Stablecoin Usage Could Reach 10%
Standard Chartered and Zodia Markets predict that stablecoin adoption could reach as much as 10% of US M2 and foreign exchange transactions. Currently, that figure is at 1%, but as the sector gains regulatory legitimacy, that goal could be realized. Analysts are positioning stablecoins as a viable alternative for cross-border payments, trades, and money transfers, highlighting inefficiencies and opaque fee structures in traditional payment systems like SWIFT. A YouGov survey suggests that stablecoin adoption is strong in emerging markets like Turkey, Brazil, and Nigeria, where users appreciate the ability to hold tokenized versions of their fiat currencies directly in their wallets. The total stablecoin market cap has reached $190 billion, with fiat-backed coins like USDT (73%) and USDC (21%) dominating the market. Regulatory advances by the Trump administration could further accelerate growth in the sector.
$127 Million Payment from Celsius
Bankrupt crypto lending platform Celsius is distributing $127 million to creditors as a second payment. That payment covers about 60% of the claims at the time of the bankruptcy filing. The first payment, which came in January, was worth $2 billion and covered 57.65% of the eligible claims. The company, which filed for bankruptcy in 2022 with a $1.2 billion deficit, has since emerged from bankruptcy. Former CEO Alex Mashinsky faces fraud charges and faces up to 115 years in prison. The payments will be made in cash or crypto assets, depending on creditor eligibility.
Stablecoin Market at Record Level
The global stablecoin supply has reached a record high of $191.6 billion. USDT has a 69% market share with a market cap of $133 billion, while USDC is second at 21%. The market cap of stablecoins has increased by 50% since the beginning of 2024, buoyed by renewed interest in the sector and the Trump administration’s crypto-friendly stance. The sector has recovered from the TerraUSD crash in 2022 and is exploring broader applications, such as Tether’s first crude oil transaction. Regulators in the UK and other countries plan to create regulatory frameworks for stablecoins, which could boost stablecoin adoption in global trade and cross-border payments.
Uniswap’s $38 Billion Volume
Uniswap reached a record $38 billion in monthly transaction volume on Ethereum Layer 2 (L2) networks in November. Arbitrum led the way with $19.5 billion in transaction volume, while the Base network, backed by Coinbase, came in second with $13 billion. Uniswap’s success reflects the revival in the DeFi sector, which Arthur Cheong has described as the “DeFi Renaissance.” The reshaping of traditional finance with blockchain and smart contracts is fueled by trends such as improved infrastructure, regulatory clarity, and liquid staking. This transformation signals the maturation of DeFi as a scalable and trust-based financial alternative.
New ETF Proposal from Bitwise
Bitwise Asset Management has filed with the SEC a proposal for an ETF based on a 10 Crypto Index Fund. The fund offers diversified exposure across 10 leading crypto assets, including Bitcoin (75.1%), Ethereum (16.5%), and Solana (4.3%). Coinbase Custody and Bank of New York Mellon will oversee crypto assets and cash reserves, while pricing data will come from CF Benchmarks. Bitwise has been growing aggressively, surpassing the $10 billion asset under management threshold, and has also filed for Solana and XRP ETFs. While news of Trump’s election and SEC Chairman Gary Gensler’s resignation have boosted optimism in the sector, regulatory challenges for altcoin ETFs remain.
Bitcoin Miners at $40 Billion
The market value of publicly traded Bitcoin miners has doubled in seven months to $40 billion as the price of Bitcoin approached six figures. Bitcoin’s hash rate has remained above 700 EH/s for more than a month, while mining difficulty is expected to increase by another 3%, marking its fifth consecutive halving. Falling rewards and rising costs after the April halving have encouraged miners to focus on AI and high-performance computing. While companies like MARA Holdings have increased their Bitcoin reserves, the CoinShares Valkyrie Bitcoin Miners ETF has gained 60% since the beginning of the year, but has lagged Bitcoin’s 113% gain.
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BITCOIN (BTC)
BTC is priced at 96,390 with a 0.78% gain as of the morning hours. The red resistance zone between 98,000 and 100,000 at the top is an important area that limits the upward movement of the price. The price tested this area but could not pass, which shows that there is strong selling pressure at this level. The level of 93,283.72 below is currently working as an important support area. In addition, the green area just above this level represents a demand area where the price can recover. If the price falls below this area, the level of 86,628.74 may appear as the next important support point. In the current situation, the price is showing a recovery towards the resistance area, but a strong volume increase may be required to overcome this area. If the resistance area is broken, the price can be expected to rise above the 100,000 level. However, a rejection from this zone could pull the price back towards the 93,283.72 level.
ETHEREUM (ETH)
ETH is priced at $3588 with a 0.56% gain as of the morning hours. The price is currently trading at 3,591.30. The orange zone between 3,800 – 3,850 above is an important resistance level that the price may encounter in its upward movement. It can be thought that the price may test new peak levels in the event of a strong break above this level. When looking at the support levels below, the levels of 3,248.52 and 3,175.47 appear to be important demand areas. If the price manages to hold above these levels, the upward trend can be expected to continue. However, if a break occurs below these areas, the price is likely to decline towards the lower support level of 2,819.69. In addition, the blue demand zone in the 3,000 – 3,100 region on the chart has worked as a strong support in previous movements and allowed the price to recover. This area may act as active support again in a possible pullback.
RIPPLE (XRP)
XRP is priced at $1.5665 with a 1.58% increase in value as of the morning hours. XRP, which started the new day positively after a two-day rise series, seems to have broken the important resistance level of $1.4965 during the night hours and maintained its stability above it. If the positive trend continues, it can be expected that the first level will be 1.6323, then 1.7016 will act as resistance. In a possible negative trend, the $1.4964 level will act as support again. If it cannot hold on to this level, faster sales may come to the $1.3824 level. For this reason, it is important for investors to carefully monitor the critical support and resistance levels determined.
AVALANCHE (AVAX)
AVAX is priced at $43.23 with a 1.08% gain in value as of the morning hours. It seems to have tested the $43.72 resistance level in the morning hours and was rejected. It can be expected to test this level again during the day. If the level is broken and candles close above it, the 44.56 – 45.16 band may work as resistance. Then the other resistance level is 48.25. In a possible negative trend, the $41.24 and $40.05 levels may work as critical support. If these levels are broken, a pullback to $37.75 levels may be seen. Therefore, it is important for investors to carefully monitor the determined critical support and resistance levels.
SOLANA (SOL)
SOL is priced at $240.66 with a 1.29% increase in value as of the morning hours. For SOL, which started the new day positively, it will be important for it to break the $248.13 level and maintain its permanence above it in order to continue the positive trend. Then, the $259.94 level can be expected to work as resistance. In a possible downward movement, the 233.34 – 229.46 area can be expected to work as support. If it cannot hold on to these levels, it may face deeper sales down to the 221.68 level. Therefore, it is important for investors to carefully monitor the determined critical support and resistance levels.
