Hyperliquid closed out 2025 with $844 million in revenue, $2.95 trillion in trading volume, and more than 600,000 new users. Perpetuals generated $848.33 million in fees, while Bitcoin led activity at $1.16 trillion. The exchange also reported $3.87 billion in net inflows and expanded HIP-3 listings to global equities.

On December 28, 2025, Uniswap executed its UNIfication fee-burning upgrade on mainnet and removed 100 million UNI, valued at $635 million, from its treasury. The move followed a governance proposal that secured over 125 million supporting votes and activated protocol fees on selected v2 and v3 pools, contributing to a 5.4% rebound in UNI's price over 24 hours to $6.34.

Bitwise CIO Matt Hougan and ReserveOne CIO Sebastian Bea expect Bitcoin to post solid but not exceptional returns over the next ten years. Hougan argues that post‑2024 ETF flows, regulation, tokenization and stablecoins are reshaping the market into a lower‑volatility ten‑year grind and eroding the traditional four‑year cycle. Bea and other analysts say it is still unclear whether that historic pattern is finished, while a planned $99 trillion DTCC tokenization push may help define a new phase in Bitcoin's ownership and price behavior.

On December 17, Cardano released a 2030 roadmap repositioning the blockchain from a research-focused network to a commercially driven "World's Operating System" anchored on clear KPIs. The plan targets 1 million monthly active wallets, $3 billion in TVL and 324 million annual transactions by 2030, supported by upgrades like Hydra and Ouroboros Leios. The framework also reforms treasury funding, introduces batched grant rounds and sets revenue goals of at least 16 million ADA, based on an assumed ADA price of $5.

AVAX climbed more than 2% after VanEck revised its Avalanche ETF filing with the U.S. SEC to incorporate on-chain staking and appointed Coinbase Crypto Services as staking provider. The planned ETF aims to mirror AVAX price performance and staking returns with a 0.30% management fee, while AVAX traded around $12.22 amid rising open interest but softer trading volumes.

Jim Cramer said OpenAI should raise at least $200B, citing a $300B obligation to Oracle, to shore up the data center trade. He warned the sector could slump without swift funding and floated a $1T valuation. U.S. stocks rose on December 19, with AI-linked names such as Oracle and Nvidia gaining.

As of December 20, 2025, new Bitcoin whales account for nearly 50% of the asset's realized cap, up from 22% before this year. Corporate treasuries span 151 firms holding over 1 million BTC, and U.S. spot ETFs have recorded year‑to‑date inflows above $22 billion, highlighting rising institutional demand and firmer price bases.

On December 20, 2025, a crypto investor mistakenly sent $50 million in USDT to a poisoned address. Within 30 minutes, the funds were swapped to DAI and then 16,690 ETH, with 16,680 ETH routed through Tornado Cash; on-chain timestamps show a 0.005 USDT test and the large transfer minutes apart.

The Eigen Foundation has proposed ELIP-12, an incentive overhaul that would increase rewards for active restakers and fee-paying AVSs on the EigenLayer network. A new Incentives Committee would manage EIGEN emissions, redirect fees from EigenCloud services, and discourage idle stakes. Weekly EIGEN minting levels would be set by governance but could only be changed with Protocol Council approval.