Dragonfly Partner: Solana and Ethereum Will Both Benefit from Asset Tokenization Wave

On December 25, Pantera Capital Managing Partner Jay Yu shared 12 predictions for 2026 crypto trends, covering key areas: - **Capital-Efficient Consumer Credit**: Simple lending apps launching via on-chain/off-chain credit modeling, modular design, and AI behavior learning. - **Polarization of Prediction Markets**: Markets splitting into two tracks—financial (integrated with DeFi, leveraged) and cultural (community-led, long-tail enthusiast-focused). - **Agent Business with x402 Extension**: Agent services expanding to micropayments and recurring payments via x402 endpoints; Solana set to outperform Base in low-value transactions. - **AI as a Crypto Interface Layer**: AI-assisted trading (e.g., trend analysis) going mainstream, with gradual integration into consumer apps. - **Rise of Tokenized Gold**: Tokenized gold emerging as a key Real World Asset (RWA), selected as a store of value amid USD-related concerns. - **Bitcoin Quantum Panic**: Quantum breakthroughs spark inst

On December 25th, Evernorth Holdings—an XRP-focused treasury entity backed by Ripple executives—was facing an unrealized (paper) loss of over $220 million. Data from CryptoQuant shows the firm holds approximately 389 million XRP with an acquisition cost of roughly $947 million. Based on XRP’s current price of $1.86, the value of its holdings totals around $724 million, translating to a substantial unrealized loss for the company.

December 25th: Bank of Japan Governor Haruhiko Kuroda said the BOJ will likely keep raising interest rates if Japan meets its baseline forecast amid improving economic and price conditions, per Reuters.

Per Farside Investors’ monitoring as of December 25th, U.S. Bitcoin spot ETFs posted a net outflow of $175.3 million yesterday. Breakdowns include $91.4 million in net outflows for IBIT and $24.6 million for GBTC. Ethereum ETFs, meanwhile, recorded a net outflow of $52.8 million, with ETHA seeing $22.3 million in net outflows and ETHE reporting $33.8 million.

December 25th — Garrett Jin, the "BTC OG Insider Whale," posted that as platinum, palladium and silver saw sharp pullbacks, Bitcoin and Ethereum have begun rebounding. He noted precious metals positions were excessively crowded and short-term extremely overbought, raising risk exposure. This triggered profit-taking, with funds shifting from overheated trades to relatively undervalued assets.