Ribbon Finance Enables Altcoin Options Trading

Subreddit Token Price Slide Following SurgeReddit’s subreddit community tokens, Moon and Brick, having experienced a remarkable surge in prices last week fueled by a significant increase in trading volume, have taken a downward trajectory, plummeting in price.Photo by Mike Petrucci on UnsplashCrypto.com token listingThe Moon token, associated with Reddit’s r/CryptoCurrency community boasting over 6.5 million members, shot up from approximately $0.09 to nearly $0.58 on July 19, just after Singapore trading platform Crypto.com listed the token.Concurrently, trading volume spiked to around $3 million on Wednesday, marking an impressive boost.Similarly, the Fortnite subreddit community token, Brick, which Crypto.com distributes as a reward to contributors of r/Fortnite, also witnessed a substantial price surge. The token’s value surged from $0.01 on July 17 to approximately $0.10 on July 19, according to data from CoinGecko.Surge acknowledgedIn response to the sudden price surges, Crypto.com released a note early on Monday, acknowledging the surge both tokens had experienced recently. However, in a swift turn of events, both tokens experienced a significant downturn in the past 24 hours, with their prices plummeting by over 20%.As of midday (ET) on Monday, Moon was trading at $0.33, while Brick was valued just under $0.05, as reported by CoinGecko data. Moreover, trading volumes for both tokens have significantly contracted during this period of volatility. Moon’s volume shrank from over $1 million on July 23 to approximately $200,000 on Monday. On the other hand, Brick’s volume saw an even more drastic decrease, falling from approximately $210,000 on July 23 to a mere $26,000 on Monday.Terms of service changeMarket analysts speculate that the recent change in Reddit’s Terms of Service might have been the catalyst for the initial price increases. Reddit’s alteration of its Terms of Service on July 16 to permit users to trade community tokens and avatars potentially triggered the surge in token prices. It appears that Web2 centralized virtual goods such as coins and awards are making way for tradable Web3 community points.Speculating on the token price surge, Bobby Ong, the Co-Founder and COO of Malaysia-headquartered cryptocurrency data aggregator CoinGecko, wrote via Twitter last week: “Both tokens increased at the speculation of the changes coming at Reddit. No one knows exactly what is happening but Reddit deprecating Web2 Coins & Awards while allowing trading of their Web3 CPs could be something to monitor in the coming months.”Despite the recent downturn, the overall crypto space remains highly dynamic and unpredictable. Events such as the listing of tokens on prominent trading platforms can cause rapid price fluctuations. As always, that scenario makes it essential for investors to approach these assets with caution.While Moon and Brick may have encountered a sharp decline, the cryptocurrency market, in general, has proven its resilience and ability to rebound with Bitcoin currently holding a unit price of $29,125. As the market continues to evolve and gain wider acceptance, investors will need to continue to exercise caution and consider the volatility inherent in digital assets.

As the cryptocurrency market’s sluggish performance stretches into another year, South Korean investors have largely engaged in a wait-and-see approach. According to local media outlet Dailian, users are now checking prices only occasionally rather than trading actively, a shift evidenced by sharp declines in engagement metrics at the country’s two dominant exchanges, Upbit and Bithumb.Photo by NordWood Themes on UnsplashHigh retention, low activityData from Mobile Index reveals a stark contrast between user retention and actual activity. Throughout 2025, monthly active user (MAU) levels remained relatively stable—Upbit recorded as many as 4.7 million MAUs, while Bithumb reached approximately 2.7 million at its peak. This suggests that while the market downturn has dampened enthusiasm, it has not driven users to exit the ecosystem entirely. However, the time users spent on these platforms plummeted as liquidity dried up. In January 2025, ample market liquidity drove aggressive trading behavior; Upbit users spent an average of 7 hours and 30 minutes on the app during the month. By December, that figure had crashed to just 2 hours and 30 minutes—a 66.4% decline. Bithumb experienced a similar contraction, with average monthly usage falling from 233 minutes in January to 120 minutes in December. Aggregate usage followed the same downward trajectory. On Upbit, total monthly time spent across the user base fell from 35.66 million hours in January to 10.54 million hours in December. Bithumb saw total hours drop from 10.63 million to 4.65 million over the same period. The altcoin freezeThis reduction in screen time correlated directly with collapsing trading volumes. Upbit’s daily trading volume shrank from approximately 270 trillion won ($187 billion) in January to 52 trillion won ($36 billion) in December. Bithumb saw a proportional decline, dropping from 85 trillion won ($59 billion) to 24 trillion won ($17 billion). Analysts attribute this trend to a capital concentration in major assets like Bitcoin, which hit a new all-time high in October. Conversely, altcoins—which typically account for a disproportionately large share of trading volume in South Korea—failed to spark a rebound. Despite aggressive listing strategies—Upbit listed 73 new tokens and Bithumb added 156 last year—the influx of new assets failed to prompt a broader rally. One industry expert noted that none of the newly listed tokens managed to stand out, adding that the decline in Bitcoin prices later in the year further soured sentiment toward altcoins. The expert also highlighted that stronger performance in traditional asset classes, including U.S. and South Korean equities and gold, drew capital away from the crypto sector. However, another analyst offered a less pessimistic interpretation, suggesting that 2025 was not a year of investor exodus but rather one of dormancy. Investors chose to stay on the sidelines due to a lack of clear profit opportunities, implying that a resurgence in altcoin momentum could restore trading activity. Institutional giants push forwardDespite the retail lull, traditional financial institutions are actively exploring the sector, positioning themselves for future utility. Last month, BC Card signed a memorandum of understanding with U.S.-based exchange Coinbase to test USDC payments at South Korean merchants. The pilot program aims to integrate Coinbase’s Base blockchain wallets with BC Card’s QR payment infrastructure. Simultaneously, the broader card industry is preparing for the second phase of crypto legislation, which is expected to focus on stablecoin regulation. Nine credit card companies—including Samsung Card, Shinhan Card, and KB Kookmin Card—plan to form a task force this month under the Credit Finance Association (CREFIA). This initiative will focus on building an end-to-end system for stablecoin-based card payments and merchant settlements, including pilot tests for stablecoin-linked debit cards usable at standard payment terminals. Investment interest also remains alive in the corporate sector. Mirae Asset Financial Group is reportedly considering acquiring Korbit, the country’s fourth-largest exchange, through its subsidiary Mirae Asset Consulting. Market observers estimate the potential deal could be valued at up to 140 billion won ($97 million). 

Sygnum Bank, a digital asset bank based in Switzerland and Singapore, has conducted a survey which has identified that investors in Singapore are more interested in increasing their allocation to crypto than their international peers. The bank’s 2024 Future Finance survey states that while a global average of institutional investors of 47% plan to increase their exposure to crypto next year, in the case of Singapore-based institutional investors, 57% of them expressed the view that they would increase their crypto holdings in 2025.Photo by Precondo CA on UnsplashThe report states:  "Singapore investors exhibit a higher risk appetite and motivation to invest on average than respondents from other countries.” The annual survey, which was published on Nov. 14, collated insights garnered from more than 400 institutional and professional investors, distributed across 27 countries, with average investor experience of in excess of 10 years. 121 of the survey’s participants were based in Singapore, with the survey having been conducted during Q3 2024. Long-term confidenceSingaporean respondents suggested that they were confident in the long-term potential and outlook where cryptocurrencies are concerned. While the main reason for investing in crypto was to gain exposure to digital assets in line with a global trend (56%), 41% of respondents from the city-state cited portfolio diversification as their reason for investing in the emerging asset class.  75% of investors expressed the belief that regulatory clarity has improved recently. Growing confidence among institutional investors generally is likely to be developing due to increasing certainty relative to digital asset regulation. While Donald Trump had not been elected in the United States at the time that survey participants responded, it was looking increasingly likely that he would win the election.  That’s likely to have had a bearing on investor outlook, not just within the United States but internationally, given the implications in terms of positive regulation and an overall positive approach to crypto. 39% of Singaporean respondents cited yield-generation opportunities as their motivation in investing in digital assets. The recent advent of spot crypto exchange-traded funds (ETFs) stood out as another motivation for investors.  Breaking down specific areas of interest within the crypto sector, 71% of Singaporean respondents were interested in investment in layer-1 blockchain networks. Meanwhile, 56% expressed an interest in Web3 infrastructure investment options, with 41% showing an interest in layer-2 blockchain networks. Interest in asset tokenizationIn relation to tokenization, 47% of those surveyed in Singapore indicated an interest in tokenizing mutual funds and corporate bonds over and above other financial assets and products. When first proposed, real estate was considered the most obvious asset primed for tokenization but mutual funds and corporate bonds now appear to be gaining more traction. Asset tokenization has been garnering considerable attention in mainstream finance but especially so in Singapore. Local regulator, the Monetary Authority of Singapore, (MAS) has been running Project Guardian, a collaboration between MAS and the financial services industry with an emphasis on asset tokenization. The project recently brought in the German central bank, the World Bank, HSBC and markets infrastructure firm Euroclear as participants.