Market Signal Briefing

The XRP price has failed to join Bitcoin and Ethereum in their weekly gains and is still trading inside the tight band it has held since mid-November.

Meanwhile, one bullish on-chain signal has reached a three-month high, which is normally a strong setup for a recovery. Yet the XRP price has barely moved. Let’s understand why.

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Dormancy Hits a 3-Month High, but Long-Term Holders Keep SellingThe story begins with spent coins. Spent coins measure how many older XRP tokens move each day, and the metric has collapsed from 186.36 million XRP on November 15 to just 16.32 million XRP now. This is a dramatic 91% drop and the lowest level in three months.

When the older supply stops moving, selling pressure falls sharply. That is why dormancy , which increases when spent coins go down, has now hit its strongest level in three months. Under normal market conditions, this shift alone would support a stronger XRP price.

XRP Dormancy Peaks: SantimentWant more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

But the XRP price has not reacted because the conviction groups are moving the other way.

HODL Waves, which track supply held by each age band, show a clear distribution from older holders across the past month. The 6–12 month cohort has dropped from 26.18% of supply to 21.65%. The 1–2 year group has fallen from 9.34% to 8.61%. Even the 2–3 year cohort has eased from 14.58% to 14.12%.

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Long-Term Holders Keep Selling: GlassnodeThese groups form the backbone of trend strength because they control the supply that rarely moves. When they reduce their share, upside attempts lose power.

This also explains why even recent whale buying, which we covered earlier, has not been enough to lift the XRP price. Whales have increased exposure, but persistent outflows from older holders are still overpowering that demand. Until long-term supply stops leaving these cohorts, dormancy alone cannot drive a breakout.

XRP Price Must Close Above $2.28 to Escape Its RangeThe chart reflects the same tug-of-war. The XRP price has been stuck between $2.28 and $1.81 since November 15 and has not produced a single daily close above $2.28. This remains the key line that must break for momentum to build. A successful move above $2.28 would open the next targets at $2.56 and $2.69, areas where XRP has reacted strongly before.

A close below $1.98, however, would weaken the current structure and increase the chance of a return to $1.81.

XRP Price Analysis: TradingViewFor now, the message is clear. Dormancy is at a three-month high as spent coins are at a three-month low, but long-term holders are still distributing. Until these conviction groups stabilize and a daily candle closes above $2.28, the XRP price will stay inside its range.

Ethereum, a leading force in the blockchain industry, recently launched its much-anticipated Fusaka upgrade. With the primary aim of enhancing transaction speed and processing capabilities, this upgrade marks a significant milestone in Ethereum’s ongoing development. The upgrade, rolled out in December 2025, is designed to maintain the network’s core principles of security and decentralization while supporting its growing user base and increasing demand for its services.

Vitalik Buterin, the co-founder of Ethereum, has expressed his enthusiasm for the Fusaka upgrade, emphasizing its potential to revolutionize the Ethereum network’s scalability. Buterin highlighted that the upgrade could potentially double the transaction throughput, which would be a game changer for the platform, especially as the cryptocurrency market continues to expand. The Ethereum network has long been at the forefront of blockchain innovation, and with Fusaka, it aims to cement its position as a leader in the field.

The Fusaka upgrade comes at a crucial time for Ethereum, as the network has been experiencing congestion issues, primarily due to the rapid increase in decentralized applications (dApps) and the rise of non-fungible tokens (NFTs). These applications place significant demands on the network, often resulting in slower transaction speeds and higher fees. By implementing Fusaka, Ethereum seeks to address these challenges, improving user experience and making the network more accessible to a broader audience.

This upgrade is particularly important in the context of recent developments in the blockchain world. Competitors like Solana and Binance Smart Chain have been gaining traction due to their faster and cheaper transaction capabilities. Ethereum’s Fusaka upgrade is a strategic move to retain its competitive edge and ensure that it remains an attractive platform for developers and users alike.

One of the key features of the Fusaka upgrade is its innovative approach to processing transactions. It introduces a new mechanism that optimizes the way transactions are grouped and validated, allowing for more transactions to be processed in a shorter time frame. This efficiency is achieved without compromising on the network’s security measures, which remain robust and effective against potential threats.

Ethereum’s commitment to decentralization is another critical aspect of the Fusaka upgrade. Unlike some competing platforms that have faced criticism for prioritizing speed over decentralization, Ethereum has managed to strike a balance. The Fusaka upgrade enhances transaction throughput while maintaining a decentralized network structure, ensuring that no single entity can control or manipulate the system.

In addition to technical improvements, the Fusaka upgrade also includes user-friendly features that aim to simplify the experience for both developers and end-users. Enhanced developer tools and interfaces make it easier for creators to build and deploy applications on the Ethereum network, while improved user interfaces facilitate smoother interactions for everyday users engaging with dApps and other services.

The successful implementation of the Fusaka upgrade could have far-reaching implications for the broader cryptocurrency market. As Ethereum improves its scalability and reduces transaction costs, it could attract more businesses and developers to its platform, potentially driving further innovation in the blockchain space. This could also lead to increased adoption of cryptocurrencies in general, as more individuals and organizations recognize the practical benefits of blockchain technology.

However, despite the promising prospects of the Fusaka upgrade, there are potential risks and challenges that Ethereum may face. The transition to the new system requires extensive testing and evaluation to ensure its stability and security. Any unforeseen vulnerabilities could undermine user trust and impact the network’s reputation. Additionally, while the upgrade is designed to enhance scalability, continuous efforts will be needed to keep up with the ever-increasing demands of the blockchain ecosystem.

Furthermore, the success of the Fusaka upgrade will depend on the Ethereum community’s acceptance and adoption of the changes. Developers, miners, and users must adapt to the new system, which may involve learning new protocols and updating existing applications. This process could take time and require significant effort from all stakeholders involved.

Historically, Ethereum has been a pioneering force in the blockchain arena, setting standards and leading innovations that others have followed. The network’s transition from a proof-of-work to a proof-of-stake consensus mechanism, known as Ethereum 2.0, is one such example of its forward-thinking approach. This shift has significantly reduced energy consumption and increased the network’s efficiency, aligning with global sustainability goals.

As Ethereum continues to evolve, the Fusaka upgrade could play a pivotal role in shaping the future of blockchain technology. By addressing key challenges and enhancing the network’s capabilities, Ethereum aims to provide a more scalable, secure, and user-friendly platform for its global community. The ongoing improvements signal Ethereum’s commitment to maintaining its leadership position and driving the digital economy forward.

In conclusion, Ethereum’s Fusaka upgrade represents a bold step towards addressing the pressing issues of scalability and efficiency within the blockchain industry. While the road ahead may present challenges, the potential benefits of this upgrade are substantial. As the cryptocurrency landscape continues to evolve, Ethereum is poised to remain a significant player, leveraging its innovative spirit to navigate the complexities of the digital age. The coming months will reveal how successfully the Fusaka upgrade can deliver on its promises, potentially setting new benchmarks for the entire blockchain sector.

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SINGAPORE, Dec. 04, 2025 (GLOBE NEWSWIRE) -- UP Fintech Holding Limited (NASDAQ: TIGR) (“UP Fintech” or the “Company”), a leading online brokerage firm focusing on global investors, today announced its unaudited financial results for the third quarter ended September 30, 2025.

Mr. Wu Tianhua, Chairman and CEO of UP Fintech stated: “The market environment remained supportive in the third quarter. Our total revenues reached US$175.2 million, representing an increase of 73.3% year over year and 26.3% quarter over quarter. Commission income, interest income and other revenue all saw impressive growth both sequentially and year over year, each setting new record highs. By prioritizing user quality and product diversification, we have sustained a high ARPU that underpins our profitability and a healthy business model. As a result, both our GAAP and non-GAAP net income delivered strong growth. Net income attributable to ordinary shareholders of UP Fintech was US$53.8 million, up 29.9% quarter over quarter and approximately three times that of the same quarter last year. Non-GAAP net income attributable to ordinary shareholders of UP Fintech reached US$57.0 million, an increase of 28.2% sequentially and 2.8 times the same period last year.

In the third quarter, we added 31,500 new customers with deposits, with Singapore and Hong Kong being the primary contributors, each accounting for roughly 40% of new funded clients. In the first three quarters of 2025, we onboarded over 132,200 new customers with deposits, and as of today, have effectively achieved our annual target of 150,000 new customers with deposits for 2025. By the end of the third quarter, our total number of customers with deposits reached 1,224,200, representing an 18.5% increase compared to the same quarter last year. Asset inflow remained robust, driven primarily by retail investors. Combined with mark-to-market gains, total account balance rose 17.3% quarter over quarter and 49.7% year over year to a record US$61.0 billion. We continued to refine our customer acquisition approach to ensure long-term user quality and are pleased to see the average net asset inflow of newly acquired funded clients reached a record high of over US$32,000 this quarter. Notably, average net asset inflow of new clients in Singapore and Hong Kong was approximately US$62,000 and US$30,000 this quarter, helping client assets in these two regions to grow roughly 20% and 60% quarter-over-quarter. Client assets in other markets also posted healthy double-digit sequential increases.

In the third quarter, we enhanced product breadth and user experience across digital assets and wealth management. In digital assets, we launched digital asset trading in New Zealand, enabling local users to trade spot cryptocurrency on our platform and rolled out macro market insights for digital assets and introduced featured market data, such as coin issuers and on-chain metrics, to help users make better-informed decisions and capture investment opportunities. In wealth management, we significantly expanded Tiger AI’s capabilities. We launched the innovative TradingFront AI function to give advisers a real-time analytical edge. TradingFront AI delivers instant insights on portfolio performance, risk exposure, and asset allocation for each client’s unique portfolio. The tool automatically surfaces market-sensitive updates, macroeconomic outlooks, and actionable recommendations, enabling advisers to respond faster to changing conditions and conduct more informed, personalized client conversations.

In our Corporate business, we underwrote 5 U.S. IPOs in the quarter, all serving as sole bookrunner, including “Yimutian Inc.” and “Linkhome”, and supported multiple digital asset companies in completing U.S. listings and financing deals, including “Bullish Inc.” and “Figure Technology Solutions”. In Hong Kong, we participated in 5 IPOs in the quarter, including “Geek Plus” and “SICC”, and acted as underwriter for “Boss Zhipin” public follow-on offering. In our ESOP business, we added 46 new clients in the third quarter, bringing the total number of ESOP clients served to 709 as of September 30, 2025.”

Financial Highlights for Third Quarter 2025

Total revenues were US$175.2 million, an increase of 73.3% year-over-year and an increase of 26.3% quarter-over-quarter.Total net revenues were US$153.2 million, an increase of 79.5% year-over-year and an increase of 26.2% quarter-over-quarter.Net income attributable to ordinary shareholders of UP Fintech was US$53.8 million compared to a net income of US$17.8 million in the same quarter of last year.Non-GAAP net income attributable to ordinary shareholders of UP Fintech was US$57.0 million, compared to a non-GAAP net income of US$20.1 million in the same quarter of last year. A reconciliation of non-GAAP financial metrics to the most comparable GAAP metrics is set forth below. Operating Highlights for Third Quarter 2025

Total account balance increased 49.7% year-over-year to US$61.0 billion.Total margin financing and securities lending balance increased 27.5% year-over-year to US$5.7 billion.Total number of customers with deposit increased 18.5% year-over-year to 1,224.2 thousand. Selected Operating Data for Third Quarter 2025

  As of and for the three months ended   September 30,  June 30,  September 30,   2024  2025  2025 In 000’s         Number of customer accounts  2,368.0   2,579.4   2,618.7 Number of customers with deposits  1,032.8   1,192.7   1,224.2 Number of options and futures contracts traded  15,261.2   22,432.3   25,636.1 In USD millions         Trading volume  162,990.0   284,038.2   209,421.4 Trading volume of stocks  41,406.3   68,184.3   73,442.7 Total account balance  40,763.6   52,056.3   61,037.7               Third Quarter 2025 Financial Results

REVENUES

Total revenues were US$175.2 million, an increase of 73.3% from US$101.1 million in the same quarter of last year.

Commissions were US$72.9 million, an increase of 76.9% from US$41.2 million in the same quarter of last year, due to an increase in trading volume.

Financing service fees were US$2.76 million, a decrease of 1.5% from US$2.80 million in the same quarter of last year, primarily due to decreased interest rates.

Interest income was US$73.2 million, an increase of 52.7% from US$48.0 million in the same quarter of last year, primarily due to the increase in margin financing and securities lending activities of our consolidated account customers.

Other revenues were US$26.3 million, an increase of 189.1% from US$9.1 million in the same quarter of last year, primarily due to the increase of our IPO distribution income and wealth management service revenue.

Interest expense was US$21.9 million, an increase of 39.8% from US$15.7 million in the same quarter of last year, primarily due to the increase in funding for margin financing and securities lending activities.

OPERATING COSTS AND EXPENSES

Total operating costs and expenses were US$89.4 million, an increase of 50.7% from US$59.3 million in the same quarter of last year.

Execution and clearing expenses were US$4.5 million, an increase of 27.3% from US$3.5 million in the same quarter of last year due to an increase in our trading volume.

Employee compensation and benefits expenses were US$47.2 million, an increase of 64.1% from US$28.8 million in the same quarter of last year, primarily due to an increase of global headcount to support our global expansion.

Occupancy, depreciation and amortization expenses were US$2.8 million, an increase of 27.6% from US$2.2 million in the same quarter of last year, due to the increase in office space and relevant leasehold improvements.

Communication and market data expenses were US$11.8 million, an increase of 21.3% from US$9.7 million in the same quarter of last year due to the increase of IT-related service fees.

Marketing and branding expenses were US$12.9 million, an increase of 56.7% from US$8.2 million in the same quarter of last year, primarily due to higher marketing spending this quarter.

General and administrative expenses were US$10.3 million, an increase of 48.6% from US$6.9 million in the same quarter of last year due to an increase in professional service fees.

NET INCOME attributable to ordinary shareholders of UP Fintech

Net income attributable to ordinary shareholders of UP Fintech was US$53.8 million, as compared to a net income of US$17.8 million in the same quarter of last year. Net income per American Depositary Share (“ADS”) – diluted was US$0.290, as compared to a net income per ADS – diluted of US$0.110 in the same quarter of last year.

Non-GAAP net income attributable to ordinary shareholders of UP Fintech, which excludes share-based compensation was US$57.0 million, as compared to a US$20.1 million in the same quarter of last year. Non-GAAP net income per ADS – diluted was US$0.307 as compared to a non-GAAP net income per ADS – diluted of US$0.124 in the same quarter of last year.

For the third quarter of 2025, the Company’s weighted average number of ADSs used in calculating non-GAAP net income per ADS – diluted was 187,968,942. As of September 30, 2025, the Company had a total of 2,667,964,212 Class A and B ordinary shares outstanding, or the equivalent of 177,864,281 ADSs.

CERTAIN OTHER FINANCIAL ITEMS

As of September 30, 2025, the Company’s cash and cash equivalents, term deposits and long-term deposits were US$580.7 million, compared to US$396.0 million as of December 31, 2024.

Conference Call Information:

UP Fintech’s management will hold an earnings conference call at 8:00 AM on December 4, 2025, U.S. Eastern Time (9:00 PM on December 4, 2025 Singapore/Hong Kong Time).

All participants wishing to attend the call must preregister online before receiving the dial-in number. Preregistration may take a few minutes to complete.

Preregistration Information:

Please note that all participants will need to pre-register for the conference call, using the link:
https://register-conf.media-server.com/register/BI3699a7be25e74cd7b11ddad5ba85161d

It will automatically lead to the registration page of “UP Fintech Holding Limited Third Quarter 2025 Earnings Conference Call”, where details for RSVP are needed.

Upon registering, all participants will be provided a confirmation email with a participant dial-in number and personal PIN to access the conference call. Please dial in 10 minutes prior to the call start time using the conference access information.

Additionally, a live and archived webcast of the conference call will be available at https://ir.itigerup.com

Use of Non-GAAP Financial Measures

In evaluating our business, we consider and use non-GAAP net loss or income attributable to ordinary shareholders of UP Fintech and non-GAAP net loss or income per ADS - diluted as supplemental measures to review and assess our operating performance. The presentation of the non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with the United States Generally Accepted Accounting Principles (“U.S. GAAP”). We define non-GAAP net loss or income attributable to ordinary shareholders of UP Fintech as net loss or income attributable to ordinary shareholders of UP Fintech excluding share-based compensation. Non-GAAP net loss or income per ADS - diluted is non-GAAP net loss or income attributable to ordinary shareholders of UP Fintech divided by the weighted average number of diluted ADSs.

We present these non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. Non-GAAP net loss or income attributable to ordinary shareholders of UP Fintech enables our management to assess our operating results without considering the impact of share-based compensation. We also believe that the use of these non-GAAP financial measures facilitates investors' assessment of our operating performance.

These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. These non-GAAP financial measures have limitations as an analytical tool. One of the key limitations of using these non-GAAP financial measures is that they do not reflect all items of income and expenses that affect our operations. Share-based compensation has been and may continue to be incurred in our business and are not reflected in the presentation of non-GAAP net loss or income attributable to ordinary shareholders of UP Fintech. Further, these non-GAAP financial measures may differ from the non-GAAP financial information used by other companies, including peer companies, and therefore their comparability may be limited.

These non-GAAP financial measures should not be considered in isolation or construed as alternatives to total operating costs and expenses, net loss or income attributable to ordinary shareholders of UP Fintech or any other measure of performance or as an indicator of our operating performance. Investors are encouraged to review these historical non-GAAP financial measures in light of the most directly comparable GAAP measures. These non-GAAP financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting the usefulness of such measures when analyzing our data comparatively. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure.

About UP Fintech Holding Limited

UP Fintech Holding Limited is a leading online brokerage firm focusing on global investors. The Company’s proprietary mobile and online trading platform enables investors to trade in equities and other financial instruments on multiple exchanges around the world. The Company offers innovative products and services as well as a superior user experience to customers through its “mobile first” strategy, which enables it to better serve and retain current customers as well as attract new ones. The Company offers customers comprehensive brokerage and value-added services, including trade order placement and execution, margin financing, IPO subscription, ESOP management, investor education, community discussion and customer support. The Company’s proprietary infrastructure and advanced technology are able to support trades across multiple currencies, multiple markets, multiple products, multiple execution venues and multiple clearinghouses.

For more information on the Company, please visit: https://ir.itigerup.com.

Safe Harbor Statement

This announcement contains forward−looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward−looking statements can be identified by terminology such as “may,” “might,” “aim,” “likely to,” “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements or expressions. Among other statements, the business outlook and quotations from management in this announcement, the Company’s strategic and operational plans and expectations regarding growth and expansion of its business lines, and the Company’s plans for future financing of its business contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20−F and 6−K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties, including the earnings conference call. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward−looking statements. Forward−looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s ability to effectively implement its growth strategies; trends and competition in global financial markets; changes in inflation and interest rate; technological advancements; changes in the Company’s revenues and certain cost or expense accounting policies and governmental policies and regulations affecting the Company’s industry and general economic conditions in China, Singapore and other countries; changes in geopolitical policies and conditions; rapid developments in the AI, virtual currency and blockchain industries. Further information regarding these and other risks is included in the Company’s filings with the SEC, including the Company’s annual report on Form 20-F filed with the SEC on April 23, 2025. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. Further information regarding these and other risks is included in the Company’s filings with the SEC.

For investor and media inquiries please contact:

Investor Relations Contact

UP Fintech Holding Limited

Email: [email protected]

UP FINTECH HOLDING LIMITED
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(All amounts in U.S. dollars (“US$”))         
As of
December 31,  
As of
September 30,   2024  2025   US$  US$ Assets:      Cash and cash equivalents  393,576,874   578,664,355 Cash-segregated for regulatory purpose  2,464,683,625   4,532,028,152 Term deposits  1,075,260   626,793 Receivables from customers (net of allowance of US$15,284,002 and US$12,917,206 as of December 31, 2024 and September 30, 2025)  1,052,972,649   1,667,671,643 Receivables from brokers, dealers, and clearing organizations  2,305,740,507   2,288,189,632 Financial instruments held, at fair value  75,547,082   107,668,575 Prepaid expenses and other current assets  17,629,819   30,883,983 Amounts due from related parties  16,720,671   16,272,700 Total current assets  6,327,946,487   9,222,005,833 Non-current assets:      Long-term deposits  1,369,994   1,404,692 Right-of-use assets  10,880,673   12,419,704 Property, equipment and intangible assets, net  15,358,528   14,480,087 Crypto assets held  —   4,827,659 Goodwill  2,492,668   2,492,668 Long-term investments  7,658,809   7,523,109 Equity method investment  10,203,622   10,520,803 Other non-current assets  6,828,553   11,299,482 Deferred tax assets  8,573,135   11,491,966 Total non-current assets  63,365,982   76,460,170 Total assets  6,391,312,469   9,298,466,003 Current liabilities:      Payables to customers  3,574,651,125   6,013,948,056 Payables to brokers, dealers and clearing organizations:  1,914,769,701   2,115,964,591 Accrued expenses and other current liabilities  67,263,254   99,977,572 Lease liabilities-current  4,153,928   6,115,972 Convertible bonds-current  —   161,498,483 Amounts due to related parties  874,331   77,720,831 Total current liabilities  5,561,712,339   8,475,225,505 Convertible bonds  159,505,397   — Lease liabilities-non-current  5,902,323   5,840,409 Deferred tax liabilities  2,068,661   1,855,844 Total liabilities  5,729,188,720   8,482,921,758 Mezzanine equity      Redeemable non-controlling interest  7,177,668   5,900,650 Total Mezzanine equity  7,177,668   5,900,650 Shareholders’ equity:      Class A ordinary shares  25,427   25,703 Class B ordinary shares  976   976 Additional paid-in capital  619,030,730   630,611,586 Statutory reserve  12,425,463   12,425,463 Retained earnings  37,843,547   166,219,993 Treasury stock  (2,172,819)  (2,172,819)Accumulated other comprehensive (loss) income  (11,919,310)  2,813,227 Total UP Fintech shareholders’ equity  655,234,014   809,924,129 Non-controlling interests  (287,933)  (280,534)Total equity  654,946,081   809,643,595 Total liabilities, mezzanine equity and equity  6,391,312,469   9,298,466,003  UP FINTECH HOLDING LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) (All amounts in U.S. dollars (“US$”), except for number of shares (or ADSs) and per share (or ADS) data)   For the three months ended  For the nine months ended   September 30,  June 30,  September 30,  September 30,  September 30,   2024  2025  2025  2024  2025   US$  US$  US$  US$  US$ Revenues:               Commissions  41,207,882   64,787,635   72,908,334   103,080,878   196,003,120 Interest related income               Financing service fees  2,803,878   2,734,573   2,762,166   8,541,141   8,057,171 Interest income  47,957,486   58,689,064   73,224,073   135,992,655   185,718,530 Other revenues  9,084,834   12,508,765   26,265,671   19,824,906   46,711,423 Total revenues  101,054,080   138,720,037   175,160,244   267,439,580   436,490,244 Interest expense  (15,700,359)  (17,338,435)  (21,942,151)  (44,072,175)  (54,322,396)Total Net revenues  85,353,721   121,381,602   153,218,093   223,367,405   382,167,848 Operating costs and expenses:               Execution and clearing  (3,518,611)  (5,398,645)  (4,477,846)  (8,556,480)  (15,215,408)Employee compensation and benefits  (28,769,980)  (35,828,599)  (47,209,787)  (85,202,427)  (116,844,194)Occupancy, depreciation and amortization  (2,162,704)  (2,729,010)  (2,759,643)  (6,416,729)  (7,637,961)Communication and market data  (9,730,680)  (10,372,284)  (11,800,637)  (27,105,567)  (31,967,790)Marketing and branding  (8,223,404)  (9,875,699)  (12,888,969)  (19,022,135)  (33,631,716)General and administrative  (6,932,672)  (6,747,182)  (10,299,692)  (32,845,937)  (22,183,220)Total operating costs and expenses  (59,338,051)  (70,951,419)  (89,436,574)  (179,149,275)  (227,480,289)Other income (expense):               Others, net  (5,189,945)  (1,361,336)  1,327,184   (169,713)  (1,374,216)Income before income tax  20,825,725   49,068,847   65,108,703   44,048,417   153,313,343 Income tax expenses  (2,907,080)  (7,499,742)  (11,148,629)  (10,921,637)  (27,197,529)Net income  17,918,645   41,569,105   53,960,074   33,126,780   126,115,814 Less: net income (loss) attributable to non-controlling interests  3,353   12,018   10,052   (17,040)  33,597 Accretion of redeemable non-controlling interests to redemption value  (160,998)  (126,481)  (132,354)  (466,157)  (414,818)Net income attributable to ordinary shareholders of UP Fintech  17,754,294   41,430,606   53,817,668   32,677,663   125,667,399 Other comprehensive (loss) income, net of tax:               Changes in cumulative foreign currency translation adjustment  16,119,046   12,021,961   (1,123,148)  8,418,198   14,725,453 Total Comprehensive income  34,037,691   53,591,066   52,836,926   41,544,978   140,841,267 Less: comprehensive (loss) income attributable to non-controlling interests  (7,023)  8,366   8,301   (21,105)  26,512 Accretion of redeemable non-controlling interests to redemption value  (160,998)  (126,481)  (132,354)  (466,157)  (414,818)Total Comprehensive income attributable to ordinary shareholders of UP Fintech  33,883,716   53,456,219   52,696,271   41,099,926   140,399,937 Net income per ordinary share:               Basic  0.008   0.016   0.020   0.014   0.047 Diluted  0.007   0.015   0.019   0.014   0.045 Net income per ADS (1 ADS represents 15 Class A ordinary shares):               Basic  0.113   0.235   0.304   0.208   0.712 Diluted  0.110   0.225   0.290   0.204   0.681 Weighted average number of ordinary shares used in calculating net income per ordinary share:               Basic  2,362,528,627   2,649,852,622   2,656,878,202   2,353,177,657   2,647,314,747 Diluted  2,467,241,917   2,781,223,175   2,819,534,135   2,460,309,649   2,788,450,052  Reconciliations of Unaudited Non-GAAP Results of Operations Measures to the Nearest Comparable GAAP Measures
(All amounts in U.S. dollars (“US$”), except for number of ADSs and per ADS data)          
For the three months ended September 30,
2024 
For the three months ended June 30,
2025 
For the three months ended September 30,
2025     non-GAAP     non-GAAP     non-GAAP     GAAP Adjustment non-GAAP GAAP Adjustment non-GAAP GAAP Adjustment non-GAAP   US$ US$ US$ US$ US$ US$ US$ US$ US$ Share-based compensation   2,331,274     3,079,636     3,230,443   Net income attributable to ordinary shareholders of UP Fintech 17,754,294 2,331,274 20,085,568 41,430,606 3,079,636 44,510,242 53,817,668 3,230,443 57,048,111                     Net income per ADS - diluted 0.110   0.124 0.225   0.241 0.290   0.307 Weighted average number of ADSs used in calculating diluted net income per ADS 164,482,794   164,482,794 185,414,878   187,069,605 187,968,942   187,968,942 

STOCKHOLM--(BUSINESS WIRE)--Klarna, the global digital bank and payments provider, today launched its AI for Climate Resilience Program, a pioneering initiative using artificial intelligence to strengthen climate adaptation and community resilience across some of the world's most affected regions. The AI for Climate Resilience Program is a global initiative by Klarna to accelerate the use of AI in tackling the local effects of climate change. It identifies and supports innovators developing pra.

Binance’s native token, BNB, is back in the spotlight as the market tries to settle after weeks of volatility. After falling sharply from its October peak, the token is now showing early signs of recovery, pushing its price above $920. 

Psyduenyme crypto analyst notes that BNB is now nearing a key 7-year resistance level, where a breakout could accelerate the move toward $1,200.

BNB Approaches 7-Year Ascending ChannelAfter last week’s 7% jump, BNB is showing continued bullish momentum. According to analyst Altcoin Pioneer, BNB’s 3-week chart has formed a clear ascending channel that has guided its price for almost 7 years.

Analysts highlight that the token is now touching this major resistance line for the sixth time, an important moment. Every time BNB reached this level in the past, it went on to make higher highs, showing strong long-term demand.

If BNB breaks above the channel with strong volume, analysts believe it could start a powerful multi-stage rally. The first target sits around $950–$1,000, based on the recent price structure. 

A stronger breakout could send it toward $1,150–$1,500 by mid-2026 using Fibonacci projections.

Technical Signs Suggest a Breakout Could Be NearTechnical indicators add support to the bullish outlook. The weekly RSI is holding near 58 and shows a bullish divergence, signaling hidden strength despite recent volatility.

The MACD has also confirmed a golden cross, while the Fear & Greed Index sits at 15, reflecting extreme fear in the market.

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Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

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US Senator Cynthia Lummis has reignited speculation that the United States could move to materially increase its Bitcoin holdings, after posting a Bitcoin-themed image on X with the caption: “₿ig things coming for Franklin!”

Lummis Revives Strategic Bitcoin Reserve Hype
The image is drawn as a children’s book cover titled “FRANKLIN BUYS BITCOIN AND FINDS FINANCIAL FREEDOM.” At the center sits Franklin, a cartoon turtle in a backwards red cap and bandana, seated at a wooden desk. In front of him is a laptop emblazoned with the orange Bitcoin logo, clearly signaling that he is using Bitcoin-related software or services—most obviously, buying or managing BTC. Franklin’s eyes project bright “laser beams” at the screen, echoing the well-known “laser eyes” meme in Bitcoin culture.

On the desk lie physical coins stamped with the Bitcoin symbol, and a glass jar filled with more of these Bitcoin coins. The jar seems to function as a visual metaphor for saving and stacking sats over time. The subtitle “and finds financial freedom” explicitly connects Bitcoin accumulation with the idea of long-term economic sovereignty.

Source: X @SenLummis
Bitcoin-focused accounts immediately interpreted the post as a policy signal rather than a simple meme. Bitcoin Magazine summarized the moment as: “JUST IN: US Senator Cynthia Lummis hints at buying Bitcoin”. Bitcoin Archive went further, claiming: “JUST IN: US Senator Cynthia Lummis hints at a potential US Bitcoin buy. Senator Lummis has recently submitted legislation to have the US government buy 1 million Bitcoin.”

That reading is consistent with Lummis’ own public rhetoric. On November 5 she wrote via X: “I truly believe the Strategic Bitcoin Reserve is the only solution to offset our national debt. I applaud @POTUS and his administration for embracing the SBR, and I look forward to getting it done.” Her legislation has pushed for a formal US Strategic Bitcoin Reserve and explicitly contemplated the government holding up to 1 million BTC over time.

The meme also lands after President Trump’s executive order from March this year establishing a Strategic Bitcoin Reserve framework. While it has become very quiet around the topic, US Treasury Secretary Scott Bessent recently attended the opening of the Bitcoin bar PubKey in Washington. For many in the market, those developments, combined with Lummis’ latest post, suggest that concrete steps toward expanding US Bitcoin reserves may be progressing quietly in the background.

So far, however, there has been no official confirmation of state-level Bitcoin purchases. For now, Franklin remains a symbolic turtle with laser eyes at a Bitcoin laptop—but in a market hyper-attuned to political signals, Lummis’ image is being read as the clearest hint yet that the United States could one day be the largest sovereign Bitcoin buyer.

At press time, Bitcoin traded at $93,381.

Bitcoin bulls face the 0.618 Fib, 1-week chart | Source: BTCUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com

TLDR:

SKR introduces a coordination layer supporting Seeker devices and Solana Mobile’s growing app ecosystem.
Guardians will verify devices and review app submissions as part of SKR’s security model.
The 10 billion SKR supply includes allocations for growth, airdrops, and community funding.
Inflation begins at 10 percent and reduces annually until stabilizing at 2 percent.

Solana Mobile is preparing to roll out SKR in January 2026, marking the start of a new on-chain coordination system for its mobile platform. The project introduces a token-driven model designed to support device security, builder incentives, and community participation. 

Solana Mobile shared the update through the Seeker account, which outlined how SKR will shape the growth of its mobile ecosystem. The announcement also confirmed the first wave of ecosystem partners joining as Guardians next year.

SKR Launch Marks New On-Chain Mobile Framework
SKR will act as the core mechanism that connects users, developers, and device-level activity. According to the Seeker account on X, holders will be able to stake to Guardians who verify device authenticity and review app submissions. 

The system aims to strengthen trust across the Seeker economy as more applications and devices enter the network. Solana Mobile said the first Guardian will be its own team before others join in 2026.

The upcoming Guardian group includes Helius Labs, DoubleZero, Triton One, Jito, and Anza. Each team will contribute to app curation and community standards during the early rollout phase. These responsibilities will help define the operational layer that connects the dApp Store and Seeker devices. 

Solana Mobile described SKR as a tool that guides growth while returning value to its user base.

The token supply will be capped at 10 billion SKR. Distribution covers airdrops, growth allocations, liquidity plans, and funding for community programs. 

Solana Mobile and Solana Labs will also receive shares to maintain the long-term roadmap. The team presented the breakdown as part of its broader coordination model.

Inflation Model Designed for Early Network Support
SKR will use a linear inflation schedule intended to reward early participation. The Seeker account said inflation will begin at 10 percent during the first year. 

The rate will then fall by 25 percent each year until it reaches a 2 percent terminal level. This design aims to support security while reducing token expansion as the ecosystem matures.

Participants who stake to Guardians will earn a share of ongoing inflation. Solana Mobile expects this framework to encourage active involvement during the early months. 

The team plans to discuss the initiative further at the upcoming Solana Breakpoint event. Community members will also receive more information on Seeker device integration and the long-term vision for SKR.

The January launch marks the start of a new phase for Solana’s mobile strategy. SKR will connect users with ecosystem partners while building a community-led review and security layer. Solana Mobile plans to scale Guardian participation throughout 2026.

LONDON--(BUSINESS WIRE)-- #AI--LabGenius Therapeutics (“LabGenius”), a drug discovery company combining machine learning (ML) and high-throughput experimentation to optimise potential therapeutic antibodies, today announced a second collaboration with Sanofi. This collaboration combines LabGenius' AI/ML-driven antibody design capabilities with Sanofi's expertise in the development of therapeutic NANOBODY® molecules to co-optimise proteins for therapeutically valuable properties. Following the success.

December 04, 2025 3:01 AM EST | Source: Makenita Resources Inc.
Vancouver, British Columbia--(Newsfile Corp. - December 4, 2025) - Makenita Resources Inc. (CSE: KENY) (OTCID: KENYF) (WKN: A40X6P) wishes to announce that it has more than doubled its landholdings on the "Sisson West Tungsten Project" in New Brunswick, Canada. The "Sisson West Tungsten Project" now consists of approximately 9,400 contiguous acres prospective for Tungsten which directly borders the Sisson Tungsten Mine in New Brunswick. On November 13,th the Sisson Tungsten Mine was just chosen by the Prime Minister of Canada, Mark Carney, as one of the first "Nation-Building Projects.1" Management cautions that past results or discoveries on properties near Makenita's may not necessarily indicate mineralization on the company's property.

Jason Gigliotti, President of Makenita Resources Inc, stated, "We are very pleased to more than double our footprint on the "Sisson West Tungsten Project" at a time when the price of tungsten is near year highs, up more than 100 percent this year according to Fastmarkets2. When you couple this massive increase in the tungsten price, with the fact that Prime Minister Mark Carney has just chosen the Sisson Tungsten Mine directly bordering us as one the first 'Nation-Building Projects," as well as the small share count of just over 30 million, management feels that Makenita is shaping up to have a very active 2026. We expect to be active on our projects in the coming weeks and management has a very strong conviction for corporate growth in 2026."

Figure 1. Sisson West Tungsten Project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11165/276909_1c05b774f49a4bda_002full.jpg

This new acreage was acquired via staking.

Qualified person for mining disclosure:

The technical contents of this release were reviewed and approved by Frank Bain, PGeo, a qualified person as defined by National Instrument 43-101.

www.pm.gc.ca/en/news/news-releases/2025/11/13/prime-minister-carney-announces-second-tranche-nation-building-projectswww.fastmarkets.com/commodity-prices/tungsten-apt-88-5-wo3-min-fob-main-ports-china-dollar-mtu-wo3-mb-w-0003/The CSE has neither approved nor disapproved of the contents of this press release.

Forward-Looking Statements

Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Makenita. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Makenita disclaims any intention or obligation to update or revise such information, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276909

December 04, 2025 3:05 AM EST | Source: Li-FT Power Ltd.
Vancouver, British Columbia--(Newsfile Corp. - December 4, 2025) - Li-FT Power Ltd. (TSXV: LIFT) (OTCQX: LIFFF) (FSE: WS0) ("LIFT" or the "Company") is pleased to announce that LIFT, the Yellowknives Dene First Nation ("YKDFN"), and Det'on Cho Environmental ("DCE") have been jointly awarded the Trailblazer Award by the Northwest Territories and Nunavut Chamber of Mines (the "Chamber") in recognition of their leadership, innovation, and commitment to creating real and lasting career-oriented opportunities for Indigenous community members in the mineral exploration and development industry in association with LIFT's Yellowknife Lithium Project.

The Chambers' Hearts of Gold awards shine a spotlight on success stories in the Northwest Territories mining sector, recognizing that the industry's success reflects the people and organizations with vision, leadership and commitment along with the territory's mineral potential. The Trailblazer award recognizes an individual, organization or organizational initiative that has blazed a path forward, turning opportunity into action.

The LIFT-YKDFN-DCE collaboration showcases an innovative model for how industry, Indigenous governments, and Indigenous-owned businesses can work together to create real socioeconomic benefits while honouring local expertise, environmental stewardship, and community priorities. Through the collaboration, LIFT has invested in hiring, training, and capacity building for northern Indigenous community members across its Yellowknife Lithium Project. These efforts have been bolstered by DCE's leadership as an Indigenous-owned corporation with a strong record of creating opportunities for Indigenous people and local businesses. YKDFN's training arm, Dechįta Nàowo, continuously works to provide relevant training opportunities for members to enable easier entry into meaningful roles, including those needed by both DCE and LIFT.

YKDFN Chief Ernest Betsina comments: "This collaboration is creating real opportunities for our people. By working together, we're opening the door to good jobs, new skills, and future business growth for Yellowknives Dene members. These investments today will help our workers and businesses lead the economic development happening on our lands tomorrow."

Mark Lewis, CEO of Det'on Cho Group of Companies, remarks: "Our success comes from investing in our people and creating opportunities that last. Through this collaboration with YKDFN and LIFT, we're building a strong northern workforce and supporting Indigenous-owned businesses that can thrive for years to come. Together, we're proving that northern-led solutions deliver meaningful results for our people and for the North."

April Hayward, CSO of LIFT, comments: "The Trailblazer Award reflects the strength of a partnership built on commitment, respect, and shared purpose, demonstrating what is possible when industry and Indigenous leadership work side by side to advance opportunities on Indigenous lands."

About LIFT

LIFT is a mineral exploration company engaged in the acquisition, exploration, and development of lithium pegmatite projects located in Canada. The Company's flagship project is the Yellowknife Lithium Project located in Northwest Territories, Canada. LIFT also holds three early-stage exploration properties in Quebec, Canada with excellent potential for the discovery of buried lithium pegmatites, as well as the Cali Project in Northwest Territories within the Little Nahanni Pegmatite Group.

Cautionary Statement Regarding Forward-Looking Information

Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release.

Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors" in the Company's latest annual information form filed on March 21, 2025, which is available under the Company's SEDAR+ profile at www.sedarplus.ca, and in other filings that the Company has made and may make with applicable securities authorities in the future. Forward-looking statements contained herein are made only as to the date of this press release and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276866

The company backed its outlook for fiscal 2026 as the U.S. accounts for almost 60% of the luxury-watch retailer's profitability.

About Jamie Ashcroft
Jamie Ashcroft, the News Editor for Proactive UK, has developed an impressive career in financial journalism, focusing on the small-cap sector for over fourteen years. Before joining the Proactive team, he was a stockbroker during the global financial crisis, a role that complemented his educational background - a first-class degree in Business and Economics and qualifications in software design and development.
As one of the early external hires at Proactive in 2009, Jamie contributed... Read more

About the publisher
Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists.

Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth.

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Bitcoin is up 1.9% over the past week and continues to climb steadily since December 1. It trades near $93,300 after a flat 24 hours, but the chart is hinting at a breakout, followed by a possible 15+% move.

Buyers have stepped back in, but not the ones that the Bitcoin price would want to sustain the rally.

Sponsored

Buyers Step In as Bitcoin Presses Toward a BreakBitcoin has traded down since mid-November, building pressure to the downside. Yet, the price has been rising since December 1 and is now pushing into a potential breakout structure. The same is confirmed by a developing inverse head-and-shoulders pattern on the 12-hour chart. That pattern usually appears near market bottoms and supports the idea of a recovery.

However, a clean 12-hour close above the neckline would be necessary for the breakout hopes to rise.

BTC Attempting Pattern Break: TradingViewWant more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here

The strongest confirmation comes from spot flows. Exchange net position change tracks whether coins move into exchanges to sell or out of exchanges to hold. On November 27, exchanges saw net inflows of 3,947 BTC, showing selling pressure. By December 3, the metric flipped to –18,721 BTC, meaning heavy outflows.

Buying Has Resumed: TradingViewSponsored

A shift of more than 22,000 BTC in favor of buyers shows that demand returned sharply during this climb.

This improvement sets the opening chapter, but the next part of the story explains why the rally still feels unstable.

Short-term holder supply has risen from 2,622,228 BTC on November 30 to 2,663,533 BTC as of December 3. Short-term holders are wallets that keep coins for only a few weeks. They buy quickly, but they also sell quickly.

Their rising supply, an increase of almost 1.6%, often looks bullish on the surface, but it means the rally hopes are being carried by the most reactive group in the market. If the Bitcoin price stalls, they are usually the first to take profits.

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Speculative Traders Enter: TradingViewLong-term holders, the group that anchors strong breakouts, have not joined in. Their net position change, shown via the HODLer net position change metric, has been negative for the fourteenth straight day. The latest reading sits at –168,611 BTC.

Long-Term BTC Holders: TradingViewUntil long-term holders turn into net buyers, any breakout remains vulnerable to quick reversals triggered by speculative money.

This imbalance explains why the Bitcoin price is pressing toward a pattern break but still lacks the depth needed for a secure rally.

Sponsored

Bitcoin Price Levels That Confirm or Spoil the MoveThe Bitcoin price sits just under the neckline at $93,200. A 12-hour close above this level confirms the inverse head-and-shoulders pattern and unlocks the next checkpoints at $96,600, $99,800, and $104,000.

If buyers push through these levels with real strength, the full extension of the pattern lands near $108,300, which marks the potential 15% move referenced earlier.

Weakness shows if Bitcoin slips below $90,400, a level where buyers stepped in during recent dips. Losing that zone invites a deeper test near $84,300, and a fall under $80,500 invalidates the entire structure.

Bitcoin Price Analysis: TradingViewFor now, Bitcoin is attempting a pattern break with improving spot flows, rising speculative demand, and cautious long-term holders. The chart has room for a 15+% extension, but clearing $93,200 with real conviction decides whether that move actually begins.

Bitcoin could extend its recent rebound after posting an 8% daily gain on Wednesday, with crypto analysts pointing to signs that a local bottom may already be in.

“The combination of extreme deleveraging, capitulation among short-term holders, and early signs of seller exhaustion has created the conditions for a stabilisation phase and a relief bounce,” Bitfinex analysts said in a report on Tuesday.

The comments came shortly before Bitcoin (BTC) rallied nearly 8% on Wednesday, briefly pushing toward $94,000. At the time of publication, Bitcoin is trading at $91,440, according to CoinMarketCap.

Bitcoin running on “leaner leverage base”Bitfinex said that the market is now operating on a “leaner leverage base,” reducing the likelihood of a sudden, liquidation-driven market drawdown.

Bitcoin is down 11.72% over the past 30 days. Source: CoinMarketCapOn Oct. 10, roughly $19 billion was wiped out of what many market participants described as an overleveraged market, triggering a broader sell-off that pushed Bitcoin and the wider crypto market into a downtrend, with Bitcoin’s price bottoming near $82,000 on Nov. 21.

“This configuration strengthens the case that the market’s remaining leverage is relatively well-contained, reducing systemic fragility and improving the prospects for a more stable consolidation phase,” he said.

The price pullback so late in the year, followed by a rebound, pushed more Bitcoin holders toward the idea that the four-year cycle is no longer relevant, which would have placed Bitcoin’s cycle price top around its October all-time highs of $125,100.

Bitcoin “is not like past cycles,” says analystIt is still unclear how Bitcoin will finish the year, given December has historically been a quieter month for Bitcoin, with an average return of just 4.69% since December 2013, according to CoinGlass. 

However, recent price action has not followed seasonal trends, with November falling 17.67% despite historically being Bitcoin’s strongest month on average, delivering returns of 41.12%.

Some still believe the move higher could extend into next year.

Bitcoin analyst PlanC said in an X post on Thursday, “This Bitcoin cycle is NOT like past cycles.”

“I have been warning you all and explaining this for well over a year now. Hopefully, you were paying attention,” PlanC said.

Meanwhile, Bitcoin analyst Quinten Francois said in an X post on the same day, “Bitcoin is closer to the bottom than to the top.”

BitMine chair Tom Lee recently said he is confident that Bitcoin can reclaim $100,000 before the end of the year.

Magazine: How Neal Stephenson ‘invented’ Bitcoin in the ‘90s: Author interview

Ripple CEO Brad Garlinghouse predicts bitcoin will reach $180,000 by the end of 2026.Updated Dec 4, 2025, 6:13 a.m. Published Dec 4, 2025, 6:11 a.m.

Ripple CEO Brad Garlinghouse made a bold bitcoin BTC$93,163.16 price prediction during a panel discussion alongside Solana Foundation President Lily Liu and Binance CEO Richard Teng at Binance Blockchain Week.

He stated that he expects BTC to reach $180,000 by the end of 2026, signaling strong optimism about the cryptocurrency’s long-term price prospects.

STORY CONTINUES BELOW

Teng did not give any price target, but said he expects prices to be higher than they are while stressing that he focuses on long-term growth, not short-term volatility.

Meanwhile, Liu said that prices are likely to be above $100,000.

Bitcoin changed hands at around $93,000 at press time, having hit a record high over $126,000 two months ago.

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Predict.fun aims to fix prediction markets’ biggest inefficiency, user funds sitting idle for weeks or months without earning yield, while tapping the large userbase of BNB Chain.

What to know:

CZ announced a new prediction market on BNB Chain, predict.fun, which allows user funds to earn yield while positions are open.Predict.fun currently has over 12,000 users and a combined market volume of around $300,000, but it lags behind larger platforms like Polymarket and Kalshi.The platform benefits from BNB Chain's large user base, though it faces challenges due to limited stablecoin issuance and liquidity.Read full story

Tony Kim
Dec 04, 2025 07:22

Bitcoin technical analysis suggests BTC could reach $98,000-$102,000 by December 31, 2025, with immediate resistance at $96,846 and critical support at $80,600.

With Bitcoin trading at $93,136 as of December 4, 2025, the cryptocurrency finds itself at a critical juncture between bullish momentum indicators and challenging resistance levels. This comprehensive BTC price prediction analyzes current market conditions and provides specific targets for the coming weeks and months.

BTC Price Prediction Summary
• BTC short-term target (1 week): $96,500-$98,000 (+3.6% to +5.2%)
• Bitcoin medium-term forecast (1 month): $98,000-$102,000 range
• Key level to break for bullish continuation: $96,846 (immediate resistance)
• Critical support if bearish: $80,600 (strong support level)

Recent Bitcoin Price Predictions from Analysts
The cryptocurrency community shows divergent views in recent Bitcoin forecast analysis. Coindcx presents the most optimistic BTC price prediction with a target of $114,500 by November 2025, citing high liquidity and institutional demand. This contrasts sharply with LongForecast's more conservative projection of $94,393, representing a potential 12.9% decline.

Polymarket's prediction market data suggests 60% probability for Bitcoin reaching $90,000-$92,000, while CoinPriceForecast targets $87,870 in the near term. The consensus reveals a split between bulls targeting $114,500-$120,000 and bears eyeing $87,870-$94,393 levels.

The wide range in these predictions reflects the current market uncertainty, though institutional demand remains a consistent bullish theme across multiple forecasts.

BTC Technical Analysis: Setting Up for Measured Bullish Move
Current Bitcoin technical analysis reveals a complex but cautiously optimistic setup. The MACD histogram shows bullish momentum at 1155.4927, indicating buying pressure is building despite the negative MACD line at -2527.91. This divergence often precedes significant moves.

Bitcoin's RSI at 48.60 sits in neutral territory, providing room for upward movement without entering overbought conditions. The Stochastic indicators (%K: 92.52, %D: 90.74) suggest Bitcoin is in overbought territory on shorter timeframes, potentially requiring consolidation before the next leg up.

The Bollinger Bands position at 0.74 indicates Bitcoin is trading in the upper portion of its recent range, with the upper band at $96,313 serving as immediate resistance. Volume analysis shows healthy participation at $2.24 billion in 24-hour trading, supporting any potential breakout attempts.

Bitcoin Price Targets: Bull and Bear Scenarios
Bullish Case for BTC
The primary BTC price target focuses on the $98,000-$102,000 range by year-end 2025. This Bitcoin forecast is supported by several technical factors:

Breaking above $96,846 resistance opens the path to test the psychological $100,000 level
The 50-day SMA at $100,240 provides natural resistance that, once broken, could flip to support
Strong institutional demand mentioned in analyst reports supports higher valuations
The $116,400 strong resistance level represents the ultimate bullish target if momentum accelerates

A successful break above current resistance could see Bitcoin challenge its 52-week high of $124,658 within the first quarter of 2026.

Bearish Risk for Bitcoin
The bearish scenario for this BTC price prediction centers on a failure to hold current support levels. Key downside targets include:

Immediate support at $80,600 represents a 13.5% decline from current levels
A break below this level could target the lower Bollinger Band at $84,046, though this seems less likely given current positioning
The most bearish scenario aligns with LongForecast's $94,393 target, representing limited downside from current levels

Risk factors include potential profit-taking near resistance levels and any deterioration in broader market sentiment or regulatory concerns.

Should You Buy BTC Now? Entry Strategy
Based on current Bitcoin technical analysis, a measured approach appears most prudent. Consider these entry strategies:

Aggressive Entry: Buy current levels ($93,000-$94,000) with a stop-loss at $89,000, targeting the $98,000-$102,000 range for a favorable risk-reward ratio of approximately 1:2.

Conservative Entry: Wait for a pullback to $90,000-$91,000 (near the 20-day EMA) before entering, with the same upside targets but improved risk management.

Breakout Play: Enter on a confirmed break above $96,846 with volume, targeting $100,000+ levels while using $94,000 as a stop-loss.

Position sizing should remain conservative given the mixed signals, with risk management paramount in current market conditions.

BTC Price Prediction Conclusion
This BTC price prediction maintains a cautiously bullish outlook with specific targets of $98,000-$102,000 by December 31, 2025. The combination of bullish MACD histogram readings, neutral RSI, and strong institutional demand supports this Bitcoin forecast with medium confidence.

Key indicators to monitor for confirmation include a decisive break above $96,846 resistance with strong volume and RSI pushing above 55. For invalidation, watch for any break below the critical $89,000 level, which would bring the bearish targets into focus.

The timeline for this prediction centers on the next 3-4 weeks, with year-end positioning likely to drive the ultimate direction. Whether you buy or sell BTC should depend on your risk tolerance and ability to weather potential 10-15% swings in either direction as Bitcoin navigates these critical technical levels.

Image source: Shutterstock

btc price analysis
btc price prediction

Dogecoin price hovered near a key level as fresh regulatory and institutional updates shape a tightening market structure ahead of a decisive breakout.

Summary

DOGE price action has compressed into a narrowing symmetrical triangle, showing a market waiting for a clear catalyst.
New ETF developments and Vanguard opening crypto ETF access briefly lifted momentum and boosted trading inflows.
Key levels now sit at $0.150–$0.145 for support and $0.165 overhead, with a breakout above the trendline targeting $0.18–$0.20.

Dogecoin was trading at $0.1507 at press time, up 0.5% in the past 24 hours. The weekly range now sits between $0.1326 and $0.1544, leaving the token down 2.6% over the last seven days and 11% across the past month.

Daily trading activity has cooled, with volumes slipping to $1.48 billion, an 8.7% drop from the previous day. Derivatives data paints the same picture.

Total Dogecoin (DOGE) futures volume slid 8.73% to $3.35 billion, and open interest dipped 0.80% to $1.48 billion. This mix normally shows a market that is taking a breather rather than entering a panic phase.

Key catalysts that could shape Dogecoin price
The recent approval wave for DOGE-related exchange-traded funds has turned the asset into a potential mainstream product. The 2x leveraged Dogecoin ETF (TXXD) from 21Shares began trading in late November, followed by Grayscale’s Dogecoin ETF (GDOG) debut on the NYSE.

Bitwise is waiting for early 2026 approval, and 21Shares filed a fresh amendment on Dec. 2 revealing the fee structure for its upcoming spot Dogecoin ETF.

Momentum picked up briefly on Dec. 1 after Vanguard opened access to crypto ETFs to more than 50 million clients, making this one of the largest traditional-finance onramps for Dogecoin. Early ETF flows show slow but steady accumulation, similar to DOGE’s August setup.

Adoption headlines outside finance also played a role. Buenos Aires approved DOGE tax payments on Nov. 29, making it the first major city to do so.

On the technical side, DogeOS introduced zero-knowledge proof support, and a GitHub proposal suggested cutting block rewards from 10,000 to 1,000 DOGE. If implemented, this would lower annual inflation to about 0.33% and give the asset a more disciplined supply profile.

Dogecoin price technical analysis
Dogecoin’s chart shows a classic symmetrical triangle, built from lower highs and higher lows that now converge into a narrow apex. The market has become less volatile, which is normal as a triangle matures. Both sides are in a standoff while waiting for a catalyst, as shown by volume continuing to drop in a steady line.

Dogecoin daily chart. Credit: crypto.news
The relative strength index has been in the low 40s to mid-50s, indicating that there isn’t much of a market tilt either way. If it climbs above 50, that would point to buyers gaining more influence. A decline toward 40 would suggest that there is more pressure to sell.

Bearish momentum appears to be diminishing, indicated by the MACD leveling out and beginning to shift slightly into positive territory. Higher lows indicate buyers are defending the trendline, while lower highs show sellers still guarding resistance.

DOGE now sits in a decisive zone. If price breaks above the descending trendline with stronger volume and RSI above 50, the market could aim for the $0.18–$0.20 zone. A breakdown below the rising trendline would expose $0.135 and raise the risk of revisiting $0.12.

Singularity Compute has launched the first phase of its enterprise-grade Nvidia GPU cluster in Sweden, a deployment that provides flexible GPU computing for enterprises, institutions, and ASI Alliance partners.

Ethereum prices have climbed steadily over the past couple of days, more so following the successful deployment of the Fusaka upgrade.

Strong accumulation from “shark wallets” holding 1,000 to 10,000 ETH has pushed the asset’s price up to $3,230, reported Santiment on Thursday. This is the highest that Ether has traded for since mid-November, almost three weeks ago.

These wallets have been “key alpha” for the asset’s price throughout 2025, Santiment added. Additionally, network growth just hit 190,000 new wallets in one day.

🦈📈 Ethereum has climbed back to $3,215 on strong accumulation from shark wallets holding 1K-10K $ETH. These wallets have been key alpha for the #2 coin’s price throughout 2025. Additionally, ETH’s network growth just hit 190K new wallets in one day.

🔗 https://t.co/QsvXwulg76 pic.twitter.com/NTR1tnvUtR

— Santiment (@santimentfeed) December 3, 2025

Ethereum Upgrade Successful
The move follows the successful deployment of the Fusaka upgrade on Wednesday.

“Fusaka went well, and L2s posting blobs without missing a beat,” said Ethereum developer Terence Tsao. “Credit to all the teams. L1 and L2s are running as one well-oiled machine that moves forward together,” he added.

Fusaka is a key step on Ethereum’s layer-1+rollup roadmap with higher L1 performance, expanded blob capacity, lower rollup costs, and UX improvements.

“Two major Ethereum upgrades this year is a huge win,” said Ryan Sean Adams from Bankless, who added, “I haven’t seen builder momentum this strong since the Merge in 2022.”

Ethereum also achieved a record daily gas usage of over 200 billion units on Dec. 3, coinciding with the Fusaka upgrade’s activation, observed Sam Altcoin.

Analyst Ted Pillows noted that the ETH/BTC ratio was trying to reclaim the 50-week exponential moving average again. “If that happens, ETH and altcoins could see upward momentum,” he said.

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Ethereum’s November Trading Frenzy: Spot Volume Hits $375B as ETFs Add $35B Punch

Meanwhile, Tom Lee is “DCAing ETH,” reported Arkham Intelligence on Thursday. It observed another $150 million BitMine purchase on Wednesday, stating “Two fresh wallets just withdrew $92 million of ETH from Kraken, and $58 million from Bitgo, matching prior BitMine purchase patterns.”

BitMine has already bought the dip twice earlier this week and now holds at least 3.73 million ETH worth almost $12 billion.

TOM LEE JUST BOUGHT $150M ETH

Two fresh wallets just withdrew $92M of ETH from Kraken, and $58M from Bitgo, matching prior Bitmine purchase patterns.

Tom Lee is DCAing ETH. pic.twitter.com/uZxEnhVvzi

— Arkham (@arkham) December 3, 2025

ETH Price Outlook
Ether prices hit a three-week high of $3,230 during early trading in Asia on Thursday, but it could not hold above it and dipped slightly to $3,200 at the time of writing.

The asset has recovered 16% since its dip to $2,740 earlier this week during the latest leverage flush. Comparatively, Bitcoin has only recovered 10% from its Tuesday low to $83,500.

Nevertheless, Ether remains down 35% from its all-time high and is also 4.5% in the red year-to-date.

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Crypto Journalist

Amin Ayan

Crypto Journalist

Amin Ayan

About Author

Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has...

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December 4, 2025

A critical hardware flaw has been discovered in a smartphone chip used by the Solana Seeker and other devices, potentially exposing crypto holders to complete device takeover and private key theft, according to a new report from Ledger.

Key Takeaways:

Ledger found an unfixable flaw in the MediaTek Dimensity 7300 chip that can lead to full device takeover and private key theft.
The attack targets the phone’s boot process, allowing hackers with physical access to bypass security controls in minutes.
No software update can fix the issue, as the vulnerability is built into the chip’s hardware.

In findings published Wednesday, researchers at the hardware wallet maker said they successfully compromised the MediaTek Dimensity 7300, bypassing built-in protections and gaining what they described as “full and absolute control” of an affected handset.

The vulnerability, they warned, allows attackers with physical access to extract sensitive data, including cryptographic keys used to secure digital assets.

Solana Seeker Chip Exposed by Boot-Phase Attack, Ledger FindsThe chip powers a range of smartphones, including the crypto-centric Solana Seeker, which markets itself as a mobile gateway for decentralized applications.

Ledger security engineers Charles Christen and Léo Benito said the exploit hinges on electromagnetic fault injection during the chip’s earliest boot phase.

By carefully disrupting that process, the team was able to circumvent memory protections and overwrite security controls inside the system-on-chip.

“The result is total compromise,” the researchers said, adding that once the attack is successful, there is no technical barrier left to prevent access to data stored on the device.

Most importantly for crypto users, the vulnerability cannot be resolved through updates or software patches.

The weakness is embedded in the silicon itself, making it permanent for all devices built on the affected chipset. “Users remain exposed even after disclosure,” the researchers wrote.

The Seeker is just a collection of different bugs 😭

I can't connect my Seeker Vault with most apps, the Seeker Vault loses my private key every other week and it won't recognize my device activities for the SKR airdrop.

— CryptoParsel (@derparsel) December 3, 2025
While the chance of success in a single attempt is relatively low, estimated between 0.1% and 1%, the attack can be executed repeatedly in quick succession.

Ledger estimates that with enough attempts, compromise can occur in a matter of minutes.

MediaTek told Ledger the issue lies outside the design scope of the Dimensity 7300.

In a statement, the company said the chip was developed for consumer smartphones, not for environments requiring secure enclaves comparable to financial infrastructure or hardware security modules.

“For products handling sensitive cryptographic material, manufacturers should implement specific protections against physical attacks,” MediaTek said.

Ledger disclosed the flaw to MediaTek in early May after beginning tests in February. The chipmaker subsequently notified device vendors believed to be affected.

Solana Mobile to Launch SKR Governance Token in 2026Solana Mobile plans to launch SKR, a native token tied to its Seeker phone, at the start of 2026, positioning it as the governance token for its mobile ecosystem.

SKR Tokenomics

The total SKR supply is 10 billion SKR.

SKR distribution:
– 30% Airdrops
– 25% Growth + Partnerships
– 10% Liquidity + Launch
– 10% Community Treasury
– 15% Solana Mobile
– 10% Solana Labs pic.twitter.com/pluKRzTDVZ

— Seeker | Solana Mobile (@solanamobile) December 3, 2025
The token will have a total supply of 10 billion, with 30% earmarked for airdrops and 25% set aside for growth and partnerships.

The remaining allocation includes 10% for liquidity, 10% for a community treasury, 15% for Solana Mobile, and 10% for Solana Labs.

The company says SKR is meant to give Seeker owners “actual ownership in the platform” and will feature linear inflation to reward early stakers.

More details are expected to be revealed at Solana Breakpoint Conference from Dec. 11–13.

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He also praised the Ripple team for removing XRP scam videos from YouTube.

With the end-of-the-year holidays just around the corner, Brad Garlinghouse warned people to be extremely careful when dealing with suspicious online activity, as scammers tend to ramp up their efforts during this time, hoping that victims stay quiet.

He has issued several similar warnings in the past few months, due to the growing number of scams focused on Ripple’s native token.

Stay Vigilant
Garlinghouse praised a website called Scamberrypie, which provides more details for people on how to protect themselves against online scams. He also noted that his company had partnered with other big names in the industry, such as Match Group, Cash App, National Cryptocurrency Association, and Coinbase, to spread the word.

This Christmas, stay vigilant! Check out https://t.co/FxEyQnzgaB for more info on how to protect yourself and your loved ones from online scams. Proud to partner with Match Group, Cash App, National Cryptocurrency Association and Coinbase on this campaign.

Also a big shout out… https://t.co/pUqNSgjEwk

— Brad Garlinghouse (@bgarlinghouse) December 2, 2025

The website states that 57% of adults experienced at least one attempted scam in 2025, while 23% had money stolen by bad actors. 20% of those who were duped did not report it anywhere, and the estimated total of funds stolen by fraudsters has neared $450 billion.

Some of the biggest red flags for online scams include time pressure, flattery, “can’t-miss” investment claims, and irreversible payments.

XRP YouTube Videos
Garlinghouse has been quite vocal on the issue for the past several months, especially since his company’s native token exploded in value and popularity after last year’s presidential elections. He has alerted the community multiple times to the growing number of fake online videos, mostly on YouTube, urging victims to send a certain amount of XRP to a dedicated address, promising they will receive twice that amount.

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Meteora Co-Founder Hit with New Lawsuit Over Token Scams Linked to Trump, Milei

Naturally, if it sounds too good to be true, it most likely is. He doubled down in November, indicating that bad actors had returned with fake Ripple or XRP livestreams, giveaways, and deepfake videos. He emphasized that the Ripple team will never ask users to transfer their assets, share wallet data, or join investment streams.

Additionally, he noted that people should double- and even triple-check the sources of these suspicious videos before even considering opening them.

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TLDR

Table of Contents

TLDRAdams Slams Citadel’s Approach to DeFi RegulationCitadel’s Argument on Tokenized Markets and DeFiDeFi Developers and Market Makers Could Face Regulatory Challenges

Uniswap’s founder Hayden Adams criticized Citadel for pushing the SEC to regulate DeFi like traditional exchanges.
Adams accused Citadel of trying to control DeFi and undermine its decentralized principles.
Citadel argues that DeFi protocols should follow the same rules as traditional financial systems.
The firm believes that many DeFi actors, including developers and validators, should be treated as financial intermediaries.
DeFi advocates warn that applying traditional rules could hinder innovation and the open nature of platforms like Uniswap.

Uniswap founder Hayden Adams has criticized Citadel Securities after the market maker urged the US SEC to regulate decentralized finance (DeFi) protocols like traditional exchanges. Citadel called for tokenized markets to follow the same rules as conventional financial institutions. Adams responded by accusing Citadel of trying to control DeFi, which he says would harm the decentralized nature of these platforms.

Adams Slams Citadel’s Approach to DeFi Regulation
In a post on X, Hayden Adams called out Citadel’s influence on the SEC’s stance toward DeFi. He linked the firm’s recent actions to a past clash with the Constitution DAO. “First Ken Griffin screwed over Constitution DAO,” Adams tweeted, referencing Citadel’s founder. He then added,

“Now he’s coming for DeFi, asking the SEC to treat software developers of decentralized protocols like centralized intermediaries.”

Adams accused Citadel of lobbying behind closed doors for years to push its agenda. He specifically ridiculed Citadel’s claim that DeFi lacks fair access to markets. “The actual nerve for one of their arguments to be that there is no way for DeFi protocols to provide ‘fair access’,” he said, pointing out Citadel’s hypocrisy.

Citadel’s Argument on Tokenized Markets and DeFi
Citadel’s filing to the SEC outlines concerns over the rise of decentralized systems. The firm claims these systems coordinate buyers and sellers similarly to traditional exchanges. According to Citadel, this makes DeFi protocols functionally similar to regulated financial intermediaries.

Citadel further argues that activities in DeFi should not be treated differently due to their blockchain-based nature. The company insists that regulators should apply a neutral approach to technology. In its view, the same rules should govern any system that performs the same function, regardless of whether it’s on a blockchain or a centralized exchange.

DeFi Developers and Market Makers Could Face Regulatory Challenges
In its filing, Citadel highlighted the wide range of players in the DeFi ecosystem. From trading interfaces and smart contract developers to validators and liquidity providers, Citadel sees many of these entities as de facto financial intermediaries. The firm believes that these actors often take transaction-based fees or influence order routing.

As a result, Citadel believes they should be subject to the same regulatory requirements as traditional brokers. This includes potential registration, capital rules, and best execution duties. Such changes could create challenges for the decentralized nature of platforms like Uniswap, which rely on open-source code and peer-to-peer technology.

Despite these concerns, Adams and other DeFi advocates argue that such regulatory pressures could stifle innovation. They worry that the imposition of traditional rules would harm the flexibility and permissionless innovation that has defined the success of decentralized platforms like Uniswap. As this regulatory debate unfolds, the future of DeFi’s relationship with traditional financial systems remains uncertain.

8h15 ▪
4
min read ▪ by
Luc Jose A.

Summarize this article with:

Bitcoin is changing dimension. For the first time since its creation, it is establishing itself as a pillar of institutional allocation. According to a joint analysis by Glassnode and Fanara Digital, $732 billion of new capital has been injected since the 2022 low, an absolute record surpassing all previous cycles combined. This massive flow does not reflect mere temporary euphoria but signals a structural market shift. Bitcoin is no longer merely speculative; it becomes a strategic asset in institutional portfolios.

In Brief

Bitcoin recorded a record inflow of $732 billion since the 2022 low, surpassing all previous cycles.
This massive capital injection marks a growing institutionalization of the crypto market.
The realized cap reached a historic peak of $1.1 trillion, reflecting the depth of investments.
The current evolution could make Bitcoin a strategic asset within long-term professional portfolios.

A Record Capital Inflow Towards Bitcoin
Bitcoin has just crossed a historic milestone in terms of capital inflows. According to a report published by Glassnode and Fanara Digital, $732 billion of new capital has been injected into the Bitcoin network since the 2022 bear cycle. This amount surpasses all previous cycles combined, highlighting the depth of the ongoing transformation.

“The 2022–2025 cycle alone has attracted more capital than all previous cycles combined“, the report states. This growth has driven the realized cap, which measures the total amount actually invested in circulating BTC, to $1.1 trillion, a level never before reached in the asset’s history.

Here are the key points to remember from this bullish phase driven by institutional flows :

+$732 billion of capital injected since 2022, an absolute record in Bitcoin’s history ;
The realized cap at $1.1 trillion, versus a floor price of $16,000 in 2022, then a peak at $126,000 last October (a +690 % increase) ;
The current cycle surpasses all previous ones in terms of inflow magnitude, according to the report’s authors ;
Growth largely driven by institutional adoption through regulated investment products, notably ETFs ;
The market is evolving toward a more robust structure, incorporating longer flows, less reactive to short-term movements.

This shift marks a fundamental change. Bitcoin is no longer driven solely by speculative or community dynamics but by structured flow mechanisms where strategic allocation logic prevails.

The massive entry of capital through institutional channels not only feeds the price but deeply alters the market’s implicit governance and risk profile.

Towards a More Stable Bitcoin Market
Alongside these unprecedented capital flows, another major transformation is emerging : the structural volatility of Bitcoin.

According to the report, BTC’s annualized volatility dropped from 84.4 % at the peak of the 2021 bull run to 43% by the end of this year. “This volatility compression reveals Bitcoin’s transition toward a more institutionally anchored asset“, the document specifies.

Such a trend toward stabilization is unusual for a market historically subject to strong cyclical amplitudes. It signals a rise in liquidity and market depth, two elements closely linked to growing institutional participation through ETFs and corporate treasuries.

The presence of 1.36 million BTC under management in spot ETFs, about 6.9 % of the circulating supply, valued at an estimated $168 billion, attests to this new reality. The report emphasizes the exceptional demand for these products since their launch.

This volume held within regulated structures contributes both to reducing floating stocks on the market and to better resilience during correction phases. The analysis notes that this situation “contradicts usual bear market scenarios, often marked by increased volatility and shrinking liquidity“.

There is no indication yet whether this dynamic will be sustained long term, but it is already reshaping the market’s contours. More than a cyclical indicator, the Bitcoin price becomes a reflection of a strategic capital repositioning, a discreet mutation with lasting consequences for the crypto ecosystem and its balances.

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Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Bitcoin’s 30-day implied volatility index (BVIV) has fallen sharply to 48, breaking below a long-standing bullish trendline dating back to September. This move signals a clear reduction in market panic and suggests that BTC may continue to experience volatility compression in the near term. At the same time, renewed weakness in the US dollar index is adding bullish tailwinds, historically supporting higher bitcoin prices. Since November, the spot-volatility correlation has remained mostly negative, reinforcing the inverse relationship between BTC price action and volatility trends.

BTC has reclaimed the Friday high of $93,104 as support, pushing firmly into bullish territory above the Ichimoku cloud on the hourly chart. Traders are now watching for a bullish MACD histogram crossover that could trigger the next major upward impulse. The primary upside target remains the $98,000 to $100,000 zone, a confluence of psychological resistance and a descending trendline. However, a drop back below the Ichimoku cloud would challenge the bullish structure and indicate fading momentum.

XRP is holding steady near $2.20 after recently moving above the Ichimoku cloud, forming a solid base for a potential breakout higher. Although the hourly MACD has rolled into a bearish crossover, the lack of significant price decline highlights underlying strength. Resistance remains at $2.28 and $2.30 as buyers look for confirmation of renewed momentum.

Ether continues to build on its bullish reversal after a bear trap, reflected in two strong daily candles with minimal wicks—clear evidence of buyer control. With the daily MACD histogram turning positive, ETH appears positioned to target the October 10 low around $3,510. Short-term consolidation is possible, especially if price retests former resistance turned support at $3,100 while the hourly MACD hints at a temporary slowdown.

Solana is nearing a breakout from its consolidation range, hovering close to resistance at $144.74. A decisive breakout could open the path toward $165 based on measured move projections. Still, the hourly MACD suggests a potential pullback or extended sideways action before momentum fully shifts upward.

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Binance founder Changpeng “CZ” Zhao has introduced the crypto community to a new BNB Chain prediction market powered by Predict.fun, a platform built by a former Binance employee. The project allows users to place bets on real-world and crypto-related events while simultaneously earning yield on idle funds, a feature increasingly seen as essential in the evolving prediction market landscape.

Traditional forecasting platforms typically require traders to lock capital for long periods without generating returns. Predict.fun aims to solve this inefficiency by enabling users to maintain exposure to yield opportunities while their positions remain open. This mirrors industry trends seen on platforms like Polymarket and Kalshi, which have begun integrating staking rewards, treasury incentives, and engagement systems to offset the opportunity cost of long-duration markets.

Predict.fun is still in its early stages, currently featuring two active markets with a combined volume of roughly $300,000. The platform reports over 12,000 users and nearly 300,000 total bets, yet it remains far smaller than established competitors. Polymarket has surpassed $3 billion in total trading volume, while Kalshi has reached about $587 million. Even smaller players such as Limitless have recorded more than $10 million, highlighting the liquidity challenges new entrants face. Many emerging platforms experience temporary spikes driven by reward programs but often struggle to maintain user engagement once incentives end.

One advantage Predict.fun may leverage is its integration with BNB Chain, which leads all blockchains in active users and has seen its active addresses almost double over the past year. With Token Terminal estimating a 25% market share for BNB Chain, the ecosystem offers a sizable audience. However, a significant gap in BNB Chain’s stablecoin liquidity—visible in DefiLlama data—could limit Predict.fun’s growth potential in the near term.

The key test ahead is whether Predict.fun can build sustained volume and challenge smaller competitors like Limitless. While BNB Chain’s large user base offers a strong foundation, success in prediction markets ultimately depends on liquidity, user retention, and consistent market activity—areas where established platforms continue to hold a considerable edge.

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