Bitcoin Slips $85k, DATs Threatened By ‘mNAV Rollercoaster’
Cryptocurrency markets declined ahead of the holiday period, with Bitcoin dropping over 5% before partially recovering. Market volatility is straining digital asset treasury (DAT) companies, according to Solmate CEO Marco Santori, who notes their survival hinges on strong capital management and avoiding fluctuations tied to underlying token values. The U.S. SEC ended its four-year investigation into decentralized lending platform Aave, which subsequently revealed a 2026 “master plan” focused on scaling with Aave v4, a real-world asset (RWA) initiative called Horizon, and a major push for $1 billion in RWA deposits. Hyper Foundation proposed permanently sidelining $1 billion worth of HYPE tokens in Hyperliquid’s Assistance Fund, treating them as burned. ETHGas raised $12 million to develop an Ethereum blockspace trading platform amidst renewed interest in onchain “gas futures.” The SEC clarified that tokenized securities like stocks and bonds will be regulated under existing broker-dealer rules rather than as a separate class. Most leading cryptocurrencies ended the week lower; standout declines included Pump.fun (PUMP), down 32%, and Aster (ASTER), down over 27%.
