Today in crypto: Strategy’s CEO says Bitcoin’s fundamentals are solid, the Canton Network’s native token has outperformed the broader market amid signs of institutional adoption and crypto derivatives trading volume surged to $85.7 trillion in 2025.
Bitcoin fundamentals ‘couldn't be better’: Strategy CEO
Bitcoin’s market fundamentals have stayed strong in 2025, despite the asset’s price and sentiment declining toward the end of the year, Strategy CEO Phong Le said on Tuesday.
“The fundamentals of the market this year for Bitcoin couldn’t be better,” Le told the “Coin Stories” podcast, despite Bitcoin (BTC) having fallen nearly 30% from its over $125,000 peak in October.
Le said that Bitcoin’s price “does what it does” and isn’t always easy to explain and investors should “think about the long term of the asset class.”
He added that short-term price action is often unpredictable and Bitcoiners should be “fairly methodical and mathematical about it.”
Canton Coin surges on DTCC tokenization plans
Canton Coin, the native cryptocurrency of the Canton blockchain, has rallied about 27% over the past week after the Depository Trust & Clearing Corporation (DTCC) unveiled plans to tokenize a portion of its US Treasurys on the Canton Network.
The initiative was announced on Dec. 17, with DTCC CEO Frank La Salla saying the collaboration with Canton “creates a roadmap to bring real-world, high-value tokenization use cases to market, starting with US Treasury securities and eventually expanding to a broad spectrum of DTC-eligible assets.”
Following the announcement, Canton Coin jumped more than 27% in seven days, significantly outperforming Bitcoin (BTC) and Ether (ETH), which have largely traded sideways over the same period.
The rally comes as tokenized real-world assets (RWAs) have emerged as one of blockchain’s most prominent use cases this year. Roughly $19 billion in RWAs are now held onchain, according to industry data, with tokenized US Treasury products accounting for about half of that total.
Crypto derivatives volume explode to $86T in 2025, averaging $265B per day
Cryptocurrency derivatives trading volume surged to almost $85.7 trillion in 2025, averaging about $264.5 billion a day, according to a report by liquidation data tracker CoinGlass.
Binance led the market with roughly $25.09 trillion in cumulative derivatives volume, or about 29.3% of global trading, meaning nearly $30 of every $100 traded ran through the exchange, CoinGlass said.
OKX, Bybit and Bitget followed, each posting $8.2 trillion to $10.8 trillion in yearly volume. These four exchanges accounted for about 62.3% of total market share.
CoinGlass said institutional pathways expanded through spot exchange-traded funds (ETFs), options and compliant futures, helping drive a structural rise for Chicago Mercantile Exchange (CME), which had already overtaken Binance in Bitcoin (BTC) futures open interest in 2024 and consolidated its footing in 2025.
