Cryptocurrencies such as Bitcoin, Ethereum, Solana, Cardano, Dogecoin, XRP, stablecoins and other altcoins operate on blockchain networks, decentralized systems that use advanced cryptography to deliver secure, transparent and immutable recordkeeping. This tamper-resistant architecture continues to support growing adoption and investor confidence worldwide.
Recently, digital assets have undergone sharp corrections and extended periods of sideways trading through November and December. Bitcoin, the largest cryptocurrency, has faced bearish sentiment amid a difficult macroeconomic backdrop and tighter liquidity conditions. During the past 12 months, Bitcoin traded between a low of $76,270.13 and a high of $124,714.85. Over the last seven days, Bitcoin has slipped 0.1%, while Ethereum and Solana have declined 3.7% and 4.7%, respectively.
Nevertheless, long-term expectations remain bullish due to a favorable regulatory environment and growing institutional acceptance. The GENIUS Act, passed on July 17, establishes a legislative foundation for stablecoins, which benefits the likes of Circle Internet Group CRCL that offers USDC. On Dec. 18, SoFi Technologies SOFI launched SoFiUSD, a fully reserved U.S. dollar stablecoin that can be used by banks, fintechs and enterprise platforms. J.P. Morgan recently launched a tokenized money-market fund on Ethereum, while Italian bank UniCredit issued its first tokenized structured note on a public blockchain.
U.S. policy direction under President Donald Trump has further supported the market. Securities and Exchange Commission’s (SEC) Spring 2025 Regulatory Agenda introduces potential rules, including amendments to Exchange Act Rules to account for the trading of crypto assets on Alternative Trading Systems and national securities exchanges, as well as rules relating to the offer and sale of crypto assets. In September, the Nasdaq filed a Form 19b-4 with the SEC, proposing rule changes that would allow trading of equity securities and exchange-traded products (ETPs) in “tokenized form” (utilizing blockchain technology) on Nasdaq. These developments bode well for digital asset providers like Robinhood HOOD and Figure Technology Solutions FIGR.
