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Ethereum Hits All-Time High in Contract Transaction Volume This Year, Overleveraged Speculation Causes Price to Underperform

2 hours ago

On December 27, CryptoQuant analyst Darkfost noted that Ethereum’s contract trading volume this year has far outpaced previous years. For example, Binance’s Ethereum futures trading volume hit over $6.74 trillion in the past year—nearly double 2024’s figure, which already set a record. This makes Ethereum one of the largest assets in the 2025 global derivatives market by trading volume, underscoring strong speculative demand. Over the past year, Binance’s spot-to-futures ratio for ETH has hovered around 0.2: for every $1 invested in ETH spot, nearly $5 went into futures contracts. This ratio signals a market heavily reliant on leverage, reflecting extreme speculation around Ethereum in 2025. The record trading volume paired with this unbalanced ratio means futures largely drive ETH’s price trends. As a result, Ethereum’s price fluctuations this year have often been amplified, volatile, and closely tied to liquidations—ultimately pushing it to a new all-time high by just a few dollars.
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Russian Former Traffic Police Officer Sentenced to 7 Years for Using Violence to Obtain Evidence and Steal Hundreds of Thousands of Dollars Worth of Bitcoin

On December 27, a former traffic police officer in Ufa, Russia, was sentenced to seven years in prison for stealing approximately 20 million rubles (hundreds of thousands of dollars) worth of Bitcoin. The case stems from 2022, when the officer illegally accessed the mobile phones of two detainees while processing a case, used a messaging app to transfer BTC from their encrypted wallets, and engaged in violent evidence-gathering. The court ordered him to compensate the victims roughly 20 million rubles, strip him of his police rank, and sentence him to seven years in a standard-regime correctional facility. (Bits.media)

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Yuga Labs announces acquisition of Improbable's Unreal Engine creation platform, will onboard the latter's development team

December 27, Garga.eth—co-founder of Bored Ape Yacht Club (BAYC)—announced on X that Yuga Labs has acquired Improbable’s Unreal Engine creation platform and inked a permanent licensing deal with Improbable for Otherside’s high-concurrency technology. Additionally, Improbable’s associated engineers and developers will join Yuga Labs; the exact acquisition sum remains undisclosed. Yuga Labs reportedly plans to further expand Improbable’s software and tools in 2026 and accelerate delivery of new gaming experiences for Otherside.

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Suspected YGG Treasury Associated Address Deposits 40 Million YGG into Binance

On December 27, per Arkham monitoring, an address starting with "0xE040" deposited 40 million YGG tokens into Binance seven hours earlier—valued at roughly $2.65 million. Over the past five months, this address has periodically transferred YGG tokens to Binance’s deposit address. The tokens originally originated from the treasury and multisig addresses of Yield Guild Games (YGG), a play-to-earn guild.

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The Crypto Fear and Greed Index has remained below 30 since November 3, with market "fear" sentiment unabated

On December 27, per Alternative data, today’s Crypto Fear & Greed Index stands at 23 (up from 20 the prior day), signaling persistent market fear sentiment. Since November 3, the index has stayed below 30 — a trend also observed in Q4 2022. Note: The index ranges from 0 to 100, with weights assigned to these metrics: Volatility (25%), Market Trading Volume (25%), Social Media Hype (15%), Market Surveys (15%), Bitcoin Market Dominance (10%), and Google Trends Analysis (10%).

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Binance: Arbitrum Network Alpha Transaction Contest Rewards Have Been Distributed Starting Today at 11:00

On December 27, official sources confirmed that rewards for the Arbitrum Network Alpha Transaction Race (covering VSN and LAVA) began distribution at 11:00 AM UTC+8 that day. Users who claim their rewards after the first 48 hours will receive an additional 5 Alpha points—either VSN or LAVA, based on which meets the eligibility criteria.

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The Bank of China Completes Two-Country First Cross-Border CBDC QR Code Retail Payment Transaction in Laos

**Bank of China Completes First Cross-Border Digital RMB QR Code Payment with Laos** December 27: Under joint guidance from the People’s Bank of China (PBOC) and the Bank of the Lao PDR, Bank of China (BOC) wrapped up the first cross-border digital RMB QR code payment transaction between the two nations. BOC’s Vientiane Branch also became one of the first institutions to connect to PBOC’s cross-border digital RMB payment platform. By providing real-time exchange rate quotes and efficient clearing services, BOC verified on-site QR code payments for Lao merchants. The service lowers cross-border settlement barriers: Chinese tourists can scan merchants’ QR codes via the digital RMB app to pay directly in yuan at the real-time rate (no foreign currency exchange needed). Local Lao merchants don’t need to update their payment devices—they can automatically receive funds in compliance using existing processes.

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