Trading

Ripple shifted 600M XRP across multiple wallets as the 21Shares XRP ETF (TOXR) began trading on Cboe BZX. On-chain data shows seven transfers of exactly 100M XRP completed within minutes, with four sending wallets tied to Ripple and three destinations unrecognized. XRP traded near $2.03 after a 15.7% decline over the past 30 days.

Coinbase plans to unveil a prediction market and an in-house tokenized equities product at a Dec. 17 showcase. The sector has seen rapid growth, with Kalshi and Polymarket's combined monthly volume hitting $7.7 billion in November, and Gemini and Crypto.com outlining new initiatives. Coinbase shares closed down 2.2% at $269.02 on Thursday.

Arthur Hayes Sees Ethereum Price at $20,000 by Next US Election: Stablecoins, Layer-2, Whales, and Treasuries in Focus.

On Friday, Dec. 12, around 39,000 BTC options worth about $3.6 billion expire, alongside 247,000 ETH contracts totaling $768 million, for roughly $4.3 billion in notional. BTC's put/call stands near 1.1 with max pain around $90,000, while ETH's is 1.24 with max pain at $3,100; spot prices remain range-bound.

Bitcoin’s recent pullback has unsettled traders, but Anthony Pompliano and Raoul Pal argue it remains a correction within an ongoing bull market. They expect institutional accumulation, cooling inflation, and potential Federal Reserve rate cuts to support a strong Bitcoin advance into 2025–2026. Pal also points to a prospective global liquidity surge and regulatory clarity as key drivers, with an altcoin rotation potentially emerging in 2026.

At press time, Bitcoin traded around $91,400 after rebounding from $84,000 to nearly $93,000. According to CryptoQuant, total exchange volume fell from 88,000 BTC to about 21,000 BTC, average deposits slid from 1.1 BTC to 0.7 BTC, and whale deposit share dropped from 47% to 21%, setting up a potential test of $98,700 and even $102,000–$112,700.

The U.S. Commodity Futures Trading Commission issued no‑action letters to Polymarket, PredictIt, Gemini and LedgerX, easing certain swap‑related recordkeeping and reporting duties under narrow conditions. Platforms must fully collateralize contracts, clear through designated processes, and publish executed contract data. The guidance does not constitute blanket approval and targets prediction markets structured as derivatives.

Since December 1, Glassnode reports that entities holding 10,000–100,000 BTC offloaded or redistributed 36,500 BTC, roughly $3.4 billion, as Bitcoin struggled under $94,000. BTC traded around $92,250 (-0.2%) during the early Asian session Friday, while FX Leaders cited a 50% drop in stablecoin inflows since August, indicating thinner market liquidity.

Bitcoin slipped back under $91,000 after the Federal Reserve cut interest rates by 25 basis points, sparking short-term volatility across risk assets. On-chain metrics from Binance show Exchange Inflow Coin Days Destroyed dropping to 380, the lowest level since September 2017, signaling that long-term holders are largely avoiding deposits to exchanges. With BTC trading around $89,600 and price trapped between the 200-day and 100-day moving averages, the market sits in a fragile consolidation while whales appear reluctant to sell.

Pudgy Penguins (PENGU) has dropped 11%, marking the steepest 24‑hour loss among the top 100 cryptocurrencies as capital exits its derivatives market. Despite a 19% decline in Open Interest and nearly $1 million in long liquidations, funding and Long/Short data on Binance and spot inflows suggest investors are still positioning for a potential rebound.