By Tuesday, digital gold clawed back losses<\/a>, rebounding to $94,000.\u00a0<\/p>\n Bitcoin traded in a $91,000\u201394,000 range until Friday, when it broke support near the lower bound and slid to $88,000.<\/p>\n Into the weekend the asset moved sideways and, at the time of writing, was trading around $89,500. It fell roughly 2% over seven days.\u00a0<\/p>\n Despite strong on-chain metrics<\/a> and a recovery in ETF<\/a> inflows, bitcoin remains under heavy selling pressure.\u00a0<\/p>\n Early whales and coins stirred over the week. A Satoshi-era miner \u201cwoke up\u201d after 15 years and moved 50 BTC<\/a> to new addresses. In addition, 2,000 BTC moved<\/a> from a physical Casascius series.<\/p>\n Arab Chain specialists also noted that in November crypto miners transferred more than 220,000 BTC to Binance, up from 186,000 BTC in October.\u00a0<\/p>\n CryptoQuant CEO Ki Young Ju warned<\/a> that negative sentiment dominates the crypto market. Without an influx of macro liquidity, he said, the industry risks entering a prolonged downturn.<\/p>\n Most top-10 cryptocurrencies by market value, like bitcoin, were subdued. DOGE (-6.7% over seven days), XRP (-6.8%) and SOL (-3%) led declines.<\/p>\n Total crypto market capitalisation fell to $3.12 trillion. BTC dominance is 56.9%, ETH \u2014 11.7%.<\/p>\n The popular market-sentiment gauge<\/a> stands at 20, signalling \u201cextreme fear\u201d.<\/p>\n On 3 December, Ethereum developers successfully activated<\/a> the Fusaka upgrade on mainnet. Full rollout concluded on 5 December.<\/p>\n The hard fork<\/a> is meant to deliver foundational improvements to boost the scalability, efficiency and security of the network behind the second-largest cryptocurrency.\u00a0<\/p>\n Fusaka is the second-largest upgrade by scope, bundling ten improvement proposals. The most important \u2014 EIP-7594<\/a> \u2014 brings the PeerDAS protocol to Ethereum. The technology allows validators to verify small fragments instead of entire BLOB<\/span> objects, improving data availability across the ecosystem.\u00a0<\/p>\n The upgrade also more than doubles the layer-1 gas limit. In theory, this lifts blockchain throughput to 12,000 TPS<\/span>.<\/p>\n Other changes include:\u00a0<\/p>\n There were hiccups. Shortly after Fusaka\u2019s activation, a failure in the popular consensus client Prysm took offline<\/a> a portion of Ethereum validators.\u00a0<\/p>\n At one point only 75% of nodes were signing current block headers, and participation in consensus fell to 74.7%. The network teetered on the brink of a major outage, but the issue was stabilised.\u00a0<\/p>\n Ether\u2019s price reacted positively to the hard fork, briefly jumping from $2,700 to $3,200. It has since eased to about $3,000, little changed on the week.<\/p>\n The week also marked an expansion by big institutional players. On 2 December, the world\u2019s second-largest asset manager, Vanguard Group, opened<\/a> access to trading ETFs and mutual funds based on digital assets.<\/p>\n The firm\u2019s basket includes products based on bitcoin, Ethereum and other altcoins such as XRP and Solana.<\/p>\n Although Vanguard had previously criticised cryptocurrency as an \u201cimmature asset class\u201d, the company shifted course after former BlackRock executive Salim Ramji became CEO.<\/p>\n \u201cCryptocurrency ETFs and mutual funds have been battle-tested during periods of market volatility, demonstrating expected results and maintaining liquidity. The administrative processes for servicing these instruments have become more mature, and investor preferences have changed,\u201d said Andrew Kadjeski, head of brokerage and investment services at Vanguard.<\/p>\n<\/blockquote>\n One of America\u2019s largest banks \u2014 Bank of America (BoA) \u2014 also announced<\/a> it will start recommending that institutional clients allocate 1% to 4% of portfolios to digital assets.<\/p>\n The option will be available to users of the Merrill, Bank of America Private Bank and Merrill Edge platforms. From 5 January 2026 the product line will include Bitwise Bitcoin ETF (BITB), Fidelity\u2019s Wise Origin Bitcoin Fund (FBTC), Grayscale\u2019s Bitcoin Mini Trust (BTC) and BlackRock\u2019s iShares Bitcoin Trust (IBIT).<\/p>\n \u201cThis update reflects growing client demand for access to digital assets,\u201d added Nancy Fahmy, head of BoA\u2019s Investment Solutions Group.<\/p>\n<\/blockquote>\n Additionally, Uniswap Labs announced a partnership<\/a> with fintech firm Revolut, enabling customers to buy digital assets directly in the exchange\u2019s web app and wallet.<\/p>\n The service is available to residents of 26 countries in the European Economic Area. The platform supports more than 40 tokens.\u00a0<\/p>\n When using Revolut Pay, users pay only blockchain gas; there is no service fee. Existing neobank customers do not need additional KYC<\/span> checks.<\/p>\n At the start of the week, Telegram founder Pavel Durov announced<\/a> the launch of a \u201cdecentralized confidential computing network\u201d, Cocoon<\/a>.<\/p>\n The platform is designed for AI workloads on the TON network. It \u201csecurely connects\u201d owners of graphics processing units (GPUs), who provide compute resources, with applications that require privacy and need to run AI models. This lets \u201clessors\u201d earn income in cryptocurrency.<\/p>\n Cocoon consists of three components:<\/p>\n \u201cAnyone with a server with a GPU can rent it out and earn money. Requests and responses remain confidential and are known only to the client,\u201d the developers said.<\/p>\n<\/blockquote>\n Durov noted that centralized compute providers such as Amazon and Microsoft act as costly intermediaries, raising prices and eroding privacy. Cocoon tackles both problems.<\/p>\n \u201cNow we are scaling. Over the next few weeks we will onboard more GPU providers and developers. Telegram users will soon see new AI features offering 100% privacy,\u201d he said.<\/p>\n<\/blockquote>\n TON barely reacted to the launch. At the time of writing, the asset was trading at $1.57.<\/p>\n Also on ForkLog:<\/strong><\/p>\n On 1 December, Poland\u2019s president, Karol Nawrocki, vetoed<\/a> the \u201cCryptoassets Market Act\u201d<\/a>. In his view, the bill\u2019s provisions \u201cthreaten the freedoms of Poles, their property and the stability of the state\u201d.<\/p>\n One key reason for the veto was a clause allowing authorities to block websites linked to the crypto market. He also pointed to the bill\u2019s excessive complexity and size.\u00a0<\/p>\n \u201cOverregulation is an easy way to make companies leave for Czechia, Lithuania or Malta instead of creating conditions for them to operate and pay taxes in Poland,\u201d the president added.<\/p>\n<\/blockquote>\n Another sticking point was high supervisory fees that could stifle startup activity and favour foreign corporations and banks.<\/p>\n Not all politicians supported Nawrocki\u2019s move. Finance Minister Andrzej Doma\u0144ski and Deputy Prime Minister Rados\u0142aw Sikorski voiced their displeasure.\u00a0<\/p>\n Doma\u0144ski stressed that about 20% of users now lose funds due to abuses in the crypto market. Instead of regulation, he said, the president \u201cchose chaos\u201d.\u00a0<\/p>\n The Polish Sejm fell short<\/a> by 18 votes of overturning the veto.\u00a0<\/p>\n The failed attempt forced the government to restart the process from scratch, leaving Poland the only EU member state without a domestic framework for MiCA<\/a>.<\/p>\n![\"image\"](\"https:\/\/forklog.com\/wp-content\/uploads\/img-c49c831ff9a211a1-334920154856975-1024x488.png\")
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Fusaka hard fork\u00a0<\/strong><\/h2>\n
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What to discuss with friends?\u00a0<\/h2>\n
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Institutional access\u00a0<\/h2>\n
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Telegram\u2019s AI platform\u00a0\u00a0<\/h2>\n
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Regulatory rift in Poland<\/h2>\n
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What else to read?\u00a0<\/h2>\n