On December 29, 2025, the cryptocurrency market showed a volatile pattern. Bitcoin is priced at $87,485, down slightly by -0.02% from the previous day. Ethereum is at $2,930, up by +0.08%. With BNB, Cardano, Tron, and other assets rising, major altcoins also generally demonstrated strength. The total market capitalization is $2.9638 trillion, with Bitcoin accounting for 58.94% and Ethereum for 11.94%, both slightly decreasing.
The total trading volume over the past 24 hours is $52.4 billion. The total value locked (TVL) in DeFi has decreased by -5.64% to $709.81 billion, with trading volume dropping to $9.566 billion. On the other hand, the market cap of stablecoins reached $287.098 billion, with a trading volume of $50.745 billion, representing an increase of +8.91%, reflecting a preference for safe assets. Derivatives trading volume reached $55,760 billion, up by +14.29%, indicating increased liquidity and short-term market sentiment.
In terms of leverage liquidations, a total of $17.56 million in positions were liquidated, with long positions comprising the majority. Binance ($9.17 million), Bybit ($3.93 million), and OKX ($1.73 million) are the exchanges with the largest liquidation volumes. Hyperliquid’s short liquidation ratio reached 57.37%, showing a unique trend. Ethereum led with $11.78 million in liquidations, followed by Bitcoin with $5.21 million. Liquidation volumes for major altcoins like Solana, Zcash, and Dogecoin have also increased, reflecting market instability.
Meanwhile, the fact that U.S. Senator Dave McCormick purchased $200,000 worth of Bitcoin was made public, highlighting political acceptance of digital assets. Qingting Capital mentioned the potential for growth in Ethereum and Solana parallel chains, while billionaire Tim Draper projected a future where Bitcoin enters the global payroll market. Hyperliquid plans to distribute 1.2 million HYPE tokens to team members on January 6, which is seen as a factor that could influence the circulation of project tokens.
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