News & Research

The Lido (LDO) community has introduced a Whitehat Safe Harbor Agreement to protect its approximately $26 billion in assets, according to DL News. The agreement permits white-hat hackers to intervene for the purpose of asset recovery in the event of a hack. This new policy provides an institutional safeguard for ethical hackers, who previously faced the risk of legal punishment for such unauthorized interventions.

Selling pressure on XRP remains strong despite the potential approval of a U.S. spot ETF, according to an analysis by CryptoQuant contributor PelinayPA. The contributor noted that most recent XRP inflows to Binance originated from wallets holding between 100,000 and one million XRP, as well as those with over one million XRP, indicating that whales, not retail investors, are depositing funds onto the exchange. Historically, such spikes in exchange inflows have preceded sustained price declines, signaling that supply is overwhelming demand. PelinayPA identified a key support zone between $1.82 and $1.87 but warned that continued large-scale transfers by whales could push the price down to the $1.50-$1.66 range. The analysis also highlighted that the chart currently shows no signs of a bullish trend reversal and that XRP faces repeated selling pressure each time it approaches $1.95. A significant rebound is considered unlikely until these exchange inflows decrease.

The EigenLayer Foundation has introduced a governance proposal to overhaul its EIGEN token incentive system, CoinDesk reported. The proposal's central aim is to restructure incentives based on network activity and fee generation. Under the plan, a new incentives committee would be formed to adjust token issuance. The system is designed to reward users who contribute to securing Actively Validated Services (AVS) and expanding the EigenCloud ecosystem.

Bitcoin's weekly Relative Strength Index (RSI) has fallen to its lowest level since January 2023, according to a Cointelegraph analysis of the Bitstamp BTC/USD chart. The indicator has dropped to 35, a level last seen when Bitcoin was trading between $15,500 and $17,000. Cointelegraph suggests this decline indicates an extremely oversold condition, which has historically preceded price rallies and may signal a short-term reversal. The analysis also noted that Bitcoin's Network Value to Transactions (NVT) ratio suggests the asset is currently undervalued. Meanwhile, crypto analyst Jelle stated that this RSI level is significant, indicating that the market could either be approaching a bottom or be on the verge of a larger decline, describing it as a pivotal moment for traders.

Solana-based decentralized exchange (DEX) Lifinity is shutting down, SolanaFloor reported. The move follows a proposal to cease operations that was submitted to the project's community on Dec. 10 and subsequently passed unanimously. In line with the proposal, the Lifinity DAO will distribute its $42 million in assets to LFNTY token holders. Holders are estimated to receive between $0.90 and $1.10 per token.

CoinMarketCap's Altcoin Season Index has fallen one point from the previous day to 17. The index measures whether altcoins are outperforming Bitcoin. It is considered an "altcoin season" if 75% of the top 100 cryptocurrencies, excluding stablecoins and wrapped tokens, have performed better than Bitcoin over the last 90 days. A score closer to 100 indicates a stronger altcoin season.

The decentralized synthetic asset protocol Synthetix (SNX) is returning to the Ethereum mainnet, Cointelegraph reported. The founder of Synthetix explained that while derivatives trading had migrated across various networks over the past few years, Ethereum now has sufficient capacity to support high-performance financial applications. The founder added that the extreme network congestion that previously affected Ethereum has now been significantly resolved.

JPMorgan has described predictions that the stablecoin market will grow to $1 trillion in the coming years as overly optimistic, The Block reported, citing a new report from the bank. The financial giant argued that stablecoin growth is not independent and will likely follow the broader cryptocurrency market's trend rather than significantly outpace it. According to the report, a key issue is that the growth drivers for stablecoins are confined to activities within the crypto ecosystem, with most demand stemming from DeFi lending and derivatives trading. Taking these factors into account, JPMorgan projects the stablecoin market will reach a maximum size of $600 billion by 2028.

Wall Street firms Benchmark and JPMorgan have raised their outlook on Coinbase, arguing that the market has not yet fully priced in the company's recent major updates, such as the introduction of stock trading support. According to The Block, Benchmark maintained its Buy rating for Coinbase and raised its price target to $421. The firm stated that Coinbase's product demonstration indicates a shift from simple marketing to a clear execution roadmap, showcasing its potential to diversify revenue beyond crypto spot trading. JPMorgan assigned an Overweight rating to the company, assessing that the latest updates significantly expand the user experience. The bank emphasized that the announcement was notably aimed at customers rather than investors, predicting that higher user engagement will create more significant revenue opportunities in the future.

An anonymous address that purchased 103 trillion SHIB, or 17.4% of the total supply, in 2020 has deposited 464.3 billion SHIB ($3.48 million) to OKX in the last hour, according to EmberCN. The address, which begins with fd6fa872, originally paid 37.8 ETH ($137,000) for its holdings. It now holds 96.22 trillion SHIB, valued at $718 million, which accounts for 16.3% of the supply.