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Natural gas and oil prices stall during the Christmas shutdown as geopolitical risks, falling US rigs, and key resistance levels shape the near-term outlook.

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Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Multicoin Capital has reportedly purchased 60 million Worldcoin (WLD) in an over-the-counter transaction with the project’s team, betting on the biometric identity protocol.

The acquisition comes amid a period of declining investor engagement, with WLD’s price slipping 21% over the past month.

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Multicoin Capital Doubles Down on Worldcoin Despite Price SlideFounded in 2017, Multicoin Capital is a thesis-driven firm specializing in crypto and blockchain projects. Blockchain analytics firm Lookonchain identified a large transaction involving a wallet reportedly associated with Multicoin Capital (0xf0007b56607BB268efFe4126655f077F8cf42696).

Multicoin Capital’s WLD Purchase. Source: X/LookonchainAccording to on-chain data, the address transferred 30 million USDC to the Worldcoin team one day ago. Then, Multicoin received 60 million WLD tokens, suggesting an OTC deal directly with the project rather than an open-market purchase.

The timing of the transaction is notable, as on-chain and search data point to declining interest in Worldcoin. Dune Analytics showed that the number of new active wallet addresses has fallen sharply since September.

New Worldcoin Wallets. Source: DuneThe slowdown in new participants suggests weakening retail demand, even as institutional investors continue to accumulate. Search interest has followed a similar trajectory.

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Google Trends data revealed that searches for “Worldcoin” dropped significantly after peaking at a score of 100 in September. That surge was largely driven by Upbit’s listing of WLD, which also pushed the token’s price up at the time. Since then, however, Worldcoin has erased those gains, with search interest falling to a score of 6 at press time.

Price action reflects this cooling momentum. According to BeInCrypto Markets data, WLD has lost more than 21% of its value over the past month.

At the time of writing, the token was trading at $0.49614, representing a 2.57% increase over the past 24 hours. The short-term rebound comes amid a broader market recovery, with the total crypto market capitalization rising by nearly 0.5%.

Worldcoin (WLD) Price Performance. Source: BeInCrypto MarketsBeyond its price performance, the project is also under growing regulatory pressure. In late November, Thai authorities ordered World to suspend its iris-based enrollment activities in the country and erase biometric data gathered from more than 1 million individuals.

The order followed an October enforcement action, during which officials raided one of the project’s iris-scanning sites in Thailand.

“This collaboration will enhance the effectiveness of law enforcement in prosecuting and suppressing unlicensed digital asset businesses, while protecting users from lack of legal protection and mitigating risks of scams and money laundering,” Ms. Jomkwan Kongsakul, SEC Deputy Secretary-General, noted.

These developments add to earlier challenges. In May, the project encountered regulatory setbacks in both Indonesia and Kenya.

XRP ETF net assets cross $1.25 billion milestone, but price-action mutedXRP remains in a $1.85–$1.91 range, with strong selling near $1.90 and consistent bids near $1.86, suggesting a potential decisive break ahead.Updated Dec 25, 2025, 6:46 a.m. Published Dec 25, 2025, 6:46 a.m.

XRP slipped to $1.86 as traders continued to sell into rallies, even as spot ETF demand stayed steady and total ETF-held assets climbed to $1.25 billion — a gap that suggests the market is still digesting supply at key technical levels.

News backgroundInstitutional appetite for XRP exposure continued to build through exchange-traded funds, with investors adding $8.19 million in recent sessions. That pushed total ETF-held net assets to $1.25 billion, reinforcing the idea that professional investors are building positions through regulated vehicles rather than chasing spot momentum.

STORY CONTINUES BELOW

The flow trend fits a broader pattern in institutional crypto allocation: portfolio managers increasingly prefer structured products that reduce custody and compliance friction, especially when liquidity is deep and regulatory clarity is improving. XRP’s depth across venues and the steady ETF bid has kept longer-term demand intact, even as short-term price action remains choppy.

In the wider market, bitcoin’s attempted rebound lacked follow-through during U.S. hours, leaving majors stuck in a risk-off, range-bound tape where flows matter but technical levels still dictate the day-to-day trade.

Technical analysisXRP fell from $1.88 to $1.86, staying pinned inside a $1.85–$1.91 channel as sellers repeatedly defended the $1.9060–$1.9100 resistance area. Volume rose sharply during the session’s most active window, with 75.3 million changing hands — about 76% above average — during the rejection, underscoring that this isn’t a low-liquidity drift. It’s a market meeting real offers overhead.

Price briefly pushed out of its $1.854–$1.858 consolidation pocket and tested $1.862 on a burst of activity that spiked roughly 8–9x versus typical intraday flow. But the move lacked persistence, and XRP rotated back toward $1.86 as supply returned.

The repeated defense of $1.90+ suggests sellers are still using that zone to distribute into strength. At the same time, bids near $1.86–$1.87 have shown up consistently enough to keep the market from unraveling — creating a tightening coil where the next break is likely to be decisive.

Price action summaryXRP slid from $1.8783 to $1.8604, staying locked in a $1.85–$1.91 rangeThe strongest selling response arrived near $1.9061 resistance on above-average volumeBulls held the $1.86 handle on multiple retests, limiting downside follow-throughA short-lived pop above the prior consolidation pocket failed to turn into a sustained moveWhat traders should knowTwo forces are competing, and that’s the story: ETF flows keep leaning supportive in the background, but near-term traders are still treating $1.90–$1.91 as a sell zone.

The levels are clean:

If $1.87 holds and XRP can reclaim $1.875–$1.88, the next test is the heavy supply cluster at $1.90–$1.91. A close above there would force short-covering and pull price toward $1.95–$2.00.If $1.86 fails, the market likely slides into the next demand pocket around $1.77–$1.80, where prior buyers have historically defended and where “fear” sentiment tends to peak.For now, the tape reads like consolidation with distribution overhead — but with ETF flows acting as a stabilizer that could make downside moves more grinding than free-falling unless bitcoin breaks down sharply again.

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2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.

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Bitcoin and ether ETFs see outflows ahead of Christmas, led by IBIT and ETHE

37 minutes ago

The biggest single-day exit came from BlackRock’s IBIT, which saw $91.37 million leave the fund. Grayscale’s GBTC followed with a $24.62 million outflow.

What to know:

Bitcoin and ether spot ETFs experienced significant outflows on Dec. 24, with traders reducing risk ahead of the Christmas break.BlackRock's IBIT and Grayscale's GBTC led the bitcoin ETF outflows, while Grayscale's ETHE saw the largest outflow among ether ETFs.Despite the outflows, Grayscale's Ethereum Mini Trust ETF recorded a notable inflow, highlighting varied investor strategies during low liquidity periods.Read full story

The biggest single-day exit came from BlackRock’s IBIT, which saw $91.37 million leave the fund. Grayscale’s GBTC followed with a $24.62 million outflow.Updated Dec 25, 2025, 6:57 a.m. Published Dec 25, 2025, 6:57 a.m.

Spot bitcoin and ether ETFs saw another round of outflows on Dec. 24 as traders moved into the Christmas break with reduced liquidity and a weaker appetite for risk.

SoSoValue data showed bitcoin spot ETFs posted $175 million in net outflows on Wednesday, while ether spot ETFs showed $57 million in outflows.

STORY CONTINUES BELOW

The biggest single-day exit came from BlackRock’s IBIT, which saw $91.37 million leave the fund. Grayscale’s GBTC followed with a $24.62 million outflow.

Ethereum spot ETFs also lost ground. SoSoValue reported $52.7 million in net outflows on the day.

Grayscale’s ETHE led the selling pressure with a $33.78 million outflow, bringing its cumulative historical net outflows to $5.083 billion.

The only notable offset came from Grayscale’s Ethereum Mini Trust ETF ETH$2,942.62, which recorded a $3.33 million inflow and has now reached $1.506 billion in cumulative inflows.

The pattern fits what tends to happen around major holidays. Trading volumes drop sharply, desks run lighter, and positioning becomes more defensive.

In that environment, even modest orders can have an outsized effect on ETF flows, especially when market makers widen spreads and investors prefer to sit on cash rather than carry exposure through illiquid sessions.

Outflows also do not automatically mean investors are turning bearish. Some flows reflect routine rebalancing, tax management, or rolling exposure between products.

But the direction matters because these ETFs have become a visible proxy for institutional demand. When flows turn negative for several sessions, it reinforces the idea that crypto still behaves like a risk asset that struggles when liquidity tightens.

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XRP ETF net assets cross $1.25 billion milestone, but price-action muted

47 minutes ago

XRP remains in a $1.85–$1.91 range, with strong selling near $1.90 and consistent bids near $1.86, suggesting a potential decisive break ahead.

What to know:

XRP fell to $1.86 as traders sold into rallies, despite steady demand for spot ETFs and a rise in total ETF-held assets to $1.25 billion.Institutional investors are increasingly using exchange-traded funds for XRP exposure, adding $8.19 million recently, indicating a preference for structured products.XRP remains in a $1.85–$1.91 range, with strong selling near $1.90 and consistent bids near $1.86, suggesting a potential decisive break ahead.Read full story

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Mt. Gox-linked bitcoin tied to Aleksey Bilyuchenko is continuing to filter onto exchanges, extending a slow, closely watched stream of legacy supply that on-chain analysts have been flagging since the fall.

Arkham analyst Emmett Gallic said entities related to Aleksey Bilyuchenko deposited another 1,300 BTC, about $114 million, into unknown exchanges over the past seven days. The wallets still hold roughly 4,100 BTC (around $360 million), and have sold a total of 2,300 BTC.

Gallic wrote via X on Dec. 23: “The entity related to Aleksey Bilyuchenko has deposited another 1.3K BTC ($114M) to the unknown exchanges in the past 7 days. They still hold 4.1K BTC ($360M). They have sold a total of 2.3K BTC.”

Aleksey Bilyuchenko on Arkham | Source: X @emmettgallic
Bilyuchenko has been charged by the US Department of Justice in connection with the Mt. Gox hack.

The Dec. 23 deposits build on earlier posts in which Gallic described a methodical unwind rather than a one-off dump. On Nov. 9, he said bitcoins “once belonging to BTC-E cofounder Aleksey Bilyuchenko are slowly being sold off through unknown exchanges,” citing 110 BTC deposited over two days.

That Nov. 9 note also emphasized uncertainty around who is actually controlling the funds. “Unclear if he’s still jailed in Russia or in control of these funds, but Moscow courts have seized most of his other assets,” Gallic wrote.

The repeated use of “unknown exchanges” suggests the destination clusters are not cleanly attributable to major, labeled venues in the datasets Gallic is using. For market participants, that makes the flow harder to handicap: deposits can signal intent to sell, but the execution path is less transparent than transfers into well-known exchange wallets.

In an Oct. 17 post, Gallic went further, alleging that “almost 8K BTC … related to the WEX/BTCE case are controlled by Russian authorities,” including “the 6.5K BTC that moved earlier today.” He attributed that control to a specific unit—“3rd department of the 2nd service of the CSS of the FSB”—and linked to a Russian-language investigative article.

Who Is Bilyuchenko?
In Russia, Bilyuchenko has faced a separate WEX-related criminal case that has already produced a conviction. On March 18, 2024, the Moscow City Court upheld an earlier guilty verdict against Alexey Bilyuchenko, described in local reporting as a system administrator of the WEX exchange.

Bilyuchenko was accused of embezzling 3.1 billion rubles in WEX assets; the Meshchansky District Court sentenced him in September 2023 to 3.5 years in prison and a 500,000-ruble fine, and the appeal court left that decision in place, bringing the verdict into legal force.

In the United States, the posture is different: prosecutors have unsealed charges. The case is still ongoing. In June 2023, the Department of Justice announced the unsealing of charges against Bilyuchenko and Aleksandr Verner in the Southern District of New York, accusing them of conspiring to launder approximately 647,000 bitcoin tied to the 2011 Mt. Gox hack. The SDNY indictment charges both men with conspiracy to commit money laundering, carrying a maximum potential penalty of 20 years in prison.

Separately, Bilyuchenko is charged in the Northern District of California with conspiracy to commit money laundering and operating an unlicensed money services business, tied to allegations that he worked with Alexander Vinnik and others to operate BTC-e from 2011 until it was shut down in July 2017. DOJ listed a maximum potential penalty of 25 years on those NDCA charges.

At press time, BTC traded at $87,756.

Bitcoin remains stuck between the 0.618 and 0.786 Fib, 1-week chart | Source: BTCUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com

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December 25, 2025

Bitcoin witnessed a sudden flash crash to about $24,111 on the BTC/USD1 trading pair on Binance, before quickly rebounding to $87,000 in seconds.

Per the exchange data, the move appeared isolated to USD1, the stablecoin launched by Trump family-backed World Liberty Financial.

Source: BinanceThis type of “flash wicks” occurs when liquidity thins and order books lose depth. The BTC/USDT trading pair has remained stable after resuming.

Bitcoin Flash Wicks and Quick ReversalDuring non-peak trading hours, when market makers often pull back, large buy/sell orders could sweep through multiple empty levels. This scenario creates a dramatic spike that looks like a market breakout.

Further, the instant reversal of the wick shows that no broader market move supported the spike.

“Many spot investors find themselves in a similar position to where they were before the flash crash,” Nic Puckrin, crypto analyst and co-founder of The Coin Bureau, told Cryptonews.

“This is certainly an argument against excessive leverage in a market with fluctuating liquidity in such an uncertain geopolitical climate.”

Additionally, temporary pricing issues can also trigger such dislocations. These price fluctuations are often created by faulty quotes or reactions from trading bots.

Experts often emphasize that real rallies require sustained buying pressure and rising volume. In this case, trading volume remained low, and the price quickly returned to its previous level.

BTC Price Remains Bearish – What is the Next Directional Move?Bitcoin rose 0.89% to $87,693.65 over the past 24 hours, outpacing the broader crypto market (+0.83%). The crypto is down sharply from its October peakabove $126,000. The largest digital asset is trading at $87,773 at press time, per CoinMarketCap data.

According to analysts, Bitcoin is currently consolidating within a descending “triangle pattern,” trading below the 21MA, which serves as a resistance barrier. A definitive breakout or breakdown would confirm the next directional move.

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Bitcoin experienced an unusual and dramatic price anomaly late Tuesday when the BTC/USD1 trading pair on Binance briefly displayed a plunge to $24,111 before snapping back above $87,000 within seconds, according to exchange data. The sudden move appeared as a sharp “wick” on charts and quickly drew attention across the crypto market, though it did not reflect a broader bitcoin crash.

Notably, the price dislocation was isolated to the BTC/USD1 pair and did not appear on other major bitcoin trading pairs across Binance or rival exchanges. USD1 is a relatively new stablecoin launched by World Liberty Financial, a project reportedly backed by members of the Trump family. Because the stablecoin and its associated trading pairs are still in the early stages of adoption, they tend to have thinner liquidity compared with more established pairs such as BTC/USDT or BTC/USDC.

Market participants explained that these kinds of extreme wicks are typically caused by microstructure issues rather than a fundamental shift in bitcoin’s value. In thinly traded markets, the order book can be shallow, meaning there are fewer buy orders stacked at different price levels. A single large market sell order, an automated trade, or even a liquidation routed through that specific pair can rapidly sweep available bids, forcing the price to momentarily print far below the broader market level.

Other contributing factors can include widened bid-ask spreads, temporary display or pricing issues, faulty quotes from a market maker, or trading bots reacting to abnormal data. These effects are often amplified during quieter trading hours, when fewer traders are active to absorb sudden order flow and restore price parity.

After the brief wick, the BTC/USD1 pair quickly normalized, with bitcoin trading back near prevailing market prices. Most traders view such events as isolated technical dislocations rather than signals of bitcoin’s underlying trend. However, the incident serves as a reminder of the execution risks associated with low-liquidity trading pairs, especially those involving newer stablecoins that are still building depth and market participation.

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Bitcoin and leading AI-focused cryptocurrencies surged after Nvidia announced a landmark $20 billion artificial intelligence inference technology deal with AI chip startup Groq, signaling accelerating convergence between AI innovation and the crypto market. The announcement, made on December 24, reignited investor optimism across both sectors, pushing Bitcoin close to the $88,000 level while driving strong rebounds in several AI-related tokens.

According to the official disclosure, Nvidia entered into a non-exclusive licensing agreement with Groq to scale high-performance, cost-efficient AI inference technology. The deal underscores Nvidia’s strategic push to expand global access to advanced AI infrastructure, particularly as demand for inference computing grows rapidly across industries such as cloud computing, blockchain, and decentralized AI networks.

As part of the agreement, Groq founder and CEO Jonathan Ross, president Sunny Madra, and other key Groq executives will collaborate closely with Nvidia to accelerate development and deployment of the licensed technology. Importantly, Groq will remain an independent company, with Simon Edwards assuming the role of Chief Executive Officer. GroqCloud services will also continue operating without disruption, maintaining continuity for existing users and partners.

The news had an immediate impact on crypto markets. Bitcoin climbed nearly 1% intraday, reaching a high of $87,956 before stabilizing around $87,741, rebounding from lows near $86,400. While overall trading volume remained subdued due to uncertainty surrounding a massive $23 billion Bitcoin options expiry, sentiment-driven buying helped support prices. Analysts note that U.S.-based entities are currently among the largest Bitcoin sellers, while Asian investors are increasingly buying dips, reflecting shifting global capital flows. Bitcoin ETF outflows have also influenced short-term price action.

Meanwhile, AI and blockchain-related tokens posted notable gains. Bittensor (TAO) jumped more than 6% to $224, while Chainlink (LINK) and Near Protocol (NEAR) also rebounded strongly. Smaller AI-focused tokens such as VIRTUAL and BAT surged over 4% and 11%, respectively, alongside increased demand for GRT, INJ, ICP, LPT, IP, and FET. The Nvidia-Groq deal has reinforced expectations that AI adoption will fuel growth in decentralized computing, AI crypto projects, and blockchain-based infrastructure, strengthening the long-term narrative for AI-crypto convergence.

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Bitcoin and AI coins surged today following news that Nvidia has signed a $20 billion artificial intelligence (AI) inference technology deal with Groq. The partnership is set to accelerate AI adoption and boost AI-crypto convergence.

Nvidia Enters $20 Billion Deal with AI Inference Chip Startup Groq
Nvidia signed a non-exclusive licensing agreement with Groq for its inference technology, according to an official announcement on December 24. This announcement sparked renewed optimism in the AI and crypto sectors, with Bitcoin rising towards $88K.

The $20 billion deal marks a shared goal of expanding access to high-performance, low-cost inference technology. It will boost AI adoption as it focuses on delivering cutting-edge AI inference infrastructure.

Groq’s founder and CEO Jonathan Ross, president Sunny Madra, and other members of the Groq team will join Nvidia to help advance and scale the licensed technology. Investors anticipate a new wave of technological integration and innovation.

Notably, Groq will continue to operate as an independent company. Simon Edwards will take the role of Chief Executive Officer. Also, GroqCloud will continue to operate without interruption, Ross confirmed.

Today Groq entered into a non-exclusive licensing agreement with Nvidia for Groq’s inference technology. Along with other members of the Groq team, I’ll be joining Nvidia to help integrate the licensed technology. GroqCloud will continue to operate without interruption.

Learn…

— Jonathan Ross (@JonathanRoss321) December 24, 2025

Bitcoin and AI Coins Price Jump
The major deal between tech giant Nvidia and high-performance AI inference chips startup Groq will likely accelerate AI adoption across industries, potentially boosting demand for decentralized computing and blockchain-based AI projects.

Bitcoin jumped nearly 1% to an intraday high of $87,956. The price is currently trading at $87,741 following a rebound from $86,411 lows. Trading volume remains low amid crash jitters over Friday’s $23 billion BTC options expiry.

However, experts have highlighted that the US is now the biggest seller of Bitcoin, while investors in Asia are buying the dip. Prices are driven by sentiment and capital flow, as evidenced by Bitcoin ETF outflows.

Meanwhile, top AI coins tokens such as Chainlink (LINK), Bittensor (TAO), and Near Protocol (NEAR) saw a much-needed rebound, with TAO price jumping more than 6% to $224.

VIRTUAL and BAT skyrocketed by more than 4% and 11%. Also, GRT, INJ, ICP, LPT, IP, and FET, and other AI coins witnessed massive demand from investors.

Journalist

Posted: December 25, 2025

The race for the first Avalanche spot ETF in the U.S. is entering its final technical lap.

Grayscale Investments has officially filed a second amendment to its S-1 registration statement with the SEC, refining the mechanics for converting its existing Avalanche Trust into a flagship spot ETF.

By moving to finalize “in-kind” creation and redemption models and updating its sponsor structure, Grayscale is signaling that it is no longer just “proposing” a product but is preparing for a Nasdaq debut under the ticker GAVX.

Grayscale’s updated S-1 for Avalanche ETF
This structural shift is critical as it allows authorized participants to exchange Avalance [AVAX] tokens directly for ETF shares, aiming for greater tax efficiency and tighter price tracking than cash-only models.

Additionally, the filing consolidates governance by confirming Grayscale Investments Sponsors LLC as the sole sponsor, a move that likely streamlines the Trust’s accountability in direct response to recent SEC feedback.

Yet, despite these technical advances, the issuer remains strategic with its disclosures, leaving management fees, staking costs, and potential fee waivers out of the current document.

What is Grayscale waiting for and why?
This “wait-and-see” approach to pricing comes as the fund prepares for a major transition from its current over-the-counter home under the ticker “AVAXFUN” to a premier listing on Nasdaq under the more professional “GAVX” symbol.

By focusing this update on risk disclosures and refreshed financial data, Grayscale is effectively signaling to regulators that it is ready to treat Avalanche with the same institutional rigor as its flagship Bitcoin and Ethereum products.

This comes at a time when the AVAX token at press time slipped to $12.11, a minor 0.55% dip within a 24-hour window, but this drop seems to be a general cooling across the crypto sector rather than asset-specific weakness.

Other institutions betting in for AVAX ETF
However, in this race, Grayscale is no longer alone.

Bitwise has officially joined the fray with its own S-1 filing, tapping Coinbase as custodian to expand its crypto lineup.

Meanwhile, VanEck has surged ahead with a third amendment, already disclosing a competitive 0.34% management fee and exploring staking rewards.

If approved, these ETFs would push AVAX into traditional brokerage accounts, giving it the liquidity and regulatory credibility needed for true institutional adoption.

Final Thoughts

This proposed structure could give GAVX tighter price tracking and better tax efficiency.
Grayscale appears to be watching rivals like VanEck reveal pricing before it locks in its own fee structure.

Ishika Kumari is a Crypto Analyst and Content Strategist at AMBCrypto, specializing in the analysis of cryptocurrency regulations, market trends, and the socio-political impact of blockchain technology.
Her expertise is grounded in her academic background as a graduate of Political Science from the renowned University of Delhi. This discipline has equipped her with a sophisticated framework for analyzing complex governance models, international regulatory landscapes, and the economic principles that underpin decentralized systems.
At AMBCrypto, Ishika applies this unique analytical lens to her work. She excels at breaking down intricate subjects—from the technicalities of new protocols to the nuances of global crypto legislation—into clear, accessible, and insightful content. Her primary mission is to bridge the gap between the complexity of the digital asset industry and the everyday reader, ensuring that AMBCrypto's audience is not just informed, but truly understands the forces shaping the future of finance.

Binance founder Changpeng Zhao noted that savvy Bitcoin investors tend to step in during moments of fear and uncertainty, rather than when markets are euphoric.

In his latest X post, he stated, “When bitcoin was at its ATH, have you ever thought, ‘I wish I bought bitcoins early?’ Guess what, those who bought early did not buy at ATH, they bought when there was fear, uncertainty, and doubt.”

CZ’s comments come as Bitcoin and broader crypto markets have experienced uneven sentiment in recent weeks. After lingering in “Extreme Fear” territory for an extended period, sentiment indicators began to recover, reflecting a modest shift toward caution rather than outright optimism.

The crypto community supported Zhao’s argument
Several crypto community members appear to agree with CZ’s view, with one even suggesting that the same will be said about AI tokens. X user Lawrence Lanzilli also encouraged traders to buy BTC during this holiday period, stating that crypto institutions are preparing quietly for a 2026 bullish rally. He also reiterated CZ’s words, saying that “real stacks built in doubt, not euphoria.”

Another X user also asserted that people are always looking for opportunities to generate revenue, adding that few are willing to deal with the nausea that comes with seizing the opportunity. He further commented, The price of being early isn’t just capital, it’s the stomach to click buy when the timeline is burning.”

RWAlytics, a tokenisation insights provider based in Australia, also pointed out that most traders prefer the early, lower prices—not the fear that comes with them. Speaking in a similar vein to CZ, he stressed that conviction is born under FUD, not at record highs. In addition, another argued that the holiday lull at present will stack against 2018’s winter downturn, a quiet bear stage, which later laid the groundwork for the next big cycle.

As of December 24, the cryptocurrency market remained under pressure, with a 1.1% decline in total capitalization to $3.02 trillion, despite a 24-hour trading volume of $98.49 billion. However, although cryptocurrency had seen mass losses throughout the marketplace, Bitcoin’s market cap was nearly $1.73 trillion, maintaining its dominance.

Zhao had advocated for BTC traders to sell at greed and buy at maximum fear
At November’s end, Zhao had sparked another debate after he shared what he thought was the key to profiting from Bitcoin’s volatile cycles. He had claimed traders should sell when optimism and greed are at their highest, and buy when fear is most intense.

At the time, Bitcoin’s sentiment indicators were still fluctuating erratically between extremes. Then again, many other people supported the Binance founder’s opinion, advising investors to observe market conditions carefully rather than react emotionally. They also advocated that the strategy be used across all reliable cryptocurrencies to maximize returns. Normally, market optimism builds during upswings, whereas fear intensifies when prices fall.  However, some criticised the Bitcoin enthusiast for his remarks, especially since BTC was experiencing turbulence at the time.

Around the same time, Binance CEO Richard Teng had also sought to reassure BTC investors, noting that all asset classes experience cycles and volatility. He added that some risk-off behavior and deleveraging were affecting the cryptocurrency market at the time.

In another X post in September, CZ had warned that most investors panic-sell BTC because they don’t fully grasp technology, finance, or global trends.  He cautioned that relying on recommendations to buy Bitcoin won’t give investors the confidence to hold Bitcoin during turbulent periods. Thus, he urged traders to educate themselves more on technology, finance, and market trends, to gain enough confidence to resist selling during a downturn and hold onto Bitcoin for its long-term prospects.

Get up to $30,050 in trading rewards when you join Bybit today

As Christmas approaches, crypto markets are seeing thinning liquidity and reduced leverage, increasing the risk of short-term price swings. A massive year-end options expiry may drive volatility, but history suggests any holiday moves are likely to fade in January.

While selling pressure continues to counter resilient institutional demand, the stage is set for a 2026 reboot. Crypto-friendly regulations, XRP-spot ETF launches, increased XRP utility, and easing banking regulations support a bullish medium- to longer-term price outlook. However, several events would derail the constructive bias and positive price forecasts.

Below, I will explore the key drivers behind recent price trends, the medium-term (4-8 weeks) outlook, and the key technical levels traders should watch.

Active Accounts Wane as US Economic Indicators and Legislative Delays Hit Sentiment
This week, US GDP data impressed as the economy expanded by 4.3% quarter-on-quarter (QoQ) in Q3, up from 3.8% in the previous quarter. While the headline data would typically be a boon for risk assets, inflation and labor market jitters left the Fed and sentiment divided.

PCE prices increased 2.8% QoQ in Q3, up from 2.1% in the second quarter. Meanwhile, unemployment rose from 4.4% in September to 4.6% in November, its highest level since 2021. The gloomy labor market and inflation data clashed with growing concerns about a decoupling of the labor market from the economy. Analysts consider these events to be bad for crypto but good for stocks.

Data Quality Concerns and Fed Uncertainty
Companies are likely to benefit from lower staffing levels through AI adoption, with higher profits and share prices. However, alternative assets may suffer from the combination of sticky inflation and rising unemployment, given the potential AI-linked tailwinds for corporations.

The Kobeissi Letter recently commented on deteriorating US labor market conditions, stating:

“The US economy lost 983,000 full-time jobs in October and November, bringing the total down to 134.2 million, the lowest since December 2021. As a result, just 78.2% of the labor force is now employed full-time, the lowest since June 2021. This percentage has now declined 2.5 points since the June 2023 peak. In the past, such a trend has usually been seen during recessions.”

Inflation Data Reliability Clouds Fed Outlook
Typically, a deteriorating labor market and cooling inflation would support a more dovish Fed rate path, boosting demand for crypto. The annual inflation rate dropped from 3% to 2.7% in November. However, the PCE price trends for Q3 painted a different picture, suggesting a sticky inflation backdrop, which curbed bets on a March Fed rate cut.

According to the CME FedWatch Tool, the chances of a March Fed rate cut fell from 53.9% on December 17 to 48.7% on December 24.

Growing concerns over the quality of inflation and labor market data have added to the negative narrative. The Kobeissi Letter commented on recent inflation data, stating:

“CPI inflation data quality has rarely been worse. In October, a record 40% of core CPI items were estimated, with 22 percentage points coming from rents and 18 points from other commodities and services. Under normal conditions, the BLS measures CPI inflation using ~90,000 monthly price observations spanning across 200 product and service categories.

The Kobeissi Letter explained further:

“When price data is unavailable, the BLS fills the gaps with estimated values, which typically account for ~10% of all entries. Overall, 34% of all inflation components were estimated using other items or geographies. This marks the 5th consecutive reading above 30% and more than triple the average seen from 2022 to 2024. Confidence in economic data is eroding.”

Unreliable data and a divided Fed appear to have vexed XRP holders and the broader cryptomarket.

XRP Network Activity Reflects Shifting Sentiment
According to XRPScan, the number of active XRP accounts (unique senders) surged to a 2025 high of 63,233 in January before falling below 20,000. Trump’s presidential election victory, his pro-crypto policies, and SEC Chair Gensler’s step down lifted sentiment.

Meanwhile, active accounts rebounded in July, rising 19,560 on July 8 to 49,001 on July 18, coinciding with XRP’s all-time high. The US House of Representatives passed the Market Structure Bill to the Senate on July 17, triggering a 14.69% rally and delivering a new ATH.

XRPUSD – Daily Chart – 241225 – H2 2025 Market Events
Headwinds Turn to Tailwinds Looking Into 2026
However, the headwinds through H1 2025 are likely to become tailwinds for XRP in 2026, supporting the bullish medium- to longer-term price outlook. These include:

Robust demand for XRP-spot ETFs. The XRP-spot ETF market extended its net inflow streak to 26 days on Tuesday, December 23, taking total net inflows since launch to $1.13 billion.
New XRP-spot ETF launches in 2026 are likely to boost demand.
Legislative developments signal a permanent end to regulation through enforcement. A Market Structure Bill markup is expected in early January, paving the way to crypto-friendly regulation within the first quarter.
Fed Chair Powell’s successor is likely to favor lower interest rates, adding to the upbeat narrative.

Medium- and Long-Term Outlook: Constructive Bias Intact
Shifting bets on a March Fed rate cut have weighed on sentiment. Nevertheless, developing tailwinds reinforce the positive price outlook.

Considering the current market dynamics, the short-term (1-4 weeks) outlook remains cautiously bullish, with a $2 price target. The medium-term (4-8 weeks) and longer-term (8-12 weeks) outlooks remain constructive, with price targets of $2.5 and $3.0, respectively.

Downside Risks to the Constructive Bias
Several events could unravel the bullish outlooks. These include:

The Bank of Japan declares a neutral interest rate of between 1.5% and 2.5%, triggering a yen carry trade unwind.
US data and the Fed sink expectations of a March rate cut.
The MSCI delists digital asset treasury companies (DATs). Delistings would likely reduce interest in XRP as a treasury reserve asset.
US Senate stalls the Market Structure Bill.
XRP-spot ETFs report outflows.

These scenarios would likely push XRP toward $1.75, indicating a bearish trend reversal.

In summary, the short-term outlook remains cautiously bullish as fundamentals override the bearish technicals. Meanwhile, the medium- to longer-term outlooks are constructive.

Financial Analysis
Technical Outlook: EMAs Signal Caution
XRP fell 0.59% on Wednesday, December 24, following the previous day’s 1.62% loss, closing at $1.8613. The token underperformed the broader crypto market, which ended the session flat.

Wednesday’s pullback left XRP well below the 50-day and 200-day Exponential Moving Averages (EMAs), signaling a bearish bias. While technicals remain bearish, bullish fundamentals are developing, outweighing the technical structure.

Key technical levels to watch include:

Support levels: $1.75, and then $1.50.
50-day EMA resistance: $2.1034.
200-day EMA resistance: $2.3936.
Resistance levels: $2, $2.5, $3.0, and $3.66.

Looking at the daily chart, a breakout above the $2 psychological level would open the door to testing the 50-day EMA. A sustained move through the 50-day EMA would indicate a near-term bullish trend reversal, paving the way to the 200-day EMA and the $2.5 resistance level.

A break above the EMAs would support the constructive medium-term outlook and the longer-term (8-12 weeks) $3.0 price target.

An on-chain pricing model for Bitcoin suggests that the cryptocurrency is currently neither overvalued nor undervalued, trading right around its “fair value.”

Bitcoin Is Trading Near Its On-Chain Fair Value
In a new post on X, cycle analyst Root has shared an update on how Bitcoin is looking from the perspective of the On-chain Value Map. This BTC valuation model was created by Root using three on-chain metrics: Realized Cap, Liquid Supply, and Coin Days Destroyed.

First, the “Realized Cap” is a capitalization model that calculates the cryptocurrency’s total value by assuming that the value of each token in circulation is equal to the spot price at which it was last transacted on the blockchain. In simple terms, what this indicator reflects is the amount of capital that the investors as a whole used to purchase the BTC supply.

The second metric, the “Liquid Supply,” tracks the part of the BTC supply that’s held by investors who often move their coins. Basically, this is the supply that’s likely to return back into circulation, rather than being “HODL’d”

Finally, the “Coin Days Destroyed” (CDD) measures the number of coin days being reset across the network. A “coin day” is a quantity that 1 BTC accumulates after 1 day of dormancy. When a token carrying some number of coin days is transacted, its coin days counter resets back to zero, and the coin days that it was holding are said to be “destroyed.”

The CDD is useful for spotting periods where long-term holders are participating in distribution. These diamond hands hold for long spans, so they naturally accumulate a large amount of coin days, which, when destroyed, produce a spike in the CDD.

Now, here is the chart for the On-chain Value Map shared by Root, which combines the data of all these Bitcoin indicators to define a few different valuation levels:

The price of the coin has been near the fair value line in recent days | Source: @therationalroot on X
As displayed in the above graph, Bitcoin spiked above the “overvalued” level as it set its all-time high (ATH) back in October. Since then, the cryptocurrency has notably declined, with its price returning to the level corresponding to “fair value” on the model.

Thus, it would appear that, at least from the perspective of the On-chain Value Map, the asset is currently neither undervalued nor overvalued, but pretty much neutral. Given this trend, it remains to be seen which direction the coin will head from here.

BTC Price
Bitcoin has been in a phase of consolidation since its low in November, but its price hasn’t diverged much from the On-chain Value Map’s fair value during this period. Currently, it’s trading around $87,600.

The trend in the price of the coin over the last five days | Source: BTCUSDT on TradingView
Featured image from Dall-E, BitcoinStrategyPlatform.com, chart from TradingView.com

BOLTON, Ontario, Dec. 24, 2025 (GLOBE NEWSWIRE) -- Titanium Transportation Group Inc. (“Titanium” or the “Company”) (TSX:TTNM, OTCQX:TTNMF) announced that, further to a continuous disclosure review by staff of the Ontario Securities Commission (the “OSC”), the Company is providing an update regarding enhancements to its corporate presentation materials and prospective Management's Discussion and Analysis (MD&A).

Billionaires like Jensen Huang, the CEO of Nvidia, have seen their net worths skyrocket during the AI boom.

Bill Clark/CQ-Roll Call, Inc via Getty Images

2025-12-25T02:04:55.233Z

Nvidia licensed Groq's AI inference technology and hired key engineers.
Groq will continue to operate independently after the non-exclusive licensing agreement.
Silicon Valley sees more deals where top AI talent and technology are acqui-hired.

Nvidia is forging ahead with another bet on the the AI boom, agreeing to a licensing deal with AI hardware startup Groq.

Groq said Wednesday that some of its executives, including its founder and CEO, will join Nvidia as part of the deal. Groq is expected to continue operating independently following what it described as a non-exclusive licensing deal.

Groq is known for its Language Processing Unit, which is a custom chip designed for AI inference, namely, the process by which a trained AI model makes predictions or decisions. The startup was valued at about $6.9 billion as of three months ago and raised around $750 million in its latest funding round.

Jonathan Ross, Groq's founder and CEO, as well as the startup's president and other members of its team are expected to join Nvidia, the world's most valuable company with market cap north of $4.5 trillion.

A person familiar with the matter told Business Insider on Wednesday that Nvidia is not acquiring the chip startup.

Neither Nvidia nor Groq disclosed financial terms of the agreement.

Ross and Douglas Wightman were engineers at Google who started the project that became Google's first TPU chips, before leaving to found Groq. The TPUs are custom-made to accelerate large-scale machine-learning tasks designed to handle AI workloads, and are a major rival to Nvidia's GPUs.

The deal between the two companies comes as a new type of dealmaking is on the rise in Silicon Valley. Whereas traditional startups either aim to go public or be acquired, new acqui-hire deals could leave some startup employees behind, only benefiting a small percentage of staff members with desirable AI skills and the founders.

For instance, in 2024, Google agreed to pay $2.5 billion to license Character.AI's technology but only hired its two superstar cofounders and 20% of the startup's employees. In the same year, AI developers Adept and Inflection also made similar deals with Amazon and Microsoft, respectively.

More recently, Meta's acqui-hire of Scale AI became one of the biggest bets on talent after the company agreed to invest roughly $14 billion for a 49% stake and to bring its CEO, Alexandr Wang, into the fold to lead the Meta Superintelligence Labs.

These acqui-hires don't always end well. Windsurf employees were left in limbo after the AI coding startup was nearly aquired by OpenAI for $3 billion, only for the deal to fall apart and the company to be split. Google spent billions to hire Windsurf's CEO and top engineers, while the remaining hundreds of employees were acquired by another startup, Cognition.

AI

Read next

Enbridge is a Canadian midstream giant, but it comes with an interesting twist.

You need to do a deep dive on Enbridge (ENB 0.04%) if you are looking for a high-yield stock in the energy sector. A big part of that is the stock's 5.9% yield, which is more than five times the yield you'd collect from an S&P 500 stock on average. However, there's way more to like about Enbridge than just its lofty yield.

Here are three reasons you may want to consider buying Enbridge stock today.

1. Enbridge is in the safer energy space
The energy sector is renowned for its high volatility. Oil and natural gas prices are the primary drivers of volatility in the upstream sector, where these commodities are produced. Energy prices, commodity chemicals, and refined products are the issues in the downstream segment of the industry, where oil and natural gas are processed. Enbridge, however, operates in the midstream.

Image source: Getty Images.

Midstream energy assets, such as pipelines, help to move oil and natural gas, and the products into which they are turned, around the world. The upstream and the downstream need the midstream to run their businesses. The big driver of the midstream is the volume that is moved, not the price of the products being moved. Midstream companies, such as Enbridge, are toll-taker businesses that generate reliable fee income throughout the entire energy cycle.

In other words, Enbridge's business is actually rather boring. That's highlighted by the Canadian company's three-decade-long streak of annual dividend increases (in its home currency). If you are looking for a high-yield energy stock but you don't want to take on commodity risk, Enbridge's 5.9% dividend yield should be right up your alley.

2. Enbridge has a diversified business
Enbridge's portfolio is just as interesting as its business model. Oil and natural gas pipelines make up the lion's share of its earnings before interest, taxes, depreciation, and amortization (EBITDA). However, it also has substantial exposure to regulated natural gas utilities and a small exposure to renewable energy assets.

Natural gas utilities will be a core driver of growth for Enbridge. That's because the government oversight of these assets generally leads to regular capital investments to ensure reliability. Those capital investments, in a virtuous cycle, support rate increases. And all of this activity generally operates outside of Wall Street and commodity markets. This growth opportunity may not be as exciting as opportunities for large midstream projects, but it is reliable and provides a solid foundation for long-term growth.

Meanwhile, the small exposure to renewable energy assets gives the company a toehold in an increasingly important part of the global energy pie. Although it may not be hugely significant to the company's business, it sets the stage for the future. This brings up the last key point.

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3. Enbridge's goal is change
Enbridge was once almost entirely focused on moving oil, largely from Canadian oil sands. However, the world has clearly been shifting from dirtier energy sources to cleaner ones. The big transition in recent decades has been from coal to natural gas in the electricity sector. This is a big reason why Enbridge invested heavily to expand its reach in the natural gas segment of the midstream sector.

Natural gas has also been increasing in demand as a home heating choice because it is cleaner-burning than oil. That is a big part of the story in the company's move to expand in the regulated natural gas utility space. In fact, it agreed to buy three natural gas utilities in 2023, with the deals closing in 2024. Effectively, this allows Enbridge to have more natural gas exposure, but in a way that adds diversification to its typical pipeline operations.

Renewable power, meanwhile, has been an area in which Enbridge has invested for a while, but not on a large scale relative to the rest of its business. That makes sense, given that the clean energy transition is still a work in progress. However, it gives Enbridge the experience it needs to move more quickly in the future, if that is the direction that global energy demand moves.

Once again, this is a strategic decision that enables the company to meet the world's energy needs as they evolve. The takeaway for long-term dividend investors is that you can buy Enbridge today and comfortably hold it because you know management is purposely adjusting with the markets it serves.

Enbridge: Set it and forget it
While it isn't wise to buy a stock and ignore it, Enbridge's business approach comes very close to the set it and forget it ideal. Given the well-above-market dividend yield on offer, it would make a great addition to most dividend investors' portfolios. It isn't an exciting investment, but the slow and steady change from this largely fee-based and regulated business will likely keep your dividends reliably rolling in for years to come. Waiting until some future tomorrow to buy it will just mean smaller dividend checks in your pocket.

Investors may not appreciate all of the tailwinds that could drive Uber stock higher.

Uber Technologies (UBER +0.22%) has long grabbed the attention of investors. Its rideshare platform has changed the face of transportation and competes against the likes of Lyft, DoorDash, and companies like Grab Holdings overseas.

Admittedly, success as a company does not necessarily lead to stock market profits in the short run. Still, Uber is likely a stock that could benefit investors long term, and three reasons explain why.

Image source: Getty Images.

1. Market leadership
Investors might recall that the former CEO of what is now GE Aerospace, Jack Welch, recommended investing in only the No. 1 or No. 2 companies in a specific business. Fortunately, Uber passes this test in more than one business.

First is mobility. Uber was not the first rideshare company. Nonetheless, it is the most successful, serving more than 15,000 cities across 70 countries, and it does this primarily without owning its own cars. The company brings together those needing rides and contract drivers with their own cars who want to earn extra money.

Uber is also a leader in the delivery business. Indeed, the delivery service Uber Eats lags DoorDash in the U.S. However, its mobility revenue exceeds DoorDash's overall revenue, implying Uber is the global delivery leader.

Together, those two segments made up 89% of Uber's revenue in the first nine months of 2025, and the freight segment accounts for the remainder of its revenue. While this part of the company has not been as successful, it has not negated Uber's other successes.

2. The financials
Moreover, Grand View Research forecasts a compound annual growth rate (CAGR) of 14% for rideshare and a 9% CAGR for food delivery through 2030.

Uber seems to have outperformed those expectations. It generated nearly $38 billion in revenue in the first three quarters of 2025, an 18% increase compared to the same period in 2024.

Uber also controlled its expense growth during that time, and also benefited from a one-time, $4.3 billion tax benefit. That means net income for the first nine months of 2025 was $9.8 billion, far above the $3.0 billion reported in the same year-ago period. Fortunately, that still amounts to a considerable profit increase even without the tax benefit.

Amid improvements, Uber's stock rose by about 35% over the last year.

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As for its valuation, the aforementioned tax benefit helped take its price-to-earnings (P/E) ratio down to 11. Nonetheless, its forward P/E, which excludes one-time benefits, is just 13. This implies investors are not fully appreciating Uber's value or growth potential, possibly pointing to an opportunity for prospective shareholders.

3. Uber's role in autonomous driving
That potential may receive more appreciation once investors understand its growing role in autonomous driving.

The company has partnered with companies such as GM, Volkswagen, and Alphabet's Waymo in this industry. These companies likely do not have the resources to build their own rideshare platform.

To this end, they can partner with Uber to match passengers with vehicles. This allows the companies to develop and refine self-driving technologies while Uber takes care of finding business for them.

As more passengers take advantage of this service, Uber benefits from a new line of business, one that could potentially drive ever-higher revenues in the coming years.

Investing in Uber
Ultimately, Uber is in a strong position to benefit from its market leadership, growing profitability, and its future in autonomous driving.

These tailwinds have helped to boost Uber stock and may for a long time to come. Additionally, its forward P/E ratio of 13 implies that investors do not yet understand its potential as well as they should.

Assuming autonomous driving becomes a new source of revenue, and more investors realize Uber's potential, the rideshare giant's numerous tailwinds could bring shareholders outsized gains in the coming years.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of NB either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Journalist

Posted: December 25, 2025

Ethena was one of the major losers after the October market crash. The protocol’s TVL (total locked value), primarily driven by its yield-bearing stablecoin USDe, decreased by half from $14.8 billion to $7.4 billion. 

Over the same period, investors exited USDe in droves. In October alone, $5.7 billion was redeemed from the stablecoin, and this trend has continued for the past two months, totalling $8 billion.  

USDe was the most affected because the October crash’s escalated liquidation was partly driven by its temporary depegging on the Binance platform. 

USDe lags behind other stablecoins 
In fact, a closer look at the yield-bearing stablecoin markets indicated that outflows have been particularly concentrated on the USDe. 

In the past 90 days, as USDe faced massive outflows, similar products such as Sky’s sUSDS, Marple’s syrupUSDC and others attracted significant inflows. 

Source: Stable Watch

ENA’s 62% dip attracts new demand
In other words, after the crash, most investors fled Ethena’s USDe to other rival yield-offering stablecoins. The risk-off was apparent on the ENA, the native token for the Ethena protocol. 

After the liquidation cascade, ENA lost $0.5 and slumped 62% to below $0.2 in Q4. 

Source: ENA/USDT, TradingView

In fact, the trading volumes, as tracked by OBV (On-balance volume) dropped to record lows, underscoring muted interest amid bearish grip. 

But the current levels were similar to August 2024 lows and could offer a juicy discounted opportunity if the market rebounds.

Interestingly, Arthur Hayes, founder of BitMEX Exchange, dumped his ETH holdings for ‘high beta DeFi assets’, including ENA. 

According to Lookonchain data, Hayes scooped 1.22 million ENA worth $257.5K. But Hayes wasn’t alone. 

During the 62% decline, ENA’s supply outside of exchanges climbed higher, unlike the Q1 2025 dip.

This meant there was dip buying as some players took advantage of the discounted window to add more exposure to ENA.

Source: Santiment

Overall, Ethena emerged as one of the casualties of the October 10 crash, triggering $8B in USDe outflows and a 62% price decline for ENA.

While USDe was yet to front a strong recovery, ENA saw active buying during the dip. 

Final Thoughts

Ethena’s USDe bled $8 billion in outflows since the October 10 liquidation event. 
Although the bearish sentiment dragged ENA down by 62%, key players were dip-buying. 

Boundless (ZKC) spiked 30% overnight following weeks of downward pressure, trading at $0.12 with over $90 million in volume as the universal zero-knowledge compute protocol attempts to stabilize after losing over 80% from post-TGE highs.

Canton’s CC token emerged as the top gainer in the crypto market on Christmas Eve, rising more than 25% in 24 hours despite thin holiday liquidity and broadly bearish sentiment. The rally pushed CC ahead of major assets and privacy coins.

The move was not driven by retail hype or seasonal speculation. Instead, it reflected a growing institutional narrative around real-world asset (RWA) tokenization and regulatory clarity—two themes that have gained traction into year-end.

Top Gainers in the Crypto Market on Christmas Eve 2025. Source: CoinGeckoSponsored

Institutional Tokenization Fuels Canton Token RallyAt the center of the rally is Canton Network, a privacy-enabled Layer-1 blockchain designed specifically for regulated financial institutions. 

Unlike public DeFi chains, Canton allows institutions to transact on-chain while keeping sensitive data private. This is a key requirement for banks, clearing houses, and asset managers.

Canton’s utility token, CC, is used for transaction fees, network security, and validator incentives. Its value is tied less to retail activity and more to institutional usage. 

That’s why price moves are highly sensitive to infrastructure-level developments.

Momentum accelerated after DTCC (Depository Trust & Clearing Corporation) confirmed progress on tokenizing DTC-custodied US Treasury securities on the Canton Network. 

Sponsored

Minting and using U.S. Treasuries on Canton is coming in 2026, enabling tokenized USTs to be exchanged in near-real-time with stablecoins and other digital assets – all with the privacy and controls regulated markets demand.

A major unlock for global collateral mobility to… pic.twitter.com/XnvdprRq7X

— Canton Network (@CantonNetwork) December 17, 2025
The initiative follows a regulatory green light from the US SEC, which issued a non-action letter allowing DTCC to proceed with live tokenization infrastructure.

That development marked one of the clearest regulatory endorsements yet for on-chain Treasuries. 

As a result, markets began repricing Canton as core infrastructure rather than a speculative blockchain project.

Sponsored

Earlier in December, Canton also deepened its RWA stack through a partnership with RedStone, which became its primary oracle provider. 

The integration enables real-time, compliant price feeds for tokenized assets, bridging institutional markets with DeFi without compromising privacy.

Together, these developments position Canton as a settlement layer for trillions of dollars in traditional financial assets. 

Industry estimates place more than $300 billion in daily transaction volume already flowing through applications built on the network.

Canton CC Token Weekly Price Chart. Source: CoinGeckoSponsored

Importantly, the rally came during a low-liquidity holiday session. That context amplified the move but also highlighted where capital is concentrating ahead of 2026: compliant tokenization infrastructure.

While broader crypto markets remain cautious, CC’s performance underscored a growing divergence. 

I’ve come to realize $CC is useless. Also it seems to be inflationary with never ending supply.

Is what I’m hearing often in comments. Let’s clarify.@CantonNetwork has implemented something called BME (Burn-Mint-Equilibrium).

1) Equilibrium in Practice:
• Annual target:… https://t.co/kMAuMCAh7q

— Heslin Kim (@HeslinKim) December 24, 2025
Investors are increasingly differentiating between speculative tokens and protocols tied directly to regulated financial adoption.

On Christmas Eve, Canton sat firmly in the latter camp—and the market reacted accordingly.