Latest Crypto News | Bitcoin, Ethereum and Altcoin Updates

USX, a Solana-native dollar-pegged stablecoin issued by Solstice Finance, experienced an extreme secondary-market depeg on Dec 26, 2025 after severe liquidity evaporation on DEXs (Orca, Raydium). On isolated trades reported by PeckShield, USX briefly fell to $0.10 amid extremely thin order books; aggregated DEX data showed many trades clustered around $0.80 before Solstice and market makers injected liquidity. Primary-market reserves remained overcollateralized and 1:1 redemptions through permissioned institutional channels were operational throughout. After liquidity support, USX recovered to roughly $0.94 and later near $0.995; CoinGecko logged an intraday low of $0.8285 and a high of $1.01. Solstice plans third-party attestation of collateral and is working with partners to deepen secondary-market liquidity. Market context: USX’s market cap is in the hundreds of millions (≈$284M reported) within a stablecoin sector valued at hundreds of billions, underscoring systemic liquidity risks. Key takeaways for traders: (1) secondary-market liquidity shortfalls can produce extreme, short-lived price dislocations even when on‑chain collateral is intact; (2) issuer and market‑maker interventions can restore peg quickly but do not remove reputational and contagion risk; (3) expect elevated intraday volatility for USX and potential spillovers to Solana-linked assets and other algorithmic or thinly collateralized stablecoins while attestation and liquidity measures are pending. Monitor DEX depth, on‑chain reserve attestations, redemption status, and market‑maker activity for trading and risk decisions.

Trust Wallet’s Chrome browser extension (v2.68) was compromised over the Christmas period, leading to roughly $7 million in user losses. Security firm SlowMist says a malicious backdoor was prepared from Dec. 8, injected Dec. 22 and began siphoning funds on Dec. 25; it also reportedly exfiltrated personal data. On-chain investigator ZachXBT and other researchers flagged hundreds of affected users. Binance founder Changpeng “CZ” Zhao — Trust Wallet’s owner — announced that Trust Wallet will fully reimburse victims and suggested possible insider involvement. Trust Wallet advised desktop users to disable the compromised extension and upgrade to the patched release (users were told to install the fixed extension from the official Chrome Web Store). The incident highlights growing supply-chain and browser-extension risks for desktop wallets and is being discussed alongside broader industry theft trends: Chainalysis data shows personal-wallet compromises are a rising share of stolen crypto. For traders: expect potential short-term selling pressure on affected ecosystem tokens and increased demand for hardware and custodial solutions; monitor wallet-extension updates, reimbursement timelines, and any follow-up forensic or regulatory findings.

Trust Wallet’s Chrome browser extension (version 2.68) was compromised via a malicious update that exfiltrated seed phrases and allowed attackers to drain wallets across multiple chains. Blockchain investigators traced more than $7 million stolen from wallets on BTC, ETH, SOL and BNB Chain, with funds rapidly routed through exchanges, swaps and mixers. The company confirmed the breach on-chain after researcher ZachXBT raised the alarm. Binance co-founder and CEO Changpeng Zhao (CZ) said Binance/Trust Wallet will reimburse verified losses and described the funds as “SAFU.” Trust Wallet released patched extension links and advised affected users to disable version 2.68 immediately and upgrade to 2.69; mobile apps and other extension versions were not affected. The team also warned against importing seed phrases into browser extensions and recommended hardware wallets for large balances. An internal review is under way to determine how a malicious update passed submission checks; investigations and reimbursement processes are ongoing. For traders: expect continued scrutiny on browser-extension security, potential short-term selling pressure on tokens tied to compromised chains if large on-chain sell-offs persist, and heightened demand for hardware and custody solutions.

Caroline Ellison, former CEO of Alameda Research, is scheduled for release from federal custody on January 21, 2026, according to U.S. Bureau of Prisons records. Ellison, 31, pleaded guilty in December 2022 to fraud and conspiracy tied to the 2022 collapse of FTX and cooperated extensively with prosecutors, including testifying against FTX founder Sam Bankman‑Fried. She was sentenced in September 2024 to 24 months’ imprisonment and ordered to forfeit about $11 billion; she began serving her sentence in November 2024. Records show Ellison was transferred in October 2025 from a Connecticut federal prison to a Residential Reentry Management (RRM) office in New York and has been in community confinement since October 16, 2025. Her release date was recently moved forward from February 20, 2026 to January 21, 2026 — officials have not publicly explained the change, though it is likely due to good‑conduct credits and reentry programs. Post‑release conditions include three years of supervised release and a consented 10‑year bar on serving as an officer or director of public companies or crypto exchanges, per SEC notices. Sam Bankman‑Fried remains serving a 25‑year sentence and is pursuing clemency. For crypto traders: the development is primarily legal and personnel‑focused and is unlikely to directly move markets. However, Ellison’s early release and continued regulatory restrictions reinforce ongoing regulatory scrutiny and reputational risk tied to FTX‑related actors, which could sustain higher compliance costs and cautious sentiment across crypto firms.

Sberbank, Russia’s largest bank, is exploring ruble loans collateralised by cryptocurrencies such as Bitcoin and other digital assets. Deputy Chairman Anatoly Popov said the bank aims to let retail and corporate clients pledge crypto to obtain fiat liquidity without selling holdings, while working closely with regulators to design custody, operational infrastructure and legal safeguards. Sberbank has piloted custody via its Rutoken solution and organised more than 160 digital asset issuances this year, including tokenised real estate and oil-linked instruments, and is experimenting with DeFi tools. The bank is assessing technical, legal and regulatory requirements and says formal approvals will be required before rollout. Observers expect a gradual, regulated deployment; if authorised, the product could set a precedent and encourage other Russian banks to offer crypto-backed ruble lending. Key implications for traders include increased on-chain utility for Bitcoin and tokenised assets in Russia, potential growth in ruble-denominated crypto lending markets, and closer alignment between institutional banking and digital-asset ecosystems.

Russian President Vladimir Putin said talks with US representatives covered joint management of the Russian-held Zaporizhzhia Nuclear Power Plant and the possibility of using its electricity for crypto mining. Putin told Kommersant that Washington had expressed interest in establishing crypto-mining operations at Europe’s largest nuclear site and that supplying power from the plant to Ukraine was also discussed. He said Ukrainian staff still operate the facility but have taken Russian citizenship; Russia has controlled the plant since March 2022 and runs it via Rosatom. Kyiv rejects any deal that sidelines Ukrainian sovereignty and insists on restoring Ukrainian control and demilitarizing the site. The plant, once supplying over 20% of Ukraine’s electricity, remains fragile with safety warnings from the IAEA and recurring power disruptions. For crypto traders: claims that the US considered using Zaporizhzhia’s baseload nuclear power for Bitcoin mining are unconfirmed and politically sensitive. Any material development — including changes to power routing or governance at the plant — would be highly geopolitical, could affect industry power availability and miner operating costs, and might influence Bitcoin sentiment and energy-dependent mining equities or ETFs. Monitor confirmations from Washington, Ukrainian and IAEA statements, and any on-the-ground changes to the plant’s power output or access before positioning trades.

Hyperliquid closed 2025 with record growth across users, trading volume, liquidity and revenue, according to ASXN-sourced data cited by the platform. Key figures: ~609,700 new users, $2.95 trillion in cumulative trading volume across about 198.9 billion trades, roughly $844 million in revenue, net inflows near $3.87 billion and year-end TVL around $4.15 billion. The platform runs on its own Layer‑1 (HyperBFT), which it credits for processing an average of 6,502 orders per second, near-CEX execution speeds, zero gas fees and non‑custodial on‑chain settlement. Hyperliquid says the combination of high throughput, low latency and fee savings attracted both retail and advanced traders to perpetual futures and other derivatives. Market volatility and active derivatives usage in 2025 supported inflows and fee generation, helping the exchange reach top-tier DeFi profitability. Observers highlight Hyperliquid’s model — custom Layer‑1 performance plus DeFi transparency — as a competitive challenge to centralized exchanges and as evidence that decentralized derivatives can scale. For traders: higher volumes and deepened liquidity may improve execution and reduce slippage on derivatives pairs hosted on Hyperliquid; however, rising platform prominence could also increase regulatory scrutiny and competitive responses from CEXs. Primary keywords: Hyperliquid, decentralized derivatives, Layer‑1, trading volume, TVL, revenue.

Uniswap governance approved the ‘UNIfication’ proposal, switching on protocol fees and authorising a one‑time retroactive burn of 100 million UNI from the treasury (roughly $590M at reporting prices). The vote saw overwhelming support (over 125 million SUPPORT vs. ~742 dissenting), converting UNI from a governance‑only token toward a value‑accruing asset. Going forward, a portion of trading fees on Uniswap — which averages about $2 billion in daily volume and generates roughly $600M annualised fees — will be routed on‑chain to a burn mechanism rather than paid exclusively to liquidity providers. The change links platform revenue to token supply dynamics and creates a direct deflationary pressure: as protocol usage rises, more UNI will be removed from circulation. A short governance timelock precedes activation; markets reacted modestly with UNI trading near $5.90 and technicals (RSI ~53, MACD histogram positive) suggesting possible near‑term bullish momentum toward resistance around $6.50–$6.60. Traders should factor the immediate supply cut and the new fee‑to‑burn revenue flow into short‑ and long‑term position sizing and risk management.

Aptos (APT) has posted a short-term rebound — roughly +1.3% in 24 hours and about +15.8% over the week — yet remains inside a longer-term downtrend. Price is testing resistance around $1.70–$1.72 after an October sell-off that broke prior support near $4.32. Technicals are mixed: RSI has recovered from oversold levels, signaling temporary buying interest, while On‑Balance Volume (OBV) sits near multi-year lows, indicating persistent selling pressure. APT’s price remains closely correlated with Bitcoin (BTC); BTC’s recent ~1.5% rise toward $90k provided altcoin relief, and an upcoming BTC options expiry could increase short-term volatility and possibly lift APT toward $1.90–$2.00 if a broader rally occurs. On-chain and fundamental signals are weak — declining transaction and developer activity and capital flow favoring Solana (SOL) memecoin action — so any durable reversal would require both technical breakout above $1.70 and improving fundamentals. Short-term trading band: $1.56 support and $1.69–$1.72 resistance. Traders should treat the current move as a relief rally: consider range trades (buy near support, short near resistance), manage risk with tight stop-losses, monitor BTC direction, OBV and RSI for conviction, and wait for confirmed breakout (targets $1.90–$2.00) or breakdown below $1.56 for continuation of the bear trend.

The Bank of Lithuania has set a firm deadline requiring domestic crypto-asset service providers to obtain MiCA-compliant licenses by December 31, 2025. From January 1, 2026, any unlicensed onboarding, custody or service provision will be illegal and subject to enforcement including fines, website blocks and potential criminal prosecution (penalties include up to four years’ imprisonment). The central bank urged firms to apply immediately. It also issued guidance for orderly wind-downs for operators that do not intend to seek licenses — including notifying customers, providing clear withdrawal and transfer instructions, and returning custodied assets. Lithuania implemented the licensing regime under the EU Markets in Crypto-Assets (MiCA) framework and the transitional period allowing existing firms to seek approval expires at year-end. Of more than 370 crypto firms registered in Lithuania as of mid-July 2025, only about 30 had submitted license applications and roughly 10 reached active evaluation, indicating a likely large market contraction or relocation of services. MiCA compliance imposes stricter governance, local AML officer residency, written risk-management systems and minimum capital thresholds (EUR 50,000–150,000 depending on services). Traders should watch for immediate market-moving events: exchange relocations, site blocks, mass asset withdrawals and reduced liquidity or wider spreads on affected tokens. Expect sector consolidation and operational disruptions in the short term; monitor order books, withdrawal flows and listings to manage execution and counterparty risk.

Mutuum Finance (MUTM), a decentralized lending protocol, has made notable presale progress and is preparing a coordinated testnet and token launch. The presale has raised about $19.45 million from a fixed 4 billion MUTM supply; the current phase price is $0.035 and early-phase allocations are nearly fully sold (current phase ~98% sold, 825M tokens sold across presale stages). Over 18,600 holders have joined and card payments with no purchase limits were recently enabled to broaden access. The project implements two lending models: Peer-to-Contract (P2C) for liquid, well-known assets (initial launch assets ETH and USDT) that mint mtTokens for depositors, and Peer-to-Peer (P2P) for higher-volatility tokens allowing direct lender–borrower terms. Features include variable and stable-rate options, a Stability Factor for overcollateralization, automated liquidations and a liquidator bot. Security checks reported include a CertiK token scan and an independent Halborn Security audit (reported complete in the later update). V1 is scheduled for Sepolia testnet in Q4 2025 with coordinated token listing and platform launch planned to provide immediate utility. Analysts cite tight early allocations and whale interest as scarcity drivers; some bullish scenarios project significant upside (conditional on execution and adoption). For traders, key takeaways are rapid presale uptake, limited remaining supply at early pricing, planned testnet timeline that may influence listing and liquidity, and mandatory overcollateralization which affects use-case risk. This is a sponsored press release and not investment advice — perform your own due diligence.

The Crypto Fear & Greed Index has remained in the “Extreme Fear” band (0–24) for 14 consecutive days, registering 20 on Dec. 26, 2025. This extended streak surpasses the index’s extreme readings during the November 2022 FTX collapse, despite Bitcoin trading near $88k — roughly five times higher than during the FTX-era crash. The index, compiled by Alternative.me from volatility, volume, dominance and social metrics, reflects sustained anxiety rather than a single liquidity shock. Market conditions seen across the two reports: muted spot volumes compared with the 2024 ETF launch window; compressed funding rates and falling open interest on BTC perpetuals (lower leverage); sideways broader market action with NFT tokens down over 24h and some small gains in AI/SocialFi-related baskets; and social/search engagement returning to bear-market norms. Macro and regulatory headwinds persist — U.S. rates remain restrictive and enforcement on centralized venues and stablecoin issuers continues. Traders should note that prolonged “Extreme Fear” typically coincides with lower liquidity and higher volatility, which can amplify price moves on low-volume flows and limit altcoin rallies due to subdued retail participation. While the index’s methodology often flags extreme fear as a potential buying opportunity, current signals suggest caution: the reading reflects persistent low leverage and sentiment risk, and ongoing macro/regulatory developments could keep downside pressure on BTC in the near term.

Coinbase confirmed Indian authorities arrested a former customer‑service agent tied to the May security breach in which attackers bribed overseas support staff to obtain sensitive customer data and demanded a $20 million ransom. U.S. law enforcement and the Brooklyn District Attorney’s Office cooperated in the probe; prosecutors also charged a Brooklyn man accused of running impersonation frauds using the compromised data. Coinbase estimated remediation costs could reach up to $400 million. CEO Brian Armstrong thanked Hyderabad police and said further arrests are expected. The incident highlights ongoing third‑party and insider risks for crypto exchanges and prompted a roughly 1.2% dip in Coinbase’s shares, underscoring investor sensitivity to security lapses. Traders should monitor potential regulatory scrutiny, any disclosures about affected accounts or force‑logout actions, and whether remediation or legal costs materially affect Coinbase’s operations or liquidity.

WazirX founder and CEO Nischal Shetty confirmed the long-running ownership dispute with Binance has escalated into formal litigation. The disagreement dates to Binance’s 2019–2020 acquisition announcement: WazirX says it holds legal documents proving Binance’s stake, while Binance publicly denies ownership. The case follows a July 2024 hack in which WazirX lost roughly $230 million from an external fund-management site tied to its multi-signature setup. Shetty said the hack targeted an external service and declined to comment on any post-hack contact from Binance because the matter is sub judice. Separately, WazirX used Liminal’s multisignature custody software; Liminal denies being breached and says about $175 million remained under its control 75 days after the theft. WazirX has pledged to migrate assets to new multi-signature wallets and publish the wallet list for transparency. For traders: litigation increases uncertainty over platform control, asset recovery and operational clarity for WazirX’s user base. Monitor court filings, official wallet migrations, on-chain movements, regulatory actions in India and updates on asset recoveries and withdrawal restrictions. Keywords: WazirX, Binance, litigation, exchange hack, multisig custody, wallet migration, asset recovery.

Solana led blockchain app revenues in 2025 with about $1.3 billion, driven by meme-token cycles, AI agent activity and a late-year DeFi resurgence. Cryptorank data showed Solana surpassed Ethereum in users, transactions and app revenues for much of the year, with app-driven income dominating for over seven months. Hyperliquid’s native HyperCore chain ranked second with roughly $908 million in native-chain revenues after its first full year as a perpetual-futures DEX — $848 million came from perpetual futures trading. Hyperliquid reported $3.87 billion in deposits, about 609,000 new users, $46 million distributed to builders and nearly $1 million from ticker auctions. Ethereum generated $524 million in 2025, BNB Chain $257 million and Base $76.4 million. Several legacy networks (Avalanche, Filecoin, TON) dropped from the top 10 as apps migrated to newer L1/L2s and specialized chains (EdgeX, Axelar, Bittensor, Optimism) rose based on strong single-app performance. The broader market takeaway for traders: 2025 marked a shift from incentive-led volume to predictable, app-driven revenue streams — favoring chains and apps with real user traction rather than airdrop farming. Traders should monitor Solana metrics (users, transactions, app revenues), DEX volumes and perpetual futures flows as potential trade signals; Hyperliquid’s results also highlight the revenue and liquidity potential of perpetual DEXs and native-chain settlement models.

China’s regulators and UBS SDIC Fund Management suspended new subscriptions to the UBS SDIC Silver Futures Fund LOF Class C after the fund’s secondary-market price traded at a premium exceeding 60% to its underlying Shanghai silver futures. Retail-driven buying—amplified by step-by-step arbitrage guides on social platforms such as Xiaohongshu—pushed the fund to hit daily 10% limits for three consecutive sessions. The manager previously cut subscription caps (Class C from ¥500 to ¥100; reductions to Class A) but these measures failed to stem demand, and premiums briefly remained near 44% after the limits. Year-to-date the fund rose about 187%, outpacing Shanghai silver futures (~145%), reflecting intense retail flows into a limited set of domestic silver products. Regulators and the manager cited the large disconnect between market price and net asset value, thin underlying silver liquidity, and elevated downside risk from a potential rapid sentiment reversal as reasons for intervention. Traders should watch for spillovers into other metals LOFs, shifts in on‑shore liquidity, widening arbitrage opportunities, and heightened volatility in related commodities and safe‑haven assets. Primary SEO keywords: China silver fund, UBS SDIC, silver LOF, premium, retail frenzy. (Main keyword "China silver fund" appears multiple times.)

Strategy CEO Phong Le says Bitcoin’s fundamentals remain strong despite a roughly 29% drop from October highs. Speaking on the Coin Stories podcast (Dec. 23), Le urged investors to use disciplined, quantitative, long-term approaches — highlighting metrics such as mNAV (market cap vs. BTC treasury value), a dedicated Bitcoin treasury and a US dollar reserve. Strategy holds about 671,268 BTC (~$59B at reporting) and has set aside a $1.4B USD reserve for shareholder dividends. Le pointed to growing institutional and government engagement — meetings with US banks and talks in the UAE — and described significant US government support as a bullish catalyst toward 2026. Market context: BTC hit an all-time high in early October (~$125–126k) and traded near ~$87k at the time of reporting; the Crypto Fear & Greed Index has been in “Extreme Fear.” Key takeaways for traders: monitor mNAV and treasury metrics, expect elevated near-term volatility, prefer methodical, fundamentals-focused positioning, and watch for institutional or policy developments that could materially shift sentiment.

A whale moved 3,000,000 TRUMP tokens (~$14.88M) into Binance after roughly 50 days of accumulation, realizing an estimated $7.8M loss versus a prior withdrawal valued at about $22.68M, according to on-chain trackers (Lookonchain/Onchain Lens). The deposit signals capitulation and increased short-term sell-side supply, but the market absorbed much of the selling: spot price held above $4.80 and traded around a $5 pivot. TRUMP briefly broke a descending channel but failed to sustain gains above the $5.20–$5.25 resistance and has since reverted toward the $5 level. Technical indicators show neutral-to-weak momentum (RSI ≈ 46). On-chain and market metrics — including a positive 90-day CVD (CryptoQuant) and a CoinGlass 4-hour long/short ratio near 1.32 — suggest buyers have been absorbing supply without strong bullish follow-through. Liquidity clusters and liquidation heatmaps concentrate around $5.10–$5.20, making that band a likely test point and potential stop-run zone. Traders should monitor exchange inflows, spot CVD, liquidity bands, and price reaction at $5 support and $5.20 resistance for short-term volatility and possible additional selling pressure.

CryptoRank data shows Solana (SOL) and derivatives platform Hyperliquid (HYPE) led blockchain revenue in 2025, with Solana collecting about $1.3 billion in on-chain fees and Hyperliquid about $816 million; Ethereum (ETH) generated roughly $524 million. Solana’s revenue was driven by sustained transaction throughput across DEX activity, memecoin trading, DePIN and consumer apps while its TVL remained range-bound at roughly $7–$12 billion — indicating higher fee generation per unit of capital rather than TVL growth. Hyperliquid’s fees were concentrated in perpetuals and derivatives execution; its TVL rose from ~$2 billion early in the year to peaks above $6 billion before settling near $4.1 billion. Santiment and CryptoRank evidence cited in the reports point to a market shift: networks optimised for execution quality and high-frequency activity convert flow into fees more efficiently than chains that rely on deep but less active liquidity. For traders, the key takeaways are to monitor on-chain activity metrics (transaction volume, DEX swaps, derivatives volume) and fee-capture rates as leading indicators of network revenue potential. Watch SOL for throughput-driven trade opportunities and HYPE for derivatives flow — but adjust risk sizing for liquidity concentration and potential sentiment swings.

Mutuum Finance (MUTM), a decentralized lending protocol, is nearing the end of its presale with Phase 6 over 99% allocated. The project has raised $19.45M, sold 825 million MUTM of a 4 billion max supply (45.5% allocated to early distribution), and has about 18,650 holders. Presale price moved from $0.01 in Phase 1 to $0.035 now; the planned public launch price is $0.06. Product and infrastructure highlights include a dual lending model (peer-to-contract liquidity pools plus peer-to-peer loans), utilization-based interest rates, mtTokens (interest-accruing supply tokens), debt tokens, an automated liquidator, a fee-driven buy-and-distribute mechanism, and planned oracle integration (eg. Chainlink) with fallback pricing. V1 is scheduled for Sepolia testnet in Q4 2025 supporting ETH and USDT. Security and risk mitigation measures cited: a CertiK token scan (90/100), an independent Halborn review in progress, and a $50k bug bounty. On-chain indicators reported include six-figure whale purchases, an active depositor leaderboard, and card payment on-ramps to boost acquisition. Analysts model bullish scenarios — short-term moves toward or above the $0.06 launch price (200–300% from current levels) and longer-term 500–700% upside if adoption, execution, and presale scarcity hold. Key risks: centralization of supply, execution risk at mainnet launch, audit outcomes, exchange liquidity at listing, and overall market conditions. For traders, monitor holder growth, whale activity, distribution concentration, audit reports, V1 testnet results, and available liquidity at launch before sizing positions.

Trust Wallet confirmed a security incident in its Chrome browser extension v2.68 that led to roughly $7 million in funds being drained. Blockchain investigator ZachXBT first flagged suspicious drains after users imported seed phrases into the extension; researchers suspect a supply‑chain or malicious update introduced the vulnerability. Trust Wallet says the issue was isolated to v2.68 — mobile apps and other extension versions were not affected — and advised users to disable the extension immediately and update to v2.69. The company published an official update on Dec 26, is conducting internal audits, has not disclosed a full technical root cause, and warns users to ignore messages outside official channels to avoid follow‑on phishing scams. Trust Wallet has committed to fully refunding affected users and is finalising the refund process. Key trader actions: monitor TWT sentiment and on‑chain movements from drained wallets, avoid interacting with untrusted extensions, consider moving high‑value holdings to hardware wallets or multisig, and verify any refund instructions via official Trust Wallet channels. Primary keywords: Trust Wallet, browser extension security, $7M loss. Secondary/semantic keywords: supply‑chain attack, seed phrase compromise, refund, on‑chain draining, extension update.

Galaxy Digital CEO Mike Novogratz warned that community loyalty alone will not sustain tokens like XRP and ADA through the 2025 market cycle; projects must demonstrate measurable real-world utility and revenue models. Novogratz contrasted Bitcoin’s distinct valuation as money with other chains that will be valued like businesses, driven by revenues, profits and platform usage. He singled out XRP and Cardano (ADA) as examples facing pressure to move beyond narrative and prove business use cases such as cross-border payments, enterprise adoption and protocol fee generation. Key metrics traders should watch include transaction fee revenue, protocol revenue distribution, enterprise partnerships, developer activity and on-chain usage. Novogratz noted market maturation — greater institutional participation and regulatory scrutiny — is shifting capital toward assets with demonstrable economic substance and management quality. He cited token models with clear, equity-like value (e.g., tokens using buybacks/burns tied to profits) as increasingly favored. Galaxy Digital’s internal tracking shows divergence between genuinely adopted networks and those reliant on community momentum; historical cycles (like many 2017 ICO tokens fading) support the view that projects with real use cases hold up better. For traders, the takeaway is to prioritize fundamentals — measurable usage, partnership announcements, on-chain revenue metrics and developer engagement — when assessing XRP and ADA exposure ahead of the next cycle. This is not trading advice; investors should do independent research.

Nicholas Crypto Income ETF (BLOX) has outperformed both YieldMax’s LFGY and a spot Bitcoin ETF (IBIT) over the past six months, returning +15.51% versus IBIT’s -14.62% and LFGY’s capital-depleting performance. Earlier coverage described BLOX as an income-first product using ETP holdings, crypto equities and options-writing to target high distributions (much classified as return of capital). The later, updated analysis credits BLOX’s recent outperformance to a diversified portfolio mix — spot Bitcoin ETFs, crypto equities and flexible options strategies (put spreads and covered-call-like structures) — and to income from physical assets plus options premiums. By contrast, LFGY relies on a synthetic options approach that the author argues produces higher beta, structural capital erosion and larger NAV drawdowns during Bitcoin sell-offs. A stress test cited in the updated piece estimates a 20% Bitcoin drop could cut BLOX NAV by ~18–25% but LFGY NAV by ~35–45%. Analysts rate BLOX a Buy for its structured asset selection and income generation, and assign LFGY a Hold due to higher downside risk. Key takeaways for traders: BLOX offers income overlay and lower downside volatility versus pure-spot BTC exposure, benefits from options premium and diversified holdings, and may trade with lower beta to BTC/ETH; however, many distributions are return of capital (affecting tax timing and cost basis) and payout sustainability depends on ongoing options income and market volatility. Short-term implication: BLOX can cushion BTC drawdowns but may lag strong crypto rallies. Long-term implication: BLOX is more defensive in prolonged bear markets but will underperform in sharp bull runs.

On-chain data show large Bitcoin holders (100–1,000 BTC, dubbed “sharks”) sharply increased net purchases in late 2025 while BTC traded in a narrow range. Glassnode-derived metrics and estimates indicate these wallets accumulated up to roughly $23.5 billion of BTC in recent weeks, though totals vary with cohort definitions, custody reshuffles and price assumptions. Over the same six-month window, traditional safe-haven metals outperformed: gold rose ~38% and silver over 100%, while Bitcoin’s market cap fell about 17% from highs above $110,000. Price action has retraced from >$110k into a tight consolidation between roughly $85,000 and $92,000, with long-wick candles and compressed volatility signalling two-way trading and market absorption of prior selling. Net inflows into some U.S. spot BTC ETFs persist, pointing to continued institutional demand. Analysts caution on-chain accumulation can be skewed by exchange/custody address moves but say sustained buying by large wallets often reflects longer-term bullish positioning by smart money. For traders: large-wallet accumulation is a bullish structural signal for BTC, metals’ outperformance suggests capital rotated into safe havens (risk-off flows), and the current technical compression raises the odds of a decisive breakout or breakdown — watch support, resistance and ETF flows for triggers and liquidity dynamics.

Japan’s FY2026 tax blueprint proposes reclassifying certain crypto assets as financial products and taxing eligible spot trading, derivatives and crypto ETFs under a separate regime. Key measures in the draft include a proposed flat combined national and local tax of about 20% on eligible crypto gains (vs. current miscellaneous-income rates up to ~55%) and allowing up to three years of loss carryforward for trading losses. Eligibility is likely limited to “specified crypto assets” handled by firms registered under the Financial Instruments and Exchange Act, which could exclude smaller tokens, informal markets and activities on unregistered platforms. Staking rewards, lending yields and most NFT transactions appear to remain taxed as general (miscellaneous) income and outside the new regime. The draft aims to align crypto taxation more closely with equities, which could encourage institutional participation, improve liquidity and strengthen the case for spot Bitcoin ETFs and other regulated products. Authorities stress the blueprint signals intent rather than finalized law; implementation details, exact scope, qualifying criteria and transitional rules remain subject to future legislation and regulatory guidance. Traders should monitor scope definitions, registration requirements and timing — changes would affect after-tax returns, position sizing, loss-harvesting strategies and whether to route activity through registered venues ahead of FY2026.

Aave DAO voters rejected a proposal to transfer off-chain brand assets (domains, social accounts, trademarks, GitHub and naming rights) from Aave Labs to DAO control. The vote closed Dec. 25 with record turnout: ~1.8M AAVE in voting power. Results: 55.3% NO, 3.5% YES and 41.2% ABSTAIN. Snapshot data showed concentrated voting power — the top three wallets held over 58% of votes (largest ~27.1%, aci.eth ~18.5%) — raising concerns about decentralization and vote representation. The proposal had been proposed by former Aave Labs CTO Ernesto Boado to better align economic risk borne by $AAVE holders with control over brand assets. The governance clash followed controversy after Aave Labs integrated CoW Swap into app.aave.com, which redirected swap fees to an Aave Labs wallet rather than the DAO treasury — a change critics estimated could divert up to ~$10m annually. Aave founder Stani Kulechov publicly supported alignment but disclosed a personal $15m $AAVE purchase before the vote, saying the buy reflected conviction and was not intended to sway governance. Aave DAO’s treasury reported strong performance (about $140m revenue in 2025), and Kulechov pledged clearer explanations of how Aave Labs products create value for $AAVE holders and better Labs–DAO alignment. Key implications for traders: governance tensions persist between Aave Labs and token holders; concentrated voting power keeps representation and decentralization risks elevated; potential follow-up proposals on fee routing or asset control could spur volatility; leadership moves and public token buys may affect market sentiment and liquidity for AAVE. Primary keywords: Aave, AAVE token, DAO governance, treasury revenue, governance vote. Secondary/semantic keywords: brand assets, CoW Swap, fee routing, vote concentration, Stani Kulechov.

Sberbank, Russia’s largest bank, has issued a pilot corporate loan secured by domestically mined cryptocurrency to Intelion Data JSC, one of the country’s largest miners. The mined coins (including Bitcoin) are held in Sberbank’s Rutoken custody system for the loan term to reduce custody and volatility risk. Sberbank Deputy Chairman Anatoly Popov said the transaction tested digital-collateral processes and compliance workflows that could inform upcoming regulation. The pilot anticipates planned changes from the Bank of Russia that would broaden crypto trading and derivatives access for retail and qualified investors by July 1, 2026. The move follows Russia’s 2024 mining regulation—though fewer than one-third of miners have registered—within a sector estimated at roughly 200,000 farms and significant concentration among large operators (Intelion, Bitriver). Key implications for traders: (1) increased institutional acceptance of BTC and other mined assets as bank-backed collateral; (2) potential rise in demand for on-chain custody and custody-as-a-service offerings like Rutoken; (3) miners gaining access to liquidity without selling holdings, which could reduce selling pressure; and (4) regulatory developments that may change mining economics and capital flows in Russia. Traders should monitor further bank pilots, registration uptake among miners, and the Central Bank’s regulatory timeline, as these factors could affect regional BTC supply dynamics and custody demand.

Tokenized commodities — blockchain-backed digital representations of physical metals — have climbed to an estimated $3.93 billion after rising about 11% in the past month, driven by record highs in precious metals. Spot gold peaked near $4,530/oz and silver briefly hit $74.56/oz. RWA.xyz data show Tether Gold (XAUt) leads the market at roughly $1.74 billion and Paxos Gold (PAXG) follows at about $1.61 billion. Tokenized precious metals enable on-chain transfers outside traditional market hours, but pricing, liquidity and redemption remain tied to legacy markets and off-chain infrastructure. Ethereum dominates tokenized real-world assets (RWA), holding approximately 65% of tokenized RWA value (~$12.7B), with BNB Chain around 10.5% (~$1.85B). Standard Chartered projects tokenized RWA (excluding stablecoins) could expand to $2 trillion by 2028, with about $250 billion flowing into less liquid asset classes such as private equity and commodities. On-chain activity from RWAs is increasing Ethereum fees (Ethereum recorded ~$11.41M in fees over the past 30 days) but remains small versus stablecoins and fungible-token trading; chains dominated by stablecoins (Tron, BNB Chain, Solana) currently capture larger fee shares. For traders: rising tokenized commodity market caps and record metal prices signal growing institutional and retail interest, especially for Ethereum-based tokenized assets. Expect potential increases in on-chain trading volume and liquidity for XAUt and PAXG, greater correlation between crypto and precious-metal markets, and persistent counterparty and redemption risks tied to off-chain custodial and pricing mechanisms. Watch Ethereum activity and fee metrics for signs of growing RWA flow, and monitor liquidity/redemption terms of individual tokenized metal products before trading.

The Crypto Fear & Greed Index registered an ’extreme fear’ reading of 20 on Dec. 26, marking about two weeks of elevated fear — one of the longest such streaks since the index began in 2018. The index fell three points on Dec. 26 and has weakened steadily since October following a near-$500 billion market drawdown tied to US–China tariff tensions and an October 10 liquidation wave. The gauge combines volatility, trading volume, social sentiment, Google Trends, investor surveys and Bitcoin dominance. Data providers report sharply reduced retail engagement: Google search and Wikipedia traffic, forum activity and social volume have dropped to typical bear-market levels. Crypto-native retail is said to be largely sidelined after shocks such as the FTX collapse, memecoin crashes and absent altcoin seasons. Traditional retail flows into US spot Bitcoin ETFs remain strong (over $25bn in 2025), even as BTC trades roughly 30% below its October all-time high. Analysts warn macro uncertainty — notably Fed policy and potential changes to rate-cut expectations — could push Bitcoin lower; some market voices see scenarios where BTC falls toward the mid-five-figure range. For traders: the persistent ’extreme fear’ reading raises downside risk and the potential for amplified volatility and larger liquidations. Monitor Bitcoin dominance, volatility spikes, Google Trends and social-volume metrics for early signs of sentiment inflection. Prioritise risk management, position sizing and liquidity planning until retail engagement and macro clarity improve.