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Whale Alert reported that 80,000 ETH has been transferred from Binance to Binance Beacon Deposit. The transaction is valued at about $237 million.

Whale Alert reported that 68,000 ETH has been transferred from an unknown wallet to Binance. The transaction is valued at about $201 million.

An address believed to belong to Ethena Labs transferred 23.3 million ENA, valued at approximately $4.74 million, to FalconX about nine hours ago, according to an analysis by Onchainlens. The on-chain analysis firm suggested that the deposit was likely made with the intent to sell the tokens. Onchainlens added that the wallet in question still holds 123.4 million ENA, worth around $25 million.

Hunter Horsley, CEO of Bitwise, stated on X that sharp declines, periods of fear, and emerging theories that the market is finished have historically been followed by bull markets and new all-time highs. He noted that this pattern has been observed numerous times in the cryptocurrency market. Horsley pointed out that this pattern was evident even this year, with a bearish first quarter followed by strong second and third quarters. He added that people are surprised again by the current downturn and will likely be surprised once more if the market trends upward in the first quarter of next year. Horsley has previously forecasted the arrival of a major crypto bull market in 2026.

A clear slowdown in Bitcoin demand growth suggests a transition to a bear market, according to a report from on-chain data platform CryptoQuant on Friday. The analysis stated that the rise in spot demand, which had been driven by the launch of U.S. spot ETFs, the election of President Donald Trump, and a bubble in companies strategically accumulating Bitcoin, has fallen below its upward trendline since early October. CryptoQuant explained that this indicates the accumulation demand for the current cycle has likely been absorbed, removing a key pillar of price support. The report added that demand from institutions and large-scale investors has also entered a contraction phase, while risk appetite in the derivatives market is weakening. It concluded that historically, a bear market has often followed when demand growth peaks and reverses, regardless of supply-side dynamics.

The WLFI deployer address, which begins with 0x407, deposited 10 million WLFI ($1.3 million) to Binance approximately 20 minutes ago, according to on-chain analyst ai_9684xtpa. The analyst noted that this marks the first time the address has made a large-scale deposit to an exchange and suggested the transfer could be intended to provide liquidity.

Liquidity fragmentation across blockchain networks is causing significant economic losses in the tokenized asset market, with such capital inefficiencies leading to an annual market value decline of up to $1.3 billion, according to a recent report from real-world asset (RWA) data provider RWA.io, as reported by Cointelegraph. The report stated that due to this fragmentation, the RWA market tends to operate more like a series of disconnected markets than an integrated financial system. It is common for the same asset to trade at different prices on various blockchains, and moving capital between networks remains costly and complex. The report argued that these inefficiencies hinder the market's ability to self-correct through arbitrage, a mechanism that promotes efficient price discovery, and identified liquidity fragmentation as the biggest obstacle to the RWA market realizing its potential multi-trillion-dollar scale.

American Depositary Receipts (ADRs) for Metaplanet, a publicly traded Japanese company that holds Bitcoin as a key corporate asset, began trading on the U.S. over-the-counter (OTC) market on Dec. 19, Coindesk reported. The ticker for the ADR is MPJPY. This development allows U.S. investors to invest in Metaplanet using U.S. dollars without needing to open a Japanese brokerage account. Deutsche Bank, Germany's largest bank, is serving as the depositary, while Mitsubishi UFJ Financial Group (MUFG), one of Japan's three largest banks, is acting as the custodian.

BitMEX co-founder Arthur Hayes has transferred 508.647 ETH, worth approximately $1.5 million, to crypto financial services firm Galaxy Digital, according to an analysis by Lookonchain. The on-chain analytics firm suggested that the move was likely in preparation to sell the assets.

The combined average daily trading volume of major global prediction market platforms has reached approximately $500 million, according to an analysis by DeFi analytics layer Sentora (formerly IntoTheBlock). Sentora added that leading platforms such as Polymarket, Kalshi, Limitless, and Opinion have experienced significant growth this year.

South Korea is considering allowing domestic initial coin offerings (ICOs) for the first time since a blanket ban was imposed in 2017, Maeil Business Newspaper reported exclusively. The change could take effect as early as next year. The report cites a draft document from South Korea’s Financial Services Commission (FSC) outlining key provisions for the country's Digital Asset Basic Act. According to the document, the FSC aims to permit domestic digital asset sales with sufficient information disclosure to curb the practice of projects issuing tokens overseas before listing on local exchanges. The draft also specifies new regulations for stablecoins, which would prohibit the domestic trading of overseas stablecoins like USDT and USDC unless their issuers establish a physical presence in South Korea. These proposals are part of the second phase of legislation for the Digital Asset Basic Act. In an official statement, the FSC clarified that the contents of the second-phase law have not been finalized and that discussions with relevant agencies are still underway.

Ripple announced on Dec. 18 that it has entered into a strategic partnership with TJM Investments, a securities broker registered with the U.S. Financial Industry Regulatory Authority (FINRA), and TJM Institutional Services, a broker registered with the U.S. National Futures Association (NFA). According to its official website, Ripple will invest an undisclosed amount in TJM as part of the deal and will continue to provide infrastructure to support TJM's trade execution and clearing services. Ripple's multi-asset prime brokerage platform, Ripple Prime, has reportedly been a long-term partner of TJM.

Cryptocurrency exchange Bybit has re-entered the UK market two years after its withdrawal, CoinDesk reported. The exchange previously exited the country after the UK's Financial Conduct Authority (FCA) imposed strict regulations on the advertising and marketing of crypto services. Bybit will now conduct its operations and marketing under the supervision of Archax, a local cryptocurrency exchange licensed by UK regulators. Archax stated that it is helping Bybit achieve regulatory compliance, drawing on its experience assisting other major global exchanges like Coinbase and OKX in entering the UK market without their own licenses.

Hong Kong expects to grant its first stablecoin issuance licenses in early 2025, prioritizing applicants with sound reserve management, price stability mechanisms, and anti-money laundering measures, said Christopher Hui, the city's Secretary for Financial Services and the Treasury. According to the Hong Kong Economic Journal, Hui noted that 36 applications from various sectors had been received as of the end of September this year. He added that the review process will focus on foreign exchange reserve management and AML compliance. Previously, the Hong Kong Monetary Authority (HKMA) stated in October that it would review and approve applications based on new regulatory requirements once the city's stablecoin ordinance is enacted.

Decentralized exchange Hyperliquid experienced net outflows of over $430 million this week, marking the third-largest weekly outflow in its history, Wu Blockchain reported. The exchange's assets under management have also declined, falling from $6 billion in September to a current level of $4 billion.

Swedish digital asset manager Virtune announced on Dec. 19 that it has launched a Bittensor (TAO) exchange-traded product (ETP) on Nasdaq Stockholm, the largest stock exchange in the Nordic region. According to Virtune, the product aims to provide investors with a secure and cost-effective way to invest in TAO. This follows the October launch of a Staked Bittensor ETP on the Swiss stock exchange SIX by German crypto ETP provider Deutsche Digital Assets (DDA). TAO is currently trading at $228.82, up 0.66%, according to CoinMarketCap.

A group of individuals has been referred to South Korean prosecutors for allegedly attempting to purchase the stablecoin Tether with 400 million won (around $290,000) in counterfeit banknotes, News1 reported. The suspects are accused of an unsuccessful attempt to trade bundles of fake 50,000 won bills for the cryptocurrency in front of Cheonan-Asan Station in the city of Asan.

A newly created anonymous wallet withdrew 3,500 ETH, valued at $10.23 million, from Binance in its first-ever transaction earlier today, according to The Data Nerd. The wallet subsequently withdrew an additional 2,135 BNB ($1.79 million) from Binance and 3.743 million USDT from Bybit.

Despite the cryptocurrency market falling 13% year-to-date and BTC undergoing an 8% correction, some analysts argue this is a healthy adjustment rather than the start of a bear market. According to CryptoPotato, Bloomberg Senior ETF Analyst Eric Balchunas noted that BTC has surged 468% over the past two years, an annualized return of 138% that is eight times that of U.S. stocks. He assessed that this year's correction represents giving back only a small fraction of those substantial gains. Futures trader Toni added that the market is in a healthy consolidation phase, not a downturn. He emphasized that several factors have supported a bull market this year, including a pro-crypto policy stance in the U.S., record highs in stock and commodity markets, institutional investor inflows, and an expanding global money supply. Toni also remarked that market rebounds typically begin when traders are exhausted and frustrated, not when they are optimistic.

Bitcoin has moved out of its oversold state, according to crypto analyst MorenoDV in a contribution to CryptoQuant. The analysis points to the NVT (Network Value to Transactions) Golden Cross indicator, which has rebounded from -0.58 to 0.32. A reading above 2.2 on this metric typically indicates overbought conditions, while a level below -1.6 signifies an oversold market. The analyst explained that the NVT Golden Cross reached its lowest level of the current cycle, which could structurally suggest a short-term bottom has been established. He added that the indicator is now entering a gradual recovery phase.

South Korea’s Financial Services Commission (FSC) is pushing to enact a new Digital Financial Security Act aimed at preventing hacks on virtual asset service providers, Digital Asset reported. The FSC disclosed the plan on Dec. 19 in a business report to the presidential office, citing the recent hack at the South Korean exchange Upbit, which resulted in the loss of 44.5 billion won ($32.2 million) in virtual assets, as a key example. The proposed legislation is expected to cover financial companies, electronic financial service providers, and virtual asset service providers. The FSC also stated it plans to strengthen its response system for new types of offenses, including cross-border crime and money laundering. Additionally, the commission intends to establish a comprehensive regulatory framework for digital assets that includes rules for stablecoins.

Ontology (ONT) announced via its official X account that it has updated the tokenomics for Ontology Gas (ONG), burning 200 million tokens and setting the new total supply at 800 million ONG.

According to CoinNess market monitoring, BTC has risen above $88,000. BTC is trading at $88,010.44 on the Binance USDT market.

Magic Eden is evolving beyond a simple NFT marketplace into a crypto entertainment platform aimed at a mass audience, according to a report from Asia-based Web3 research and consulting firm Tiger Research. The report stated that Magic Eden first built its financial infrastructure with multi-chain wallets and asset exchange tools. It then enhanced user engagement and rewards through gamified elements like "Lucky Buy" and "Packs," alongside a token buyback program that uses 30% of its revenue. Tiger Research added that the platform is leveraging its rapid execution and market judgment to expand into high-value areas like prediction markets and integrate mobile wallets, aiming to become a key gateway for entering Web3.

Binance Alpha has announced the removal of nine tokens—BUZZ, DARK, FROG, GORK, MIRAI, PERRY, RFC, SNAI, and TERMINUS—at 7:00 a.m. UTC on Dec. 19.