Latest Crypto News | Bitcoin, Ethereum and Altcoin Updates

Morgan Stanley strategist Matthew Hornbach warns that USD/JPY, currently trading around 156, is overstretched above its fair value. He forecasts a 10% yen rally to approximately ¥140 by early 2026, driven by expected Federal Reserve rate cuts and a decline in US 10-year Treasury yields. As yields fall, the interest-rate differential supporting the dollar weakens, paving the way for yen strength. This shift marks a turning point for yen carry trade, where investors borrow cheap yen to fund higher-yield assets. A stronger yen raises funding costs, prompting leverage reductions and cooling of risk assets. However, Morgan Stanley expects the dollar to rebound to around ¥147 in the second half of 2026 as US fiscal stimulus and economic recovery restore yield differentials. Risk factors include delayed Fed cuts, persistent high US yields above 4.5%, and Japan’s fiscal health. Traders and corporate treasurers should adjust hedges in two phases: long yen exposure in early 2026 and switch back to the dollar by mid-year to manage a potential 10% swing in USD/JPY.

Grayscale has launched the first Dogecoin ETF (ticker: GDOG) on the NYSE, offering retail and institutional investors a regulated vehicle to gain exposure to DOGE without direct crypto custody. The Dogecoin ETF holds physical DOGE in secure custody, trades like a stock, and leverages market makers to support liquidity and market depth. This milestone marks the first memecoin-focused spot ETF and signals growing institutional acceptance of non-Bitcoin digital assets. In parallel, Grayscale filed for a spot XRP trust and introduced two new XRP-based exchange-traded products in Europe, capitalizing on improving regulatory clarity and rising investor demand for altcoin investment vehicles.

Grayscale and Franklin Templeton have launched new XRP Spot ETF products on the Arca exchange. The XRP Spot ETF offerings, GXRP and XRPZ, bring direct XRP exposure to U.S. markets. Grayscale’s GDOG and Bitwise’s BWOW listings further expand the meme-coin ETF segment. A Bloomberg analyst forecasts a LINK Spot ETF this week, part of over 100 crypto ETFs expected in the next six months. These launches highlight rising institutional demand for physically settled crypto ETFs and improved liquidity in the spot crypto ETF market.

21Shares has expanded its suite of crypto ETPs on Nasdaq Stockholm by launching six new products. The initial wave included ETPs for Aave, Cardano, Chainlink and Polkadot, plus two index-based baskets, following a Solana (SOL) ETF debut. A subsequent launch introduced single-asset ETPs tracking Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Polkadot (DOT), Avalanche (AVAX) and Cardano (ADA). These additions raise 21Shares’ total crypto ETP offerings on the Swedish exchange to 16, complementing listings on SIX Swiss Exchange, Xetra and Amsterdam Euronext. The move meets rising demand from Nordic institutions for regulated, exchange-listed digital assets. With about half of its $8 billion AUM held in US ETFs co-issued with Ark Invest, 21Shares aims to boost liquidity, trading volumes and market access. The launch highlights growing institutional flows and aligns with broader European adoption amid new spot XRP ETFs in the US.

Senator Cynthia Lummis has accused JPMorgan of reviving “Operation Chokepoint 2.0” after the bank closed Strike CEO Jack Mallers’ accounts without a clear explanation. JPMorgan flagged unspecified “concerning activity” but provided no details. Pro-crypto figures including Bo Hines and Adam Livingston criticized the move, with Livingston calling for a JPMorgan boycott. JPMorgan analysts also warn that MicroStrategy (MSTR) could face $2.8–$8.8 billion in passive outflows if MSCI excludes companies holding over 50% in digital assets by January 15. Bitcoin dipped to $80,000 amid the controversy before rebounding to around $87,830. The events highlight growing friction between traditional banks and digital assets and suggest potential short-term selling pressure on Bitcoin. Major banks are nonetheless expanding crypto services, with JPMorgan’s Onyx blockchain and Bank of America’s plans for a USD stablecoin.

Ethereum is testing a critical support zone at $2,750–$2,900. A Bitmine-linked whale added 21,537 ETH (~$59.2 million) around $2,750, boosting its holdings to 3.5 million ETH. At the same time, Ethereum ETFs recorded roughly $500 million in net outflows amid price weakness, highlighting diverging institutional flows. Open interest remains steady at $15.46 billion and funding rates are slightly positive, indicating sustained long positioning. Analysts warn that a break below the $2,750 level could trigger liquidations and push ETH down to $2,400 or even $1,700. Conversely, Tom Lee’s ETH/BTC-based valuation model places fair value between $12,000 and $62,500, underscoring long-term bullish potential. Traders are closely watching this inflection zone to gauge short-term risks and validate upside scenarios.

BitMine Immersion Technologies led a broad rally in Ethereum treasury stocks, with its shares up nearly 20% to $31, far outpacing the 2.1% gain in the overall crypto market. Since launching its ETH accumulation strategy in June, BitMine has climbed 630% despite a 50% drop from October’s peak. The company now holds 3.63 million ETH (3% of total supply), valued at $10.6 billion, after adding 69,822 ETH last week. Institutional ownership jumped from 6% to 31.7% in just 13 days. Other Ethereum treasury stocks—SharpLink Gaming (SBET) and MicroStrategy (MSTR)—rose 6% and 5%, respectively. Ether itself gained about 3% to an intraday high of $2,980. Analysts view these rallies—driven by robust ETH accumulation and growing institutional interest—as a bullish signal for a potential broader recovery in ETH prices.

Alphabet stock surged after reports that Meta Platforms is negotiating to deploy Google’s tensor processing units (TPUs) in its data centers. Alphabet stock’s rise underscores growing investor optimism over Google TPUs’ expansion outside Google Cloud. Google is now offering custom AI chips for direct sale and on-premise deployment, challenging established AI hardware suppliers. Meta seeks to diversify its AI chip supply amid heavy investment in AI-driven content moderation and user experience enhancements across Facebook and Instagram. This potential deal positions Alphabet as a key player in the AI hardware market, increasing prospects for new revenue streams beyond its cloud business. Traders see positive market implications for Alphabet stock as AI hardware efforts gain momentum.

Crypto’s long-awaited application cycle has begun as Ethereum upgrades and Layer 2 solutions make blockspace abundant, driving value capture from base protocols to applications. Application-layer fees now account for about 80% of on-chain revenue, with stablecoins, DeFi, and wallets leading. In 2024, Asian blockchain developers surpassed North America with a 32% share, positioning Chinese teams advantageously for rapid iteration, global operations, and application development. Representative projects include Rabby Wallet, gmgn.ai, and Pendle. Primary market investment should target trading/perpetual, asset issuance, and financialized applications like Hyperliquid and Pump.fun. Strategy favors “track beta” sectors—tool projects in prediction markets—over riskier alt-cycles. User acquisition will hinge on mobile front ends, aggregated trading interfaces, and wallets as traffic gateways. Infrastructure investments must focus on application services—custom multi-chain deployment, onboarding solutions, and secure cross-chain bridges—to support this application cycle era.

Bitwise announced on November 25 via X platform that it will soon launch a DOGE spot ETF under the ticker BWOW. The new DOGE ETF aims to provide investors direct exposure to Dogecoin within a regulated fund structure. Bitwise’s DOGE ETF launch follows the approval of other crypto spot ETFs in the US and is expected to expand market liquidity. Traders should watch for the ETF’s approval status, initial inflows, and its impact on Dogecoin price and trading volumes. The launch represents an important step in broadening crypto ETF offerings.

Onchain Lens data shows whales withdrew a total of 15,000 ETH (about $43 million) from Binance in late November. The first withdrawal of 4,974 ETH occurred on Nov 20, followed by a dormant whale moving 10,026 ETH on Nov 25. These sizable Binance withdrawals cut exchange reserves and may signal staking, long-term holding or OTC sales. Traders should track on-chain whale flows, Binance ETH balances and subsequent on-chain moves such as staking deposits or DeFi transfers. Historically, major ETH outflows from exchanges have preceded both price rallies and corrections. While renewed whale activity points to bullish intent if ETH is staked, selling into the market could be bearish. Continued on-chain monitoring will help anticipate potential price swings.

InsightAce Analytics forecasts that the metaverse wallets market will grow from $7.39 billion today to $42.9 billion by 2031, representing a 24.7% CAGR. Metaverse wallets, designed to store tokens, in-game currencies and NFTs, are driven by the rise of virtual worlds, seamless user interaction and the need for verifiable asset ownership. Key players include Enjin, Coinbase (COIN), Decentraland (MANA), The Sandbox (SAND), Somnium Space (CUBE) and Alpha Wallet. North America is expected to dominate, while Southeast Asia narrows the gap. Challenges include platform interoperability and regulatory uncertainty. A separate World Wide Market Reports study predicts the industrial metaverse solutions sector will achieve double-digit CAGR, with valuation scenarios ranging from $124 billion to $315 billion by 2031. Growth drivers include digital twin adoption, IoT sensor data, AI-driven predictive maintenance and virtual workforce training. Major firms such as Microsoft, Siemens and Unity Technologies are already positioning for this expansion.

Perp DEX Lighter has launched its spot trading testnet ahead of the PERP mainnet launch. This testnet phase offers traders simulated liquidity, enhanced order routing and risk controls. Participants can assess liquidity depth, slippage and execution speed, providing feedback to refine the mainnet launch. The decentralized exchange is conducting rigorous testing and performance benchmarking to ensure robust risk management and seamless user experience. Industry observers will monitor metrics such as liquidity, slippage and order routing efficiency. The spot trading testnet marks a key milestone in Perp DEX Lighter’s path toward a fully operational PERP mainnet, setting expectations for a more reliable crypto spot trading environment.

Plume Network has been selected as the primary launch platform for Paxos’s new USDG0 stablecoin, marking a key step in integrating regulated real-world assets into DeFi. USDG0, a fully reserve-backed, cross-chain extension of Paxos’s USDG stablecoin (nearly $1 billion market cap), uses LayerZero’s OFT standard to facilitate seamless transfers and offers direct exposure to U.S. Treasury yields. Hyperliquid and Aptos will also serve as secondary launch networks. By integrating USDG0, Plume Network delivers native liquidity and regulatory compliance, granting DeFi developers access to secure, compliant yield structures and cross-chain interoperability. This partnership underscores a broader trend of regulated asset tokenization on blockchain, potentially driving institutional and retail adoption of decentralized finance.

U.S. regulators have greenlit the first spot Dogecoin ETF, launched by Grayscale, marking a milestone in crypto history. Unlike futures-based or synthetic vehicles, the spot Dogecoin ETF holds actual DOGE tokens, offering cleaner pricing and closer tracking of market value. With Dogecoin’s market cap around $22 billion despite a weak quarter, the approval signals serious institutional recognition of memecoins. Other major tokens—BTC, ETH, SOL and XRP—already have U.S. spot ETFs, and memecoins like SHIB, M and PEPE now command significant market share. While volatility and evolving regulations pose risks, this move opens a regulated pathway for new liquidity and products built around internet-driven assets. The Dogecoin ETF launch underscores how culture-driven coins are reshaping mainstream finance.

US spot Bitcoin ETFs recorded a record $3.5 billion in net outflows for November, driven by $2.2 billion in redemptions from BlackRock’s IBIT. Despite cumulative inflows of $57.6 billion since January—led by IBIT ($62.7B) and Fidelity’s FBTC ($11.8B)—Grayscale’s GBTC continues to shed $25B, weighing on group totals. Daily flows swung sharply, culminating in a $145.4M net outflow on November 25 as IBIT saw $143.48M redeemed, while Ark Invest’s ARKB and Bitwise’s BITB lost $11.65M and $5.79M respectively; FBTC bucked the trend with a $15.49M inflow. Record trading volumes—peaking at $11.5B on November 21—underscore rapid capital rotation amid volatile sentiment. Analysts estimate each $1B in ETF outflows can cut Bitcoin’s price by roughly 3.4%, highlighting the market impact of these fund flows. Traders should monitor Bitcoin ETF fund flows, diversify positions, and consider regulatory developments and market sentiment when managing ETF exposures.

On November 24, on-chain monitoring platform Whale Alert recorded Ripple moving 150 million XRP (≈$317 million) from its institutional wallet to an unidentified address, paying a nominal fee of 0.0004 XRP. Such large-scale on-chain transfers often reflect treasury management actions—internal custody shifts, institutional partnerships or over-the-counter settlements—rather than market sell-offs. The transfer did not trigger immediate price changes or significant liquidity shifts on major exchanges. With no clear label on the destination wallet, the underlying purpose remains unclear. Traders should monitor subsequent on-chain activity for potential redistributions. Although sizable, this XRP shift appears routine and unlikely to disrupt trading conditions.

ETH ETF flows reversed in August and November, reflecting renewed institutional interest in Ethereum. On August 6, net inflows reached $9.09 million, led by BlackRock’s ETHA ($4.59m), Fidelity’s FETH ($4.95m), and Bitwise’s ETHW ($3.08m), while Grayscale’s ETHE saw a $3.53m outflow. Rising regulatory clarity, active network development, and post-dip entry points drove this shift. On November 24, net inflows surged to $92.28 million, with ETHA accounting for $88.22m, alongside gains in Grayscale’s Mini ETH ETF and 21Shares’ CETH, offsetting outflows from FETH and ETHW. This momentum underscores growing demand for regulated, liquid Ethereum exposure through ETH ETF products. Traders should monitor these flows as a key sentiment indicator, as increased institutional inflows may exert upward pressure on ETH prices.

The 2025 Bitcoin bull run faces growing uncertainty as traders debate whether the rally has peaked or merely paused. A 50–50 split in an EveryX prediction market reflects mixed sentiment on whether Bitcoin will eclipse its $126,080 all-time high by year-end. Bitcoin has slid over 26% from its October record, dipping below $92,000 amid heavy ETF outflows and profit-taking. Crypto investment products saw nearly $3.2 billion in redemptions over three weeks, erasing mid-year gains and dropping assets under management by 27%. Analysts are divided: some view the dip as a normal correction in the halving cycle, while others warn it could signal the start of a deeper downturn. Key catalysts to watch include Federal Reserve rate cuts, renewed institutional inflows, and year-end investor confidence. For traders, monitoring ETF flows, funding rates, and macro indicators will be critical to navigating the evolving market sentiment in this Bitcoin bull run.

The U.S. SEC has issued a no-action letter for the FUSE token, the native token of Fuse, a Solana-based DePIN project. Fuse applied on November 19, arguing the FUSE token serves network utility, rewards operators, is not publicly sold, and only redeemable via third parties. SEC’s Division of Corporation Finance, led by Deputy Chief Counsel Jonathan Ingram, confirmed it will not recommend enforcement if FUSE token distribution follows these conditions. This is the second no-action letter for a DePIN project after Double Zero and reflects a more balanced SEC stance under Chair Paul Atkins and Commissioner Hester Peirce. Legal experts say the letter offers critical regulatory clarity and could accelerate DePIN adoption and boost market confidence.

AVAX One (Nasdaq: AVX) spent $110 million between Nov. 5–23 to acquire 9.38 million AVAX tokens at an average price of $11.73, boosting its holdings to 13.8 million AVAX (≈$193 million). The firm retains $35 million in cash for further AVAX purchases or a planned $40 million share buyback and aims to raise up to $550 million for additional accumulation and buybacks. Supported by advisers including Anthony Scaramucci, CEO Jolie Kahn and Chairman Matt Zhang cite current market volatility as an optimal entry point. This strategy parallels institutional moves like MicroStrategy’s Bitcoin buys and reflects growing institutional interest in the Avalanche ecosystem—from JPMorgan to Apollo and BlackRock—alongside the Avalanche Foundation’s $1 billion treasury. Traders should note that AVAX One’s large-scale token accumulation and share repurchase could tighten AVAX supply and underpin a bullish price outlook.

Lighter spot trading testnet launched, inviting user feedback ahead of mainnet launch. On November 25, crypto trading protocol Lighter announced on X platform that its spot trading testnet is now live. Traders can test order placement, execution and settlement in a sandbox environment. Feedback will inform final adjustments and security reviews leading up to the mainnet. This milestone follows Lighter’s successful $68 million funding round completed on November 11, led by Founders Fund and Ribbit Capital. The Lighter spot trading testnet launch demonstrates the protocol’s progress in developing a low-latency, feature-rich trading platform and positions it for further ecosystem growth.

A trader known as Calm Long King faced 31 crypto short liquidations, costing $2.78 million in Bitcoin (BTC) and Solana (SOL) bets. BTC short exposure fell from $41.72 million to $22.05 million, with an unrealized loss of $1.09 million and a liquidation price around $89,900. SOL shorts dropped from $30.89 million to $15.12 million, generating a $1.18 million unrealized loss and triggering a $142 liquidation level. Amid strengthening BTC momentum, the trader added to a Zcash (ZEC) short and closed the SOL position. These rapid liquidations highlight the dangers of high-leverage crypto trading and underscore the importance of margin monitoring. Traders should adjust risk management settings and watch critical support levels to avoid similar losses.

A sudden rally in major cryptocurrencies drove crypto futures liquidations to $235 million over 24 hours, up from initial estimates of $220 million. Bitcoin led the liquidations with $123 million wiped out (66.42% shorts), followed by Ethereum at $78.67 million (71.46% shorts), Solana at $33.60 million (84.96% shorts) and Zcash at $14.47 million. This sharp rise in crypto futures liquidations was triggered by rapid price gains and ensuing margin calls, fueling a classic short squeeze and amplifying market volatility. Historical data shows that large-scale liquidations can purge excessive leverage, potentially stabilizing prices in subsequent sessions. Key takeaways for traders include strict risk management in crypto futures trading: use proper position sizing, set stop-loss orders, monitor funding rates, diversify assets, and maintain adequate margin buffers. Understanding liquidity cascades and funding dynamics is essential to anticipate future squeezes and protect leveraged positions.

Over 2,000 bank advisors from major institutions including TD Securities, Evolve, and Interactive Brokers attended a live Bitcoin briefing organized by PrimeXBT and Coinbase. The event highlighted Bitcoin adoption trends, regulatory developments, and trading strategies for advisors. Speakers emphasized growing institutional interest and mainstream adoption as high-net-worth clients demand crypto exposure. The briefing featured market analysis on Bitcoin’s price action, risk management, and portfolio diversification benefits. Attendees received resources on crypto custody, compliance frameworks, and exchange services. This surge in advisor engagement underscores accelerating Bitcoin adoption and signals possible inflows from traditional finance into crypto markets.

A BitMEX Research study compares the impact of BRC-20 token inscriptions and Ordinal image inscriptions on Bitcoin full nodes. From October 2022 to September 2025, BRC-20 transactions accounted for 92.5 million inscriptions (27.8 GB, 13.9 M weight units), while Ordinal images made up only 2.7 million inscriptions (30 GB, 8.9 M weight units). Despite larger data volumes, Ordinal images benefit from witness data discounts and skip signature verification, slightly easing node validation. In contrast, BRC-20 inscriptions, structurally similar to regular transactions, inflate the UTXO set from 84 million to 169 million outputs and incur higher byte-based fees, raising node storage and memory costs. Performance tests on Bitcoin Core v29.1 show negligible correlation between inscription data size and block validation speed once signature checks are enabled. The research concludes that while large Ordinal image data may marginally offset their space usage, BRC-20 inscriptions pose greater operational challenges for node runners by expanding the UTXO database and increasing resource requirements.

Google has denied using Gmail data to train its AI models, including Gemini AI. The company refutes viral reports claiming a privacy policy change would allow access to Gmail data, emails, and attachments for AI development. Google says smart features like spell check and smart reply still use personal data but operate independently of AI model training. It emphasizes that no updates to its privacy policy were made and that users retain full control over data usage through account settings. The clarification aims to address growing privacy concerns over data collection for AI development and underscores Google’s commitment to data security and transparent AI training protocols.

The Philippines placed 10th globally in ApeX Protocol’s latest Crypto Comfort Index with a score of 73.5, highlighting its growing crypto use infrastructure. The study evaluated seven indicators, including legal crypto status, crypto debit card availability, in-country transactions and search interest in “pay with crypto.” Key findings show that 10.6% of Filipinos own cryptocurrency and local searches for crypto payments average 3.5 K queries per month. While daily crypto transactions and debit cards are supported, real estate purchases using digital assets remain unavailable. Singapore leads the ranking with a near-perfect score of 99, followed by the United States (97) and Switzerland (95.3). Other top countries include Hong Kong, Canada, Australia, Brazil, Portugal and Ireland. ApeX Protocol notes that nations with clear, flexible regulations benefit economically as crypto use expands.

The Upbit and Naver Financial merger combines South Korea’s largest internet firm with the country’s top crypto exchange. Valued at ₩50 trillion ($34 billion), the deal via share swap gives Dunamu investors 30% of the combined entity. This Upbit and Naver Financial merger underscores Upbit’s liquidity and Naver’s digital reach. The merger aims to list on Nasdaq to access higher valuation multiples, with Upbit’s daily trading volume rivaling Nasdaq-listed peers. The integrated Web3 finance platform will offer Naver Pay’s tens of millions of users fiat payments, crypto trading, cross-border remittances and a Korean-won stablecoin. The stablecoin initiative taps recent regulatory easing on bank participation, targeting retail payments and cross-border settlement. The deal faces Korean antitrust review and a $25.7 million FIU fine over weak KYC controls. If approved, the merger could create an Asian crypto powerhouse and boost trading volumes, making it a key catalyst for market sentiment.