Arp's Crypto Digest

General Digital Asset Market View:

Over the past week, Bitcoin remained under pressure with price action mostly subdued, trading around the mid-to-high $80,000s as macro uncertainty and market sentiment weighed on demand. U.S. spot Bitcoin ETFs experienced renewed net outflows, including meaningful redemptions on Friday that totaled roughly $158 million, contributing to a bearish tone in flows and signaling that some institutional investors were trimming exposure late in the week. Combined with broader weakness in crypto ETFs (including Ethereum products), total outflows across major funds were pronounced, although there were occasional single-day inflows into specific Bitcoin products earlier in the week. Overall, ETF flows continued to be a headwind for Bitcoin’s price momentum, and capital rotated into other niches like XRP ETFs that kept steady inflows amid the caution.

Macro:

In a holiday-shortened week, key releases will feature delayed US economic data including Q3 GDP as well as several events in Japan including Governor Ueda’s speech.

More Crypto:

By monthly active users, Solana stands as the most used chain among major L1s and L2s.

With roughly 98M MAU, it ranks #1 and has nearly five times the user base of Base.

Tokenized stocks quietly upgrade crypto’s value prop.

Better assets raise product quality, pull more activity onchain, and expose users to what 24/7 global markets actually feel like. No pitch deck needed.

Circle heads into 2026 with mixed signals.

Stablecoin usage keeps accelerating, but rate cuts directly compress their core revenue engine. Still, +66% YoY annualized revenue growth puts them ahead of most fintech peers.

What Happened This Week:

• Japan raised interest rates to 75 bps, the highest level in 30 years

• BitMine buys the dip, adding $140M in ETH to its treasury

• Michael Saylor’s Strategy buys 10,645 more BTC for $980.3M

• Visa launches a stablecoin advisory service for institutions

What to Look Out For:

• JPMorgan ($4T AUM) to launch its first tokenized money market fund on Ethereum

• Visa enables U.S. banks to settle payments in USDC on Solana

• Binance explores reviving Binance.US via potential recapitalization that could dilute CZ’s stake

• Coinbase is introducing prediction markets, offering thousands of Kalshi contracts for trading on its platform

What we enjoyed reading and listening to:

• 2026 Digital Asset Outlook: Dawn of the Institutional Era -Link

• PATI: A New Model for Token Issuance -Link

• Crypto Prices Are Down…Builders Aren’t! -Link

• 10 Crypto Predictions for 2026: $1M BTC, Wall Street Onchain & ETF Takeover -Link

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