Onchain data from Bubblemaps revealed that roughly $250 million was withdrawn from decentralized perpetual exchange Lighter after it airdropped $675 million worth of LIT on Tuesday.
In an X post, Bu… [+1576 chars]

Bubblemaps CEO says outflows seen on Lighter on Dec. 31 are not uncommon as users rebalance hedging positions and move on to the next farming opportunity.

CoinDesk

Lighter trading platform sees $250 million withdrawn 24 hours after airdrop

Crypto asset manager Bitwise filed with the U.S. Securities and Exchange Commission to introduce 11 crypto "strategy" exchange-traded funds (ETFs) including aave AAVE
$149.34, uniswap UNI
$5.9143, … [+1408 chars]

The funds will allocate up to 60% of assets directly to tokens like SUI, UNI and STRK.

Bitwise files for 11 'strategy' ETFs, tracking tokens including AAVE, ZEC, TAO

Lighters LIT token has not yet begun open trading, but the market has already drawn a sharp line around its valuation after Tuesday's airdrop.
Traders are split on whether the new governance token o… [+1295 chars]

Prediction markets show traders clustering around a $2 billion–$3 billion range, with odds for $4 billion and $6 billion outcomes falling steadily after October's crash.

Traders split over whether Lighter’s LIT clears $3 billion FDV after launch

Perpetuals-focused Ethereum-based Layer 2 decentralized exchange (DEX) Lighter has announced the debut of its native cryptocurrency, the Lighter Infrastructure Token (LIT), to align traders, builders… [+2656 chars]

The LIT token supply is split evenly between the ecosystem and team/investors, with a portion airdropped to early participants.

Lighter DEX launches LIT token with 25% airdrop

Ripple-linked payments token XRP and smart-contract platform ADA
$0.3766 must demonstrate genuine utility beyond loyal communities as the cryptocurrency market matures from hype-driven narratives to… [+2051 chars]

Can Ripple and Cardano hold it together as the market matures to fundamental-focused projects, Galaxy's Novogratz asked Friday.

XRP and Cardano need to prove they're useful beyond just fans, Mike Novogratz says

Crypto Markets Today will be on hiatus for a while starting Wednesday. We'll be back Jan. 5 with your regular trading update and market analysis . Wishing you and yours a wonderful holiday season!
I… [+3064 chars]

Most tokens that debuted this year are trading below their initial valuations.

Crypto Markets Today: Cardano-based NIGHT crashes, ZEC, XMR also drop

Jeff Yan rarely speaks in public, avoids social media, and has never taken venture capital money. But in 2025, few individuals have had a bigger influence on the shape of decentralized finance (DeFi)… [+5329 chars]

Jeff Yan, founder of Hyperliquid, has quietly built a $308 billion volume DEX with over half a million users, influencing DeFi while avoiding public attention.

Most Influential: Jeff Yan

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook… [+3983 chars]

Cantor says Hyperliquid is trading infrastructure, not speculative DeFi, with HYPD and PURR offering exposure to fees, buybacks, and CEX share gains.