OPENOpenLedger Price

Wyoming Representative Harriet Hageman has sparked speculation about a 2026 Senate run by posting a cryptic "Soon" video after Senator Cynthia Lummis announced she will not seek reelection. Lummis, a key crypto industry ally and co-sponsor of major digital asset legislation, is retiring, leaving a significant void for crypto advocacy in the Senate. Hageman, while aligned with broader conservative priorities, is now being encouraged by Wyoming's crypto community, including Custodia Bank founder Caitlin Long, to embrace this legacy. The race will test whether Wyoming continues its role as a central hub for crypto policy or shifts focus to other agenda items.

Dogecoin's open interest, which had reached all-time highs in September, crashed to 2024 lows by mid-December, reflecting declining investor participation amid a falling price. However, it has since recovered, climbing back above $1.5 billion, suggesting traders are returning. Historically, rising open interest has often preceded price recoveries, as seen in September when it peaked alongside a near $0.3 DOGE price. This trend indicates a potential price bottom is forming. Despite this, daily trading volume remains at yearly lows, consistent with broader crypto market bearishness and extreme fear, where low liquidity suppresses prices.

Coinbase reports record-high open interest for 2025, with perpetual futures reaching $1 billion in June, U.S. futures hitting the same milestone in July, and derivatives options open interest surging to $60 billion in October. BitMine increased its ETH holdings by 44,463 last week, bringing its total to 4.11 million ETH—3.41% of Ethereum’s total supply. The firm also holds 193 BTC, $23 million in EightCo Holdings stock, and $1 billion in cash. Since October, it has acquired nearly 1.46 million ETH. Additionally, BitMine has staked 408,627 ETH, valued at $1.2 billion. If fully staked, its annual yield could reach $374 million, or over $1 million per day. MicroStrategy (MSTR) has purchased 225,027 Bitcoin so far this year—1.3 times the total annual Bitcoin mining output. Cantor Fitzgerald warns that Bitcoin may enter a prolonged downturn in 2026, potentially testing MicroStrategy’s average cost basis near $75,000. However, the market is more institutionally driven this cycle, with growing divergence between token prices and on-chain activity in DeFi, tokenization, and infrastructure. Regulatory clarity from U.S. legislation may encourage deeper institutional involvement. Hyperliquid Labs is set to distribute 1.2 million HYPE tokens (worth ~$31.2 million) to its team on January 6. HYPE has a max supply of 1 billion tokens, with over 61% still locked.

A warning that as traditional finance embraces blockchain, the specific form of crypto enthusiastically adopted by major financial intermediaries (exchanges, clearinghouses, banks, brokers) is likely to fail. Their approach is driven by a desire to preserve their own power and profits, not by the core principles of crypto. These institutions, with their monopolistic positions and lack of real competition, derive immense value from controlling the centralized "pipes" of the traditional financial system. Crypto represents a second, independent system built on decentralization, permissionless access, and anti-censorship—principles that inherently foster competition and threaten the entrenched dominance of these giants. When forced to adopt blockchain, these institutions will logically choose centralized, permissioned versions that allow them to retain control, rather than embracing the open, competitive nature of true decentralized networks like Ethereum. Their leadership, whose careers are built on centralization, will opt for solutions that protect their status quo. Therefore, the version of crypto they champion—a controlled, centralized mimicry—is destined to fail. The future of finance lies in a fundamentally different, decentralized architecture, not the repackaged old system.

The "Hankesong S1 & ETH Wuhan 2026" hackathon will be held offline in Wuhan from October 6th to 8th, 2026. Jointly organized by Ciyuan Ark, the Hubei University Student Entrepreneurship Incubation Alliance, Hankesong, and the Huazhong University of Science and Technology National Science Park (Wanggu Branch), this three-day event focuses on the theme of AI × Blockchain and is open to all developers interested in artificial intelligence and cybersecurity. The main track explores innovative applications combining AI and blockchain, with sub-tracks including Public Goods and BOT Chain BUILD BEYOND 2026. The venue is at No. 77 Wang'an Avenue, Dongxihu District, Wuhan. Teams of up to 5 members must participate on-site. Requirements include submitting a public GitHub repository, a demo video, and ensuring the project is original and not previously entered in other competitions. Participants will benefit from provided catering, accommodation subsidies, rest facilities, and prizes including funding, incubation recommendations, and connections to VC and media resources. Workshops will also be featured. Notable guests include Wang Dan (Hubei Software Enterprise Association), Guo Renjie (CEO of Yuandian AI), Treap (former head of Wuhan University Blockchain Association), Edison Xu (Langqian Founder), Chen (Nextstep Founder), and Li Guozheng (Hankesong Founder). Organizers include Ciyuan Ark, the Hubei University Student Entrepreneurship Incubation Alliance, Hankesong (initiated by Lingyan Future Group), and the Huazhong University of Science and Technology National Science Park Wanggu Branch. Registration is open until October 5th. Details are available via the official public account. Spots are limited and filled on a rolling basis. The full agenda will be announced soon, bringing together global developers, researchers, and builders to explore the latest advancements and future directions of AI and blockchain in Wuhan.