Galaxy Research Director: US ETPs are performing steadily; it's only a matter of time before Bitcoin follows gold as a hedge against currency devaluation.
PANews reported on December 27th that Alex Thorn, Head of Research at Galaxy, stated on the X platform that for Bitcoin to achieve positive returns in 2025, its price must close above $93,389 on the last trading day of the year. However, current investor sentiment towards Bitcoin is undoubtedly low. Nevertheless, some portfolio managers may reassess Bitcoin in January 2026, given the numerous positive developments it has received this year, which seem to have become the norm.
Despite a lackluster year-end performance, US Bitcoin ETPs have shown much greater stability, with cumulative inflows declining by only 9% since their all-time high of $62 billion in October, further highlighting the asset class's growing maturity. Galaxy believes it may only be a matter of time before Bitcoin follows gold as a hedge against currency devaluation, with several large asset allocators and central banks potentially igniting this trend.
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Wormhole token soars following tokenomics overhaul, W reserve launch
Wormhole’s native token has had a tough time since launch, debuting at $1.66 before dropping significantly despite the general crypto market’s bull cycle. Wormhole, an interoperability protocol facilitating asset transfers between blockchains, announced updated tokenomics to its native Wormhole (W) token, including a token reserve and more yield for stakers. The changes could affect the protocol’s governance, as staked Wormhole tokens allocate voting power to delegates.According to a Wednesday announcement, three main changes are coming to the Wormhole token: a W reserve funded with protocol fees and revenue, a 4% base yield for staking with higher rewards for active ecosystem participants, and a change from bulk unlocks to biweekly unlocks.“The goal of Wormhole Contributors is to significantly expand the asset transfer and messaging volume that Wormhole facilitates over the next 1-2 years,” the protocol said. According to Wormhole, more tokens will be locked as adoption takes place and revenue filters back to the company.Read more