OKX Launches Ethereum Layer 2 Network, X Layer

In India, the Madras High Court ruled that cryptocurrencies are considered property under law, protecting a user's 3,532 XRP holdings from being used to offset losses from a hack. This decision establishes legal standing for crypto assets and client property protection under Indian law.

Bitcoin surged over the weekend due to potential easing of U.S.-China trade tensions, reaching $115,400 before a slight pullback. The rally reflects macro sentiment influencing digital assets, not direct trade fundamentals.

Bitplanet, a publicly listed company in South Korea, has begun its daily Bitcoin accumulation plan, purchasing 93 BTC as part of a larger effort to reach a 10,000 BTC target. The company, backed by Metaplanet CEO Simon Gerovich, aims to build a substantial Bitcoin treasury through regulated means.

SpaceX recently transferred over $133 million in Bitcoin to new wallets, totaling 1,215 Bitcoin, following a similar move just days prior. The company previously held 8,285 BTC, making it the fourth-largest private company with Bitcoin treasuries.

Michael Selig, current SEC chief counsel for the crypto task force, has been nominated by President Trump to lead the CFTC. This move signals a close collaboration between the CFTC and SEC in developing a pro-crypto regulatory framework. The Winklevoss twins played a significant role in influencing Trump's decision by lobbying against the previous nominee.

Custodia Bank and Vantage Bank Texas have introduced a platform for tokenized deposits, allowing banks to issue tokens representing insured deposits while complying with U.S. banking laws. The tokens can function as stablecoins when moved to other institutions or wallets, managed through a patent-pending protocol.

Analysts emphasize the importance of monitoring Ethereum's institutional integration, tokenization, stablecoin growth, and Layer 2 expansion for potential price movements. The market has been trading sideways recently, with minimal price action across major cryptocurrencies like Bitcoin and Ethereum.

Rumble, a video sharing platform, is collaborating with Tether to introduce Bitcoin tipping, aiming to reach its 51 million active users. The company plans to launch this feature by early to mid-December, following a $775 million investment from Tether last year.

Traders on Myriad predict Ethereum will hit $5,000 before gold, despite gold being closer to the target. Technical analysis suggests Ethereum may reach the milestone due to market dynamics and historical patterns.

Bitcoin options worth $31 billion are set to expire next week, following a record liquidation event that wiped out $19 billion in leveraged positions. Deribit and CME have $14 billion and $13.5 billion in options expiring, respectively, with a concentration of put contracts at $100,000.