสนใจยิ่งกว่านั้นคือ การเติบโตนี้เกิดขึ้นในช่วงตลาดอ่อนแอ จำนวนผู้ใช้ยังเพิ่มขึ้น เงินทุนยังคงถูกล็อก และการยอมรับเติบโตแบบค่อยเป็นค่อยไป ไม่ใช่การไล่ล่าผลตอบแทนระยะสั้น สุดท้ายแล้วปัญหาไม่เคยอยู่ที่ดีมานด์ แต่อยู่ที่โครงสร้างพื้นฐาน Flare กำลังปลดล็อก DeFi ของ XRP ทีมงานกล่าวเพิ่มเติม

ตามข้อมูลของ Flare ณ วันที่ 30 ธันวาคม FXRP ราว 80% ของอุปทานทั้งหมดถูกล็อกอยู่ในระบบการเงินแบบกระจายศูนย์ คิดเป็นมูลค่าประมาณ 125.8 ล้านดอลลาร์ที่ถูกนำไปใช้งานในโปรโตคอลบน Flare ในสภาพแวดล้อมตลาดที่อ่อนแอ แดชบอร์ดเครือข่ายแสดงว่าอุปทาน FXRP ทั้งหมดอยู่ที่ราว 83.95 ล้านโทเคน โดยมี FXRP เกือบ 67.8 ล้านโทเคนที่ถูกผูกไว้กับแอปพลิเคชัน DeFi

การมีส่วนร่วมของผู้ใช้ยังคงขยายตัวต่อเนื่อง โดยมีผู้ใช้ DeFi มากกว่า 5,800 ราย และผู้ใช้ FXRP คิดเป็นมากกว่า 55.5% ของผู้ถือ FXRP ทั้งหมด กิจกรรมธุรกรรมก็ยังแข็งแรง เกินกว่า 1.2 ล้านธุรกรรม DeFi รวมถึงการสวอป FXRP มากกว่า 1.12 ล้านครั้ง ควบคู่กับการเพิ่มและถอนสภาพคล่องอีกหลายหมื่นครั้ง ข้อความของ Flare วางกรอบพฤติกรรมนี้ว่าเป็นการมีส่วนร่วมที่ขับเคลื่อนด้วยความเชื่อมั่น ไม่ใช่การหมุนย้ายผลตอบแทนเชิงฉวยโอกาส โดยเน้นว่าทุนยังคงถูกล็อกอย่างต่อเนื่อง ขณะที่จำนวนผู้ใช้มีแนวโน้มเพิ่มขึ้นอย่างสม่ำเสมอ

ข้อมูลเพิ่มเติมยังสนับสนุนมุมมองเชิงบวกต่อ XRP และ XRP Ledger ด้วยการแสดงให้เห็นว่าโครงสร้างพื้นฐานได้ปลดล็อกอรรถประโยชน์ที่ก่อนหน้านี้เข้าถึงไม่ได้ FXRP ทำหน้าที่เป็นตัวแทนของ XRP แบบ 1:1 ที่ถูกมิ้นต์ผ่านระบบ FAssets ของ Flare ช่วยให้โต้ตอบกับแอปพลิเคชัน DeFi ที่เข้ากันได้กับ EVM แบบไม่ต้องมีผู้รับฝากทรัพย์สิน ขณะเดียวกันยังเชื่อมโยงเชิงเศรษฐกิจกับสภาพคล่องของ XRP Ledger

นอกเหนือจาก DeFi หลัก ผลิตภัณฑ์ที่เกี่ยวข้องอย่าง stXRP ก็เริ่มได้รับความนิยม โดยมีมูลค่าที่ถูกล็อกมากกว่า 4.17 ล้านดอลลาร์ใน Sparkdex มากกว่า 1 ล้านดอลลาร์ใน Enosys และการจัดสรรเพิ่มเติมใน Kinetic และแพลตฟอร์มอื่น ๆ ภายในโปรโตคอล Kinetic เพียงแห่งเดียว สภาพคล่อง FXRP มีมากกว่า 37.4 ล้านโทเคน โดยอุปทาน FXRP ทั้งหมดมีมูลค่าเกิน 72 ล้านดอลลาร์ และกิจกรรมการกู้ยืมเข้าใกล้ 2.7 ล้านดอลลาร์ ตัวเลขเหล่านี้สะท้อนถึงการทำงานร่วมกันได้และประสิทธิภาพของเงินทุนที่เติบโตขึ้น ซึ่งผูกโยงโดยตรงกับ XRP ข้อมูลย้ำชัดว่าข้อจำกัดด้าน DeFi ของ XRP ในอดีตเกิดจากการขาดโครงสร้างพื้นฐาน ไม่ใช่การขาดดีมานด์ เมื่อ Flare Network ขยายความสามารถสมาร์ตคอนแทรกต์และการเข้าถึง DeFi มากขึ้น XRP และ XRP Ledger จึงถูกวางตำแหน่งมากขึ้นในฐานะเลเยอร์สภาพคล่องที่ขยายตัวได้ และสามารถรองรับการเติบโตของการเงินแบบกระจายศูนย์อย่างยั่งยืน

Bitcoin Hyper ทางลัดใหม่ของ Bitcoin สู่โลก DeFi ที่ใช้งานได้จริง

Bitcoin Hyper ถูกออกแบบมาเพื่อปลดล็อกข้อจำกัดเดิมของ Bitcoin ทั้งเรื่องความเร็วและค่าธรรมเนียม ด้วยโครงสร้างเลเยอร์ 2 ที่ผสานพลังของ Solana Virtual Machine ทำให้ Bitcoin สามารถรองรับธุรกรรมที่รวดเร็ว ต้นทุนต่ำ และต่อยอดสู่ dApps และ DeFi ได้จริง ไม่ใช่แค่แนวคิดบนกระดาษ โทเค็น HYPER ทำหน้าที่เป็นหัวใจของระบบ ทั้งการทำธุรกรรม การสเตก และการกำกับดูแลเครือข่าย ช่วยเปลี่ยนบทบาทของ Bitcoin จากแค่สินทรัพย์เก็บมูลค่า ไปสู่โครงสร้างพื้นฐานทางการเงินที่พร้อมใช้งานในโลกกระจายศูนย์

เมื่อมองจากกระแส DeFi ที่เงินไหลเข้าจริงอย่างกรณี XRP บน Flare จะเห็นชัดว่าปัญหาไม่ใช่ความต้องการของผู้ใช้ แต่คือโครงสร้างที่ยังไม่พร้อม Bitcoin Hyper กำลังเข้ามาอุดช่องว่างนั้น เปิดทางให้สภาพคล่องของ Bitcoin เข้าสู่ DeFi อย่างมีประสิทธิภาพมากขึ้น สำหรับนักลงทุนที่มองหาโปรเจกต์ซึ่งเล่นกับดีมานด์จริงของตลาด ไม่ใช่แค่กระแสชั่วคราว Bitcoin Hyper คือหนึ่งในตัวเลือกที่ควรจับตา เพราะมันกำลังวางตำแหน่งตัวเองเป็นสะพานสำคัญระหว่าง Bitcoin กับโลก DeFi ที่กำลังเติบโตอย่างต่อเนื่อง

ไปยัง Bitcoin Hyper

According to reports, Changpeng “CZ” Zhao said Pakistan could become one of the world’s leading crypto hubs within five years if the country keeps moving at its current pace on rules and adoption.

CZ made the comments during a conversation with Bilal bin Saqib, head of the Pakistan Crypto Council, and his forecast has been picked up by several outlets.

Pakistan Moves Fast To Build Rulebook

Reports have disclosed that Pakistan has already put several pieces in place that could support rapid growth in virtual assets.

The Pakistan Virtual Assets Regulatory Authority (PVARA) has issued initial clearances — so-called No Objection Certificates — allowing global exchanges such as Binance and HTX to register local units and begin preparing full licence applications.

Those steps stop short of final licences, but they open the door for regulated operations inside the country.

A conversation between Changpeng Zhao (@cz_binance), Founder of Binance and Chairman PVARA, @BilalBinSaqib on the future of crypto in Pakistan.

From Pakistan’s potential to tokenization and what comes next for the virtual asset economy.

Timestamps:

– Why Pakistan for Crypto?:… pic.twitter.com/ILGHOMBdWY

— Pakistan Virtual Assets Regulatory Authority (@PakistanVARA) December 30, 2025

Officials And Advisers Lend Credibility

Based on reports, CZ’s role is described as a strategic adviser to Pakistan’s crypto effort, working with local leaders including Bilal bin Saqib.

The state is also reported to be staffing a new Pakistan Crypto Council and to have moved quickly to draft a Virtual Assets Act and related rules. These moves are meant to reassure international players that the market will be governed.

Pakistan could be a crypto leader in 5 years at current pace: CZ

Former Binance boss Changpeng Zhao has praised Pakistan for its speedy crypto adoption in 2025, saying the country is on track to become a crypto leader by 2030.#bitcoin #ethereum

— Insider.Space (@InsiderDotSpace) December 31, 2025

Tokenization And A Big Dollar Figure

Reports show discussions between Pakistan and Binance about tokenizing sovereign assets — government bonds, bills and commodity reserves — with an early figure floated at up to $2 billion.

That project, if carried out, would be one of the biggest sovereign tokenization efforts yet and could attract fresh foreign capital for Pakistan’s treasury.

Stablecoin Plans And A Central Bank Pilot

Based on reports, PVARA officials have said the country will “definitely launch” a national stablecoin as part of the strategy to modernize payments and support tokenized debt.

At the same time, the central bank has signaled work on a pilot central bank digital currency (CBDC). Those twin tracks — a government-backed stablecoin plus a CBDC test — are being watched closely by market participants.

Reports have also highlighted Pakistan’s large crypto user base and its interest in using surplus power for Bitcoin mining and AI data centers.

Some estimates cited by news wires place crypto users in the country at roughly 15–20 million, and officials say parts of the plan are aimed at turning excess electricity into economic activity.

Observers warn that legal steps taken so far include ordinances that need parliamentary approval, and that some measures remain temporary unless passed into law.

The Virtual Assets Ordinance and related rules have timelines attached, which means regulators must follow through fast to lock in investor confidence.

Featured image from Unsplash, chart from TradingView

Основатель и гендиректор финтех-компании Galaxy Digital Майк Новограц (Mike Novogratz) заявил, что все ингредиенты для мощного ралли биткоина в новом году уже на столе, «не хватает только импульса».

According to market reports, BitMine Immersion Technologies acquired roughly $97.6 million worth of Ethereum on Tuesday, buying about 32,938 ETH as investors trimmed positions near the end of the year.

The buy came while prices were subdued, a time some analysts say creates chances for large holders to add to treasuries.

BitMine Adds Millions Of Ether

BitMine’s move was followed by additional activity tied to staking. Reports show the company also staked about 118,944 ETH as part of a plan to earn yield on its holdings.

Those steps pushed public estimates of BitMine’s total Ether holdings to around 4.07 million ETH, with an approximate market value near $12 billion at current prices.

Buying Comes Amid Year-End Selling

2/ Here are our weekly buys by week Weekly ETH buys (by week ending): -12/29/25: 44,463 ETH tokens -12/22/25: 98,852 ETH tokens -12/15/25: 102,259 ETH tokens -12/8/25: 138,452 ETH tokens -12/1/25: 96,798 ETH tokens -11/24/25: 69,822 ETH tokens -11/17/25: 54,156 ETH… pic.twitter.com/80KrtK5uv1

— Bitmine (NYSE-BMNR) $ETH (@BitMNR) December 29, 2025

Based on reports and comments from Fundstrat’s Tom Lee, BitMine timed some purchases to take advantage of what is often called tax-loss selling in the US, which tends to heat up in the final days of the year and can weigh on crypto prices.

Lee said year-end selling—especially from December 26 to December 30—has been a factor pushing certain token prices lower, creating a window for accumulation.

What The Numbers Mean For Investors

The scale of BitMine’s accumulation matters because a company holding more than 4 million Ether can influence market perceptions even if it does not trade frequently.

Reports note that BitMine shifted part of its corporate strategy this year toward an Ethereum treasury, and that move has drawn interest from big-name investors and the wider market. The firm’s staking activity also signals a desire to generate returns beyond price gains.

Market Reaction And Wider Context

Different methodologies were used to interpret the various trading desk reactions to the institutional purchase of bitcoin. Some trading desks indicated that they thought the purchase showed that the institutional investor community continues to be willing to acquire Bitcoin.

In contrast, other trading desks stated that the year-end volatility and the algorithmic sell-offs are obscuring the true level of interest from these institutions.

The exact amounts and timestamps of the transfers were published via on-chain analytics services, and various crypto media outlets covered the exact same information shortly after the trades were detected on the exchanges.

Featured image from Unsplash, chart from TradingView