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‘Whales’ are buying the dip while everyone else runs for the exits

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Bitcoin accumulation trend (Glassnode)

Very large investors, or whales, holding 10,000 bitcoin or more are currently the only ones that are buying the largest cryptocurrency as prices plummet.

All other holder groups are hitting the sell button, according to onchain data.

This divergence is highlighted by Glassnode’s Accumulation Trend Score by wallet cohort, which measures the relative behavior of different entity sizes based on both balance and the amount of bitcoin acquired over the past 15 days. Scores closer to 1 indicate buying, while values near 0 signal selling.

Bitcoin accumulation trend (Glassnode)

Bitcoin accumulation trend (Glassnode)
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According to Glassnode data, the largest whales are in a “light accumulation” phase and have maintained a neutral-to-slightly-positive balance trend since bitcoin fell to $80,000 in late November. During this period, price has largely consolidated, trading within a $80,000 to $97,000 range through the end of January.

Bitcoin is now trading near $78,000, according to CoinDesk data.

In contrast, all smaller cohorts are net sellers, particularly retail holders with less than 10 BTC. This group has been in persistent selling for over a month, reflecting continued downside and risk aversion among smaller participants.

At the same time, the number of unique entities holding at least 1,000 BTC has increased from 1,207 in October to 1,303.

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Number of Entities with balance 1k BTC (Glassnode)

Number of Entities with balance 1k BTC (Glassnode)

Since bitcoin’s October all-time high, growth in this cohort suggests that larger holders have been buying into the correction. Whales holding at least 1,000 BTC are now back at December 2024 highs, reinforcing the view that large players are absorbing supply while smaller holders continue to exit.

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Coinbase Fully Launches Stock Trading for All U.S. Users With 8,000+ Stocks and ETFs Available

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Nexo Partners with Bakkt for US Crypto Exchange and Yield Programs

TLDR:

    • Coinbase has fully launched stock trading for all U.S. users, following a limited rollout in December 2025.
    • Over 8,000 stocks and ETFs are now available with 24/5 commission-free trading in USD or USDC stablecoins.
    • Fractional share trading is supported, allowing U.S. investors to start buying stocks with as little as $1.
    • Coinbase partnered with Yahoo Finance, adding trade buttons to asset pages for 150 million monthly visitors.

Coinbase has fully rolled out stock trading to all U.S. users, following a limited launch in December 2025. The crypto exchange now offers access to over 8,000 stocks and ETFs through its platform.

Trading runs commission-free, 24 hours a day, five days a week. Users can conduct transactions in either USD or the USDC stablecoin. Fractional share trading is also supported, allowing investors to start with as little as $1.

Coinbase Brings Full Stock Trading Access to U.S. Users

Coinbase first introduced stock trading during its “System Update” product showcase in December 2025. At that time, only hundreds of stocks were available to a limited group of users.

With the full release, thousands of assets are now accessible to all eligible U.S. customers. The expansion marks a major step in the platform’s push beyond cryptocurrency trading.

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The 24/5 commission-free trading model gives users consistent access throughout the trading week. Supporting both USD and USDC as funding options adds flexibility for crypto-native users.

Fractional shares make the platform more accessible to newer or smaller investors. Together, these features position Coinbase as a direct competitor to fintech platforms like Robinhood.

Users can fund their trades using the USDC stablecoin, which is a feature unique to Coinbase’s offering. This bridges the gap between traditional equities and digital asset investing.

It also reflects Coinbase’s broader strategy of integrating crypto and traditional finance in one place. The platform describes its long-term vision as becoming an “everything exchange.”

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Looking further ahead, Coinbase plans to offer tokenized stocks, with details expected in the coming months. The company also intends to expand its stock perpetual products this spring through Coinbase Bermuda Ltd.

That move would give international traders 24/7 exposure to U.S. equities, subject to regulatory approval. Those products will not be available to U.S. persons.

Yahoo Finance Partnership Supports Broader Market Reach

Alongside the full rollout, Coinbase announced a partnership with Yahoo Finance to expand its audience. Yahoo Finance will add a “Trade [asset] on Coinbase” button to stock and crypto asset pages.

The site draws more than 150 million global monthly visitors each month. This gives Coinbase a direct channel to a large base of retail investors.

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Yahoo Finance users will receive a one-month free trial of a Coinbase One Basic membership. The membership covers zero trading fees and USDC rewards for new users.

George Leimer, general manager at Yahoo Finance, noted the partnership targets everyday investors. He pointed to a growing trend of investors exploring digital assets alongside traditional securities.

The Yahoo Finance integration is currently focused on the U.S. market at launch. Coinbase has said it plans to expand its equities trading products internationally in the coming months.

A dedicated crypto hub through Yahoo Finance is also in development. That hub will feature news, data, and analysis from more than a dozen publishers.

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Separately, Coinbase has partnered with Apex Fintech Solutions to handle clearing, custody, and execution services for its equities offering.

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Canton’s Industry Working Group Advances Cross-Border Collateral Mobility With Tokenised Gilts

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Nexo Partners with Bakkt for US Crypto Exchange and Yield Programs

TLDR:

  • Canton’s working group completed its fourth transaction round, introducing tokenised Gilts as repo collateral for the first time.
  • The round featured the first cross-currency intraday repo using tokenised Gilts against non-GBP tokenised deposits on Canton.
  • Archax joined as a new participant, using its tokenisation engine to create regulated digital representations of traditional Gilts.
  • The working group plans to expand cross-border collateral mobility across European and global markets throughout all of 2026.

Canton’s industry working group has taken another step forward in advancing cross-border collateral mobility on Canton.

Digital Asset, alongside a consortium of leading financial institutions, completed a fourth set of transactions on the Canton Network on February 24, 2026.

The latest round builds on prior milestones by introducing tokenised Gilts and cross-currency repo activity. Together, these achievements move the industry closer to a scalable, always-on capital markets infrastructure that operates across borders and asset classes.

Working Group Builds on Previous Transaction Rounds

The industry working group has steadily expanded its scope across each successive round of transactions. Following the third set completed in December 2025, which covered multiple asset classes and currencies using tokenised deposits, this fourth round introduced new instruments and cross-currency structures. Each iteration has added complexity while maintaining institutional-grade standards across the board.

This latest round featured the first cross-border intraday repo transaction conducted using tokenised Gilts. It also marked the first cross-currency intraday repo using tokenised Gilts against non-GBP tokenised deposits.

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These additions reflect the group’s commitment to broadening the range of assets that can move seamlessly across borders within the Canton ecosystem.

@digitalasset, in collaboration with @CantonNetwork participants, announced the completion of a fourth set of transactions showcasing continued momentum in cross-border intraday repurchase activity.

The group’s approach is methodical, advancing one transaction type at a time while ensuring each new layer meets real market requirements. This measured progression is what gives the working group its credibility across participating institutions.

Expanded Membership Strengthens the Consortium’s Reach

A key feature of this transaction round was the growth in active participation across the working group. Archax, a regulated digital asset exchange, broker, and custodian, joined as a new participant.

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Existing members including LSEG, Euroclear, Citadel Securities, TreasurySpring, and IntellectEU also deepened their roles in this round.

Archax supported the transaction by leveraging its broker and custody permissions to hold traditional Gilts on behalf of clients.

It then used its tokenisation engine to create regulated digital representations of those assets. Graham Rodford, CEO and co-founder of Archax, described this function as central to the firm’s broader vision and participation strategy.

The growing membership across custodians, trading venues, clearinghouses, and technology providers adds structural depth to the working group. Participants now span the full transaction lifecycle, from execution to settlement and custody.

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This breadth makes the group well-positioned to address production-scale challenges as the initiative moves beyond the pilot stage.

Cross-Border Collateral Mobility Takes Shape Across Currencies

The working group’s focus on cross-border collateral mobility is becoming more concrete with each round. TreasurySpring validated cross-currency intraday repo and reverse repo against UK Gilts, with haircuts and repo interest embedded directly into smart contracts.

Co-Founder Matthew Longhurst stated these transactions reflect real economic and risk terms across an institutional governance framework.

Euroclear UK & International played a central role as the UK’s central securities depository in tokenising Gilts for the transaction.

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CEO Chris Elms noted that enabling real-time, cross-border collateral mobility helps unlock new liquidity sources for clients. EUI’s involvement brings regulated post-trade infrastructure directly into the Canton framework.

LSEG’s DiSH network served as the cash leg for the transactions, enabling instantaneous beneficial ownership transfer of commercial bank money across multiple currencies and jurisdictions.

Bud Novin, Head of Payment Systems at LSEG, confirmed that DiSH Cash supported the first tokenised intraday Gilt repo on Canton Network.

He added that LSEG DiSH is positioned as a trusted third-party solution for mobilising networks in tokenised markets.

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Industry Players Align Around Scalable On-Chain Market Infrastructure

Beyond the transactions themselves, participants are increasingly focused on what comes next for the working group.

IntellectEU’s Anastasiia Vitmer pointed to how quickly the scope is expanding across assets, infrastructure, and active participants.

Her firm’s Catalyst Suite is being built to support any institutional use case on Canton Network as on-chain markets continue to mature.

DTCC’s Brian Steele reinforced that collaboration across the industry is essential to setting standards and accelerating digital asset adoption.

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He added that this cross-border intraday repo use case confirms growing demand for seamless, scalable financial infrastructure. DTCC’s role reflects how traditional market infrastructure providers are engaging directly with on-chain models.

Digital Asset’s Kelly Mathieson stated that greater asset diversity and broader participation are paving the way for more efficient and liquid capital markets.

The working group plans to continue groundbreaking on-chain financing initiatives throughout 2026, with European markets and other key regions in focus.

Cumberland DRW’s Chris Zuehlke added that Canton continues to show how tokenisation can unlock real efficiency gains across an increasingly diverse set of assets and currencies.

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Traders on Polymarket Favor Meteora While ZachXBT Prepares Investigation Drop

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Nexo Partners with Bakkt for US Crypto Exchange and Yield Programs

TLDR

  • Polymarket users increased bets on Meteora as the leading candidate in ZachXBT’s upcoming investigation.
  • The contract for Meteora reached a 29 percent probability based on active trading behavior.
  • ZachXBT stated that the investigation will expose employees who allegedly used internal data for insider trading.
  • Traders wagered more than seven million dollars on which platform would be identified on Thursday.
  • The investigation did not clarify whether the alleged insider trading involved stocks or digital assets.

Traders on the prediction platform Polymarket increased wagers on which exchange crypto sleuth ZachXBT will target next, and they pushed one project ahead quickly. The market showed heavy activity as users responded to new hints shared on X. The event drew fresh attention after he teased a “major investigation” linked to insider trading claims.

Polymarket Bets Shift Toward Meteora

As trading continued on Tuesday, users raised the probability that Meteora would be named in the probe. The contract reached 29% and moved past other listed platforms.

Users tracked each update closely, and they adjusted positions after his Monday post. However, the contracts still reflected crowd sentiment rather than privileged information.

He said the investigation would show that several employees at an unnamed exchange misused internal data. He added that they engaged in insider trading “over a prolonged period of time.”

Market participants responded fast, and they assessed which platform fit the description. The contract pool included MEXC, Axiom, and Wintermute.

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By Tuesday, users had wagered more than $7 million across the choices. The total rose as traders sought clarity from his updates.

The market did not show whether the alleged insider trading involved stock or digital assets. Traders waited for his Thursday disclosure to confirm the scope.

His comments prompted rapid shifts in odds across the platform. Yet trading patterns continued to follow user guesswork rather than confirmed data.

Analysts tracking the contracts noted that trading volume increased during active discussion periods. Activity often rose within minutes of new social media posts.

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The market structure allowed users to adjust quickly to every clue. However, the contract rules limited outcome definitions to his final announcement.

State Pushback and CFTC Position on Prediction Markets

Regulatory pressure increased as state officials clashed with federal regulators over these platforms. The dispute widened after the chair of the Commodity Futures Trading Commission restated federal oversight powers.

He argued that the agency had “exclusive jurisdiction” over prediction markets. He also compared them to derivatives markets.

He warned that any challenge from state authorities would be met in court. He confirmed that the agency had already filed amicus briefs in related disputes.

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The platform also contested actions brought by the Massachusetts regulator. It argued that only the federal agency held authority over such markets.

Regulatory actions continued as several states pursued separate cases. These cases centered on claims that the platforms offered unlicensed gambling.

The ongoing jurisdiction conflict added pressure to both regulators and platforms. Yet trading on the platform remained active throughout the debate.

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U.S. senator launches inquiry into Binance’s alleged sanctions violations

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U.S. senator launches inquiry into Binance’s alleged sanctions violations

U.S. Senator Richard Blumenthal announced a formal Senate inquiry into Binance after recent news reports revealed that the world’s largest cryptocurrency exchange allegedly facilitated nearly $1.7 billion in transactions tied to sanctioned Iranian entities and Russia’s so-called “shadow fleet” of oil tankers.

Summary

  • Richard Blumenthal has opened a Senate inquiry into Binance following reports that the exchange processed roughly $1.7 billion in transactions linked to Iranian proxies and Russia’s shadow fleet.
  • The investigation seeks documents related to Binance’s compliance practices and the alleged dismissal or sidelining of internal investigators who flagged suspicious accounts.
  • Binance has denied wrongdoing and says it has significantly reduced sanctions exposure while strengthening its anti-money-laundering controls.

Blumenthal demands answers from Binance

The inquiry centers on questions about the company’s compliance practices and its response to internal warnings from compliance staff.

In a letter to Binance CEO Richard Teng, Blumenthal, ranking member of the Senate Permanent Subcommittee on Investigations, demanded documents and records detailing the circumstances surrounding the illicit transfers and why compliance personnel who uncovered the activity were reportedly suspended or dismissed.

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Interestingly, the investigation comes as Binance recently said it has sharply reduced its exposure to sanctioned entities, reporting a roughly 96% drop in related activity between early 2024 and mid-2025. The exchange has argued that sanctions-linked transactions now account for a tiny fraction of total trading volume.

According to reporting in the New York Times and Wall Street Journal, Binance internal investigators found over 1,500 accounts accessed from Iran and traced funds sent through intermediaries, including Hexa Whale and Blessed Trust, to entities linked to Iran’s Islamic Revolutionary Guard Corps and payments to personnel on Russian ships evading sanctions.

“Binance is a repeat offender: it has long been aware that the Iranian regime and its terrorist proxies use its cryptocurrency platform as a convenient and reliable means to bypass international sanctions, anti-money laundering controls, and other banking restrictions,” the senator wrote in the letter.

Blumenthal’s letter also accused Binance of ignoring clear warning signs, allowing potentially illicit accounts to operate, and even reportedly providing support to money-laundering entities, despite a 2023 settlement with U.S. authorities that required enhanced anti-money-laundering controls.

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The senator’s inquiry also references concerns about the reported firing of internal investigators who flagged the activity, raising questions about corporate compliance culture.

Binance has publicly denied that it knowingly facilitated sanctions evasion or that its compliance staff were punished for raising concerns, saying flagged accounts were offboarded and that it cooperates with regulators.

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7M Users & $9BIT Token Surge

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7M Users & $9BIT Token Surge

The Web3 gaming platform the9bit, has surpassed 7 million users while expanding the utility and reach of its native ecosystem token, $9BIT.

$9BIT’s value has skyrocketed sevenfold, driven by the9bit platform surpassing 7 million users and intensified efforts in its AI Game Economy. This period of notable expansion includes major ecosystem enhancements, such as a key alliance with AAA publisher Capcom and a full commitment to accelerating AI Game Development (AIGD). Additionally, the9bit is focused on offering significantly reduced game prices by cutting traditional markups and implementing integrated localized fiat gateways and crypto payment solutions.

Since its launch, $9BIT has experienced significant market growth, reflecting accelerating adoption across the the9bit ecosystem. The token is currently listed on major global exchanges, including KuCoin, MEXC, and BingX, with additional listings under consideration as the ecosystem expands.

But beyond market performance, the real story lies in ecosystem scale.

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Bridging Web3 Integration with AAA Partnerships

Launched in August 2025, the9bit is pioneering the convergence of traditional AAA gameplay and Web3 incentives, establishing an interactive digital economy where gaming is rewarded.

As of 24 Feb 2026:

  • Over 7 million registered users
  • More than 38,000 active gamers and space owners 
  • Over 32.8 million $9BIT tokens distributed to ecosystem participants

$9BIT is the essential utility asset, empowering the ecosystem by facilitating governance, reward distribution, creator incentives, and access to premium in-platform services. This model shifts the user experience from passive consumption to active engagement, allowing users to:

  • Earn rewards through direct gameplay and engagement.
  • Participate in community governance via voting mechanisms.
  • Redeem tokens for premium content and ecosystem utilities.

In a major leap for blockchain-integrated gaming, the9bit has secured its position as a main partner with Capcom. This collaboration will align closely with the highly anticipated global release of Resident Evil 9 on February 27, 2026, with more Capcom future works anticipated in the future, demonstrating the9bit’s capacity to bridge traditional gaming giants with Web3 infrastructure.

By partnering with major global releases, the9bit is elevating its platform beyond casual games, offering its community unique tokenized engagement opportunities and unprecedented access to major franchises.

Introducing AIGD: AI-Powered Game Creation

The next big leap forward for the9bit is AIGD (AI Game Development). This new, AI-assisted creation layer will dramatically lower the barrier for anyone to publish a game. Allowing users to turn a great idea into a fully playable game. This capability unlocks a vibrant, self-sustaining loop between creators and players. Builders use powerful AI tools to bring their games to life, players jump in and generate exciting ecosystem activity, and everyone is rewarded with $9BIT.

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This whole system creates a fantastic new reward cycle:

1. Creators build games using AI tools, quickly develop and launch their games.

2. Players engage and generate activity which the community jumps in.

3. Engagement translates into rewards distributed across the ecosystem.

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4. Creative and great creators directly benefit from the traction.

By aligning incentives between creators and players, the9bit is building a genuinely scalable, self-sustaining gamer-driven economy, a powerful model that puts the value right back into the hands of the people who make the ecosystem thrive.

Backed by Public-Market Infrastructure

According to its whitepaper, the9bit ecosystem allocates 1.9 billion $9BIT tokens to The9 Limited in recognition of its strategic and operational contributions. As of February 24, 2026, 950 million tokens have been delivered, with the remaining allocation expected in the coming months.

The9 Limited, listed on Nasdaq since 2004, brings public-market governance standards and infrastructure experience to the Web3 gaming space, bridging traditional Internet operations with blockchain-enabled economies.

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What’s Next

As 2026 unfolds, the9bit plans to:

  • Expand AIGD toolkits and AI-assisted publishing capabilities
  • Deepen token utility across gameplay layers
  • Expand AAA integrations through our main partnership with Capcom
  • Accelerate user acquisition across MENA and Southeast Asia
  • Strengthen community-driven governance initiatives
  • Explore further exchange listings

With user growth accelerating and AI-powered creation lowering barriers for developers worldwide, the9bit is positioning itself at the intersection of gaming, AI, and Web3 infrastructure.

Play Together. Earn Together. Own Together.

About the9bit

the9bit is a Web3-enabled gaming platform that integrates traditional gameplay with tokenized rewards. The platform offers game purchases, mobile top-ups, casual gaming, and community features — while empowering creators through AI-driven development tools.

For more information, visit: the9bit.com

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About The9 Limited

The9 Limited (Nasdaq: NCTY) is an Internet company listed on Nasdaq since 2004. The company operates in online gaming, Bitcoin mining, and AI-driven technology investments, with a growing focus on Web3 infrastructure.

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Bitcoin Adoption Hit Record Highs in 2025, Says River

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Bitcoin Adoption Hit Record Highs in 2025, Says River

Bitcoin’s adoption by institutions, banks, merchants, public companies, and nation-states has boomed in 2025, despite the recent price drawdown, says the financial services company River.

“There is no bear market in Bitcoin adoption,” River said in a report published on Tuesday, which noted that while Bitcoin (BTC) is down 50% from its all-time high, “adoption is compounding in ways that aren’t affecting the price, yet.”

“Trust in Bitcoin has grown faster than that of any asset in history,” it said. “What began as an experiment is now a globally recognized store-of-value, with adoption patterns that rival the internet.”

Bitcoin is now mainstream on Wall Street. Source: River

Institutional, banking and public company adoption

River reported that institutions accumulated 829,000 BTC in 2025, including purchases by businesses, governments, funds, and exchange-traded funds.

Registered investment advisors have been net buying BTC for eight quarters in a row and have invested roughly $1.5 billion in Bitcoin ETFs per quarter over the past two years, River said. 

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It noted that these institutions represent “millions of underlying individuals” gaining exposure to Bitcoin for the first time through brokerage accounts, retirement plans, sovereign funds and corporate balance sheets.

Related: Public companies increase Bitcoin holdings despite range-bound prices

Additionally, 60% of the top US banks are building Bitcoin products. “With a favorable regulatory environment in the US, banks can now custody Bitcoin and offer Bitcoin products to their customers,” it stated. 

Businesses were the largest buyers of BTC in 2025, with a majority of purchases driven by crypto treasury companies, whose adoption grew 2.5 times last year.

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Public companies holding Bitcoin. Source: River

Merchant adoption and payments accelerate 

Merchant adoption also surged with the number of businesses in the US accepting Bitcoin for payments tripling, while global usage grew by 74% in 2025, it noted. 

Bitcoin payments on the Lightning Network grew by 300% in 2025 and, according to River’s estimations, the network is now processing over $1.1 billion in monthly transaction volume.

Five nation-states became new owners of Bitcoin in 2025, including purchases from two sovereign wealth funds in Luxembourg and Saudi Arabia, and from one central bank in the Czech Republic. The other two were Brazil and Taiwan. 

River estimates that 23 nation-states hold Bitcoin through state-backed mining, seizures, or central bank exposure. 

Bitcoin volatility is in decline 

River said that Bitcoin volatility is also declining, nearing that of gold and the S&P 500, signaling that it is “increasingly viewed as a mature asset class.”

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“As volatility falls, the hurdle for more risk-averse investors declines,” it said. “Over time, that opens the door to larger pools of capital.”

BTC volatility edges closer to that of stocks and gold. Source: River

River added that Bitcoin is built on trust and claimed it is the world’s “only scarce and incorruptible form of digital money.” 

“We expect that in the coming years, Bitcoin adoption will not only continue its current trend, but meaningfully accelerate.”

Magazine: Bitdeer sells all Bitcoin, Metaplanet rejects misconduct claims: Asia Express