XRP's operational landscape has undergone a fundamental transformation following the conclusion of its SEC lawsuit, according to Matt Hougan, Chief Investment Officer at Bitwise. U.S. spot XRP ETFs have posted 16 consecutive days of net inflows, with combined assets nearing $1 billion. The regulatory clarity has enabled institutional participation that was previously constrained by litigation uncertainty.

The XRP Ledger recorded a network velocity of 0.0324 on December 2, marking a 2025 high for the metric. The increase reflects heightened token circulation and liquidity across the network. Data shows active transfers between addresses and peak user engagement levels for the year, according to CryptoQuant.

BitMine purchased approximately $200 million worth of Ethereum in two transactions this week, further consolidating its position as the largest institutional holder of the asset. The firm acquired 22,676 ETH for $68.7 million on December 6, following a $130.8 million purchase of 41,946 ETH on December 5. BitMine's total Ethereum holdings now exceed 3.73 million ETH, valued above $11 billion.

Ethereum holdings on centralized exchanges dropped to 8.7% of total supply last Thursday, marking the lowest level since the network's mid-2015 launch, data show. The decline represents a 43% reduction since early July, driven by staking protocols, Layer-2 bridging, and institutional accumulation removing ETH from available markets. Bitcoin exchange balances currently stand at 14.7%, significantly higher than Ethereum's depleted reserves.

The altcoin market displays potential bottom signals amid Bitcoin's consolidation phase. Open Interest across non-BTC/ETH assets climbed 1.85% to $17 billion. A trader opened a $300 million leveraged position across ETH, XRP, and HYPE, currently facing $20.64 million in unrealized losses.

CoinShares Head of Research James Butterfill defended Tether's financial stability after BitMEX Co-Founder Arthur Hayes raised concerns about potential insolvency risks. Tether holds approximately $181 billion in reserves against $174.45 billion in liabilities, maintaining a $6.55 billion surplus. USDT recorded $719.83 billion in on-chain transaction volume in November.

BitMine Immersion Technologies purchased $199 million worth of Ether in two transactions, expanding its total holdings to approximately $11.3 billion. The firm now controls 3.08% of all ETH in circulation and continues advancing toward its 5% ownership target.

Ripple transferred 250 million XRP to an unidentified wallet, reducing tokens available in immediate selling zones. XRP has formed a potential double-bottom pattern near $1.99, with the $2.2443 level serving as the key resistance for a move toward $2.50. Exchange reserves fell 2.51% while funding rates surged over 460%, according to CryptoQuant data.