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Привычные для рынка четырехлетние циклы биткоина уходят в прошлое, уступая место более сложным макроэкономическим и инфляционным закономерностям, заявил председатель правления BitMine и сооснователь инвестфонда Fundstrat Том Ли (Tom Lee).

Two massive Ethereum transactions have just flowed out from FalconX, with Lookonchain linking them to ETH treasury company BitMine.

BitMine Has Received 48,049 Ethereum From FalconX

In a new post on X, on-chain sleuth Lookonchain has pointed out how BitMine appears to have acquired 48,049 ETH from a hot wallet connected to FalconX, an institutional digital asset trading platform.

The coins transferred through two transactions to two different wallets. The larger transfer involved 31,867 ETH, while the smaller one 16,182 ETH. In total, the tokens were worth about $140.58 million at the time that they were transacted.

The moves have come as Ethereum has plunged alongside the wider cryptocurrency sector, with its price dropping below the $3,000 level. Thus, it would appear possible that they are a sign of BitMine buying the dip.

Originally a Bitcoin mining-focused company, BitMine transitioned to being an Ethereum treasury vehicle under the leadership of chairman Tom Lee in June of this year. Since then, the firm has rapidly accumulated the cryptocurrency and has established itself as the “Strategy” of ETH.

On Monday, BitMine published a press release announcing that its holdings reached 3,967,210 ETH. So far, the company hasn’t made any official announcement of the latest buy, but if confirmed, it would take the total reserve past the 4 million ETH milestone.

The firm has set a target of 5% of the total circulating Ethereum supply. At present, the company still has some ways to go before this goal is hit, but at about 3.3% of the supply now sitting in its wallets, it has certainly made significant progress.

With holdings valued at more than $11 billion, BitMine is the second-largest cryptocurrency corporate holder in the world, only behind Strategy. Unlike Michael Saylor’s firm, however, the Ethereum hoarder has its treasury sitting in the red right now. Nonetheless, if the two blockchain transactions correspond to purchases, then it’s a sign that BitMine is still committed to accumulating more.

CryptoQuant community analyst Maartunn has talked in an X post about how the Ethereum price has changed since BitMine started its accumulation spree. It’s visible in the chart that during the initial buying period, ETH witnessed some rapid growth.

Clearly, however, despite continued buying from the treasury company, the asset’s price first flatlined and then declined. “Big buys ≠ sustained momentum,” noted the analyst.

ETH Price

Ethereum managed to make a recovery to $3,400 last week, but the coin has once again gone through bearish momentum since then, as its price has returned to the $2,930 level.

A bipartisan bill introduced on Dec. 15, 2025 would form a national response to rising cryptocurrency fraud, aiming to give law enforcement and regulators new tools to stop scams as they happen.

According to the sponsors, the Strengthening Agency Frameworks for Enforcement of Cryptocurrency (SAFE Crypto) Act creates a coordinated federal effort to detect, track, and shut down illicit schemes that use crypto rails.

Task Force To Target Crypto Scams

The bill would set up a task force that pulls together Treasury officials, federal and local law enforcement, regulators, and private-sector experts to share intelligence and act quickly on threats.

Reports have disclosed that the legislation is pitched as a way to get real-time visibility on suspicious activity and to give local police better technical help when they investigate.

Senators Elissa Slotkin (D-MI) and Jerry Moran (R-KS) are listed as the bill’s proponents. The measure appears in Congress under a title that would establish a “Task Force for Recognizing and Averting Cryptocurrency Scams,” and is referenced by bill number S.3428 in congressional records. As of Dec. 17, 2025, the full legislative text had not been posted on the Congressional site.

Public Education And Local Support

The sponsors say the task force will do more than hunt scammers. It will fund public awareness work so consumers can spot fake investment pitches, phishing schemes, and impersonation fraud.

Local law enforcement would get training and access to blockchain analytics tools, the backers say, so officers can follow illicit funds and identify criminal networks before victims lose large sums.

Industry figures quoted in the announcement said crypto fraud has been large and growing. According to one industry policy lead cited by the sponsors, “Over the last two years, we’ve tracked billions in scams and fraud across the crypto ecosystem.” That warning is a central piece of the case lawmakers are making for faster, coordinated action.

ngl a lot of memecoin etc scammers will probably end up shitting themselves if this goes hard, it fills a regulatory/enforcement gap that many probably assumed is permanent/long-term https://t.co/AdKlzVPh9D

— _gabrielShapir0 (@lex_node) December 16, 2025

Cybercriminals: Panic Mode

Gabriel Shapiro, general counsel at crypto investment firm Delphi Labs, said that if the SAFE Crypto Act is carried out effectively, it could leave crypto scammers scrambling to stay ahead of enforcement.

Shapiro added in a post on X on Tuesday that “scammers will probably end up sh*tting themselves if this goes hard,” stressing that the US attorney general, the director of the Financial Crimes Enforcement Network, and the director of the US Secret Service would be among the senior officials leading efforts to pursue the bad guys.

Why Lawmakers Are Pushing Now

Lawmakers argue that criminals have grown more skilled at using decentralized systems and cross-border services to hide proceeds. The SAFE Crypto Act is being presented as a way to narrow that gap by making public and private responders work from a shared playbook. The initiative is part of a wave of digital currency-related policy moves being discussed in Congress this year.

Featured image from Unsplash, chart from TradingView

Bitcoin is struggling to break away from the bearish market structure that has been in place since late October. Despite several short-lived relief rallies, price action continues to reflect weakness, with bulls failing to reclaim key resistance levels or generate sustained momentum.

As uncertainty and fatigue spread across the market, many participants are questioning whether Bitcoin’s current behavior fits the traditional cycle framework that has defined previous bull and bear phases.

A recent analysis by Darkfost highlights a structural shift that adds important context to this debate. According to the data, the number of active Bitcoin addresses has been in a persistent decline since April 2021. Historically, bullish phases were characterized by a clear expansion in active addresses, as new investors entered the market and on-chain activity surged. This growth typically peaked near cycle tops, followed by a contraction during bear markets as participation dried up.

This cycle, however, looks markedly different. Even during periods of strong price performance since 2022, active addresses have failed to recover meaningfully and continue trending lower. This divergence suggests that Bitcoin’s market structure may be evolving away from a retail-driven, on-chain participation model toward something more concentrated and institutionally influenced.

As Bitcoin attempts to stabilize after weeks of downside pressure, understanding these structural changes is becoming critical. The decline in active addresses may not simply signal weakness, but rather a transformation in how Bitcoin is held, traded, and valued in this cycle.

Active Addresses Signal A Structural Shift In The Market

The analysis suggests that despite Bitcoin’s strong price performance since 2022, on-chain participation continues to deteriorate. Active addresses are once again approaching the lowest levels observed during this cycle, highlighting a growing disconnect between price action and network activity. At the peak in April 2021, Bitcoin recorded roughly 1.15 million active addresses. Today, that figure has nearly halved, sitting near 680,000, a contraction that cannot be ignored.

This decline is difficult to attribute to a single cause. Instead, it likely reflects a combination of structural changes in how Bitcoin is held and accessed. One contributing factor appears to be the rise in inactive addresses. While precise classification criteria vary, the broader trend points toward a stronger long-term holding mentality, where coins remain dormant rather than actively transacted on-chain. This behavior reduces visible network activity without necessarily implying bearish conviction.

At the same time, a portion of market participants may have shifted away from direct on-chain usage altogether. Centralized exchanges, custodial platforms, and financial products such as ETFs offer exposure to Bitcoin without requiring on-chain interaction. As a result, demand for block space declines even as capital allocation to Bitcoin remains significant.

Taken together, the sustained drop in active addresses suggests Bitcoin’s market structure is evolving. The network is becoming less retail-driven and more concentrated, reinforcing the idea that traditional cycle metrics may be losing some of their explanatory power in this environment.

Bitcoin Price Tests Long-Term Support as Structure Weakens

Bitcoin continues to trade under pressure, with the chart highlighting a clear deterioration in market structure. After failing to sustain prices above the $100K–$110K zone earlier in the year, BTC has entered a corrective phase marked by lower highs and heavy selling momentum. The recent move toward the $87K area places price directly on a critical demand zone, closely aligned with the rising long-term moving averages.

From a trend perspective, the loss of the short- and medium-term moving averages is significant. The blue and green averages have rolled over, acting as dynamic resistance rather than support, reinforcing the bearish bias.

Price is now hovering just above the red long-term moving average, a level that has historically defined the boundary between bull market corrections and deeper bearish transitions. A clean breakdown below this zone would materially increase downside risk toward the low-$80K region.

Volume behavior adds further context. Selling pressure expanded notably during the sharp drawdown from the highs, while recent bounce attempts have occurred on comparatively weaker volume. This suggests that dip-buying interest remains cautious rather than aggressive. Structurally, the market appears to be consolidating after distribution, not building a strong base yet.

In the near term, holding the $85K–$88K range is crucial. A failure to defend this area would confirm a broader trend shift, while reclaiming the $95K–$100K region is required to neutralize the current bearish structure.

Featured image from ChatGPT, chart from TradingView.com

Cardano has moved to resolve a governance bottleneck by ratifying an on-chain vote to restore its Constitutional Committee (CC) to functional capacity, a procedural step that matters because the CC is required to evaluate constitutionality and ratify many categories of governance actions, including upgrades, budgets, and parameter changes.

Intersect, which coordinates parts of Cardano’s governance process, said on X: “On the 7th day of GA… We hit the Epoch’s end. DReps at 80%. Stake pools supporting- It looks like we have a new CC. Ratified. Thank you to everyone who reviewed, voted, and wrote rationales,Santa has been notified.”

Why The Cardano Governance Was Stuck

Cardano’s governance model is tripartite: delegate representatives (DReps), stake pool operators (SPOs), and the Constitutional Committee. The CC plays a gatekeeping role: it judges whether on-chain actions are constitutional and ratifies decisions needed for the network to adapt.

That mechanism stalled after an unexpected mid-term departure left the CC below its minimum operational size. The Cardano Atlantic Council retired mid-term in epoch 597, opening a seat and reducing the committee below quorum. The consequence was that the Cardano CC could not ratify key actions, even as the chain continued to operate normally at the protocol level.

The vote asked DReps and SPOs to ratify a newly elected CC member and restore the committee to full capacity. The candidate, Cardano Curia, was selected off-chain through a DRep vote using the Ekklesia tool, with on-chain ratification required to formalize the result.

The governance materials described the restoration as bringing the CC back to seven members and activating a clarified alternate-member process to handle future vacancies with less disruption. Approval thresholds were set at 67% from DReps and 51% support from SPOs. Intersect’s update indicates those thresholds were met as the epoch ended.

Why This Was Treated As Urgent

The vote was framed as more than housekeeping because an undersized CC effectively blocks major governance flows. Without quorum: Treasury withdrawals couldn’t proceed, the Critical Integrations Budget could not pass, hard forks could not be ratified, delaying network upgrades and several categories of governance actions were blocked, leaving only a limited subset able to move forward.

There was also a timing element: delays risk actions expiring, which would force a repeat of the voting process and extend the governance backlog. With the restoration ratified, Cardano’s governance process can resume normal throughput — reopening the path for upgrades, budget approvals, and protocol changes that depend on a functioning Constitutional Committee.

At press time, Cardano traded at $0.38.

Bitcoin is once again testing investor conviction as it struggles to reclaim the $90,000 level, a price zone that has now become a clear psychological and structural barrier. After weeks of choppy price action and repeated failures to sustain upside momentum, sentiment across the market has shifted sharply.

Fear and apathy are increasingly dominant, with a growing number of analysts and participants beginning to call for a broader bear market. For many investors, the narrative has changed from buying dips to questioning whether the cycle has already peaked.

This deterioration in confidence is occurring alongside renewed selling pressure from large, well-capitalized players. According to data from Arkham, two wallets linked to Matrixport deposited a combined 4,000 BTC, worth approximately $347.56 million, into Binance today.

Matrixport is a large digital-asset financial services platform founded by former Bitmain executives, offering products including crypto lending, structured products, asset management, and custody solutions.

Such large inflows to exchanges are closely watched by the market, as they often precede distribution or hedging activity, particularly during periods of heightened uncertainty. While not every deposit translates directly into spot selling, the timing of these transfers adds to the growing sense of caution.

Whether current demand can absorb this supply and stabilize price will likely determine if this phase becomes a deeper correction—or the start of a more prolonged bearish regime.

Exchange Inflows And What They Mean For Bitcoin

Large Bitcoin deposits to exchanges are almost always interpreted by the market as a bearish signal, since they increase the immediate supply available for sale. In most historical cases, sharp spikes in exchange inflows have preceded periods of downside volatility, reinforcing the perception that whales are preparing to distribute into liquidity. However, some investors urge caution when reading this data in isolation, as not every exchange transfer results in spot selling.

In certain scenarios, large inflows can be linked to internal treasury management, collateral rotation, or the opening of hedged derivatives positions rather than outright liquidation. Institutions may move Bitcoin to centralized venues to post margin for futures or options, allowing them to hedge downside risk without selling their underlying holdings.

In other cases, funds prepare liquidity for over-the-counter settlements or cross-exchange arbitrage, activities that do not necessarily translate into sustained selling pressure on the spot market.

Looking ahead, Bitcoin’s price action over the coming months will likely depend on whether these inflows are followed by a clear increase in realized selling volume. If demand continues to absorb supply near the $85K–$86K zone, the market could transition into a prolonged consolidation phase, allowing sentiment to reset.

However, if exchange balances continue to rise alongside weakening spot demand, downside risks remain elevated. In that scenario, Bitcoin may revisit lower support levels before any durable recovery can begin.

Price Tests Critical Long-Term Support

Bitcoin’s higher-timeframe structure shows a clear loss of momentum after failing to hold above prior highs. On the weekly chart, BTC is now consolidating around the $86,000–$87,000 zone after a sharp rejection from the $110,000–$120,000 region. This area has become a critical demand zone, as price is currently hovering near the rising 200-day moving average, which historically acts as a key trend filter during cycle transitions.

The short-term structure remains fragile. Bitcoin is trading below the 50-week moving average, which has started to roll over, signaling weakening upside momentum. Meanwhile, the 100-week moving average is still trending higher and sits below the current price, suggesting that the broader macro trend has not fully broken but is clearly under stress.

From a price-action perspective, BTC is forming a lower high relative to the previous cycle peak, while volatility remains compressed. This often precedes a larger directional move. If bulls fail to defend the $85,000 support decisively, the next downside targets sit near the $78,000–$80,000 region, where previous consolidation occurred.

Conversely, any structural recovery would require a reclaim and weekly close above $90,000, followed by sustained acceptance above the 50-week average.

Featured image from ChatGPT, chart from TradingView.com

Hyperliquid (HYPE) is slowly approaching a decisive governance moment as analysts and market participants reassess the protocol’s long-term outlook against the backdrop of a proposed large-scale HYPE token burn.

After months of declining prices and heightened volatility across crypto markets, attention has shifted from short-term price action to structural changes that could improve HYPE’s supply dynamics and investor expectations.

At the center of the debate is a governance proposal by the Hyper Foundation to formally treat all HYPE held in the Hyperliquid Assistance Fund as permanently burned. While these tokens are already locked in an address without a private key, the vote seeks to codify their removal from performance.

If approved, the decision would mark one of the most significant supply reductions in the protocol’s history, removing more than 37 million HYPE, over 10% of circulating supply, through a validator-backed consensus.

Governance Vote Puts Hyperliquid Supply Structure in Focus

The Assistance Fund accumulates HYPE through an automated mechanism that converts trading fees generated on Hyperliquid’s perpetuals exchange into the native token. These tokens sit in a system address that has never been controlled by a private key, making them inaccessible unless a protocol-level upgrade is authorized.

Under the current proposal, validators are being asked to establish a binding social consensus that no such upgrade will ever occur. Voting is stake-weighted, with validators signaling their positions by December 21, and final results are expected on December 24.

Approval would effectively lock in a more restrictive supply model, preventing the Assistance Fund from being used for grants, liquidity support, or emergency measures in the future.

The proposal follows earlier, unadopted discussions around broader supply cuts in 2025, suggesting a renewed effort to clarify HYPE’s long-term monetary framework rather than pursue incremental adjustments.

Market Reaction and Longer-Term Outlook

Hyperliquid (HYPE) has stabilized near the $26 level after several days of losses, with market data suggesting the proposed burn is not yet fully priced in. Futures open interest has climbed above $1.5 billion, and funding rates have turned positive, pointing to growing bullish positioning ahead of the validator vote.

In contrast, spot market activity remains muted, as trading volumes have edged lower and technical indicators continue to reflect lingering bearish momentum.

Beyond short-term price action, analysts are increasingly focused on Hyperliquid’s longer-term valuation framework. Cantor Fitzgerald has cited the protocol’s fee-driven and deflationary design as a potential driver of sustained growth, projecting billions in annual fees if adoption expands.

From this perspective, the Assistance Fund burn is seen as a test of whether stricter supply discipline can help rebuild confidence, with the vote outcome likely shaping how Hyperliquid’s economic model is evaluated into 2026.

Cover image from ChatGPT, HYPEUSD chart from Tradingview

Grayscale, one of the world’s largest digital asset managers, outlined its 2026 Digital Asset Outlook, projecting that the Bitcoin price could reach a new all-time high in the first half of 2026. The forecast is based on structural changes in market design, expanding institutional participation, and broader macroeconomic forces. These developments form the foundation of Grayscale’s view that capital structure and demand dynamics will define Bitcoin’s next market phase.

Institutional Capital Redefines The Bitcoin Price Growth Curve

A central pillar of Grayscale’s outlook is the transition of Bitcoin from a retail-led asset to an institutionally supported financial instrument. The firm argues that the market is entering a phase where large allocators, including asset managers, advisory platforms, and long-term capital pools, are no longer evaluating Bitcoin as an experiment but as a portfolio component. This shift fundamentally alters demand behavior, replacing short-term trading flows with measured, strategic allocations.

Grayscale highlights that regulatory progress and clearer market rules are reducing friction for institutions that previously remained sidelined. As operational and compliance barriers fall, capital that once avoided digital assets due to uncertainty can now enter with greater confidence. This gradual but persistent inflow model creates sustained upward pressure on price rather than sharp, unstable spikes.

Crucially, Grayscale notes that institutional exposure to Bitcoin remains relatively small compared to traditional asset classes. From a portfolio construction perspective, this leaves significant room for expansion. Even modest increases in allocation percentages can translate into meaningful demand, especially given Bitcoin’s fixed supply. The firm views this imbalance between potential demand and limited issuance as a key reason price discovery is expected to continue upward into 2026.

Macro Pressures And Supply Dynamics Set The Stage For New Highs

Beyond institutional adoption, Grayscale’s outlook identifies macroeconomic conditions as a key driver shaping Bitcoin’s next phase of price expansion. Elevated sovereign debt, currency dilution, and persistent inflation risks are directing capital toward assets with transparent and finite supply. In this context, Bitcoin’s fixed issuance schedule reinforces its role as a macro-aligned asset.

This macro framing also underpins Grayscale’s reassessment of Bitcoin’s traditional four-year market cycles. As the asset integrates further into mainstream finance, the firm argues that historical, halving-centered models are losing relevance. In their place, Bitcoin’s valuation is increasingly influenced by liquidity conditions, market access, and investor behavior aligned with other macro-sensitive assets. This transition signals a market responding to structural inputs rather than repeating legacy patterns.

Supply dynamics further strengthen this view. As issuance slows and long-term Bitcoin holders retain more coins, market liquidity tightens. Combined with expanding demand channels, this creates an environment where price appreciation is supported by structural fundamentals rather than episodic surges.

Grayscale’s analysis indicates that these factors could drive Bitcoin to a new all-time high in early 2026. Considering the current all-time high of $126,198.06, the outlook positions the next phase of price discovery as a continuation of market maturation, supported by disciplined supply and macro alignment.

Solana (SOL) is approaching a decisive moment as its price drifts closer to the psychologically important $100 level, caught between weakening market momentum and a series of structural changes unfolding across the network.

Related Reading: Here Are The Meme Coins With Over 100% Rallies While Dogecoin And Shiba Inu Struggle

After more than a year trading within a broad range, recent price action suggests that the long-standing balance between buyers and sellers is under strain. At the same time, macroeconomic uncertainty and technical upgrades are reshaping how investors assess risk around the asset.

SOL has spent much of 2024 and 2025 oscillating between major support and resistance zones, but recent attempts to rebound have been increasingly shallow. Price is now hovering just above key demand areas, with traders closely watching whether these levels can continue to absorb selling pressure.

Solana Price Near Key Support as Bearish Signals Build

From a technical perspective, Solana has slipped toward the lower end of its multi-month range, from $145 to $120. Momentum indicators remain weak, with relative strength measures remaining below neutral levels and trend indicators indicating continued downside pressure.

Repeated failures to reclaim former support zones have shifted attention to the $120–$125 area, which has acted as a floor several times in recent months.

A decisive break below this band could expose SOL to a move toward the $100 region, where historical demand clusters sit. Some analysts warn that if selling accelerates and liquidity thins, the price could overshoot that level before stabilizing.

Others note that volume has declined alongside price, suggesting hesitation rather than panic, which leaves room for a short-term bounce if buyers step in.

Macro Signals Add to Uncertainty

Broader economic conditions are adding another layer of complexity. Rising U.S. unemployment and expectations of further Federal Reserve rate cuts have kept markets divided. Lower rates have historically supported crypto assets by improving liquidity, but mixed signals from policymakers have limited risk appetite so far.

For Solana, this means macro optimism has yet to translate into sustained inflows. Traders appear reluctant to commit heavily until there is clearer guidance from the Fed. A dovish shift could support a relief rally, while a pause in easing may reinforce downside risks and keep SOL pinned near current levels.

Network Resilience Meets Long-Term Transition

While price struggles, Solana’s network continues to evolve. The blockchain recently withstood one of the largest DDoS attacks recorded, maintaining transaction speeds with minimal disruption.

Separately, the Solana Foundation has begun testing post-quantum cryptographic signatures, signaling preparation for long-term security challenges.

Related Reading: Bitcoin Speculative Activity Cooling Fast: IFP Shows Steep Slide

These developments underline improving infrastructure resilience, but they have not yet offset near-term market pressure. For now, SOL’s outlook hinges on whether buyers can defend key support as macro conditions and technical signals converge. A clear break or rebound near $100 is likely to define sentiment into early 2026.

Cover image from ChatGPT, SOLUSD chart from Tradingview

XRP has recorded another win as institutional investors continue to adopt the altcoin. The CME exchange announced that it has rolled out another XRP product, which could boost its adoption and drive more inflows into its ecosystem. 

CME Launches Spot-Quoted XRP Futures

In a press release, the CME announced that it has launched Spot-Quoted XRP and SOL futures, which it stated will complement the existing Spot-Quoted Bitcoin and Ethereum futures already on the platform. The derivatives exchange further revealed that these products are available to trade across the four major U.S. equity indices. 

CME also noted that the Spot-Quoted XRP futures contracts allow investors to trade futures positions in spot-market terms with the added benefit of a longer-dated expiry. It is worth mentioning that the exchange had launched its XRP futures earlier this year, a product which it has on several occasions revealed has gained a lot of interest. 

CME specifically revealed that the XRP futures contracts were the fastest contract ever to reach $1 billion in open interest. Meanwhile, the exchange had, in October, rolled out options trading for the XRP futures amid the significant demand they were seeing. The launch of the Spot-Quoted product provides another boost for the altcoin, which could see more institutional flows into its ecosystem. 

XRP has also seen demand in the spot market as the spot ETFs recently became the fastest to reach $1 billion in assets since Ethereum. SoSo Value data shows that these funds currently hold $1.16 billion in net assets, which accounts for almost 1% of the altcoin’s market cap. These funds, as a group, have also recorded a cumulative net inflow of just over $1 billion, highlighting the demand for them in just over a month since the first XRP ETF launched.  

Ripple CEO Spotlights Institutional Demand For XRP

In an X post, Ripple CEO Brad Garlinghouse highlighted institutional demand for XRP, noting that these funds have yet to record a daily net outflow since launching on November 13. These funds have also outperformed the Bitcoin and Ethereum products, as they continue to see mixed flows. Meanwhile, the Solana ETFs are behind in net assets, despite launching before XRP.

Ripple executive Reece Merrick also echoed a similar sentiment to Garlinghouse, stating that this was “clear institutional demand” for the altcoin. Meanwhile, the funds have also continued to see demand globally, with a CoinShares report revealing that XRP investment products took in $46.91 million last week. They have now recorded a month-to-date net inflow of $292 million, only behind Bitcoin and Ethereum. 

At the time of writing, the XRP price is trading at around $1.91, up over 2% in the last 24 hours, according to data from CoinMarketCap.

Recent fund flow data across US-listed crypto investment products is revealing a notable divergence in investor behavior, as Ethereum-focused funds continue to shed billions in capital, and XRP-linked products are recording steady inflows that now place them among the strongest performers in the Spot crypto ETF market. 

Data from SoSoValue shows that this divergence has persisted for the past month, showing that investors are beginning to favor XRP’s regulated crypto exposure over Ethereum.

Ethereum ETFs See Billions Exit In One Month

According to SoSoValue data, Ethereum Spot ETFs have experienced sustained capital outflows over the past four weeks, with cumulative net outflows since the beginning of November coming in at $1.725 billion. November alone accounted for $1.42 billion of those redemptions, making it the worst month for Ethereum ETF flows since the products launched in the US in July 2024.

The intensity of the selling was evident across several trading sessions during November, where  daily outflows exceeded $250 million on a few occasions. This negative momentum has carried into December with little sign of stabilization. Spot Ethereum ETFs have extended their outflow streak, with the most recent two trading days alone recording net redemptions of $224.78 million and $224.26 million, respectively. 

At the same time, Ethereum’s Spot price has struggled to gain traction. The continued ETF outflows have coincided with muted price action, with ETH failing to hold above $3,000.

Rather than seeing rotation between Ethereum products, the data shows capital leaving the Ethereum ETF complex altogether. This pattern means that investors may be reallocating funds away from ETH exposure into other assets, and XRP is showing the strongest conviction.

Spot Ethereum ETF Flows. Source: SoSoValue

XRP ETFs Record $1 Billion In Consistent Inflows

The first U.S.-listed Spot XRP ETF was launched on November 23, and the momentum has been positive since then. At the time of writing, there are now five Spot XRP ETF issuers in the US, and they have yet to have a collective day of outflows. 

In contrast, XRP-linked spot ETFs have posted a full month of uninterrupted net inflows. This comes up to 22 consecutive trading days, with a cumulative inflow of $1.01 billion since launch. This, in turn, has pushed total assets under management to around $1.16 billion as of December 16. 

Spot XRP ETF Flows. Source: SoSoValue

Ripple CEO Brad Garlinghouse described the growth of XRP ETFs as a signal of broader structural demand for regulated crypto products. He recently highlighted that XRP became the fastest crypto spot ETF since Ethereum to surpass $1 billion in assets under management in the US. This shows institutional crypto investors are switching sides from Ethereum to XRP. 

The divergence becomes even more pronounced when compared with Bitcoin, which has always dictated the pace of general inflows. According to data from SoSoValue, Spot Bitcoin ETFs are on a combined outflow of $3.915 billion since the beginning of November.

Spot Bitcoin ETF Flows. Source: SoSoValue

What makes these numbers more interesting is that they are coming at a period of bearish price action for the entire crypto market, with the XRP price even breaking below the $2 support level. 

Solana’s price may be slowly regaining upward momentum once again following weeks of bearish action due to the volatile condition of the broader cryptocurrency market. While the price may have displayed weakness during the period, the SOL network appears to be holding strong even with waning on-chain activity.

Interest In Solana Bolstering The Network’s Dominance

In the blockchain sector, many analysts consider the Solana network as the apex of all blockchains due to its robust and fast performance. According to recent data, the blockchain continues to stand out from the rest of the cryptocurrency market, even as the hysteria over meme coins slowly fades away.

CryptoRank, a leading crypto industry researcher and data analytics platform, shared the data in a recent post on the social media platform X. Short-term traders may be moving away from viral tokens, and speculative activity may have decreased, but Solana’s core indicators reveal a very different picture.

Interestingly, on-chain gambling and meme mania are frequently linked to SOL, but the network continues to outpace other chains in a fading meme market. This discrepancy indicates that Solana is well-positioned as market conditions change since its strength is increasingly based on fundamentals rather than speculation.

As seen in the data shared by the platform, Solana remains at the number 1 spot across most major blockchain metrics. This position highlights SOL’s resilience even as the meme narrative cools off and traders reduce their risk in the face of bad market circumstances. 

Given the fading meme narrative, the total daily Decentralized Exchange (DEX) traders have now dropped from their peak of almost 5 million to approximately 514,000. Despite this drop, the blockchain is still maintaining strong results, which shows that it does not rely only on memes.

Currently, CryptoRank states that institutions are demonstrating more attention and interest in SOL for tokenization. These large firms are including the blockchain in their platforms, which proves its increasing dominance.

SOL Leads In 2025 With The Most Traffic Market Share

After robust network usage, developer traction, and capital flows, Solana has secured the top spot in the Mindshare War in 2025. A report from CryptoRus reveals that SOL is the most talked-about blockchain in the world. 

According to CoinGecko’s data, it marks the second year in a row that the blockchain has come on top. The study examined interest in blockchain ecosystems using data from CoinGecko’s global web traffic between January 1 and December 14, 2025. Solana now controls about 26.79% of global crypto mindshare, which is more than that of Ethereum and Base networks put together.

CryptoRus highlighted that this is not price, nor narratives pushed by Venture Capitalists (VCs). Rather, this is where attention builders, users, and culture actually reside. “Mindshare comes before liquidity, attention comes before capital, and history shows whoever wins mindshare, eventually wins the cycle,” CryptoRus added.

XRP’s price action in recent weeks has been deprived of bullish momentum, and the derivatives market is also sending clear signals that traders are scaling back their exposure to the cryptocurrency. 

Data from on-chain analytics platforms like CryptoQuant and Coinglass across leverage and futures activity shows that speculative participation has thinned out considerably, with XRP’s leveraged trade ratio at its lowest point since November 2024.

XRP Leverage On Binance Drops To Multi-Year Lows

One of the clearest signals of the sentiment among traders comes from CryptoQuant data tracking the Estimated Leverage Ratio of XRP on Binance, the world’s largest crypto exchange. 

The Estimated Leverage Ratio measures how much borrowed capital traders are using relative to exchange reserves. High readings of the ratio usually mean high activity trades where traders are willing to open positions. On the other hand, declining values indicate that traders are closing leveraged positions or avoiding them altogether. 

According to data from CryptoQuant, the estimated leverage ratio for XRP is currently sitting around 0.187, its lowest reading since November 2024. To put this in context, the estimated leverage ratio was at a 0.59 reading in July 2025, right when the altcoin was pushing toward new all-time highs and trading activity was at its peak.

Therefore, the current low means that the token has moved into a de-risking phase, and traders are prioritizing reduced exposure over aggressive upside bets. This is in contrast to the performance of Spot XRP ETFs, which have been on a streak of inflows. 

Futures Open Interest Collapses From July Highs

A similar story of crypto traders no longer betting big on XRP can be seen from the futures data from Coinglass. 

Data from Coinglass figures show that Exchange XRP Futures Open Interest is currently around 1.81 billion XRP, which is worth approximately $3.47 billion. This number is notable because open interest was around $10.94 billion in July during the cryptocurrency’s march to a new all-time-high price of $3.65. Therefore, the 68% decline from $10.94 billion to $3.47 billion is a massive contraction in speculative participation across derivatives markets.

Open interest tracks the total value of outstanding futures contracts and is also a direct gauge of trader engagement, comparable to the estimated leverage ratio. Rising open interest alongside price strength usually confirms bullish trend momentum, while falling open interest shows traders are closing positions and fading appetite for futures contracts. 

Interestingly, the decline seen in this metric since July indicates that traders have largely exited leveraged positions rather than rotating from longs to shorts. 

A positive reflection from the combination of these two data points is that the token is no longer dominated by aggressive speculative flows, which lowers the risk of cascading liquidations, but it also removes a major source of bullish momentum for the cryptocurrency.

Bhutan has pledged up to 10,000 bitcoin — roughly $1 billion — to back the development of Gelephu Mindfulness City, a new special economic zone the crown is promoting as a hub for sustainable industry and jobs.

Reports have disclosed the allocation was announced on national day and framed as a long-term commitment to fund the city’s growth rather than a quick selloff of reserves.

King Announces Bitcoin Allocation

According to King Jigme Khesar Namgyel Wangchuck, the pledge is meant “for our people, our youth, and our nation,” and aims to make every Bhutanese “a custodian, stakeholder, and beneficiary” of the project. The statement linked the Bitcoin allocation directly to the government’s plan to support economic opportunity inside Gelephu.

Bhutan and Cumberland DRW have signed a multi-year MoU to build a responsible digital asset ecosystem in Gelephu Mindfulness City, guided by the vision of His Majesty King Jigme Khesar Namgyel Wangchuck.

The partnership focuses on sustainable digital asset infrastructure,… pic.twitter.com/IJR7t3oHYl

— gmcbhutan (@gmcbhutan) December 15, 2025

Plan For Digital Reserves

Based on reports, officials say the 10,000 BTC will be held with an eye toward preserving value while generating returns through careful, risk-managed strategies — not by liquidating the holdings immediately.

The government has also signed a multi-year memorandum of understanding with market maker Cumberland DRW to help build digital-asset infrastructure and explore reserve management, stablecoins, and renewable energy-based mining inside the zone.

City Details And Goals

The Mindfulness City covers a very large area and has been pitched as an economic response to youth emigration, low birth rates, and lagging jobs.

Reports from earlier coverage describe the plan as a mix of green energy, tech, tourism, and regulated finance, with space set aside for vetted businesses and infrastructure projects such as an airport and dry port. the project’s promoters present it as a way to create higher-value work without abandoning Bhutan’s environmental and social aims.

Partnerships And Practical Steps

Officials say the partnership with Cumberland will focus on building market access and institutional-grade operations for the city’s crypto activities, including experimenting with a national stablecoin and sustainable mining tied to renewable power. Local leaders have sought legal and investment partners to give investors a clearer route into the zone’s projects.

Global Implications And Risks

Analysts note this is one of the larger sovereign moves toward using bitcoin as a development tool, and the pledge raises clear questions about governance, transparency, and the possible exposure of state coffers to crypto price swings.

Reports flag both opportunity and risk: the funds could underwrite major projects, but they also require careful oversight to avoid losses that would hurt public services.

Featured image from Visit Bhutan, chart from TradingView

Крупнейшая криптовалютная биржа мира Binance намерена расширить доступ к американскому крипторынку и возобновить работу после рекапитализации американской дочерней площадки Binance.US.

 

Seasoned Bitcoin Holders Are In Distribution Mode

Bitcoin’s price action is shifting, and so is the sentiment of investors, especially the long-term BTC holders. The development carries weight in the market because these holders are often considered the most patient and conviction-driven players in the crypto sector.

Following a research of the BTC Long-Term Holder Flow metric, IT Tech, an on-chain analyst and author at CryptoQuant, revealed that these investors are unloading their coins. This time, they are unloading into strength, triggering questions about BTC’s next price direction.

As seen on the chart, coins that have been hoarded for years are increasingly returning to the market during times of price strength rather than panic. Such a tendency suggests either the locking in of profits following an extended rise or a phase of strategic distribution among the cohort.

Furthermore, the chart shows a rise in long-term holders’ distribution in the 30-day time frame. According to the expert, this 30-day rise in LTH distribution is one of the biggest in the previous 5 years. Interestingly, these kinds of distribution often turn up near major tops, and not bottoms.

IT Tech highlighted that the long-term holders’ supply is currently rolling over from a record high. At the same time, spot trades are well above the realized price of long-term holders while old coins are locking in big profits, not capitulating.

A key takeaway outlined by the expert regarding the action is that it looks similar to late-cycle distribution and de-risking, instead of fresh accumulation. Due to the state of the market, IT Tech urges investors to adjust their risks, not their hopes.

BTC Whales Resume Buying Activity

Even with ongoing waning price action, major Bitcoin holders seem to be making a decisive move once again. After a period of strategic caution, these investors have resumed accumulation, indicating renewed interest and conviction in the flagship asset’s long-term prospects.

As reported by Marty Party, a macro analyst and the host of The Office Space, whales or large investors have scooped up over 54,000 BTC valued at $4.66 billion over the past week. This massive accumulation from deep-pocket investors raises the possibility that they are preparing for a more significant change in the market.

According to the analyst, this purchase in a weekly time frame marks the fastest accumulation pace ever recorded since 2012. Historically, heavy whale movement has influenced BTC’s next price direction, which means that the ongoing accumulation could pave the way for a short-term bounce if it extends.

At the time of writing, BTC’s price was hovering around $86,800, demonstrating a 0.27% increase in the past day. Its trading volume has turned bearish, falling by more than 12% within the same time frame.

Республика Маршалловы Острова стала первой страной, которая провела безналичную выплату универсального базового дохода через токенизированный бонд USDM1 на блокчейне Stellar. Цифровое решение помогает заменить отправку фиатных денег жителей удаленных атоллов, заявили в правительстве.

The Shiba Inu ecosystem recently experienced a major leadership change after one of its key engineers left the project, surprising many in the SHIB community. Previously playing a major role in the network’s development, the Shiba Inu Engineer’s abrupt resignation sparked widespread discussion among community members, prompting questions about his next moves and the possible reasons behind his departure. 

Shiba Inu Engineer Announces Resignation 

The Shiba Inu community was stunned on Friday, December 12, after Johndoeshib, the Managing Engineer for the blockchain, announced his abrupt departure from the project. In his statement on X, he described his time at Shib.io as reaching a natural conclusion, expressing pride in the blockchain’s utility and the resilience of its supporters. 

During his tenure, Johndoeshib played a key role in developing the SHIB network’s infrastructure and supporting the growth of its community. He was known for providing key updates and relevant information about the blockchain on his official X account. Following the announcement of his resignation, he updated his X profile to reflect his new status as an “ex-Engineering Manager at Shiba Inu.” 

Johndoeshib also highlighted that although he is shifting his focus to new endeavors, he remains a long-term observer of SHIB and maintains confidence in the team’s decentralized vision. His quick exit from the crypto project sparked immediate reactions from community members. 

Shiba Inu developer Kaal Dhairya extended his best wishes and noted that Johndoeshib’s presence would be missed. The team behind OSCAR, a CTO token guided by Shiba Inu, publicly thanked the former SHIB engineer for his past contributions, calling him one of the most talented developers in the space and expressing excitement for his next ventures. 

Other community members questioned his departure, asking why he was leaving and what he meant by “a natural conclusion.” Many SHIB supporters took the time to acknowledge Johndoeshib’s impact on the blockchain network, wishing him success and highlighting his integrity. Some shared personal reflections on their interactions with him, describing the former Shiba Inu Engineer as a positive and reliable presence within the ecosystem. 

Ex SHIB Engineer Unveils New Venture After Departure

Two days after revealing that he was exiting Shiba Inu, Johndoeshib disclosed more details about the new venture he is pursuing. He has shifted his focus to HypeIt, a platform that provides software development, web design, and programming services. The former SHIB engineer stated that he is now working on building the new platform to support long-term growth and maximize benefits for the community. 

Johndoeshib encourages collaboration and feedback from the crypto community, inviting suggestions and interaction of ideas as the project moves forward. He emphasized creating an engaged, genuine audience through HypeIt, highlighting the potential for users to transform their content and online presence on the platform positively.

Russia’s crypto payment rumor mill just got another hard “no.” Anatoly Aksakov, the chairman of the State Duma Committee on Financial Markets, said cryptocurrencies “will never” function as money inside Russia — and that if you’re paying for something domestically, it’s rubles or nothing.

“It must be understood that cryptocurrencies will never become money within our country. They can only be used as an investment tool. If you want to pay for something, you can only do so with rubles,” Aksakov said at a press conference hosted by TASS.

Russia Rejects Crypto Payments

That line lands because, for years, there’s been a steady drip of “maybe Russia will allow” crypto payments chatter — and it’s not always completely baseless. The country has been trying to route around sanctions pressure, and crypto keeps popping up in the conversation. When officials talk up “settlements” and “trade,” plenty of people hear “payments” and assume that means everyday retail use is next.

It isn’t. At least not in the way crypto Twitter likes to imagine. Aksakov’s comments track with the central bank’s position. Bank of Russia governor Elvira Nabiullina told lawmakers earlier this year that crypto can’t be used for domestic settlements, while also pointing to a separate experimental legal regime (ELR) that allows crypto to be used in foreign trade under controlled conditions.

That split — “no” at home, “maybe” abroad — is the whole story. Russia has been building carve-outs for cross-border use, including frameworks that allow exporters and importers to use crypto in international settlements under foreign trade contracts.

And officials have been unusually blunt about the motivation. In late 2024, Finance Minister Anton Siluanov said Russia had begun using bitcoin and other cryptocurrencies for international trade under a special legal regime. So yes, crypto gets used. Just not the “pay your landlord in ETH” version.

The other source of confusion is that policy tone has softened around investing — even while payment bans stay in place. In March that the central bank proposed an experimental program that would let “specially qualified” wealthy investors buy crypto, explicitly keeping the domestic payment ban intact.

And regulators have still shown they’re willing to swing a hammer at the retail plumbing when they want to, like the reported blocking of crypto-related services.

In other words: Russia’s message is basically “speculate if you must, trade if you’re authorized, settle cross-border if you’re inside the sandbox — but inside the country, the ruble stays the only checkout option.” And for anyone still clinging to the payment narrative: this was the door closing sound.

At press time, the total crypto market cap stood at $2.92 trillion.

Курс биткоина и других криптовалют в будущем 2026 году будет зависеть от того, насколько оправдает ожидания трейдеров и инвесторов изменение процентной ставки по кредитам в США, заявили эксперты платформы CryptoQuant.