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Ripple CEO, Deaton Criticize Bob Stebbins Candidacy for SEC Chair Position: Here’s Why

Lele Jima
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Ripple CEO, Deaton Criticize Bob Stebbins Candidacy for SEC Chair Position: Here’s Why

Crypto stakeholders, including Ripple CEO, raise concerns about Bob Stebbins’ candidacy for the SEC Chairmanship position, citing his past unfavorable regulatory actions. 

Investors have been optimistic about the future of the global crypto industry under Donald Trump’s administration. Consequently, many have closely followed the nominations of individuals into top roles, like the SEC and Treasury.  

So far, Trump’s transition team has appointed several pro-crypto candidates, including Elon Musk for Head of Department of Government Efficiency (D.O.G.E) and Robert F. Kennedy Jr. as Secretary for Secretary of Health.

However, Trump has not announced who will replace Gary Gensler as the chairperson of the U.S. SEC. As observed over the past years, the federal agency could decide the fate of the crypto industry. As a result, the crypto community advocates for a pro-crypto candidate to become the next SEC chair.

Industry Leaders Criticize Bob Stebbins Candidacy for SEC Chair 

Notably, Bob Stebbins, a former SEC General Counsel, has emerged as the major contender for the SEC chair position. This has triggered concerns among crypto stakeholders like Ripple CEO Brad Garlinghouse.

Ripple CEO 

The Ripple CEO criticized Stebbins’ potential appointment as SEC chair, suggesting that his direct involvement in William Hinman’s efforts to pick winners and losers in crypto through the 2018 infamous Hinman speech reflects his unethical behavior.

For context, Hinman issued a controversial speech in 2018 at the Yahoo Finance Summit, favoring Ethereum by labeling ETH a non-security while sidelining other crypto assets.  

Furthermore, Garllinghouse believes that Stebbins’ appointment would mark the industry’s return to the regulation-by-enforcement era. The current SEC leadership has been criticized for preferring this regulatory approach, which has led to the introduction of several punitive actions against crypto businesses.

Pro-Crypto Lawyer  

Notably, Attorney John Deaton, former U.S. Senate Candidate and pro-XRP lawyer, opposed Stebbins’ potential appointment, who he suggested was picked by former SEC Chair Jay Clayton.

The pro-crypto lawyer highlighted Stebbins’ controversial approach to crypto regulation, which includes introducing 80 enforcement actions against crypto businesses and his refusal to declare ETH a non-security as part of efforts to promote regulatory ambiguity. 

Interestingly, Deaton tagged the U.S. President-Elect and other pro-crypto appointees, urging them not to make a major mistake by appointing Stebbins for the SEC chairmanship position.

“Picking Stebbins is the opposite of what you claimed you wanted to do related to our federal agencies,” he asserted. 

Messari Crypto Founder 

Ryan Selkis, the founder of Messari Crypto, also criticized Stebbins’ candidacy for SEC chair, describing him as a securities law maximalist and a ‘no bueno’ for the crypto industry. 

In a previous X post, Selkis kicked against implementing the KYC (know-your-customer) requirement for decentralized finance (DeFi), suggesting that this move could destroy the U.S. DeFi space.

He recommended the appointment of former commissioner Paul Atkins and former Binance U.S. CEO Brian Brooks as SEC Chair due to their understanding of the tech.  

In the meantime, Trump has not officially announced who would become the next SEC Chair. The U.S. President-Elect promised to support pro-crypto regulations, which could potentially end the SEC’s multi-year enforcement actions against the industry. However, the next SEC Chair will be instrumental in achieving this goal. 

Cardano Founder and Ripple CTO Hint at Upcoming Partnership

Sam Wisdom Raphael
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Cardano Founder and Ripple CTO Hint at Upcoming Partnership

The crypto industry could be on the verge of witnessing a historic collaboration between Cardano and Ripple, two of the most prominent crypto ecosystems. 

Speculation emerged following recent interactions between Cardano’s founder Charles Hoskinson and Ripple’s CTO David Schwartz, signaling a potential partnership centered around Cardano’s privacy-focused sidechain, Midnight.  

Midnight, unveiled at ScotFest 2022, seeks to address privacy and compliance challenges. It employs technologies like zero-knowledge proofs (zk-SNARKs) and a next-generation virtual machine, enabling confidential transactions and private smart contracts while maintaining regulatory compatibility. 

Hoskinson and Schwartz Hint at Potential Partnership

In a surprise AMA session on Nov. 17, Hoskinson addressed community queries about the potential synergy between Cardano and Ripple. He expressed optimism about integrating Midnight with XRP’s ecosystem. 

According to him, such collaboration could bring Cardano’s decentralized finance (DeFi) tools to XRP while leveraging Ripple’s liquidity and stablecoin solutions, such as the RLUSD stablecoin, expected to launch sometime this year.

The ongoing discussions about a potential partnership between Cardano and Ripple gained further traction following a social media post from Charles Hoskinson.

Taking to X, Hoskinson noted his productive discussion with Schwartz about Midnight, discussing its potential within XRP’s ecosystem. Schwartz reciprocated with admiration, describing Midnight as an intriguing project.

Interestingly, the discussion around zk-SNARKs (zero-knowledge proofs) emerged as a point of interest during these interactions. Attorney Jeremy Hogan sought clarity on the topic, triggering a response from the Ripple CTO. 

The cryptographic concept is crucial to Midnight’s functionality, allowing users to verify data without exposing sensitive details. Schwartz described zkProofs as a way to prove possession of a solution without revealing the solution itself.

Cardano and Ripple’s Healing Relationship

This engagement comes on the heels of a reconciled relationship between the Cardano and XRP communities. A longstanding feud—sparked by Hoskinson’s remarks on Ripple’s legal issues—led to a rift. However, Hoskinson recently apologized to the XRP community, emphasizing unity in the crypto space. 

Both ecosystems stand to benefit from this potential alliance. Ripple’s established network of financial institutions and focus on liquidity solutions could complement Cardano’s innovation in privacy and scalability. 

Adopting Ripple’s technologies into Midnight might enable enhanced privacy solutions for stablecoins and cross-border transactions. At press time, no official announcement has come up from either front with sufficient details to ascertain the nature of the partnership.

Meanwhile, the development of Midnight is on track, with Hoskinson recently confirming that progress has continued as anticipated following the deployment of the first-ever zkApp on the sidechain. Recall that the development team successfully launched the Midnight testnet early last month.

Analyst: XRP Can Hit $8 to $17 if Its Market Dominance Reaches 10% to 20% of Ripple CEO’s Projected $5T

Sam Wisdom Raphael
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Analyst: XRP Can Hit $8 to $17 if Its Market Dominance Reaches 10% to 20% of Ripple CEO’s Projected $5T

A notable market analyst sees XRP reaching new heights if it can capture 10% to 20% of the global crypto market cap projection from the Ripple CEO.

XRP’s market cap dominance has risen following the token’s recent resurgence above $1 for the first time in three years. Amid the spike to $1, XRP’s market valuation surged beyond $60 billion, allowing it to again become the sixth-largest crypto asset.

This has led to an increase in market dominance for the altcoin. Currently at 2.09%, XRP’s dominance has nearly doubled from its 1.05% low in June. 

XRP Could See Dominance Spike

Meanwhile, according to crypto analyst EGRAG, historical market data and Fibonacci-based analysis suggest that XRP could achieve more impressive dominance gains.

Calling attention to past market cycles in 2017 and 2021, EGRAG used Fibonacci levels to identify areas where XRP’s dominance could break out. The 2017 cycle marked XRP’s peak dominance during its explosive bull run, while the 2021 cycle highlighted its more recent highs. 

EGRAG identified a confluence zone around the 5.9%-6% dominance level, where two major Fibonacci levels intersect: Fib 1.0 from the 2021 cycle and Fib 0.5 from the 2017 cycle. The convergence acts as a resistance zone, and a move above this level could signal the beginning of a dominance rally.

XRP Market Cap Dominance EGRAG Crypto
XRP Market Cap Dominance | EGRAG Crypto

Currently, XRP is exiting what EGRAG calls “The Shake Out,” a prolonged period of consolidation and subdued dominance. As the token moves toward the 2.5% dominance level, historical data suggests that the next major test lies at the Fib 0.5 level, roughly corresponding to 5.92% dominance. 

XRP Price Targets at 10% to 20% Market Dominance 

Closing above this threshold would invalidate bearish narratives and set the stage for a retest of higher Fibonacci levels, such as Fib 0.702 (11.61% dominance) or even Fib 1.618 (16.65% dominance). These levels align with a broader bullish case for XRP, where dominance could eventually reach a 10%-20% range.

EGRAG then called attention to the optimistic projection from Ripple CEO Brad Garlinghouse regarding the crypto market. Recall that in April, Garlinghouse predicted that the global crypto market cap could spike to $5 trillion by the end of the year. At the time, the global market cap stood at $2.58 trillion.

Interestingly, this figure has since increased to $3.1 trillion, with $1.9 trillion left to hit the $5 trillion mark. If this occurs and XRP captures 10% of this market, EGRAG points out that its price could rise to $8.77. Meanwhile, a 20% dominance would push the price to $17.54.

At press time, XRP changes hands at $1.12, down 1.06% over the past 24 hours but still performing better than most assets in the weekly timeframe. From this level, XRP would need to rally 683% to reach $8.77 and 1,466% to claim $17.54.

Cardano Founder Shares Who is Eligible for Midnight Airdrop 

Sam Wisdom Raphael
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Cardano Founder Shares Who is Eligible for Midnight Airdrop 

As the development of Midnight progresses, Cardano founder Charles Hoskinson recently gave hints on the eligibility criteria for its airdrop.

Hoskinson shared new information about the Midnight airdrop during a surprise AMA session on Nov. 17, triggering both excitement and discussions within the Cardano community. 

Midnight, a privacy-focused sidechain under the Cardano ecosystem, is looking to revolutionize blockchain privacy. However, questions about eligibility and distribution mechanisms remain unanswered, leaving the community eager for more information.

Hoskinson Discusses Midnight Airdrop Eligibility 

Recall that Midnight plans to introduce a dual-token model, incorporating both NIGHT and DUST. NIGHT tokens will serve governance and staking purposes, while DUST will act as the primary currency for transactions on the Midnight blockchain. 

In the AMA session, Hoskinson confirmed that ADA holders would be eligible for the DUST airdrop, which he referred to as a “glacier drop.” This process involves distributing Midnight’s Dust tokens to ADA stakeholders. 

However, recipients will need to participate in mining on the Midnight blockchain to fully acquire their tokens. Hoskinson highlighted that Cardano will be the primary platform for the token distribution, though more details are expected as the project progresses.

Growing Community Inquiries 

Tobes, the founder of ZKDID, shared an excerpt of the AMA session, with several community members asking questions about airdrop mechanics and eligibility criteria. While Tobes provided some answers, he admitted much of his input was speculative due to the lack of official clarity.

Responding to whether the airdrop depends on which pool users are delegating their ADA, Tobes suggested that an SPO would likely need to validate the Midnight chain. He speculated that eligibility might hinge on the stake managed by the SPO.

The community figure also addressed concerns about ADA stored on platforms like Kraken. He noted that eligibility might depend on whether the exchange runs a Midnight validator using user stakes. He advised investors to consider moving their stake to increase their chances of eligibility.

Another question raised was whether holding Cardano Native Tokens (CNTs) could substitute for ADA holdings. This remains uncertain, but Hoskinson did mention that the airdrop would go to “ADA holders.”

Midnight Development Progressing 

Midnight stands out for its commitment to privacy and regulatory compliance. It employs zk-SNARK technology to secure transactions, ensuring that sensitive data remains confidential. 

Despite the excitement surrounding Midnight, both investors and ADA holders await clearer guidelines. As Hoskinson indicated, more announcements will be made as the project approaches its next phase of development. For now, the focus remains on ensuring ADA holders are informed and prepared to participate.

In a previous disclosure, Hoskinson confirmed that the development of Midnight was moving smoothly, as a developer unveiled the first zkApp on the sidechain. Last month, the Cardano founder reacted to the launch of the Midnight testnet.

Here is the Most Positive Sign for XRP and Its Price Spike

Abdulkarim Abdulwahab
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While XRP recently shattered a three-year record amid its latest uptrend, the commendable feat has been marked by several factors.

In a recent analysis, Santiment disclosed that XRP’s multi-year high milestone follows significant accumulation from whale wallets holding between 1 million and 100 million XRP.

Deep XRP Buying Before Price Pump

Over the past week, this influential group has added 453.3 million tokens, equivalent to $526 million to their holdings. This substantial accumulation brought their collective holdings to nearly 18% of XRP’s circulating supply—the highest level in two months.

The surge in whale activity coincides with a contrasting trend among retail traders. Wallets holding less than 1 million XRP offloaded around 76 million tokens valued at $88 million over the same period, likely attempting to lock in short-term profits. 

This divergence in behavior shows a broader market narrative: while retail traders display hesitancy, major investors are doubling down on XRP’s long-term potential.

Image

According to Santiment, sustained whale accumulation has historically served as a bullish signal for any crypto asset. Large stakeholders tend to have a firm conviction in their investments, and their confidence can drive market cap growth.

The recent XRP price spike supports this theory, as whale-driven demand has offset retail selling pressure and fueled upward momentum.

Whales Control a Combined 45.61B XRP Supply

In response to Santiment’s analysis, community member Machzilla commented that most of the XRP supply will eventually be controlled by wealthy venture capitalists, institutional investors, and savvy retail investors who recognize its value. 

In his view, only a small fraction will be left to frustrated traders and those who regret betting against XRP’s positive momentum.

Santiment noted in an earlier report that wallets holding at least 1 million XRP controlled a combined total of 45.61 billion tokens as of November 14, the highest amount since June 2018.

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The analysis also highlighted that whales have adjusted their strategy over the past two years, accumulating an additional 3.44 billion XRP. Meanwhile, the price of XRP continued to decline until recently, when the effects of this multi-year accumulation began to take hold.

With XRP trading at $1.14, its price is up 6.5% today and has surged more than 101% over the past week.

XRP At Peak Popularity on Google Search

Another key factor behind XRP’s recent uptrend is the surge in public interest, as evidenced by Google Trends. According to the data, XRP’s popularity score peaked at 100 over the weekend—its highest level since April 2021.

Bitcoin Mirrors 2020 Rally After 28% Surge, Boosting Expectations for a $100K Run

Albert Brown
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Analyst Ali Martinez highlights that the recent 28% Bitcoin surge from its previous peak mirrors the 2020 trend, suggesting potential for further gains.

Over the weekend, Bitcoin exhibited significant resilience despite a brief dip below the $89,000 threshold on Sunday. This temporary drop, driven by bearish pressure, was quickly countered by strong buying activity, which propelled the cryptocurrency into a sharp V-shaped recovery. 

Currently, Bitcoin is trading at $89,804.34, reflecting a 0.88% decline over the past 24 hours. However, the broader trend remains positive, with the cryptocurrency posting a 9.26% gain over the past week.

Historical Patterns Suggest Growth for Bitcoin

A recent analysis by Ali Martinez highlighted similarities between Bitcoin’s current price movements and its behavior in late 2020. In the earlier cycle, Bitcoin surged 26% after breaking its $19,700 all-time high, consolidated briefly, and then climbed to $40,000. 

Martinez observed that Bitcoin has mirrored this trend recently, with a 28% rise after surpassing its previous peak and consolidating for six days. Indeed, after hitting $93K last week, Bitcoin lost momentum for further growth.

However, Martinez suggested that this pattern could indicate a repetition of past performance, suggesting further upside potential beyong $100K if the trend holds.

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Technical insights from Crypto Rover added weight to the bullish outlook, pointing to a broadening wedge pattern on the monthly chart.

The analyst shared a chart suggesting Bitcoin recently broke through its resistance, which aligns with the wedge’s upper boundary. According to the analysis, the breakout pattern implies a possible price target of $150,000 for Bitcoin.

Institutional Backing Strengthens Bitcoin’s Outlook

Institutional support has been another key factor driving optimism. Michael Saylor, Executive Chairman of MicroStrategy, recently stated that Bitcoin could surpass $100,000 by year-end.

Saylor attributed this projection to growing institutional adoption and reduced regulatory uncertainties. He highlighted the role of major players like BlackRock in boosting Bitcoin’s market credibility and fostering positive sentiment within the financial sector.

Saylor also pointed to political developments in the United States, emphasizing the impact of recent elections. He noted that the evolving political landscape is expected to bring regulatory clarity, which could pave the way for broader institutional participation. This shift, he argued, diminishes near-term risks and strengthens Bitcoin’s position as a viable investment.

Bernstein Cites 3 Factors That Could Push Bitcoin to $200K

Lele Jima
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Bernstein Cites 3 Factors That Could Push Bitcoin to $200K

Bernstein expresses confidence in its ambitious price prediction for Bitcoin, highlighting three factors that could propel BTC to the six-digit target by 2025 ending. 

In a note to its clients, Bernstein analysts, led by Gautam Chhugani, emphasized that Bitcoin is fast approaching its 2025 target of $200,000, noting that the prediction no longer looks delusional following BTC’s recent surge to almost $100,000. 

Bernstein Sets $200,000 Target for Bitcoin 

It bears mentioning that Bernstein first issued the $200,000 prediction in June 2024. Ever since, the company has remained optimistic about the prediction, emphasizing that Bitcoin would achieve the target by 2025. 

Earlier this month, specifically on the eve of the 2024 U.S. presidential election, the company asserted that Bitcoin’s price will surge to $200,000 by next year, irrespective of who wins the election. 

3 Factors That Could Push Bitcoin to $200,000 

Interestingly, Donald Trump’s victory boosted Bernstein’s confidence in the $200,000 prediction, thanks to his pro-crypto cabinet featuring prominent crypto enthusiasts like Pete Hegseth, Robert F. Kennedy Jr., and Elon Musk. 

Amid growing enthusiasm for crypto potential under Trump’s administration, Bernstein highlighted three factors that could propel BTC’s price to $200,000 by next year.  

Pro-Crypto Regulatory Promises 

First, Bernstein analysts cited Trump’s pro-crypto promises, which aim to elevate the United States to become the crypto capital of the world. 

The U.S. President-elect promised several initiatives for the crypto industry, including keeping anti-crypto lawmakers away from crypto and giving the CFTC more regulatory authority over the industry, drastically reducing the SEC’s regulation by enforcement approach against crypto businesses. 

Notably, the analysts speculated that implementing these promises could bolster investors’ confidence in crypto, fueling a sustained rally in the prices of Bitcoin and other altcoins like Ethereum. 

U.S. National Bitcoin Reserve 

The analysts identified Trump’s pledge of a national Bitcoin reserve as another catalyst that could push BTC to $200,000. They stated that the political process of establishing a Bitcoin reserve in the U.S. has commenced with Trump’s victory. However, they suggested that the initiative might take a longer legislative process before coming to fruition. 

In July, Senator Cynthia Lummis introduced the Bitcoin Act of 2024, proposing that the United States acquire 5% of Bitcoin’s supply over the next five years. The proposal suggests that the Secretary of State keep the assets for 20 years. 

Reacting, Bernstein analysts stated that while retail, institutions, and corporate clients drive Bitcoin’s demand in the current cycle, they expect sovereign entities to take the lead by the next cycle. 

Growing Institutional Demand 

Furthermore, the brokerage company highlighted the growing institutional demand for Bitcoin as another factor that could propel it to the $200,000 mark. This is reflected in MicroStrategy’s Bitcoin accumulation spree, increased Bitcoin ETFs’ assets under management (AUM), and miners’ continuous hoarding of Bitcoin. 

Analysts at Bernstein noted that these developments reduce the selling pressure on Bitcoin. They urged investors to hold BTC as the pro-crypto regulatory era has yet to price in. 

With Bitcoin currently trading at $89,903, the world’s largest cryptocurrency must surge 122.46% to hit the $200,000 mark. 

Expert Asserts XLM Space Launch is Imminent, Targeting an 850% Upsurge to $2.27

Elendu Benedict
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Expert Asserts XLM Space Launch is Imminent, Targeting an 850% Upsurge to $2.27

A reputable market expert asserts that XLM is on an ignition countdown, targeting an over eightfold upsurge from its current price.

Stellar (XLM) has become the latest cryptocurrency to engineer a breakout as the broader market bullish sentiment has rubbed off on the asset. While Bitcoin consolidates following its explosion to above $90,000, XLM has swung to a three-year price high.

The 20th-ranked cryptocurrency by market cap has surged an impressive 116% in the past seven days, rising beyond $0.200. Furthermore, XLM is up a staggering 144% in the past month, benefiting extensively from the prevailing bullish market momentum and following XRP’s path.

Meanwhile, XLM’s recent upsurge has drawn the attention of major market analysts, including seasoned commentator Egrag. In a Monday tweet, Egrag noted that the 116% weekly surge is the start of XLM’s space launch, predicting a rise to unprecedented price territories.

Countdown to XLM’s Explosive Upsurge

Egrag’s November 18 analysis shows further upsides remain for Stellar. The seasoned analyst noted that XLM’s “space launch” is imminent, expecting the bullish vibes around the coin to continue.

In an accompanying chart, Egrag based his assertions on a structural pattern, targeting the Inter Stellar Gateway zone. Per the chart, the analyst speculated that XLM would complete its wave-like price structure, anticipating a surge to the pattern’s high between $0.794 and $1.057.

Egrag Gateway
XLM Inter Stellar Gate way | EGRAG Crypto

Notably, the Inter Stellar Gateway zone surge would entail an upsurge between 233% and 343% from the current price. XLM would also grow past its current all-time high of $0.9381, attained in January 2018.

XLM to Repeat Last Cycle’s Success?

In another analysis, Egrag speculated that Stellar might replicate its price surge from the last cycle. For instance, XLM surged 3,162% from its low of $0.025 in March 2020 to the cycle’s top at $0.804 in May 2021.

Per Egrag’s attached chart, he asserted that XLM could achieve a similar feat in this cycle. Having already surged over 2,312% from this cycle’s bottom, Egrag expects a further 850% uptick to $2.2700.

Egrag XLM Analysis
Egrag XLM Analysis

Meanwhile, XLM begins the week on a high, soaring an impressive 16% in the past 24 hours. At press time, the asset trades at $0.2421 with a market cap of $7.2 billion.

Retail FOMO Drives Bitcoin Transactions Under $100K to 3-Year High: Is This a Warning Sign?

Albert Brown
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Retail FOMO Drives Bitcoin Transactions Under $100K to 3-Year High: Is This a Warning Sign?

Bitcoin sees a notable rebound as retail investor activity spikes, with rising small-value transactions signaling FOMO.

Bitcoin rebounded to $91,612 on Monday after a bearish weekend that saw its price dip to $87,000. The cryptocurrency gained 0.96% in the last 24 hours and 11.79% over the past week. This uptick coincides with rising retail investor activity, according to Ki Young Ju, CEO of CryptoQuant.

Young Ju pointed to a surge in small-value Bitcoin transactions under $100,000, marking a three-year high. This trend, indicated by Bitcoin’s Spent Output Value Bands (SOVB), reflects increased participation from retail investors. Typically, retail activity rises when market optimism grows, especially during upward price movements.

Small-Value Bitcoin Transactions

Data from CryptoQuant illustrates that transactions below $100,000 have become the most prominent segment in the SOVB metric. This surge in small-value transactions is a sign of rising retail investor activity. Historically, increased retail engagement often precedes broader market rallies, driven by fear of missing out (FOMO).

The recent increase suggests growing confidence among smaller investors as Bitcoin approaches the $100,000 mark. However, the CEO cautions that these shifts could also attract larger investors seeking liquidity.

Hint of Future Corrections

Despite the bullish momentum, Young Ju warned of potential corrections in the short term. He noted that Bitcoin’s futures perpetual market remains overleveraged, signaling possible volatility ahead. Nevertheless, he emphasized that such corrections would not signify the onset of a bear market. 

According to Young Ju, the current capital inflow suggests Bitcoin’s upper limit could reach $135,000 in this cycle. While long-term bullish sentiment persists, traders are advised to exercise caution when using leverage to avoid overexposure.

Bitcoin as Economic Solution

In related developments, Robert F. Kennedy, a former U.S. presidential candidate, reiterated his support for Bitcoin. In a viral video, Kennedy revealed that a substantial portion of his wealth is now invested in Bitcoin. His pro-Bitcoin stance emerged after attending the 2023 Bitcoin Conference, which influenced his financial decisions. 

Kennedy has consistently promoted Bitcoin to address economic challenges, such as inflation and the weakening U.S. dollar. In a recent tweet, he described Bitcoin as a “currency of freedom” and endorsed it as a hedge against economic instability. He also backed Howard Lutnik for U.S. Treasury Secretary, advocating for Bitcoin’s role in economic policy.

Bitcoin Leads $2.2B Weekly Inflows as Crypto Investments Hit Record $33.5B

Abdulkarim Abdulwahab
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Crypto asset investment products saw robust inflows of $2.2 billion last week, with Bitcoin expectedly leading the way.

This marks a major milestone, pushing year-to-date inflows to a record $33.5 billion. This influx follows an $11.7 billion rally since September, fueled by interest rate cuts and growing optimism surrounding crypto markets. 

However, Bitcoin’s all-time price highs last week triggered mixed reactions, shaping market flows across regions and assets.

Bitcoin Leading the Way for Investment Inflows

Specifically, Bitcoin led the pack with inflows of $1.48 billion, benefiting from a price surge that broke previous all-time highs. The excitement drove total assets under management (AuM) to an unprecedented $138 billion earlier in the week. 

However, as prices reached record levels, $866 million in outflows followed in the latter half of the week, reflecting profit-taking by investors. Interestingly, this price activity also spurred $49 million in inflows to short Bitcoin products, signaling hedging strategies among some investors.

Ethereum Inflows Rebound

Meanwhile, Ethereum-based investments rebounded strongly last week, securing $646 million in inflows, which accounted for 5% of their total AuM. This marks a recovery after weeks of muted activity.

Analysts attribute Ethereum’s rebound to renewed enthusiasm surrounding Justin Drake’s Beam Chain network upgrade proposal and the favorable market outlook post-US elections.

Solana, XRP, and Other Assets

Solana investment products continued their upward trend, securing $24 million in inflows, while XRP-based investments added $4.3 million, maintaining steady growth. Additionally, ETPs for Litecoin and Cardano saw modest inflows of $0.7 million and $3.4 million, respectively.

In contrast, Binance Coin (BNB) and multi-asset products experienced negative flows last week, while Tron (TRX) saw no investment change.

Crypto investment products weekly inflows chart CoinShares
Crypto investment products weekly inflows chart CoinShares

Regional Sentiment: Mixed Signals

Regional inflows were mixed last week. The United States dominated with $2.2 billion in inflows, reflecting strong institutional interest. Meanwhile, Hong Kong, Australia, and Canada saw more modest inflows of $27 million, $18 million, and $13 million, respectively.

At the same time, profit-taking dampened activity in Europe, with Sweden and Germany recording outflows of $58 million and $6.8 million, respectively.

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