Daily Market Wrap | Dec. 16

Hot Topics

• Bitcoin's active addresses hit a one-year low at 660K (7-day MA).
• 75 out of top 100 cryptocurrencies trade below 50- and 200-day SMAs, signaling bearish breadth vs. only 29 in Nasdaq 100 stocks.
• Japan's SBI Holdings partners with Startale Group to launch regulated yen-denominated stablecoin in Q2 2026.

Market Updates

• ARK Invest buys ~$59M in crypto stocks like Coinbase, Bullish, Circle, and crypto miners amid multi-day selloff with double-digit drops.
• PayPal, PYUSD issuer, applies for Utah industrial bank license to establish PayPal Bank for lending and savings.
• StraitsX plans early 2026 launch of XSGD and XUSD stablecoins on Solana for instant SGD-USD swaps.