StraitsX announced on December 16th a partnership with the Solana Foundation to integrate its Singapore dollar-backed stablecoin XSGD and US dollar-backed stablecoin XUSD onto the Solana blockchain, with a planned launch in early 2026. This integration will leverage Solana's efficient, low-cost network to enable real-time global payments and digital commerce. XSGD and XUSD have already been running on multiple blockchains, accumulating over $18 billion in on-chain transaction volume. This Solana listing will be the first time the Singapore dollar and US dollar are deeply connected on the same chain, supporting on-chain forex, AMM liquidity, lending markets, and institutional-grade payment flows. StraitsX and the Solana Foundation will also collaborate to promote deep liquidity in DEXs, AMMs, and lending markets, further solidifying Solana's core position in AI-driven on-chain payments and DeFi applications.

According to CoinDesk analysis, 75 of the top 100 cryptocurrencies by market capitalization are trading below their 50-day and 200-day Simple Moving Averages (SMAs), indicating overall weakness in the digital asset market. Bitcoin's price has fallen from its all-time high of over $126,000 in early October to $87,000, driving outflows from the market. Major cryptocurrencies such as Ethereum, Solana, BNB, and XRP are also trading below key moving averages, representing 78% of the $3 trillion crypto market capitalization, further dragging down market sentiment. In contrast, only 29 stocks in the Nasdaq 100 index have shown similar weakness, indicating that tech stocks still have market breadth. Bitcoin typically moves closely with the Nasdaq, amplifying downward volatility during bear markets. Currently, only eight cryptocurrencies are showing oversold conditions on the Relative Strength Index (RSI), including PI, APT, and ALGO, suggesting that most tokens may still have room for further decline. Analysts believe that this market performance may indicate continued pressure on the crypto market in the short term.

According to Futu data, Hashkey Holdings (03887.HK) saw its Hong Kong stock price surge to around HK$7.8 in grey market trading before falling back to HK$6.76, with a current market capitalization of HK$18.693 billion. Previously, its grey market share price had risen by over 13%, pushing its market capitalization to around HK$21 billion.

Huoxun Finance News, December 16th - According to Cailian Press, Douyin released the "Douyin Community Finance Industry Convention (Trial)" on December 16th, clarifying core governance norms such as account qualifications, content management, and marketing behavior, as well as mechanisms for handling violations and holding those responsible accountable, thus regulating the dissemination of finance-related content. The Convention applies to all accounts on the Douyin community that publish finance-related content, defining governance boundaries from the source. Regarding account qualifications, the Convention encourages creators in the finance field to complete platform-wide financial professional qualification certification and explicitly prohibits uncertified accounts from publishing financial professional content or recommending related services.

Huoxun Finance reported on December 16th that Solana stated on its X platform that it has been under continuous DDoS attack for the past week, the fourth largest in the history of any distributed system. As of now, this attack has not affected Solana's network performance; Solana was designed to survive even under such extreme conditions.