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### Crypto Market Overview (December 23, 2025) The cryptocurrency market traded sideways today, with total capitalization slipping 0.8% to $3.07 trillion amid low holiday volume and anticipation of U.S. GDP data and Fed signals. Bitcoin hovered around $88,088, down 0.7% over 24 hours and ranging from $86,997 to $90,541 with $25.8 billion in volume, while Ethereum eased 1% to $2,993, just below $3,000. Altcoins like Chainlink (LINK) dipped 0.6% to $12.49 and Sui (SUI) 0.4% to $1.45, though some like Polymesh (POLYX) gained on project updates. ### Technical Analysis Bitcoin's "Asia up, U.S. down" pattern persisted, briefly hitting $90,000 before retracing to $88,000 support; RSI at 47 shows neutral momentum, with resistance at $90,000 and potential drop to $86,000 if breached. Ethereum consolidated near $2,900–$3,000, facing EMA pressure amid $555 million yearly outflows, but network growth with 195,000 new wallets suggests underlying strength. Liquidations rose 11% to $222 million, with open interest at $129 billion indicating rebuilding leverage despite extreme fear (Fear & Greed Index at 24). ### Key Drivers and News Institutional outflows hit $952 million weekly, led by$BTC Bitcoin and$ETH Ethereum ETFs, as investors rotated to Solana and $XRP XRP amid maturing market dynamics. Gold and silver's record highs drew safe-haven flows, pressuring crypto, while U.S. equities' Santa rally (S&P 500 monthly gains streak) offered indirect support. A massive $27-28.5 billion Bitcoin and Ethereum options expiry on December 26 looms, likely pinning prices in range until then. Ethereum's stablecoin surge (65% in Q3) and Polymesh's Confidential Assets launch boosted select altcoins. ### Outlook Short-term volatility expected ahead of GDP report and options expiry, with Bitcoin potentially reclaiming $90,000 on positive data or testing $86,000 downside. Ethereum could stabilize above $3,000 if outflows ease, benefiting from regulatory tailwinds like the GENIUS Act. Sentiment remains in extreme fear, but year-end liquidity may spark a rebound; monitor economic releases closely and research before investing.

Chainlink $12.28 (LINK) continues to be heavily impacted by the prevailing uncertainties in the cryptocurrency markets. As of December 23, the price of LINK was recorded at $12.49, with a market capitalization of approximately $8.84 billion. However, this current price is about 16% lower compared to its monthly peak and around 55% down from its level at the beginning of the year. This sharp pullback reflects investors’ increased caution towards both macroeconomic developments and weakening on-chain data. Contents DeFi Data and Whale Movements: Insights Technical Outlook and Potential Scenarios DeFi Data and Whale Movements: Insights According to DefiLlama, the total value locked (TVL) in Chainlink-based DeFi applications has dropped remarkably, from $1.13 billion at the end of August to about $545 million. During the same period, there has also been a consistent decline in weekly transaction fees. These declines in TVL and fees suggest a waning demand for Chainlink services and a slowdown in ecosystem usage. The on-chain stagnation appears to have led to a decline in interest from major investors, known as whales. Nansen data reveals that the amount of LINK held by whales decreased by 2% in the last seven days, falling to 1.84 million units. Meanwhile, the total LINK balance on exchanges has increased by 2.7% to 226.73 million units, indicating a potential strengthening of selling pressure. This scenario escalates the downward risks on the price in the short term. Technical Outlook and Potential Scenarios The weekly chart for Chainlink calls for investor caution. It highlights a multi-year “double top” formation, with the peaks forming around $28.06 and the neckline situated at $11.08. In technical analysis, such formations are often precursors to significant downturns. Momentum indicators also emit negative signals. The MACD indicator has moved below the signal line, with both lines trending downward, suggesting that sellers maintain their dominance in the market. The RSI stands at approximately 37.7, indicating that it has not yet entered the oversold territory. This suggests that there is still room for downward movement before a potential recovery. A critical level to watch is $11.08. A potential break below this level could result in the price falling to $8 or even the robust support level of $5 that was established during the 2022-2023 period. While Chainlink’s weakness continues, competition in the oracle space is intensifying. Recently, projects like Pyth Network and Band Protocol have increased their integrations with different blockchains, intensifying competition in the data oracle market. Collaborations with Solana and new generation Layer-2 solutions provide developers with alternative oracle options, making it increasingly important for Chainlink to offer new use cases and updates to maintain its market share.

Key Points UBS has completed the world’s first live, in-production tokenized fund transaction. The transaction involved uMINT, a tokenized money market fund operating on the Ethereum blockchain. UBS, the Swiss banking giant, has made history by successfully executing the world’s first live, in-production tokenized fund transaction. This transaction was carried out end-to-end, involving subscription and redemption requests for a tokenized money market fund, marking a significant step in the institutional adoption of blockchain-based financial products. Details of the Transaction The transaction involved the UBS USD Money Market Investment Fund Token, also known as uMINT, which operates on the Ethereum blockchain. DigiFT, an on-chain fund distributor, played a crucial role in the transaction, utilizing the Chainlink Digital Transfer Agent technical standard to handle the fund operations. Both subscription and redemption requests were processed through this automated system. The Chainlink DTA standard integrates several technologies, including Chainlink Runtime Environment, Cross-Chain Interoperability Protocol, Automated Compliance Engine, and NAVLink. These components allow Chainlink’s oracle network to automate fund lifecycle operations such as order processing, execution, settlement, and data synchronization between on-chain and off-chain systems. The standard supports three settlement models: Offchain, Local Onchain, and Cross-chain Onchain. The Chainlink CCIP integration has been deployed across multiple blockchain applications in 2025. UBS and Tokenization UBS developed this capability through its UBS Tokenize service, which also focuses on tokenizing bonds and structured products. The bank currently manages $6.9 trillion in invested assets as of the third quarter of 2025 and operates as the leading universal bank in Switzerland and a principal global wealth manager. This transaction is a continuation of UBS’s work with Chainlink under the Monetary Authority of Singapore’s Project Guardian initiative. Earlier in 2025, UBS tested on zkSync for its Key4 Gold service proof-of-concept. This transaction represents UBS’s first live deployment of tokenized fund operations on a public blockchain. DigiFT processed the subscription and redemption orders using the DTA standard’s automated compliance and settlement features. The system handled order taking, execution, and final settlement without manual intervention. Despite the recent volatility in Chainlink (LINK) price, the growing institutional adoption of its infrastructure is evident.

Key Points Chainlink (LINK) token attracts significant on-chain accumulation despite a 6% crash and a 32% drop over the last month. The $14-$15 range is a critical test for LINK’s long-term structure, potentially leading to a rebound towards $20 and possibly $27-$46. Despite experiencing a 6% drop in the past 24 hours, the Chainlink (LINK) token continues to see substantial on-chain accumulation, testing a significant support level. The token is currently trading around $15.14, marking a significant 32% drop over the last month. Two new wallets have been accumulating tokens at an average entry of about $16.45. One of these wallets withdrew 98,000 LINK, worth approximately $1.57 million. Another wallet added nearly 50,000 LINK, valued at $736,000. Crucial Test for LINK Bulls Analyst Ali Martinez pointed out the $14-$15 range as a critical area for LINK’s long-term structure. The price is currently hovering around $15.14, just above the 0.618 Fibonacci retracement at $15.07, a level that has historically served as a strong demand zone. If the $14-$15 area is maintained, it could confirm a rebound towards $20 and possibly extend to $27-$46, potentially making LINK the next crypto to explode. However, a failure to hold above $15 would invalidate the bullish setup and pave the way for deeper corrections towards $12 or even $10. The daily chart shows a prolonged downtrend channel, with LINK repeatedly rejected at its upper boundary. The RSI is near 34, while the MACD suggests the selling pressure could be close to exhaustion. The Bollinger Bands are also tightening, suggesting a breakout could be imminent. Martinez has added that any dip below $15 would be a “golden buy zone” for the LINK token. Chainlink ACE Launch: Strengthening Fundamentals The price drop follows the launch of the Chainlink Automated Compliance Engine (ACE) partner ecosystem, a consortium of over 20 compliance providers, frameworks, and blockchain networks. This initiative integrates identity verification, risk management, and regulatory reporting directly into on-chain systems, positioning ACE as an industry standard for institutional-grade compliance. The Chainlink ACE partner ecosystem establishes ACE as the industry standard for on-chain compliance, uniting identity, risk, and regulatory infrastructure into the most complete, modular, and enterprise-grade compliance network for digital assets. It also includes partners such as Chainalysis, TRM Labs, Hypernative, and Kaiko, as well as blockchain networks such as Ethereum for Institutions, Linea, and Taiko.