Japanese and South Korean Stock Markets See Collective Gains Today

On December 22, CoinDesk reported that JPYC—the Japanese yen stablecoin issuer—has partnered with South Korean IT giant ITCEN GLOBAL to research stablecoins and explore future development opportunities for the digital assets between Japan and South Korea. The collaboration will center on sharing policy and practical information to lay the groundwork for future cross-border stablecoin and asset tokenization innovations. ITCEN GLOBAL generates roughly 5 trillion South Korean won in annual revenue. Through its subsidiary Korda—which operates RWA (Real-World Asset) and STO (Security Token Offering)-related business in Japan—the firm is advancing the gold RWA project “K-Gold.”

December 22: CryptoQuant analyst Axel noted in a post that Bitcoin is entering the Christmas market window. Market sentiment gauges point to bullishness that’s not yet overheated, while fresh short liquidations have amplified the buyer-dominant market asymmetry. Derivatives market dynamics show Bitcoin futures are largely driven by short liquidations right now, creating mechanical buying pressure that’s pushing prices higher. The market is shifting into a state of “bullish neutrality,” with positive expected returns ahead.

On December 22, KobeissiLetter released data showing the current surge in the U.S. stock market is historic. U.S. households now hold a larger share of their net worth in stocks than in real estate—only the third time this has occurred in the past 65 years. In Q2 2025, corporate stocks and mutual funds accounted for roughly 31% of household net worth, hitting a record high. That ratio has more than doubled since 2008, compared to a peak of about 25% during the 2000 dot-com bubble. Meanwhile, the share of U.S. household real estate assets in total net worth dropped below 30% in Q2 2025—marking the first time since 2021. It also remains far below the 38% peak seen just before the 2006 U.S. housing bubble burst.

On December 22, crypto wallet Rabby Wallet announced that a user has recovered 85,740 USDC stuck in cross-chain routing protocol Multichain since 2023. The wallet noted users can trace and retrieve assets left in DeFi protocols—even if the original frontend has gone defunct. Back in 2023, Multichain collapsed after a massive abnormal outflow of assets totaling roughly $125 million to $130 million. The status of remaining funds was unclear, and most users couldn’t withdraw their assets. In May 2025, the Singapore High Court approved a liquidation petition for the Multichain Foundation. As liquidation proceeds, some previously frozen or locked funds are gradually available for withdrawal—specifically assets not transferred by hackers or released after being seized by law enforcement.

December 22nd – Justin Low, an analyst at U.S. financial site Investinglive, noted that gold and silver traders haven’t let up as Christmas nears. Precious metals kept climbing this week, with spot gold hitting a fresh record high above $4,400 an ounce. If gold clearly holds above $4,400, it will pave the way for bigger gains. Gold’s real headwinds may not emerge until the second half of 2026, but markets could price in that outlook early—something not to rule out. The biggest risk to the gold rally story? Major central banks shifting from rate cuts to signaling future hikes. That’s a point to watch out for. For now, though, gold bulls will stay bullish. Still, thin trading liquidity could exaggerate current gains, especially with Christmas and New Year’s around the corner (which will thin out market volumes). While seasonal trends show December and January have been gold’s strongest months over the past two decades, traders should factor in liquidity risks when eyeing further

On December 22, Aave founder Stani.eth tweeted that tomorrow’s “Brand Asset Ownership Transfer to Holders” ARFC proposal vote is fully legitimate. Over the past five days, all stakeholders have discussed the matter and finalized a timeline for the ARFC proposal. The snapshot also complies with the protocol’s governance framework requirements. Voting, he noted, is the best way to resolve the issue and the ultimate path to effective governance. The leading lending protocol Aave is caught in a storm of public debate, with its community recently locked in intense discussions over its revenue distribution mechanism and brand ownership. AAVE, the protocol’s native token, has dropped 8.9% in the past 24 hours, now trading at $161. Earlier reports stated the Aave community will launch the “Brand Asset Ownership Transfer to Holders” ARFC proposal vote on Snapshot tomorrow at 10:40 AM, running through December 26. The proposal aims to clearly define ownership, usage rights, and related ter