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

Large Holders Of XRP Are Stepping Back In

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

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

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

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

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

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

Nearly Half Of The Supply In Loss

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

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

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

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

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

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

Ripple’s XRP Ledger Works On Quantum-Resistant Code

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

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

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

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

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

Why Working Towards Quantum-Resistant Transactions Matters

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

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

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

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

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

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

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

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

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

— DEGEN NEWS (@DegenerateNews) December 25, 2025

Trust Wallet Confirms The Hack

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

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

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

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

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

Please note: Mobile-only users…

— Trust Wallet (@TrustWallet) December 25, 2025

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

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

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

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

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

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

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

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

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

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

Market Concentration And Exchange Share

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

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

Crypto: Institutional Pathways Expanded

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

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

Open Interest And Market Swings

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

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

Bitcoin Price Action

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

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

Forced Liquidations

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

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

Featured image from FXLeaders, chart from TradingView

Крупнейший российский госбанк Сбер сообщил, что выдал майнинговой компании АО «Интелион дата» кредит, обеспеченный криптовалютой.

Сооснователь и бывший директор криптобиржи BitMEX Артур Хейс (Arthur Hayes) заявил, что в 2026 году биткоин может достигнуть $750 000. Причина — экономическая политика администрации президента США Дональда Трампа.

Сооснователь и владелец контрольного пакета акций крупнейшей по объему торгов криптобиржи Binance Чанпэн Чжао (Changpeng Zhao) предложил два способа борьбы против мошенничества с подменой адресов криптокошельков.

Changpeng “CZ” Zhao pushed back after a screenshot showing bitcoin at roughly $24,111 on Binance went viral on X, arguing the move was a microstructure glitch on a thin, newly listed BTC/USD1 pair rather than a broader market crash and that the exchange itself “is NOT involved in trades.”

Did Bitcoin Really Crash To $24,000?

The sharp wick appeared isolated to BTC/USD1, a market quoted in USD1, a stablecoin launched by Trump family-backed World Liberty Financial. Within seconds, the pair snapped back toward prevailing bitcoin prices above $87,000, according to exchange data cited by traders sharing the screenshot.

CZ’s explanation was straightforward: on an illiquid order book, a single aggressive order can print an extreme price before arbitrage closes the gap. “This actually shows the exchange is NOT involved in trades. Low liquidity on new pairs means one large market order can spike prices, but arbitrageurs quickly corrected it. No liquidations occurred, as this pair isn’t included in any index.”

The Binance founder shared a breakdown from Head of Business Development of Solv Protocol Catherine Chan who said the move was “a liquidity event,” not a bitcoin collapse. She tied the dislocation to a Binance-and-USD1 promotion offering a 20% fixed APY deposit deal that, she claimed, pushed users to swap USDT into USD1 and briefly drove USD1 to a premium.

“Many users swapped USDT → USD1, pushing USD1 to a 0.39% premium: huge for a stablecoin. Smart money borrowed USD1 on @lista_dao against SolvBTC or SolvBTC-BTCB smart lending markets (~0.5% APY). They either deposited USD1 directly or sold it slowly on spot to meet demand. Then someone thought: ‘Why not just sell via BTC/USD1?’ They used a market order. Problem: BTC/USD1 has very thin liquidity. That market order wiped out most buy orders, briefly causing a very low price,” Catherine explained.

“Arbitrage bots instantly bought it back,” she wrote. “No fundamentals changed. No mass liquidations.”

The episode also picked up a familiar edge of crypto paranoia. One user, Bera (@doomsdart), framed it as a coordinated signal: “Cz and Trump family are telling us what they’re gonna do to our coins. Get ready.” CZ’s reply, by contrast, suggested the opposite — that the speed of arbitrage, and the absence of cascading liquidations, is evidence the venue wasn’t “printing” a market-wide price at all.

For traders, the takeaway is less dramatic than the screenshot implied, but still relevant: new quote-asset pairs can be structurally fragile, and promotions that rapidly concentrate flow into a single stablecoin can leave unusually thin order books in their wake. In that kind of market, a single market order can create a headline before it creates a trend.

At press time, Bitcoin traded at $89,298.

Сотрудники УФСБ и полиции ликвидировали незаконную ферму для майнинга, причинившую ущерб в 5 млн рублей Приаргунскому производственному горно-химическому объединению (ППГХО) имени Е. П. Славского.

Завершился суд над бывшим транспортным полицейским, который в 2022 году взял у задержанных телефоны и перевел себе биткоины на сумму 20 млн рублей. Он получил семь лет колонии.

Разработчики популярного криптовалютного кошелька Trust Wallet подтвердили взлом одной из версий браузерного расширения. По данным блокчейн-детектива ZachXBT, потери пользователей превысили $6 млн.

Индийское управление по борьбе с отмыванием доходов, полученных преступным путем (ED), провело десятки обысков в штатах Карнатака, Махараштра и Дели, в связи с расследованием мошеннического криптопроекта, действующего с 2015 года.

US-listed spot Bitcoin ETFs have shown net outflows in recent days, and that pull of money has added pressure to a market already under strain. According to CoinMarketCap, Bitcoin traded around $88,750 at the time of recent reports, down about 27% from its all-time high of $125,100 hit on Oct. 5.

Reports have disclosed that a record-sized Bitcoin options expiry landed on Friday, Dec. 26, and several analysts say that event effectively “pinned” price into a narrow range — at least until volatility returns.

Market Flows And Options Pressure

According to multiple sources, outflows from major spot ETFs removed a key support for price that helped push Bitcoin higher earlier this year. The Crypto Fear & Greed Index has been in “Extreme Fear” since Dec. 12, which shows how fragile sentiment remains despite product and policy gains.

Options expiries of this size can concentrate bets and push price toward strike clusters. When those contracts roll off, the market often needs a new catalyst to move beyond the band it’s been stuck in.

Strong Fundamentals

Executives managing large Bitcoin treasuries argue fundamentals are solid even as price drops. Strategy CEO Phong Le told a podcast that the market’s long-term picture looks strong and that short-term moves “do what they do.”

“The fundamentals of the market for Bitcoin couldn’t be better this year,” Le said, pointing out that he doesn’t care too much about its short-term performance.

Reports note that Strategy’s market value relative to its Bitcoin holdings, mNAV, has fallen below 1 and sits at 0.93 according to Saylor Tracker. The company’s balance shows 671,268 Bitcoin, with an estimated value of about $58 billion. Those figures underline how a decline in spot price can quickly reshape the math for firms that hold Bitcoin on their books.

Traditional Banks Trying To Catch Up

Le and Strategy’s executive chairman Michael Saylor have been meeting with banks across the US and the UAE, based on his comments, as institutions seek how to adjust to growing client demand and new product types.

According to reports, Galaxy Digital researcher Alex Thorn had said earlier in the year there was a “strong chance” the US government would signal a formal reserve move. US President Donald Trump signed an executive order in March establishing a Strategic Bitcoin Reserve and a US Digital Asset Stockpile, although a fully detailed plan has not been released.

Policy Signals And Market Reaction

Policy support is a clear positive, yet markets do not always respond immediately to regulatory shifts. Signals can lower legal risk and widen access, but they do not always create instant buying. The mNAV reading below 1, plus ETF outflows and a fear reading stuck at “Extreme Fear,” shows there is skepticism about when that demand will arrive. Some players remain methodical, building dollar and Bitcoin treasuries and relying on model-based rules rather than emotion.

Based on reports and market indicators, the picture is mixed. Long-term commitments from firms and clearer policy language point to stronger structural backing. At the same time, short-term flows, options dynamics, and entrenched fear mean price can stay volatile and range-bound. Investors watching both the fund flows and policy calendar will likely decide which signal matters more next.

Featured image from World, chart from TradingView

XRP’s price has spent recent weeks moving without a clear directional breakout. The price action has been mostly bearish, but activity beneath the surface is telling a more interesting story. 

On-chain data shows XRP leaving Binance at a rapid pace, pushing the exchange’s reserves down to around 2.66 billion XRP, the lowest level recorded this year. This movement has garnered the interest of market participants because it is not reflective of the current price action of XRP. Insights from market commentator Stellar Rippler on X help explain why investors should pay attention to the netflows.

XRP Leaving Binance Means Positioning, Not Panic

Exchange netflows often give a clearer picture of market intent than short-term price movements. When reserves drop consistently, it usually reflects strategic decisions by holders. This month, XRP’s netflows are flashing signals that are worth watching closely. 

The steady decline in Binance’s XRP reserves points to deliberate withdrawals instead of emotional reactions. According to commentary shared on X by Stellar Rippler, this type of movement does not correspond with retail panic selling. 

Retail-based fear typically shows up as sudden deposits to exchanges as traders rush to exit positions. What the data shows instead is a controlled and sustained reduction in available exchange liquidity.

This pattern points to holders choosing custody outside exchanges, a behavior commonly associated with long-term allocations. Crypto history has shown that prolonged exchange outflows often occur when investors are confident in long-term demand, not when they anticipate a prolonged downward price action. 

You don’t drain liquidity before bad news. In this context, XRP’s exchange netflows suggest preparation, not speculation.

Why Falling Binance Reserves Matter For Market Structure

Binance is the largest crypto exchange in the world, meaning its XRP reserves represent the most readily available supply for a large portion of active traders. As more and more XRP continues to leave the exchange, the amount of XRP immediately available for spot trading keeps shrinking, gradually tightening liquidity even though the price has not reacted yet. 

Speaking of price not reacting, XRP’s price action has struggled over the past few weeks, repeatedly failing to hold above the $2.00 price level and spending most of the period trading lower around the $1.80 to $1.95 range. Despite this, the data shows that the weak price performance is largely due to broader market outflows across every crypto, not a surge in XRP-specific selling. 

The outflows in XRP exchange reserves are more meaningful when viewed alongside the steady inflows into Spot XRP ETFs, which are yet to record a day of net outflows since their launch. Those ETF inflows suggest institutional demand is increasing under the surface, even though it has so far been outweighed by capital leaving the wider crypto market.