Ark Adds $9.1M in Circle and Bullish as Crypto Stocks Keep Sliding

The UAE has enacted a new financial law that integrates cryptocurrency and blockchain technology into traditional finance, placing them under the supervision of the Central Bank. This decree aims to solidify the UAE's position as a global leader in the cryptocurrency sector.

Aptos (APT) has been trading relatively unchanged, underperforming compared to the broader cryptocurrency market rally, with current support at $2.16 and resistance at $2.31. This stagnation occurs as Bitcoin leads a rebound in the market, recovering from earlier losses and rising above $86,000.

Ark Invest, led by Cathie Wood, has made significant purchases of stocks from Block, Circle, and Coinbase as the cryptocurrency market faces renewed pressure due to tightening liquidity and a decline in investor risk appetite. This strategy reflects a belief in the long-term potential of these blockchain companies despite current market challenges.

Nasdaq ISE has filed to elevate the option limits for BlackRock's iShares Bitcoin Trust (IBIT) to top-tier status, reflecting a surge in IBIT options activity and a shift of open interest towards U.S. regulated venues. This move comes amid a backdrop of fluctuating investor sentiment in the cryptocurrency market.

Bitcoin has recently reversed its downward trend, surpassing the $90,000 mark just ahead of Thanksgiving, a notable shift from the typical pre-holiday price declines observed in previous years. This rebound follows a period of volatility, where Bitcoin's price had dipped significantly earlier in the week.

U.S. Bank has selected the XLM network to conduct a pilot program for programmable digital currency, resulting in a 2.6% increase in XLM's value to $0.25. This initiative marks a significant step in the bank's exploration of digital assets and stablecoin issuance on the Stellar network.

Hedera's native token, HBAR, has risen by 1% to surpass the critical resistance level of $0.143, driven by institutional accumulation as the launch of futures approaches. This increase follows a period of volatility where HBAR faced significant downward pressure, including a recent drop below $0.1373.

The decentralized finance (DeFi) sector has experienced a notable decline, with a total value locked dropping by $55 billion since October. Despite this downturn, the underlying fundamentals of DeFi protocols remain robust, as evidenced by increasing activity on decentralized exchanges (DEXs).