Uniswap governance passed the UNIfication proposal on 25 December, with 125,342,017 UNI votes in favor and 742 against, exceeding the 40 million UNI quorum. The plan includes a one-time burn of 100 million UNI from treasury and, after a two-day timelock, activation of protocol fee switches and the removal of frontend fees.

Ethereum is drawing liquidity as traders reduce Bitcoin exposure. Between 24 November and 8 December, ETH/BTC rose about 14%, per TradingView, and over the past 24 hours liquidations were nearly balanced at $67.42 million longs versus $64.53 million shorts. Derivatives data from Alphractal also show BTC perpetual activity dropping while ETH contracts hold near 17 million.

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 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.

As the year approaches its close, Bitcoin is consolidating and retaining a dominant share of overall crypto market value while many smaller tokens lag in attention. In this environment, three sub-$1 projects are drawing interest: Bitcoin Hyper with a presale above $29.7 million and 39% APY staking, Maxi Doge with over $4.3 million raised and a 72% APY offer, and Midnight’s NIGHT token trading below $0.10. These altcoins position themselves around Bitcoin Layer 2 DeFi access, trader-focused meme coin utilities, and Cardano-linked privacy infrastructure heading into 2026.

Ethereum’s price is still capped below the $3,000 level and the 200-day exponential moving average, even as exchange balances continue to decline and whale accumulation grows. Futures market data shows that over 70% of open ETH perpetual positions are long, creating a crowded leverage setup with elevated liquidation risk. Momentum indicators remain subdued, pointing to a coiled market structure that could precede a sharp volatility spike.

CryptoQuant reports Binance XRP futures open interest has dropped to about $453 million, the lowest since the end of 2024. OI previously topped $1 billion earlier and mid-2025 during speculative surges but has trended lower as leverage unwinds. XRP is near $1.87 after slipping below $2.00 and $1.90, with mixed on-chain signals.

Shiba Inu has declined 14.53% so far in December 2025, continuing a pattern of negative December performance that dates back to 2020. The token is trading around $0.000007174 on Christmas Day, with volume down 10.29% to $77.93 million amid lighter holiday activity. Bulls are watching for a possible Santa Claus Rally toward $0.00000765, while key resistance sits at $0.00000843 and $0.00001125 and support is expected near the $0.000007 area.