The unexpected “589” post from Solana’s official X account quickly opened up new discussions about whether something significant is forming between Solana and the XRP ecosystem. One of the reactions came from a community figure known as Cobb, who openly wondered if Ripple had just secured a major deal with Solana.
Nothing official has been announced, but a detailed breakdown from crypto commentator SonOfaRichard has brought clearer context to the situation. His explanation outlines what may be taking shape with the XRP-Solana connection and why the two networks could end up working together in a structured way.
Solana And XRPL Operate On Opposite Ends
In his response, SonOfaRichard noted how we’ve seen talks about Solana and XRPL integrations for a while, but then it has gone quiet. The pundit explained that Solana and the Ledger are often seen as competitors, yet their strengths sit in completely different areas.
Solana is known for dominating the consumer-facing side of crypto for fast applications, active DeFi projects, and high-volume execution. What it lacks is corridor depth in regulated markets, a strong connection to compliant liquidity.
XRP and the XRPL fill that gap. Ripple focuses on enterprise channels, settlement, compliance, and liquidity, while the Ledger acts as the underlying banking layer that institutions depend on.
This creates a situation where Solana brings the activity and the audiences, and the Ledger brings the settlement and regulatory foundation. Rather than overlapping or competing, the two ecosystems form a natural and optimal design pair: one pushes value into the economy, and the other provides the framework that allows that value to move safely and at scale.
Another major part of the pundit’s explanation is also the role of RLUSD, Ripple’s regulated USD stablecoin. Solana, despite its massive activity, does not yet have a strong, compliant USD pathway.
RLUSD could fill that need, acting as the channel through which consumer activity on Solana connects to regulated corridors worldwide. Under that arrangement, XRP becomes the collateral and final settlement layer sitting beneath both networks.
Explaining The “589” Message
The strong reaction to the post came from the fact that “589” is a well-known marker in the community. Solana followed it with another post showing the number in Morse code, paired with the flags of Solana, XRP, and Bitcoin, along with the caption “Time to flip the switch,” and even tagged Ripple’s CTO, David Schwartz.
Together, those posts have had more than six million views, making them the most-engaged content Solana has ever shared on the platform. The attention stemmed from the history of “589” itself, a number tied to long-running XRP memes and bold price expectations that have circulated within the community for years. Even so, there is still nothing concrete to confirm deeper intentions, and the posts could simply be part of a broader social media strategy.
US President Donald Trump’s name is back in the headlines this week as a Trump-branded mobile game tied to the TRUMP memecoin prepares to go live at the end of the month.
The title, called Trump Billionaires Club, is being marketed as a board-style mobile game that will let players buy virtual properties, trade NFT collectibles and use the TRUMP token inside the app.
Launch Set For December 30 On App Stores
According to the game’s public pages and several crypto outlets, the developer expects an App Store release on December 30, 2025, with pre-registration already open for players who want early access.
Reports have disclosed that the project is led by Bill Zanker and built by a studio using the name Freedom 45 Games, with licensing that allows use of Trump’s branding while noting the product is not created or distributed by his businesses.
$1,000,000 in $TRUMP Coin Rewards! Join the waitlist.
Roll the dice. Make huge deals. Build your empire!
The launch campaign will include a $1 million pool of $TRUMP tokens set aside for early players and leaderboard winners as part of pre-launch promotions and airdrops.
The game’s marketing highlights play-to-earn style rewards and tradable NFT items such as statues and pins, which are billed as in-game collectibles that can be bought and sold.
Crypto Connection: Game Tied Directly To TRUMP Coin
The title is explicitly linked to the TRUMP Coin ecosystem: users will be able to fund accounts with cash, crypto, or the TRUMP token, and in-game transactions are expected to use that token as currency.
That integration is part of an effort by promoters to give the memecoin “utility” beyond simple trading. Some early demos show a digital New York board where players roll dice, build and trade, while token balances move behind the scenes.
Token’s Sharp Drop Raises Questions
Reports have also pointed out that the TRUMP token has shed much of its market value since launch, with coverage noting an about 87% decline from peak levels — a collapse that adds urgency to promoters’ push to revive interest via gaming.
Observers and some crypto market analysts warn that giveaways and gimmicks can boost short-term attention but do not guarantee lasting demand or fair returns for buyers.
Featured image from Gemini, chart from TradingView
In the aftermath of a hack that saw attackers steal 44.5 billion won (approximately $30 million) from a Solana hot wallet, Upbit has begun shifting nearly all customer assets into cold storage, a move that now places it among the most conservative platforms globally in terms of online asset exposure.
This transition marks one of the strongest security pivots by a major exchange, signaling a broader industry conversation about balancing rapid withdrawals with the need to reduce attack surfaces.
As digital asset markets continue to expand, Upbit’s response provides a real-time glimpse into how platforms balance operational liquidity against systemic cyber risks.
Upbit Pushes Hot Wallet Usage Toward Zero
Following its internal review and system overhaul, Upbit confirmed that it now stores approximately 99% of user assets in cold wallets, with hot wallet exposure reduced to about 1% and expected to decrease further.
As of late October, the exchange held 98.33% of customer funds offline, a rate already well above the 80% minimum required under South Korea’s Virtual Asset User Protection Act.
This shift follows a pattern of rising caution. The recent breach was Upbit’s second significant attack, occurring on November 27, mirroring a 2019 incident that saw more than 342,000 ETH drained from its systems.
This year’s Solana-based attack resulted in withdrawals across 24 tokens within less than an hour, prompting an immediate shutdown of hot wallet operations and emergency transfers to cold storage. Upbit has pledged to fully reimburse affected users from corporate reserves.
Domestic data suggests that the exchange already leads the market in cold storage usage, maintaining the lowest hot wallet ratio among local competitors, whose cold wallet shares range from 82% to 90%.
Security Benchmark Sets Pressure on Global and Local Exchanges
Upbit’s near-99% cold wallet ratio surpasses the standards of major global exchanges. Coinbase stores about 98% of its funds offline, while Kraken’s ratio sits between 95% and 97%.
Several Asian exchanges, including OKX and Gate.io, maintain similar levels. With Upbit’s latest update, the platform now stands at the forefront of global cold storage practices.
Industry observers note that the move aligns with broader regulatory momentum. South Korea’s Financial Services Commission is considering new rules that would require exchanges to compensate users for losses resulting from hacks, regardless of fault, similar to the standards imposed on banks.
Liquidity Questions Linger in a Restricted Market
While security is at the center of Upbit’s restructuring, analysts caution that running with minimal hot wallet reserves may slow withdrawals during periods of heightened market volatility.
South Korea’s crypto market is largely closed to foreign participants, restricting arbitrage and creating conditions where delays can exacerbate price discrepancies, commonly known as the “Kimchi premium.”
During last month’s temporary withdrawal suspension, liquidity was effectively trapped, resulting in sharply widening price gaps between the Korean and global markets. Still, Upbit maintains that its rebuilt systems and predictive models will ensure sufficient liquidity under normal trading conditions.
Cover image from ChatGPT, BTCUSD chart from Tradingview
The Chief Executive Officer (CEO) of Strategy, Phong Le, has revealed the company’s long-term approach to its staggering Bitcoin (BTC) holdings. According to the Strategy executive, the firm currently has no immediate plans to sell any of its 650,000 BTC soon. He emphasized that only dire circumstances could force a Bitcoin sell-off—a scenario he projects will not occur for at least 40 years.
Strategy CEO Confirms 40-Year Bitcoin Hold
In an interview with CNBC on December 6, Le addressed questions about Strategy’s approach to Bitcoin and the future of its massive BTC bet. When asked whether the firm would ever sell its BTC stash of 650,000 tokens ($60.29 billion), Le emphasized that they intended to hold onto their holdings for as long as possible.
The Strategy CEO emphasized that selling would only occur under extreme market conditions, such as losing access to liquidity or US dollars, or if Bitcoin derivatives could no longer be traded. He noted that such a scenario is unlikely until 2065 and, even then, would be considered only in the event of a prolonged 40-year market downturn.
In another interview earlier this month, Le stated that if there is a sustained 3-year down cycle in Bitcoin in which the mNAV of MSTR trades below 1x, MicroStrategy may have to sell BTC. This means the earliest the company could sell a portion of its massive holdings is in 2029.
Moving on, the CNBC interview touched on Strategy’s role in public capital markets and whether the company has become a proxy for BTC. Le explained that their Bitcoin treasury strategy, which began in 2020, was designed to give investors access to BTC through public equities. He noted that while the introduction of Spot Bitcoin ETFs in 2024 slightly changed the landscape, Strategy remains a significant part of the crypto and BTC ecosystem.
Growing FUD And Long-Term BTC Growth
In the interview, Le revealed that Strategy had recently raised $1.44 billion in just over a week for its US dollar reserve, covering 21 months of dividends. The CEO explained that they raised substantial capital to address rising Fear, Uncertainty, and Doubt (FUD) about the company’s ability to meet dividend obligations.
Le stressed that, despite the current market downturn, the company had no plans to sell its Bitcoin stash to cover dividends, reassuring investors that its long-term holding strategy remains intact. He supported his views with a historical review of BTC’s broader performance, emphasizing that the leading cryptocurrency has grown by an average of 45% per year over the past five years.
When asked about his price outlook for Bitcoin, the Strategy CEO expressed confidence in the cryptocurrency’s future, predicting that BTC will likely continue to rise over the next 20 years. He acknowledged that after 20 years, the market could evolve and innovations might emerge, but for now, Bitcoin has a long runway.
A fresh update from a crypto expert has emerged regarding XRP and Ripple’s next trajectory, sparking a debate in the community. In recent years, this update has turned out to be one of the most accurate in determining the future of the leading altcoin, reinforcing the significance of the update.
New Research Outlines XRP’s Direction
In a post on the X platform shared by Stern Drew, a crypto expert, Digital Asset Solutions (DAS) Research has delivered what many XRP watchers have been waiting for and finding difficult to determine. The Research seems to have offered insights and provided a clear data-driven signal that breaks through months of conjecture and market noise.
According to the expert, DAS Research just presented the most convincing evidence so far of where XRP is headed. While their analysis offers a clear view of the future direction, it shows that the altcoin and Ripple, an American-based payment firm, are no longer competing in crypto.
Ripple and XRP are shifting into a global payment infrastructure, one that is used by banks, Fintechs, and cross-border networks that seek speed, scale, and settlement transparency. Looking at the Research, there are 3 core realities that are likely to shape the next trajectory of the asset and the payment firm.
The first scenario is that XRP boosts the structural advantage, which includes fast settlement, low cost, neutral bridge asset, globally distributed ledger, and institutional-grade reliability. Drew stated that this is the reason adoption is growing in the midst of enterprises that seek predictable value transfer, and not speculation.
Secondly, the Research highlights the transformation of stablecoins, as these coins are becoming strategic assets, not competitive ones. Instead of opposing them, Ripple is absorbing stablecoins, which are becoming a key part of the crypto and financial landscape.
Ripple’s integration of stablecoins is evidenced by its RLUSD, a dollar-pegged token acting as the fiat anchor. Meanwhile, XRP serves as the liquidity and bridge asset that ties everything together. In the current landscape, this connection is precisely how scaled settlement ecosystems develop.
Catalysts To Drive The Next Future
With key updates and achievements of Ripple, the Research noted that the catalysts to spur the next phase are already forming. Some of these catalysts include RippleNet’s partnership expansion, RLUSD corridors opening, and institutional custody maturing. Even Exchange-Traded Fund (ETF) structures are entering the conversation.
Each of these catalysts raises the likelihood that regulated financial plumbing will incorporate XRP. Meanwhile, direct bank-level chain utilization is the only sector that is currently lagging behind. However, this is exactly what worldwide licensing pushes, ZK-enabled identity layers, Ripple Prime, and RLUSD are meant to open.
Drew believes that DAS is creating awareness of what investors are unable to see. Behind the scenes, XRP is cementing its position as infrastructure, not a trade, and the competition is not other tokens, but the existing payment system, which is starting to shift.
Ethereum founder Vitalik Buterin has issued a sharp public warning to Elon Musk over how X is being used to direct increasingly aggressive rhetoric at Europe, arguing that the platform is drifting from a free-speech ideal toward orchestrated hostility.
Ethereum Founder Calls Out Elon Musk
In a series of posts on X, Buterin said that “the attacks on Europe I’ve seen here the last couple of days, including from people I’ve generally considered interesting and sophisticated, have been getting unhinged.”
He acknowledged that the European Union has serious shortcomings, listing “GDPR clickthroughs are dumb, Chat Control is awful, they need to be less bureaucratic and supportive toward entrepreneurs,” and criticizing what he called Europe’s selective moral stance, noting that its “kindness toward Ukraine often doesn’t extend well to Gaza or Sudan or other places.” He also described “people saying mean things about criminals getting longer sentences than the criminals” as “just crazy.”
Despite that, the Ethereum founder argued that the way some users on X are talking about Europe has moved well beyond legitimate criticism. He described “the apocalyptic attitude about the issues, evoking imagery of barbarians pillaging Rome etc,” as “really over the top” and said it “feels more like a coordinated attempt to delegitimize than constructive criticism.”
He rejected the idea that the real target is only Brussels-based institutions, writing: “I don’t believe the line that ‘the target is not Europe, it’s the EU’: I’ve seen many instances of London specifically being targeted in the hate session, so no, much of it is an attack on Europe.” This, he argued, does not match his experience from “spending an average of two months every year there for the last decade.”
The central confrontation came in a direct reply to Musk. Addressing the X owner’s self-positioning as a defender of free speech, the Ethereum founder wrote: “I think you should consider that making X a global totem pole for Free Speech, and then turning it into a death star laser for coordinated hate sessions, is actually harmful for the cause of free speech. I’m seriously worried that huge backlashes against values I hold dear are coming in a few years’ time.”
Buterin Hints At Russian Involvement
The thread sparked pushback from some users who argued that his framing underplays European complicity in current conflicts. One critic responded that “’not extending kindness’ is an incredible way to frame funding, arming and politically backing a genocide,” and claimed that it is “hilarious to think the US doesn’t suffer from many of the same things or worse that Americans say about the EU.”
The Ethereum founder replied that Europe is “a genuinely mixed bag,” emphasizing that “different countries in Europe have very different policies,” and pointing out that the continent “also hosts ICC, which is under a lot of pressure (see: judges being financially deplatformed).”
Other replies widened the lens to geopolitics. Commenting on a suggestion that the current discourse looks like “a coordinated campaign due to the Kremlin liking the new US ‘going back to Monroe’ global security policy,” Buterin answered “yeah basically” and added that “a lot of powerful people really like the vision that the world should just be 5–20 adults who have their spheres and sometimes get together in a room to hash out any differences, and everyone else can be shut out because they are annoying and inconvenient.”
At the same time, Buterin restated his support for the European project as an institutional experiment. “I have a lot of respect for the idea of EU, as an experiment in trying to get the benefits of a superstate, without the homogenization, becoming an aggressive ‘great power’, and other downsides,” he wrote, while stressing that “the experiment does need to be adjusted in a lot of ways; eg. we see not enough unity in its external policy and too much unity on top-down bureaucracy and surveillance at the same time.” If improved, he argued, “it’s a model that could set a really good example for the world.”
On the technical side, the Ethereum founder used the debate over “gdpr clickthroughs” to propose a different approach to online control, calling for “more sophisticated user-side software (browsers, local LLMs…) that helps the user navigate the internet and make intelligent decisions about what requires confirmations from the user.” In contrast to the centralized dynamics he criticizes on X, he is effectively pointing back to user-empowering, decentralized tools as the way to reconcile regulation, usability and free expression.
Musk Vs. The European Union
Notably, Musk’s anti-EU outburst comes after the Commission has issued a fine of €120 million to X for breaching its transparency obligations under the Digital Services Act (DSA). Musk wrote via X that “The ‘EU’ imposed this crazy fine not just on @X, but also on me personally, which is even more insane!” and says it would be “appropriate to apply our response not just to the EU, but also to the individuals who took this action against me.”
In subsequent posts he escalated further, declaring that “The EU should be abolished and sovereignty returned to individual countries,” calling to “Dissolve the EU and return power to the people,” and even asserting that “The EU commissars are responsible for the murder of Europe.”
Crypto pundit JackTheRippler recently drew the community’s attention to Ripple CEO Brad Garlinghouse’s appearance at the Senate Banking Committee hearing. The CEO spoke about XRP amid his talk on how his company is building the “internet of value.”
Ripple CEO Talks About XRP During Banking Committee Appearance
In an X post, JackTheRippler shared a video of the Ripple CEO at the Banking Committee hearing, where he spoke about Ripple and XRP. Garlinghouse stated that they were building the internet of value, where money moves as easily as information. He added that their payment services were made possible through the use of the XRP Ledger (XRPL) and its native token XRP.
The Ripple CEO further noted that XRP is built to enable fast, low-cost, and highly scalable transactions, which makes it suitable as the bridge currency for their cross-border payment services. Garlinghouse made these comments in relation to his testimony on the need for “smart” crypto regulations, including market-structure legislation, to eliminate regulatory uncertainty and advance innovation in the U.S.
The CEO mentioned that his company was among the notable victims of the previous SEC administration’s regulation-by-enforcement approach. The commission had sued the crypto firm, arguing that XRP was a security and that the firm had violated securities laws through institutional sales of the token.
However, as the CEO noted, Judge Torres ruled that XRP was not a security in itself. Garlinghouse believes that the crypto market structure legislation will help the crypto industry progress while also protecting consumers, like XRP holders, who were affected by the SEC vs. Ripple lawsuit. XRP’s price was affected by uncertainty about its legal status at the time of the lawsuit, which spanned over four years.
DAS Research Provides Bull Case For XRP
In an X post, market expert Stern Drew highlighted a report from DAS Research, which provided a bull case for XRP. Drew highlighted how the report stated that XRP and Ripple are no longer competing in crypto. Instead, they are evolving into a global payment infrastructure, which will be adopted by banks, fintechs, and cross-border networks that demand speed, scale, and settlement certainty.
Drew further pointed out three core realities highlighted by the report. The first is that XRP is said to have the structural advantage with fast settlement, low cost, being a neutral bridge asset on a globally distributed ledger, and with institutional-grade reliability.
The expert noted that this is why adoption is rising among enterprises that need predictable value transfer. The other two realities are Ripple’s integration of the RLUSD stablecoin and its institutional partnerships, which will help boost XRP’s utility.
At the time of writing, the XRP price is trading at around $2.08, up in the last 24 hours, according to data from CoinMarketCap.
Many major companies continue to lock in on Ethereum, the second-largest digital asset, despite the ongoing volatile action of the altcoin’s price. One of the methods currently adopted by these companies to grow their ETH portfolios is via Ethereum Staking, where they earn notable rewards.
SharpLink Scores Another Major Ethereum Staking
In the ever-evolving world of cryptocurrency, the Ethereum staking economy is still demonstrating its durability. As the staking economy gains traction, SharpLink Gaming, a leading public company, is once again at the center of this wave, with massive rewards from its ETH staking positions.
Being the first publicly traded company to adopt ETH as its primary treasury reserve asset, SharpLink continues to increase its exposure to Ethereum, as evidenced by its staking gains. A recent post on the X platform by the company reveals another round of significant staking rewards in the past week.
This development showcases the power of ETH’s proof-of-stake network in general as well as the company’s increasing yield performance. Furthermore, the most recent gains are bolstering confidence in long-term staking plans, which comes at a time when investors are keeping a closer eye on on-chain returns than ever.
As seen in the latest report, SharpLink scooped in over 446 ETH from staking rewards just last week. It was worth noting that since the company launched its ETH treasury in June 2025, they has experienced a persistent rise in their cumulative staking rewards.
Following the recent gains, the total cumulative rewards have reached 8,776 ETH, which seems to have ignited a frenzy in the community. The firm’s ETH holdings remain 100% staked in an institutional-grade manner and maintain compounding value for the treasury.
Mlik Road, a crypto enthusiast, highlighted that at current prices and holdings, SharpLinks’ latest staking reward in one week is valued at $1.38 million. Interestingly, this amounts to around $70 million in income for the gaming firm annually.
As rewards keep rolling in, the important part of this development is that this figure is only expected to continue growing. When the price of ETH rises, the staking revenue of SharpLink will increase. In addition, when the firm’s ETH holdings increase, its staking income will multiply.
Whales Are Adding More ETH To Their Wallets
Ethereum’s bounce appears to have shifted the sentiment of investors, especially large investors or whales, toward a bullish standpoint. According to Santiment, a leading market intelligence and on-chain data analytics platform, ETH was a notable gainer on Tuesday, with a rise of +8.5% and an optimistic accumulation trend from whales and sharks.
While these big investors have resumed ETH accumulation, retail holders have been offloading their holdings at a fast rate. Data shared by Santiment shows a massive accumulation of 949,240 ETH worth $3.15 billion in the past 3 weeks by whales. Meanwhile, small retail investors have gone on a selling spree, dumping 1,041 ETH over the past week.
Торговая активность вокруг Dogecoin в этом цикле все заметнее смещается от крупных институциональных продуктов к более спекулятивным и «игровым» форматам. Падение объемов в биржевом фонде на Dogecoin показывает: интерес розницы к пассивному экспозиционному инструменту уходит, тогда как тяга к риску никуда не делась.
Для многих трейдеров Dogecoin давно превратился из мема в «голубую фишку» среди шуточных токенов, но именно это со временем убивает адреналин. Если ETF показывает минимальные объемы с момента запуска, значит, трейдерам становится скучно просто держать DOGE через традиционный фонд. Им нужен драйв, плечо и комьюнити, где рост ощущается физически.
Одновременно рынок мем‑токенов продолжает кипеть: появляются новые персонажи, трейдинговые сообщества, формируются собственные субкультуры. Там, где институциональный продукт дает лишь хранилище стоимости, розница ищет идентичность, игру и возможность «выжать максимум» из каждого движения рынка. Это особенно заметно по всплескам активности на платформах с деривативами и соревнованиями по доходности, а также по подборкам топ‑мем‑токенов на профильных ресурсах.
Именно на этом пересечении — усталость от «официального» Dogecoin и жажда экстремального риска — появляется Maxi Doge ($MAXI). Проект предлагает не просто мем, а культ пампа, совмещая образ пса‑качка с культурой предельного плеча и соревновательными механиками для розничных трейдеров.
Почему мем‑токены и трейдинговые комьюнити смещают фокус с Dogecoin
Снижающиеся объемы ETF на Dogecoin показывают, что классическая модель «купил и забыл» перестает быть центром внимания розницы. В условиях бычьего рынка трейдеры все чаще выбирают активы с возможностью многократного роста и активного участия, а не скучный биржевой продукт.
В сегменте мем‑токенов усиливается конкуренция: рядом с Dogecoin и Shiba Inu выстраивается целая линейка новых монет с агрессивным маркетингом, игровыми механиками и собственными культами силы. Здесь важны не только котировки, но и вовлеченность в чаты, таблицы лидеров, турниры и совместные акции с площадками деривативов.
На этом фоне возникает спрос на проекты, которые напрямую заточены под розничного инвестора с «макси‑менталитетом»: стремление к высокой доходности, готовность к риску и желание соревноваться. Maxi Doge выступает одним из таких вариантов, соединяя мем, культуру экстремального трейдинга и инструменты для геймификации доходности, не подменяя это скучной институциональной игрой.
Maxi Doge как ответ на усталость от пассивного Dogecoin
Трейдеры розничного сегмента часто не обладают ни капиталом, ни уверенностью крупных игроков, но стремятся к сопоставимым результатам. Maxi Doge строит на этом целую философию: пес-качок символизирует 1000‑кратное плечо, где каждый участник сообщества соревнуется, а не просто наблюдает за графиком.
Ключевая идея — «Leverage King Culture»: токен и бренд передают энергию предельного плеча и постоянного соревнования среди трейдеров. Закрытые соревнования для держателей с таблицами лидеров по доходности, распределением призов и партнерскими событиями с площадками деривативов превращают владение $MAXI в постоянную игру на результат, а не пассивное хранение.
Токен работает на сети Ethereum с управлением предложения и распределения через смарт‑контракт. Создан казначейский Maxi Fund, который поддерживает ликвидность и финансирует партнерства. Уже на этапе предварительной продажи собрано $4,3 млн при цене около 0,0002725 доллара за $MAXI, что сигнализирует о заметном интересе к концепции мем‑токена с трейдинговым уклоном.
Дополнительный слой — механика стейкинга с динамической доходностью: ежедневное автоматическое распределение наград смарт‑контрактом из специально выделенного пула в 5% на протяжении до одного года. В совокупности с мем‑маркетингом и подчеркнутой целью обойти по динамике даже оригинальный DOGE, это позиционирует $MAXI как инструмент для тех, кто не хочет мириться с вялой статистикой ETF.
At Bitcoin MENA 2025 in Abu Dhabi, Michael Saylor used his keynote to deliver a clear message: major US banks have quietly pivoted from excluding Bitcoin to actively building products on top of it – and they are now coming directly to him.
“In the past six months I have noted and been approached by BNY Mellon, by Wells Fargo, by Bank of America, by Charles Schwab, by JP Morgan, by Citi,” the Strategy (MSTR) executive chairman said. “They are all starting to issue credit against either Bitcoin or against Bitcoin derivatives like IBIT.”
JUST IN: Michael Saylor says he got approached by all the major banks recently to launch #Bitcoin products and services.
Saylor contrasted that with the situation a year earlier, when “all of the large banks in the United States” still refused to bank Bitcoin. Now, he said, the sector is moving toward custody and credit. “Wells Fargo and Citi have both public announced intent to allow the custody of Bitcoin within the banks and in the year 2026 they’ll start to extend credit,” he told the audience.
Saylor framed this as the institutional expression of a broader policy shift in Washington, which he described as treating BTC as “digital gold” and, more broadly, “digital capital.” He claimed there is now “a profound consensus amongst everyone running the United States” – from the president and vice president to the Treasury, SEC and other top officials – that Bitcoin is a strategic digital asset.
“The United States is the most influential financial regulator in the world,” he said. “Whatever the US banking system does and the US security market does ripples through South America […] Europe […] the Middle East […] even Hong Kong. Even the Chinese will copy what the US is doing.”
Against that backdrop, Saylor positioned Strategy as “the world’s first digital treasury company,” whose business model is to industrialize BTC-backed credit. He reported that the company now holds 660,624 BTC, including 10,600 BTC acquired “yesterday,” and is currently buying “in the range of $500 million to a billion a week” in Bitcoin. “We’re not stopping,” he said. “I think that we can buy more Bitcoin than the sellers can sell. And we’re going to take it all. And we’re going to take it out of circulation.”
The core of his argument is the conversion of volatile “digital capital” into more stable “digital credit.” Strategy over-collateralizes its credit instruments “five-to-one or ten-to-one,” aiming to protect principal even if BTC falls 90%. In return, it targets yields around 8–12.5% in its preferred and note structures, funded by BTC’s expected long-term appreciation.
Saylor presented MSTR equity as “amplified Bitcoin” because issuing credit and reinvesting in BTC can, in his model, double BTC-per-share roughly every seven years. For investors who “don’t trust anybody,” he argued, holding BTC directly remains rational; for those wanting yield and lower volatility, he pitched BTC-backed credit as the superior choice.
He then extended the logic further, outlining a path from digital credit to “digital money.” By constructing a fund that is mostly composed of short-duration BTC-backed credit (such as his “Stretch” structure), buffered with fiat instruments and cash, Saylor claimed one can create a $1 instrument with near-zero volatility and an estimated yield around 8%, distributed as tax-deferred dividends. “I could create what looks like a stablecoin […] a $1 stablecoin stable to six significant digits that pays you 8% yield tax-deferred but powered by Bitcoin,” he said, adding that banks, asset managers or crypto firms could wrap this into coins, funds or deposit-like accounts.
The speech ended as a direct appeal to sovereign wealth funds and regulators in the region. Saylor urged nations that “want to be the Switzerland of the 21st century” to let banks custody Bitcoin, extend BTC-backed credit and ultimately offer digital-money accounts that pay several hundred basis points above the risk-free rate. “If you give people money that’s better than every other bank on Earth, all of the capital in the world will flow into that country, that bank,” he said.
Following its launch in 2023, Shibarium, a Layer-2 blockchain network for the Shiba Inu ecosystem, was widely seen as a major catalyst that could propel SHIB to new levels and potentially lift its price. However, over the past few months, activity and adoption on Shibarium have remained disappointingly quiet. Now, with the potential advancement and growing interest in the new ShibOS platform, momentum for a comeback could be building. Adding to this possible shift, SHIB whales have noticeably returned, with on-chain activity beginning to climb.
Shibarium Revival Could Take Shape With The Adoption Of ShibOS
For most of the year, Shibarium has struggled to gain meaningful traction, unable to revive and return to the level of activity investors once expected. As the number of active users decreased, developers were slow to build on it, and the price of SHIB saw little to no reaction despite its strong community backing and Shibarium’s promise of greater utility and faster transactions.
Although conditions look rather bleak, the narrative could shift as the new ShibOS platform grows and is increasingly adopted. ShibOS is a new Operating System designed to serve as the backbone of the Shiba Inu ecosystem. Rather than positioning SHIB as a simple meme-driven asset, ShibOS aims to create a functional environment where applications, utility, and identity features can thrive.
The operating system provides a framework that connects traditional businesses and Web3 developers, enabling seamless integration of blockchain features. The concept behind ShibOS places the Shiba Inu community at the center of a broader technological transformation. It introduces a structure that supports Decentralized Applications (dApps) and self-governed digital identities while offering a gateway for Web2 brands interested in experimenting with blockchain technology.
If developers and businesses begin adopting ShibOS and integrating it into their products, Shibarium could naturally benefit from the surge in activity. More applications would mean more transactions, increased users, and a healthier on-chain economy. This type of organic growth could, in turn, drive the demand for SHIB, potentially influencing its price.
Shiba Inu Whale Activity Hits Six-Month High
Shiba Inu is also showing signs of renewed activity in terms of on-chain transactions. According to fresh data and a chart shared by SanSights on Santiment, SHIB whale activity has surged to its highest level since early June 2025. Over the last day or so, multiple accounts have reportedly made 406 transactions, each moving more than $100,000 in SHIB.
At the same time, crypto exchanges have seen a net increase of 1.06 trillion SHIB, valued at roughly $15 million to $20 million—all deposited within 24 hours. This sudden increase in supply comes as prices surge unexpectedly this week, highlighting a rare convergence of bullish factors.
Typically, when whale activity, large deposits, and price movements happen at the same time, it can signal upcoming big changes. It could either be that whales are accumulating for a stronger price rally or preparing to sell into the current momentum.
Spot XRP ETFs first debuted in the United States back in 2025, and since then, it has been a story of success. The very first, the XRPC by Canary Capital, opened the floodgates, and since then, multiple XRP ETFs have been approved by the US Securities and Exchange Commission (SEC), all to great success. As a result, Ripple CEO Brad Garlinghouse has taken time out to celebrate these approvals and the immense success that the ETFs have enjoyed since launch.
Ripple CEO Celebrates XRP ETFs’ Success
Earlier this week, it was reported that the XRP ETFs currently trading in the market have crossed $1 billion in Assets Under Management (AUM). While this is not out of the ordinary, with others such as Bitcoin and Ethereum Spot ETFs sitting at billions of dollars in AUM, the difference that XRP made is how fast it reached this target.
Garlinghouse took to the X (formerly Twitter) platform to share that XRP was the fastest cryptocurrency ETF to hit the $1 billion milestone. The anticipation and rapid buy-in from institutional investors saw inflows ramp up quickly, and in less than four weeks, crossing the $1 billion mark. Furthermore, this $1 billion milestone was in the United States alone, suggesting much higher figures from other regions.
This milestone prompted the crypto founder to elaborate on why this is, giving a number of reasons. The first is the fact that the market looks ready for more crypto-related products. The speed with which XRP ETFs crossed this milestone is evidence of rising demand, and with over 40 crypto products launched this year, Garlinghouse explains that this shows there has been “pent-up demand.”
In addition to the demand, there is also the rising demand for there to be more long-lasting investment options in the crypto market. The advent of ‘pump-and-dumps’ has done significant damage to crypto’s reputation. However, these “off-chain crypto holders”, who buy into these crypto products, are moving more toward “longevity, stability, and community.”
Quickly Become An Investor Favorite
Following the launch of the XRP ETFs, institutional interest has quickly blown up. According to the CoinShares Digital Asset Fund Flows Weekly Report, institutional investments in the altcoin managed to surpass that of Ethereum over the last week, putting it behind only Bitcoin.
As the report shows, net flows for XRP came out to 244.7 million, compared to only $39.1 million for Ethereum. This has brought up its AUM to $3.112 billion as of the latest report, showing a rapid increase in investment. Year-to-date inflows have also risen drastically, up to $3.1 billion from the $608 million recorded back in 2024.
Currently, there are a total of nine XRP ETFs trading in the open market. Additionally, there are still nine pending applications that are expected to be approved.
Cardano founder Charles Hoskinson has declared Midnight officially launched, describing it as the “first fourth generation cryptocurrency” and claiming it has already become “a billion dollar ecosystem heading to a $10 billion ecosystem.”
In a December 9 livestream from Colorado, recorded after he was forced to cancel an appearance at Abu Dhabi Finance Week due to severe food poisoning and a jet malfunction, Hoskinson framed the launch as both a technical milestone and an ideological statement about how cryptocurrencies should be built and distributed.
Cardano Founder Touts Midnight’s Fair Launch
Despite saying he had “not eaten in two days” and was “a little faded,” the Cardano founder focused on the scale and duration of the effort behind Midnight. “We worked on it for six years,” he said, noting “many false starts” and several technology changes before the team converged on “a roadmap and a technology stack that we feel is going to be the tech stack of the future.” Midnight’s rollout, he stressed, is structured in four phases, with the project now “in the very first phase” of that plan.
The next stage, according to the Cardan founder, will significantly expand Midnight’s capabilities. Over the coming months, the team intends to bring up a federated mainnet and an incentivized testnet, then activate “hybrid DApps with each ecosystem.”
He said “the next nine months is going to be a lot of fun” but also “a lot of work for all of us,” pointing to features such as “true hybrid applications, true multi-resource consensus, [and] true post-quantum folding schemes” that aim to “advance the state-of-the-art of all of the zero knowledge stacks.” The overarching goal, he argued, is “creating a natural easy way for people [to] get their privacy back.”
Privacy and chain-agnostic interoperability are at the core of how Hoskinson positioned Midnight. He said users are “starting to realize and starting to wake up that their privacy is not a guarantee and it’s not a given,” and criticized existing systems as “designed from the ground up to take your privacy from you.”
Midnight, by contrast, is framed as infrastructure that can be used by “every single blockchain in the space.” “What makes Midnight so special is the fact that Midnight is for everyone,” he said. “It has equal application to Solana users and Avalanche users and Ethereum users and Binance users and Cardano users and Bitcoin users and everyone else in between.”
The Cardano repeatedly emphasized distribution and launch mechanics as a deliberate rejection of the venture-driven model that dominates much of the industry. He highlighted that Midnight was brought to market “in a completely decentralized way” with “no ICO, no insiders, no VC participation.”
The outcome, in his view, is that “every single user enjoys the fact that it had a fair launch and a fair distribution and every single person was on equal footing through the Glacier Drop, the Scavenger Hunt, and now the exchange distributions.”
On that basis, he argued that “it’s still possible in 2025 to launch a cryptocurrency the way Satoshi did it” and “still possible to build something with vision and values where we can do better and not hand the world over to centralized actors, the finance of old.”
Hoskinson Warns Of Regulatory Overreach
He also used the Midnight launch to issue a broader warning about regulation and the direction of the industry if privacy-preserving infrastructure is not defended. “Right now the laws are being written. They’re written the wrong way,” he said. “If the rulemaking is done the wrong way, every single thing that makes cryptocurrency special will be taken from us.”
Hoskinson rejected a future where “only custodial wallets” exist, “every single person has to be KYC and AML,” and “only five or 10 protocols are pre-selected” and “armchair controlled by a small cabal of international bankers.” Instead, he said, “I want to live in a world where the protocols preserve and protect your rights as a human, your agency as a human, your economic identity as a human.”
Hoskinson described Midnight as “probably the fastest growing and most vocal project we’ve ever built,” pointing to “hundreds of ambassadors” coming online and a rapidly filling Discord, which he framed as a gathering point for those who believe in “freedom of association, commerce, and expression.”
He ended with a direct call to action: “I want you to join the Discord. I want you to become an ambassador and tell each and every person that we can do better. And I want you to build on Midnight.” Whatever network developers come from, he said, “just build something and show the world that you can do interesting and cool things,” adding that for him and his team, “we’re in it for life.”
On Tuesday, Bitwise announced the launch of the Bitwise 10 Crypto Index ETF (BITW) on the New York Stock Exchange (NYSE), allowing investors to gain exposure to a diverse range of cryptocurrencies in a single investment vehicle.
This ETF includes ten digital assets: Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), Chainlink (LINK), Litecoin (LTC), Cardano (ADA), Avalanche (AVAX), Sui (SUI), and Polkadot (DOT).
Notably, BITW marks the first exchange-traded fund by a major crypto asset manager to incorporate Avalanche, Sui, and Polkadot into its portfolio, as highlighted by Bitwise CEO and co-founder Hunter Horsley in a recent interview with CNBC.
Bitwise ETF Launches With Over $1 Billion In Assets
“This development significantly broadens the audience that can access these various assets, particularly for those digital currencies that lack a spot ETF,” Horsley explained on Monday.
The fund is tailored for both financial advisors and smaller investors looking to utilize funds from individual retirement accounts (IRAs) or other retirement savings, where ETFs serve as the main investment option.
BITW represents a conversion from a prior index fund that encompassed the same digital currencies and has launched with over $1 billion in assets.
The approval of Bitcoin and Ethereum ETFs back in January 2024 has led asset managers to compete for the chance to introduce ETFs that track a broader range of digital assets, including altcoins like Sui and Aptos, as well as memecoins such as TRUMP and Dogecoin (DOGE).
However, these investment vehicles experienced major withdrawals in October and November, particularly for Bitcoin- and Ethereum-focused ETFs. These withdrawals reached record levels amid a broader sense of caution due to falling crypto prices.
“The timing is ideal for many investors who have been paying attention since the Bitcoin ETF launch and are now looking for a more comprehensive way to allocate to digital assets without the need to select individual assets,” Horsley noted.
BITW Allocates 90% To Major Cryptos
It’s important to emphasize that while BITW offers exposure to smaller cryptocurrencies in terms of market capitalization, its allocation to these assets is proportionately limited.
Specifically, the ETF dedicates 90% of its holdings to Bitcoin, Ethereum, Solana, and XRP, with the remaining 10% allocated to the other tokens in the fund.
The fund will undergo monthly rebalancing, a more frequent schedule compared to many exchange-traded funds in the market that typically rebalance quarterly or semi-annually.
Bitwise further expressed its commitment to expanding access to cryptocurrency opportunities, stating in a social media post:
At Bitwise, we’ve been working tirelessly since 2017 to expand access to the opportunities in crypto. Countless investors have requested an index ETP, and we’re thrilled that NOW, with BITW’s listing on NYSE, you have that option. We believe 2025 is a breakout year for this space, and we are more optimistic than ever about the opportunities ahead.
As of this writing, Ethereum is the best-performing asset in Bitwise’s new fund. It is trading at $3,323 and has recorded gains of up to 6% in the past 24 hours as it approaches key resistance levels.
Featured image from DALL-E, chart from TradingView.com
Swapper Finance has launched Direct Deposits in collaboration with Chainlink and Mastercard, aiming to bring global payments directly into the on-chain economy to more than 3.5 billion users worldwide.
Swapper Finance Launches Direct Deposits With Chainlink, Mastercard
On Tuesday, Swapper Finance, a next-generation payments infrastructure layer that connects global users to on-chain applications, announced the launch of Direct Deposits in collaboration with Chainlink, Mastercard, and multiple key partners.
Direct Deposits, which are live now, are set to bring “the global payments world directly into the on-chain economy through a unified, secure, and compliant flow,” powered by Chainlink Runtime Environment (CRE) and Mastercard’s recognized global network.
According to the announcement, users will be able to deposit into Decentralized Finance (DeFi) protocols using payment cards, crypto transfers, or Web3 wallets inside a single, end-to-end on-chain workflow for the first time.
Swapper’s Direct Deposits aim to unlock instant access to DeFi for billions of people worldwide by eliminating traditional bottlenecks, exchanges, and multi-step onboarding. This has historically required stitching together isolated systems, including Know Your Client (KYC) requirements, compliance, card payments, fiat conversion, settlement, and liquidity routing, which has created friction, high drop-off rates, and inconsistent security across the process.
Direct Deposits are set to replace this old-fashioned flow through one “unified, verifiable, on-chain orchestration layer,” with every component of the process executed inside a secure on-chain environment.
Roman Tirone, Senior Manager, Chainlink Build at Chainlink Labs, affirmed that “by unifying identity, compliance, token swaps, settlement, and more in a single orchestration layer, CRE is enabling the onboarding of billions of cardholders into the onchain economy.”
This creates a simple and familiar checkout experience that quickly moves a user from traditional finance to on-chain, supported by institutional-grade security and global reach. Meanwhile, the launch represents another step in Mastercard’s efforts to integrate traditional payment infrastructure with blockchain-based applications, helping it expand its digital asset strategy.
‘The Onboarding Layer For Web3’
Swapper’s launch will see multiple leading Web3 platforms integrate the Direct Deposits technology directly into their user flows, including Pi Squared, Stake.link, KyberSwap, AITECH, NPC, Teneo, BigWater, Rhuna, TrebleSwap, MyStandard, Landwolf, Dolomite, HyperSwap, Turbo, APU, and Radiant Capital, among others.
This signals strong demand for a unified card-to-on-chain standard, the announcement added, which suggests that Direct Deposits “are quickly becoming a foundational component for user acquisition across Web3.”
The launch also represents “deep technical collaboration across Mastercard, Chainlink, Swapper Finance, and key partners” to bring together payment authorization, compliance, execution, and liquidity routing in a single verifiable workflow powered by CRE and Swapper Finance.
Arthur, CTO of Swapper Finance, affirmed that “this is the onboarding layer we always believed the industry needed,” adding that Direct Deposits represent a “turning point” for how people enter the space as “the first truly unified onboarding layer for Web3.”
“Our goal has always been to remove the barriers that keep billions of people from accessing DeFi, and with this launch, that future becomes real,” Arthur stated, concluding that “Direct Deposits represent a turning point for how people enter Web3. For the first time, the process feels intuitive rather than intimidating. We expect this launch to dramatically expand the number of users who can participate in onchain markets.”
Canada’s tax authority has told investigators that roughly 40% of people using crypto platforms are at risk of not paying the right amount of tax.
Reports have disclosed the figure as part of a wider push by the Canada Revenue Agency to bring crypto activity into the tax system.
The move has already led to audits, court orders for data, and recovered funds, but criminal charges remain rare.
Audit Findings And Numbers
According to CRA figures, about 15% of flagged crypto users failed to file returns at all. Based on reports, another roughly 30% of those who did file are deemed high risk for under-reporting or other compliance gaps.
The agency’s specialist unit — reported to be around 35 auditors — has handled more than 230 audit files tied to crypto activity.
Canada’s crypto tax crackdown reaps millions. So why no criminal charges? https://t.co/iyRyZzC3rn
Reports say the work has led to recovered tax payments that total over C$100 million, though some outlets put the recovered amount closer to C$72 million depending on which cases are counted.
Dapper Labs And Data Orders
One of the court actions targeted users of a platform run by Dapper Labs. The CRA obtained a court order seeking records for about 2,500 users, a slice of roughly 18,000 accounts that were originally on the agency’s radar.
The orders, and others like them, signal a shift: the CRA is increasingly asking judges to force platforms to hand over user data rather than relying only on audit notices.
This is because crypto records can be fragmented, cross-border, and hard to trace without platform cooperation.
Why Criminal Charges Are Limited
Based on reports and legal commentary, the CRA has won civil recoveries but has not seen criminal prosecutions in these crypto cases since 2020.
That gap highlights practical and legal hurdles. Tax fraud cases that go criminal require proof beyond a reasonable doubt that a person willfully evaded tax.
Many crypto cases involve messy transaction histories, unclear intent, or legal questions about how certain tokens should be taxed, and those factors can slow or block criminal referrals.
What It Means For Users And Platforms
For investors, collectors, and traders in Canada, the signal is clear: records matter. Reports note that other Canadian enforcement bodies, including financial intelligence units, are increasing checks on crypto firms and foreign exchanges that touch Canadian customers.
Platforms and users who kept poor records or who relied on assumed anonymity now face higher odds of being identified during audits or court orders.
Featured image from Unsplash, chart from TradingView
Bitwise CIO Matt Hougan says the crypto market is anchored to the wrong mental model. Speaking on the Empire podcast recorded 5 December and released on 8 December, he argued that the traditional “four-year Bitcoin cycle” has lost its explanatory power – and that 2026, which many expect to be a brutal post-halving down year, is far more likely to be an “up year” driven by institutional flows and regulatory tailwinds.
“2026 will not be a bad year, Jason,” Hougan told host Jason Yanowitz. “I think 2026 will be a good year […] I just don’t understand the logical reason why [the four-year cycle] would repeat again. It’s not like built into a mechanical clock. It was driven by specific factors and those factors no longer exist, so it won’t keep happening.”
He acknowledged that recent price action has unnerved investors, with Bitcoin giving back a “Vanguard pump” and selling off into a weekend on no obvious news. But he framed that as positioning and microstructure, not the start of a structural unwind.
“People in crypto over the last two months have learned to be nervous on weekends,” he said, pointing to thin weekend liquidity and Friday macro headlines. He noted that sentiment is depressed even though “the market is flat for the year,” adding: “We’re freaking out about a market that is flat for the year.”
Why The 4-Year Crypto Cycle Is Dead
Hougan broke down the four main explanations traditionally used to justify the Bitcoin cycle and argued each is now materially weaker.
First is the halving itself. “The halving cycle is just not that important,” he said. “It’s half as important as it was four years ago […] a fraction of, you know, a quarter as important as it was eight years ago, a sixteenth, etc. There’s just not that much supply being removed.” As issuance becomes a smaller fraction of total supply and ETF and derivatives flows grow, the mechanical supply shock carries less weight.
Second is the rate cycle. Prior “down years” such as 2018 and 2022 coincided with aggressive rate hikes. “Interest rates are going down,” he said. “So that thesis is just completely invalidated, right? It’s completely different.”
Third is the “blow-up” pattern – Mt. Gox, ICOs, FTX – that historically capped euphoric phases. Hougan allowed that balance-sheet stress in parts of the market is “the strongest case for the four-year cycle repeating,” but he does not expect forced liquidations on the scale of prior collapses. In his view, potential problem entities are more likely to “just not buy as much in the future” rather than being compelled sellers.
Fourth is simple randomness: three similar cycles do not make a law of nature. “Across those four, they’re all much weaker than they were in the past,” he summarised.
Why 2026 Is Poised To Be Better Than 2025
Against that, Hougan set what he sees as a once-in-a-generation shift in regulation and institutional behaviour. “You have a once-in-a-generation regulatory change from severe regulatory headwinds to strong regulatory tailwinds,” he said, and “more importantly, you have this institutional adoption narrative that’s going to overwhelm everything.”
In the last six months, he noted, major US wirehouses have “green-lit crypto exposure.” He singled out Bank of America: “They have $3.5 trillion in assets. One percent is $35 billion. Four percent is like $140 billion. That’s more than the total flows into Bitcoin ETFs so far.” He stressed it is not just one bank: “There are four wirehouses. They’re basically all on now […] the biggest advisory groups all managing many trillions of dollars.”
The catch is timing. Institutional allocations are slow and process-driven. “The average Bitwise client, I think, invests after eight meetings with us,” he said, and some of those are quarterly. That “eight-meeting” lag means the ETF era is still in its early innings; the full impact of platforms being switched on is more likely to manifest through 2026 than in a single explosive quarter.
Hougan also emphasised that advisers optimise for client retention, not absolute performance. “The one thing a financial adviser doesn’t want to do is have a meeting with their client where something is down 50% and their client fires them,” he said. That is why reduced volatility, cleaner regulation and mainstream narratives like “Bitcoin as digital gold” and “stablecoins and tokenization as new financial rails” matter so much.
On supply dynamics, he pushed back on two recurring fears: “OG whales dumping” and MicroStrategy as a forced seller. He argued that much of the apparent “selling” by long-term holders is actually upside being sold via covered calls. Whales come to Bitwise and similar firms, he said, saying: “I have a hundred million of Bitcoin […] can you write covered calls against this?” That “effectively introduces new supply into the market” without coins moving on-chain.
On MicroStrategy, he was categorical: “From a data perspective [it is] just strictly untrue that it will be forced to sell its Bitcoin.” The company has meaningful cash to service interest, no principal due until 2027, and manageable maturities relative to its Bitcoin holdings. He agreed with Jeff Dorman’s framing that MicroStrategy is no longer a major marginal buyer but also “not a forced seller.”
Too much pessimism on the timeline.
Brought on @Matt_Hougan to tell us why 2026 will be FAR better than 2025.
Tons of good nuggets in here related to institutions, financial advisors, cycles, and more.
Looking ahead, Hougan expects investors to eventually reframe the current period not as a failed bull cycle but as a behavioural transition through a key level. “We might look back at 2025 at some point and say, ‘Huh, you know what? $100,000 was like a big behavioral cliff we had to get over. Took us like a year,’” he said.
For 2026 specifically, his message is clear: the old four-year pattern “won’t keep happening,” and the combination of regulatory clarity and institutional inflows sets up what he calls an “extraordinarily strong” backdrop rather than a programmed bust.
At press time, the total crypto market cap stood at $3.06 trillion.
Featured image from YouTube, chart from TradingView.com
Bitcoin is trading at a decisive moment, holding just above the $90,000 mark after several days of tight consolidation. Despite reclaiming this key level, the market continues to struggle with upward momentum, leaving traders uncertain about the next major move. Yet beneath the surface, a key on-chain indicator has triggered fresh interest among analysts. According to top analyst Darkfost, the Hash Ribbons have just flashed a new buy signal — a development that historically aligns with strong medium-term performance for Bitcoin.
Darkfost emphasizes that this signal is not a cue to rush blindly into the market, but rather a meaningful piece of data worth highlighting. Hash Ribbon signals typically appear during periods of miner stress, when mining difficulty forces weaker miners to shut down.
These moments often precede significant accumulation phases, as selling pressure from distressed miners fades. With the exception of the unprecedented 2021 mining ban in China, every previous Hash Ribbon buy signal has produced profitable outcomes for patient investors.
Understanding The Bitcoin Hash Ribbons Signal
Darkfost explains that the Hash Ribbons indicator is built around the evolution of Bitcoin’s hashrate, comparing the 30-day and 60-day moving averages to detect periods of miner stress. When the 30-day MA of the hashrate falls below the 60-day MA, it signals that mining difficulty is rising relative to miner profitability.
In these phases, less efficient miners are often forced to scale back operations or shut down entirely, reducing the overall network hashrate.
While mining difficulty itself is influenced by several factors — including electricity costs, hardware efficiency, block rewards, and, of course, Bitcoin’s price — the key point is that miner capitulation tends to create short-term selling pressure. Miners may liquidate part of their reserves to stay afloat, often contributing to temporary weakness in the market.
However, Darkfost emphasizes that these periods of stress historically present strong mid-cycle accumulation opportunities. As weaker miners exit and difficulty adjusts downward, the market often enters a healthier phase where selling pressure subsides, and long-term participants begin to accumulate BTC at discounted prices.
Over the years, Hash Ribbon buy signals have frequently marked early stages of major recoveries, offering investors a structural, data-driven advantage even when sentiment appears uncertain.
Testing Support as Momentum Weakens
Bitcoin continues to trade just above the $90,000 level, showing signs of stabilization after several weeks of heavy downside momentum. The chart reveals that BTC has bounced off the 100-day moving average (green), which is now acting as a key dynamic support zone. This level has historically served as an important midpoint during major pullbacks, and the market’s ability to hold above it suggests that selling pressure may be easing.
However, the price remains well below the 50-day moving average (blue), which has begun to curve downward — a signal that short-term momentum still leans bearish. For a stronger recovery, Bitcoin must reclaim this moving average and convert it into support. Until then, rallies may struggle to extend meaningfully.
Volume has also compressed significantly compared to the earlier stages of the uptrend. This decline indicates hesitation from both buyers and sellers, often typical during consolidation phases following sharp corrections. The lack of aggressive selling is a constructive sign, but the absence of strong buy-side interest keeps BTC vulnerable to further swings.
If Bitcoin holds above the $90K–$88K area, it could build a base for a broader rebound. A breakdown below this region, however, would open the door to deeper retracements toward the mid-$80K range.
Featured image from ChatGPT, chart from TradingView.com
Bitcoin (BTC) is trading uncomfortably close to the $90,000 mark, as a mix of macro caution, thinning liquidity, and shifting market structure continues to weigh on price action.
What was once a retail-driven ecosystem is now increasingly shaped by institutional flows, with U.S. spot Bitcoin ETFs attracting substantial assets, while on-chain activity trends in the opposite direction. The result is a market that moves, but with participation patterns very different from those seen in earlier cycles.
Bitcoin ETF Flows Rise as Retail Activity Falls
Since the launch of U.S. spot Bitcoin ETFs in early 2024, the network has experienced a steady decline in active on-chain addresses. Analysts attribute this partly to the “convenience trade,” in which retail investors opt for exposure through traditional brokerage accounts rather than managing their own Bitcoin wallets.
BlackRock’s IBIT and similar products now capture a growing share of BTC demand, even as the blockchain itself shows a decline in grassroots participation.
Industry experts argue that this shift fundamentally changes how value circulates in the Bitcoin economy. ETF issuers, not miners or network users, are now capturing a higher share of revenue.
SwanDesk CEO Jacob King describes this as a structural pivot toward off-chain monetization, with Bitcoin functioning more as a financial instrument than a peer-to-peer asset.
BTC Price Pressure Intensifies Around Macro Events
Bitcoin’s recent price behavior reflects both macro uncertainty and intraday volatility patterns. BTC has repeatedly slipped below $90,000 despite developments that historically would support bullish sentiment, such as Strategy’s (formerly MicroStrategy) latest purchase of over 10,600 BTC.
Traders remain cautious ahead of the Federal Reserve’s policy decision, where expectations for a quarter-point rate cut are high. Yet the hesitation is evident: rallies toward $92,000 continue to meet resistance, and liquidity remains thin across spot and derivatives markets.
Consequently, analysts warn that Bitcoin must hold above a key support level near $88,000 to avoid a deeper downside.
A growing number of analysts suggest that predictable sell-offs around the U.S. market open reflect coordinated execution rather than organic selling.
Market watchers point to high-frequency firms, such as Jane Street, which hold large ETF positions, as possible contributors to these recurring patterns. While unproven, the consistency of these drops has added to trader frustration.
Meanwhile, miners face their own pressures. Hashprice has fallen to near-record lows, prompting operators to pivot toward AI infrastructure as mining profitability erodes.
With ETFs absorbing demand, macro signals driving sentiment, and miners restructuring their businesses, Bitcoin now sits at a pivotal moment, supported by institutional capital but missing the retail pulse that once defined its cycles.
Cover image from ChatGPT, BTCUSD chart from Tradingview
Ethereum is holding above the $3,000 level for the fourth consecutive day as the market enters a decisive week dominated by the upcoming FOMC meeting. Traders are cautiously positioning ahead of the Federal Reserve’s announcement, aware that liquidity signals and rate expectations could determine whether this recovery continues—or breaks down.
Despite the recent stabilization, fear remains firmly in control. Many analysts warn that if ETH loses the $3K floor, the market could face a deeper retracement, especially with volatility expected to spike around the macro event.
Amid this uncertainty, on-chain data from Lookonchain has revealed a striking development: BitcoinOG, the same whale who famously shorted the market during the violent October 10 crash, has now dramatically increased his bullish exposure to Ethereum. According to the data, he has ramped up his long position to 67,103.68 ETH, valued at approximately $209.8 million.
Whale Positioning Adds a New Layer of Volatility
According to Lookonchain, the BitcoinOG whale is now sitting on more than $4 million in unrealized profit from his massive Ethereum long. His position of 67,103.68 ETH, currently valued at over $209 million, comes with a liquidation price of $2,069.49, a level far below current market conditions but still within the realm of possibility if macro pressure intensifies.
This liquidation threshold is especially important because it reveals the whale’s risk appetite and how aggressively he’s leveraging this bet. A liquidation level near $2,070 implies confidence that Ethereum won’t revisit its deeper range lows, even as the market remains fragile ahead of the FOMC meeting. It also shows he has a significant margin buffer behind the trade, suggesting strategic positioning rather than impulsive speculation.
However, large leveraged positions can act as double-edged swords for the broader market. If price begins trending toward his liquidation zone, cascading liquidations across other longs could accelerate downside momentum. Conversely, whales with deep pockets often defend key levels to protect their positions.
ETH Higher-Timeframe Trend Remains Fragile
Ethereum’s weekly chart shows the market fighting to stabilize above the $3,000–$3,150 zone, a level that now acts as the primary support band after weeks of heavy selling. The recent bounce from the mid-$2,700s has created a short-term relief structure, but ETH still trades well below its 50-week moving average, which is beginning to curl downward—a signal that the broader trend is losing momentum.
The chart highlights a clear pattern: each rebound over the past six months has produced lower highs, reflecting persistent seller dominance whenever ETH approaches the $3,500–$3,800 region. This repeated rejection zone marks a key resistance cluster that bulls must reclaim to shift the medium-term outlook back toward bullish continuation.
Volume also remains relatively muted compared to earlier stages of the cycle, suggesting that current buying interest is hesitant. Without a surge in spot demand, rallies may continue to fade quickly.
On the positive side, ETH has reclaimed the 200-week moving average, an important long-term support that historically acts as a pivot between macro bull and bear phases. As long as this level holds, Ethereum retains structural strength.
ETH is in a neutral-to-bearish consolidation, and a decisive weekly close above $3,300 is needed to confirm regained momentum.
Featured image from ChatGPT, chart from TradingView.com
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(@JasonYanowitz) 
