Nexo Radar

Daily Market Dispatch – January 7, 2026 Crypto markets consolidate as ETF flows diverge and macro tests loom The total crypto market capitalization remains stable around $3.16 trillion as markets eased mid-week after an early-January rebound. Bitcoin and major altcoins consolidated amid heightened geopolitical uncertainty and a heavy macro calendar, with price action across digital assets pointing toward consolidation rather than renewed distribution. Traditional markets reflected a similar tone. U.S. equity futures hovered near flat, oil prices softened as Venezuelan supply headlines eased near-term scarcity concerns, and gold pulled back from record highs as profit-taking emerged. Across asset classes, positioning remains cautious but disciplined, with capital waiting for clearer macro signals before re-engaging. Bitcoin Bitcoin drifted lower toward the low-$92,000s after failing to extend its early-year recovery, as geopolitical risk and an incoming wave of U.S. macro data capped upside momentum. Even so, price action remains orderly, with BTC holding within a well-defined range after much of the excess leverage from late 2025 was already cleared. ETF activity reinforced this consolidation dynamic. Bitcoin spot ETFs recorded roughly $243 million in net outflows, reflecting profit-taking and exposure recalibration rather than a decisive risk-off move. The moderation in flows mirrors Bitcoin’s range-bound behavior, suggesting institutional investors are pausing to reassess positioning ahead of clearer signals from labor market data and the upcoming FOMC decision. Ethereum & Altcoins Ethereum is up around 10% in January and is trading just above $3,200, bringing daily structure back into focus as investors assess whether recent gains can be sustained. Price has repeatedly defended its late-2025 demand zone but remains capped by the 200-day EMA. ETF flows have tilted in Ethereum’s favor. Spot ETH ETFs recorded approximately $114 million in net inflows, supporting its relative resilience and signaling continued institutional engagement even as Bitcoin flows softened. That selective rotation extended further down the curve. Solana ETFs attracted around $9 million in inflows, while XRP products saw roughly $19 million, reinforcing the view that demand remains active for specific narratives rather than broadly distributed across the market. XRP continued to stand out, supported by persistent institutional-style demand and tightening liquidity, while most other majors lagged. Macro & Institutional Macro conditions remain finely balanced. U.S. equity futures were subdued as markets looked past recent geopolitical shocks and toward labor data, services activity, and earnings for direction. Employment trends remain central to policy expectations, with the labor market continuing to dictate how much flexibility central banks retain. In commodities, oil prices eased as expectations of Venezuelan supply returning to global markets softened near-term risks, while gold pulled back after a sharp safe-haven rally. In Europe, euro-area inflation reached the ECB’s 2% target, reinforcing the disinflation narrative without fully removing policy uncertainty. Looking Ahead Crypto markets now face a dense inflow of U.S. labor market data, with ADP employment and JOLTS job openings due Wednesday, initial jobless claims arriving Thursday, and a full slate of wage growth, payrolls, and unemployment data scheduled for Friday. These releases could prove pivotal for expectations around the Federal Reserve’s next interest rate decision and the FOMC meeting at the end of January, shaping whether risk assets can re-engage or remain range-bound as the week closes. — Iliya Kalchev, Nexo Dispatch analyst For informational purposes only; not financial or investment advice.

Daily Market Dispatch – January 6, 2026 Crypto opens 2026 with a rebound as key U.S. labour data looms Crypto started 2026 on firmer footing, with the total crypto market cap rebounding to $3.22 trillion as early-year flows stabilised sentiment. The Fear & Greed Index has exited fear and settled into neutral, suggesting risk appetite is recovering without tipping into excess. When sentiment improves before leverage rebuilds, markets tend to reprice in a more orderly, durable way. Early-year positioning is being reinforced by broad-based inflows across major crypto ETFs, signalling that risk appetite is returning through regulated channels rather than leverage or speculative tail risk. Bitcoin is holding near $93,000, with Ether around $3,200, as the recovery remains led by the most liquid assets. In traditional markets, the tone is constructive but selective: equities continue to digest recent record highs, energy and technology remain leadership pockets, while precious metals stay bid and copper trades at record levels, reflecting a blend of momentum and hedging. Bitcoin Bitcoin is steadying after its early-year bounce above $93,000, with near-term price action increasingly shaped by flows versus perceived supply overhangs. The market is showing early signs of stability as regulated demand rebuilds, even as participants remain sensitive to macro repricing and headline risk. The near-term test is whether steady institutional demand can anchor price action while treasury-related headlines remain secondary to flows and macro conditions. Ethereum & Altcoins Ethereum’s positioning is quietly improving beneath the surface. Ether is trading around $3,200, holding recent gains as on-chain signals point to easing sell-side pressure. The validator exit queue has fallen to zero, while the entry queue has climbed to ~1.3 million ETH, signalling renewed willingness among large holders to commit capital to staking rather than withdraw it. Altcoin leadership remains highly concentrated. XRP outperformed, pushing toward $2.4 on strong volume, reinforcing a broader structural trend visible through 2025: capital is consolidating into a narrow group of institutional-grade alt majors with liquidity, regulatory clarity, and scalable exposure. Macro & Institutional Across traditional markets, momentum remains supportive but nuanced. Asian equities extended gains into the new year, Europe followed higher, while U.S. futures softened modestly after recent record closes. From an institutional crypto perspective, ETF flows point to a coordinated re-risking rather than a single-asset trade. Bitcoin ETFs led with roughly $697 million in net inflows, followed by Ethereum with $168 million, while XRP and Solana ETFs added approximately $46 million and $16 million respectively. The significance lies less in any single figure and more in the breadth of participation, suggesting allocators are rebuilding diversified crypto exposure through liquid, regulated vehicles as 2026 begins. Commodities reflect a mix of momentum and caution. Gold remains near record highs, silver and copper are firm, and oil is volatile as markets assess geopolitical developments and potential supply implications. In FX, the dollar has stabilised after recent volatility, while the yen remains supported by expectations of further BOJ tightening. Looking Ahead Markets now turn their focus to a dense run of U.S. economic data through the week, starting with Services PMI on Tuesday, followed by ADP employment and JOLTS openings on Wednesday, initial jobless claims on Thursday, and culminating in average hourly earnings, the nonfarm payrolls report, and the unemployment rate on Friday. Together, these releases will shape expectations around labour-market resilience, wage pressures, and the Fed’s policy path, with signs of cooling likely to support risk appetite. — Iliya Kalchev, Nexo Dispatch analyst For informational purposes only; not financial or investment advice.

A shortened holiday week, but not without momentum – key U.S. data releases will still set the tone across inflation, consumers, and housing: 🇺🇸 Core PCE Price Index (YoY, Oct) – Tue, Dec 23, 13:30 GMT 🇺🇸 Durable Goods Orders (MoM, Oct) – Tue, Dec 23, 13:30 GMT 🇺🇸 CB Consumer Confidence (Dec) – Tue, Dec 23, 15:00 GMT 🇺🇸 New Home Sales (Sep–Nov; MoM & headline) – Tue, Dec 23, from 20:00 GMT 🇺🇸 Initial Jobless Claims – Wed, Dec 24, 13:30 GMT

Daily Market Dispatch – December 19, 2025 Crypto awaits a catalyst as soft CPI meets a BoJ hike Bitcoin is hovering around $88,000 as the market grinds through another slow session, with the total crypto market cap holding steady around $2.97 trillion. Price action remains orderly but indecisive – a market waiting for permission to move, as traders look for clearer macro signals. Yesterday’s U.S. inflation data added a fresh layer: headline CPI cooled to 2.7% and core to 2.6%, softer than expected but muddied by shutdown-related gaps that limit clean interpretation. Traditional assets are firmer after the print, though major indices remain on track for weekly losses. Globally, the Bank of Japan raised rates to 0.75%, its highest level since 1995, weakening the yen and reinforcing a backdrop where policy divergence, not direction, is defining year-end market dynamics. Bitcoin Bitcoin is trading slightly higher on the day but remains confined to the high $80,000s, extending a week marked by tight ranges and declining volumes. The asset’s repeated failure to reclaim $90,000 underscores a consolidation phase rather than a trend break, amplified by late-December liquidity that leaves prices sensitive to small flows. U.S. spot ETFs saw $167 million in outflows, reinforcing the cautious tone. The softer CPI print has nudged expectations toward further Federal Reserve easing after last week’s move to 3.50%–3.75%, but with the data distorted by shutdown-related gaps, markets are treating it as a directional clue rather than a decisive signal. For now, Bitcoin trades like a patient asset. Ethereum & Altcoins Ethereum is slightly outperforming near $2,900, though most majors remain muted. ETF flows highlight a shift beneath the surface: $96 million in outflows from Ethereum products, countered by $30 million of inflows to XRP and $13 million into Solana – a pattern that suggests rotation rather than de-risking across leading exchange-traded products. Altcoins are tracking Bitcoin’s drift, with XRP flat, Solana quiet, and Polygon slipping modestly. Ethereum’s development cycle continues to mature. Developers formalized “Glamsterdam” and “Hegota” as the network’s two upgrades for 2026, cementing a predictable twice-yearly cadence. Macro & Institutional The November CPI report cooled more than expected – 2.7% headline and 2.6% core, but the print remains structurally incomplete due to missing October data. Inflation is still above the Federal Reserve’s 2% target, the labor market is softening, and the Committee is divided after last week’s rate cut. Globally, the Bank of Japan raised rates to 0.75%, its highest level since 1995 and the second hike this year. In Europe, the European Central Bank held rates at 2%, the Bank of England’s cut was closer-run than expected, and European Union leaders approved a major jointly financed aid package for Ukraine. Institutionally, regulatory direction continues to shift. Michael Selig’s confirmation as the next chair of the Commodity Futures Trading Commission places a crypto-native policymaker at the center of derivatives and spot-market oversight just as Congress debates expanding the agency’s authority. Looking Ahead The market now enters the quiet stretch of the Christmas holidays, when thinner liquidity often suppresses volatility but can magnify any surprises. Next week’s calendar is lighter, with United Kingdom third-quarter GDP and the U.S. Conference Board Consumer Confidence report offering the clearest read on how resilient demand remains into year-end. If confidence and growth indicators hold up while inflation continues to cool, early-2026 rate expectations could harden into a broader risk-on shift; if not, crypto’s narrow ranges may prove to be the market’s path of least resistance into year-end. — Iliya Kalchev, Nexo Dispatch Analyst For informational purposes only; not financial or investment advice.

Our year-end community giveaway continues - join for the chance to win A new year brings new intentions – the things we want more of. In 2026, I’m choosing more ____. Share your answer and react to the post for a chance to win a Nexo gift pack. Replies accepted until Dec 22. Fifteen winners will be randomly selected from eligible entries and announced on Dec 23. Terms apply.

Daily Market Dispatch – December 18, 2025 Bitcoin holds firm as softer U.S. CPI sets the macro tone Global markets are cautiously firmer ahead of today’s U.S. CPI release, with equity futures supported by a constructive update from Micron that helped ease last week’s tech softness. Investors are watching the inflation print largely to refine expectations for the Fed’s early-2026 policy path rather than reassess the broader macro outlook, which remains stable. Crypto mirrors this tone, with Bitcoin continuing to trade within its established range, and the total crypto market cap remains steady around $2.96 trillion, indicating measured positioning rather than reactive shifts. With central bank meetings in Europe and a closely watched Bank of Japan decision approaching, sentiment across assets remains selective and poised for clearer policy signals. Bitcoin Bitcoin trades near $88,000 after a week of quick but contained swings. Recent moves continue to reflect thin liquidity and options-related flows rather than a shift in underlying demand. Structural resistance between $93,000–$120,000 remains the key upper range, while the True Market Mean near $81,300 continues to anchor the downside. ETF activity offered an encouraging signal this week, with $457 million of inflows – the strongest since early November, pointing to renewed interest from longer-term allocators. Futures positioning is also stabilizing: Bitcoin futures open interest has climbed back to roughly $30 billion, last seen during April’s market pullback, reflecting lower leverage but sustained engagement. Overall, the structure still favors consolidation, with macro developments likely to dictate the next move. Ethereum & Altcoins Ethereum eased toward the $2,900 level, reflecting the same patient tone seen across the broader crypto complex. Short-dated options still carry a modest caution premium, but medium-term skew has normalized – a healthier setup heading into 2026. Altcoins followed a similarly measured pattern. XRP and Solana posted modest ETF inflows – $18 million and $10 million, respectively, underscoring persistent institutional interest even as activity cools into year-end. Macro & Institutional Today’s CPI report delivered a notable downside surprise: headline inflation rose 2.7% YoY in November, below expectations for 3.1% and down from September’s 3.0% reading. Core CPI came in at 2.6%, also softer than forecast. The trend remains above the Fed’s desired ~2% level, keeping attention on the central bank’s policy path. The Fed cut rates by 25 bps last week to 3.5%–3.75%, its lowest range since 2022, though internal divisions remain pronounced, with three formal dissents and several members signaling reservations. The softer CPI adds nuance rather than clarity to the early-2026 outlook, especially as the labor market continues to gradually weaken. Internationally, policy divergence remains a driver of sentiment. The Bank of Japan continues to weigh a potential rate increase as yen dynamics evolve, while European central banks lean toward maintaining current settings. Across institutional surveys, concerns about stretched AI-related valuations remain the most cited risk for 2026, even as recession expectations continue to moderate. Looking Ahead With next week marking the start of the Christmas holidays, the global data calendar naturally thins, leaving only a handful of notable releases such as the U.K.’s final Q3 GDP print and the U.S. CB Consumer Confidence report. Trading conditions are likely to remain orderly into year-end as investors assess today’s softer CPI release and await fuller clarity in January. The tone across assets suggests quiet positioning rather than disengagement as markets look toward how early-2026 policy signals may set the stage for the next move. — Iliya Kalchev, Nexo Dispatch Analyst For informational purposes only; not financial or investment advice.

Meet the Nexo Validator – your extra layer of security. Quickly confirm whether a social media profile, email, or communication channel truly belongs to Nexo. How it works: 🌐 Choose a platform 🔍 Paste the handle, email, or link ✅ Get an instant authenticity check Try it now 👉 https://nexo.com/channel-validator

Daily Market Dispatch – December 17, 2025 BTC holds its range on evolving macro conditions evolve and ETF outflows Crypto markets open slightly softer, with total capitalization now just above the $3 trillion mark at $3.04 trillion, while Bitcoin holds a narrow range and is trading toward $90,000 ahead of key macro events. U.S. equity futures are modestly higher, Asia is firmer on a mild tech rebound, and safe havens remain strong, with gold nearing record highs and silver already setting new ones. Oil is off multi-year lows after the U.S. moved to block sanctioned Venezuelan tankers. Macro sentiment is anchored by a cooling but still resilient U.S. labor market. November payrolls came in stronger than expected, while the unemployment rate rose to a four-year high. Softer purchasing managers indices and flat retail sales reinforce expectations for measured easing rather than aggressive cuts. With CPI due Thursday and Fed Governor Christopher Waller speaking today, markets enter a data-heavy window that could set year-end direction. Bitcoin Bitcoin trades near $90,000 as ETF outflows continue to moderate momentum. U.S. spot Bitcoin ETFs recorded $277 million in redemptions yesterday, keeping flows negative and volatility compressed. Onchain dynamics point to a broader structural transition. Roughly 1.6 million previously dormant Bitcoin have reactivated since 2024, with nearly $300 billion in year-old supply revived this year alone. With close to one fifth of total supply having rotated over two years, long-term distribution appears to be nearing saturation just as institutional access expands. That shifts the medium-term balance toward demand-driven price formation. Near-term direction now hinges on macro signals. CPI and Waller’s commentary will determine whether consolidation persists or gives way to a more directional move. Ethereum & Altcoins Ethereum remains subdued but now trades above $3,000 after $224 million in ETF outflows. Liquidity across majors remains thin, with price action still tied closely to macro sentiment. Selective inflows provide some contrast: XRP ETFs added $8 million, and Solana ETFs saw $3 million in inflows. Still, majors like Solana, Cardano, and Polygon remain range-bound. A clearer macro tone and easing supply pressure in Bitcoin would open the door for rotation into higher-liquidity altcoins into quarter-end. Macro & Institutional U.S. data continue to signal gradual cooling. Payrolls rose 64,000, unemployment reached 4.6%, PMIs softened, and retail sales were flat. Markets now price a deeper easing cycle than the Fed’s own projections, which puts added importance on Waller’s remarks ahead of Thursday’s inflation release. Gold and silver remain well supported, reflecting both macro uncertainty and expectations for further easing. Oil has bounced above $60 Brent after the Venezuelan tanker blockade, though the medium-term outlook still points to potential surplus in 2026. Fed leadership is now part of the market narrative. President Trump is set to interview Governor Waller as a potential successor to Chair Powell. Waller’s openness to stablecoins and DeFi, alongside his role in advocating rate cuts, makes his candidacy notable. Institutionally, crypto integration continues to accelerate. Nearly 60% of the largest U.S. banks are now working on Bitcoin custody, trading, or advisory services, using regulated white-label infrastructure. As long-term distribution fades and institutional rails deepen, crypto price formation is increasingly shifting toward traditional financial channels. Looking Ahead Markets now turn to a concentrated slate of catalysts: U.S. CPI and Initial Jobless Claims on Thursday, followed by the Bank of Japan’s interest-rate decision on Friday. With crypto still digesting ETF outflows but structural supply pressure easing, clearer macro visibility could shift risk assets – and especially Bitcoin – from a defensive stance toward selective risk-taking into year-end.

Announcing a landmark crypto partnership with Tennis Australia for Australian Open and Summer of Tennis Nexo has entered a multi-year global partnership with Tennis Australia, becoming the first Official Crypto Partner of the Australian Open and the Summer of Tennis. This marks the first time a digital asset company has partnered with any Grand Slam tournament – a milestone that marks a new chapter for the sport and our industry. The collaboration extends our presence in the Coaches Pod at the Australian Open, a focal point for strategy and courtside decision-making across the tournament’s major arenas. It’s a significant step in our global expansion in elite sport and builds on a breakthrough year across tennis and golf. Full announcement here: Nexo announces landmark crypto partnership with Tennis Australia for Australian Open and Summer of Tennis

Enjoy free EUR & GBP transfers The holidays get busy, so we’re lightening things a bit. From Dec 16 to Jan 16, you can add EUR or GBP to your Nexo account at no cost, no matter the amount. Тopping up a little for the holidays or planning ahead for the new year? Enjoy a lighter way to fund your account: Top up EUR or GBP

You can now use a passkey to access your Nexo account – the fastest and most secure way to log into your wealth. Your device becomes your key: ▪️ Quick access with Face/Touch ID or screen lock ▪️ Instant approvals for high-impact actions ▪️ No passwords to manage Set up yours now – here’s how: 1⃣ Open Nexo → My Profile 2⃣ Security & Settings → Passkeys 3⃣ Tap Add passkey 4⃣ Confirm with 2FA and follow your device prompt Next time you log in, it’s quicker – and safer – by default.

Daily Market Dispatch – December 15, 2025 Crypto stays firm above $3 trillion with a high-impact macro week on deck Crypto opens the week steady, with total market capitalization holding above $3 trillion, currently around $3.06 trillion. Bitcoin remains below $90,000 and majors continue to trade in tight ranges as markets wait for a dense run of data and rate decisions that could guide liquidity conditions into early 2026. The tone is patient, but the market feels poised rather than passive, with the next directional impulse likely coming from this week’s macro releases. Traditional markets are stabilizing as well, with US equity futures firmer into one of the final full trading weeks of the year. Investors are preparing for delayed US payrolls and CPI, as well as key decisions from the ECB, BoE, and BoJ – events that will help define whether early-2026 begins with easing momentum or renewed caution. Bitcoin Bitcoin is trading just under $90,000, extending a period of low-volatility consolidation ahead of updated US labor and inflation readings. Spot Bitcoin ETFs saw around $49 million of net inflows on Friday, reinforcing the view that structural demand remains intact even as price momentum cools. With macro catalysts arriving early in the week, the next move in Bitcoin is likely to be driven by incoming data, particularly if it strengthens expectations for a potential rate cut in January. Ethereum & Altcoins Altcoins continue to trade in orderly ranges, but positioning remains selective. Ethereum hovered around $3,100, with approximately $19 million of outflows from ETH products, suggesting portfolio rotation rather than broad risk reduction. XRP products recorded about $20 million in inflows, while Solana funds attracted roughly $3.6 million, indicating steady allocator interest in assets with clearer thematic support. Once macro uncertainty eases, dispersion could rise more visibly, giving altcoins additional room to lead. Macro & Institutional The macro focus this week centers on delayed US data – November payrolls, updated unemployment, CPI, and jobless claims, alongside CPI releases from the UK and Eurozone. Rate decisions from the BoE, ECB, and BoJ will shape the final policy tone of the year and help signal how global liquidity might evolve into early 2026. Gold has extended its rally into a fifth session, supported by a softer dollar, lower yields, and the Fed’s recent shift toward a more accommodative stance – a reminder that haven demand is quietly firming as markets wait for clearer signals. Institutional participation continues to expand. Global crypto investment products added around $864 million last week, led by US-based vehicles. Strategy acquired another 10,645 bitcoin, bringing its treasury above 671,000 bitcoin and reinforcing the rise of balance-sheet accumulation strategies. JPMorgan’s new tokenized money-market fund on Ethereum, combined with FSOC’s decision to remove crypto from its systemic-risk list, reflects a regulatory posture shifting toward integration rather than restriction – a trend that broadens the runway for institutional adoption into 2026. Looking Ahead The coming days gather a concentrated set of macro signals that could give investors a clearer read on how policy and liquidity may evolve into early 2026. Tuesday brings Eurozone sentiment data along with US nonfarm payrolls and the unemployment rate; Wednesday follows with UK and Eurozone CPI; Thursday includes the BoE and ECB decisions alongside US CPI and jobless claims; and Friday concludes with the BoJ rate announcement. Together, these releases will shape expectations for early-2026 monetary policy and determine whether crypto’s current calm extends or transitions into a more directional phase as liquidity signals become clearer. — Iliya Kalchev, Nexo Dispatch Analyst For informational purposes only; not financial or investment advice.

A packed week for global economics, with key inflation releases, labor-market updates, and major rate decisions coming from the U.K., the Eurozone, and Japan: 🇪🇺 Eurozone ZEW Economic Sentiment (Dec) – Tue, Dec 16, 10:00 GMT 🇺🇸 Nonfarm Payrolls (Nov) – Tue, Dec 16, 13:30 GMT 🇺🇸 Unemployment Rate (Nov) – Tue, Dec 16, 13:30 GMT 🇬🇧 UK Consumer price index (YoY & MoM, Nov) – Wed, Dec 17, 07:00 GMT 🇪🇺 Eurozone Consumer price index (YoY & MoM, Nov) – Wed, Dec 17, 10:00 GMT 🇬🇧 BoE Interest Rate Decision (Dec) – Thu, Dec 18, 12:00 GMT 🇪🇺 ECB Interest Rate Decision (Dec) – Thu, Dec 18, 13:15 GMT 🇺🇸 U.S. Consumer price index (YoY & MoM, Nov) – Thu, Dec 18, 13:30 GMT 🇺🇸 Initial Jobless Claims – Thu, Dec 18, 13:30 GMT 🇯🇵 BoJ Interest Rate Decision – Fri, Dec 19, 03:00 GMT

No ARCA Reporting – Independent Operations of Buenbit and Nexo Following Nexo’s recent acquisition of Buenbit, we would like to clarify that the two platforms continue to operate independently. Nexo does not report to ARCA (the Customs Collection and Control Agency). Any local reporting or disclosure obligations apply exclusively to Buenbit and to activities conducted through the Buenbit platform within Argentina, and do not extend to Nexo, its services, or its clients. There is no overlap in reporting, regulatory supervision, or client obligations between the two platforms. This structure is clear, established, and remains unchanged. Nexo continues to operate in accordance with the regulatory requirements applicable to its own products and services across the jurisdictions in which it operates.

Join our year-end community giveaway As the year wraps, we’re celebrating the things that matter most. Wealth is ____. Tell us what it means to you. React to the post and reply below for a chance to win a Nexo gift pack. Replies accepted until Dec 16. Fifteen winners will be randomly selected from eligible entries and announced on Dec 17. Terms apply.

Daily Market Dispatch – December 12, 2025 Crypto pushes for weekly gains ahead of a high-impact run of global data Total crypto market capitalization sits near $3.14 trillion, showing a slight recovery as majors firm into the end of the week. Bitcoin is back toward the upper end of its recent range, while altcoins are seeing selective strength as traders digest the Fed’s rate cut and stabilizing risk sentiment. Crypto continues to display quiet resilience, reinforcing the idea that liquidity cycles can distort equities long before they decide crypto’s next move. Traditional markets were mixed. U.S. futures hovered near flat after record highs in the S&P 500 and Dow, while tech sentiment softened as rising AI capex weighed on margins at Broadcom and Oracle. Gold and silver eased slightly after a strong week driven by the Fed’s shift in tone, with silver still near record levels. Oil edged higher on Venezuelan supply concerns, while UK GDP data showed another monthly contraction ahead of next week’s BoE decision. Macro remains busy, but it is shaping context rather than dictating crypto’s direction. Bitcoin Bitcoin traded near $92,600, up about 2.5% on the day and tracking a 4% weekly gain. The $88,000–$93,000 range still defines December. The Fed’s third rate cut supported conditions, though not enough to trigger a breakout. U.S.-listed Bitcoin ETFs saw $77 million in outflows, reflecting defensive year-end positioning among institutions. Momentum is steady but cautious; Bitcoin isn’t lacking demand, it is simply waiting for a catalyst strong enough to bend the range. The next impulse may come as Q1 allocations force investors to rebuild exposure against a more predictable macro backdrop. Ethereum & Altcoins Ethereum traded around $3,260, holding steady alongside Bitcoin. Solana rallied more than 6%, while XRP, Polygon, and others posted modest gains. ETF flows were mixed: Ethereum ETFs saw $42 million outflows, XRP products took in $16 million, and Solana ETFs added $11 million. Rotation remains selective but constructive as traders cautiously reach for beta. The question heading into early 2026 is where leadership emerges – whether in next-generation L1s, scaling-focused L2s, or real-world assets as regulation evolves. Macro & Institutional U.S. and European equities were steady after the Fed’s less-hawkish stance, though AI-linked heavyweights weighed on tech sentiment as capital expenditure surged faster than earnings. Gold and industrial metals paused after a strong week boosted by easier U.S. policy, while oil firmed on renewed supply risks. Consumer caution also featured, with Costco’s results highlighting continued demand for lower-priced goods. In Washington, momentum continued around digital-asset legislation. Senate Banking Chair Tim Scott reported progress after meeting major bank CEOs, as lawmakers work to reconcile SEC–CFTC jurisdiction and establish a unified market-structure framework. Even incremental clarity could reshape the institutional landscape for crypto in 2026, especially as regulation becomes a competitive frontier among global financial centers. Looking Ahead Next week brings a dense macro schedule: Eurozone ZEW sentiment on Tuesday alongside U.S. nonfarm payrolls, unemployment, retail sales, and wage data; UK and Eurozone CPI on Wednesday; and a major Thursday trifecta with the Bank of England and ECB rate decisions, plus U.S. CPI and jobless claims. These releases will help determine whether the post-Fed environment evolves into a calmer liquidity backdrop or reintroduces volatility. If data softens without signaling stress, crypto may find the air pocket it needs to shift from resilience to early-cycle momentum as investors position for 2026. — Iliya Kalchev, Nexo Dispatch Analyst For informational purposes only; not financial or investment advice.

Nexo has acquired Buenbit, one of Latin America’s leading digital asset platforms – a significant milestone in our global expansion strategy. A cornerstone of crypto adoption in Argentina and Peru, Buenbit is known for its user-friendly, compliance-first platform. Through this acquisition, Buenbit’s one million users will gain access to our industry-leading earning and credit products, advanced trading capabilities, institutional-grade security, and personalized client care. As part of our multi-year strategy for Latin America, we will establish Buenos Aires as a regional hub for future partnerships and investments in Argentina, Peru, and Mexico. Latin America remains one of the world’s most active crypto markets, recording nearly $1.5 trillion in digital asset transactions over the past three years, making it a key area for long-term growth. Full announcement: Nexo acquires Buenbit

Daily Market Dispatch – December 10, 2025 Calm to cautious optimism as markets brace for FOMC guidance Total crypto market cap is steady near $3.14 trillion, a welcome pause after recent volatility, with Bitcoin holding above $92,000 and altcoins extending gains ahead of the Fed. Traditional markets are less settled: Asian equities slipped as China’s ongoing deflationary signals and Japan edged closer to tightening, while U.S. futures sat flat into a “hawkish cut’’ that could reshape expectations for 2026. Oil is firmer after a sharp U.S. inventory draw, and precious metals remain elevated as investors hedge the risk that today’s rate cut marks the end of the easy part of the Fed’s path. Bitcoin Bitcoin enters the Fed decision with cleaner positioning and firmer spot demand. The move through the $89,000–$92,000 band triggered more than $300 million in short liquidations, resetting leverage and making BTC less vulnerable to forced unwinds. U.S. spot ETFs added roughly $150 million yesterday, signalling that allocators are buying consolidation rather than fading it. Structural momentum is improving too. With exchange balances drifting lower and leveraged positioning reset, BTC is better prepared for post-Fed volatility. A sharper tone from Powell could still push prices toward the mid-$80,000s, but a measured roadmap for 2026 would support the shift from speculative churn to institutional accumulation. Ethereum & Altcoins Altcoins are showing coordinated re-risking. Ethereum drew $177 million of ETF inflows, outpacing BTC on a percentage basis; Solana products added $16 million, and XRP funds recorded $8 million. Wallet accumulation in ETH, combined with strong demand across majors, suggests investors may be positioning for a crypto rebound as Fed commentary comes into focus. Whether this becomes more than a positioning reset depends on Powell’s tone. A supportive but cautious path would allow growth narratives to re-price – throughput chains, infrastructure tokens, and selective high-beta plays. In that case, this week’s altcoin strength becomes the opening stage of a rotation rather than a brief pre-FOMC bounce. Macro & Institutional The Fed’s decision is today’s hinge for global markets. A 25-basis-point cut is assured, but the dots and Powell’s tone will determine whether easing merely slows or pauses outright. After one of the fastest cutting cycles outside a recession, and with inflation sticky and fiscal stimulus building, rates are already near the lower bound of model-based guidance; any suggestion that the next move in 2026 could be upward would challenge assumptions across risk assets. Asia reflected that sensitivity: China’s CPI rose year-on-year but fell month-on-month, while producer prices declined for a 38th straight period; Japan’s sticky PPI kept a December hike in play. Silver hit fresh highs on supply concerns and safe-haven flows, while oil stabilized on a deep U.S. inventory draw. At the regulatory level, the SEC’s new leadership is preparing a token taxonomy and an innovation exemption – a meaningful pivot away from the enforcement-heavy posture of prior years, and a shift that could define digital-asset participation in 2026. Looking Ahead The FOMC statement, rate decision, and Powell’s press conference remain today’s defining catalysts, followed by Canada’s interest-rate announcement, U.S. initial jobless claims, and then U.K. GDP and German CPI. This sequence will determine whether policymakers can maintain a slower but still supportive path into 2026, opening the door to a broader crypto rebound, or whether a sharper hawkish shift keeps markets range-bound into year-end. — Iliya Kalchev, Nexo Dispatch Analyst For informational purposes only; not financial or investment advice.

Daily Market Dispatch – December 9, 2025 Crypto markets hold firm as Fed decision nears Crypto markets continue to stabilise above the $3 trillion threshold, with total capitalisation at $3.11 trillion. ETF flows remain rotational rather than risk-off: BTC ETFs recorded $60 million in outflows, while ETH, SOL and XRP products attracted $35 million, $1 million and $38 million. Traditional markets are also holding a cautious bid ahead of the Federal Reserve decision, with Dow futures up 0.1%, S&P 500 futures up 0.1% and Nasdaq 100 futures up 0.1%. Ten-year Treasury yields remain elevated, while Brent trades near $62.64 and WTI around $59.03. Investors appear to be maintaining positions while awaiting policy clarity. Bitcoin BTC trades above $92,000, remaining in a narrow $88,000–$93,000 range ahead of Wednesday’s decision. A 25 basis point cut is nearly fully priced in, though Powell’s guidance is expected to carry more weight for market direction. Structural demand remains steady. MSTR’s acquisition of 10,624 BTC, bringing its holdings to roughly 660,624 BTC, underscores ongoing long-term accumulation despite softer short-term flows. Exchange balances continue to trend lower and ETF outflows remain manageable, indicating a stable underlying backdrop. A cautious Fed could see BTC retest the lower end of the recent range, while more supportive communication may facilitate a move through $93,000 toward the $95,000 area, with scope for extension if liquidity conditions improve. Ethereum & Altcoins ETH trades near $3,100, SOL around $132 and XRP near $2.05, with overall activity subdued ahead of the Fed. ETF flows continue to show selective accumulation, suggesting a preference for rotation rather than broad risk-taking. Early signs of recovery persist across several networks, including stabilising active addresses, firmer transfer volumes and incremental liquidity improvements. While directional conviction remains limited for now, positioning indicates preparedness for a shift once macro uncertainty eases. Macro & Institutional The Federal Reserve begins its two-day meeting, with a 25 basis point cut widely expected though still debated due to limited data during the government shutdown. Powell’s communication will likely play a central role in setting expectations for the early-2026 policy path. Asian markets were mixed: China traded flat, Hong Kong declined on semiconductor weakness and Australia’s ASX moved lower following a hawkish hold from the RBA. In corporate developments, Nvidia received U.S. approval to export its H200 chips to China, though Beijing may introduce its own restrictions, while Paramount launched a $108.4 billion hostile bid for Warner Bros. Regulatory progress in the Middle East continues to accelerate as USDT and USDC receive expanded permissions under the ADGM framework and Binance secures full authorisation to operate its global platform from January 2026. Looking Ahead The week turns increasingly data-heavy, with Monday featuring U.S. JOLTS job openings and a 10-year Treasury auction, followed by Tuesday’s Bank of Canada rate decision and the FOMC statement, Fed rate decision and press conference. Thursday brings U.S. jobless claims alongside the U.K. GDP and German CPI, setting the macro tone into the weekend and determining how much of any Fed-driven momentum crypto can carry into year-end. — Iliya Kalchev, Nexo Dispatch Analyst For informational purposes only; not financial or investment advice.