Market Signal Briefing

ETH Price

Ethereum

Price Prediction

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Author

Alejandro Arrieche

Author

Alejandro Arrieche

About Author

Alejandro is a seasoned financial analyst and adept business expert with over seven years of experience in dissecting complex business topics and vital market trends. His insightful writing, which has...

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Last updated: 

December 4, 2025

A quantitative trading firm called Jane Street just took a stake in a company that claims to have strengthened the Ethereum blockchain. As institutional appetite for blockchain tech keeps rising, this favors a bullish Ethereum price prediction.

Antithesis, a firm based in North Carolina, received $105 million during its Series A funding round, led by Jane Street.

A fast-growing Vienna software testing startup whose tools find bugs in computer programming code, has landed $100 million in a Series A fundraising round led by one its largest customers. https://t.co/ZuyFG9hJrF

— Washington Business Journal (@WBJonline) December 3, 2025
According to Antithesis, they helped Ethereum during its transition to a proof-of-stake (PoS) consensus protocol through its advanced simulations and stress tests to ensure that the upgrade went through no matter what.

Its systems can allegedly replay any bug that shows up during the deployment of new software. As a result, engineers can quickly identify exactly what went wrong to correct it immediately.

As blockchain technology becomes stronger, smart contracts platforms like Ethereum will likely be adopted by big institutions. They are viewed as the infrastructure for the next generation of financial applications running on independent networks.

Ethereum Price Prediction: Double Bottom Could Confirm the Begining of ETH’s Next Leg UpEthereum (ETH) recently jumped after making a double bottom at $2,750. This confirms the relevance of this price level for market participants and justifies a bullish Ethereum price prediction.

Source: TradingViewIn the past 24 hours alone, ETH has gained 4.2% while trading volumes remain high at $31 billion. This figure accounts for 8% of the token’s circulating market cap.

In the daily chart, the Relative Strength Index (RSI) has also jumped above the mid-line. This means that positive momentum is accelerating.

If the rally continues, a bullish breakout of the $3,350 resistance could confirm a trend reversal. This could result in a full-blown recovery for ETH that pushes the token back to $4,000 within the next few weeks.

As cryptos start to recover, innovative crypto presales that further strengthen existing networks like Bitcoin Hyper ($HYPER) will likely capture the most upside.

This layer-2 chain for Bitcoin leverages the power of the Solana blockchain to lower transaction costs and increase the network’s speed.

Bitcoin Hyper ($HYPER) is Launching a Solana-Powered Layer for BitcoinBitcoin Hyper ($HYPER) is designed to eliminate the hurdles that have prevented the Bitcoin ecosystem from further growth.

It leverages the efficiency of the Solana blockchain to reduce fees and ramps up the number of transactions that can be processed per second.

This allows the Hyper L2 to host decentralized apps that can still run on the Bitcoin OG blockchain.

Users can safely send their BTC tokens to the Hyper Bridge and get the corresponding amount on the L2 almost instantly.

As top wallets and exchanges adopt the Hyper L2, demand for $HYPER is expected to rise rapidly.

To invest in $HYPER, simply head to the official Bitcoin Hyper website and link up a compatible wallet like Best Wallet.

You can either swap USDT or SOL for this token or use a bank card instead.

Visit the Official Bitcoin Hyper Website Here

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Pepe

Price Prediction

Technical Analysis

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Content Writer

Harvey Hunter

Content Writer

Harvey Hunter

About Author

Harvey Hunter is a Content Writer at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.

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Last updated: 

December 4, 2025

Key technicals are flashing green, and traders are banking on the fact that bullish Pepe price predictions finally have the support to be realised.

The often-overlooked Bollinger Bands may be the clearest tell. After spending two months below the central basis line, the meme coin has finally broken above it as buyers return.

PEPE USDT 1-day chart, Bollinger bands. Source: TradingVeiw.The bands are also narrowing, signalling a volatility squeeze that marks a shift away from the prior freefall and adds weight to a bottom taking shape.

Market participants appear to be leaning into the setup. Open Interest has risen 26% since the second bounce, adding more than $55 million as traders re-engage with the price action.

PEPE Open Interest. Source: Coinglass.And they appear to be positioning for further upside, with a Long-Short Ratio of 1.03 suggesting the majority of traders are longing the PEPE price.

Pepe Price Prediction: The Strongest Bottom Signal Yet?This potential bottom appears to have taken shape as a double-bottom reversal, with a second bounce along the $0.000004 level now gaining momentum.

PEPE USDT 1-day chart, double bottom reversal. Source: TradingVeiw.Pepe now tests the pattern’s neckline at $0.0000049, a level that must flip to support to confirm the bullish setup.

Momentum indicators support further upside. The MACD widens its gap above the signal line while the RSI approaches the 50 neutral line for the first time in two months, both signals that buyers are controlling the move.

Fully realised, the pattern targets a measured 50% move to reclaim November highs at $0.0000075. But if this level can be flipped to support, it may mark the start of an extended rally.

And with supportive market conditions, such as a U.S. interest rate ease in December to stimulate demand for riskier plays PEPE, it could push 240% to May highs at $0.0000165.

Pepe Node: A Better Way to Buy the DipIf the past two months have proven anything, it’s that it can be difficult to buy the dip on volatile tokens like meme coins without leaving yourself exposed to heavy losses.

PepeNode ($PEPENODE) helps with an easier way to accumulate, without needing to time the market — the pitfall of most meme coin investors.

It’s a simple mine-to-earn (M2E) game. No hardware needed.

Just log in, acquire virtual nodes, stack rigs, and configure your setup to start earning passive rewards, diversified across top-performing meme coins.

Momentum is climbing fast. The presale has already passed $2.25 million, while early stakers can still earn up to 573% APY.

And thanks to a built-in deflationary model, where 70% of all $PEPENODE spent on nodes and rigs is burned, scarcity supports long-term token value.

PepeNode stands out as a smarter way to capture some of the market’s strongest upside—without worrying about timing the perfect entry.

Visit the Official PepeNode Website Here

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Peter Schiff engaged in a debate with CZ at Binance Blockchain Week after challenging Bitcoin’s legitimacy as a generator of real economic value. 

Speaking on stage opposite Changpeng Zhao (CZ), Schiff argued that Bitcoin is a zero-sum wealth transfer rather than a productive asset.

Here is Schiff’s full statement as delivered during the debate:

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“All Bitcoin does is enable a transfer of wealth from people who buy BTC to the people who sell it. When Bitcoin is created, there’s no real wealth. We have about 20 million Bitcoin now that we didn’t have 15 years ago. But we’re no better off because that BTC exists. They don’t actually do anything. But what has happened is that some people have been enriched at the expense of other people. Now, the people who have lost a lot of money in Bitcoin don’t even realize they lost it yet, because they still have the BTC, and the token still has a $90-$92,000 price, or whatever the price point is in the current market. So, they don’t realize they have lost the money. But if they try to get out, that’s when they’re gonna realize it’s lost.”

“Bitcoin Enables Transfer of Wealth From Buyers to Sellers”This is true to the extent that any freely traded asset, such as equities, gold, land, fine art, also transfers wealth between participants depending on entry price, exit price, and market conditions.

But Schiff implies that this transfer is zero-sum. That’s inaccurate. Bitcoin’s network itself generates utility, which is distinct from price. 

Bitcoin today powers cross-border settlement, functions as a censorship-resistant store of value, and serves as collateral across financial platforms.

Value is generated through capability, not just material form. A global network that moves capital instantly without banks or intermediaries is a new economic function. That is wealth creation by definition.

If Bitcoin merely redistributed value, it would not underpin payment channels, custody platforms, or multi-billion-dollar remittance rails. 

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A zero-sum asset does not attract corporate treasuries, institutional ETFs, or nation-state adoption.

“No Real Wealth Was Created by the Addition of 20 Million Bitcoin”Wealth does not rely on physical substance. It relies on demand, utility, consensus, and the ability to preserve or transfer value.

Schiff’s logic could be applied historically to:

Government-issued fiat (created by declaration, yet accepted globally).

Internet domain names (non-physical, yet multi-million-dollar assets).

Software and cloud infrastructure (intangible, yet critical to global GDP).
By that standard, software, internet DNS space, AI models, and even fiat money would also fail to qualify as wealth. Yet these intangible systems power most of today’s economy.

Bitcoin created something that did not exist in monetary history: a bearer asset that moves like data, settles without intermediaries, and is mathematically verifiable.

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That feature is comparable to gold digitization but without storage, transport, or assay friction.

Wealth was created because new capabilities emerged.

“People Only Don’t Know They Lost Money Because Price is Still High”This rests on the assumption that Bitcoin will collapse. It could — but it is not a fact, it is a projection.

If Bitcoin remains in demand globally, scarcity and network growth sustain value. 

If adoption grows further — as has occurred across ETFs, corporate treasuries, and sovereign custody — then Schiff’s prediction weakens.

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His view equates unrealized gains with illusions. But:

If someone holds Bitcoin for 10 years and later sells at a higher price, wealth is realized.

If Bitcoin becomes widely transacted and integrated into the monetary infrastructure, the asset functions beyond speculation.
His thesis only holds if Bitcoin fails as a monetary network. And more than a decade of growth suggests the opposite direction.

ConclusionPeter Schiff’s comments captured headlines and sparked discussion, but his reasoning overlooks key economic realities. 

Bitcoin is not merely a wealth transfer. It is a functioning global monetary network with attributes that no traditional asset class replicates. 

The argument that it “creates no wealth” relies on outdated assumptions about where value originates.

Can institutional demand help LINK reverse its 47% loss?

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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Despite the questionable performance on the market of all three assets in our review, there is a great possibility of a recovery continuation. The main culprit here is local resistance, which can be broken if at least a fraction of yesterday's buying volume reappears on the market. 

Shiba Inu's agressive bullishnessOn the surface, this looks like the kind of ignition event traders wait for in downtrending markets. Shiba Inu just printed one of its most aggressive single-day volume surges in months, roughly a 150% spike. The problem is that SHIB remains structurally pinned below every significant moving average (50, 100, 200) on the chart.

Relatively speaking, yesterday’s volume was explosive, but today’s weaker follow-through turns that signal into something far more ambiguous. Was it a classic exit pump in a weary market, or was it genuine accumulation? Based on the price action, the second interpretation is less convincing. 

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SHIB/USDT Chart by TradingViewSHIB’s bounce was rejected almost immediately, leaving a long upper wick after stalling at the 50-day EMA — a level it has not touched since early October. That is not what strong reversals look like. When a real trend shift occurs, shorts are typically forced to cover, producing a decisive close above resistance. Instead, the momentum evaporated, and buyers retreated as quickly as they appeared.

The skepticism deepens when looking at RSI levels hovering in the low-40s. SHIB is not strong enough to show bullish momentum, nor is it oversold enough to suggest a classic reversal setup. It is stuck in a middle zone, where conviction usually fades rather than strengthens.

The chance of recovery is not zero, though. A second high-volume day would signal that yesterday was not just noise — but this time the candle would need to close green and reclaim at least the $0.00000930-$0.00001000 range. Break that range, and a relief rally toward the 100-day EMA becomes possible. Fail, and the market will likely interpret the 150% volume spike as distribution by more astute traders taking advantage of fleeting sentiment.

Ethereum's grim signal was not that scaryEthereum is progressing to a point where the much-discussed death cross may end up being irrelevant. For weeks, the 50-day moving average has been closing in on the 200-day, and the pair recently completed a bearish cross — typically a strong signal that further downside is coming. Yet price action has refused to follow the script. 

Death-cross fakeouts usually begin this way: momentum shifts before the averages react, leaving bears positioned for a continuation that never materializes. Because the crowd tends to overreact to the cross, ETH has historically printed some of its stronger rallies in these conditions — not because the death cross has mystical predictive power but because positioning becomes lopsided.

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The death cross and golden cross simply do not command the same forecasting reliability in today’s market, where algorithmic strategies compress volatility and liquidity remains thin across majors. Still, they influence sentiment, position flows and liquidation cascades, and that alone can amplify price swings.

ETH is currently testing the underside of the 50-day EMA, with RSI already back in the mid-50s and volume ticking higher. That setup signals that buyers are willing to reengage early. If ETH pushes into and holds the $3,350-$3,500 zone, the 50-day average will begin to curl upward, effectively negating the death cross. From there, bears face forced covering, short liquidations and momentum traders flipping long.

Bitcoin pushes backBitcoin’s latest surge pushed the price back toward the $93,000 range, but the chart suggests this is less a clean recovery and more a potential inflection point. The sharp bounce off $86,000 was driven by short covering and oversold conditions, yet the broader structure has not changed. Bitcoin is still trading below the 50-, 100- and 200-day moving averages, all of which continue to slope downward. That is not the posture of a market preparing for a trend reversal; it is a market under sustained macro pressure.

The first meaningful test sits in the $93,000 area. BTC is running directly into the underside of the declining 20-day EMA, a zone that often becomes dynamic resistance once momentum breaks. The rally starts to lose credibility if Bitcoin fails to secure a daily close above this band, which would shove the market back into the lower range.

That lower boundary is the already-swept $86,000 level. A second visit is not far-fetched. If buyers fail to defend it again, the structure deteriorates further and the low-$80,000s become the next logical magnet. The issue is not just price levels; the broader trend is still deteriorating, and months of distribution have created heavy overhead supply that caps upside attempts.

Sentiment could pivot quickly if Bitcoin manages to hold $93,000 and extend into the $95,000-$97,000 range. Reclaiming that zone, which sits just below the 50-day moving average, would force short sellers to unwind and trigger fresh positioning shifts. But bulls still carry the burden of proof. Nothing on the chart confirms sustained strength: the moving averages remain stacked against continuation, volume is inconsistent and the RSI is improving but nowhere near breaking its broader downtrend.

So where is Bitcoin likely to land?

The ceiling is roughly $93,000 unless buyers show real conviction.

$86,000 remains the weakest point in the structure.

Lose $86,000 again, and lower levels become the high-probability outcome.

A major step toward cross-chain interoperability has arrived with the launch of a new bridge connecting Base, Coinbase’s layer-2 network, and the Solana blockchain. Now live on mainnet, the Base-Solana bridge allows users and developers to transfer assets—such as SOL and other SPL tokens—directly between both ecosystems. The bridge is secured by Chainlink’s Cross-Chain Interoperability Protocol (CCIP) along with Coinbase’s infrastructure, giving applications on Base a reliable way to support native Solana assets.

Early adopters of the bridge include Zora, Aerodrome, Virtuals, Flaunch, and Relay, signaling growing demand for seamless multichain interactions. With this integration, users can deposit Solana-based tokens directly into decentralized applications built on Base and transact without switching networks. This simplifies the user experience, reduces friction, and expands access to Solana’s liquidity and token ecosystem from within the Base environment.

For developers, the new interoperability layer offers a significant opportunity. Applications on Base can now support Solana assets natively, enabling new forms of cross-chain trading, onchain finance tools, and asset interactions that were previously impractical. Because the bridge is fully open-source on GitHub, any team can integrate its capabilities and build on top of it.

Chainlink Labs Chief Business Officer Johann Eid emphasized that leveraging CCIP allows Base to deliver secure cross-chain infrastructure aligned with standards trusted by major financial institutions. He noted that such reliability is essential for scaling onchain finance to support global markets and the vast value they represent.

The Base-Solana bridge represents a foundational step toward a more interconnected blockchain landscape and a future where liquidity flows freely across networks. Solana is the first chain integrated into this expanding framework, with additional networks expected to follow as the vision of unified, always-on capital markets continues to evolve.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

price analysis

SHIB

Shiba inu

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We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More

Author

Alejandro Arrieche

Author

Alejandro Arrieche

About Author

Alejandro is a seasoned financial analyst and adept business expert with over seven years of experience in dissecting complex business topics and vital market trends. His insightful writing, which has...

Has Also Written

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Last updated: 

December 4, 2025

The developing team behind the Shibarium layer-2 chain for Shiba Inu has set a timeline for the deployment of a new privacy-focused upgrade. Can this favor a bullish Shiba Inu price prediction and reverse the token’s latest downtrend?

According to the latest roadmap, fully homomorphic encryption (FHE) for the Shibarium L2 should be implemented during the first half of 2026.

Zama, the platform that will facilitate this overhaul, said that this would make SHIB and BONE transactions anonymous. It will also protect the data contained on smart contracts to prevent exploits.

Earlier this year, Shibarium was attacked by a hacker who drained over $4 million from the protocol. After several failed attempts to reach out to the hacker, the Shiba Inu team said that he refused to receive a bounty for returning the funds.

This undermined the project’s credibility and pressured developers to strengthen the L2’s architecture.

Shiba Inu Price Prediction: SHIB Hits Key Trend Line Resistance – What Could Happen Next?Over the past 24 hours, SHIB has consolidated around a resistance level, with trading volumes increasing by 43%.

Source: TradingViewSHIB has just reached the upper edge of a descending channel that’s been shaping price action since mid-December, shortly after the bridge exploit.

While signs of rejection have started to appear, holding above the $0.0000090 mark could flip the script entirely. If support holds, SHIB may attempt a move toward $0.000010 in the near term. A failure to hold, however, risks another leg down to $0.0000080.

With momentum building in the meme coin space, the spotlight is shifting to new, high-upside presales entering their early adoption phase.

One of the most talked-about right now is Maxi Doge ($MAXI), a fresh presale tapping into the same early-stage community power that launched Dogecoin.

The project has already raised over $4 million as traders look for the next breakout meme coin built around culture, competition, and high-energy engagement.

Maxi Doge ($MAXI) Unites Meme Traders With an Appetite for RiskMaxi Doge ($MAXI) is what you get when you give a Shiba Inu too many Red Bulls and put it in front of a price chart.

The result of this experiment is a Doge-inspired meme coin that is blasting through its presale stages.

Maxi Doge ($MAXI) is more than just another meme coin, it’s building a high-energy community where early opportunities and top trading setups are shared in real time.

The project thrives on the same hype-driven energy that fuels bull markets, bringing traders together through fun competitions like Maxi Ripped and Maxi Gains.

These events reward the highest-yielding trades with prizes and recognition, turning every win into a chance to boost your rep.

What sets $MAXI apart is its aggressive strategy.

Up to 25% of the presale funds will be used for YOLO trades, targeting big wins that can fuel viral marketing and draw more attention to the token.

By combining meme culture, alpha sharing, and high-stakes plays, Maxi Doge is positioning itself as the go-to hub for traders chasing the next breakout cycle.

To buy $MAXI and join the pump, simply head to the official Maxi Doge website and link up your wallet (e.g. Best Wallet).

You can either swap USDT or ETH or use a bank card to invest in seconds.

Visit the Official Maxi Doge Website Here

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Ripple's expanded push into unified digital asset infrastructure signals a bid to anchor real-time global finance by fusing treasury intelligence, custody, liquidity and settlement into a single enterprise platform. Ripple Broadens Its Institutional Finance Ambitions Growing institutional demand for real-time financial infrastructure is reshaping how companies design digital asset systems. Ripple published on Dec.

Former U.S. presidential candidate Vivek Ramaswamy cofounded Strive with Anson Frericks in 2022

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On October 10, MSCI, the world’s second-largest index provider, floated a proposal that immediately dealt a sharp blow to a small but fast-growing corporate category: digital asset treasury firms.

MSCI suggested reclassifying these unique public companies, whose primary business activity is holding bitcoin or other digital assets, as “funds” rather than operating companies. Under the draft, if a firm’s digital asset holdings exceed 50% of its total assets, it could be removed from its benchmarks. Hundreds of public companies holding over $180 billion in crypto now consider themselves digital asset treasuries, so it’s no wonder that the news sent jitters across the market.

For the biggest bitcoin treasury, Michael Saylor’s Strategy, the news was like a gut punch. Its shares fell about 20% after the announcement’s release. Indexes tracking or mimicking MSCI’s products, including the Nasdaq-100, hold about $9 billion of the company’s $54 billion market cap, including $2.8 billion tied specifically to MSCI’s indexes.

MSCI’s latest proposal revolves around an important question: is a company whose main function is acquiring and holding a digital asset like bitcoin, and using assorted financing techniques to support it an operating business or a fund?

Saylor, whose company still operates a $500 million software division, has used his bitcoin hoard to engineer an entire catalog of publicly traded structured notes and preferred equity instruments. He insists that financial engineering is his operating business. He’s not alone in pushing back.

Strive Asset Management, the investment firm cofounded by Vivek Ramaswamy and now the fourteenth-largest corporate bitcoin holder with $704 million on its balance sheet, has just submitted a seven-page letter to MSCI chairman and CEO Henry Fernandez, shared with Forbes, urging his firm to withdraw the proposal.

The letter argues MSCI risks abandoning the core principle of passive investing: neutrality. “An index provider’s purpose is not to take a view,” it says, “but to accurately reflect the equity universe so investors need not judge the wisdom of individual business strategies.” If specific investors want to exclude bitcoin-heavy firms, Strive argues, MSCI already sells the tools custom indexes, overlays, asset class screens.

Strive’s believes that MSCI is applying an blunt definition to a rapidly evolving business model. Miners such as MARA Holdings, Riot Platforms and Hut 8—three of the largest corporate bitcoin holders—are now morphing into AI infrastructure companies. These miners “are rapidly diversifying their data centers to provide power and infrastructure for AI computing,” the letter notes, and several have signed multibillion-dollar deals with Big Tech.

At the same time, bitcoin-backed structured finance has taken off. JPMorgan, Morgan Stanley, Goldman Sachs and Citigroup have all filed prospectuses for structured notes tied to bitcoin’s returns—some with downside buffers, others with high coupon payments. New Hampshire launched the first bitcoin-backed municipal bond. Strategy, Metaplanet, and Strive each issued their own structured instruments this year. “Bitcoin structured finance is as real a business for us as it is for JPMorgan,” the letter states.

So worried is Strive about MSCI’s bitcoin treasury kibosh that it rolled out a host of its top executives to make its case. Ben Werkman, Strive’s chief investment officer, argues index committees may be rushing to define a category before it has even taken shape. “You’ve got to remember that this sector is largely seven or eight months old, outside of Strategy, Metaplanet and Semler,” he says. “This decision takes away future flows.”

Werkman also points out that bitcoin is no longer an exotic fringe asset. “You’ve got a supportive administration around this. You have banks issuing structured bitcoin finance products. Vanguard is now offering the ETFs to their customers. It’s the most profitable product that BlackRock has. You’ve seen central banks now put it on the balance sheet.”

Jeff Walton, Strive’s chief risk officer who also runs a popular bitcoin-focused podcast True North, adds that MSCI’s logic is inconsistent. Insurance companies are structured-finance businesses, he notes, yet no index provider questions their operating company status. “54% percent of MSCI’s assets on their balance sheet are goodwill,” he says. “Then you start to ask: Where do you draw the line? What is capital, what is an asset?”

Dave Weisberger, a portfolio trading veteran and cofounder of institutional algorithmic trading platform CoinRoutes, says MSCI’s move may have less to do with philosophy and more to do with competitive pressure. “They have a pretty good stranglehold on the international indexes,” he says, “but their U.S. and World indexes face strong competition from S&P, Russell etc. The last thing you want, if you’re an index provider,—in fact, it’s disastrous for you— is for your benchmark to underperform your competitors over a long period of time.” Bitcoin’s wild volatility including long-term run ups, followed by sharp drawdowns like the recent one, makes it a “double-edged sword.” “If you look back even the last five years, having Strategy in the indexes (MSCI USA and MSCI World) was tremendously beneficial,” he says. “But over the last year, it might have actually been helpful to not have it.”

Strive’s letter also warns that MSCI’s 50% threshold may be impossible to enforce. Bitcoin’s volatility alone could push companies in and out of index eligibility quarter to quarter, creating churn for fund managers and higher tracking error for institutional allocators.

But the bigger issue is accounting. If a company shifts exposure from spot bitcoin into derivatives, ETFs or structured notes, its balance sheet may appear to dip below the 50% line even though its economic exposure remains the same. Strive notes that Trump Media & Technology Group escaped MSCI’s preliminary exclusion list because its spot holdings sat just under the threshold, but including its derivatives exposure would push it above 60%.

Then there is the U.S. versus international divide. Under newly updated GAAP rules, U.S. companies must mark digital assets to fair value. Under IFRS, common in Europe and parts of Asia, companies can often keep crypto at cost. So two firms with identical bitcoin positions could be classified differently simply based on jurisdiction.

Werkman warns this dynamic could push innovation overseas. “You’re going to penalize the U.S. markets and the products launched here in favor of the international markets that have the more favorable treatment that bypasses these types of mandates,” he says. And even if MSCI finalizes the rule, he argues, companies could engineer around it. “If I was at 49% spot and the rest of my exposure I take in derivatives, do I now count? Is it exposure-based? How are you going to manage that?”’

Not everyone is buying Strive’s arguments. “If these were operating companies in the sense of being originators and charging fees, the feedback would make sense,” says Austin Campbell, an adjunct professor at NYU Stern and former banker. “But they are not. They are much more just owning the products or the issuers of the products. Should mortgage-backed securities be in the index? If not, why should a company just tranching itself be "operating"? The act of issuing debt does not change your operations.”

Steven Schoenfeld, CEO of MarketVector Indexes, echoes that view. DATs, he says, “are structured in a similar way as investment trusts/closed-end funds with some elements of financial engineering,” and index providers globally exclude such vehicles to avoid “double-counting or circular exposure.” MSCI, he adds, is now trying to standardize how that rule should apply to “Digital Asset Treasury firms structured as funds,” and MarketVector’s own advisory committee is reviewing similar questions.

MSCI is set to issue its decision on January 15. A reversal would give bitcoin bulls another tailwind. A removal would likely dampen demand for these new publicly traded crypto creations, and hit the Wall Street banks that have been eagerly financing them.

Ethereum just completed the Fusaka upgrade, a hard fork designed to prepare the network for larger scale and cheaper use. While technical on paper, the change touches the core functions of Ethereum — how data is stored, how transactions fit into blocks, and how Rollups like Arbitrum, Base, and Optimism interact with the main chain. 

For anyone holding ETH, this upgrade forms the groundwork for lower fees, better network efficiency, and a more resilient long-term ecosystem.

A Larger Network With More Room to BreatheThe biggest change arrived in how Ethereum handles data. 

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Every transaction, NFT mint, DeFi swap, or Layer-2 batch needs block space, and until now, that space was limited. Fusaka increases Ethereum’s capacity so blocks can carry more information at once. 

This does not make the chain instantly faster, but it removes pressure when demand spikes, such as during market volatility or popular token launches. 

In simple terms, Ethereum can absorb more activity without struggling.

Cheaper Rollups Through Expanded Blob CapacityA large portion of today’s Ethereum traffic comes from Rollups. These networks batch thousands of user transactions and settle them on Ethereum as compressed data called “blobs.” 

Before Fusaka, blob space was constrained. When demand surged, fees climbed. Fusaka expands the room available for blob submissions and introduces a flexible system for raising or lowering capacity without a full upgrade. 

As rollups scale into this new space, users should experience lower transaction costs and smoother application activity. 

The end goal is simple: more transactions, less friction.

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Ethereum Fusaka Upgrade Explained. Source: X/Bull TheoryPeerDAS: A Simpler Way to Verify DataAnother major improvement is how Ethereum nodes verify data. Previously, nodes had to download large sections of block data to confirm that nothing was missing or hidden. 

Fusaka introduces PeerDAS, a system that checks small, random pieces of data rather than the entire load. 

It works like inspecting a warehouse by opening a few random boxes instead of checking every single one. 

PeerDAS in Fusaka is significant because it literally is sharding.

Ethereum is coming to consensus on blocks without requiring any single node to see more than a tiny fraction of the data. And this is robust to 51% attacks – it's client-side probabilistic verification, not… pic.twitter.com/OK81xBteER

— vitalik.eth (@VitalikButerin) December 3, 2025
This reduces bandwidth and storage requirements for validators and node operators, making it easier — and cheaper — for more people to run infrastructure. 

A wider validator base strengthens decentralization, which ultimately strengthens Ethereum’s security and resilience.

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Higher Block Capacity Means More ThroughputAlongside scaling capacity, Fusaka also raises the block gas limit. A higher limit means more work can fit inside each block, allowing more transactions and smart-contract calls to settle without delay. 

It doesn’t increase block speed, but it increases throughput. DeFi activity, NFT auctions, and high-frequency trading will have more room to breathe in peak hours.

Better Wallet Support and Future UX ImprovementsFusaka also includes improvements to Ethereum’s cryptography and virtual machine. The upgrade adds support for P-256 signatures, which are used in modern authentication systems, including those behind password-less login on smartphones and biometric devices. 

This opens a path for future wallets that act more like Apple Pay or Google Passkeys rather than seed-phrase-based apps. Over time, this could make Ethereum access simpler for mainstream users.

Ethereum is about to 10x the wallet UX.

The Fusaka upgrade includes EIP-7951 – support for the signature scheme that the iPhones use to power things like Face ID.

Meaning you'll soon be able to sign transactions with your face.

Huge win for bringing normal people on-chain. pic.twitter.com/7Ad38m4Oxz

— Jarrod Watts (@jarrodwatts) November 27, 2025
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What Fusaka Means for ETH HoldersThe impact for ETH holders is gradual but meaningful. Fees on Layer-2 networks should ease as data capacity expands. Network congestion should become less common. More validators can participate due to lower hardware demands. 

Most importantly, Ethereum now has room to grow without sacrificing security or decentralization. If adoption increases, settlement volume grows with it — and so does ETH’s role as the asset that powers, secures, and settles everything on top.

$ETH is still consolidating around the $3,000 level.

Not much price action due to weekends, but next week could be interesting.

QT is ending on December 1st, Powell's speech is on December 1st, and the Fusaka upgrade is coming on December 3rd.

If Ethereum holds above the… pic.twitter.com/pxgmrOHyah

— Ted (@TedPillows) November 30, 2025
A Foundational Upgrade, Not a Flashy OneFusaka does not rewrite Ethereum’s economics or make ETH suddenly deflationary, but it strengthens the foundation that future demand depends on. Cheaper rollup fees invite usage. 

A more scalable base layer invites developers. A more accessible node environment invites participation. These are structural upgrades, the kind that do little in a day but transform the network over time.

Ethereum widened the highway, improved the toll system, and made it easier for new drivers to join. That is the real meaning of Fusaka — a quiet shift with long-term weight. 

As Layer-2 networks expand and applications multiply, the effects should move from technical discussion into user experience, transaction cost, and ultimately, ETH value itself.

Strategy's (ticker MSTR) resilience matters more for bitcoin’s near-term price outlook than miner activity, according to JPMorgan analysts. That's despite the fact that the world's largest bitcoin holder has yet to sell BTC, and what appears to be increasing sell pressure from Bitcoin miners.

Bitcoin’s price has remained under pressure recently because of two factors, the JPMorgan analysts, led by managing director Nikolaos Panigirtzoglou, said in a Wednesday report. Those factors include the recent decline in the Bitcoin network hashrate and mining difficulty, and developments around Strategy.

The decline in hashrate and mining difficulty reflects two forces, the analysts said: China reiterating its ban on bitcoin mining after a surge in private mining activity, and high-cost miners outside China retreating as lower prices and elevated energy costs squeeze profitability.

While ordinarily a drop in hashrate boosts miner revenue, the analysts said "the bitcoin price continues to hover below its production cost," leading to sell pressure on the first and largest cryptocurrency. 

The JPMorgan analysts now estimate bitcoin’s production cost at $90,000, down from $94,000 last month. The updated estimate assumes electricity at $0.05/kWh, with each $0.01/kWh increase raising production cost by $18,000 for higher-cost producers, the analysts estimate. 

"As profits get squeezed amid elevated electricity costs and lower bitcoin price, certain high cost miners have been forced to sell bitcoins in recent weeks," according to JPMorgan's report.

Even so, the analysts said miners are not the main driver of bitcoin’s next move. Instead, they pointed to Strategy’s balance sheet and its ability to avoid selling bitcoin.

Strategy sends a signal
Strategy’s enterprise-value-to-bitcoin-holdings ratio — calculated as the combined market value of its debt, preferreds, and equity divided by the market value of its bitcoin — currently stands at 1.13, after declining sharply in the second half of this year, the analysts said. The fact that it remains safely above 1 is “encouraging,” because it signals that Strategy is unlikely to face pressure to sell bitcoin to meet dividend or interest obligations.

"If this ratio stays above 1.0 and MicroStrategy can eventually avoid selling bitcoins, markets will likely be reassured and the worst for bitcoin prices will likely be behind us," the analysts wrote.

The analysts also highlighted Strategy’s recent creation of a $1.44 billion U.S. dollar reserve, saying the fund could cover up to two years of dividend and interest payments. This reserve further reduces the likelihood of forced bitcoin sales “in the foreseeable future,” they said, helping stabilize bitcoin’s outlook.

Strategy has recently slowed its accumulation of bitcoin, including one week that may have passed without any new buys. However, the firm is still building its treasury and announced earlier this week that its stockpile crossed the 650,000 BTC mark.

MSTR's MSCI exclusion risk 'already more than priced in'
Markets are now watching whether MSCI will remove Strategy and other digital asset treasury or DAT companies from its equity indices. JPMorgan said the impact would likely be "asymmetric."

A removal decision would have limited downside, the analysts said, because the risk is “already more than priced in.” Since Oct. 10, when MSCI first announced its consultation, Strategy’s share price fell 40% through Dec. 2, underperforming bitcoin by 20%, or roughly $18 billion in market value. The scale of that underperformance suggests that markets have already priced in exclusion from MSCI — and potentially from all major equity indices, according to the analysts.

Last month, the analysts estimated that MSCI exclusion would induce $2.8 billion in outflows from Strategy, and $8.8 billion if all other equity indices were to follow suit. At the time, Strategy’s co-founder and executive chairman, Michael Saylor, said: “Index classification doesn’t define us. Our strategy is long-term, our conviction in bitcoin is unwavering.”

The analysts said MSCI’s pending Jan. 15 decision will be important for Strategy and for bitcoin’s trajectory, but reiterated that a negative decision would likely have limited additional downside.

By contrast, if MSCI keeps Strategy in its indices, the analysts said both Strategy and bitcoin “will likely rebound strongly” toward their pre-Oct. 10 levels — before what became the largest crypto liquidation event in history.

The analysts said if bitcoin’s price falls below its revised production-cost estimate of $90,000 and stays there for an extended period, as it did in 2018, more miners would come under pressure, potentially pushing production-cost estimates even lower. Production cost has historically acted as a “soft floor” or support level, they noted.

Still, the analysts reiterated bitcoin’s longer-term upside. Their volatility-adjusted comparison of bitcoin to gold continues to imply a theoretical bitcoin price close to $170,000, suggesting significant appreciation over the next 6–12 months if market conditions stabilize.

Bitcoin is currently trading around $92,340, according to The Block’s bitcoin price page.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Ethereum is showing notable relative strength as it reclaims the $3,150 level and attempts to push higher, signaling early signs of recovery after weeks dominated by heavy selling pressure, fear, and uncertainty. The broader market rebound has helped restore confidence, but ETH’s ability to outperform key altcoins highlights growing demand and improved sentiment around the asset.

Adding to the renewed optimism, fresh on-chain data from Lookonchain reveals a significant move from one of the market’s most recognized whales. During the rebound, whale 0xdECF deposited another 5,000 ETH—worth approximately $15.52 million—into Binance.

This wallet has become well-known for sending large batches of ETH to exchanges throughout the recent downturn, often coinciding with moments of heightened volatility and capitulation.

Its latest deposit suggests that the whale remains highly active and responsive to market conditions. While such movements can sometimes introduce uncertainty, they also highlight increasing liquidity and engagement from major holders. With price reclaiming key levels and whales repositioning, Ethereum enters a critical phase where sustained strength could confirm a broader shift in market structure.

Ethereum Whale Distribution Highlights Market Caution
According to Lookonchain, whale 0xdECF has sold 25,603 ETH—valued at approximately $85.44 million—across Binance and Galaxy Digital since October 28. Despite this substantial distribution, the wallet still holds 5,000 ETH (around $15.52 million), suggesting that the whale has not fully exited its position but has significantly reduced exposure during the recent market decline.

Ethereum Whale Transfers | Source: Lookonchain
This pattern of behavior provides important insight into sentiment among large holders: while they are not abandoning Ethereum entirely, they are actively managing risk and responding to volatility more aggressively than usual.

Such persistent selling pressure from a large wallet often acts as a drag on price during periods of weakness, especially when market liquidity is thin. However, the fact that the whale continues to retain a meaningful position indicates an expectation of potential recovery—or at least a desire to remain strategically exposed to future upside.

Ethereum now finds itself in a critical phase. The asset has reclaimed key levels, but its mid-term structure remains highly sensitive to macro conditions and whale behavior. If selling from major holders slows and accumulation begins to outpace distribution, the recent rebound could solidify into a sustained trend. Otherwise, renewed sell flows could place Ethereum at risk of revisiting lower support zones.

ETH Reclaims Short-Term Momentum but Faces Heavy Resistance
Ethereum’s daily chart shows a clear improvement in momentum after reclaiming the $3,150–$3,200 region, but the broader structure remains fragile. The bounce from the $2,750–$2,850 support zone marked a decisive shift in buyer behavior, with strong lower wicks indicating aggressive demand. This rebound has pushed ETH back above key short-term levels, yet the asset still faces a challenging path forward.

ETH testing critical supply level | Source: ETHUSDT chart on TradingView
Price is now approaching the 50-day SMA, currently sloping downward just above $3,250, which now acts as immediate resistance. This moving average has capped every rally since late October and remains the first major barrier for bulls to reclaim. Beyond it, the 100-day SMA around $3,450 and the 200-day SMA near $3,600 form a tight cluster of overhead resistance that defines the medium-term downtrend.

Volume on the recent bounce is stronger than previous attempts, signaling that buyers are showing more conviction compared to the mid-November attempts to recover. However, the overall trend still leans bearish until ETH can break above the 50-day SMA and begin closing daily candles over $3,300.

Ethereum sits in a critical inflection zone: holding above $3,100 strengthens the case for continued recovery, while rejection from the $3,250–$3,300 band could trigger another retest of the $2,800 region. The next few sessions will determine whether this rebound evolves into a deeper trend reversal.

Featured image from ChatGPT, chart from TradingView.com

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Sebastian's journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies.
As his knowledge grew, Sebastian felt compelled to share his insights with others. He began actively contributing to online discussions on platforms like X and LinkedIn, focusing on fintech and crypto-related content. His goal was to expose valuable trends and insights to a wider audience, fostering a deeper understanding of the rapidly evolving crypto landscape. Sebastian's contributions quickly gained recognition, and he became a trusted voice in the online crypto community.
To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi). The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology.
Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K forms, or engaging in thought-provoking discussions about the future of finance.
Sebastian's journey as a crypto analyst and investor has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable asset to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and contributing to the growth of this revolutionary technology.

TL;DR:

Solana’s fast and low cost design positions it as a strong candidate for large scale tokenized finance.
Tokenization of real world assets could drive major institutional adoption across multiple sectors.
Long term infrastructure growth may offer greater value than short term speculative trading.

When asked about the future of blockchain infrastructure, Anthony Scaramucci pointed to Solana as one of the few networks built for lasting relevance rather than short lived speculation. He emphasized that Solana’s speed, low transaction costs, and scalable design position it as a foundation for tokenized finance at global scale. In his view, blockchains that can reliably handle real world financial activity will define the next phase of adoption, and Solana’s architecture was purpose built for that challenge.

Why Solana Could Win the Tokenization Race
Solana’s infrastructure readiness stands out over hype driven competitors. Scaramucci highlighted the network’s high throughput and consistency as key advantages for hosting tokenized assets. These qualities make Solana attractive not only to crypto native builders but also to institutions seeking dependable platforms for digital asset settlement. As more traditional firms explore blockchain finance, infrastructure strength becomes more important than brand momentum or short term price cycles.

Tokenization may unlock massive real world demand across multiple sectors. Scaramucci outlined how assets such as equities, funds, real estate, and private credit could eventually move on chain. In that scenario, Solana’s fast execution and low operational cost give it a practical edge over slower, more congested networks. Tokenized markets require real time settlement, continuous access, and predictable performance, all areas where Solana is designed to excel.

Market structure and on chain behavior suggest growing confidence. Recent stabilization across the Solana ecosystem indicates that participants are no longer driven purely by speculative momentum. Instead, activity increasingly reflects long term positioning around infrastructure, applications, and tokenized use cases. This shift aligns with Scaramucci’s thesis that tokenization represents a structural evolution in finance rather than another short lived narrative cycle.

Long term infrastructure investment outweighs short term trading strategies. Scaramucci stressed that the true opportunity lies not in chasing volatility but in backing platforms positioned to support future financial systems. If Solana captures a leading role in tokenized settlement, early builders and investors may benefit from sustained network growth rather than isolated market rallies. For him, this is not a short term bet, but a strategic allocation into digital financial infrastructure.

While many crypto narratives rise and fade, this outlook centers on adoption, utility, and institutional integration. If tokenized finance expands as expected, Solana’s technical foundation could make it one of the defining blockchains of the next decade.

BlackRock CEO Larry Fink says sovereign wealth funds have been “buying the dip” in bitcoin, underscoring a notable rise in long-term institutional confidence even as the cryptocurrency experienced sharp price swings. Speaking at the New York Times DealBook Summit, Fink revealed that several sovereign wealth funds added to their bitcoin positions as the price dropped to $120,000, $100,000, and even into the $80,000 range. According to Fink, these state-backed investors are not seeking short-term gains — they are building strategic positions designed to be held for years.

While sovereign wealth fund interest in bitcoin is not entirely new — with entities like Abu Dhabi’s Mubadala Investment Company and Luxembourg’s national fund previously disclosing exposure through spot bitcoin ETFs — their willingness to accumulate during recent price declines signals a deeper shift in sentiment. Fink emphasized that these investments reflect a “purpose-driven” approach, aligning bitcoin with long-term hedging strategies rather than speculation.

The comments highlight how institutional adoption of bitcoin continues to evolve, especially among large global investors managing national reserves. Despite ongoing volatility, bitcoin’s appeal as a hedge against inflation, rising government debt, and currency debasement appears to be strengthening. Fink, once a vocal critic of the asset, has become one of its strongest advocates as demand accelerates.

Under his leadership, BlackRock launched the iShares Bitcoin Trust (IBIT), which quickly grew into one of the firm’s most profitable ETFs, attracting billions in inflows since early 2024. The success of IBIT and the increasing involvement of sovereign funds reinforce bitcoin’s expanding role within institutional portfolios.

Fink reiterated his belief that bitcoin holds a significant use case in today’s macroeconomic environment, framing it as a resilient store of value for long-term investors. As sovereign wealth funds continue to accumulate, their participation signals rising global confidence in bitcoin’s future and its potential to act as a safeguard against economic uncertainty.

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Bitwise Chief Investment Officer Matt Hougan is rejecting a growing claim that Strategy could be compelled to sell Bitcoin. He called the premise just flat wrong. His note argues that neither index changes nor market pressure creates a requirement to liquidate the firm’s BTC holdings.

Bitcoin Jitters as MSCI Weighs Strategy
A client note carried the title “No, Virginia, Strategy Is Not Going To Sell Its Bitcoin.”Hougan said two themes have dominated his inbox. Investors have focused on potential MSCI index removal and the idea that such a move could force Strategy to unwind its BTC position.

MSCI is considering excluding digital asset treasury companies from its investable indexes, with a decision due on January 15. JPMorgan recently estimated that a removal could trigger up to $2.8 billion of passive selling of Strategy stock. Hougan said he assigns a 75% chance that the company is removed.

Index changes, in Hougan’s view, often matter less than forecast. He pointed to Strategy’s addition to the Nasdaq-100 last year, which required funds to buy $2.1 billion of shares, yet the price barely moved. He added that the stock’s decline since Oct. 10 likely reflects market pricing in the removal risk and said he does not expect substantial swings either way.

Attention has also shifted to a “doom loop” scenario described by worried investors. That storyline begins with MSCI exclusion driving the stock lower. It then assumes the share price falls well below net asset value. 

He said a discount to net asset value does not force Bitcoin sales. The relevant constraints, he argued, are the company’s actual payment obligations rather than how the stock trades relative to BTC value.

Recent disclosures provided more detail on positioning and liquidity. On Monday, Strategy buys 130 BTC for about $11.7 million at an average price of $89,960 per BTC. Total holdings were reported at 650,000 BTC after the purchase.

BTC Liquidity Build Reduces Sell Pressure
Strategy also outlined how it plans to use that cash buffer. The firm said its current intention is to keep a reserve sufficient to fund at least twelve months of dividends. The company said it plans to grow the reserve over time, with a target of ultimately being able to weather 24 months or more.

Saylor outlined a trajectory that involves BTC sales without diminishing exposure in the long term. The firm can sell overvalued Bitcoin, pay out dividends and still increase its stash of the digital currency over time, he added. The framing was an effort to counteract negative narratives around payout liabilities.

Hougan said the near-term math still does not support liquidation fears. He said $1.4 billion in cash can cover commitments for about a year and a half. He added that the first debt maturity does not arrive until February 2027 .The totals about $1 billion, which he characterized as small relative to the firm’s roughly $60 billion Bitcoin holdings.

Legitimate concerns remain in the market, including slow progress on crypto market structure legislation. He also pointed to the health of smaller digital asset treasury companies. Strategy’s BTC position, he argued, should not be treated as a near-term forced-sale risk, regardless of the MSCI outcome.

On December 4, 2025, Ripple’s cryptocurrency, XRP, saw its price dip to $2.2245, marking a significant pullback from the week’s peak. The token remains approximately 42% below its highest value for the year, which reached $3.6680. This retreat in price occurs as Ripple announces the completion of a substantial acquisition, buying out GTreasury for $1 billion, a move aimed at strengthening its position in the financial technology sector.

Ripple’s acquisition of GTreasury, a company specializing in treasury management solutions, reflects the company’s strategic pivot to expand its services beyond blockchain payments. This move aligns with Ripple’s broader strategy to become a major player in the fintech industry, leveraging GTreasury’s software and expertise to enhance its offerings to corporate clients. The purchase, finalized this week, is expected to integrate GTreasury’s capabilities in cash and risk management with Ripple’s existing blockchain technology, potentially providing more comprehensive solutions for financial institutions.

Historically, XRP has been one of the leading cryptocurrencies, often fluctuating in response to market dynamics and regulatory news. However, its significant price volatility poses both opportunities and risks for investors. The current slowdown in XRP’s rally could be attributed to market participants reassessing the implications of the GTreasury acquisition. While the acquisition demonstrates Ripple’s commitment to growth and diversification, it also raises questions about the integration process and how quickly tangible benefits will be realized.

The cryptocurrency market, notorious for its volatility, often reacts strongly to strategic moves by major players. Ripple’s recent acquisition underscores its ambition to expand its market share and influence in the global financial system. By enhancing its product suite, Ripple aims to provide more robust and integrated solutions to its clients, potentially increasing its adoption by banks and financial institutions. The acquisition may also pave the way for Ripple to explore new markets and customer bases, particularly in regions where treasury management solutions are in high demand.

GTreasury, known for its strong presence in the treasury management space, brings a wealth of experience and technology to Ripple. This acquisition could allow Ripple to offer a wider range of financial services, including more sophisticated solutions for liquidity management and forecasting, a crucial need for many enterprises. With this deal, Ripple is poised to not only enhance its service offerings but also bolster its competitive edge against other fintech and blockchain companies.

Despite the potential benefits, integrating GTreasury’s systems with Ripple’s existing infrastructure presents challenges. The success of this merger will largely depend on how effectively Ripple can incorporate GTreasury’s technology into its own operations. Any delays or complications in this process could impact Ripple’s ability to deliver on its promises, potentially affecting investor confidence and, consequently, XRP’s market performance.

Ripple’s acquisition comes at a time when the fintech industry is undergoing rapid transformation, driven by technological advancements and changing consumer expectations. The global fintech market, valued at billions, is expected to continue growing as more businesses seek digital solutions for their financial needs. Ripple’s move to acquire GTreasury positions it to take advantage of this growth, offering innovative solutions that combine blockchain’s security and transparency with advanced treasury management tools.

Nevertheless, Ripple faces formidable competition from other fintech giants and blockchain startups. Companies like SWIFT, a well-established player in cross-border payments, and newer entrants like Stellar and Ethereum, continually innovate to capture market share. Ripple’s ability to differentiate its offerings through strategic acquisitions like GTreasury will be crucial in maintaining its competitiveness.

Regulatory developments also play a critical role in shaping the future of Ripple and XRP. The crypto industry is no stranger to regulatory scrutiny, and Ripple has previously faced legal challenges, notably with the U.S. Securities and Exchange Commission (SEC). These regulatory pressures could impact Ripple’s operational flexibility and influence investor sentiment, adding another layer of complexity to its strategic initiatives.

The integration of GTreasury could also prompt Ripple to reevaluate its business model, particularly regarding its reliance on XRP as a bridge currency for cross-border transactions. As Ripple expands its service offerings, it may seek to diversify its revenue streams, reducing potential risks associated with cryptocurrency market volatility. This shift could have long-term implications for XRP’s role within Ripple’s ecosystem and its value proposition to users.

In conclusion, while Ripple’s $1 billion acquisition of GTreasury represents a bold step towards expanding its influence in the fintech sector, the success of this move hinges on several factors. Effective integration, competitive differentiation, and regulatory navigation are critical to realizing the benefits of this acquisition. As Ripple continues to evolve, the implications of its strategic decisions will be keenly observed by investors and industry stakeholders. However, as the dust settles on this significant purchase, the immediate attention remains on how Ripple will leverage GTreasury’s expertise to enhance its market position and drive the adoption of its technologies.

As Ripple forges ahead with its ambitions, the cryptocurrency community and financial markets will closely monitor its progress. The true impact of the GTreasury acquisition on Ripple’s operations and XRP’s market dynamics will unfold over time, shaping the future trajectory of one of the most watched players in the blockchain space.

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Acquisition of the Manufacturing Assets and IP from FEA Materials is Expected to Position NioCorp to Produce Master Alloy as Defense and Commercial Market Demand Grows

Once its Elk Creek Critical Minerals Project is Fully Financed and Operational, NioCorp Will be Positioned to Operate a Vertically Integrated Domestic Scandium Mine-to-Markets Supply Chain

NioCorp Also is Examining the Feasibility of Integrating Down to the Production of Finished Aluminum-Scandium Alloy Parts via Casting, Forging and Machining for OEM Manufacturers in Defense and Commercial Markets

CENTENNIAL, CO / ACCESS Newswire / December 4, 2025 / NioCorp Developments Ltd. ("NioCorp" or the "Company") (NASDAQ:NB), a leading U.S. critical minerals developer, is pleased to announce that it has completed the purchase of the manufacturing assets and intellectual property ("IP") of Massachusetts-based FEA Materials LLC ("FEA"), which is expected to enable NioCorp to produce aluminum-scandium ("Al-Sc") master alloy in the U.S. as market demand grows. Once its Nebraska mine and processing facility are fully financed and operational, the acquisition positions NioCorp to establish America's first scandium supply chain that vertically integrates mining, scandium oxide production, and Al-Sc master alloy production for both defense and commercial manufacturers.

NioCorp Advanced Metals and Alloys LLC ("NAMA"), a newly formed subsidiary of NioCorp and its operating company Elk Creek Resources Corp. ("ECRC"), completed the all-cash $8.4 million purchase of FEA's assets and IP on December 4, 2025. FEA has been engaged in the commercial manufacturing of 2% - 4% Al-Sc master alloy via an innovative process that converts scandium oxide directly into Al-Sc master alloy, bypassing the interim step of first converting the oxide into metal before making Al-Sc master alloy.

NioCorp plans to begin mining scandium-containing ore and producing scandium oxide at its Elk Creek Critical Minerals Project in Nebraska as soon as possible, contingent upon final project financing and construction. In addition to scandium, NioCorp also intends to produce niobium and titanium products and, potentially, light and heavy rare earth oxides in Nebraska.

NioCorp is now examining the feasibility of extending its potential domestic scandium supply chain to include production of finished Al-Sc alloy (0.1% - 0.5% scandium content) for sale to Al-Sc powder manufacturers and to support the manufacturing of custom Al-Sc alloy parts that are cast, forged, and/or machined in the U.S.

"This strategic acquisition positions NioCorp to potentially build out America's first vertically integrated U.S. scandium supply chain from the mine to finished alloy parts for both defense and commercial manufacturers," said Mark A. Smith, CEO and Chairman of NioCorp.

"Our scandium alloying technology is the result of strong U.S. ingenuity and engineering and will be a key to helping grow scandium-based structural alloys in the years to come. NioCorp is the best group to pioneer this market with its vertically-integrated strategy," said Eugene Prahin, CEO of FEA Materials.

On August 5, 2025, it was announced that the Pentagon's Title III Program had agreed to provide ECRC with up to $10 million in funding to advance the Elk Creek Critical Minerals Project and to support the production of scandium oxide. (See this announcement). Following that award, ECRC entered into a collaboration with Lockheed Martin on the design, testing, and production of airworthy aluminum-scandium parts for advanced fighter jets and other aerospace platforms. (See this announcement). Finally, the Pentagon award also included funding to allow ECRC to demonstrate the ability to convert scandium oxide into high-purity scandium metal, used in advanced electronics applications for both defense and commercial applications.

"We are extremely grateful for the Pentagon's support in our effort to build out this supply chain, and we are now pleased to invest our own resources to leverage the Pentagon's investment and further build out this U.S. domestic supply chain," Mr. Smith said. "Working jointly with the Pentagon, NioCorp is committed to positioning America to better insulate our nation from years of scandium market and price manipulation by the People's Republic of China, which has held back the development of many scandium-based technologies that would greatly benefit our men and women in uniform."

Mr. Smith also praised Rio Tinto, through its Element 21 North subsidiary, for its production of scandium oxide and Al-Sc master alloy at its facility in Sorel-Tracy, Quebec. "Rio Tinto has served as a commercial pioneer in the development of a North American supply chain and deserves a lot of credit for making scandium available for several developing markets and applications of importance to the U.S."

Prospective U.S. Scandium Mine-to-Markets Supply Chain

The development of a complete U.S. domestic scandium mine-to-markets supply chain is likely to include the following components. NioCorp is examining the feasibility of operating across several portions of this prospective supply chain.

Qualified Persons:

Scott Honan, M.Sc., SME-RM, COO of NioCorp Developments Ltd., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this news release.

# # #

FOR MORE INFORMATION:

Jim Sims, Corporate Communications Officer, NioCorp Developments Ltd., (720) 334-7066, [email protected]

Alex Guthrie, Director, Investor Relations, NioCorp Developments Ltd., (647) 999-0527, [email protected]

@NioCorp $NB #Niobium #Scandium #rareearth #neodymium #dysprosium #terbium #ElkCreek

ABOUT NIOCORP

NioCorp is developing the Elk Creek Project that is expected to produce niobium, scandium, and titanium. The Company also is evaluating the potential to produce several rare earths from the Elk Creek Project. Niobium is used to produce specialty alloys as well as High Strength, Low Alloy steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium is a specialty metal that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium is also a critical component of advanced solid oxide fuel cells. Titanium is used in various lightweight alloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor, and medical implants. Magnetic rare earths, such as neodymium, praseodymium, terbium, and dysprosium are critical to the making of neodymium-iron-boron magnets, which are used across a wide variety of defense and civilian applications.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws (collectively "forward-looking statements"). Forward-looking statements may include, but are not limited to, statements that the acquisition of the manufacturing assets and IP of FEA is expected to enable NioCorp to produce Al-Sc master alloy in the U.S. as market demand grows; NioCorp's ability to establish America's first scandium supply chain that vertically integrates mining, scandium oxide production, and Al-Sc master alloy production for both defense and commercial manufacturers; the Company's plans to mine scandium-containing ore and produce scandium oxide at its Elk Creek Critical Minerals Project; NioCorp's ability to extend its potential domestic scandium supply chain to include production of finished Al-Sc alloy (0.1% - 0.5% scandium content) for sale to Al-Sc powder manufacturers and to support the manufacturing of custom Al-Sc alloy parts that are cast, forged, and/or machined in the U.S.; statements regarding the components of a complete U.S. domestic scandium mine-to-markets supply chain; NioCorp's ability to operate across several portions of this prospective supply chain; the Company's expectation and intention of producing niobium, scandium, and titanium, and the potential of producing rare earths, at the Elk Creek Project; and NioCorp's ability to secure sufficient project financing to complete construction of the Elk Creek Project and move it to commercial operation. Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements are based on the current expectations of the management of NioCorp and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. Forward-looking statements reflect material expectations and assumptions, including, without limitation, expectations and assumptions relating to: NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms, or at all; the future price of and demand for metals, including Al-Sc alloy; and the stability of the financial and capital markets. Such expectations and assumptions are inherently subject to uncertainties and contingencies regarding future events and, as such, are subject to change. Forward-looking statements involve a number of risks, uncertainties or other factors that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made by NioCorp with the Securities and Exchange Commission and with the applicable Canadian securities regulatory authorities and the following: NioCorp's requirement of significant additional capital; NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms, or at all; NioCorp's ability to achieve the required milestones and receive the full $10.0 million in reimbursement under the Project Sub-Agreement with Advanced Technology International, an entity acting on behalf of the Defense Industrial Base Consortium under the authority of the U.S. Department of War; NioCorp's ability to receive a final commitment of financing from the Export-Import Bank of the United States or other debt financing or financial support on acceptable timelines, on acceptable terms, or at all; NioCorp's ability to access the full amount of the expected net proceeds under the standby equity purchase agreement (the "Yorkville Equity Facility Financing Agreement") with YA II PN, Ltd., an investment fund managed by Yorkville Advisors Global, LP; NioCorp's ability to continue to meet the listing standards of The Nasdaq Stock Market LLC; risks relating to NioCorp's common shares, including price volatility, lack of dividend payments and dilution or the perception of the likelihood of any of the foregoing; the extent to which NioCorp's level of indebtedness and/or the terms contained in agreements governing NioCorp's indebtedness, if any, the Yorkville Equity Facility Financing Agreement or other agreements may impair NioCorp's ability to obtain additional financing, on acceptable terms, or at all; covenants contained in agreements with NioCorp's secured creditors that may affect its assets; NioCorp's limited operating history; NioCorp's history of losses; the material weaknesses in NioCorp's internal control over financial reporting, NioCorp's efforts to remediate such material weaknesses and the timing of remediation; the possibility that NioCorp may qualify as a passive foreign investment company under the U.S. Internal Revenue Code of 1986, as amended (the "Code"); the potential that the business combination with GX Acquisition Corp. II and other related transactions could result in NioCorp becoming subject to materially adverse U.S. federal income tax consequences as a result of the application of Section 7874 and related sections of the Code; cost increases for NioCorp's exploration and, if warranted, development projects; a disruption in, or failure of, NioCorp's information technology systems, including those related to cybersecurity; equipment and supply shortages; variations in the market demand for, and prices of, niobium, scandium, titanium and rare earth products; current and future offtake agreements, joint ventures, and partnerships, including NioCorp's ability to negotiate extensions to existing agreements or to enter into new agreements, on favorable terms or at all; NioCorp's ability to attract qualified management; estimates of mineral resources and reserves; mineral exploration and production activities; feasibility study results; the results of metallurgical testing; the results of technological research; changes in demand for and price of commodities (such as fuel and electricity) and currencies; competition in the mining industry; changes or disruptions in the securities markets; legislative, political or economic developments, including changes in federal and/or state laws that may significantly affect the mining and scandium alloy industries; trade policies and tensions, including tariffs; inflationary pressures; the impacts of climate change, as well as actions taken or required by governments related to strengthening resilience in the face of potential impacts from climate change; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the timing and reliability of sampling and assay data; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of NioCorp's projects; risks of accidents, equipment breakdowns, and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining, development or scandium alloy production activities; management of the water balance at the Elk Creek Project site; land reclamation requirements related to the Elk Creek Project; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; claims on the title to NioCorp's properties; [the infringement or loss of NioCorp's intellectual property rights;] potential future litigation; and NioCorp's lack of insurance covering all of NioCorp's operations.

Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of NioCorp prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.

All subsequent written and oral forward-looking statements concerning the matters addressed herein and attributable to NioCorp or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Except to the extent required by applicable law or regulation, NioCorp undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.

SOURCE: NioCorp Developments Ltd.

COLUMBUS, Ga.--(BUSINESS WIRE)--Synovus announces quarterly dividends.

U.S.-based spot XRP exchange-traded funds are surging, recording 13 consecutive days of net inflows and nearing the $1 billion mark in less than a month.

Summary

XRP ETFs made a strong debut, following trends seen across other crypto ETFs.
Investors are seemingly curious about diversifying beyond established crypto leaders.
XRP ETFs appear poised to cross the $1 billion milestone imminently.

Since launching on Nov. 14, spot XRP ETFs have attracted steady investment, according to CoinDesk. These funds drew $50.27 million in net new capital on Wednesday alone.

That brings cumulative net inflows to $874.28 million, with a total trading volume of $31.53 million for the day, according to data from SoSo Value.

The ETF inflow streak positions XRP among the fastest-growing crypto-asset vehicles, highlighting growing liquidity and acceptance in traditional markets.

Why it matters
XRP’s strong debut follows trends seen across other crypto ETFs. Spot Solana ETFs have accumulated more than $600 million since their recent launch, despite occasional outflows.

Meanwhile, the far older spot Bitcoin and Ether ETFs continue to dominate, with BTC funds drawing nearly $58 billion and ETH vehicles $13 billion in total assets under management, according to Farside data.

The robust performance of XRP ETFs demonstrates that investors are willing to diversify beyond established crypto leaders, and may signal further interest in newer digital assets within traditional investment frameworks.

As inflows continue, XRP ETFs appear poised to cross the $1 billion milestone imminently, cementing their status as one of the fastest-growing crypto-asset instruments in U.S. markets.

Bitcoin critic Peter Schiff admitted blockchain improves gold's monetary properties while maintaining his crypto skepticism in debate with CZ.

Whales bought 4.73M LINK in 48 hours as the price rebounds and ETF inflows grow. Analysts eye $16 short-term, $100+ in the long run.

Chainlink (LINK) has seen a sharp rise in whale accumulation over the past two days. This increase in whale buying, paired with improving technical conditions and a new ETF listing, has shifted short-term sentiment around the asset.

Large Holders Accumulate as Price Recovers
Over a 48-hour window, wallets holding between 100,000 and 1 million LINK picked up roughly 4.73 million tokens, according to on-chain data shared by analyst Ali Martinez. The total balance of these wallets rose from about 155 million to 159.47 million LINK. This accumulation followed several weeks of flat or declining holdings through most of November.

4.73 million Chainlink $LINK bought by whales in 48 hours! pic.twitter.com/5Q5IDivpxh

— Ali (@ali_charts) December 3, 2025

During that same period, LINK’s price fell from over $16.50 to just above $12. The new round of whale buying appeared to coincide with a price rebound to around $15 at press time, showing a possible shift in short-term momentum.

Last month, large wallets offloaded over 31 million LINK, as CryptoPotato reported. The recent change in behavior suggests renewed positioning by long-term holders.

Meanwhile, recent exchange data shows LINK continues to move into self-custody. CryptoQuant reports that fewer than 130 million tokens remain on centralized platforms. This level is near the 44-month low set in early December and suggests lighter near-term selling pressure.

Adding to the recent momentum, the newly launched Grayscale Chainlink Trust (GLNK) began trading on NYSE Arca last week. The ETF, which was converted from a closed-end fund, recorded $37 million in inflows on launch day and an additional $3.84 million (on December 3). Current assets under management stand at approximately $67.55 million, according to SoSoValue.

You may also like:

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Selling Pressure Dominates Chainlink (LINK), But Here’s Why It Might Actually Be a Bullish Signal

Chainlink (LINK) Total Net Inflows 04.12. Source: SoSoValue
Technical Outlook Eyes Higher Levels
Analyst CryptoWZRD noted that LINK’s daily chart closed strong, with LINKBTC nearing a trendline breakout. Key levels to watch include resistance at $16 and support at $12.

“A breakout of this trendline will trigger very quick upside momentum,” he said.

On the intraday chart, LINK is trading near $15.20. A breakout could push the price toward $16.90, while rejection at that level may lead to sideways action. The next lower support is around $13.50.

In the broader trend, analyst CW shared a long-range chart showing LINK within a rising channel that has guided price movement for several years. LINK is currently sitting near the lower boundary of this channel, which has historically acted as support during previous cycles.

According to CW,

“In this cycle, LINK will reach the middle of the upper channel.”

That midline aligns with the $100 to $120 zone, based on the long-term trend.

Tags:

Build On Bitcoin (BOB), a Bitcoin Defi crypto token, delivered a dramatic surge today, printing what traders often call a “God candle” after rocketing more than 100% in a day. 

While the rally may seem compelling at first glance, a closer look at the token’s underlying fundamentals raises serious concerns that investors should not ignore.

Build On Bitcoin Presents ConcernsAcross social platforms, BOB is being labeled a major “red flag” due to structural risks in its token distribution. Data from Go Plus Security reveals that the top 10 holders control more than 93% of the entire BOB supply. Such extreme concentration is often associated with manipulation risks, where a small number of wallets can dictate market direction.

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Another critical issue is that 100% of BOB’s liquidity pool remains unlocked, exposing the project to potential rug-pull scenarios. When liquidity is not locked, malicious actors can drain the pool instantly, leaving retail traders with worthless tokens. These red flags align with common traits found in scam tokens, making BOB an asset that demands heavy scrutiny before entry.

Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

Build On Bitcoin Top 10 Holders. Source: Go PlusTechnically, BOB’s recent performance looks even more troubling. The Chaikin Money Flow (CMF) indicator shows consistent outflows for several days, signaling that capital is leaving the ecosystem despite the price spike. This divergence suggests the rally is driven mainly by hype and thin liquidity rather than genuine demand.

A 107% daily surge without supportive inflows typically points to speculative behavior that can reverse sharply. The absence of real buying pressure to sustain higher levels increases the probability of a steep correction. Momentum without capital support rarely lasts long in DeFi markets.

BOB CMF. Source: TradingViewBOB Price Dips SharplyBOB recently hit a new all-time high of $0.0294 during today’s surge before pulling back nearly 15%, highlighting volatility concerns. The token is holding above the $0.0238 support, but the likelihood of maintaining this level is low given the weak fundamentals and speculative nature of the rally.

If sentiment shifts and holders begin exiting, BOB could slide quickly toward $0.0195, with a deeper drop to $0.0146 possible as liquidity dries up. Such levels would erase much of the recent gains.

BOB Price Analysis. Source: TradingViewHowever, if fundamentals improve and real investor support emerges, BOB might attempt a rebound toward its $0.0294 ATH and potentially break above $0.0320. This would invalidate the bearish outlook.

Beyond institutionalizing crypto assets, 2025 has shaped up to be a bullish year for bringing blockchain use-cases into the mainstream. Think integration into the payments market or partnerships with financial firms.

No surprise that L1s are racing to grab adoption. Developer activity has jumped this year, too. On-chain metrics show total monthly active developers at 30,000, with a double-digit increase in full-time devs.

Among the top chains, Ethereum [ETH] leads with 3,778 full-time devs, while Solana [SOL] ranks second with 1,276. That said, with ETH’s Fusaka upgrade making headlines, SOL isn’t exactly standing still either.

Revolut partnership highlights Solana’s real-world use case
The payments market has been the hotspot for use-cases this year.

Take Ripple [XRP], for example. It’s been signing big partnerships with firms, promising near-instant transactions. With McKinsey projecting this sector to hit $3 trillion by 2029, these moves make perfect sense.

Consequently, more L1s are now jumping into the space, with DeFi becoming a meaningful revenue engine. Solana is no exception. Its recent partnership with Revolut has pushed it into the payments ecosystem.

Source: X

For context, Revolut is Europe’s leading neobank, with over 65 million users and 15 million crypto accounts. By integrating with Solana, Revolut users can now move crypto more cost-effectively across SOL rails.

From a strategic standpoint, this move highlights Solana’s “real” use case in banking, showing off its on-chain strengths: High throughput, low fees, high TPS, and larger block limits.

However, the timing is interesting too. It’s been less than 48 hours since Ethereum’s Fusaka upgrade went live. In this context, is the Solana–Revolut partnership really just a coincidence?

Solana widens its usage lead as Ethereum levels up
Ethereum upgrades have historically boosted its on-chain usability.

The post-Pectra rally showed up both in price action and on-chain activity. Notably, we’re seeing a similar response with Fusaka as well.

It’s still early for meaningful conclusions, but the pre-upgrade buildup is already visible.

On-chain data shows Ethereum’s 7-day moving average of transactions jumping by 180k in the final week of November. Solana, meanwhile, continues to hold its lead with 74 million non-vote transactions.

Source: The Block

In essence, even with two major back-to-back upgrades for Ethereum in 2025, Solana is still handling about 47× more daily transactions, underscoring its “relatively” stronger network fundamentals.

Seen in that light, the Solana–Revolut partnership feels like more than a coincidence. Instead, it reflects Solana’s growing credibility and the confidence major fintech players now place in its performance.

However, this divergence still isn’t showing up in price action. So does that make SOL undervalued compared to ETH? And with Ethereum’s Fusaka upgrade now live, is this gap only set to grow as we head into 2026?

2026 outlook: SOL’s fundamentals vs. ETH valuation
2025 has also brought a key valuation question back into the spotlight.

Solana and Ethereum sit right at the center of it. Both chains have strong use cases, solid on-chain fundamentals, and active communities. And yet, ETH still holds a clear valuation edge over SOL.

The SOL/ETH ratio makes this gap obvious. The pair is down around 20% this year, marking its weakest annual stretch since the 2022 bear market, when the ratio saw a staggering 80%+ pullback.

Source: TradingView (SOL/ETH)

Heading into 2026, this divergence looks set to take center stage.

As noted earlier, Solana’s recent string of bullish events (like ETF launches and key partnerships) is being driven by its strengthening fundamentals, showing a network that’s scaling faster than the market seems to realize.

That said, next year could finally see this gap start to close. 

With Solana’s Alpenglow upgrade set for Q1 2026, it might be the chain’s defining moment, kicking off a valuation cycle that better reflects its on-chain performance and growing adoption versus Ethereum.

Final Thoughts

Solana’s growing on-chain fundamentals and key partnerships (like Revolut) highlight its scaling potential.
The SOL/ETH divergence, coupled with the upcoming Alpenglow upgrade in Q1 2026, may mark a pivotal moment for Solana’s valuation.

Grayscale’s conversion of its legacy Chainlink trust into the GLNK exchange-traded product on Dec. 2 did more than simply add another ticker to the NYSE Arca board.

With roughly $13 million in day-one trading volume, $41 million in immediate inflows, and assets climbing to approximately $64 million within the first 48 hours, GLNK entered the market distinct from the speculative alt-coin listings that characterized much of the previous cycle.

Grayscale Chainlink ETF Daily Inflows Since Launch on Dec. 2 (Source: SoSo Value)Instead, it arrived as the first US financial product offering direct exposure to the Oracle infrastructure layer. This layer functions as the digital plumbing required to make blockchain networks usable for real-world finance.

However, beneath the strong headline flows a complex wager. By packaging a utility token into a regulated equity wrapper, Grayscale has forced institutional investors to confront a difficult question: Does the inevitable growth of tokenized finance actually necessitate an increase in the price of the LINK token?

GLNK is structured under NYSE Arca Rule 8.201-E as a physically backed commodity product, holding LINK as its sole asset. It debuted with a temporary 0% fee, which is a standard seeding mechanism for this year’s ETF launches, before a scheduled shift to 0.35% once the vehicle reaches early March or $1 billion in assets.

This aggressive pricing strategy, undercutting legacy trusts that often charged upward of 2 percent, positions the product to attract allocators who view blockchain not as a casino, but as a software upgrade for global markets.

The tokenization thesisGLNK’s launch came at a time when tokenization had transitioned from a back-end experiment to a boardroom priority.

A recent op-ed by BlackRock’s Larry Fink and Rob Goldstein in The Economist framed tokenized settlement as the inevitable next evolution in market infrastructure.

This aligns with forecasts from BCG and ADDX, which place the total value of tokenized private assets at nearly $16 trillion by 2030, and Citi’s revised base case, which projects up to $1.9 trillion in stablecoin circulation by the end of the decade.

In this macroeconomic backdrop, GLNK pitches itself less as a bet on a cryptocurrency and more as a picks-and-shovels play on the migration of financial data onto public networks.

Zach Pandl, Grayscale’s head of research, said:

“I believe Chainlink will make the tokenization vision a reality.”

Chainlink’s network, which reports securing over $100 billion in total value and maintains a dominant 70% market share in decentralized finance (DeFi), is the theoretical beneficiary of this migration.

ChainLink’s Total Transaction Enabled (Source: ChainLink)Major financial institutions are currently using Oracle blockchain’s Cross-Chain Interoperability Protocol (CCIP) to transfer value between private bank ledgers and public blockchains.

Yet a critical disconnect persists between the technology’s adoption and the token’s economics, as sophisticated allocators are wary of the “velocity problem.”

While banks may use Chainlink’s infrastructure for data attestation or proof-of-reserves, it is not guaranteed that these institutions will hold LINK on their balance sheets. If transaction fees are paid in fiat or if the token is acquired and immediately burned for service, the velocity of money could suppress price appreciation even as usage explodes.

Furthermore, the threat of private innovation looms. For context, JPMorgan’s Onyx and other proprietary bank chains may develop internal Oracle solutions that bypass public middleware entirely.

GLNK’s flows, therefore, are not just a measure of enthusiasm for crypto; they are a market-readable gauge of investor confidence that public, decentralized middleware will become the standard over private, walled gardens.

The mechanics of accessFor Registered Investment Advisors (RIAs) and multi-asset managers, participating in this infrastructure thesis has historically been operationally impossible.

Historically, these firms have stayed away from on-chain crypto interactions and private key management due to the complexities of the emerging industry.

GLNK effectively solves the access problem. With Coinbase Custody providing segregated, auditable cold storage and NYSE Arca providing daily liquidity, the product transforms an on-chain thesis into a broker-dealer compatible line item.

However, this convenience introduces a significant “cost of carry” that defines the product’s risk profile.

Unlike Ethereum or Solana, where the native asset generates yield through staking-based consensus, GLNK does not currently pass staking rewards through to investors.

In the native crypto market, LINK holders can stake their tokens to secure the network and earn a return, currently acting as a hedge against inflation. Inside the ETF wrapper, that yield is stripped away.

In a macroeconomic environment where the risk-free rate remains material, holding a non-yielding asset that charges a management fee (eventually 0.35%) creates a distinct drag on performance.

Investors are essentially paying a premium for regulatory safety. This dynamic mirrors the early days of gold ETFs, where investors accepted storage costs for the ease of access.

Still, it places a heavier burden on the underlying asset’s capital appreciation.

For GLNK to be a viable portfolio component, the appreciation of the LINK token must outpace not only the management fee but also the opportunity cost of holding yielding treasuries or staking-enabled crypto assets.

Moreover, the regulatory architecture underpinning GLNK may prove to be its most durable feature.

The use of NYSE Arca Rule 8.201-E, typically reserved for physically backed commodity ETPs, provides a level of consistency that market makers favor. It simplifies the creation and redemption process, allowing authorized participants to hedge their books efficiently and keep spreads tight.

This structure also clarifies the competitive landscape.

While other oracle networks like the Solana-based Pyth offer similar technological utility, they lack the regulated bridge that Chainlink has now established.

By clearing the regulatory hurdles first, Grayscale has created a moat. For an institutional allocator, the difference between “technologically superior” and “regulatorily accessible” is often the difference between passing and investing.

What does the future hold for GLNKDespite these structural headwinds, the early market response suggests a hunger for thematic diversification.

Industry stakeholders have described the initial trading volume as robust for a single-asset debut, specifically noting that on a market-cap-adjusted basis, GLNK outperformed several other 2025 alt-coin listings.

This contrasts with the subdued launch of the Dogecoin ETP, highlighting an emerging institutional preference: capital is flowing toward infrastructure linked to real economic integrations, rather than tokens driven primarily by retail sentiment or meme mechanics.

Considering this, CryptoSlate’s analysis, based on comparable thematic ETF launches, suggests a base-case scenario in which GLNK accumulates between $150 million and $300 million in assets under management (AUM) by mid-2026.

This projection assumes a “spillover rate” where a small fraction of capital allocated to Bitcoin and Ethereum products rotates into high-conviction infrastructure plays during quarterly rebalancing cycles.

ScenarioAUM Range (Mid-2026)Midpoint (USD Millions)Bear$75m – $125m$100 millionBase$150m – $300m$225 millionBull$400m – $600m$500 millionA bull case, potentially reaching $400 million to $600 million, relies on a successful narrative conversion. However, this would require tangible announcements from major financial institutions that move from CCIP pilots to full commercial production using the LINK token.

Conversely, a bear scenario of $75 million to $125 million remains plausible if the “private chain” thesis gains traction, or if diversified multi-asset crypto indices begin to absorb the demand for oracle exposure, rendering single-asset products less attractive.

Mentioned in this article

Nasdaq-listed TON token treasury firm AlphaTON Capital Corp (ticker ATON) has filed for $420.69 million shelf registration with the U.S. Securities and Exchange Commission, according to an announcement on Thursday.

The funding — an amount reminiscent of FTX’s infamous “meme round” — will help finance AlphaTON’s “ambitious expansion” of AI and high-performance computing infrastructure to power Telegram's Cocoon AI network and the firm’s M&A strategy targeting “revenue-producing companies within the Telegram ecosystem.”

According to the announcement, AlphaTON was previously constrained by the SEC’s “baby shelf rules,” designed to limit how much smaller public companies can sell "off the shelf" using a Form S-3 shelf registration statement, a popular means of funding used by digital asset treasuries (DAT).

"Exiting the SEC’s ‘baby-shelf’ limitations on raising capital marks an important milestone in AlphaTON Capital's transformation into a leading infrastructure provider for the next generation of decentralized AI," CEO Brittany Kaiser said. "Once effective, this shelf registration statement gives us the financing flexibility to move quickly and decisively on transformational opportunities.”

AlphaTON noted it has already identified several “high-potential acquisition targets,” including startups focused on payments, content distribution, and blockchain-enabled services within The Open Network ecosystem. The capital will also go towards building AlphaTON’s treasury of TON tokens and “other associated digital assets.”

Other DATs are also looking to expand their operations via infrastructure services and acquisitions as the appetite for public crypto holders appears to be cooling down. In November, as the treasury firm’s mNAV compressed, AlphaTON said it shifted most of its balance sheet into Toncoin and staking positions while exploring additional expansion opportunities.

For instance, the company amended its deal to acquire 60% of mobile gaming platform GAMEE for $15 million, with plans to acquire up to $4 million GMEE and Watcoin tokens on the open market. It also plans to launch a co-branded TON Mastercard in December through a partnership with PagoPay and ALT5 Sigma.

Cocoon, or Telegram's Confidential Compute Open Network, is a decentralized AI compute platform developed by Telegram and built on the TON blockchain. The network, which officially launched just days ago, pays users in Toncoin for renting out their GPUs to process user queries. AlphaTON announced on Monday that it has deployed a fleet of Nvidia B200 GPUs to Cocoon, "adding a new revenue stream to its business."

Community support
The Open Network is one of several community-led projects to spring up after Telegram officially abandoned development of its bespoke Layer 1 amid SEC legal pressure over Telegram’s $1.7 billion initial coin offering. The high-performance blockchain is designed for easy integration with the popular Telegram Messenger app. 

TON has emerged as one of the most popular blockchains for actual users and venture capital investors. The chain has become particularly popular for its “mini app” games, like "Notcoin" and "Hamster Kombat,” which allegedly found an audience of millions of users. 

Earlier this year, The Open Network Foundation, or TON Foundation, said a group of VCs, including Benchmark, CoinFund, Draper Associates, Sequoia Capital, and Skybridge, among other notable names, invested over $400 million in the Toncoin cryptocurrency. Coinbase Ventures is also reportedly a stakeholder in TON. 

Many of these investors participated in an extended Series A led by Ribbit Capital for The Open Platform, developer of the chain, bringing its total funding to $70 million. 

AlphaTON kicked off its TON treasury program in September after closing a $36.2 million private placement and securing a $35 million loan facility from BitGo Prime. The firm said it aimed to purchase approximately $100 million worth of TON tokens and invest in the mini app ecosystem. 

BitGo, Animoca Brands, Kraken, and SkyBridge are all advisors to AlphaTON.

At the height of TON’s popularity, the token cracked into the top 10 token market cap rankings at an all-time high price of $8.25. However, the token has since fallen nearly 80%, and is currently trading at $1.80, placing it at the 40th-largest token by market cap, according to The Block's Toncoin price page.

ATON closed Thursday up over 7.5% and is currently trading hands at $1.71. 

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.