On 25 December 2025, LD Capital's Trend Research expanded its Ethereum position, buying over 46,000 ETH worth about $137 million during a market dip. Despite unrealized losses above $140 million, founder Jack Yi said the firm plans to deploy up to $1 billion over time and is orienting its strategy toward a potential 2026 cycle.

On December 25, 2025, data from CryptoRank cited by PANews showed BNB Chain leading Layer 1 blockchains by daily active users, ahead of Solana, NEAR, TronDAO, and Aptos. BNB Chain reportedly recorded 4.32 million daily active users, while Solana and NEAR logged 3.23 million and 3.15 million, respectively. BNB was priced at $840.99 with a market cap of $115.83 billion, posting a 0.54% daily decline but a 1.31% gain over the past week.

Over the past year, Binance Wallet has led major token launch platforms with a 12.69x current ROI and a 78.01x all-time high ROI across 44 projects. Data shows that participants who exit shortly after token listings tend to secure gains, while longer-term holders often see profits erode as liquidity and momentum decline.

On Christmas Eve, Hong Kong's FSTB and SFC said they had concluded consultations on a licensing framework for virtual asset dealers and custodians. The regime, modeled on Type 1 securities standards, tightens oversight of trading and custody and encourages pre-application discussions, with a follow-on phase targeting virtual asset advisors and asset managers.

On Dec. 17, DTCC outlined plans to tokenize a portion of U.S. Treasury securities held at its Depository Trust Company on the Canton Network. Over the past week, Canton Coin rose about 27%, while Bitcoin and Ether slipped around 0.5% and Solana fell roughly 3.3%, according to CoinGecko. The announcement underscores growing institutional momentum behind tokenized real-world assets.

Bitcoin is currently trading between $87,700 and $88,000, about 30% below its all‑time high from October 2025. According to CryptoQuant analyst Woo Minkyu, the Combined Market Index has slipped below equilibrium with readings under 0.4, a pattern consistent with early bear phases. Sentiment is weak as CoinMarketCap’s Crypto Fear and Greed Index shows a reading of 28.

Following the April 2024 halving, miners faced the most severe margin squeeze in 2025 and accelerated shifts into AI, HPC and consolidation to stabilize revenue. With the subsidy fixed at 3.125 BTC and the cycle extending into 2026, profitability increasingly hinges on energy costs, fee income and financing choices.

On December 25, 2025, the Bank of Russia said it has readied a regulatory framework that would permit both qualified and retail investors to trade digital currencies and stablecoins, while keeping a domestic payments ban. Retail buyers must pass a risk test and face a 300,000 rubles, or about $3,800, annual limit through one intermediary, and qualified investors can purchase without volume caps after testing.