Daily Report on Cryptocurrency (December 20, 2025)

1. Core Market: Bitcoin (BTC) current price is $88601.07, down 1.69% in 24H, with a circulating market value of $1.77 trillion; Ethereum (ETH) is priced at $2958.13, down 1.77% in 24H, with a market value of $3570.32 billion.

2. Institutional Forecast: Citigroup has set a 12-month target price for Bitcoin at $143000 (potential increase of 62%), and for Ethereum at $4304 (potential increase of 46%), with an optimistic scenario suggesting BTC could reach $189000.

3. Regulatory Developments: Three U.S. cryptocurrency bills have been in effect for six months, with the “Clarity Act” defining BTC, ETH, and others as “digital commodities,” transferring regulatory authority to the Commodity Futures Trading Commission.

4. Exchange Developments: Hong Kong licensed exchange HashKey raised $206 million in its IPO, with pricing close to the upper limit; the Chicago Mercantile Exchange launched XRP and SOL futures contracts based on spot quotes.

5. Stablecoin Trends: The global stablecoin market value has surpassed $300 billion, with trading volume expected to reach $46 trillion by 2025, and the innovation of deposit and withdrawal channels becoming a focal point in the industry.

6. Project Mergers and Acquisitions: Stablecoin issuer Circle acquired Interop Labs, aiming to integrate the Axelar development team to accelerate multi-chain infrastructure development, while the AXL token remains independently operated.

7. Asset Tokenization: The total value of on-chain real-world assets (RWA) has surpassed $30 billion, with U.S. Treasury tokenization becoming the fastest-growing category.

8. Financing Developments: The Web3 project MetYa completed $50000000 in financing, which will be used for the development of a global asset service platform and ecological construction.

9. International Cooperation: Bhutan signed a strategic cooperation agreement with Cumberland DRW, planning to jointly build national-level digital asset infrastructure in Grelop Mindfulness City.

10. Technological Evolution: DeFi decentralized perpetual contracts monthly trading volume has exceeded $1 trillion, Ethereum's “Pectra” upgrade solidifies ecological advantages, and Solana’s performance improvements have gained institutional recognition.