Early Bitcoin Advocate Erik Voorhees Once Again Moves 1635 ETH to THORChain to Swap for BCH

Cointelegraph reported on December 25 that CoinGlass has released a report showing cryptocurrency derivatives trading volume hit $85.7 trillion in 2025, with a daily average of roughly $2.645 trillion. Binance led the market with total derivatives volume of around $25.09 trillion, making up 29.3% of global volume. OKX, Bybit and Bitget followed closely, with annual volumes ranging from $8.2 trillion to $10.8 trillion. Combined, these four exchanges accounted for roughly 62.3% of the market share. The report notes that by 2025, the derivatives market shifted from a retail-dominated high-leverage model to institutional hedging, basis trading and ETFs. However, the growing leverage chain has boosted tail risk. Global crypto derivatives open interest fell to an annual low of roughly $87 billion in Q1 2025 following deleveraging, before hitting a record high of $235.9 billion on October 7.

Per CoinGlass data, total crypto market liquidations in 2025 have topped $150 billion as of December 25th, with average daily liquidations ranging from $400 million to $500 million.

On December 25th, on-chain analyst @alicharts reported that an Ethereum whale has purchased 220,000 ETH over the past week, with the holdings valued at roughly $660 million.

On December 25th, Polymarket’s current probabilities for Bitcoin’s December price moves are: 9% chance of falling below $80,000, 3% chance of dropping below $75,000, and 10% chance of surpassing $95,000.

On-chain Perps Volume is cooling off during the market downturn — except on Tron. Tron's daily Perps Volume has topped $1B for two days straight, and 7-day Perps Volume reached $5.77B, up 176% WoW.

On December 25, Infinex founder Kain Warwick took to social media to address the reduction in INX token sale proceeds and fully diluted valuation (FDV), saying: “The ICO was supposed to be attractive enough. If the price seems too steep or terms don’t align with backers’ interests, it could easily spark negative sentiment—and the market’s already drowning in ‘bad vibes’ right now.” We launched the Sonar round to give participants a chance to buy INX tokens before the Token Generation Event (TGE). Initially, we set the FDV at $3 billion with a 1-year lockup—but market feedback made clear this valuation was too high for current conditions, and conditions haven’t improved. We’ve listened to the community, so we’re cutting the FDV to $99.99 million. The 1-year lockup is meant to weed out participants who only plan to dump tokens for a quick profit at TGE. As previously reported, Infinex has updated its Sonar token sale details on Echo. The sale will offer 5% of total token supply,