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Bitmine’s aggressive Ethereum buying underscores long-term institutional confidence, even as broader crypto prices remain range-bound and volatile.
Bybit’s planned exit from Japan highlights ongoing regulatory pressures reshaping global exchange operations and market access.
Governance disputes, weak ETF demand, and technical breakdowns are driving underperformance in tokens like AAVE, HBAR, and Monero despite relative stability in major assets.
The cryptocurrency market saw major developments on December 23. From institutional accumulation, regulatory realignment, to token-specific stress, it was an eventful day for the crypto enthusiasts, even as broader price action remains relatively stable. Be it aggressive Ethereum buying by Bitmine to governance-driven selloffs in DeFi and renewed weakness across select altcoins, let’s take a look at the latest crypto news today update.
Bitmine Immersion Technologies has added 98,852 ETH in just a week, and it increased the total holdings to around 4.07 million ETH.
Apart from Ethereum, it also owns 193 BTC, $1 billion cash, and a $32 million investment in Eightco Holdings.
The company disclosed that its combined crypto assets, cash reserves, and high-risk “moonshot” investments are now valued at roughly $13.2 billion, achieved in just 5.5 months of aggressive accumulation.
Alongside Ethereum, Bitmine holds 193 BTC, $1 billion in cash, and a $32 million stake in Eightco Holdings.
Tom Lee, the chairman of Fundstrat, referred to the accumulation as a tactical link between conventional finance and on-chain infrastructure, highlighting Ethereum's importance in tokenization and decentralized finance.
Also Read: Ethereum News: ETH Holds Key Support as Traders Watch a Move Toward $4,000
Crypto exchange Bybit announced plans to phase out services for Japanese residents starting in 2026, citing the country’s strict regulatory framework.
Japanese users will face gradual account restrictions, while those incorrectly flagged are being asked to complete additional identity verification.
Bybit is not registered with Japan’s Financial Services Agency (FSA), which requires local approval for crypto exchanges.
The decision follows earlier steps, including halting new registrations in Japan and pressuring app stores to remove unregistered exchanges.
The HBAR token of Hedera remains under pressure after fading ETF optimism. The Canary HBAR ETF had zero inflows on December 22, thereby undermining expectations that institutional demand would support the price.
The HBAR is trading around $0.111, and technical indicators are weakening. On-balance volume has decreased to a nine-month low, indicating ongoing selling.
If the price breaks below the $0.110 support, analysts predict it may drag the price toward $0.10, while stabilization above current levels could lead to sideways consolidation.
After a sudden intraday sell-off erased the recent gains and eroded its short-term structure, Monero (XMR) slipped below $440.
The price dropped from the $455-$460 resistance area to about $438, confirming that the higher levels have been rejected.
Volatility increased to around 5.6%, indicating that sellers have regained control and that aggressive positioning is being reflected. Although the RSI is still at 64, a sign that momentum has not reached oversold levels, leaving room for further downside.
Support is seen at the $435-$440 level, where the price has shown a weak response. If this level is not supported, XMR could fall to the low $ 420s.
Bitcoin spot ETFs posted a $142.19 million net outflow on December 22, marking three consecutive days of withdrawals.
The IBIT ETF from BlackRock saw a daily net inflow of $6 million, and the total net historical inflow of reached $62.50 billion.
Despite the short-term trend, the net inflows remain strong at $57.26 billion, and the value of total ETF assets is close to $115 billion, equivalent to 6.52% of Bitcoin’s total market capitalization.
The past week saw AAVE losing 18%, making it the worst-performing asset in the top 100 cryptocurrencies.
The fall can be attributed to an internal governance conflict concerning the ownership of the protocol’s image and public channels, leading to doubt about coordination and decision-making.
Large holders have been cutting their positions, including a whale sale of about 230,000 AAVE, while the founder, Stani Kulechov, has acquired $12.6 million worth of tokens during the price drop.
Governance risk has been continuously reflected in the selling pressure, though insider buying is persistent, highlighting that governance risk can weigh on token valuations.
1. Why is Bitmine’s Ethereum accumulation significant?
Bitmine now controls about 3.37% of Ethereum’s circulating supply, signaling strong institutional conviction in ETH’s long-term role in tokenization and decentralized finance.
2. What does Bybit’s exit from Japan indicate?
It reflects Japan’s strict regulatory environment and shows how exchanges are prioritizing compliance by withdrawing from markets without clear licensing pathways.
3. Why is HBAR under pressure despite ETF expectations?
The Canary HBAR ETF recorded zero inflows, weakening the institutional demand narrative and leaving HBAR exposed to continued selling pressure.
4. What caused Monero’s recent price drop?
XMR broke below key short-term support after repeated rejections at higher levels, with rising volatility and weak buying response indicating short-term bearish momentum.
5. Why is AAVE underperforming the broader market?
An internal governance dispute has created uncertainty around control and decision-making, prompting large holders to reduce exposure despite founder-led buying during the decline.
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