Market Signal Briefing

BOSTON--(BUSINESS WIRE)--Rick Tyson is announced as a Senior Vice President, Wealth Relationship Manager with Cambridge Trust Wealth Management, a Division of Eastern Bank. Mr. Tyson brings more than 25 years of experience in integrated wealth management services and client relationship development across private banking, wealth planning strategies, investment management and philanthropic services. “We are thrilled to welcome Rick Tyson to our Wealth Management team,” said Jeffrey Smith, CFP®,.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in MLKN over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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

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Magnificent Seven stocks have been some of the most successful growth stocks and make up a large portion of the S&P 500. However, all of those same stocks have valuations above $1 trillion, which makes it harder for those same stocks to double, triple, or 10x from current levels.

That’s why some investors are seeking smaller growth stocks that are posting impressive revenue growth. These stocks have the potential to outperform the Magnificent Seven stocks in 2026 and receive more attention from investors.

Nebius (NBIS)
Nebius (NASDAQ:NBIS) offers full-stack cloud infrastructure for AI giants like Microsoft (NASDAQ:MSFT) and Meta Platforms (NASDAQ:META). This service will become more valuable as tech giants invest more in the physical infrastructure that’s necessary for AI workloads. The company recently announced a 5-year deal with Meta Platforms for $3 billion, and the recurring revenue from these contracts can lead to significant stock gains.

Nebius is aiming for 2.5 gigawatts of active power by the end of 2026. The 5-year, $19.4 billion deal with Microsoft takes up 300 megawatts, so the company can support plenty of deals like its ones with Microsoft and Meta Platforms. Nebius anticipates annual recurring revenue of $7 billion to $9 billion by the end of 2026.

Nebius also owns stakes in several AI businesses, such as autonomous vehicle company Avride and edtech firm Tripleten. The company’s additional megawatts of energy will become available at the right time as it continues to ride the AI wave.

Palantir Technologies (PLTR)
Palantir (NASDAQ:PLTR) is another AI stock that has outperformed the S&P 500 this year. It has an annual recurring revenue model and continues to sign lucrative deals for its AI software. Palantir shares are up by 147% this year and have surged by more than 600% over the past five years.

The company secured 204 deals of more than $1 million in Q3, with 53 deals exceeding $10 million. A growing portion of those deals came from U.S. businesses. Palantir saw a 121% year-over-year increase in its U.S. commercial revenue. That segment contributed to 63% year-over-year revenue growth across the entire business.

Palantir is a key part of the AI backbone that lets governments and businesses create custom AI agents. The switching costs are immense for any customer who wants to abandon Palantir since it doesn’t have much competition, which makes it easier for the AI software giant to boost its annual recurring revenue each year. High revenue growth also came with net profit margins more than tripling year-over-year. The company closed out Q3 with a superb 40.3% net profit margin.

Walmart (WMT)
Walmart (NASDAQ:WMT) has AI bots in its warehouses that boost efficiency, but most of the company’s success comes from more than 10,000 retail locations. Walmart’s scale makes it easy for the company to offer low prices and quick delivery times that make it difficult for competitors to keep up.

The stock outperformed the S&P 500 and most Magnificent Seven stocks this year with a 29% gain. Its Q3 FY26 results suggest that the gains may continue in 2026. Walmart delivered 5.8% year-over-year revenue growth, with its e-commerce segment up by 27% year-over-year. Rising e-commerce sales can also boost the company’s ad revenue since customers will spend more time on Walmart’s websites.

Online ads are a key piece of Walmart’s profit margin expansion. It’s still a small part of the business, but it’s up by 53% year-over-year. Walmart’s net profit margin improved by 26.7% and reached 3.4%. One of Walmart’s weaknesses is its low margins, but online ads can become a solution over time and push the retailer to a $1 trillion valuation in 2026.

Calgary, Alberta--(Newsfile Corp. - December 18, 2025) - Comprehensive Healthcare Systems Inc. (TSXV: CHS) (the "Company" or "CHS"), an industry leader in healthcare benefits administration software and services, is pleased to announce the signing of a five-year contract with Amalgamated Employee Benefits Administrators and Amalgamated Life Insurance Company, (Amalgamated) providers of life and health insurance solutions along with delivering health insurance and pension benefits administration in the Taft Hartley Multi-Employer Union space, to deploy its advanced administration platform across the organization's pension and employee benefits operations.

The agreement was signed on December 16th, 2025 and expected started date is immediately upon signing.

The signing of this agreement will result in a significant increase in the Company's current revenue, approximately 25% on an annualized basis over the course of the contract. The Company expects the direct cost associated to fulfil this contract will be in the line with its historical average.

Under this agreement, CHS will deliver a comprehensive solution that unifies pension plan management, benefits enrollment, claims processing, compliance tracking, and advanced analytics in a single, cloud-based platform. The system is designed to streamline administrative workflows, improve participant experience, and support sustained growth across multi-employer and union-based health and pension plans.

"This five-year partnership marks a defining moment for Comprehensive Healthcare Systems and for the future of Taft-Hartley health and pension benefits administration, as our battle-tested Novus360 platform is deployed with one of the largest and most respected administrators in the multiemployer union space. This could significantly expand the reach of a solution that has already proven itself with union clients across the U.S.," said Chris Cosgrove, CEO of Comprehensive Healthcare Systems

"By unifying health and pension administration on a single, modern, member-first system, this agreement could set a new benchmark for eliminating outdated silos, delivering real-time transparency for members and trustees, and driving measurable cost savings and efficiency at enterprise scale."

"Our platform's robust capabilities and scalability align perfectly with the evolving administrative demands facing TPA's that manage diverse health and pension programs, and this milestone reinforces our commitment to delivering technology that simplifies administration, enhances member service, and helps administrators achieve measurable operational value."

"We are proud to be the trusted technology partner supporting our client's continued digital evolution and advancing innovation across the Taft-Hartley benefits market," stated Mr. Cosgrove.

Amalgamated reinforced this sentiment, highlighting the strategic importance of the collaboration. "We selected Comprehensive Healthcare Systems after an extensive evaluation process because of their depth of expertise in both pension and health benefits administration," said Sanjay Chojar, SVP and Chief Information Officer of Amalgamated. "The Novus360 platform stood out for its flexibility and integration capabilities within complex environments. This partnership will enable us to elevate our administrative service delivery and better serve our employer groups and participants."

CHS's solution includes data-driven analytics, automated workflows and secure cloud infrastructure to streamline plan administration while ensuring regulatory compliance and accuracy.

This five-year agreement reinforces CHS's position as a trusted technology partner for health and pension benefits administrators seeking scalable, integrated solutions, and continues to diversify the company's client base into new market segments and broaden its footprint across the healthcare and employee benefits ecosystem.

About Amalgamated Life Insurance Company and Amalgamated Employee Benefits Administrators, part of the Amalgamated Family of Companies

Founded in 1943, Amalgamated Life Insurance Company has since grown into a leading provider of comprehensive insurance solutions operating in all 50 states and the District of Columbia. The Company provides competitive group products including Term Life, Medical Stop Loss, Disability and Specialty Drug Cost Management, as well as voluntary products such as Accident, Accidental Death & Dismemberment, Critical Illness, Dental, Disability, ID Theft, Legal, Portable Term Life and Whole Life, among others.

Since 1975, Amalgamated Life Insurance Company has consistently earned the "A" (Excellent) Rating from A.M. Best Company attesting to its strong fiscal position and claims paying abilities. The Company is a member of the Amalgamated Family of Companies; which includes: a third-party administrator, Amalgamated Employee Benefits Administrators; Amalgamated Medical Care Management, a medical care management firm; Amalgamated Agency, a property and casualty broker; and AliGraphics, a printing firm.

About Comprehensive Healthcare Systems Inc.

Comprehensive Healthcare Systems Inc. is a corporation incorporated under the laws of the Province of Alberta and is the parent company of Comprehensive Healthcare Systems Inc. (Delaware). The Company is a vertically integrated software as a services (SaaS) company focused on digitizing healthcare with Healthcare Benefits Administration solutions, providing reliable and high-volume transaction-capable systems. The Company's state-of-the-art Novus 360 Healthcare Welfare and Benefits Administration (HWBA) SaaS platform is used by clients for all aspects of healthcare benefits administration (including self-funded employers, providers, and labor unions), providing healthcare administrative software and technology-enabled services.

FORWARD-LOOKING INFORMATION:

The press release contains "forward-looking statements within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: "anticipate", "intend", "plan", "budget", "believe", "project", "estimate", "expect", "scheduled", "forecast", "strategy", "future", "likely", "may", "to be", "could", "would", "should", "will" and similar references to future periods or the negative or comparable terminology, as well as terms usually used in the future and conditional. These forward-looking statements are based on assumptions as of the date they are provided. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

Additionally, there are known and unknown risk factors that could cause the Company's actual results and financial conditions to differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important risk factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements, include among others: general economic, market and business conditions in Canada and globally; market volatility; unforeseen delays in timelines for any of the transactions or events described in this press release; and the risk of regulatory changes that may impact the business of the Company. All forward-looking information is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking statement or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278553

Source: Comprehensive Healthcare Systems Inc.

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The Zacks Real Estate – Development industry faces ongoing challenges like macroeconomic uncertainty and geopolitical instability. These factors are likely to drive up material expenses and uphold high real estate prices. Sales activity is expected to stay subdued in the near future until there is a recovery in macroeconomic conditions.

However, healthy demand across several real estate property categories, along with a slowdown in the pace of new deliveries, is anticipated to support the industry, thereby placing companies like Howard Hughes Holdings Inc. (HHH - Free Report) and Sky Harbour Group Corporation (SKYH - Free Report) in a strong position for growth.

About the Industry
The Zacks Real Estate – Development industry comprises companies primarily engaged in owning, developing and managing a variety of real estate properties, including commercial, residential and mixed-use parcels. While some developers undertake construction on their land holdings to eventually sell the properties to homebuilders, retaining the same for conducting operations is also a common practice. Some industry participants actively undertake strategic activities, such as infrastructure improvement, along with land planning and development, to boost economic growth, attract quality job creators and diversify the regions in which the firms operate. These firms provide real estate leasing, stewardship, underwriting, planning and entitlement services. Real estate development companies are chiefly classified as financial ones, not construction firms.

What's Shaping the Future of the Real Estate Development Industry?
Macroeconomic Uncertainty Woes Linger: Tariff-related issues are expected to weigh on the industry’s growth in the near term. Recent shifts in tariff polices and trade negotiations with other countries are likely to increase the cost of certain imported goods and raw materials. This heightened cost pressure contributes to investors’ skepticism regarding the broader economic outlook. Furthermore, companies that rely on complex international supply chains and employ diverse, global workforces face increasingly multifaceted challenges. These challenges stem not only from evolving trade agreements but also from tightening immigration policies and shifting diplomatic relations, which collectively introduce new compliance requirements and operational risks. Amid such issues, clients are likely to adopt a cautious approach. As a result, investors’ desire for greater price discovery will continue to cause a delay in the closing timeline for transactions.

Geopolitical Instability to Affect the Industry: Geopolitical instability is expected to influence the performance of the industry. Ongoing conflicts in regions such as Eastern Europe and the Middle East have disrupted the global trade flows, affected commodity prices and intensified supply-chain bottlenecks, particularly in critical sectors like energy, semiconductors, and agriculture. These disruptions have contributed to sustained inflationary pressures, challenging the Federal Reserve’s efforts to stabilize prices without jeopardizing growth. Additionally, several capital sources are tightening their underwriting practices, reducing credit availability. As a result, businesses are delaying investments and consumers are reducing major purchases, dampening overall industrial output. In the near term, sales activity is expected to remain subdued until geopolitical tensions ease and macroeconomic confidence resumes.

Demand Revival for Certain Asset Classes and Constrained Supply Helps Industry Fundamentals: Demand for certain real estate categories, such as retail, industrial, logistics, data center, and office, is witnessing healthy growth. The increase in consumers' preference for in-person shopping following the pandemic is driving demand for retail real estate in high-traffic areas, prompting retailers to expand to fulfill this demand. Meanwhile, the e-commerce boom and supply-chain strategy transformations are driving growth in the industrial and logistics real estate space. With growth in cloud computing, Internet of Things and Big Data, and an increasing number of companies opting for third-party IT infrastructure, data-center companies are experiencing a booming market. The office REITs are experiencing an increase in the number of tenants returning to offices or announcing plans to do so. This is likely to support office real estate market fundamentals. Moreover, the residential market is experiencing a significant shortage of new homes as a result of more than a decade of under-building in comparison to population growth. The retail real estate market is also going through supply shortages, which is helping the industry fundamentals. Hence, the rebound in demand for certain real estate categories and supply shortage are likely to play a role in maintaining favorable industry fundamentals.

Zacks Industry Rank Indicates Bleak Prospects
The Zacks Real Estate Development industry is housed within the broader Zacks Finance sector. It carries a Zacks Industry Rank #173, which places it in the bottom 28% of 243 Zacks industries.

The group’s Zacks Industry Rank, which is the average of the Zacks Rank of all the member stocks, indicates dim near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than two to one.

The industry’s positioning in the bottom 50% of the Zacks-ranked industries is a result of the southbound earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are losing confidence in this group’s earnings growth potential. For 2025, the industry’s earnings estimates have moved 23.6% upward since December 2024. For 2026, the industry’s earnings estimates have moved 12.2% downward since December 2024.

However, before we present a few stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock market performance and valuation picture.

Industry Underperforms the Sector and the S&P 500
The Zacks Real Estate – Development industry has underperformed the S&P 500 composite and the broader Finance sector over the past year.

The industry has gained 10.7% during this period compared with the S&P 500 composite’s growth of 16.4%. The broader Finance sector has increased by 17.8%.

One-Year Price Performance

Industry's Current Valuation
On the basis of the forward 12-month price-to-earnings (P/E), which is a commonly used multiple for valuing real estate development companies, we see that the industry is currently trading at 13.95X compared with the S&P 500’s 22.9X. The industry is also trading below the Finance sector’s forward 12-month P/E of 17.22X. This is shown in the chart below.

Forward 12-Month Price-to-Earnings (P/E) Ratio

Over the past five years, the industry has traded as high as 58.66X and as low as 5.46X, with a median of 12.05X.

2 Real Estate Development Stocks to Consider
Howard Hughes Holdings, Inc.: This Woodlands, TX-based company is engaged in the ownership, management and development of commercial, residential and mixed-use real estate throughout the United States.

Its assets include a portfolio of master-planned community assets, buildings and equipment, land and developments. With its expertise in the real estate sector, the company is well-poised to bank on the favorable demand in the residential and commercial real estate markets.

In the third quarter of 2025, the company reported total revenues of $390.2 million, up 19% year over year. Master Planned Community earnings before taxes hit a record $205 million from selling 349 residential acres at $786,000 per acre on average. The company contracted $1.4 billion in future condo sales revenues, thereby reinforcing its long-term cash-flow outlook.

HHH currently carries a Zacks Rank #3 (Hold). The Zacks Consensus Estimate for its 2025 EPS remained unchanged at $1.71 over the past two months. The stock has gained 0.1% in the past month. You can see the complete list of today’s Zacks #1 Rank stocks here.

Sky Harbour Group Corporation: This White Plains, NY-based company operates as an aviation infrastructure developer, constructing a nationwide network of Home-Basing Solutions (HBS) campuses for business aircraft across the United States. The company develops, leases and manages general aviation hangars featuring exclusive private spaces and dedicated services for home-based aircraft.

Sky Harbour targets airfields in high-growth markets with hangar shortages and strong aircraft populations, often near metropolitan areas. It intends to capitalize on the existing hangar supply constraints, particularly for high-end tenants.

The company generates revenue primarily through long-term hangar leases. These leases typically average 3.5 years in duration, with some campuses achieving high occupancy rates near 95%. It reported strong third-quarter 2025 results with consolidated revenues of $7.3 million, up 78.2% year over year. It expects four new airports by the end of 2025, reaching a total of 23 airports in operation or development.

SKYH currently has a Zacks Rank #3. The Zacks Consensus Estimate for its 2025 EPS was revised to negative 9 cents compared to negative 14 cents over the past two months. The company’s shares have gained 0.4% in the past month.

About Angela Harmantas
Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government. She earned a Bachelor of... Read more

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Key Takeaways Dave delivered record Q3 2025 results, with revenue up over 60% year over year.Coherent posted $1.58B in revenues as AI data center demand drove strong pro forma growth.GigaCloud returned to growth and expanded its marketplace, while LiveRamp beat guidance.
As 2025 draws to a close, one theme stands out clearly across global markets: corporate demand for business services is not just resilient, it is evolving and accelerating. Companies are increasingly treating services as strategic enablers of growth, efficiency and competitive advantage.

From financial platforms and data infrastructure to digital marketplaces and collaboration networks, service providers that embed technology at the core of their offerings are becoming indispensable partners for enterprises navigating an increasingly complex operating environment. A major driver of this shift is the growing reliance on technology-led services to manage scale, cost discipline, and data-driven decision-making. Artificial intelligence, automation, cloud-based platforms, and advanced analytics are now tightly integrated into business workflows. As a result, demand is rising for service providers that can deliver these capabilities reliably, securely, and at scale. Importantly, this demand is not confined to a single industry; it spans financial services, retail, advertising, manufacturing, logistics and enterprise IT.

Another factor supporting long-term momentum is the essential nature of these services. Payroll, payments, data collaboration, B2B commerce and AI-driven decision tools are not discretionary expenses. Once embedded, they become critical infrastructure that businesses depend on daily. This creates sticky relationships, recurring revenues and strong visibility, characteristics that investors tend to favor heading into a new year.

Against this backdrop, several business services companies have distinguished themselves through strong revenue growth, improved profitability and platforms that are scaling effectively. The following four stocks stand out as we look toward 2026, each operating in a different corner of the business services ecosystem but sharing a common strength: they provide mission-critical services that customers are unlikely to cut back on, even in uncertain macro conditions.

Dave (DAVE - Free Report) : Technology-Driven Financial Services at ScaleDave’s recent performance highlights how technology-led financial services are gaining traction as essential consumer infrastructure. The company delivered another record third-quarter 2025, with revenues growing more than 60% year over year for the second consecutive quarter. This growth was not achieved at the expense of profitability as adjusted EBITDA more than doubled for the fourth straight quarter, underscoring the scalability of Dave’s platform.

Management attributes this momentum to expanding average revenue per user, accelerating member growth, and disciplined credit performance that remains within defined guardrails. The rollout of CashAI v5.5 further strengthened the platform, delivering meaningful improvements in origination size and delinquency rates. These enhancements reinforce Dave’s role as a technology-first financial service provider rather than a traditional lending platform.

The company’s confidence is reflected in its upgraded full-year 2025 outlook, with projected revenues of $544 - $547 million compared with the prior guidance of $505 - $515 million. The Zacks Consensus Estimate for revenues is currently pegged at$ 546.1 million, indicating 57.3% year-over-year growth. The company expects Adjusted EBITDA to be $215 - $218 million compared with the previous expectation of $180 - $190 million.

Looking into 2026, Dave’s essential value proposition, providing accessible, AI-enabled financial tools, positions it well to benefit from continued demand for digital financial services that prioritize efficiency, automation, and user engagement.

DAVE carries a Zacks Rank #1 (Strong Buy) at present. The stock gained 6% in the past month. You can see the complete list of today’s Zacks #1 Rank stocks here.

Coherent Corp. (COHR - Free Report) : Powering the Backbone of AI InfrastructureCoherent’s results last quarter underscore how deeply business services are intertwined with the expansion of AI and data-driven infrastructure. The company reported revenue of $1.58 billion, alongside solid gross margins and strong earnings performance. On a pro forma basis, revenue growth reached 19% year over year, driven primarily by demand from AI-related data centers and communications.

What makes Coherent particularly compelling is its role in enabling critical technology infrastructure rather than competing at the application layer. Its products and services support high-performance optical and photonics solutions that are essential for data transmission, computing and communications. As AI workloads continue to expand, so does the need for reliable, high-capacity infrastructure, a trend expected to persist throughout the fiscal year as production capacity ramps up.

Heading into 2026, Coherent’s services are likely to remain indispensable as enterprises and cloud providers invest in scaling AI capabilities. The company’s exposure to long-term infrastructure buildouts, combined with its expanding capacity, positions it as a beneficiary of sustained corporate technology spending. We expect around 15% year over year revenue growth in fiscal 2026. COHR carries a Zacks Rank #1 at present.

GigaCloud Technology (GCT - Free Report) : Building a Channel-Agnostic B2B MarketplaceGigaCloud’s latest quarter demonstrated resilience in a challenging macro environment, driven by disciplined execution and a diversified business model. The company returned to top-line growth in its Noble House segment following focused optimization efforts, while continuing to scale its broader B2B marketplace platform. Total revenues increased 10% year over year. Operating cash flow reached $78 million for the quarter, highlighting the strength of its asset-light, technology-enabled model.

A key strategic development is GigaCloud’s planned acquisition of New Classic Home Furnishings for $18 million in cash. This move will expand the company’s domestic distribution capabilities and strengthen its vision of a channel-agnostic marketplace that connects suppliers and retailers more efficiently.

Looking into 2026, GigaCloud’s essential service lies in simplifying B2B commerce through technology, logistics and data integration. As suppliers and retailers seek efficiency, reach and cost control, a scalable marketplace model with strong execution discipline is likely to remain highly relevant. We project around 9% year over year revenue growth in 2025. GCT currently sports a Zacks Rank #1.

LiveRamp (RAMP - Free Report) : Data Collaboration as a Core Business ServiceLiveRamp’s latest quarter reinforced the growing importance of data collaboration as a foundational business service. Second-quarter fiscal 2026 revenues and operating income surpassed guidance, while annual recurring revenue posted its strongest sequential like-for-like increase in seven quarters, a key signal of forward demand.

The company is seeing strong adoption of its Data Collaboration Network across diverse use cases, including cross-media measurement, retail and commerce media networks and AI-powered advertising workflows. As data privacy regulations tighten and businesses seek compliant ways to leverage first-party data, LiveRamp’s platform plays a critical role in enabling secure, interoperable data sharing.

Heading into 2026, demand for data collaboration is likely to intensify as AI-driven decision-making becomes more pervasive. LiveRamp’s position at the intersection of data, privacy, and enterprise collaboration makes its services increasingly essential rather than optional. We expect around 9% year over year revenue growth in fiscal 2026. RAMP currently carries a Zacks Rank #1.

Closing ThoughtEach of these four business services companies addresses a different but vital corporate need: financial access, AI infrastructure, B2B commerce and data collaboration. Their strong revenue momentum and scalable platforms suggest they are not simply riding short-term trends but benefiting from structural shifts in how businesses operate. As corporate demand for technology-enabled services continues to rise, these stocks appear well-positioned to keep shining into 2026.

AWS expands digital asset payment options by enabling BNB token transactions via the BPN network for its cloud services.

Key Takeaways

AWS customers can now use BNB to pay for cloud services via the BPN network.
The BPN network facilitates BNB payments through its integration with BNB Chain.

BNB payments are now available for Amazon Web Services customers through the BPN network, a BNB Chain-based infrastructure.

The integration allows AWS users to pay for cloud computing services using BNB, the native token of BNB Chain.

This launch adds to BNB Chain’s growing list of real-world financial use cases, expanding its role beyond trading into high-frequency payments, tokenized assets, and enterprise finance.

Disclaimer

Circle had a challenging year, with rapid growth and economic headwinds. For 2025, Circle Internet Group Inc. achieved over 66% in revenue growth. 

Circle Internet Group Inc., the issuer of the USDC stablecoin, saw over 66% in revenue growth. The group emerged as a growth leader among other crypto-friendly fintech companies. 

Circle achieved the biggest growth rate among fintech companies, though its revenues remain comparatively small to mature fintechs. | Source: Artemis
Circle’s main source of revenue came from its role as a stablecoin issuer. The company retained most of the fees, achieving $2.93B in revenues. Based on DeFi Llama data, daily fees for Circle grew more rapidly over the past 12 months. 

As a result, Circle produced over $8M in fees toward the end of 2025, gradually doubling daily revenues. The Circle Deployer smart contract on Ethereum was among the busiest for the past year. Additionally, Circle greatly expanded its supply on Solana, becoming an integral part of DEX trading and lending. 

Circle mixes crypto-native uses with fintech expansion
Circle’s USDC tokens gained importance both for crypto insiders and as a fintech tool. Major payment companies like MasterCard also adopted stablecoins as a payment gateway, available for selected markets. 

USDC tokens were added as a payment tool through Worldpay. Stripe, Finastra, and FIS also added stablecoin options. 

USDC and other Circle assets became a key to US and European markets, which introduced new stablecoin legislation, challenging the primacy of USDT. USDC retained its advantage as a fully compliant token, expanding its influence in 2025 after the past few years set up a new regulatory framework. 

Is Circle overvalued? 
Over the course of 2025, Circle had a turbulent trading year. CRCL stock started out in the $81 range, climbed to a peak of $293. The shares prepared to close the year with a net loss since the IPO, trading just above $82. 

For the entire 2025, Circle also had a high ratio of enterprise value to gross income and enterprise value to net income. 

Circle is still a growing company, meaning its current gross and net income are relatively small compared to the market valuation. More mature fintech companies like PayPal have a 2X ratio of enterprise value to annualized revenue. 

For Circle, the ratio is over 25 times, meaning the enterprise value is relatively large compared to gross revenues. The company also has a 35X ratio of enterprise value against net income. 

Circle now relies on stablecoin adoption and income from operations to bridge the gap with its post-IPO valuation. The company still has a market cap above $18B, standing within the top 5 of fintech companies. 

Despite the generally growing supply and usage of stablecoins, Circle is facing headwinds as both fintech and crypto are re-evaluating their use cases. USDC may have to pivot from crypto-insider activities and become a global payment gateway to avoid being trapped in a shrinking market.

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Bitcoin

Governments around the world are becoming more involved with digital assets, often without announcing any formal strategy.

Taiwan is a clear example. While the country has not adopted Bitcoin as a reserve or policy tool, its justice system is now actively holding seized BTC as part of criminal proceedings.

The development reflects a subtle but important shift: Bitcoin is no longer treated as an unusual or problematic asset by authorities. Instead, it is being handled within existing legal and institutional frameworks, much like cash, securities, or other financial instruments.

From Regulatory Theory to Operational Reality
For years, many governments approached crypto regulation from a distance, drafting rules without direct exposure to digital asset custody. That is changing. As crypto-related cases move through courts and investigations, authorities are being forced to deal with private keys, blockchain records, and secure storage in real-world conditions.

BREAKING: 🇹🇼 The Ministry of Justice has just revealed that Taiwan now holds 210.45 Bitcoin in seized assets.

Another nation-state holding Bitcoin pic.twitter.com/bp6VJ90rDM

— Bitcoin Magazine (@BitcoinMagazine) December 18, 2025

Taiwan’s Ministry of Justice has confirmed that it currently safeguards more than 210 BTC seized across multiple cases. While modest in size compared to corporate treasuries, the holding demonstrates that the country’s institutions are capable of managing crypto assets without external intermediaries.

Bitcoin Is Becoming Part of Legal Infrastructure
The ability to hold Bitcoin securely is not trivial. It requires internal custody standards, cybersecurity protocols, and legal clarity around asset control. Taiwan’s approach suggests that these systems are already in place and functioning.

This matters because enforcement capability often precedes regulatory clarity. Once governments gain hands-on experience with digital assets, policy discussions tend to become more practical and less speculative. Taiwan’s experience may therefore influence how future crypto rules are shaped, not just domestically but across the region.

A Different Kind of Government Exposure
Unlike countries exploring Bitcoin as a strategic reserve, Taiwan’s exposure is incidental. The BTC in question exists solely because crypto has become embedded in financial crime, fraud investigations, and illicit transactions.

That distinction is important. It shows that even governments without pro-crypto agendas are being drawn into the ecosystem simply by enforcing the law. In doing so, they implicitly recognize Bitcoin as a legitimate, traceable, and controllable asset.

Implications for the Crypto Market
For market participants, this trend sends mixed signals. On one hand, it supports long-term legitimacy by showing that governments can coexist with crypto rather than banning it outright. On the other, it reinforces the reality that blockchain activity is increasingly transparent to authorities with sufficient resources.

As more states develop internal crypto-handling capabilities, enforcement is likely to become faster and more precise. That shift may reduce regulatory uncertainty, even as it raises expectations for compliance and accountability.

A Quiet Milestone for Crypto’s Institutional Journey
Taiwan’s seized Bitcoin holdings may not make headlines like ETF inflows or corporate purchases, but they represent a meaningful milestone. When courts, prosecutors, and government custodians routinely manage digital assets, crypto moves another step closer to institutional normalization.

Bitcoin’s integration into state systems is not always intentional or ideological. Sometimes, it happens simply because governments are learning how to deal with the world as it is — and crypto is now part of that world.

Author

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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Crypto pundit ChartNerd has revealed that the XRP price is currently at a critical support, where the altcoin is set to decide its potential next move. The pundit urged XRP investors to remain patient as they await economic headwinds that could impact the price action.  

Pundit Points Out Level XRP Investors Should Keep An Eye On
In an X post, ChartNerd pointed to the multi-month support at around $1.8, noting that over the last 13 months, the XRP price typically rallies into the trading range resistance when the altcoin approaches that support territory. The analyst’s accompanying chart showed that the altcoin could bounce from this range to above $3, as it had historically. 

However, ChartNerd noted that with economic headwinds such as the potential BOJ rate increase, he questioned if this time could be different. He advised investors to hold on to their hats as they await a decision on the altcoin’s next move. The price and the broader crypto market have notably declined ahead of a potential rate hike by the Bank of Japan. 

Source: Chart from ChartNerd on X
This move by the BOJ could cause a liquidity squeeze and also spark a sell-off among market participants, which is what XRP and other crypto investors look to be pricing in. However, several fundamentals still paint a bullish picture for the altcoin, including the fact that the XRP ETFs just crossed $1 billion in net assets. They have also yet to record daily net outflows since they launched last month. 

A Drop To As Low As $1.64 Is Still On The Cards
Crypto analyst CasiTrades has predicted that the XRP price could drop to as low as $1.64, likely the final low of this correction. She noted that the token is in the subwave Wave 3 down, with momentum and RSI making new extremes. The analyst added that the next key levels to watch are $1.73 for potential short-term relief and $1.64, which is the macro .618 support. 

CasiTrades stated that there is a chance that the XRP price reaches $1.64 directly in this wave 3 down without a relief first. She noted that there won’t be a need for a second test of the area as support if that happens. The analyst expects a strong bounce from $1.64 that would likely open the door for a powerful move back to as high as $3. 

CasiTrades also mentioned that she expects this to play out by December 19, with a major time fib landing there. She remarked that this is the market making its decision right at the final moment and that this correction will end very soon. 

At the time of writing, the XRP price is trading at around $1.84, down almost 4% in the last 24 hours, according to data from CoinMarketCap.

XRP trading at $1.84 on the 1D chart | Source: XRPUSDT on Tradingview.com
Featured image from iStock, chart from Tradingview.com

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts.
Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

ICP extends recovery to rise above $3; trading volume increases without spikingInternet Computer pushed through the $3 level as steady buying demand lifted the token, with traders watching whether momentum can hold above former resistance. Dec 18, 2025, 5:02 p.m.

ICP$2.8752 rose about 2.2% over the past 24 hours to trade around $3.01, reclaiming the $3 level after several sessions of consolidation just below that threshold.

The move marks a continuation of the token’s recent recovery, with price action showing a steady series of higher lows, according to CoinDesk Research's technical analysis data model.

STORY CONTINUES BELOW

The push above $3 came after ICP held support near the $2.90–$2.95 zone, where trading activity picked up. Volume increased during the advance, although it did not spike to levels typically associated with strong breakout momentum, suggesting the move was driven by incremental positioning rather than a shift in market conviction.

After briefly moving above $3, ICP continued to trade near that level, indicating that the area is being tested as potential support. The broader structure remains constructive, though near-term follow-through will likely depend on the token’s ability to stay above the $3 handle.

If ICP maintains ground above $3, attention may shift toward resistance in the $3.05–$3.10 range. A move back below $3, however, would place the focus back on the upper-$2.90s, where the latest rebound began.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

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Key takeaways:

US-listed Ether ETFs saw heavy outflows, signaling fading institutional interest as network fees, staking and leverage demand declined.

ETH futures premiums and open interest declined, indicating cautious positioning and limited confidence, without a clear shift to outright bearishness.

Ether (ETH) plunged to $2,800 on Wednesday, triggering $165 million in liquidations across bullish futures positions. The 13% weekly decline in the ETH price was accompanied by strong outflows from Ethereum exchange-traded funds (ETFs), as risk aversion intensified amid concerns about the artificial intelligence sector. 

The tech-heavy Nasdaq index fell 1.8% on Wednesday, reinforcing fears among Ether investors that further downside could follow.

ETH/USD (blue) vs. Total Crypto capitalization/USD (red). Source: TradingViewOracle (ORCL US) shares dropped 5.5% on Wednesday after private lender Blue Owl Capital (OWL US) reportedly withdrew support for a planned $10 billion data center partnership. Investor sentiment weakened after reports that Blue Owl Capital had previously participated in Oracle facilities in Texas and New Mexico. The rising cost of Oracle’s debt protection has sparked a broader risk-off movement.

Markets are now focusing on Thursday’s release of the US Consumer Price Index (CPI) report, a pivotal event for risk assets. November’s weaker-than-anticipated 2.7% CPI growth allowed Ether price to reclaim the $2,950 level. Traders suggest this cooling inflation could prompt the Federal Reserve to introduce additional economic stimulus, especially as recent figures indicate growing stress within the labor market.

What is keeping ETH price down?Ether has underperformed the broader cryptocurrency market by 6% over the past week, with part of the bearish sentiment tied to demand for Ether ETFs.

Ether US-listed exchange-traded funds daily net flows, USD. Source: Farside InvestorsUS-listed Ethereum ETFs recorded $533 million in net outflows since Thursday, reversing the inflow trend seen over the prior two days. These instruments currently hold $17.5 billion worth of ETH and are typically associated with institutional investor demand. More concerning, however, is that demand for leveraged positions in ETH futures declined by 13% over the past week.

ETH futures aggregate open interest, USD. Source: CoinGlassAggregate open interest in ETH futures fell to $28.1 billion across major exchanges, down from a peak of $32.4 billion on Dec. 10. While a drop in leveraged positioning does not automatically signal bearish sentiment, it does put bullish conviction under pressure, especially as ETH traded 41% below its $4,957 all-time high. To determine whether bears are gaining control, investors often look to the monthly futures premium.

ETH 3-month futures annualized premium. Source: laevitas.chEther monthly futures traded at a 3% premium relative to spot markets on Wednesday, signaling weak demand from long positions. Under neutral market conditions, this premium typically ranges between 5% and 10% to account for capital costs. Declining activity on the Ethereum network has also weighed on investor expectations for Ether’s price.

Weekly Ethereum DApps fees, USD. Source: DefiLlamaFees generated by decentralized applications (DApps) on the Ethereum network fell to $68 million over the past seven days, down from $98 million four weeks earlier. Demand for ETH is closely tied to onchain activity, as higher usage creates stronger incentives for long-term accumulation. Total Ether locked in staking also slipped to ETH 35.69 million from ETH 35.76 million a month ago, signaling a reduced willingness to hold.

Ether’s ETF outflows in the US reflect weaker investor interest amid slowing Ethereum network activity and declining demand for leveraged positions. For traders to rebuild confidence, more than just a few days of inflows will likely be required, given the broader lack of economic visibility and rising risk aversion across markets.

This article is for general information purposes and is not intended to be and should not be taken as, legal, tax, investment, financial, or other advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.

The Bitcoin price has remained on edge this week as investors await the Bank of Japan's interest rate decision scheduled for Dec. 19.

Journalist

Posted: December 18, 2025

Forward Industries [NASDAQ: FWDI] has become the first public company to place SEC-registered equity directly on a blockchain, specifically on Solana. The SEC-registered equity is usable as collateral in decentralized finance.

The move, executed through Superstate’s Opening Bell platform, enables ex-US FWDI shareholders to post their tokenized stock as collateral on Kamino, one of Solana’s largest lending protocols.

Unlike existing “tokenized stock” products that rely on synthetic exposure or offshore wrappers, FWDI’s onchain asset represents real common stock, recorded and updated in real time by Superstate—a registered SEC transfer agent. 

It is the first instance of regulated public equity interacting natively with live DeFi markets, marking a significant step for tokenization in the U.S. regulatory landscape.

How FWDI equity becomes onchain collateral
Through the integration:

FWDI shares are tokenized on Solana via Superstate’s infrastructure
Ex-US holders can transfer shares to an allowlisted Solana wallet
Kamino accepts the tokenized equity as collateral
Pyth delivers real-time price feeds to secure onchain lending markets

This enables eligible investors to borrow stablecoins while maintaining exposure to the underlying NASDAQ-listed equity.

This is a capability not possible in traditional markets without intermediaries, delays, or derivative structures.

Kyle Samani, Chairman of Forward Industries, said the milestone shows “the next evolution of tokenized markets where real equity can function natively within DeFi,” describing the initiative as a bridge between traditional markets and programmable financial systems.

Why Solana is central to this development
Solana’s selection is not incidental. Forward Industries is currently the single largest public company holder of SOL. CoinGecko data shows it holds 6.91 million tokens in its treasury—more than any other public entity or government.

FWDI’s decision to tokenize its equity on Solana reinforces the company’s strategic alignment with the ecosystem.  Also, it underscores Solana’s growing role in regulated financial integrations.

Solana has already attracted major stablecoin, payments, and tokenization initiatives from Visa, Shopify, Paxos, Stripe and others. 

This positions Solana as a leading candidate for the next wave of real-world asset tokenization and enterprise financial rails.

What this means for crypto and tokenization
FWDI’s launch solves one of the tokenization sector’s biggest credibility gaps: the lack of legally recognized, regulatorily compliant equity onchain. The precedent opens the door for:

public companies seeking programmable shareholder structures
new collateral classes in institutional DeFi
onchain cap tables that sync directly with transfer agents
real-time settlement and borrowing against regulated assets

It also hints at how the broader market may evolve. If public companies increasingly seek exposure to onchain liquidity, tokenized equity could become a standard complement to traditional exchange listings—especially if liquidity, settlement, or capital efficiency improves.

Robert Leshner, CEO of Superstate, described the development as unlocking “the full potential of DeFi for real public equity,” signaling the company’s intent to expand the model to additional issuers.

Final Thoughts

FWDI’s move demonstrates that fully regulated U.S. equities can now operate within DeFi, creating a new category of onchain collateral with real legal standing.
Solana emerges as the early leader for regulated tokenization, with FWDI proving how public companies can plug directly into programmable financial markets.

Cardano is signaling a fundamental shift from the network's roots in academic research toward a commercially driven “operating system” model.

On Dec. 17, the Intersect Product Committee released a report titled “Vision 2030,” outlining a strict set of performance benchmarks intended to redefine how the market values the network.

Intersect, the member-based organization tasked with maintaining the network's continuity, aims to secure Cardano’s position not just as a cryptocurrency but as critical digital infrastructure. The strategy explicitly moves away from vague adoption promises.

Instead, it commits the ecosystem to achieving Key Performance Indicators (KPIs), including 324 million annual transactions, 1 million monthly active wallets, and a Total Value Locked (TVL) of roughly $3 billion by the end of the decade.

This document marks a turning point as the blockchain network previously prioritized formal verification and peer-reviewed code.

However, the Vision 2030 pivots the focus entirely toward metrics that enterprise clients and institutional investors recognize: uptime, revenue, and capital efficiency.

Notably, these targets also illuminate the stark contrast between Cardano's methodical approach and the explosive growth of its competitors, raising questions about whether “reliability” alone can close the gap with market leaders like Ethereum and Solana.

Cardano's “operating system” visionThe core thesis of the Vision 2030 draft is that a Layer 1 blockchain must function with the reliability of an operating system rather than the volatility of a startup.

The committee explicitly rejects the “speed at all costs” narrative that drives competitors such as Solana and Sui. Instead, the document anchors the network's success to a service-level reliability benchmark of 99.98% uptime.

The drafters defined this metric with unusual specificity, using a Poisson model with an expected block production time of 20 seconds.

Under this framework, the network classifies any five-minute interval without a block as a “meaningful failure event.”

So, Cardano's goal is to eliminate these gaps entirely across six-epoch windows, providing the kind of statistical assurance that infrastructure buyers, such as banks or government agencies, require before deploying capital.

This reliability focus dictates the network’s capacity planning.

The roadmap targets a base layer throughput of roughly 27 million transactions per month. The authors acknowledge that this limit is intentional as the strategy designates the mainnet primarily for high-value settlement and control traffic.

It assumes that high-frequency volume, such as day trading or gaming, will migrate to Cardano-based “first-class” Layer 2 networks. These L2s will handle the computational load while anchoring their final security back to the mainnet.

However, this design choice highlights a significant divergence from the broader market. A target of 27 million monthly transactions is significantly lower than that of high-performance networks like Solana, which routinely processed 70 million transactions daily.

Nonetheless, supporters of the blockchain network argue that Cardano is the best option for high-value users willing to pay a premium for settlement certainty. They make this case even as rivals offer vastly superior throughput for mass-market applications.

Governance and treasuryBeyond technical specifications, Vision 2030 proposes a radical overhaul of how the ecosystem allocates capital.

The document introduces “Treasury Seasons,” a structured budgeting framework designed to impose fiscal discipline on the network's decentralized treasury.

Under this new model, the ecosystem will no longer distribute grants based on open-ended proposals. Instead, the treasury will operate in batched public funding windows.

This strategy requires workstreams to justify their budget requests using the roadmap's three core utility metrics: TVL impact, transaction volume contribution, and active wallet growth.

The Intersect Product Committee describes these KPIs as “gating factors.” If a project fails to move the needle on adoption or reliability during one season, the governance process empowers the community to throttle or terminate its funding in the next.

The draft positions this mechanism as a safeguard against “perpetual grant mode,” ensuring resources flow only to initiatives that deliver observable returns.

This financial restructuring extends to the roles within the ecosystem. The plan outlines specific incentives for Delegated Representatives (DReps), Stake Pool Operators (SPOs), and the Constitutional Committee.

It introduces “turnout-aware thresholds” for governance votes, a mechanism designed to prevent small, motivated minority groups from pushing through decisions that lack broad support.

By formalizing these checks and balances, the committee aims to offer institutions a governance log they can audit, mirroring the corporate governance structures found in public equities.

The revenue reality checkThe document pairs its operational goals with a specific economic outlook.

The strategy outlines a path to financial sustainability in which protocol revenue—defined as transaction fees collected by the network—covers the costs of security and development. The authors aim to achieve at least 16 million ADA in annual protocol revenue by 2030.

This projection assumes that average transaction fees will stabilize around 0.05 ADA as volume scales to the 324 million annual target.

However, the report also includes a “scenario analysis” regarding the fiat value of that revenue. The document cites an “illustrative” ADA price of $5.00 to demonstrate the network's potential earning power. At this valuation, the protocol would generate approximately $81 million in annual revenue.

While these figures offer a path to sustainability, they pale in comparison to the current economics of the market leader.

This year, Ethereum generated approximately $600 million in transaction fees alone, which is nearly six times what Cardano aims to earn in a full year by 2030.

Top 10 Blockchain Networks Key Metrics (Source: Nansen)Furthermore, the reliance on a $5.00 token price, which is a roughly 500% increase from ADA's current price levels, suggests that the network’s business model remains heavily dependent on speculative asset appreciation rather than organic fee demand.

The risk of execution and L2 dependenceThe roadmap concludes with a frank assessment of the risks involved in this transition.

The authors emphasize that “invisible” user experience improvements, such as fee abstraction and session keys, are prerequisites for hitting the 1 million active wallet target. They acknowledge that the current user journey is often too complex for the enterprise compliance use cases they intend to capture.

Furthermore, the strategy highlights the economic tension inherent in the Layer 2 model.

The document explicitly warns of value leakage, noting that as activity moves to L2s, the base chain risks becoming a low-revenue settlement layer. Notably, Ethereum has faced significant struggles with its own layer-2 networks.

To mitigate this, Intersect insists that future bridge designs and tokenomics must “route value back” to Layer 1.

The draft calls on Stake Pool Operators to expand their roles, suggesting they run infrastructure for these L2s and auxiliary services to capture value across the full technology stack.

Essentially, the Vision 2030 document represents a clear desire to professionalize Cardano. By setting hard targets for uptime, adoption, and revenue, the ecosystem is inviting the market to judge it on execution rather than philosophy.

The proposed “operating system” model offers a coherent path to relevance, even if the financial projections suggest the network has a steep hill to climb to catch the industry's revenue giants.

Mentioned in this article

In brief
Ethereum transformed the blockchain industry by enabling smart contracts, DAOs, NFTs, and decentralized apps.
From its 2015 launch to The Merge in 2022, Ethereum has driven innovation and faced growing pains.
Ethereum powers DeFi and NFTs, but still battles high fees, scalability limits, and fierce competition.
Ethereum, the second-biggest cryptocurrency after Bitcoin, is a blockchain-powered platform for creating decentralized applications (dapps).

Ethereum is not just a cryptocurrency. It’s a global, decentralized network that enables smart contracts—self-executing programs on the blockchain—and decentralized applications, or dapps, that run without banks, governments, or big tech.

When programmer Vitalik Buterin published a “whitepaper” in late 2013 proposing a new kind of blockchain—not just for money but for programmable code—a revolution in digital finance began. Today, the Ethereum blockchain hosts decentralized applications like smart contracts, games, digital art, and assets worth billions.

Ultimately, many believe that Ethereum could underpin a re-imagining of how the internet works, dubbed Web3, in which control of the internet is disintermediated away from big companies such as Amazon, Google, Facebook, and X.

This guide will help you understand the history of Ethereum, Buterin’s big idea, and the role Ether plays in that vision.

Smart contracts: Ethereum’s breakthroughThe feature that set Ethereum apart from Bitcoin early on was the smart contract. A smart contract is a code stored and executed on the blockchain that runs automatically once its conditions are met.

Smart contracts are transparent, tamper-proof, and execute without relying on third parties. This makes them the backbone of everything built on Ethereum, from DeFi protocols to NFT marketplaces.

Who Invented Ethereum?Russian/Canadian computer programmer Vitalik Buterin wrote the whitepaper that Ethereum is based on. However, the building of the network and community was helped along by a number of co-founders: Anthony Di Loria, Charles Hoskinson, Miha Alisie, Amir Chetrit, Joseph Lubin and Gavin Wood.

Development of the Ethereum network began in early 2014 under the Ethereum Foundation, with Gavin Wood publishing the technical “yellow paper” that defined the Ethereum Virtual Machine.

A crowdfunded token sale followed in mid-2014, raising funds through an initial coin offering, or ICO, that exchanged Bitcoin for Ether. The ICO raised over $18 million.

The network officially went live on July 30, 2015, launching as “Frontier”—a platform for developers to test and deploy decentralized applications.

The switch from Proof-of-Work to Proof-of-StakeWhen it first launched, Ethereum used the same Proof-of-Work consensus mechanism as Bitcoin, with cryptocurrency miners securing the network by solving complex cryptographic puzzles.

In September 2022, Ethereum switchted to a Proof-of-Stake (PoS) consensus algorithm. Instead of mining, Ether is created through staking: validators lock up at least 32 ETH as collateral and are chosen to propose and verify new blocks. Honest participation earns them ETH rewards.

This shift, known as “The Merge,” ended Proof-of-Work mining, making Ethereum more energy-efficient while allowing anyone with the required stake to help secure the network and earn rewards.

Blocks are still added about every 12 seconds, but ETH is now distributed as staking rewards, not mining rewards.

Did you know?Ether (ETH), Ethereum’s native cryptocurrency, pays for transactions, powers apps, and secures the network. Ether’s sub-units, Gwei and Wei, are named after Wei Dai, an early pioneer of cryptocurrencies.

What applications have been built on Ethereum?
👥 Social Networks: Get paid for your posts on social media dapps.
📁 File Storage: Decentralized file storage at a fraction of the price.
💸 Overseas Payments: Dramatically reducing the cost of sending cash overseas.
💳 Payment Cards: Contactless debit card to pay in Ethereum and other cryptocurrencies.
👀 Online advertising: Cutting out the middlemen in online ads. Users get paid directly for watching online advertisements.
💱 Exchanges: Decentralized exchanges (DEXs) such as Uniswap enable users to trade cryptocurrencies peer-to-peer, without middlemen.
🏦 Loans: Blockchain-backed loans with no credit checks.
Timeline: Major milestones in Ethereum
Late 2013: Vitalik Buterin publishes the Ethereum white paper, introducing the idea of a programmable blockchain.
Mid-2014: Ethereum crowdsale (ICO) sells Ether for Bitcoin to fund development.
July 30, 2015: Ethereum launches with the “Frontier” genesis block.
September 2015: “Frontier Thawing” update increases gas limits for more stability.
March 2016: Homestead upgrade improves protocol security and usability.
April 2016: The DAO, a decentralized venture fund, launches via crowdsale.
June 2016: Hackers exploit The DAO and drain roughly $50 million in Ether. Community votes to hard-fork, creating Ethereum (ETH) and Ethereum Classic (ETC).
October 2017: Byzantium hard fork enhances performance, privacy, and sets the stage for Proof-of-Stake.
December 2017: CryptoKitties and CryptoPunk NFTs go viral, stressing network capacity and highlighting scalability issues.
January 2018: ERC-721 NFT standard is introduced, enabling unique digital assets.
December 2020: Beacon Chain launches, beginning Ethereum’s transition to Proof-of-Stake.
March 2020: Visa begins settling USD Coin (USDC) stablecoin transactions using Ethereum.
April 2021: Berlin hard fork reduces gas costs.
August 2021: London hard fork activates EIP-1559; introduces fee burning, reducing inflation.
September 15, 2022: “The Merge” transitions Ethereum from Proof-of-Work to Proof-of-Stake, cutting energy use by more than 99 percent.
April 12, 2023: The Shanghai upgrade enables withdrawal of staked Ether from the Beacon Chain.
March 13, 2024: The Dencun upgrade introduces proto-danksharding, a step toward reducing costs and increasing scalability.
May 7, 2025: The Pectra upgrade, combining Prague and Electra updates, aims to expand staking flexibility and improve Ethereum’s efficiency.
December 3, 2025: The Fusaka upgrade introduces changes to Ethereum's data availability and block capacity.
Ethereum and DAOsOne of Ethereum’s most radical innovations was the decentralized autonomous organization, or DAO. A DAO is a blockchain-based organization governed by smart contracts and community votes. Members typically hold tokens that grant them voting power on how the DAO operates and spends its funds.

The first major experiment was The DAO in 2016, which sought to operate as a decentralized venture capital fund. Investors pooled Ether, then voted collectively on how to allocate it. The project ended in disaster due to an infamous hack, but it demonstrated the potential of blockchains as platforms for decentralized governance.

Since then, DAOs have grown into a vibrant sector. They range from DAO frameworks like Moloch and Aragon, to investment collectives like Syndicate, and governance DAOs such as MakerDAO, which manages a stablecoin pegged to the U.S. dollar, to social DAOs that organize communities online.

Supporters argue that DAOs could redefine corporate governance by replacing traditional hierarchies with code and community control. Critics warn that legal frameworks remain murky, and smart contract vulnerabilities pose risks. Still, DAOs remain one of the clearest examples of Ethereum enabling something that could not exist without it.

A network tested by crisisIf Bitcoin is the gold of the cryptocurrency world, Ethereum is the oil that machines are powered on—but it has not been all smooth sailing.

Ethereum’s first major crisis arrived in 2016 with the DAO hack, when attackers exploited a vulnerability to steal $50 million worth of Ether.

The community was split: some argued the blockchain’s ledger should remain immutable, while others pushed to undo the damage. The decision to hard fork created two parallel blockchains—Ethereum (ETH) and Ethereum Classic (ETC).

Ethereum and the NFT boomEthereum also fueled the explosion of non-fungible tokens, or NFTs, unique digital assets that prove ownership of items like art, music, or collectibles.

The breakthrough came in 2017 with the ERC-721 token standard, which let developers create unique tokens on the Ethereum blockchain.  NFTs began to clog the Ethereum network as users spent millions trading CryptoKitties, CryptoPunks, and more, showing both the appeal and the limits of the technology.

By 2021, NFTs had gone mainstream. Digital artist Beeple sold an NFT artwork for $69 million, and the Bored Ape Yacht Club launched. One of the most prominent NFT collections, the Bored Ape Yacht Club, is a collection of 10,000 primate-themed NFTs that became a cultural phenomenon, drawing celebrities and selling for hundreds of thousands of dollars each. At its height, in May 2022, all 10,000 BAYC NFTs collectively were valued over $1 billion.

Ethereum’s smart contracts made this possible by encoding ownership and authenticity directly into the blockchain. The NFT boom exposed Ethereum’s energy inefficiency, accelerating its shift away from the more energy-intensive Proof-of-Work algorithm.

The race to scaleEthereum’s biggest weakness? Scalability. At about 15 transactions per second, it cannot match Visa’s tens of thousands. That bottleneck has often caused sky-high “gas fees,” or transaction costs.

To address this, developers began a years-long upgrade known as Ethereum 2.0. The launch of the Beacon Chain in 2020, the Berlin and London upgrades in 2021, and the Merge in 2022 marked steps toward a more efficient, Proof-of-Stake network. Later upgrades, including Shanghai in 2023 and Dencun in 2024, tackled staking flexibility and lower transaction costs.

Ethereum and the Web3 visionSupporters see Ethereum as the foundation for “Web3”—an internet where users, not corporations, control data, money, and digital identities. Ethereum powers decentralized finance DeFi, non-fungible tokens, and decentralized autonomous organizations, each of which experiments with alternatives to traditional financial and governance systems.

But competition looms. Rival networks such as Solana, Cardano, and Polkadot have positioned themselves as faster, cheaper alternatives. Meanwhile, Ethereum scaling solutions like Polygon and Arbitrum aim to process transactions off-chain before anchoring them to Ethereum’s main blockchain, reducing lag time and cost.

Ethereum and privacyIn 2025, privacy has become a key focus of the Ethereum project. In November, Vitalik Buterin stated that "Privacy is not a feature. Privacy is hygiene," building on a narrative in which he framed it as a fundamental requirement for digital systems such as blockchain platforms.

The Ethereum Foundation has followed suit, launching a privacy cluster in October 2025 that includes 47 researchers, coordinators and cryptographers. The Foundation also launched Kohaku, a "privacy-first" toolkit for Ethereum, alongside a browser wallet and SDK. Upon its launch, Buterin commented that "Full-stack privacy and security are first-class priorities in Ethereum."

A decade in, Ethereum is still defining itselfAs Ethereum enters its second decade, it continues to test the boundaries of what a blockchain can do. Whether it will deliver on its vision of a decentralized internet—or cede ground to faster competitors—remains an open question.

What’s certain is that Ethereum has already changed how we think about the internet, money, community, and governance.

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

Thu, 18/12/2025 - 15:37

SBI Group is a massive institutional partner of Ripple, the company associated with XRP.

Cover image via U.Today

SBI VC Trade, a major Japanese cryptocurrency exchange and subsidiary of the financial giant SBI Holdings, is opening a new recruitment round for its "Rent Coin" (Lending) service.

The recruitment period begins tonight, Dec. 18, 2025, at 20:00 (JST).

The exchange supports lending for 34 assets, including XRP, Bitcoin (BTC), and even meme cryptocurrency Dogecoin (DOGE). 

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How it works The service, formally known as a "Consumption Loan Agreement," allows users to lend their cryptocurrency to SBI VC Trade for a fixed period. You lock up your crypto (for instance, XRP) with the exchange for a set time (a week or 28 days). In return, you receive a "usage fee" (interest) paid in the same cryptocurrency.

Unlike stocks with dividends or banks with interest, holding crypto in a wallet usually yields nothing. This service turns idle crypto into an income-generating asset.

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It is worth noting that applications are generally approved on a first-come, first-served basis, and popular coins (often XRP and DOT) can hit capacity quickly (waitlisted).

SBI VC Trade first launched its cryptocurrency lending service in November 2020.

Following the merger with TaoTao and a platform upgrade, SBI VC Trade re-launched the service under this new, more user-friendly brand (RentCoin). This is when they officially added support for XRP and Ethereum (ETH) to the lending program, alongside Bitcoin.

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Thu, 18/12/2025 - 15:58

Traders seem to be taking a wait-and-see approach as 2025 wraps up, with various market metrics declining.

Cover image via U.Today

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.

Shiba Inu's burn rate has crashed to 0% in the last 24 hours, with just over 500 SHIB tokens burned.

According to Shibburn, 552 SHIB tokens were burned in the last 24 hours as the crypto market enters a slowdown phase. The sudden drop has caused the Shiba Inu burn rate to collapse, reaching 0%. This contrasts with a 3,620% surge in burn rate the day before, when over seven million tokens were burned.

HOURLY SHIB UPDATE$SHIB Price: $0.0000075 (1hr 0.60% ▲ | 24hr -3.59% ▼ )
Market Cap: $4,415,380,605 (-3.64% ▼)
Total Supply: 589,246,091,967,191

TOKENS BURNT
Past 24Hrs: 552 (0% ▲)
Past 7 Days: 2,150,328 (-96.96% ▼)

— Shibburn (@shibburn) December 18, 2025 In the last seven days, the Shiba Inu burn rate also significantly declined. According to the Shibburn rate, 2,150,328 SHIB tokens were burned, marking a 96.96% drop.

Traders seem to be taking a wait-and-see approach as the year 2025 wraps up, with various market metrics declining.

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Historically, this often coincides with moments when panic-sellers become exhausted and markets approach a reversal.

SHIB price actionShiba Inu extended its slide from a high of $0.00000845 on Dec. 13 into the fifth day, reaching a low of $0.00000731 in Thursday's session.

Shiba Inu's U.S. perpetual style futures' launch on Coinbase on Dec. 15 had failed to lift the SHIB price, as it fell alongside the rest of the crypto market.

At press time, Shiba Inu was trading down 4.55% in the last 24 hours to $0.000007344 amid a general decline on the broader crypto market as investors weighed newly released inflation data.

The delayed November consumer price index report, which is the first one issued to the public since the U.S. government shutdown ended last month, showed that the headline annual inflation rate was 2.7%, according to the Bureau of Labor Statistics.

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The index provider applies capital market models to bitcoin, arguing institutional adoption supports long-term valuations and structured portfolio allocation. Dec 18, 2025, 4:00 p.m.

CF Benchmarks, a wholly-owned subsidiary of Kraken, stated on Thursday that institutional investors are increasingly analyzing bitcoin BTC$88,240.30 through the lens of portfolio construction rather than short-term price cycles. The firm models a base-case price of $1.4 million by 2035.

In its 42-page report, titled "Building Bitcoin Capital Market Assumptions: A Practitioner's Framework for Strategic and Tactical Allocations," the U.K.-based, FCA-regulated benchmark administrator argued that bitcoin can be evaluated using the same capital market assumptions applied to traditional assets, including expected returns, volatility and correlations.

STORY CONTINUES BELOW

That shift reflects growing institutional participation as regulated markets become accessible, deeper liquidity in spot and derivatives markets and improving regulatory clarity, according to the firm.

A portfolio-based approach to bitcoinInstead of offering near-term price calls, CF Benchmarks applies multiple valuation frameworks to assess bitcoin’s long-term role in diversified portfolios. Those models include comparative valuation against other stores of value, production economics that link market price to mining costs and analysis of bitcoin’s sensitivity to global liquidity conditions.

Taken together, CF Benchmarks said these approaches suggest bitcoin’s value is supported by its expanding share of the global store-of-value market, its fixed supply schedule and its responsiveness to monetary conditions. As institutional participation increases, the firm anticipates that volatility will decline over time, while correlations with traditional asset classes remain relatively low, thereby enhancing diversification potential.

Long-term price scenarios through 2035Using those frameworks, CF Benchmarks derived a range of long-term valuation outcomes for bitcoin through 2035, based on differing adoption paths.

In its most conservative scenario, the firm modeled a bear case in which bitcoin continues to gain market share at its historical pace, capturing roughly 16% to 33% of gold’s market capitalization. Under that scenario, CF Benchmarks estimated a bitcoin price of about $637,000 by 2035.

Its base case assumes broader institutional adoption and faster growth, with bitcoin reaching roughly one-third of gold’s market capitalization. That probability-weighted scenario implies a price of around $1.42 million by 2035, according to the report.

In a more optimistic bull case, CF Benchmarks modeled bitcoin becoming the dominant global store of value, surpassing gold’s market capitalization. That scenario projected a valuation of nearly $2.95 million by 2035, driven by accelerated institutional and sovereign adoption.

Implications for institutional portfoliosBeyond price outcomes, CF Benchmarks said its simulations suggest a strategic allocation of roughly 2% to 5% to bitcoin could meaningfully improve portfolio efficiency. In those models, bitcoin’s high expected returns, declining volatility and low correlations with equities and bonds expanded the efficient frontier, allowing for higher return targets at comparable or lower levels of risk.

The firm argued that as regulatory clarity improves and institutional access deepens, investors are likely to focus less on speculative narratives and more on disciplined allocation, rebalancing and risk management frameworks.

Rather than treating bitcoin as an outlier asset, CF Benchmarks’ analysis positions it as an asset that can be increasingly modeled to be a component of long-term portfolios, with valuation outcomes tied to adoption dynamics and macroeconomic conditions rather than short-term market sentiment.

AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

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Flood of new crypto ETPs expected in 2026, says Bitwise

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The SEC's new rules could lead to a surge in crypto ETP launches in 2026, according to Bitwise.Bloomberg's James Seyffart warns that many new crypto ETPs might fail within 18 months due to market saturation.The regulatory changes eliminate the lengthy 19(b) rule filing process, streamlining the listing of crypto ETPs.Read full story

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Posted: December 18, 2025

While the short-term frenzy cooled, Pippin respected its ascending structure. The memecoin rebounded after dipping to $0.27 earlier.

Pippin defended the $0.40 support zone and climbed 14.77% to a session high of $0.455. At press time, Pippin [PIPPIN] traded at $0.447, up 10.32% on the daily chart.

Over the past month, the memecoin’s market cap rose from $308 million to $445 million, reflecting steady capital inflows.

So, what fueled the rebound?

Robinhood listing shifts sentiment
Surprisingly, after a glorious month, Pippin received a significant endorsement and got listed on Robinhood. Listing on Robinhood is often perceived positively in the market, indicating the project has achieved a substantial level of reputation. 

Usually, a new exchange listing expands the user base and increases the capital pool. This explains the recent jump in market cap by over $100 million. 

What’s driving Pippin uptrend?
Besides Robinhood listing, massive capital flowed into the Pippin Futures market.

According to CoinGlass data, Futures Inflows totaled $452.54 million over the past 24 hours. Futures Outflows stood at $448.86 million.

Source: CoinGlass

As a result, Futures Netflow jumped to $3.67 million at press time, an 80% drop from $40 million three days ago, a clear sign of aggressive Futures accumulation. 

Coupled with that, Top Addresses increased their holdings by 10.45 million tokens over the past 24 hours. Equally, these addresses boosted their holdings by 21% to 813 million over the past month.

Source: Nansen

Such sustained accumulation even during an uptrend signaled conviction in the market, as they anticipate further gains.

Holder concentration raises red flags
Despite the rally, Pippin faced growing scrutiny over supply concentration.

A Bubblemaps investigation, published two days earlier, reported that insiders controlled 80% of PIPPIN’s supply, worth about $380 million.

The analysis showed 27 wallets holding the majority of tokens with similar transfer patterns. Sixteen wallets initially received tokens from centralized exchanges, an unusual distribution pattern.

Source: Bubblemaps

The other 11 wallets associated with CEX exchanges hold 9% of the total supply, with these two batches having market at grip. 

Such market control leaves the market suspicious and worried at the same time. Although Pippin is still pumping, the question is for how long?

Can the momentum hold?
Following the rebound, momentum indicators strengthened.

On the daily chart, the Relative Strength Index (RSI) rose to 74, entering overbought territory. The Relative Vigor Index (RVGI) also crossed higher to 0.205.

Source: TradingView

Such readings typically reflect strong upside momentum driven by aggressive demand.

If buying pressure holds, Pippin could attempt to flip $0.50 into support and test new highs. However, risks tied to wallet concentration remained significant.

Any coordinated selling from large holders could trigger sharp downside moves. Under that scenario, price could revisit the $0.30 zone.

Final Thoughts

Pippin’s rebound demonstrated how listings and leverage can quickly reinforce momentum.
Still, a heavy concentration of supply may shape how durable that strength becomes.

Cover image via U.Today

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.

The market is slightly coming back to the red zone, even though some coins keep trading in the green area, according to CoinMarketCap.

Top coins by CoinMarketCapBTC/USDThe price of Bitcoin (BTC) has risen by 0.65% over the last 24 hours.

Image by TradingViewOn the hourly chart, the rate of BTC is going down after setting a local resistance of $89,150. If the daily bar closes far from that mark, the correction is likely to continue to the $86,000 area soon.

Image by TradingViewOn the longer time frame, none of the sides is dominating, as the price of the main coin is far from support and resistance levels. 

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As none of the sides is dominating, there are low chances of seeing sharp moves this week.

Image by TradingViewFrom the midterm point of view, the situation is similar. The volume is low, which means neither buyers nor sellers have enough energy. All in all, consolidation in the range of $84,000-$94,000 is the most likely scenario until the end of the month.

Bitcoin is trading at $88,147 at press time.

Cover image via U.Today

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.

According to CoinGlass data, Cardano has seen spot outflows of $49.95 million, which translates to 132,406,417 ADA.

Notably, in the last 24 hours, Cardano's spot outflows have exceeded inflows (which came in at $47.32 million), a positive signal even as the crypto market sell-off deepens.

Spot outflows from exchanges might suggest buying or a move to cold wallets, with the intention not of selling immediately but rather to hold it for a longer period.

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At press time, ADA was down 2.21% in the last 24 hours to $0.376, following a drop in the broader crypto market as investors weighed newly released inflation data.

Cardano stands out in ETP inclusionAccording to Bloomberg ETF analyst James Seyffart, Cardano currently stands out as a prominent asset included in most ETPs.

Seyffart made this deduction as he reviewed six crypto index ETPs: the CoinShares Altcoins ETF (DIME), Bitwise 10 Crypto Index Fund (BITW), Grayscale Digital Large Cap Fund (GDLC), Hashdex Nasdaq Crypto Index ETF (NCIQ), 21Shares FTSE Crypto 10 ETF (TTOP) and the 21Shares FTSE Crypto 10 Ex-BTC ETF (TXBC).

The Bloomberg ETF analyst reviewed these crypto ETPs as he made his projection for the year 2026. He highlighted something that came as a surprise to him: Cardano made its way into the six crypto index funds.

"Notable and surprising to me: the only asset that made its way into all 6 of the products i looked at was Cardano (ADA)," Seyffart wrote.

Cardano ETF coming in 2026?While Cardano has found its way into most crypto index funds, it is yet to have its own spot ETF in the U.S.

This is expected to change in 2026 if a prediction by asset manager Bitwise is fulfilled. Bitwise, in a recent tweet, predicted more than 100 crypto-linked ETFs to launch in the U.S. in the coming year.

Bitwise cited the SEC's generic listing standards published in October, which allow ETF issuers to launch crypto ETFs under a general set of rules, adding that a clearer regulatory roadmap in 2026 might set the stage for "ETF-palooza."

Bloomberg analyst James Seyffart predicts crypto index ETPs as one category to garner a lot of assets, which is expected to come in a lot of shapes and sizes.

Cover image via youtu.be

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.

Lookonchain has spotted an unusual transfer in the Ethereum ecosystem that has sparked widespread speculation on the market. The on-chain analytics platform highlighted that an Ethereum (ETH) wallet, which has been dormant for nine years, was suddenly reactivated and has made some major transactions.

Unusual capital rotation to Bitcoin Cash Notably, the wallet, which is possibly linked to Erik Voorhees, CEO of ShapeShift exchange, has been busy over the last 14 days. 

Since it became active, the wallet has sold a total of 4,619 ETH, valued at about $13.42 million. This large volume has caught the attention of the Ethereum community, given the asset’s price performance lately.

More concerning, however, is that Voorhees has used the proceeds from the sales to buy Bitcoin Cash (BCH). So far, 24,950 BCH has been purchased within the period. The capital rotation from a dormant wallet that suddenly became active has triggered speculation among users online.

Undoubtedly, Voorhees is an early adopter of Ethereum, and many wondered what could have caused him to dump ETH for BCH. If the wallet actually belongs to Voorhees, likely, he is no longer convinced of Ethereum’s long-term growth trajectory.

It is worth mentioning that when these 4,619 ETH were acquired in 2016, the asset’s highest price peak was around $20. This places the total value of the asset below $100,000 and leaves Voorhees with a profit of over $13.3 million.

Some traders consider the move as bullish for Bitcoin Cash but cautionary for Ethereum. In the last 30 days, Ethereum’s volatility has prevented it from gaining stability above the $3,000 level. The coin has faced rejection at $3,400 and $3,200 within this time frame.

As of press time, Ethereum is changing hands at $2,947.82, which represents a 2.34% decline in 24 hours. It had briefly flipped the $3,000 resistance to hit $3,025.82 before suffering a correction in the course of the day’s trading.

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Is Ethereum witnessing systemic dump?Meanwhile, some community members have dismissed the capital rotation by this wallet from Ethereum to Bitcoin Cash as an isolated case. They maintain that this alone should not spark a volatility narrative for the leading altcoin.

However, as U.Today reported, Samson Mow, CEO of JAN3, within the last 24 hours, has also liquidated all Bitmine Ethereum holdings and pivoted to Bitcoin. Mow had previously diversified his portfolio and bet on Ethereum as a treasury asset.

Market analysts are keenly watching to see how this impacts Ethereum and if it might trigger panic selling on an already volatile market.

Journalist

Posted: December 18, 2025

Circle made two significant announcements on 18 December, one with Intuit, and the other with Stacks. The move signals how the company intends to position USDC across both traditional finance and crypto infrastructure.

The first development came through a multi-year partnership with Intuit, the parent company of TurboTax, QuickBooks, and Credit Karma. 

The second involved the launch of USDCx on Stacks via Circle’s xReserve system. This enables Bitcoin-secured applications to access interoperable USDC liquidity for the first time.

Intuit to add USDC across TurboTax, QuickBooks, and Credit Karma
The Intuit partnership is the largest stablecoin integration into U.S. consumer financial software to date. With over 100 million users, Intuit sits on a unique layer of personal finance: tax refunds, credit scoring, payroll, invoicing, and small-business cashflow.

Source: X

Circle’s infrastructure will allow Intuit to embed USDC capabilities into these products over time, enabling use cases such as:

faster access to tax refunds
cheaper cross-border payments
programmable small-business payouts
real-time settlement across Intuit’s financial tools

While the companies did not give a specific rollout calendar, the scale alone makes this one of the most consequential stablecoin partnerships of the year. 

It places USDC directly inside platforms that handle billions in annual refunds and small-business flows — areas where speed and cost-effectiveness have traditionally been limited by legacy rails.

For Circle, this is not a crypto play — it’s a payments play. Also, it’s aimed squarely at PayPal, Visa Direct, and real-time bank networks.

USDCx launches on Stacks, bringing stable liquidity to Bitcoin DeFi
The second development pushes Circle into a very different arena: Bitcoin-based decentralized finance.

Stacks, a Bitcoin Layer 2 that anchors its state to BTC via Proof of Transfer, is now connected to Circle’s xReserve system. This allows USDCx to be issued on Stacks, fully backed by USDC held in Circle’s on-chain reserve infrastructure.

The implications are big for Bitcoin-native applications:

borrowers can take out non-custodial USDCx loans using BTC as collateral
DEXs on Stacks can support stablecoin trading pairs
lending markets gain a regulated stablecoin with verifiable backing
developers get access to crosschain USDC liquidity without bridges

This positions Stacks as one of the first Bitcoin ecosystems to gain a regulated, interoperable stablecoin — a gap that historically limited BTC’s ability to support robust DeFi.

Taken together, USDC is being positioned as the default settlement rail for both traditional fintech and the next wave of multi-chain crypto applications.

Market impact
These integrations won’t lead to immediate volume spikes, but they do reshape long-term expectations. USDC holds the second-largest stablecoin market share, behind Tether USDT, with approximately $78 billion. 

Furthermore, USDC gaining a foothold in mainstream platforms like QuickBooks and TurboTax could normalize stablecoin usage for everyday financial interactions, not just crypto trading.

Meanwhile, USDC’s entry into Bitcoin’s DeFi ecosystem provides developers building on Stacks with a tool they haven’t had before: regulated, stable liquidity that can move across chains without the need for additional trusted intermediaries.

Final Thoughts

Circle’s dual expansion shows USDC is being built as a multi-layer money rail spanning traditional finance and next-generation crypto infrastructure.
If these integrations gain traction, USDC could become one of the first stablecoins used seamlessly across both consumer software and multi-chain applications.