Core Insights - xStocks has launched on the TON blockchain, allowing Telegram users outside the US to trade tokenized versions of US stocks and ETFs directly within the app, adding to the competitive landscape of tokenized stocks [1][4] - The trend towards tokenization of real-world assets (RWAs) is expected to grow by 2025, with various financial instruments appearing on blockchains to enhance liquidity [2][8] - Kraken's involvement lends credibility to xStocks, which previously faced competition from smaller, less recognized projects, and follows earlier initiatives in tokenized stocks on Telegram [5] Group 1: xStocks and TON - xStocks provides tokenized equities that mirror real stocks or ETFs, functioning like a "claim ticket" that tracks the price of actual shares [3] - By integrating with TON, xStocks allows users to trade on-chain stocks in a user-friendly chat interface, simplifying the trading process for beginners [4][6] - The platform has already accumulated around $180 million in assets across nearly 50,000 wallets on Solana and Ethereum, indicating significant interest in tokenized stocks [1] Group 2: Market Dynamics and User Access - The launch of xStocks represents a shift in access to US stocks, as users no longer need traditional brokerage accounts, allowing for self-custody of tokens [6] - Tokenized stocks on TON are part of a broader trend of RWA tokenization, which includes initiatives like JPMorgan's tokenized money-market fund, highlighting the intersection of traditional finance and crypto [8] - Users must understand the legal implications of holding xStocks tokens, as they represent creditor rights to collateral held by custodians, emphasizing the importance of the underlying legal framework [7]

Core Thesis - Tom Lee believes that if big technology stocks continue to support risk markets and the Federal Reserve becomes more accommodating, both equities and cryptocurrencies could experience significant growth by 2026 [1]. Digital Assets and Blockchain - Lee views the recent decline in digital assets as a temporary liquidity shock rather than a sign of a broken market, linking his optimism to Wall Street's increasing adoption of blockchain for payments, assets, and settlements, which he believes is particularly favorable for Ethereum [1][2]. - He argues that tokenization and on-chain settlement will give Ethereum a structural role in the future of finance, reinforcing his bullish stance on the cryptocurrency [3]. Investment Recommendations - For 2026, Lee's top stock picks include Nvidia, AMD, Meta, Goldman Sachs, and Arista Networks, while he identifies CrowdStrike, Costco, Palo Alto Networks, Tesla, and Willis Towers Watson as less timely investments, though not outright sells [5]. - He anticipates that a broader mix of sectors, including financials, industrials, energy, and basic materials, could also perform well [6]. Market Dynamics - Lee emphasizes that digital assets should be viewed as part of the same liquidity cycle that influences equities, suggesting a close relationship between the two markets [7].

Core Insights - The crypto market is experiencing a shift towards maturity, with a focus on long-term infrastructure development rather than short-term speculation [1][4] - Regulatory clarity, such as the Genius Act, is expected to unlock further capital and innovation in the crypto space [2][11] - The integration of decentralized finance (DeFi) products and artificial intelligence (AI) is anticipated to enhance user experience and broaden market participation [3][19] Market Trends - The total crypto market capitalization has decreased by approximately 13% year-to-date, yet underlying fundamentals are improving [1] - Venture capital investment in crypto companies has surged to over $25 billion, marking a 73% increase from 2025 [6] - Adoption of stablecoins and tokenized assets is projected to accelerate, supported by U.S. government initiatives [7][20] Institutional Adoption - Traditional financial institutions are increasingly launching blockchain-enabled products, indicating a significant inflection point for institutional adoption in 2026 [8][9] - Major banks and asset managers view blockchain initiatives as growth opportunities, facilitating the transition from legacy systems to modern infrastructure [9] - The signing of the Genius Act has created a more favorable environment for institutional participation in digital asset markets [11][13] Product Development - Perpetual contracts are becoming the most utilized financial products in crypto, with new applications emerging that link to real-world assets [5][21] - The line between traditional finance and DeFi is expected to blur, with familiar financial products moving on-chain [26][27] - Consumer-facing crypto applications are anticipated to become more user-friendly, making blockchain technology less visible to end-users [24][25] Future Outlook - The crypto market is expected to see a rise in niche assets and products that cater to existing risks, enhancing accessibility for everyday users [19] - The role of machines in financial transactions is likely to increase, leading to a more automated and efficient market environment [22] - Emerging markets, particularly in Africa, are showing a growing appetite for blockchain investments, with significant venture capital funding directed towards this sector [15][14]

Core Insights - The CoinShares Altcoins ETF (DIME) offers investors an equally weighted exposure to blockchain networks that are increasingly becoming the infrastructure for traditional finance [1] Group 1 - The ETF is designed to capitalize on the growing integration of blockchain technology within the financial sector [1] - DIME aims to provide a diversified investment option by including various altcoins that support blockchain networks [1] - The product reflects a strategic move by CoinShares to enhance its offerings in the evolving cryptocurrency market [1]

Core Viewpoint - JPMorgan Chase & Co. continues to expand its blockchain initiatives while CEO Jamie Dimon maintains a skeptical view of Bitcoin, emphasizing its lack of intrinsic value and associating it with illicit activities [1][2]. Group 1: Dimon's Stance on Bitcoin - In 2025, Dimon reiterated his skepticism towards Bitcoin, stating it has no intrinsic value and linking it to negative activities such as sex trafficking and money laundering [2]. - Dimon compared Bitcoin ownership to smoking, indicating that while JPMorgan allows clients to buy digital assets, the bank will not provide custody services for them [2][4]. Group 2: JPMorgan's Blockchain Initiatives - JPMorgan executed an aggressive blockchain expansion strategy, launching the My OnChain Net Yield Fund (MONY) with an initial investment of $100 million, marking its first tokenized money-market fund on the Ethereum blockchain [3]. - The bank is considering offering cryptocurrency trading services to institutional clients, including spot and derivatives, a significant shift from previous policies [4]. Group 3: Institutional Buildout and Market Trends - Throughout 2025, JPMorgan accelerated its institutional buildout, announcing plans to allow Bitcoin and Ethereum as collateral for secured loans and launching JPM Coin for instant money transfers on Coinbase's Base blockchain [5]. - The tokenized treasury market reached approximately $7.3 billion in 2025, reflecting a 256% year-over-year increase, with BlackRock's BUIDL fund leading the space with around $1.8 billion in assets [6]. Group 4: Evolving Views on Blockchain - Despite his criticism of Bitcoin, Dimon's perspective on blockchain technology has softened, acknowledging its legitimacy and potential for widespread adoption [7]. - Dimon differentiates between Bitcoin, which he considers speculative, and blockchain infrastructure, which he views as transformative for institutional finance [8].

Core Viewpoint - Ethereum is currently facing resistance at the $3,000 level, and a successful breakout could lead to a rally towards its all-time high of $4,954, with significant whale accumulation indicating strong buying interest [1][5]. Price Movement and Market Dynamics - Ethereum has shown a 1.4% gain on December 26, aiming for a breakout past the $3,000 resistance level [1]. - The price has been consolidating under $3,000 after losing crucial support, with a recent bounce from $2,900 amid the expiration of $3.8 billion in ETH options [2][6]. - Analysts suggest that if Ethereum fails to reclaim the $3,000 zone, it may revisit the $2,800 support level [3]. Whale Accumulation - A significant whale wallet has accumulated approximately $130.7 million in ETH over the past three weeks, indicating sustained large-scale buying interest despite market volatility [4]. - In the past week, whale investors purchased around 220,000 ETH, representing an investment of roughly $660 million [4]. Technical Analysis - Analysts have noted a hidden bullish divergence in Ethereum's price, suggesting a potential strong upside move similar to setups seen in 2023 [5]. - A successful breakout beyond the previous all-time high could pave the way for a rally towards the $8,500 range [5]. Market Events and Future Outlook - The expiration of $3.8 billion in spot Ethereum options has stirred market volatility, with the max pain point currently at $3,000 [6]. - Ethereum is expected to undergo two major network upgrades in 2026, which could be crucial for its price trajectory [6].

pump.fun airdrop, pump token, pump price, pump buyback. Photo by BeInCrypto Canton Network price has surged sharply over recent weeks, capturing market attention with a near 40% weekly gain. The rally accelerated after Canton announced a strategic collaboration with The Depository Trust & Clearing Corporation earlier last week.  This development positioned CC at the center of institutional tokenization discussions, driving renewed investor interest. Canton Network and DTCC Join Hands DTCC and Canton Ne ...

Core Viewpoint - Figure Technology Solutions (FIGR) is positioned favorably in the loan origination market due to its proprietary blockchain technology, which enhances its operational efficiency and effectiveness in originating loans [1] Company Analysis - FIGR has been given a buy rating based on its structurally superior solution for loan origination, which is supported by its proprietary blockchain [1] - The investment thesis emphasizes the potential for long-term growth, focusing on acquiring quality companies at a discount to their intrinsic value [1]

Core Insights - HashKey Capital has successfully closed its fourth fund, HashKey Fintech Multi-Strategy Fund IV, with $250 million in commitments, exceeding initial expectations and attracting a diverse range of global institutional investors [1][2] - The firm aims for a final fund size of $500 million, reflecting strong institutional interest in digital asset exposure despite changing market conditions [1][2] Fund Structure and Strategy - Fund IV will employ a multi-strategy investment approach focusing on digital asset initiatives, particularly in infrastructure, scalability, and mass adoption use cases [3] - The fund will integrate public-market strategies with liquidity-generating crossover opportunities to exploit structural inefficiencies in the digital asset ecosystem [3][4] - Selective private-market allocations will target emerging technologies and platforms to enhance risk-adjusted returns, providing flexibility across market cycles while maintaining exposure to long-term growth in blockchain and fintech [4] Institutional Growth and Market Position - HashKey Capital, founded in 2018, has grown to manage over $1 billion in assets and oversees a portfolio of more than 400 projects globally, establishing itself as a significant player in the blockchain investment landscape [5] - The firm has been an early institutional investor in Ethereum and has offices in Singapore, Hong Kong, and Japan, indicating a strong regional presence [5] Regulatory Contributions and Future Outlook - HashKey Capital has contributed to the development of regulated digital asset products in Hong Kong, including the launch of the first spot Bitcoin and Ether exchange-traded funds on the Hong Kong Stock Exchange [6] - The CEO of HashKey Capital, Deng Chao, noted that the new capital positions the firm to capture growth in emerging markets where blockchain applications are being tested at scale [6] - The founder of HashKey Group, Dr. Xiao Feng, highlighted the convergence of artificial intelligence, blockchain, and institutional finance as a source of new investment opportunities, with Fund IV aimed at supporting technically capable and commercially viable projects [7]

Market Overview - Gold prices have reached a record high, increasing by 70% this year, with 51 record highs noted [1] - Copper prices have also hit a record, rising by 30% this year, driven by demand from AI data centers [1] - The S&P 500 index is at a record high, coinciding with significant gains in traditional defensive areas of the metals market [1] Investment Insights - Sanctuary Wealth's chief investment strategist noted a bullish outlook on gold with a price target of $4,000, highlighting the unexpected breakout of silver to an all-time high and the overall bullish trend in metal stocks [2] - The chief investment officer of Robinhood expressed surprise at the lower-than-expected inflation data, questioning whether inflation concerns were warranted [3] - An analyst from The Benchmark Company anticipated faster development in blockchain and crypto initiatives, emphasizing the importance of upcoming legislative changes in the US Senate that could influence the digital asset market in 2026 [3]