Industry Leader Shares Why Ethereum Price Will Reach $12,000

The crypto market took a sharp breather today after weeks of strong momentum. Bitcoin slipped toward $89,605 after almost touching $100,000, while Ethereum cooled to around $3,034 and XRP dipped near $2.03. The weakness rippled across major altcoins as well, with BNB sliding to $884, Solana dropping to $132, and Dogecoin easing to $0.13. 

Despite the red screens, a major move from traditional finance quietly stole the spotlight. The National Bank of Canada, one of the country’s most established financial institutions, has made a significant entry into Bitcoin exposure, but not in the way many expected.

A Major Move Through MicroStrategy

Instead of buying Bitcoin directly, the National Bank of Canada has taken a huge position in MicroStrategy, the publicly traded company famous for holding more Bitcoin than any other corporation. Fresh data from BitcoinTreasuries.NET reveals the bank now owns 1.47 million MicroStrategy shares, a stake valued at roughly $273 million.

This setup gives the bank indirect exposure to Bitcoin because MicroStrategy’s business strategy heavily revolves around acquiring and holding BTC. For a large regulated bank, this approach offers comfort. It avoids the challenges of handling digital wallets, navigating crypto-focused custody rules, or dealing with accounting complexities related to holding actual Bitcoin.

Why This Matters for Traditional Finance

What makes this move stand out is the size. A quarter-billion-dollar position is not a test run; it shows a rising level of confidence in Bitcoin from one of Canada’s biggest financial players.

This type of investment also signals something broader happening in the industry. By stepping into crypto through familiar equity channels, big banks are showing that digital assets are becoming harder to ignore. It also encourages other institutions to consider similar strategies, slowly merging traditional banking frameworks with the fast-changing digital asset economy.

Community Reaction: “MicroStrategy Is Not Bitcoin”

While the move is widely seen as bullish, not everyone is convinced. Crypto analyst Sovereign Swap cautioned that MicroStrategy stock should not be mistaken for actual Bitcoin. The idea is simple: MSTR offers exposure, but it’s still a company, not the asset itself. The comment also hinted that some investors may be choosing this route because local rules or political restrictions limit their ability to buy Bitcoin directly.

FAQs

It’s easier and safer for regulated banks. They avoid crypto custody rules, wallet risks, and complex accounting while still gaining Bitcoin upside through a familiar stock.

No. MicroStrategy is a company holding Bitcoin, so shares track stock performance, not exact Bitcoin price movements.

Large banks investing via stocks show growing institutional interest, signaling Bitcoin is increasingly accepted in mainstream finance.

Yes. Stock price can be affected by company performance or market trends, not just Bitcoin value, adding an extra layer of risk.

OSL, a publicly-listed digital asset platform and exchange in Hong Kong, has announced the listing of XRP, the fourth largest cryptocurrency by market capitalization.

In an official blog post, OSL Hong Kong announced that XRP is now available on the platform, with its deposits and withdrawals now open.

The recent XRP listing expands OSL HK’s token lineup, with the token available to professional investors via Flash Trade and OTC. Three XRP pairs are available for trading on the platform's Flash Trade, including XRP/HKD, and .

OSL transformed last year into a company fully dedicated to digital assets and completed $300 million of equity financing in July this year.

XRP long-term interest sustains

Despite XRP's recent slide, Santiment noted in a recent analysis that its large holders are still holding up in conviction.

According to Santiment, while XRP has erased about 32% of its market cap in the last two months alone, large investors and funds have continued adding XRP, which suggests that long-term interest has not disappeared.

XRP ETFs continue to attract inflows, sustaining their strong post-launch run. XRP funds, including those from Canary Capital, Grayscale, Bitwise and Franklin Templeton, accounted for a total net inflow of $897.35 million, according to SoSo data.

Santiment highlighted this development as bullish for XRP, noting that even with slower price action, this type of support can help keep XRP from dropping too sharply.

XRP sentiment flips from bearish

At the time of writing, XRP was down 1.83% in the last 24 hours to $2.03 and down 8.31% weekly.

Santiment added that if XRP sees more clarity in regulation and market conditions, it could find a stronger footing again. For now, the community seems patient, watching for signs of bullish momentum and wider financial use.

Analysts at Santiment noted a reversal in sentiment for XRP: while the crowd was extremely bearish on XRP before, this has now reversed to neutral, with Santiment stating it has returned to the middle ground for now.

BitMine expanded its Ethereum holdings this week with nearly $200 million in fresh purchases, deepening its lead as the largest single holder of the asset.

The move comes as ETH trades near a one-month low and follows a period of steady distribution by medium-sized wallets, according to on-chain data.

BitMine’s Acquisition Comes Amid Smaller ETH Holders Offload

Lookonchain, citing Arkham Intelligence, reported that BitMine bought 22,676 ETH from BitGo on December 6 for about $68.7 million. The transaction suggests an average purchase price of roughly $3,028 per token.

Notably, the firm had already acquired 41,946 ETH a day earlier from FalconX and BitGo for about $130.8 million.

These deals build on BitMine’s disclosure last week that it held 3.73 million ETH as of November 30. At current prices, the stash is worth more than $11 billion.

BitMine also reported holdings of 192 BTC, a $36 million position in Eightco Holdings, and $882 million in cash.

Strategy ETH Reserve data shows the company now holds more ETH than its next five peers combined, including SharpLink and the Ethereum Foundation.

The scale of its treasury places BitMine as the second-largest corporate crypto holder by value, behind only Michael Saylor-led Strategy, the largest corporate holder of Bitcoin.

The latest purchases come during a soft stretch for ETH. BeInCrypto data shows the token has fallen more than 10% over the past month to about $3,027.

Alphractal’s Ethereum Accumulation Heatmap indicates that wallets holding 1 to 10,000 ETH sold heavily near this cycle’s recent peak. Those addresses continue to offload tokens, adding pressure to the market.

However, larger whales with more than 10,000 ETH have shown limited activity, with light distribution but no strong accumulation.

Despite the weakness, several analysts maintain a bullish long-term view.

Fundstrat CEO and BitMine Chair Tom Lee said Ethereum could reach $12,000 if Bitcoin climbs to $250,000, citing the historical relationship between both assets and growing demand for tokenized real-world assets.

He added that ETH could rise as high as $62,000 if its valuation ratio to Bitcoin expands over time.

This week’s HYPE price update highlights a sharp shift in sentiment as the broader crypto market downturn pressures Hyperliquid’s native token. Despite strong revenue fundamentals and bold long-term projections, short-term weakness and declining open interest raise important questions for the HYPE price prediction outlook.

Revenue Strength Fuels Long-Term Interest in HYPE

One of the biggest drivers of attention around HYPE crypto comes from the company’s extraordinary financial profile. Hyperliquid is generating an estimated $1.15 billion in annual recurring revenue with a team of only 11 employees, making it one of the most profitable and lean operations in the sector, per David Schamis, CEO of Hyperliquid Strategies.

This level of efficiency and scale has prompted David to ambitiously project HYPE’s valuation growth trajectory significantly higher than today’s. He said in a video clip that he expects the token could achieve a 20× expansion from current market cap levels, provided the ecosystem continues compounding revenue without reliance on outside capital.

Although this narrative supports a strong long-term HYPE price forecast, the immediate challenge lies in the market environment, where macro weakness is overpowering fundamentals.

Short-Term Outlook Hinges on Key Support Levels

While long-term optimism persists, the near-term structure of the HYPE price chart is displaying decisive pressure. Technical discussions across the community highlight that the $30–$31 range is a critical support zone. If this level fails, the HYPE price USD could slide sharply toward the $20 region, reflecting broader capitulation across high-beta altcoins.

Shiba Inu lead ambassador Shytoshi Kusama remains silent on X, with his last post made Sept. 15.

The silence calls for attention, particularly in light of recent developments in the Shiba Inu ecosystem that tested its strength, including a rebase issue with the LEASH token and a brief exploit of the Shibarium bridge. In the most recent update, which was reported by U.Today, the Shibarium bridge hacker refused the bounty offer, with K9 Finance contributor Shima afterward revealing the hacker's trail to the public for necessary action to be taken by enforcement agents.

While Kusama remains silent, in his last post on X, he made it known that this should not be taken as absence, adding that he remains beside the Shiba Inu team. Kusama disclosed what he had been up to, saying he has continued in his push for AI initiatives to better Shiba Inu ecosystem tokens.

Kusama started stepping back from X activity in late July after the release of the AI-focused paper. While the Shiba Inu lead ambassador hinted at signals as to what he was up to with his public location and bio changing, however this still remains without comment.

Will Shytoshi Kusama break his silence in December?

In previous Decembers, a trend was noticed with Kusama's activity on X seemingly increasing. This is as he caps off the developments in the year while revealing expectations for the incoming year.

At the end of December 2024, Kusama launched a 44-episode podcast series titled "Shy Speaks," which provided in-depth, personal insights into the Shiba Inu project, its technology, philosophy and community.

In December 2023, Kusama ignited buzz on X as he highlighted developments for Shibarium, which launched in the same year, while revealing expectations ahead.

Six days into December 2025, Kusama extends his silence, citing an intense focus on a personal, AI-driven mission he was working on.

What the SHIB lead ambassador has planned for December remains unknown, or maybe he will continue with his silence until 2026.

After a turbulent few weeks in the crypto market, Digital Asset Treasury (DAT) companies have been thrust back into the spotlight, and not for the reasons they’d hoped.

Bitcoin, Ethereum, and the broader market have suffered sharp declines amid macro fears, including a potential unwind of the yen carry trade if the Bank of Japan lifts rates. Add rising volatility, cascading liquidations, and aggressive short positioning from major institutions, and you get the perfect recipe for investor panic.

DAT stocks have been hit especially hard. Companies that once traded at multiples of their modified net asset value (mNAV) — 3x, 5x, even 10x over the summer, are now languishing at or below parity. The fear is simple: as prices fall, will treasuries be forced to dump their crypto to service loans, defend equity valuations, or simply stay solvent?

According to James Butterfill, Head of Research at CoinShares, the situation is fragile, but not doomed.

If prices continue to slide, shorts could deepen their attack, especially on companies whose treasuries hold large, illiquid, or highly correlated digital asset reserves.

A December Turnaround?

The question now is whether DAT firms face a forced-selling doom loop… or the setup for an explosive short squeeze. Butterfill believes the latter remains a strong possibility.

Markets may be approaching a pivotal moment. Inflation is cooling, bond markets have stabilised, and speculation is growing that central banks, including the Fed, could deliver a rate cut in December.

A cut would weaken the dollar, ease liquidity stress, and potentially trigger a strong rebound across digital assets.

That may be all DAT companies need to survive the current storm.

DATs Must Now Evolve — or Die

Even if a recovery arrives, Butterfill argues the industry must confront uncomfortable structural flaws.

Investors have grown far less tolerant of:

• shareholder dilution
• ultra-high asset concentration
• firms with large crypto treasuries but no real revenue
• Companies using public markets to accumulate tokens rather than build products

This behaviour, he says, has damaged the entire sector’s credibility.

The DAT Model of the Future

Butterfill predicts a cleansing cycle, one that filters out momentum-driven firms and rewards those building real economic value.

The winners of the next cycle, he says, will look far more like the DATs originally envisioned:

• global companies
• diversified revenue streams
• digital assets used strategically, not opportunistically
• long-term balance sheet management, not speculative treasury expansion

If markets stabilise, or even turn upward, companies that held the line instead of liquidating may find themselves positioned for strong recovery. In that environment, any asset managers that have a broad short strategy targeting DAT stocks could rapidly unwind, amplifying upside volatility.

A December rate cut could be the catalyst.