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JPMorgan Chase to start accepting Bitcoin, Ethereum as loan collateral: report
- JPMorgan will let clients use Bitcoin (BTC) and Ethereum (ETH) as collateral for loans.
- The move marks a major shift from Jamie Dimon’s past crypto criticism.
- Other major banks are expanding crypto custody and lending services.
JPMorgan Chase & Co. is reportedly preparing to let institutional clients use BTC and ETH as collateral for loans by the end of the year, as per a Bloomberg report.
The move marks one of the most significant steps yet by a major US bank toward integrating digital assets into traditional finance, signalling how fast cryptocurrencies are moving from the periphery to the core of global banking.
JPMorgan’s changing tune on crypto
For years, JPMorgan CEO Jamie Dimon was one of the fiercest critics of Bitcoin, calling it a “decentralised Ponzi scheme” and claiming that only criminals used it.
Dimon’s comments often shaped how Wall Street viewed the cryptocurrency market.
But Dimon’s tone has softened in recent years, especially since Donald Trump’s 2024 election win, which brought regulatory changes that have made it easier for banks to engage with digital assets.
Now, Dimon’s JPMorgan is taking a major step that would have seemed unthinkable just a few years ago.
The bank’s new program will reportedly allow institutional clients to pledge their Bitcoin and Ethereum holdings as collateral for loans.
The assets will be held by a third-party custodian, ensuring compliance with existing financial and regulatory standards.
From doubt to action
Speculation about JPMorgan’s crypto-collateral plans first emerged earlier this year when the Financial Times reported that the bank was exploring such a move, potentially by 2026.
At the time, scepticism ran high. Dimon’s long record of dismissing Bitcoin, combined with banks’ cautious approach to regulatory uncertainty, made the plan seem remote.
However, the landscape has changed rapidly in 2025. With Bitcoin trading above $111,000 and Ethereum nearing $4,000, the digital asset market has reached unprecedented maturity and capitalisation.
Bitcoin’s market cap has surged to over $2.2 trillion, while Ethereum’s market cap has climbed to nearly $478 billion.
The rise in these asset prices, combined with increased institutional demand, has made cryptocurrencies more appealing as loan collateral.
JPMorgan’s initiative will expand on its earlier decision to accept crypto-linked exchange-traded funds (ETFs) as collateral.
Other banks are also integrating crypto
JPMorgan’s shift mirrors a broader transformation across the financial sector.
Morgan Stanley plans to open cryptocurrency access to retail investors through its E*Trade platform in the first half of next year.
State Street, BNY Mellon, and Fidelity are all expanding their digital asset custody services, while BlackRock recently introduced new mechanisms allowing investors to convert Bitcoin directly into ETF holdings.
Even long-time sceptics like Standard Chartered have revised their stance, recognising the growing importance of cryptocurrencies in global finance.
These moves indicate that digital assets are no longer being viewed as speculative outliers but as legitimate components of diversified financial systems.
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Bitcoin’s institutional surge widens trillion-dollar gap with altcoins
- A trillion-dollar valuation gap now separates Bitcoin from other tokens.
- Altcoin market capitalisation could be $800 billion higher, data shows.
- A US-China trade selloff erased $380 billion from crypto markets.
Bitcoin’s growing dominance in institutional portfolios has created a near-trillion-dollar gap between the world’s largest cryptocurrency and its altcoin peers, according to new data shared by 10x Research.
The report attributes this widening divide to a structural shift in investor behaviour, particularly among retail traders in South Korea, who have redirected funds from altcoins to crypto-linked equities and exchange-listed vehicles that hold tokens.
Retail shift weakens altcoin liquidity
10x Research found that altcoin market capitalisation could be about $800 billion higher if retail investors—especially in South Korea—had not channelled their funds into crypto-related stocks and other equity markets.
Altcoins, which typically rely on retail liquidity to sustain upward momentum, have failed to attract enough new capital in this cycle.
Historically, South Korean traders have been a major force behind the altcoin boom.
Local exchanges have seen altcoins account for more than 80% of total trading activity, a stark contrast to global platforms where Bitcoin and Ether dominate 50% or more of daily volume.
But that pattern has shifted sharply this year, leading to a liquidity shortfall for smaller digital assets.
South Korea’s trading activity declines
From 5 November through 28 November 2024, the daily average trading volume on South Korean crypto exchanges stood at $9.4 billion, surpassing the $7 billion traded on the Kospi stock market during the same period, according to data from CCData and the Korea Exchange.
However, since then, 10x Research noted a steep decline in crypto activity, suggesting that retail participation has cooled significantly.
The report highlights that South Korea’s declining appetite for riskier altcoins has been instrumental in their recent underperformance.
Retail investors who once drove speculative rallies in coins such as XRP, Cardano, and Solana have turned instead to listed blockchain firms and exchange-traded vehicles offering indirect crypto exposure.
This shift has contributed to the overall weakness in altcoin prices.
Market losses deepen amid trade tensions
A recent selloff in the broader cryptocurrency market, triggered by escalating US-China trade tensions, exacerbated the situation.
The correction wiped out about $380 billion from total market value, with roughly $131 billion concentrated in altcoins, according to 10x Research’s data.
While Bitcoin and altcoins both suffered declines, smaller coins bore the brunt as investors sought safety in the more established and liquid assets.
Bitcoin’s appeal as a hedge within the crypto ecosystem has strengthened, reinforcing its dominance during market stress.
The selloff underscores a changing market structure where altcoins are increasingly viewed as speculative instruments, while Bitcoin’s perceived institutional legitimacy provides it with greater resilience during downturns.
As capital concentrates around Bitcoin and select equities, the broader altcoin market faces challenges in regaining lost momentum.
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Succinct (PROVE) price eyes $1.74 peak amid volume spike
- Succinct price jumped 20% amid a 228% spike in daily volume.
- PROVE outpaced most altcoins in the top 100 by market cap as bulls looked to break above $1.
- The altcoin traded higher amid a zero-knowledge proofs milestone on Arbitrum.
Succinct (PROVE) trends among cryptocurrency outperformers in the past 24 hours, with double-digit gains pushing the verifiable computation protocol’s native token to above $1.00.
As Ethereum’s Layer 2 ecosystems push boundaries in scalability and security, PROVE’s latest momentum aligns with fresh investor confidence.
Particularly, Succinct’s zero-knowledge proofs milestone on Arbitrum has coincided with the price surge.
The PROVE token mirrors gains for SynFutures, Aster and World Liberty Financial. Ethereum is also up amid CPI anticipation.
Succinct price tests $1 amid a 200% volume spike
The Succinct token (PROVE) rose sharply on Friday to test the psychologically significant $1.00 threshold.
Gains came as trading activity exploded, with PROVE climbing more than 20% from recent lows of $0.79 to highs of $1.02.
The uptick positioned Succinct as a standout performer in the altcoin space, outpacing Ethereum and other top altcoins.
Significantly, the upward pressure for the altcoin comes on the heels of a dramatic 228% spike in trading volume.
Market data from CoinMarketCap indicated Succinct’s volume exceeded $146 million as PROVE hovered above $0.98 amid a slight retreat.
However, PROVE price has jumped by more than 137% since touching lows of $0.41 on October 11, 2025.
Bulls could eye strengthening above $1 in the coming weeks, with the target on a new all-time high.
As PROVE hovers near $1, the combination of price appreciation and elevated volume suggests a breakout is likely.
The token reached its all-time peak of $1.73 in August 2025. Downside action could rely on critical support around $0.75.
Succinct hits key milestone
The crypto market has shown lacklustre action these past few days. However, Succinct has jumped by more than 32% in the past week.
Amid this market outlook, Succinct has achieved a landmark advancement in its mission to democratize ZK proofs.
The protocol recently announced the implementation of zero-knowledge proofs tailored for Arbitrum, Ethereum’s leading optimistic rollup.
Through its SP1 zero-knowledge virtual machine, Succinct has verified real Arbitrum blocks while maintaining seamless compatibility with the Ethereum Virtual Machine and Stylus smart contracts.
By enabling ZK proofs across all Arbitrum chains, including those built on the Orbit stack, Succinct unlocks new possibilities for modular DeFi, cross-chain bridges, and privacy-enhanced applications.
For the Succinct ecosystem, it solidifies PROVE’s utility as the economic backbone for proof generation, staking, and governance.
In August, while disclosing a strategic partnership with Tandem, the Succinct team said the integration with Arbitrum could be key to PROVE revenue.
“Since Arbitrum chains account for ~50% of L2 TVS, our rollup market just doubled. If the SPN can monetize a fraction of that value, it will unlock hundreds of millions in revenue for our ecosystem,” they posted on X.
While volatility remains inherent in crypto markets, the milestone and other developments affirm the Succinct’s edge against industry peers.
Traders will watch the market closely for signals of upward momentum.
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Bitcoin price forecast: BTC reclaims $111k, shows signs of recovery
Key takeaways
- BTC is up by more than 1% and is now trading above $111k.
- The coin could rally towards $115k if the bullish trend continues.
Crypto market gains stability
The cryptocurrency market has been volatile since the start of the week, with Bitcoin recording a whipsaw action. However, the market has gained stability in the last 24 hours, with the major coins recording healthy gains.
Bitcoin, Ether, and XRP prices have shown signs of stabilization early today as market momentum steadies after recent volatility. The leading cryptocurrencies are holding above key levels, with momentum indicators suggesting building bullish pressure and potential signs of recovery in the near term.
Bitcoin eyes $115k amid early signs of recovery
The BTC/USD 4-hour chart remains bearish and efficient despite Bitcoin adding 1% to its value in the last 24 hours. The cryptocurrency Bitcoin price faced rejection from the 50-day Exponential Moving Average (EMA) at $113,329 earlier this week and dropped by nearly 3% on Wednesday.
However, it retested the 61.8% Fibonacci retracement level at $106,453 and recovered 2.33% on Thursday before rallying above $111k.
The Relative Strength Index (RSI) indicator at 58 points upward on the 4-hour chart suggests early signs of growing bullish momentum. The RSI has to stay above the neutral 50 for Bitcoin to embark on a sustained rally. Furthermore, the Moving Average Convergence Divergence (MACD) lines converged in the last 24hours to form a bullish crossover.
If the bullish trend continues, Bitcoin could extend its rally toward the 50-day EMA at $113,329. An extended bullish run would allow it to reclaim the ILQ level at $115,137.
However, if the bulls fail to build on this momentum and the daily candle closes below $106,453, Bitcoin could extend losses toward the October 10 swing low of $102,000 over the next few days.
The momentum is switching bullish, and this could see Bitcoin extend its current gains towards the $115k resistance.
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