Bitfinex has rolled out Version 1.124, featuring significant updates to enhance user experience, including hotkeys support, UI improvements, and numerous bug fixes, according to Bitfinex.
Bitfinex, a prominent cryptocurrency exchange, has announced the release of Version 1.124 of its trading platform, bringing several significant improvements and bug fixes to enhance the overall user experience. This update is part of Bitfinex’s ongoing efforts to refine its platform and provide a seamless trading experience for its users, according to Bitfinex.
New Features and Improvements
The latest version introduces hotkeys support, a long-requested feature by traders aiming for faster navigation and execution of trades. Additionally, Bitfinex has worked on various enhancements to the platform’s user interface. These include updates to the button hover state, color slider cursor, and the new deposit and withdrawal flow for USDT0. The Travel Rule modal has also seen improvements, with adjustments to the ‘Proceed’ button UI, a functional ‘X’ close button, and the addition of a ‘Back’ button.
Other notable updates include fixing the deposit modal width issue when scrollbars appear and adding missing Simplified Chinese translations for sub-accounts and wallets. Bitfinex has also allowed dynamic help URLs in USDT0 wizard modals, providing users with more accessible support options.
Bug Fixes
Version 1.124 addresses numerous bugs to improve platform stability and functionality. Key fixes include resolving inconsistencies with the ‘Select all’ checkbox, correcting the OTC slider handle’s appearance over dropdown menus, and ensuring ledger entries CSV export authentication tokens function correctly. Additionally, the update fixes issues with the Depth Chart, such as price layout button malfunctions on small screens and zoom-out problems.
Further bug fixes include correcting the order history table sorting by price field, addressing missing balances in Russian translations, and resolving the delisted notice issue. The update also fixes the SWAPX address generation for USDT0 and ensures the export button is inactive when no items are present.
Bitfinex remains committed to providing a robust trading platform, continuously implementing updates to enhance user experience. With Version 1.124, users can expect a more streamlined and efficient trading environment.
AAVE price prediction shows potential 27-33% upside to $210-220 range by year-end, supported by bullish MACD histogram and oversold RSI conditions at $165 support level.
AAVE Price Prediction: Recovery Rally Expected After Sharp Decline
Aave (AAVE) has experienced a significant 11% decline in the past 24 hours, dropping from $186 to current levels around $165. However, this AAVE price prediction analysis reveals compelling technical signals suggesting a potential recovery rally is imminent, with multiple analysts converging on similar upside targets.
AAVE Price Prediction Summary
• AAVE short-term target (1 week): $190-$200 (+15-21%)
• Aave medium-term forecast (1 month): $210-$220 range (+27-33%)
• Key level to break for bullish continuation: $180.47 (pivot point)
• Critical support if bearish: $147.13 (strong support level)
Recent Aave Price Predictions from Analysts
The consensus among recent Aave forecast reports shows remarkable alignment, with multiple sources targeting the $215-$217 range. CoinCodex and Blockchain.News both issued AAVE price prediction targets of $216.75, representing a 16% gain from current levels. Their analysis points to oversold conditions and bullish MACD momentum as primary catalysts.
However, a contrarian view from CoinLore suggests caution with a bearish AAVE price prediction of $167.84, indicating potential further downside. This divergence creates an interesting risk-reward scenario where the majority bullish outlook faces a notable dissenting opinion.
The market consensus leans optimistic, with three of four recent predictions calling for upside in the coming weeks, supporting our constructive Aave forecast.
AAVE Technical Analysis: Setting Up for Bounce
The current technical picture for AAVE presents a compelling case for a reversal. With the RSI at 38.14, Aave is approaching oversold territory without being extremely stretched, leaving room for further decline but also positioning for a potential bounce.
The MACD histogram reading of 1.9987 provides the most encouraging signal in this AAVE price prediction analysis. This positive reading suggests bullish momentum is building despite the recent price decline, often serving as an early indicator of trend reversal.
Volume analysis shows elevated activity at $27.3 million on Binance, indicating institutional interest during this decline. This volume profile supports the thesis that current levels may represent a consolidation phase rather than the start of a deeper correction.
The Bollinger Bands position at 0.24 places AAVE in the lower portion of its recent trading range, historically a area where bounces occur. The lower band at $154.17 provides nearby technical support.
Aave Price Targets: Bull and Bear Scenarios
Bullish Case for AAVE
Our primary AAVE price prediction scenario targets the $210-$220 range within 30 days. This forecast aligns with the analyst consensus and represents a logical retest of the immediate resistance zone at $219.57.
For this bullish Aave forecast to materialize, AAVE needs to reclaim the $180.47 pivot point and hold above the 20-day SMA at $177.08. A break above $190 would trigger momentum buying and likely propel prices toward our target zone.
The path higher involves clearing the 7-day SMA at $180.11, followed by a test of the upper Bollinger Band at $199.99. Success at these levels opens the door to the $216-$220 resistance cluster identified in recent analyst reports.
Bearish Risk for Aave
The bear case for this AAVE price prediction centers on a breakdown below the critical $147.13 support level. Such a move would invalidate the bullish thesis and potentially target the 52-week low region around $125.30.
Risk factors include broader crypto market weakness, DeFi sector rotation, or failure to hold current support levels. The distance from the 52-week high of 53.84% shows AAVE remains in a significant correction phase, making it vulnerable to further selling pressure.
A break below $160 would likely accelerate selling and bring the $147 support into immediate focus.
Should You Buy AAVE Now? Entry Strategy
Based on this Aave technical analysis, the current level around $165 presents an attractive entry point for those bullish on the AAVE price prediction outlook. However, a staged approach makes more sense given the recent volatility.
Entry Strategy:
– Initial position: 30% allocation at $165-$167
– Additional buy: 40% if AAVE retests $155-$160 support
– Final tranche: 30% on break above $180 confirmation
Risk Management:
– Stop-loss: $145 (below strong support)
– Take profit targets: $200 (partial), $215 (main target)
– Position size: Maximum 2-3% of portfolio given volatility
The key question of whether to buy or sell AAVE depends on risk tolerance and investment timeline. Short-term traders should wait for confirmation above $180, while longer-term investors may consider current levels attractive for accumulation.
AAVE Price Prediction Conclusion
Our AAVE price prediction maintains a bullish outlook with medium confidence, targeting $210-$220 within 30 days despite recent weakness. The combination of oversold conditions, bullish MACD momentum, and analyst consensus supports this Aave forecast.
Key indicators to monitor include the MACD histogram maintaining positive readings, RSI holding above 35, and price action around the $180.47 pivot level. A break below $160 would force a reassessment of this bullish prediction.
The timeline for this AAVE price prediction to unfold spans the next 2-4 weeks, with initial confirmation expected if AAVE can reclaim $180 in the coming days. Given the 53% correction from highs, current levels offer an asymmetric risk-reward profile favoring the upside for patient investors.
Confidence Level: MEDIUM – Technical signals support upside, but recent volatility and mixed market conditions warrant measured optimism rather than high conviction.
Bitcoin (BTC) experienced a sharp pullback in early Asian trading on Monday, dropping to $85,500 amid increasing expectations of a December rate hike by the Bank of Japan (BOJ).
Key takeaways:
Bitcoin dropped 5% to almost $85,000 in a marketwide correction, liquidating $656 million in longs.
Mounting expectations for a BOJ rate hike at its Dec. 18-19 meeting weighed on the BTC price.
Bitcoin’s bear flag projects a potential drop to $67,700.
More than $564.3 million in long positions was liquidated, with Bitcoin accounting for $188.5 million of that. Ether (ETH) followed with $139.6 million in long liquidations.
Across the board, a total of $641 million was wiped out of the market in short and long positions, as shown in the figure below.
Several analysts attribute the downside to surging expectations for a BOJ rate hike at its Dec. 18-19 meeting. This potential tightening — Japan’s first since January — has amplified concerns about unwinding the massive yen carry trade, pressuring risk assets such as cryptocurrencies.
“$BTC dumped cause BOJ put Dec rate hike in play,” said BitMEX co-founder Arthur Hayes in an X post on Monday, adding that a USD/JPY rate of between 155 and 160 “makes BOJ hawkish.”
BTC/JPY chart. Source: Arthur Hayes
Japanese yields are spiking with the two-year at its highest level since 2008. The yen is also surging, said co-founder and CEO of Coinbureau Nic in his latest post on X.
As a result, “bond investors place a 76% chance of a BoJ rate hike on Dec. 19,” Nic wrote, adding:
“An increase in Japanese base rates and strengthening of Yen leads to an unwind of the carry trade (borrowing in Yen, buying risk assets). ”
A stronger yen from higher rates makes carry trades costlier, prompting investors to unwind positions en masse. This forces the sale of risk assets, as seen in August 2024, when a surprise BOJ hike triggered a 20% BTC price crash to $49,000 and $1.7 billion in liquidations.
How low can Bitcoin price go?
The Bitcoin liquidation heatmap showed the price eating away liquidity around $86,000, with millions in bid orders still sitting between the spot price and $79,600
BTC/USDT liquidation heatmap. Source: CoinGlass
This suggests that Bitcoin’s price might drop further to sweep this liquidity before staging any recovery.
From a technical perspective, the price has validated a bear flag on the daily chart after dropping below the lower boundary of the flag at $90,300 on Monday.
A daily candlestick close below this level would confirm the continuation of the downtrend toward the measured target of the flag at $67,700 (near 2021 all-time highs). Such a move would bring the total losses to $21%.
Veteran trader Peter Brandit shared a chart showing that Bitcoin’s macro downtrend could find support within the lower green zone, which lies between $45,000 and $70,000.
Not to bust anyone’s banana, but the upper boundary of the lower green zone starts at sub $70s with lower boundary support in the mid $40s. How soon before Saylor’s Shipmates ask about the life-boats? $BTCpic.twitter.com/YLfjSDdw9H
As Cointelegraph reported, Bitcoin is following the 2022 bear market trajectory so far, with a near 100% correlation in 2025. The true BTC price rebound may not occur until well into the first quarter of next year if this trend continues.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Ripple Labs has received approval from Singapore’s central bank to expand its payment activities in the region, amid a broader push to grow its business and institutional-focused offerings through acquisitions.
Ripple’s Singapore subsidiary, Ripple Markets APAC, has been approved by the Monetary Authority of Singapore (MAS) to expand the scope of its regulated payment activities under its Major Payment Institution (MPI) license, the company said on Monday.
Monica Long, Ripple’s President, said in a statement that the company values “Singapore’s forward-thinking approach,” and the “expanded license strengthens our ability to continue investing in Singapore and to build the infrastructure financial institutions need to move money efficiently, quickly, and safely.”
Ripple Payments’ system uses digital payment tokens such as its stablecoin RLUSD and XRP (XRP) for cross-border transactions. The service was created to act as an on-ramp and off-ramp that supports collection, holding, swapping and payouts for banks and companies, according to Ripple.
Ripple was approved for its MPI license in 2023, which allowed it to offer regulated digital payment token services in Singapore.
As of Monday, the MAS website still only lists digital payment token services under Ripple’s license, which “refers to buying or selling digital payment tokens or providing a platform to allow users to exchange digital payment tokens.”
Ripple has been operating in Singapore since 2017, and the company said the area is “pivotal” to its global business.
Crypto use in the Asia Pacific region surges
Meanwhile, Fiona Murray, Ripple’s vice president and managing director in the Asia Pacific, said the region has also been experiencing huge growth, with onchain activity up roughly 70% year-over-year in the area, and Singapore sitting “at the center of that growth.”
“With this expanded scope of payment activities, we can better support the institutions driving that growth by offering a broad suite of regulated payment services, bringing faster, more efficient payments to our customers.”
The total value received was up 69% to $2.36 trillion, led by India, Pakistan and Vietnam, while the Philippines, South Korea and Thailand also featured in the top 20.
Bitcoin (BTC) failed to reclaim $93,000 despite positive momentum in the US stock market and rising gold prices. With the S&P 500 trading just 1% below its all-time high, traders are evaluating what could spark sustainable bullish momentum for Bitcoin.
Key takeaways:
Demand for BTC put (sell) options and stagnant ETF inflows kept momentum capped despite easing macroeconomic conditions.
AI-driven tech relief has cut market stress, but BTC strength relies on holding $90k as investors bet on liquidity support amid softer job market data.
Fed target rate expectations for Dec. 10. Source: CME Group FedWatch Tool
Bond market futures data from CME Group shows traders assigning 87% odds to an interest rate cut on Dec. 10, up from 71% the prior week.
Signs of weakness US the US job market prompted investors to expect a more expansionary monetary policy. The US Labor Department noted that continuing claims climbed to 1.96 million in the week ending Nov. 15.
Meanwhile, the sentiment in BTC derivatives was not significantly altered by the recent price weakness, yet demand for bullish positioning remains notably cautious.
Bitcoin monthly futures held a 4% premium over spot markets on Saturday, unchanged from the previous week.
Under neutral conditions, this basis typically ranges from 5% to 10% to reflect carrying costs. The lack of appetite for leveraged long positions may indicate lingering concerns after Bitcoin’s 18% pullback over the past 30 days.
BTC options markets can help evaluate whether whales and market makers fear additional downside. Bearish phases are often marked by increased demand for put (sell) options.
Bitcoin options put-to-call premium volumes at Deribit, USD. Source: laevitas.ch
Volumes on put options far exceeded call (buy) instruments on Thursday and Friday, signaling elevated uncertainty. A more neutral market would require put-to-call premium volumes at 1.3x or below. While still well off the 5x peak level favoring downside protection seen on Nov. 21, overall sentiment in Bitcoin derivatives remains cautious.
Part of this hesitation stems from stagnant flows into Bitcoin exchange-traded funds (ETF), which added only $70 million in net assets during the week ending Nov. 28.
Additionally, none of the companies that use Bitcoin as a primary reserve asset have expanded their holdings over the past two weeks, according to CoinGlass data.
Top companies holding BTC reserves. Source: CoinGlass
Strategy last added Bitcoin on Nov. 17. More concerningly, holdings attributed to SpaceX moved 1,163 BTC to two new addresses on Thursday, fueling speculation about a potential sale.
It remains unclear whether Elon Musk’s privately held aerospace company changed custodians, as no official statements have been issued.
Trump’s tax-cut plans boosted scarce assets
During the US holiday, President Donald Trump reiterated plans to substantially cut income taxes, citing revenue expected from import tariffs.
Investors grew more willing to take risks as it became clear that government debt would remain under heavy upward pressure, a backdrop typically supportive of scarce assets. Gold gained 3.8% during the week, while silver surged to a new all-time high.
Concerns around the artificial intelligence sector eased after Google’s custom TPU chip enabled Gemini to top benchmarks in coding, math, science and multimodal reasoning.
The breakthrough boosted investor confidence, as the technology uses far less energy than GPU-based processing. Alphabet (GOOG US) gained 6.8% on the week, helping reduce fears about Nvidia’s (NVDA US) growth outlook.
S&P 500 Index (left) vs. Bitcoin/USD (right). Source: TradingView / Cointelegraph
Bitcoin’s path to $100,000 appears increasingly independent of broad macro trends, however, as its correlation with tech stocks continues to fade.
The longer BTC holds above $90,000, the more confident bulls become, supported by the return of ETF inflows, less risk aversion in BTC derivatives, and the likelihood of liquidity injections from the central bank.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Bitcoin (BTC) failed to reclaim $93,000 despite positive momentum in the US stock market and rising gold prices. With the S&P 500 trading just 1% below its all-time high, traders are evaluating what could spark sustainable bullish momentum for Bitcoin.
Key takeaways:
Demand for BTC put (sell) options and stagnant ETF inflows kept momentum capped despite easing macroeconomic conditions.
AI-driven tech relief has cut market stress, but BTC strength relies on holding $90k as investors bet on liquidity support amid softer job market data.
Fed target rate expectations for Dec. 10. Source: CME Group FedWatch Tool
Bond market futures data from CME Group shows traders assigning 87% odds to an interest rate cut on Dec. 10, up from 71% the prior week.
Signs of weakness US the US job market prompted investors to expect a more expansionary monetary policy. The US Labor Department noted that continuing claims climbed to 1.96 million in the week ending Nov. 15.
Meanwhile, the sentiment in BTC derivatives was not significantly altered by the recent price weakness, yet demand for bullish positioning remains notably cautious.
Bitcoin monthly futures held a 4% premium over spot markets on Saturday, unchanged from the previous week.
Under neutral conditions, this basis typically ranges from 5% to 10% to reflect carrying costs. The lack of appetite for leveraged long positions may indicate lingering concerns after Bitcoin’s 18% pullback over the past 30 days.
BTC options markets can help evaluate whether whales and market makers fear additional downside. Bearish phases are often marked by increased demand for put (sell) options.
Bitcoin options put-to-call premium volumes at Deribit, USD. Source: laevitas.ch
Volumes on put options far exceeded call (buy) instruments on Thursday and Friday, signaling elevated uncertainty. A more neutral market would require put-to-call premium volumes at 1.3x or below. While still well off the 5x peak level favoring downside protection seen on Nov. 21, overall sentiment in Bitcoin derivatives remains cautious.
Part of this hesitation stems from stagnant flows into Bitcoin exchange-traded funds (ETF), which added only $70 million in net assets during the week ending Nov. 28.
Additionally, none of the companies that use Bitcoin as a primary reserve asset have expanded their holdings over the past two weeks, according to CoinGlass data.
Top companies holding BTC reserves. Source: CoinGlass
Strategy last added Bitcoin on Nov. 17. More concerningly, holdings attributed to SpaceX moved 1,163 BTC to two new addresses on Thursday, fueling speculation about a potential sale.
It remains unclear whether Elon Musk’s privately held aerospace company changed custodians, as no official statements have been issued.
Trump’s tax-cut plans boosted scarce assets
During the US holiday, President Donald Trump reiterated plans to substantially cut income taxes, citing revenue expected from import tariffs.
Investors grew more willing to take risks as it became clear that government debt would remain under heavy upward pressure, a backdrop typically supportive of scarce assets. Gold gained 3.8% during the week, while silver surged to a new all-time high.
Concerns around the artificial intelligence sector eased after Google’s custom TPU chip enabled Gemini to top benchmarks in coding, math, science and multimodal reasoning.
The breakthrough boosted investor confidence, as the technology uses far less energy than GPU-based processing. Alphabet (GOOG US) gained 6.8% on the week, helping reduce fears about Nvidia’s (NVDA US) growth outlook.
S&P 500 Index (left) vs. Bitcoin/USD (right). Source: TradingView / Cointelegraph
Bitcoin’s path to $100,000 appears increasingly independent of broad macro trends, however, as its correlation with tech stocks continues to fade.
The longer BTC holds above $90,000, the more confident bulls become, supported by the return of ETF inflows, less risk aversion in BTC derivatives, and the likelihood of liquidity injections from the central bank.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
The US Nasdaq stock exchange is making SEC approval of its proposal to offer tokenized versions of stocks listed on the exchange a top priority, according to the exchange’s crypto chief.
“We’ll just move as fast as we can,” Nasdaq’s head of digital assets strategy, Matt Savarese, said during an interview with CNBC on Thursday, when asked whether the SEC could approve the proposal this year.
“I think what we have to really evaluate where the public comments come back in and then answer and respond to the SEC questions as they come through,” Savarese said. “We hope to kind of work with them as quickly as possible,” Savarese said.
Savarese says Nasdaq isn’t “upending the system”
The proposal, submitted by Nasdaq on Sept. 8, is requesting to allow investors to buy and sell stock tokens — digital representations of shares in publicly traded companies — on the exchange.
Savarese emphasized that Nasdaq is not trying to overhaul the way stocks are invested in when asked whether he expects other major exchanges to follow suit.
Nasdaq’s head of digital assets, Matt Savarese, spoke to CNBC on Thursday. Source: CNBC
“We’re not looking at upending the system; we want everyone to come along for that ride and bring tokenization more into the mainstream,” he said.
“We want to do it in that responsible investor-led way first, under the SEC rules themselves,” he added.
It was only in October that Robinhood CEO Vlad Tenev said that tokenization will “eventually eat the whole financial system.”
The crypto industry is divided on tokenized equities
Savarese emphasized that Nasdaq is aiming to be an innovator in the ecosystem, noting that the exchange was the first to transition markets from paper-based trading to electronic systems.
Tokenizing stocks has been one of the most significant talking points in the crypto industry this year.
On Sept. 3, Galaxy Digital CEO Mike Novogratz said the company became the first Nasdaq-listed company to tokenize its equity on a major blockchain following its launch on the Solana network.
The conversation around tokenized equities has also drawn skepticism from the crypto industry.
On Oct. 1, Rob Hadick, general partner at crypto venture firm Dragonfly, told Cointelegraph that tokenized equities will be a significant benefit to traditional markets, but may not be a boon to the crypto industry as others have predicted.
Hadick said that if tokenized stocks use layer-2 networks, it creates “leakage” as value and may not flow back to Ethereum or the broader crypto ecosystem as much as hoped.
The US Nasdaq stock exchange is making SEC approval of its proposal to offer tokenized versions of stocks listed on the exchange a top priority, according to the exchange’s crypto chief.
“We’ll just move as fast as we can,” Nasdaq’s head of digital assets strategy, Matt Savarese, said during an interview with CNBC on Thursday, when asked whether the SEC could approve the proposal this year.
“I think what we have to really evaluate where the public comments come back in and then answer and respond to the SEC questions as they come through,” Savarese said. “We hope to kind of work with them as quickly as possible,” Savarese said.
Savarese says Nasdaq isn’t “upending the system”
The proposal, submitted by Nasdaq on Sept. 8, is requesting to allow investors to buy and sell stock tokens — digital representations of shares in publicly traded companies — on the exchange.
Savarese emphasized that Nasdaq is not trying to overhaul the way stocks are invested in when asked whether he expects other major exchanges to follow suit.
Nasdaq’s head of digital assets, Matt Savarese, spoke to CNBC on Thursday. Source: CNBC
“We’re not looking at upending the system; we want everyone to come along for that ride and bring tokenization more into the mainstream,” he said.
“We want to do it in that responsible investor-led way first, under the SEC rules themselves,” he added.
It was only in October that Robinhood CEO Vlad Tenev said that tokenization will “eventually eat the whole financial system.”
The crypto industry is divided on tokenized equities
Savarese emphasized that Nasdaq is aiming to be an innovator in the ecosystem, noting that the exchange was the first to transition markets from paper-based trading to electronic systems.
Tokenizing stocks has been one of the most significant talking points in the crypto industry this year.
On Sept. 3, Galaxy Digital CEO Mike Novogratz said the company became the first Nasdaq-listed company to tokenize its equity on a major blockchain following its launch on the Solana network.
The conversation around tokenized equities has also drawn skepticism from the crypto industry.
On Oct. 1, Rob Hadick, general partner at crypto venture firm Dragonfly, told Cointelegraph that tokenized equities will be a significant benefit to traditional markets, but may not be a boon to the crypto industry as others have predicted.
Hadick said that if tokenized stocks use layer-2 networks, it creates “leakage” as value and may not flow back to Ethereum or the broader crypto ecosystem as much as hoped.
Crypto’s chronic insider trading problem is expanding from token launches to digital asset treasuries (DATs), as investors exploit early knowledge of upcoming corporate coin purchases.
The issue runs deeper than a few bad actors, according to Shane Molidor, founder and CEO of the blockchain advisory firm Forgd. He described insider-style behavior as a structural feature of crypto markets, where prices often detach from fair value.
A veteran of both Western and Asian trading desks, Molidor told Cointelegraph that many of crypto’s early institutions still treat regulation as an afterthought. “In the West, it’s ask permission rather than forgiveness,” he said. “In the East, it’s move fast, make as much money as possible and deal with the consequences later.”
Molidor previously held leadership roles at crypto exchanges AscendEX and the Winklevoss twins’ Gemini. He led trading at market maker FBG Capital in China before launching Forgd. The company, which calls itself a Web3 investment bank, advises on tokenomics design, market maker relationships and exchange listings.
DATs rotate to Ether and Solana as Bitcoin treasuries saturate. Source: Standard Chartered
As DATs gain traction, the same market dynamics driving insider behavior in token trading are now surfacing in institutional products, Molidor warned.
“Even a small amount of buy-side demand can have a huge market impact when the assets are illiquid,” he said. “It’s a virtuous loop — until it isn’t.”
The mechanics behind crypto’s engineered launches
In crypto, new token listings prioritize spectacle over fair market discovery, according to Molidor, who explained that stakeholders in the listing process — exchanges, market makers and token issuers — are “self-interested and profit-motivated.” That dynamic, he said, shapes how new assets are introduced to retail traders.
Exchanges can underprice tokens and keep liquidity thin at launch, so even small bursts of buying from retail users push prices higher. “They’re incentivized to curate prices to go up and to the right,” Molidor said. “They can accomplish this through lesser-known tactics, like purposefully underpricing a token launch at TGE or layering thin liquidity.”
Retail traders interpret the early green candles as signs of strength and rush to buy in, unaware that their own orders are what’s driving the surge. “Everyone thinks they’re getting a fair and reasonable cost basis, but they’re not,” he said. “They’re buying all-time highs and then catalyzing a very poor user experience thereafter.”
Analysis finds tokens on Binance surge after listing. Source: Ren & Heinrich
According to Molidor, this cycle benefits exchanges most. Each listing creates a new round of volume, headlines and user activity, even if prices collapse soon after.
“It’s just a marketing ploy,” he said. “They like to say, ‘The new asset we gave you early access to is now trading at a 10- or 20-times premium,’ but there wasn’t fair and efficient price discovery at the open.”
Throughout Molidor’s career, he observed a clear regional divide in listing processes. Western exchanges like Coinbase follow a slower and more traditional route using auction-based listings that aim for fair pricing but delay trading. By contrast, Asian exchanges favor faster launches designed to capture speculative momentum.
“Coinbase’s approach is more efficient,” Molidor said, “but it doesn’t resonate with speculative retail demographics.”
Crypto’s market tricks are appearing in crypto treasuries
The same behaviors are now emerging in DATs, or companies that buy cryptocurrencies to add to their balance sheets. Molidor said the trend has expanded from early insider-style trading in tokens through institutional products.
He explained that DATs began by accumulating large-cap coins like Bitcoin (BTC), where liquidity is deep and price discovery is efficient. But as competition increased, many of these vehicles are targeting smaller and less liquid tokens in search of higher upside.
That shift makes DATs more vulnerable to manipulation.
The process behind treasury fundraising also opens the door to front-running. During outreach to potential backers, insiders can access early information on which tokens will be purchased. This opens up chances to front-run and simply purchase the asset on the secondary market in anticipation of future price appreciation.
“Now that we’re getting into lower-valuation, lower-liquidity assets, front-running is becoming much more evident,” he added.
“What we’ve found with DATs is that the unspoken goal is often to trigger enough market impact in the underlying spot asset to drive noticeable price appreciation. That, in turn, fuels fear of missing out among speculative buyers, who then push prices even higher.”
But this feedback loop cuts both ways. Once buying pressure slows, the same thin liquidity that pushed prices up can send them collapsing. With few disclosure requirements and little connection to fundamentals, price becomes the only measure of value — and that price can be easily distorted.
“If the price becomes our only proxy for fair value and price can be heavily influenced and manipulated by even a small amount of buying and selling, then you can have runaway capitulation,” Molidor added.
Early examples of how corporate crypto purchases can move markets were seen in 2020 and 2021, when Tesla and MicroStrategy first added Bitcoin to their balance sheets. Back then, the market was thinner and more sentiment-driven, so even modest announcements sparked sharp rallies.
Today, Bitcoin trades with much deeper liquidity and broader institutional participation, so such news barely moves the needle. Molidor said the “virtuous loop” is now more visible in smaller, less liquid assets that still react sharply to treasury or fund purchases.
How Bitcoin’s price reacted to Tesla’s purchase on Feb. 8, 2021. Source: CoinGecko
Insider dynamics still define how crypto moves
The blurred line between token markets and institutional products shows how deeply speculation and information asymmetry remain woven into crypto’s core.
As Molidor sees it, the path forward is about better alignment between blockchain founders, exchanges and the institutions now flooding in. Most token projects still launch with “brilliant tech and terrible market strategy,” he said, while many institutional entrants fail to grasp the mechanics of crypto’s capital markets.
“The problem is that both sides misunderstand each other,” he said. “Founders don’t know how to operate within financial systems, and institutions don’t understand how crypto markets really function.”
The influx of institutional money may legitimize crypto in the eyes of traditional finance, but it also imports new risks from a structure that still lacks transparency.
The next phase of the market will test whether participants can evolve beyond that model.
“You’re giving exposure to something that many investors don’t truly understand,” Molidor said. “When prices reconverge with fair value, that misunderstanding becomes very real.”
Before 2021, China controlled a large share of global Bitcoin (BTC) mining. Data from the Cambridge Bitcoin Electricity Consumption Index shows that Chinese miners produced about 65% of the world’s Bitcoin computing power in 2020.
In 2021, the Chinese government moved to stop mining activity. Authorities cited concerns about financial risks, capital outflows and the high electricity use required for mining. In September 2021, the People’s Bank of China declared all cryptocurrency transactions illegal and confirmed the nationwide ban on mining.
The immediate result was a sharp drop in global hashrate as many Chinese mining facilities closed or moved their equipment to countries such as the US, Kazakhstan and Russia.
Even though China banned crypto mining, global electricity use by BTC miners kept rising. The decline in the nation was offset by rapid growth in other countries. Yearly electricity use for Bitcoin mining increased from 89 terawatt-hours (TWh) in 2021 to about 121.13 TWh in 2023.
Total Bitcoin electricity consumption
The 2024-2025 recovery of mining operations
Mining operations have resumed in various parts of China, though they are smaller and less visible than the large farms that operated in the past.
According to Hashrate Index data reported in October 2025, China now accounts for about 14% of global Bitcoin mining, making it the third-largest mining country after the US and Kazakhstan. Analysts at the onchain research firm CryptoQuant go further, estimating that the real share of Bitcoin mining in China is between 15% and 20%.
Fast-rebounding sales of rig maker Canaan, one of the largest manufacturers of Bitcoin mining machines, also point to a resurgence in Bitcoin mining in China. China accounted for only 2.8% of Canaan’s revenue in 2022. By 2023, the figure had risen to 30%, and industry sources say it exceeded 50% in the second quarter of 2025.
Did you know? Bitcoin’s network is secured by miners competing to solve cryptographic puzzles, yet no single entity has ever controlled it long-term. Geographic shifts from China to the US to Central Asia show its resilience against political and economic disruptions.
Reasons behind the resurgence of mining operations in China
According to a Reuters report, mining operations have restarted in Xinjiang and Sichuan over the past two years or so. Xinjiang is an energy-abundant province that has supported mining activity. Since much of its surplus energy cannot be transmitted out of the region, it is often used for crypto mining.
Many inland regions of China produce more electricity than they can efficiently transmit to coastal cities. In provinces such as Xinjiang and Sichuan, surplus power drawn mainly from coal would otherwise go unused. Using this low-cost or stranded electricity to run mining machines has become a profitable option.
Local governments have also built large data centers in recent years. When regular demand for these facilities is lower than expected, owners can rent space and power to Bitcoin miners. Rising Bitcoin prices since 2024 have further boosted the profits of these miners.
Excessive data center capacity combined with rising Bitcoin prices may have created an optimal environment for the resurgence of cryptocurrency mining.
The underlying factors behind the increase in Bitcoin mining activity include the following:
Availability of inexpensive or underutilized power: When provinces such as Xinjiang and Sichuan have more than enough power, the surplus can be used for mining.
Surplus computing infrastructure: Overdeveloped data center facilities are actively seeking clients to make use of their capacity.
Elevated Bitcoin price environment: A high Bitcoin price, supported in part by favorable cryptocurrency policy changes in the US, improves mining profitability.
The resurgent mining activity is concentrated in power-abundant regions:
Xinjiang with plentiful coal and wind power, along with established industrial facilities.
Sichuan, known for low-cost hydropower during the rainy season.
Other western provinces with surplus energy and favorable local conditions.
Did you know? Every four years, Bitcoin undergoes a halving that cuts miner rewards by 50%. This built-in scarcity mechanism mimics gold extraction and often triggers major market cycles while shaping long-term supply dynamics.
Changing attitude of China toward digital assets
China’s policy toward digital assets is moving away from outright rejection and shifting toward selective, strategic acceptance. Beijing is showing greater openness to carefully regulated digital asset infrastructure.
Hong Kong’s stablecoin licensing framework, which took effect in August 2025, reflects this broader approach. Hong Kong is part of China, though designated as a Special Administrative Region.
On the mainland, authorities are exploring yuan-backed stablecoins as a way to increase the international use of the renminbi, China’s currency. China is also rapidly advancing its central bank digital currency, the e-CNY, and integrating it into public services, cross-border pilot programs and everyday retail payments.
These developments show that China’s approach is shifting from comprehensive bans to controlled experimentation. Digital assets that support financial stability and advance national economic goals may be allowed to operate.
