Сборщик RSS-лент

On Thursday, JPMorgan, one of the largest banking institutions globally, marked a pivotal moment in the intersection of traditional finance and cryptocurrency by successfully arranging a US Commercial Paper (USCP) issuance for Galaxy Digital. 

This significant transaction, valued at $50 million, was executed on the Solana (SOL) blockchain and was purchased by Coinbase Global and crypto exchange-traded fund (ETF) issuer Franklin Templeton.

JPMorgan’s Future Plans For Blockchain Structures

This issuance stands out as one of the first instances leveraging blockchain technology for the issuance and servicing of securities, signaling a growing trend of traditional financial firms embracing new technologies. Scott Lucas, the head of Markets Digital Assets at JPMorgan, shared insights on future developments, stating: 

In the first half of next year, we intend to build on this momentum by exploring how this structure and JPMorgan’s role in it can be expanded, not just in terms of the investor and issuer base but also security type.

Acting as the arranger for the deal, JPMorgan also created the on-chain USCP token. The process for both issuance and redemption will be conducted in Circle’s USDC stablecoin. 

This issuance marks Galaxy’s inaugural foray into commercial paper, enhancing the firm’s short-term funding capabilities and facilitating access to a growing array of institutional investors who are increasingly incorporating blockchain-money market instruments into their portfolios. 

Solana Foundation’s Role 

Jason Urban, Global Head of Trading at Galaxy, highlighted the potential of public blockchains in enhancing capital markets’ operational efficiency. 

Urban noted that by actualizing the first on-chain commercial paper offering and aiding in structuring one of the earliest US transactions of its kind, Galaxy is actively promoting an open, programmable infrastructure that supports “high-caliber financial products.”

Sandy Kaul, Head of Innovation at Franklin Templeton, remarked on the industry’s shift towards practical blockchain usage, emphasizing the pivotal role of the investment in backing Galaxy’s initiatives and accelerating progress towards a more open, efficient, and resilient financial ecosystem.

Nick Ducoff, Head of Institutional Growth at the Solana Foundation, highlighted the critical advancement achieved by bringing the security and efficiency of public blockchains to institutional finance. 

He further disclosed that Solana’s architecture facilitates secure and trustworthy financial transactions, providing a robust foundation for institutions like JP Morgan to arrange transactions with enhanced trust and performance standards.

Brett Tejpaul, Co-CEO of Coinbase Institutional, emphasized the transformative impact JPMorgan’s initiative and the milestone transaction in institutional finance’s adoption of public blockchain technology. 

At the time of writing, Solana’s native token, SOL, was trading at $136, having recorded a significant 12% decline over the past 30 days. This price action also positions SOL’s valuation down by over 53% from the all-time high of $293 reached earlier in the year. 

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

С начала этого года 117 новых компаний инвестировали в первую криптовалюту. Большинство из них вложили капитал во втором и третьем кварталах, сообщили аналитики платформы CryptoQuant.

Cardano is finally doing the unsexy but absolutely necessary plumbing work: getting serious, external oracle infrastructure wired in, with a governance wrapper that looks a lot more like “adult supervision” than the old ad-hoc ecosystem scramble.

On a Dec. 11 livestream, Charles Hoskinson said the ecosystem’s new “Pentad” structure — the coordination bloc spanning Input Output, the Cardano Foundation, EMURGO, the Midnight Foundation, and Intersect — has approved its first major integration under the “critical integrations” framework: bringing Pyth’s Lazer oracle to Cardano, with deployment targeted for early 2026.

Pyth Deal Kicks Off Cardano’s Critical Integrations Push

“This is the appetizer announcement,” Hoskinson said, framing Pyth as the first of what he expects to be a broader menu: bridges, stablecoins, analytics, custodians — the stuff that turns a chain into a DeFi venue people actually build on, not just a community that argues about roadmaps.

Hoskinson didn’t really sugarcoat why this matters. “Oracles are really the first part of major integrations,” he said, because you need reliable data coming in and you need credible pathways to the rest of the industry. He also admitted the in-house approach hasn’t landed the way it should’ve: Cardano “tried to build an indigenous oracle solution and it hasn’t worked out as well as it should.” So […] Pyth. That’s the pivot.

Pyth, in its own marketing, has been pushing Lazer as an ultra-low latency product designed for speed-sensitive trading use cases — basically, price updates fast enough that perps and other twitchy DeFi apps don’t feel like they’re operating on last cycle’s data. Hoskinson called Pyth “one of the most advanced Oracle solutions on market,” and emphasized the practical angle: lots of feeds, lots of publishers, and broad distribution across chains.

Intersect’s announcement (the one Hoskinson pulled up mid-stream) from X states: “One of the first concrete outcomes of the Critical Cardano Integrations workstream is now in place! The Steering Committee […] has approved the first major integration under this framework: bringing Pyth Lazer oracle to Cardano. Pyth provides low-latency, institutional-grade market data across thousands of price feeds spanning crypto, equities, FX, commodities and ETFs, already used by hundreds of DeFi applications across 100+ blockchains to power trading, lending and risk management.”

Hoskinson argued, “[Pyth] effectively attaches Cardano now to the information networks of the entire cryptocurrency space.” He said the team is already exploring whether it can switch parts of the ecosystem — including Djed — over to Pyth, and he wants Cardano dapp teams to seriously evaluate the integration once it’s available.

“Pyth is just the appetizer in the Cardano critical integrations,” he said. “There are many more things to come.”

The broader context is that Cardano’s new “Pentad” has been positioning “critical integrations” as a coordinated, treasury-backed effort to “prime Cardano for 2026,” including a budget proposal tied to ecosystem-wide enablers. If Pyth is the first concrete output, it’s also a signal the Pentad model is going to be judged on execution, not vibes.

Hoskinson, closing out, put it in his usual rally language: “Cardano is not an island anymore […] the cavalry has come.” The market can do what it wants in the short term. But getting credible oracle rails in place is the kind of boring upgrade that tends to matter later — when teams are deciding where to deploy, and where liquidity is willing to live.

At press time, ADA traded at $0.4253.

Участники рынков предсказаний Polymarket и Kalshi предположили, что шансы первой криптовалюты до 31 декабря преодолеть отметку $100 000 в среднем составляют всего 30%.

Председатель правления BitMine и сооснователь компании Fundstrat Том Ли (Tom Lee) предположил, что эфир, вторая по рыночной капитализации криптовалюта, достиг своего дна. Поэтому BitMine поспешила приобрести больше монет на спаде.

Дагестан продолжает лидировать среди регионов Северо-Кавказского федерального округа по количеству незаконных ферм для майнинга, сообщили энергетики «Россети Северный Кавказ».

Vladimir Chistyukhin, First Deputy Chairman of the Central Bank of Russia (CBR), has shared crucial details of Russia’s upcoming crypto regulations. The framework is expected to amend key laws related to digital financial assets and the securities market, while potentially prohibiting new digital asset purchases for most investors.

New Crypto Framework Could Ban New Purchases

On Thursday, Vladimir Chistyukhin told Russian news media outlet RIA Novosti that the Central Bank of Russia, the Ministry of Finance, Rosfinmonitoring, and other federal agencies have been discussing proposals to regulate the crypto market.

The executive affirmed that the new framework will provide rules on how and through whom crypto transactions will be carried out. He detailed that these will likely be executed only by existing market participants under existing licenses.

As reported by Bitcoinist, CBR’s First Deputy Chairman previously announced that local banks would be allowed to engage in limited crypto operations under strict regulatory conditions.

Nonetheless, the executive has noted that they will need to consider whether exchanges should be included in a separate category that enables them to be eligible for a new license.

In the case of investors, he informed that they are stepping away from their initial Experimental Legal Regime (EPR), introduced at the start of the year. The EPR proposed allowing only “highly qualified investors” to transact directly with digital assets.

Currently, cryptocurrencies are used not only as an investment but also as a means of cross-border payments. This is a very important point that cannot be ignored. Of course, we want to protect Russian retail investors as much as possible from transactions with such a risky asset. On the other hand, we understand that in the current circumstances, in some cases, international payments can only be made using cryptocurrencies. Therefore, the discussion continues.

Now, they are looking to allow qualified investors into the market after passing certain tests, although discussions are not final. There are only about one million qualified investors in Russia, Chistyukhin added, which could place millions of retail investors in the country in a “gray” zone.

Unqualified investors who already acquired cryptocurrencies “will be able to either keep them, sell them, or exchange them for some fiat currency or other assets. There are no restrictions on exiting crypto assets – neither in terms of time nor volume. Only new purchase transactions will be restricted,” he stated.

Russia To Adopt Regulations ‘As Quickly As Possible’

Chistyukhin affirmed that the Russian financial market has “all the necessary infrastructure to work with cryptocurrencies.” Although it will be “essential to amend the laws on digital financial assets, the securities market, and banking legislation.”

Chistyukhin explained that the authorities believe it is “fundamentally important” to legitimize the crypto sector and ensure that it is compliant with the law. To achieve this, regulators are considering establishing strict restrictions and prohibitions. “Anything that falls outside this framework will be considered illegal activity.”

Discussing why the financial authorities decided not to experiment with and test crypto rules, he noted that the country needs to adopt regulations quickly due to “international attention” and “scrutiny.”

The issue of cryptocurrency regulation is attracting serious international attention, primarily from the FATF. (…) We need to adopt regulations as quickly as possible. (…) We simply do not have the time to experiment first and then spend several years analyzing it and launching something permanent.

Therefore, the executive revealed that the legislation could be passed during the spring of 2026 and be enacted before the end of next year. However, Russian watchdogs are preparing transitional periods to give market participants time to move out of the regulatory “gray” zone and into the new legal framework. Liability for illegal operations is expected to come into effect in mid-2027.

Суд Южного округа Нью-Йорка приговорил основателя Terraform Labs До Квона (Do Kwon) к 15 годам тюремного заключения за мошенничество, вызвавшее крах токена LUNA и алгоритмического стейблкоина TerraUSD,  в результате чего инвесторы потеряли около $40 млрд.

6 из 10 состоятельных азиатских инвесторов готовы увеличить долю первой криптовалюты в своих портфелях из-за оптимистичных прогнозов курса актива на ближайшие несколько лет, сообщили аналитики банка Sygnum.

Data shows the XRP transfer fee has witnessed a significant decrease over the last several months, a sign network activity has been declining.

XRP Transaction Fee Has Dropped To 650 Tokens Per Day

In a new post on X, on-chain analytics firm Glassnode has discussed the latest trend in the Total Transaction Fees indicator for XRP. This metric measures, as its name suggests, the amount of fees that senders on the XRP network attach to their transactions every day.

On blockchains like Bitcoin and Ethereum, the transaction fee goes to the network validator who added the associated move to the next block. In the case of BTC, the network runs on a consensus mechanism called the proof-of-work (PoW), with validators called miners competing against each other using computational resources to get the chance to add the next block to the chain.

While for ETH, validators known as stakers handle consensus by locking in an ETH amount known as the “stake.” This mechanism is known as the proof-of-stake (PoS).

XRP takes an approach that differs from both digital asset giants. In the XRP Ledger Consensus Protocol, network validators maintain a list of other validators that they trust. Validators propose and vote on transactions, with consensus being reached when more than 80% of trusted nodes agree on the validity of the transactions.

The key difference is that in this system, there are no block/staking rewards, and validators aren’t compensated with transaction fees, either. Instead, the fee that users pay is destroyed. This means that every time a transaction occurs, a tiny part of the asset’s supply exits from circulation.

While the destination of the transaction fees is different for XRP when compared to Bitcoin and Ethereum, the network dynamics can still be similar. In other words, high traffic can push the Total Transaction Fees metric up, while low activity periods can lead to a drop in it.

Now, here is the chart shared by Glassnode that shows the trend in the 90-day simple moving average (SMA) of the XRP Total Transaction Fees over the last few years:

As displayed in the above graph, the XRP Total Transaction Fees witnessed a surge to an extreme level in early 2025. Users were paying 5,900 tokens per day as transfer fees at the peak of this explosion in February.

Since then, however, the blockchain has witnessed a rapid decline in the indicator. Today, the network is witnessing just 650 tokens per day in fees, reflecting a decrease of about 89% from the February high. The 90-day SMA Total Transaction Fees haven’t been this low for the asset since December 2020.

XRP Price

XRP has gone downhill during the last couple of days as its price has returned to the $2.00 level.

Центральный банк Мексики (Banxico) опасается, что стейблкоины могут нарушить мировую экономическую стабильность из-за быстрого роста популярности и объединения с традиционным финансовым сектором.

Ethereum has retraced below the $3,200 level following the Federal Reserve’s decision to cut interest rates by 25 basis points, a move that initially boosted risk assets but quickly shifted market sentiment into uncertainty. While the broader macro backdrop now leans toward looser monetary conditions, Ethereum’s reaction suggests that traders remain cautious, especially after the sharp rally from the $2,800 region earlier this month.

According to fresh data from CryptoQuant, Binance’s Ethereum Estimated Leverage Ratio has climbed to an all-time high of nearly 0.579. This signals that the ETH market has entered a highly sensitive and potentially unstable phase, as open leveraged positions have grown faster than the underlying spot holdings on the exchange. Such extreme leverage typically reflects heightened risk appetite—and often precedes periods of sharp volatility.

This dynamic implies that a large portion of Ethereum’s recent price action has been driven not by organic demand, but by leveraged speculation. With funding structures stretched and traders aggressively positioning for upside, even a modest price swing could trigger a cascade of liquidations, amplifying market movements in either direction. As Ethereum hovers near key support, the combination of elevated leverage and post-FED uncertainty sets the stage for a volatile and decisive period ahead.

Ethereum’s Leverage Structure Signals Growing Fragility

Arab Chain explains that Ethereum’s historically high leverage ratio indicates a structural imbalance in the market. When the volume of open contracts funded by leverage grows faster than the actual spot ETH held on the platform, the entire ecosystem becomes more sensitive to abrupt volatility.

In such conditions, traders face a heightened risk of liquidation from even moderate price swings—whether the move is upward or downward. Historically, peaks in this indicator have aligned with periods of intense price pressure, as excessive leverage magnifies the market’s reaction to relatively small shifts in demand or sentiment.

At the same time, Ethereum is currently trading near $3,300, creating a concerning confluence: rising prices supported not by strong inflows or genuine spot demand, but by leverage-driven speculation. This type of rally is inherently unstable. If leverage continues climbing at these extreme levels, the market becomes increasingly vulnerable to a sharp liquidation-driven sell-off should prices pull back.

However, there is an alternative path. If ETH’s price continues to build momentum while the leverage ratio cools slightly, the market could regain a healthier structure—providing a more durable foundation for a sustained upward trend. For now, the estimated leverage ratio remains one of the most critical indicators for evaluating Ethereum’s short-term direction.

ETH Price Action Details

Ethereum’s latest rejection near the $3,350–$3,400 zone highlights the challenges bulls face as the broader trend remains pressured. The chart shows ETH pulling back toward the $3,200 area after a sharp attempt to break above the 100-day moving average (red line). This level continues to act as a major dynamic resistance, repeatedly capping upside momentum throughout November and December.

Despite the recent recovery from sub-$2,900 lows, ETH has not yet reclaimed the 50-day moving average (blue line) with conviction. The inability to close decisively above it reinforces the idea that this bounce remains corrective rather than impulsive. Meanwhile, volume on the latest push upward has been modest, suggesting that buyers are not entering aggressively at these levels.

On the downside, the $3,050–$3,100 region is emerging as short-term support. A daily close below this zone could open a path back toward $2,900, especially if risk sentiment deteriorates post-FOMC. Conversely, reclaiming and holding above $3,350 would be the first sign of renewed bullish strength, potentially targeting $3,550 next.

Featured image from ChatGPT, chart from TradingView.com

e& UAE, United Arab Emirates’ telecom giant, has signed a memorandum of understanding with Al Maryah Community Bank to trial AE Coin, a Central Bank-licensed stablecoin, as a payment option across the telco’s services.

According to company statements, the plan would let customers use an AED-backed token to pay for mobile and home-service bills, prepaid and postpaid recharges, and purchases on e& digital platforms.

Integration Across Consumer Touchpoints

Reports have disclosed that e& Group aims to plug AE Coin into its existing payment systems. The move would add the stablecoin as an alternative to cards and bank transfers on e&’s mobile apps and at smart self-service kiosks.

e& UAE’s CEO, Hatem Dowidar, said the partnership with Al Maryah Community Bank will allow “instant settlement, complete transparency, and frictionless access” — language that signals the operator expects quicker finality and clearer audit trails for transactions.

For many users, that could mean fewer delays and simpler proof of payment when calling or browsing for services.

What The Partners Say

Based on reports, Al Maryah Community Bank’s chief executive, Mohammed Wassim Khayata, said the collaboration widens real-world uses for licensed virtual assets and opens the door to faster, more secure options for everyday payments.

Ramez Rafeek, General Manager of AED Stablecoin LLC, described AE Coin as created to support regulated and transparent digital payments.

Those comments frame the trial as an attempt to move a regulated token from niche experiments into mass consumer use. The pilot will start within selected e& channels; no national rollout timetable has been disclosed.

Potential Impact On Users And The Market

Analysts and payments experts say a telecom of e&’s size could quickly expose millions of customers to stablecoin payments if the test succeeds.

According to the companies involved, integrating AE Coin would cover prepaid top-ups and postpaid billing, which are high-frequency transactions that could provide an immediate test bed for volume and reliability.

Observers note that real adoption will hinge on how easy customers find the process, how wallets are managed, and whether merchants accept the token beyond e&’s own services.

Alignment With National Goals

Reports indicate the trial fits into the UAE’s push for regulated blockchain payments and a less cash-dependent economy.

Regulators have been encouraging licensed solutions, and using a Central Bank-approved stablecoin inside a major consumer network sends a clear signal that authorities are open to controlled innovation.

If adopted more widely, the token could serve as another regulated payment choice alongside existing systems.

Featured image from Unsplash, chart from TradingView

Ethereum has retraced below the $3,200 level following the Federal Reserve’s decision to cut interest rates by 25 basis points, a move that initially sparked volatility across the crypto market. While many expected a stronger reaction from Ethereum, the asset instead slipped lower as traders reassessed the macro environment and the implications of a potential shift toward stagflation. Despite this pullback, on-chain data suggests that the underlying market structure may be quietly improving.

According to new insights from CryptoQuant, Ethereum’s Net Taker Volume (30-day moving average) is showing a clear upward trend in its lows. This metric tracks the balance between aggressive buyers and sellers in the derivatives market. Although ETH remains under selling pressure, the data reveals that the intensity of aggressive selling has been weakening steadily over the past several weeks. Each subsequent negative low is forming higher than the previous one, signaling that sellers are losing dominance.

While the broader sentiment remains cautious, subtle improvements in Net Taker Volume suggest that ETH’s current weakness may be masking the early stage of a larger structural shift.

Net Taker Volume Signals a Potential Structural Shift

According to CryptoQuant’s CoinCare, Ethereum may once again be approaching a pivotal turning point. The report highlights that a similar Net Taker Volume structure appeared earlier this year. After forming a clear bottom in January 2025, the metric began to trend upward—even while remaining in the negative zone—indicating that aggressive sellers were gradually losing strength.

By April, Net Taker Volume flipped decisively into positive territory. From that exact moment, Ethereum entered one of its strongest rallies of the cycle, surging more than 3x and printing a new all-time high.

Current conditions echo that same pattern. Since the peak of selling pressure in September, the market has continuously absorbed sell flows for nearly three months. Each negative low in Net Taker Volume has formed higher than the previous one, revealing improving market resilience despite the broader downtrend. If this trajectory holds, CoinCare estimates that a positive flip in Net Taker Volume may be only about a month away.

Historically, this transition from negative to positive has marked the beginning of Ethereum’s most explosive breakout phases. A confirmed move into positive territory would represent a high-probability trigger for the next expansion toward new all-time highs, signaling that momentum is quietly rebuilding beneath the surface.

ETH Weekly Structure Attempts a Recovery

Ethereum’s weekly chart shows the market attempting to stabilize after several weeks of volatility, with price currently trading near $3,195 following a strong rebound from the $2,800 zone. This area acted as a key demand region in mid-2024 and has once again provided support, preventing a deeper breakdown. The recent weekly candle reflects renewed buying interest, closing firmly above the 50-week moving average, a level that often defines medium-term trend direction.

Despite this rebound, ETH still faces structural challenges. The 100-week moving average — now overhead — has acted as resistance throughout the current downtrend, and the price rejected it again on the latest push toward $3,447. Until Ethereum can reclaim this dynamic resistance with conviction, the broader trend remains neutral to slightly bearish.

Volume also shows a notable shift: sell-side activity has been declining over the past month, while buyers are beginning to step in more aggressively at key support levels. This aligns with the improvement in on-chain metrics, suggesting weakening selling pressure.

For bulls, the next major objective is a weekly close above $3,400, which would signal a potential trend reversal. A failure to break this level, however, risks another retest of $2,900–$2,800, where market sentiment would again be tested.

Featured image from ChatGPT, chart from TradingView.com

SpaceX moved 1,021 Bitcoin worth about $94.48 million on December 10, according to on-chain alerts from blockchain trackers. The transfer was sent to wallets tied to Coinbase Prime, raising questions about whether the company is reshaping part of its treasury while attention grows around its potential public listing.

Ledger Shuffle Raises Questions

Reports have disclosed that this move is only the latest in a series of large bitcoin transfers involving wallets believed to be linked to SpaceX.

Analysts tracking the transactions say the pattern looks more like a shift into institutional custody rather than an immediate market sale, since Coinbase Prime is commonly used for storage and structured trades by large companies.

SpaceX is estimated to hold around 8,285 BTC, a stash worth roughly $770 million based on recent market prices. That amount places the company among the biggest private holders of bitcoin.

Records show the balance was once higher during 2022, though part of it has been reduced over time as transfers continued.

SpaceX(@SpaceX) just transferred out another 1,021 $BTC($94.48M), to possibly Coinbase Prime for custody.https://t.co/zW62EKM2RD pic.twitter.com/PwBIvD5RaR

— Lookonchain (@lookonchain) December 10, 2025

SpaceX: IPO Talk Adds Pressure

At the same time, reports from major outlets say SpaceX is preparing for an initial public offering that could take place in 2026.

Coverage has suggested the fundraising round may target tens of billions of dollars, and estimates of the company’s possible valuation range from $800 billion to more than $1.5 trillion.

Elon Musk reacted on social media to one of the reports, saying the information was accurate, which added more weight to expectations that a listing is being planned.

Because companies often adjust their balance sheets ahead of a public offering, analysts say moving crypto into institutional platforms would not be unusual. It can be done for audits, custody needs, or overall treasury preparation before large financial transactions.

What The Move Might Signal

A transfer into Coinbase Prime does not automatically mean a bitcoin sale is underway. Institutional accounts can hold assets for long periods without sending them directly to the open market.

Traders watching the activity say that only an actual sale — not a custody transfer — would create immediate pressure on Bitcoin prices.

Still, the timing stands out. The latest 1,021 BTC move comes during a period where SpaceX’s on-chain activity has increased. More transfers may follow if the company continues preparing documents and financial disclosures linked to a potential public listing.

The main question now is whether the recent shift was routine treasury work or part of a larger strategy connected to the IPO.

SpaceX has not issued a public statement on the transaction, leaving analysts to rely on blockchain data and regulatory reporting to understand what comes next.

Featured image from Unsplash, chart from TradingView

Elon Musk has confirmed that X’s long-promised payments layer, X Money, is already running inside the company — but Dogecoin, his on-again-off-again favorite meme coin, has barely twitched.

Replying to developer and X feature-watcher Nima Owji on December 10, Musk dropped a characteristically terse update: “It has been launched internally.” Within hours, promoter Mario Nawfal was broadcasting that “X MONEY IS LIVE BEHIND CLOSED DOORS, PUBLIC LAUNCH NEXT,” describing the system as “quietly tested by employees and early users while the rest of the world waits for access.”

It has been launched internally

— Elon Musk (@elonmusk) December 10, 2025

The market, however, did not exactly wait breathlessly. As of press time, Dogecoin traded around $0.137, down less than 0.1% on the day — essentially noise, given an intraday range between roughly $0.137 and $0.150. For a coin that once ripped 20–30% on a single Elon meme, this is… subdued.

Why Is The Dogecoin Price Not Reacting?

The contrast with earlier X Money headlines is stark. When Musk first framed the payments stack as part of a broader relaunch of XChat in mid-November, he boasted that X had “just rolled out an entire new communications stack with encrypted messages, audio/video calls and file transfer,” adding pointedly: “Money comes out soon… X will be the everything app.”

Dogecoin and other high-beta names squeezed higher on that story, if only briefly. Back in May, when Musk confirmed that a beta version of X Money was coming, DOGE jumped from about $0.08 to $0.09 on the announcement — a double-digit percentage move triggered by one more hint that the dog might be wired into X’s rails.

Today’s non-reaction lands against a deeper build-out of X Money in the background. According to a recent job posting, X Money is hiring a technical lead to design a payments platform “from the ground up” for more than 600 million monthly users, with an emphasis on distributed systems and secure transactions.

The description notably does not mention crypto or Dogecoin at all. Notably, X Money already announced a partnership with Visa earlier this year for an “X Money Account” that would fund wallets and peer-to-peer payments, while Solana figures — including ecosystem advisor Nikita Bier, now at X — have publicly signaled they are eager to help.

Crucially, Musk has not exactly gone quiet on Dogecoin in general. On November 3 he posted “It’s time” on X, reviving his old promise to “put a literal Dogecoin on the literal moon” via a SpaceX mission, as reported by Bitcoinist.

In mid-October he waded into the “energy money” debate, backing Bitcoin as impossible to “fake” because it is grounded in energy and then replying with an approving emoji when a Dogecoin community account insisted that “Dogecoin is also based on energy” — his “first explicit nod toward DOGE in a while,” as reported on NewsBTC.

Even more recently, on October 11 and again on November 15, Musk posted Doge-coded content — a Shiba Inu mascot image, then a meme of a Shiba playing a banjo — that historically would have lit up DOGE order books. However, this time, Dogecoin’s response was muted to outright negative.

In other words, the last few times Musk has talked about or referenced Dogecoin on X, the market reaction has been steadily decaying. So when he now says X Money “has been launched internally,” the absence of a pump in DOGE looks less like a mystery and more like a trend.

At press time, DOGE traded at $0.13765.

Bitcoin (BTC) is once again moving within a narrow band, with price swings contained despite shifting macro signals and fresh debate over whether the cryptocurrency’s long-observed four-year cycle still applies.

Related Reading: Upcoming Crypto Market Structure Bill Markup Likely Pushed To Post-Holiday

As traders react to mixed Federal Reserve messaging, institutional flows, and rising caution across risk markets, analysts remain split on whether Bitcoin’s latest consolidation represents stability, or a deeper shift in how the asset behaves.

Analysts Question Whether the Cycle Has Ended

A growing number of major firms now argue that Bitcoin may be moving beyond its historic halving-driven rhythm. Investment firm Bernstein said in a recent note that the asset is in an “elongated bull cycle,” pointing to minimal ETF outflows despite a nearly 30% correction.

The firm has raised its 2026 price target to $150,000, projecting a potential cycle peak of $200,000 in 2027 and maintaining a $1 million long-term estimate for 2033.

ARK Invest CEO Cathie Wood echoed this view, saying that institutional adoption is reducing the likelihood of the steep 75–90% drawdowns seen in previous cycles. Grayscale has also suggested Bitcoin could break the four-year pattern, forecasting renewed strength in 2026.

Bitcoin is currently trading near $90,000–$93,000 depending on the venue, with recent intraday swings highlighting a lack of strong directional conviction.

Fed Signals Keep Markets Cautious

The Federal Reserve’s 25 bps rate cut initially lifted risk sentiment, but a shift toward cautious, data-dependent language quickly reversed momentum.

Bitcoin and Ethereum slipped after the announcement, with BTC falling below $90,000 at one point as traders reassessed the macro backdrop. Liquidity remains thin, contributing to choppy movements across major crypto assets.

Analysts note that Bitcoin’s inability to sustain gains, despite the weaker dollar and softer Fed stance, reflects persistent uncertainty. Several commentators say BTC must hold above $90,000 to avoid strengthening bearish pressure, while a break above $94,500 could reopen a path toward $100,000 if inflows improve.

Derivatives and On-Chain Data Flag Rising Bearish Sentiment

Options and on-chain indicators are also signaling caution. Traders have increased bearish option positions, with the put/call ratio turning positive ahead of a significant expiry window. More than $500 million in crypto liquidations occurred within 24 hours, reflecting heightened volatility.

On-chain data shows declining bullish momentum. The Bitcoin Bull Score Index has fallen back to zero, and realized losses suggest further downside could be possible. Analysts warn that despite past buy-the-dip patterns, current readings do not yet reflect the levels typically associated with market bottoms.

Related Reading: Cardano Founder Reacts As NIGHT Token Crashes From $150 To $0.02

As Bitcoin continues to trade in a tight range, the broader debate remains unresolved. Whether the four-year cycle is fading, or simply paused, may depend on how markets digest macro uncertainty, institutional flows, and the next wave of economic data.

Cover image from ChatGPT, BTUSD chart from Tradingview

The legal saga surrounding Do Kwon, co-founder of Terraform Labs, has culminated in a significant ruling, with the crypto magnate sentenced to 15 years in prison this Thursday. 

This decision follows a tumultuous period marked by the collapse of two digital currencies created by the firm, which collectively erased an estimated $40 billion from the market in 2022, leading to widespread repercussions within the broader cryptocurrency industry.

Do Kwon’s 15-Year Sentence

During the sentencing hearing, US District Judge Paul A. Engelmayer underscored the seriousness of Do Kwon’s actions, stating, “Your fraud was unusually serious. For four years you publicly lied to the market.” 

The judge emphasized that Kwon misrepresented TerraUSD as a stablecoin backed by a system designed to sustain its peg to the dollar, asserting that Kwon’s claims were ultimately fraudulent when the peg faltered.

Judge Engelmayer remarked that Do Kwon’s actions had devastating effects, contributing to the collapse of investments for “hundreds of thousands of investors.” He noted that a lighter sentence would be unacceptable, stating: 

“Five years would be so implausible it would require appellate reversal. Others must be deterred. People are watching this [live]. There will be future entrepreneurs. This case will serve as a reminder of breaking bad and what happens.” 

With that, the US District Judge imposed a 15-year sentence, factoring in time already served—17 months and eight days while in pre-extradition custody.

Judge Hints At Fort Dix Transfer

Interestingly, there were suggestions from both the judge and prosecutors that Kwon could be transferred to Fort Dix, a facility where some high-profile inmates are held. There’s also the possibility that part of his sentence could be served in South Korea, where he is facing additional legal challenges.

In January, Do Kwon was charged with nine criminal counts that included securities fraud, wire fraud, commodities fraud, and conspiracy to commit money laundering. 

Featured image from ABC, chart from TradingView.com 

Vincent Van Code, a well-known commentator on X, has outlined a projection that XRP could undergo a major shift in its pricing structure by March 2026. 

His view is built on three trends developing for the altcoin. These are the steady decline of XRP held on centralized exchanges, rising demand from institutional-grade Spot ETF products that move large volumes of the tokens into regulated custody, and the gradual rollout of more advanced arbitrage systems that link ETF pricing with exchange markets. 

Predicting Major Development For March 2026

Van Code’s prediction of a major XRP development coming up in March 2026 is based on the observable trend of reserves on major centralized exchanges dropping to multi-month lows, a pattern verified by recent on-chain data showing exchange balances contracting significantly as institutional vehicles accumulate tokens. This reduction in liquid supply has coincided with sustained inflows into multiple Spot XRP ETFs launched in 2025, which now hold hundreds of millions of the token under management.

This has led to a highly volatile price action for the token, as we’ve seen in recent days. The interplay of this supply squeeze and growing institutional appetite feeds into Van Code’s prediction about a change in price dynamics ahead of 2026.

According to Van Code, sophisticated arbitrage should come online sometime around March 2026, and this will be the game-changer for price movement. Once that framework is in place, ETF trades and institutional flows could begin anchoring the altcoin’s price across the broader market, leading to steadier movement as more of the circulating supply sits in the hands of large, long-term holders.

This means that by March 2026, institutional ETF pricing could begin to set the benchmark for valuations across order books on crypto exchanges, rather than retail markets. 

Spot XRP ETFs In The US

Since the launch of the first US-listed spot XRP exchange-traded fund by Canary Capital on November 13, these products have attracted substantial institutional demand, feeding a growing accumulation of the altcoin into regulated custody and moving tens of millions of tokens out of the trading pool on crypto exchanges. 

Spot XRP ETFs, those from Canary Capital, Franklin Templeton, Bitwise and Grayscale, are on track to collectively exceed $1 billion in assets under management in just a few weeks, with inflows now on a streak of 18 consecutive trading sessions. According to data from SoSoValue, these ETFs have now received a cumulative inflow of $954.33 million as of December 10. 

Interestingly, a new entrant is also preparing to join this growing lineup. Asset manager 21Shares is on the verge of finalizing its own Spot XRP ETF, which has been approved by the Cboe BZX Exchange and is going to trade under the ticker TOXR.

The Federal Reserve’s latest policy move was expected to calm financial markets. Instead, it set off one of the sharpest intraday reversals the crypto sector has seen this quarter.

After delivering a widely anticipated 25-basis-point rate cut, the Fed signaled a slower path ahead, and that shift in tone was enough to send major digital assets back. What looked like a supportive macro backdrop quickly turned into a trigger for risk-off positioning across Bitcoin, Ethereum, and the broader altcoin market.

Mixed Fed Messaging Fuels Market Confusion

The Federal Open Market Committee lowered the federal funds rate to a 3.5%–3.75% range, marking its third cut of the year. But internal disagreement, including two members opposing any cut and one pushing for a larger one, highlighted uncertainty within the Fed itself.

Chair Jerome Powell supported that ambiguity by saying the central bank remains “well-positioned to wait,” a phrase traders interpreted as a possible pause in January.

Economic projections added more caution. Officials expect only one additional cut in 2026, far fewer than markets had priced in. While the Fed also announced $40 billion in monthly Treasury bill purchases, seen by some as “QE-lite”, investors viewed the move more as an attempt to steady liquidity in a slowing economy.

The dollar weakened sharply after Powell ruled out a 2026 rate hike, but expectations for near-term easing also faded. Futures markets quickly shifted, showing a higher probability of no change in January.

Crypto Markets Reverse as Liquidity Concerns Rise

The crypto market reacted within minutes of the Fed’s press conference. Total market capitalization fell roughly 3% over the next 24 hours, with Bitcoin sliding below $90,000 after briefly testing highs near $94,000 earlier in the week.

Ethereum lost more than 3%, and altcoins posted deeper declines as investors moved toward lower-risk exposure.

Rising liquidations added pressure. More than $1 billion in leveraged positions were wiped out in the broader market over a 24-hour period, while Bitcoin dominance climbed to around 58%, reflecting a shift away from speculative assets.

Technical signals also turned bearish, with total crypto market cap slipping below the 200-day EMA and several major tokens failing to reclaim key resistance levels.

What Comes Next as Traders Await Fresh Data

Attention now turns to the upcoming PCE inflation report, the Fed’s preferred gauge. A stronger-than-expected reading could delay further easing and intensify volatility across risk assets. For crypto traders, key levels include Bitcoin’s support zone near $89,000 and ETF flow trends, which continue to influence market stability.

The latest Fed decision currently has left markets searching for clearer direction. Until that emerges, crypto appears set to navigate a period of tighter liquidity, cautious sentiment, and elevated sensitivity to macroeconomic signals.

Cover image from ChatGPT, BTCUSD chart from Tradingview