Core Viewpoint - The U.S. risks losing its dominance in digital finance to China due to proposed stablecoin regulations that prohibit interest payments on U.S. dollar-pegged stablecoins, while China is enhancing the appeal of its digital yuan by allowing interest payments starting January 1, 2026 [1][2]. Regulatory Framework - The current legislation, known as the GENIUS Act, restricts U.S. stablecoin issuers from paying interest directly to holders, creating a competitive disadvantage for U.S. stablecoins compared to China's e-CNY [2][3]. Competitive Landscape - China's decision to allow interest on the e-CNY transforms it into a savings asset, increasing its attractiveness for both domestic and international users, which could undermine the position of non-interest-bearing U.S. dollar stablecoins [2][5]. Industry Debate - The ongoing debate features crypto advocates arguing that interest restrictions hinder innovation, while traditional banking institutions, represented by the American Bankers Association, advocate for strict enforcement of the interest ban to protect traditional banking [4]. Global Implications - The conflict over digital currency policies is not just about consumer rewards; it concerns the future of global digital settlement, with interest-bearing currencies like the e-CNY posing a challenge to the utility of U.S. dollar stablecoins as reserve assets [5][6]. Potential Consequences - If U.S. digital dollar policies render it less attractive, there is a risk that capital and innovation will shift towards platforms offering yield, potentially diminishing the dominance of USD-backed stablecoins in on-chain value transfer and impacting liquidity and trading volumes [6].

Cryptocurrency Market Overview - Leading cryptocurrencies experienced gains on Tuesday, with Bitcoin rising by 1.78% to $88,600.81 and Ethereum increasing by 1.88% to $2,978.98 [1][2] - Despite the recent gains, Bitcoin and Ethereum are on track for their worst fourth quarter performances since 2018, with Bitcoin down 22.37% and Ethereum down 28% [3] - The global cryptocurrency market capitalization increased by 1.26% to $2.99 trillion [7] Trading Activity - Bitcoin's trading volume decreased by 24% in the last 24 hours, while Ethereum's trading volume fell by 27% [3] - Nearly $180 million was liquidated from the cryptocurrency market in the last 24 hours, with both long and short positions being affected [5] - Bitcoin's open interest dropped by 2.28% in the last 24 hours, indicating potential short covering by bearish traders [6] Stock Market Performance - Cryptocurrency-linked stocks Bitmine Immersion Technologies Inc. and Coinbase Global Inc. saw declines of 2.87% and 0.93%, respectively [4] - The stock market overall experienced losses, with the Dow Jones Industrial Average down 0.20%, the S&P 500 down 1.36%, and the Nasdaq Composite down 0.24% [8] Federal Reserve Insights - The Federal Reserve's December meeting minutes revealed divisions among officials regarding interest rate cuts, with some advocating for a 50 basis point cut, while a 25 basis point reduction was ultimately decided [8][9] - Traders are currently pricing in an 85% chance that the federal funds rate will remain unchanged at the January meeting [9] Market Predictions - Analysts are speculating on Bitcoin's potential breakout above the 21-day simple moving average around $89,000, which has historically been a significant trigger for rallies [10] - Another analyst predicts a possible dip in Bitcoin prices following the Consumer Price Index release on January 13, which could lead to a selloff followed by a bullish rally [11]

Core Insights - Users on the cryptocurrency trading platform Lighter are currently unable to withdraw funds, coinciding with the launch of its native token, LIT [1][6] Group 1: Company Overview - Lighter is a layer-2 decentralized crypto trading platform built on Ethereum, backed by investors such as Coinbase and Robinhood [2] - The platform's decentralized nature allows for trading of crypto assets without centralized control [2] Group 2: Token Launch and Performance - Lighter launched its native token, the Lighter Infrastructure Token (LIT), on December 30, aiming to bridge traditional finance with decentralized finance [4] - The token distribution allocates 50% to the ecosystem, 26% to the team, and 24% to investors [4] - LIT reached a peak price of $4.04 on its debut but is currently trading at $2.77, reflecting a decline of over 30% from its highest value [5] Group 3: Withdrawal Issues - Users reported being unable to withdraw funds due to an error message indicating "Too many L2 Withdrawals" [6] - Complaints regarding withdrawal issues have been noted in Lighter's Telegram support group [6] - The withdrawal issue appears to be linked to a slowdown in block processing speed [7]

Core Insights - Coinbase Markets announced that Lighter (LIGHTER) will open spot trading once liquidity conditions are met, applicable to regions supporting the LIGHTER-USD trading pair [1] - Lighter is a perpetual contract trading protocol designed to provide scalable, non-custodial, and verifiable order book trading infrastructure within the Ethereum ecosystem [1]

Needham analyst John Todaro lowered the firm’s price target on Coinbase (COIN) to $290 from $400 and keeps a Buy rating on the shares. The firm lowered its estimates and price targets across the cryptoasset sector as it sees continued weakness in crypto volumes for the next couple quarters. Even if crypto prices are near a bottom, retail volumes typically remain muted until momentum returns, the analyst tells investors. Claim 70% Off TipRanks This Holiday Season Published first on TheFly – the ultimate s ...

奔跑财经12月3 ...

Cryptocurrency Market Overview - Cryptocurrencies, including Bitcoin and Ethereum, experienced declines on Monday, with Bitcoin down 1.03% to $87,054.88 and Ethereum down 1.13% to $2,926.76 [2][3] - Bitcoin's trading volume surged by 187% in the last 24 hours, indicating high liquidity and trader interest, despite its price falling back to $86,000 after briefly surpassing $90,000 [3] - The global cryptocurrency market capitalization decreased by 1% to $2.95 trillion [7] Stock Market Performance - Cryptocurrency-linked stocks, such as Strategy Inc. and Coinbase Global Inc., saw declines of 2.15% and 1.32%, respectively [4] - The Dow Jones Industrial Average fell by 249.04 points (0.51%) to 48,461.93, while the S&P 500 and Nasdaq Composite also experienced declines of 0.35% and 0.50% [8] Commodities Market - Silver prices dropped approximately 10% after reaching record highs of over $80 per ounce, while gold pulled back more than 4% from its record high of $4,550 per ounce [9] Market Sentiment and Trends - The Crypto Fear and Greed Index indicates a prevailing "Extreme Fear" sentiment in the market [6] - Analysts noted a bullish divergence between Bitcoin and gold, suggesting that Bitcoin may outperform gold in the near future [11] - Long-term Bitcoin holders have reduced selling, leading to a growth in supply, which historically precedes consolidation phases or bullish recoveries [12]

Analysts at Needham & Company LLC have lowered their price target for Coinbase (Nasdaq: COIN), the largest cryptocurrency trading exchange in the U.S. Founded by Brian Armstrong and Fred Ehrsam in 2012, Coinbase became a public company in 2021. The company, which operates digital asset exchange platforms in more than 100 countries across the world, joined the coveted S&P 500 index in May this year. Related: Coinbase stock surges after new India announcement Coinbase among Wood's favorite stocks Vetera ...

Core Insights - The 2026 Crypto Market Outlook by Coinbase Institutional indicates a significant expansion in crypto derivatives trading in 2025, driven primarily by decentralized platforms [1] - Monthly trading volume of DEX perpetual contracts has exceeded $1.2 trillion, with Hyperliquid maintaining a substantial market share [1] - Amidst a sluggish altcoin spot market, some capital has shifted towards high-leverage perpetual contracts, with speculative exposure nearing 10% mid-year before declining after the October liquidation event [1] - Perpetual contracts are evolving from a singular trading tool to a foundational financial primitive within DeFi, gradually integrating with lending protocols and extending into stock-like perpetual contracts, thus becoming a crucial derivative form connecting crypto markets with traditional assets [1]

Core Insights - The cryptocurrency market is experiencing a significant downturn, leading to reduced retail activity and negative sentiment towards crypto exchanges [1][4] - Despite slashing price targets for major crypto platforms like Coinbase, Robinhood, E Toro, and Gemini, the firm maintains buy ratings on these stocks [1] - The sentiment in the crypto market has reached its lowest level since October 2024, indicating a period of extreme disinterest [2][3] Market Sentiment - Current sentiment is characterized by extreme disinterest, which may indicate a potential bottom for crypto prices [3][4] - The negative sentiment has resulted in decreased retail trading activity, which may take up to two quarters to recover even with rising crypto prices [4][5] Future Catalysts - Potential growth for crypto platforms may come from the tokenization of real-world assets and increased adoption of stablecoins, which do not typically experience price volatility [6] - Diversification away from traditional crypto offerings, such as prediction markets, may also benefit platforms in the future [7] Company Performance - Robinhood has emerged as a leading performer in the market, with a 215% increase year-to-date, attributed to its success as a super app offering a variety of products [8][9] - The company's strategy of not focusing solely on one asset but providing a wide range of services has set a benchmark for other crypto platforms [10] - Robinhood's acquisition of Bitstamp has helped mitigate the impact of declining crypto volumes, as Bitstamp caters more to institutional clients [11]