- Dogecoin faces a decline in retail demand and waning institutional interest:
Interest in Dogecoin has dropped significantly since the sudden crash on October 10, with open interest in futures contracts decreasing by approximately 71% to $1.21 billion on Friday from $4.4 billion.
The meme coin has experienced steady growth in open trading volume, reaching $6 billion on September 14. This rise coincided with an increase in trading volume, as its price surged to $0.3068 from $0.1298 in April, confirming the role of retail markets in driving value growth. However, with a notable decline in open trading volume, it may be challenging for Dogecoin to sustain this recovery.
Open interest in Dogecoin | Source: Coin Glass
Meanwhile, institutional interest in Dogecoin ETFs( has waned. According to SoSoValue data, these funds have not recorded any cash flows since December 10, when inflows reached $172,000.
The total net inflow of funds has amounted to $205 million, with net assets of $4.96 million. There are two US-licensed exchange-traded funds (ETFs) for Dogecoin), namely GDOG by Grayscale and BWOW by Bitwise.
Dogecoin ETF statistics | Source: SoSoValue

- What does the future hold for Bitcoin in 2026?
Looking ahead, the Bitcoin market is currently focused on structural changes, cash flows, macroeconomic reorganization, and clearer regulations. Here are some potential forecasts for Bitcoin in 2026.
Post-distribution phase and return of buying demand
A report from K33 Research indicates that by 2026, expectations point to a shift away from the intense distribution phase observed in 2024 and 2025, with a slowdown in long-term holder selling activity.
The report suggests that the supply of Bitcoin over a two-year period is expected to end its multi-year downtrend and close 2026 above the current level of 12.16 million Bitcoins, indicating a renewed holding behavior rather than continued redistribution among Bitcoin investors.
Sold to children aged two or older. Source: K33 Research
With nearly 20% of the total supply already reactivated over the past two years, as shown below, on-chain sell-side pressure is approaching saturation, paving the way for a return of net buy-side demand.
Percentage of total supply reactivated over the past two years, with a two-year or longer lifespan. Source: K33 Research
Thanks to deeper market liquidity, expanded institutional access, and clearer regulatory frameworks, 2026 is expected to be a post-distribution year characterized by improved supply stability and a more demand-driven market structure.

- Bitcoin in 2025: Favorable Regulatory Shifts, Institutional Adoption, and Record Volatility
A turbulent journey between all-time highs and sharp corrections
Bitcoin's price reached a new all-time high of $126,199 on October 6, pushing its market cap briefly above $2.47 trillion, making it the seventh-largest asset in the world, surpassing tech giants like (AMZN) and Meta Platforms (META).
However, the surge was followed by a sharp correction, with Bitcoin's price dropping to around $85,000 in mid-December. Although 2025 ended with relative stability, it was a volatile period marked by record highs, steep declines, and high fluctuations.
President Trump's Support for Cryptocurrencies
Donald Trump's victory in the November 2024 U.S. presidential election was seen as a positive indicator for Bitcoin and digital currency markets. During his campaign, Trump adopted a pro-cryptocurrency stance and promised to bring about a radical change in U.S. policy towards them, contrasting with the Biden administration's strict crackdown on the sector, which included more than 100 enforcement actions by the U.S. Securities and Exchange Commission against crypto companies.
The positive development for digital currencies began with the announcement by SEC Chairman Gary Gensler on November 21, 2024, of his resignation, effective January 20, the day of President Trump's inauguration. This news had a positive impact on the crypto markets, as Gensler had previously taken a stance opposed to digital asset policies.
The chart below from CryptoQuant shows that the percentage of monthly growth in Bitcoin holdings among major investors accelerated from -0.25% on January 14 to +2% on January 17, marking the highest monthly rate since mid-December 2024. This surge in demand pushed Bitcoin's price to a new record high of $109,588 on Inauguration Day, January 20. However, the price retreated to $100,000 shortly after Trump's oath of office.
Total Bitcoin whale holdings on Inauguration Day. Source: CryptoQuant
$BTC Meanwhile, U.S. President Donald Trump announced on Truth Social that he issued an unconditional pardon for Ross Ulbricht, the founder of the Silk Road marketplace on the dark web.
U.S. federal authorities arrested Ulbricht in 2013 and sentenced him to life imprisonment for creating and operating a website (Silk Road) that allowed users to buy and sell illegal drugs, along with other illegal products and services. This news boosted confidence within the crypto community, as Trump fulfilled his promise to the sector.

- Bitcoin in 2025: Favorable Regulatory Shifts, Institutional Adoption, and Record Volatility
A turbulent journey between all-time highs and sharp corrections
Bitcoin's price reached a new all-time high of $126,199 on October 6, pushing its market cap briefly above $2.47 trillion, making it the seventh-largest asset in the world, surpassing tech giants like (AMZN) and Meta Platforms (META).
However, the surge was followed by a sharp correction, with Bitcoin's price dropping to around $85,000 in mid-December. Although 2025 ended with relative stability, it was a volatile period marked by record highs, steep declines, and high fluctuations.
President Trump's Support for Cryptocurrencies
Donald Trump's victory in the November 2024 U.S. presidential election was seen as a positive indicator for Bitcoin and digital currency markets. During his campaign, Trump adopted a pro-cryptocurrency stance and promised to bring about a radical change in U.S. policy towards them, contrasting with the Biden administration's strict crackdown on the sector, which included more than 100 enforcement actions by the U.S. Securities and Exchange Commission against crypto companies.
The positive development for digital currencies began with the announcement by SEC Chairman Gary Gensler on November 21, 2024, of his resignation, effective January 20, the day of President Trump's inauguration. This news had a positive impact on the crypto markets, as Gensler had previously taken a stance opposed to digital asset policies.
The chart below from CryptoQuant shows that the percentage of monthly growth in Bitcoin holdings among major investors accelerated from -0.25% on January 14 to +2% on January 17, marking the highest monthly rate since mid-December 2024. This surge in demand pushed Bitcoin's price to a new record high of $109,588 on Inauguration Day, January 20. However, the price retreated to $100,000 shortly after Trump's oath of office.
Total Bitcoin whale holdings on Inauguration Day. Source: CryptoQuant
$BTC Meanwhile, U.S. President Donald Trump announced on Truth Social that he issued an unconditional pardon for Ross Ulbricht, the founder of the Silk Road marketplace on the dark web.
U.S. federal authorities arrested Ulbricht in 2013 and sentenced him to life imprisonment for creating and operating a website (Silk Road) that allowed users to buy and sell illegal drugs, along with other illegal products and services. This news boosted confidence within the crypto community, as Trump fulfilled his promise to the sector.

- From campaign promises to Trump's personal interests in digital assets:
Alongside his positive stance on cryptocurrencies, Donald Trump's increasing involvement in digital assets has boosted confidence in the cryptocurrency market. The Trump family launched the "World Liberty Financial" (WLFI) project, a decentralized finance project built on the Ethereum blockchain, supported by his children (Donald Jr., Eric, and Barron) in September 2024.
Market participants viewed this alignment of personal financial interests and political influence as a strong tailwind for cryptocurrency adoption, and an expectation of favorable policies and regulations for the digital asset industry.
So far in 2025, WLFI tokens have been purchased by many prominent individuals and companies in the crypto space, including Justin Sun, founder of Tron; the UAE-based venture capital firm (Aqua 1); ALT5 Sigma; and many others.
Data from Arkham Intelligence below indicates that WLFI currently holds digital tokens worth $6.93 billion, including Ethereum (ETH), Aave (AAVE), Chainlink (LINK), and others. The decentralized finance project also launched its own stablecoin, USD1, backed 1:1 by the US dollar (USD). In addition to these developments, Trump's interest in digital assets is growing, as his company "Trump Media & Technology Group" (DJT) has applied for a Bitcoin ETF (ETF) with the U.S. Securities and Exchange Commission, which is still under review.
Current WLFI holdings. Source: Arkham Intelligence

- From campaign promises to Trump's personal interests in digital assets:
Alongside his positive stance on cryptocurrencies, Donald Trump's increasing involvement in digital assets has boosted confidence in the cryptocurrency market. The Trump family launched the "World Liberty Financial" (WLFI) project, a decentralized finance project built on the Ethereum blockchain, supported by his children (Donald Jr., Eric, and Barron) in September 2024.
Market participants viewed this alignment of personal financial interests and political influence as a strong tailwind for cryptocurrency adoption, and an expectation of favorable policies and regulations for the digital asset industry.
So far in 2025, WLFI tokens have been purchased by many prominent individuals and companies in the crypto space, including Justin Sun, founder of Tron; the UAE-based venture capital firm (Aqua 1); ALT5 Sigma; and many others.
Data from Arkham Intelligence below indicates that WLFI currently holds digital tokens worth $6.93 billion, including Ethereum (ETH), Aave (AAVE), Chainlink (LINK), and others. The decentralized finance project also launched its own stablecoin, USD1, backed 1:1 by the US dollar (USD). In addition to these developments, Trump's interest in digital assets is growing, as his company "Trump Media & Technology Group" (DJT) has applied for a Bitcoin ETF (ETF) with the U.S. Securities and Exchange Commission, which is still under review.
Current WLFI holdings. Source: Arkham Intelligence

- Bitcoin in 2025: Favorable Regulatory Shifts, Institutional Adoption, and Record Volatility
A turbulent journey between all-time highs and sharp corrections
Bitcoin's price reached a new all-time high of $126,199 on October 6, pushing its market cap briefly above $2.47 trillion, making it the seventh-largest asset in the world, surpassing tech giants like (AMZN) and Meta Platforms (META).
However, the surge was followed by a sharp correction, with Bitcoin's price dropping to around $85,000 in mid-December. Although 2025 ended with relative stability, it was a volatile period marked by record highs, steep declines, and high fluctuations.
President Trump's Support for Cryptocurrencies
Donald Trump's victory in the November 2024 U.S. presidential election was seen as a positive indicator for Bitcoin and digital currency markets. During his campaign, Trump adopted a pro-cryptocurrency stance and promised to bring about a radical change in U.S. policy towards them, contrasting with the Biden administration's strict crackdown on the sector, which included more than 100 enforcement actions by the U.S. Securities and Exchange Commission against crypto companies.
The positive development for digital currencies began with the announcement by SEC Chairman Gary Gensler on November 21, 2024, of his resignation, effective January 20, the day of President Trump's inauguration. This news had a positive impact on the crypto markets, as Gensler had previously taken a stance opposed to digital asset policies.
The chart below from CryptoQuant shows that the percentage of monthly growth in Bitcoin holdings among major investors accelerated from -0.25% on January 14 to +2% on January 17, marking the highest monthly rate since mid-December 2024. This surge in demand pushed Bitcoin's price to a new record high of $109,588 on Inauguration Day, January 20. However, the price retreated to $100,000 shortly after Trump's oath of office.
Total Bitcoin whale holdings on Inauguration Day. Source: CryptoQuant
$BTC Meanwhile, U.S. President Donald Trump announced on Truth Social that he issued an unconditional pardon for Ross Ulbricht, the founder of the Silk Road marketplace on the dark web.
U.S. federal authorities arrested Ulbricht in 2013 and sentenced him to life imprisonment for creating and operating a website (Silk Road) that allowed users to buy and sell illegal drugs, along with other illegal products and services. This news boosted confidence within the crypto community, as Trump fulfilled his promise to the sector.

- Bitcoin in 2025: Favorable Regulatory Shifts, Institutional Adoption, and Record Volatility
A turbulent journey between all-time highs and sharp corrections
Bitcoin's price reached a new all-time high of $126,199 on October 6, pushing its market cap briefly above $2.47 trillion, making it the seventh-largest asset in the world, surpassing tech giants like (AMZN) and Meta Platforms (META).
However, the surge was followed by a sharp correction, with Bitcoin's price dropping to around $85,000 in mid-December. Although 2025 ended with relative stability, it was a volatile period marked by record highs, steep declines, and high fluctuations.
President Trump's Support for Cryptocurrencies
Donald Trump's victory in the November 2024 U.S. presidential election was seen as a positive indicator for Bitcoin and digital currency markets. During his campaign, Trump adopted a pro-cryptocurrency stance and promised to bring about a radical change in U.S. policy towards them, contrasting with the Biden administration's strict crackdown on the sector, which included more than 100 enforcement actions by the U.S. Securities and Exchange Commission against crypto companies.
The positive development for digital currencies began with the announcement by SEC Chairman Gary Gensler on November 21, 2024, of his resignation, effective January 20, the day of President Trump's inauguration. This news had a positive impact on the crypto markets, as Gensler had previously taken a stance opposed to digital asset policies.
The chart below from CryptoQuant shows that the percentage of monthly growth in Bitcoin holdings among major investors accelerated from -0.25% on January 14 to +2% on January 17, marking the highest monthly rate since mid-December 2024. This surge in demand pushed Bitcoin's price to a new record high of $109,588 on Inauguration Day, January 20. However, the price retreated to $100,000 shortly after Trump's oath of office.
Total Bitcoin whale holdings on Inauguration Day. Source: CryptoQuant
$BTC Meanwhile, U.S. President Donald Trump announced on Truth Social that he issued an unconditional pardon for Ross Ulbricht, the founder of the Silk Road marketplace on the dark web.
U.S. federal authorities arrested Ulbricht in 2013 and sentenced him to life imprisonment for creating and operating a website (Silk Road) that allowed users to buy and sell illegal drugs, along with other illegal products and services. This news boosted confidence within the crypto community, as Trump fulfilled his promise to the sector.

- The XRP price remains below $2.00 amid increasing downside risks and declining retail investor demand:
The XRP price is still above the support level of $1.82 amid ongoing bearish signals and a 14% downside risk.
Demand in the retail sector is waning, as evidenced by the decrease in open interest in futures trading to $3.31 billion.
The failure of an $18 million inflow of XRP into U.S.-listed exchange-traded funds (ETFs) to spark a price rebound indicates a broader risk-avoidance trend.
Ripple (XRP) is trading between a key support level at $1.82 and a resistance level at $2.00 at the time of writing this report on Thursday, reflecting the overall stagnation in the cryptocurrency market.
Despite the cross-border token remaining above the immediate support level, which was also tested on November 21, the overall outlook remains bearish, as evidenced by declining retail investor interest.
XRP Price Declines Amid Reduced Retail Demand
XRP is experiencing a significant drop in retail investor interest, negatively impacting the derivatives market and leading to broader sell-offs. CoinGlass data shows that open interest in futures contracts reached $3.31 billion on Thursday, down from $3.52 billion the previous day and $3.71 billion on Tuesday.
Since the sudden crash on October 10, the derivatives market has been in noticeable stagnation, with open positions ranging between $3 billion and $4 billion. Before the debt reduction, open interest was at $8.36 billion, confirming decreased retail investor interest and demand.
Sustained support for rising prices requires continuous growth in open interest. Otherwise, recovery may remain an elusive dream as investors stay cautious.
Open Interest in XRP | Source: CoinGlass
On the other hand, institutional investors have shown immense interest in the token since the launch of the U.S. spot XRP ETFs, characterized by steady inflows.
XRP ETF funds recorded nearly $18 million in inflows on Wednesday, a significant increase from the $8.5 million recorded on Tuesday. The cumulative net inflows amounted to $1.03 billion, while the net asset value (NAV) stood at $1.14 billion, according to SoSoValue data.
Steady inflows into ETF funds support positive sentiment, potentially making XRP attractive not only to institutional investors but also to retail traders.
XRP ETF Trading Statistics | Source: SoSoValue