Market Signal Briefing

Toyota Motor said on Thursday its global production rose for a fifth consecutive month in October, lifted by strong U.S. demand for hybrid vehicles that offset weaker sales in Japan and China.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Alvin Lang
Nov 27, 2025 03:16

Render Network's recent activities highlight its influence in the 3D and AI sectors, featuring events in Tokyo, podcast insights, and governance updates.

Render Network has been making significant strides in the global 3D and AI sectors, as evidenced by its recent activities and events. From major 3D showcases in Tokyo to insightful podcast discussions, the network is expanding its reach and impact on the creative and technological landscapes.

Japan's Pixel x Pixel Event One of the standout moments for Render Network was its involvement in Japan’s largest 3D event, Pixel x Pixel. The event brought together top creators and industry leaders in 3D and motion graphics, with Render Network playing a pivotal role in the creator experience. Patrick Levar, supported by the network, covered the event, providing insights into how decentralized GPU compute is transforming artist workflows.

ProtoCalls Podcast with Jules Urbach In a recent episode of the ProtoCalls podcast, Render Network founder Jules Urbach discussed the transformative power of decentralized high-performance computing. Urbach highlighted how this technology is enabling Hollywood-grade rendering, scalable AI workloads, and new revenue streams for operators. The episode delves into the origins of OTOY, decentralization benefits, and the future opportunities for creators.

Artist Features and Global Showcases Blender artist Jessica Wiseman recently featured on Instagram Live to discuss her immersive piece “Cycle Reset” in New York City. Additionally, Render Network has been nominated for the BeInCrypto 100 Awards for Best DePIN Project, with public voting open until December 1st.

Governance Updates On the governance front, the Render Network community recently voted on two proposals. RNP-020 did not pass, while RNP-021, which expands support for enterprise-grade GPUs, received overwhelming approval. These decisions reflect the community's direction towards enhancing the network's capabilities.

AI Innovations and Partnerships The Render Network continues to be at the forefront of AI advancements. Notably, it was involved in AI voice replication projects and partnered with cultural institutions like the Louvre for AI-generated promotional films. Meta's introduction of SAM 3D, which addresses 3D data bottlenecks, further complements Render Network's focus on 3D workloads.

For more detailed insights into Render Network's global impact and innovations, visit the Render Network.

Image source: Shutterstock

render network
3d events
ai innovation
depin project

Bithumb, South Korea's second-largest crypto exchange, is closing its USDT market and order-book-sharing with Australia's Stellar Exchange after only two months, amid regulators' scrutiny of anti-money laundering controls.

Journalist

Posted: November 27, 2025

Key Takeaways
What’s the latest update on Zcash?
Reliance Global Group has shifted its entire DAT into Zcash.

Is ZEC at risk after its 20% weekly drop?
Despite the decline, the sell-off may be slowing.

Zcash [ZEC] may have spent the week bleeding nearly 20%, but not everyone is worried.

A new digital asset treasury (DAT) update has put good momentum behind the privacy coin, so there’s more than the price chart lets on.

Here’s the latest rundown.

A big DAT bet on Zcash
Reliance Global Group has shifted its entire DAT into ZEC, exiting all other holdings. The decision came after a full strategic review led by its Crypto Advisory Board, which concluded that ZEC offered the strongest long-term value.

Source: Reliance Global Group

In a recent statement, the company talked of Zcash’s privacy features, Bitcoin-based architecture, and compliance-ready design as core advantages.

AMBCrypto previously reported that Zcash has surged massively over the past three months, so the company’s confidence isn’t completely unforeseen.

Ezra Beyman, Chairman and CEO of Reliance Global Group, said,

“As we evaluated the rapidly evolving digital asset landscape, it became clear that Zcash’s privacy architecture and institutional flexibility align more closely with our vision than a diversified crypto portfolio.”

Under pressure

39 minutes ago

The push from the Nasdaq to increase option limits for the BlackRock Bitcoin fund shows Bitcoin markets are “breaking out of their training wheels.”

301

The Nasdaq International Securities Exchange has filed a proposal with the US Securities and Exchange Commission (SEC) to increase the position limits for options on BlackRock’s iShares Bitcoin Trust (IBIT) exchange-traded fund to 1 million.  

Position limits exist to prevent any one investor from controlling too many option contracts on the same stock, thereby reducing the risk of manipulative schemes that could affect prices, according to the notice and copy of the filing from the SEC on Wednesday.   

The Nasdaq has requested in its filing, which it sent on Nov. 13, to increase the BlackRock ETF limit from 250,000 contracts to 1 million, as the exchange has seen an ongoing increase in demand for IBIT, and the lower limit will impede trading activity and the strategies of investors, such as the use of effective hedging vehicles or an income-generating strategy. 

Source: Eric Balchunas Speaking to Cointelegraph, Vincent Liu, the chief investment officer at quantitative trading firm Kronos Research, said the SEC is likely to approve the proposal because “these adjustments are routine once an asset proves it can handle real volume. If approved, expect thicker order books, tighter spreads, and a more efficient options market.” 

“Super-sizing IBIT option limits is a straight win for liquidity, allowing bigger traders to let real size flow without friction. More depth, tighter spreads, and cleaner markets follow when constraints come off.” Crypto derivatives meet institutional scaleNasdaq previously filed to raise the limit from 25,000 to 250,000 in January because it was well above the trading volume minimum of 100 million shares to qualify. 

Liu said this current push from the Nasdaq to “super-size IBIT option limits shows Bitcoin markets breaking out of their training wheels.”

“Bigger bands mean bigger players can finally hedge, size up, and sharpen price discovery. A clear sign that crypto derivatives are shifting from niche to necessary,” he said. 

“Higher limits will spark a short-term pop in volatility. With more room to warehouse risk and hedge cleanly, liquidity stops gapping and starts acting like a true institutional venue with calmer books, better fills, and flow that compounds instead of fragments.” Bitcoin ETF in same league as tech giants like Apple and MicrosoftMeanwhile, Adam Livingston, a Bitcoin (BTC) analyst and author, said in a series of X posts on Wednesday that the move by Nasdaq places BlackRock’s Bitcoin ETF into the same category as the “largest, most liquid equities on Earth,” such as tech giants Apple and Microsoft. 

Source: Adam Livingston“They did it because the market has already decided Bitcoin is a mega-cap asset, whether Washington likes it or not. This is the moment every banker secretly feared,” he said. 

“This is where Bitcoin stops being that weird decentralized experiment and becomes a fully weaponized regulated asset class with institutional-grade derivatives depth. You don’t scale options by 40× unless you know demand is about to detonate.” Magazine: 2026 is the year of pragmatic privacy in crypto: Canton, Zcash and more

Bitcoin has surged past the $90,000 mark, buoyed by rising expectations of a December Federal Reserve rate cut.

Zcash (ZEC) may have endured a painful week with a 20% price decline, but fresh institutional confidence has injected new momentum into the privacy-focused cryptocurrency.

A new Digital Asset Treasury (DAT) update from Reliance Global Group has provided a significant boost. The company revealed that it has shifted its entire DAT exclusively into ZEC, fully exiting all other crypto positions following a strategic review by its Crypto Advisory Board.

Reliance Global Makes Full ZEC Allocation
The board concluded that Zcash offered the strongest long-term value proposition among all assets previously held. The company highlighted Zcash’s privacy-preserving architecture, Bitcoin-based foundation, and compliance-oriented flexibility as its core advantages.

In a public statement, Ezra Beyman, Chairman and CEO of Reliance Global Group, explained the decision:

“As we evaluated the rapidly evolving digital asset landscape, it became clear that Zcash’s privacy architecture and institutional flexibility align more closely with our vision than a diversified crypto portfolio.”

The move follows recent strong performance from ZEC, previously reported by CryptosNewss, which noted notable gains over the past three months.

Market Pressure Mounts Despite Institutional Vote of Confidence
While the DAT shift supports long-term sentiment, near-term pressure on ZEC remains visible.
Across major trading pairs—including BTC, ETH, SOL, and BNB—Zcash fell 13–18% over the week, signaling broader weakness.

Market metrics paint a cautious picture:

Open Interest remains near $695 million, showing traders haven’t exited aggressively.

Funding rates remain negative, indicating a persistent short bias.

No major leverage unwind is visible, suggesting controlled but bearish sentiment.

Technical Indicators Show Weak Momentum
At press time, ZEC trades around $496, extending its weekly decline beyond 20%.

Key indicators include:

Price broke below the 20-day EMA, showing weakening short-term momentum

50, 100, and 200-day EMAs sit far lower, keeping the long-term trend intact

RSI signals fading buying strength, not yet oversold

CMF shows negative capital flow, confirming rising sell pressure

ZEC spent the week consolidating under stress, but analysts note room for recovery if demand strengthens—especially with a major entity doubling down on long-term confidence.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions

Hiren Patel

Hiren is a SEO Expert and content writer with a passion for all things cryptocurrency. With two years of experience in the Crypto industry, He has a wealth of knowledge about blockchain technology and the crypto market. He is always on the lookout for new and exciting blockchain projects to work on and is dedicated to helping these projects succeed in the ever-evolving crypto landscape.

Bitcoin climbed above $90k as Asia opened to a risk-on mood fueled by Fed rate cut bets, light holiday trading and momentum from Wall Street tech gains.

XRP is finally finding its footing after a sharp and painful sell-off in November, yet the renewed wave of social media optimism—especially predictions of a quick return to the $3 region—does not reflect what the charts currently reveal. The recent rebound did produce a strong relief candle, with XRP bouncing cleanly off the lower boundary of its declining channel, but this movement signals stabilization rather than a full trend reversal.

For nearly two months, XRP has been trading inside a downward-sloping channel marked by persistent lower highs. Every rally attempt has been met with rejection near the 20-day and 50-day EMAs, highlighting the ongoing strength of sellers. The latest bounce lost momentum the moment it approached the channel’s mid-range, reinforcing that bearish pressure still dominates despite the short-term recovery.

Moving averages echo this caution. The 200-day EMA sits firmly overhead as a long-term resistance barrier, while the 50-day and 100-day EMAs continue trending downward. A market preparing for a decisive return toward $3 typically shows rising momentum, expanding volume and clear trend-reversal signals—conditions XRP simply does not meet at this stage.

Momentum indicators add further warning. Although the RSI has recovered from oversold territory, it remains below the key 50 level, suggesting the current move is corrective rather than the start of a strong bullish impulse. This profile is consistent with assets decompressing after heavy liquidations rather than initiating a sustained uptrend.

Still, XRP does have room to climb if buying interest continues. The technical structure leaves open a potential drift toward the $2.30–$2.40 range. But expecting an immediate surge to $3 is more emotional than analytical. The token has not reclaimed any major moving averages, remains confined within a declining channel and recently lost nearly 30% in value. Until these technical hurdles are cleared, optimism should be tempered with realistic expectations.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

Analysts said traders remain focused on macro signals, particularly on growing expectations for a December Fed rate cut.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin is struggling to find support as selling pressure accelerates and uncertainty spreads across the crypto market. After hitting its all-time high near $126,000 in early October, BTC has now lost more than 35% of its value, shaking investor confidence and fueling growing calls that the current bull cycle has ended. Market sentiment has shifted rapidly, with traders, analysts, and long-term participants reassessing expectations as price volatility intensifies and liquidity thins across major exchanges.

What makes the current phase even more concerning is the behavior of short-term holders, who historically act as the most reactive segment of the market. According to key data shared by On-Chain Mind, short-term holders are now locking in the biggest realized losses in Bitcoin’s entire history. This level of loss realization surpasses the capitulation seen during the China mining ban, the FTX collapse, and even the COVID crash, marking an extreme phase of market distress.

This unprecedented level of capitulation suggests that panic has taken control, with newer entrants exiting positions at steep losses. While some analysts argue that such events have historically preceded major reversals, others believe it signals the beginning of a prolonged downtrend. The coming days may determine which narrative takes hold.

Short-Term Holders Face Record Losses as Market Capitulates
On-Chain Mind reports that short-term holders are locking in more than $900 million in losses per day. This extreme level of loss realization reflects a phase of true capitulation.

Bitcoin STH Realized Loss | Source: On-Chain Mind
Short-term holders are historically the most sensitive to sharp price swings, and when they begin exiting at such magnitude, it often signals a breaking point in market sentiment. The data suggests that panic selling has reached levels never seen before, even when compared to major historical shock events.

During the COVID crash, the China mining ban, and the FTX implosion, realized losses spiked sharply, yet none of those events reached the current scale. This places the present correction in a category of its own and raises questions about the structural stability of the market over the coming weeks. Some analysts argue that this marks the definitive beginning of a bear cycle, where confidence erodes and capital rotates out of risk assets.

However, there remains a smaller group of optimistic voices who note that extreme capitulation has often preceded powerful recoveries. If Bitcoin stabilizes and buyers return, this could form a major macro bottom. The next move will likely define the market’s trajectory.

BTC Tests Weekly Support After Sharp Reversal
Bitcoin’s weekly chart shows a steep reversal from the all-time high near $126,000, with price now trading around $86,900 after a rapid decline. The drawdown has positioned BTC back toward the key 100-week moving average, which is currently sitting just above $83,000 and acting as an important structural support level.

BTC Testing Key Demand Level | Source: BTCUSDT chart on TradingView
Historically, this moving average has defined the boundary between bull-phase retracements and full macro trend breakdowns. A clean weekly close below it would strengthen the bear-market narrative that many analysts are now beginning to promote.

Despite the severity of the decline, price is beginning to stabilize, forming a small reaction wick suggesting early attempts at demand absorption around the $80,000–$85,000 zone. This region coincides with prior consolidation from early in the cycle, making it a logical area for buyers to defend.

However, momentum indicators remain pointed downward, and the distance from the 50-week moving average highlights the loss of trend strength.

For the bullish case to re-emerge, Bitcoin would need to reclaim the $95,000–$100,000 band, where broken support now acts as resistance. Until then, uncertainty remains elevated, and the weekly structure leans cautiously bearish.

Featured image from ChatGPT, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Sign Up for Our Newsletter!
For updates and exclusive offers enter your email.

Sebastian's journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies.
As his knowledge grew, Sebastian felt compelled to share his insights with others. He began actively contributing to online discussions on platforms like X and LinkedIn, focusing on fintech and crypto-related content. His goal was to expose valuable trends and insights to a wider audience, fostering a deeper understanding of the rapidly evolving crypto landscape. Sebastian's contributions quickly gained recognition, and he became a trusted voice in the online crypto community.
To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi). The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology.
Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K forms, or engaging in thought-provoking discussions about the future of finance.
Sebastian's journey as a crypto analyst and investor has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable asset to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and contributing to the growth of this revolutionary technology.

Journalist

Posted: November 27, 2025

Key Takeaways
Why did Plume rally?
The news that USDG0, the Paxos multi-chain stablecoin, would be deployed on the Plume network has enthused the bulls.

What are the next key levels?
The $0.03 and $0.0475 resistances need to be flipped to support quickly to keep the fizzling momentum going.

Plume posted a 39.55% rally in two hours on the 26th of November.

This price move came after Plume’s announcement that it has joined Hyperliquid [HYPE] and Aptos [APT] as part of the inaugural launch cohort for USDG0.

This is the multi-chain version of Paxos’ regulated stablecoin USDG. The deployment of the stablecoin on the Plume network reflected Paxos’ confidence in the network.

It has the institutional-grade infrastructure required to support the stablecoin, the announcement read.

Plume also has 280k+ active RWA users and $645 million in RWA total value locked (TVL). This was evidence for a fast-growing ecosystem. The Upbit listing announcement also aided this sentiment.

Plume: Bullish prospects shine, but not for long

Source: PLUME/USDT on TradingView

The 1-day chart showed that a significant horizontal resistance lay at $0.076. The recent rally nearly retested $0.0475, which had been a support level earlier in November but was ceded to the sellers.

The structure and trend on the 1-day chart were firmly bearish. A move past $0.058 is needed to shift the structure.

While Plume [PLUME] skyrocketed initially, this rally has not held up. In recent hours, a deep retracement of the quick price rally has occurred.

At the time of writing, PLUME was nearly at the $0.025 base that launched the rally.

Source: PLUME/USDT on TradingView

The 4-hour chart showed that the bulls have been extremely inconsistent. The short-term resistance at $0.028-$0.03 was not defended as support.

Nor was the $0.0475 level challenged, since the momentum reversed very quickly.

Therefore, even though the MFI showed buying pressure and upward momentum, traders and investors can remain bearishly biased.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

Akashnath S is a Senior Journalist and Technical Analysis expert at AMBCrypto. He specializes in dissecting price action, identifying key market trends through advanced chart patterns, and forecasting both short-term and long-term asset trajectories.
His distinct analytical method is grounded in his academic training as a Chemical Engineer. This background provides him with a systematic, process-oriented approach to market data, enabling him to analyze the complex dynamics of financial markets with precision and objectivity.
Having actively covered the cryptocurrency space since the landmark 2017 market cycle, Akashnath possesses years of experience navigating both bull and bear markets. This seasoned perspective is critical to his insightful reporting on market volatility and evolution.
As an active market participant, Akashnath enhances his analysis with crucial, hands-on experience. This practical application of his technical skills ensures his insights are not merely theoretical, but are also relevant and actionable for an audience looking to understand and navigate trading opportunities. He is dedicated to educating readers on the nuances of technical analysis, empowering them with the knowledge to make more informed financial decisions.

BitMine chair Tom Lee has seemingly eased off his widely promoted $250,000 year-end Bitcoin forecast, now only giving it a “maybe” that Bitcoin can reclaim its October all-time high of $125,100 before the end of the year.

“I think it’s still very likely that Bitcoin is going to be above $100,000 before year-end, and maybe even to a new high,” Lee said during an interview with CNBC on Wednesday.

This appears to be the first time Lee has publicly softened his $250,000 year-end Bitcoin (BTC) price target, which he initially floated earlier in 2024 and continued to reiterate through early October. 

Lee’s prediction was one of the more bullish. Other crypto executives, including Galaxy Digital CEO Mike Novogratz, warned around October that “crazy stuff” would need to happen for Bitcoin to reach that level.

Bitcoin is down 1.85% over the past 12 months. Source: CoinMarketCapThat being said, Lee said some of Bitcoin's strongest days may still lie ahead before the end of 2025.

“I still think some of those best days are going to happen before year-end,” he said, with 35 days remaining until the end of 2025. 

Bitcoin holders will need to keep guessing, says exec Lee pointed out Bitcoin’s tendency to make the majority of its gains over a small number of trading sessions each year, noting that the asset typically “makes its move” in just 10 days annually.

The idea is widely shared among industry executives. Bitwise CEO Hunter Horsley said in a February 2024 X post that while investors cannot predict when those days will be, missing Bitcoin’s best 10 days historically means missing nearly all of its returns.

Source: PlanCIn 2024, Bitcoin’s strongest 10 days delivered a combined return of 52%, while the remaining 355 days generated an average return of -15%.

Bitcoin has been in a downtrend since Oct. 10, pressured by a $19 billion liquidation across the crypto market that followed US President Donald Trump’s announcement of a 100% tariff on Chinese goods. 

It only reclaimed the $90,000 level on Wednesday after spending six consecutive days below it.

This is despite November historically being the strongest month on average for Bitcoin since 2013, according to CoinGlass. 

Meanwhile, economist Timothy Peterson said on Monday that Bitcoin’s bottom may already be in, or will occur this week.

Lee has been hit and miss with his Bitcoin predictionsIf Bitcoin fails to hit Lee’s prediction, it would not be the first time one of Lee’s Bitcoin forecasts has fallen short. 

In January 2018, Lee said that Bitcoin could reach as high as $125,000 by 2022. The all-time high in 2018 ended up being $17,172.

However, Lee has also made accurate price calls too.  

In July 2017, Lee projected that in a base-case scenario, Bitcoin could reach $20,000 by 2022, while a more bullish outlook could see a potential price as high as $55,000 over the same period.

Bitcoin ended up reaching $20,000 in December 2020 and $55,000 in March 2021, according to CoinMarketCap.

Magazine: Getting scammed for 100 Bitcoin led Sunny Lu to create VeChain

Terrill Dicki
Nov 27, 2025 02:11

Ethereum's ENS has selected Taiko's stack for its Namechain rollup, aiming for decentralized naming services with enhanced scalability and security.

The Ethereum Name Service (ENS), a key player in the blockchain naming protocol domain, has announced its decision to partner with Taiko for the development of Namechain, a new zero-knowledge (ZK) rollup. This move aims to enhance decentralized naming services by leveraging Taiko's innovative stack, according to Paragraph.

Taiko's Role in Namechain Development Taiko's stack has been selected as the foundation for ENS's Namechain, which will be deployed as a rollup using Surge, the framework developed by Nethermind. This collaboration marks a significant step for ENS, allowing it to bypass the traditional progressive decentralization process and launch Namechain as a fully decentralized rollup from the outset. The technology promises enhanced scalability and performance without sacrificing decentralization.

Technological Advancements Since its mainnet launch in May 2024, Taiko has processed over 50 million transactions with zero downtime, showcasing its efficiency in handling large-scale operations. The system offers sub-second preconfirmations and enables Ethereum validators to sequence Layer 2 (L2) blocks efficiently. This infrastructure is critical for ensuring that Namechain can deliver near-instant name resolution across chains with cryptographic security guarantees.

The adoption of Taiko's technology allows Namechain to overcome traditional L2 challenges, which often require a compromise between decentralization and performance. By employing preconfirmation technology, Namechain can deliver state updates in seconds, addressing a longstanding bottleneck in ENS operations.

Strategic Collaboration The integration of Taiko's stack into Namechain represents a significant milestone in the evolution of Ethereum infrastructure. It sets a new standard for decentralized applications, demonstrating the feasibility of achieving high performance without centralization. This deployment also serves as a reference implementation for other teams considering rollup frameworks, highlighting the practical benefits of Taiko's technology in real-world applications.

As Namechain progresses through internal testing towards its public testnet in Q2 2026 and eventual mainnet launch, it will further validate Taiko's approach to decentralized scalability. The collaboration between ENS, Taiko, and Nethermind exemplifies how open-source infrastructure can support mission-critical applications without vendor lock-in.

Image source: Shutterstock

ethereum
ens
blockchain

Renewed bets on a December Fed rate cut added to the bullish sentiment, sending Bitcoin (BTC) above $90,000. While XRP briefly decoupled from BTC this week, Bitcoin remains the market barometer for now, driving broader market sentiment.

XRP-Spot ETFs and First-To-Market Advantage
On Tuesday, November 25, XRP-spot ETFs reported net inflows of $35.41 million, down sharply from $164.04 million of inflows the previous day. Nevertheless, XRP-spot ETF issuers registered net inflows of $622.11 million since launch.

However, inflows into the Franklin XRP ETF (XRPZ) have yet to reflect Franklin Templeton’s prominence in the ETF space, leaving demand short of market expectations. The 19th largest ETF issuer by assets under management has reported net inflows of $69.72 million into XRPZ.

Notably, XRPZ trails the Canary XRP ETF (XRPC), which has accumulated net inflows of $329.39 million since launching on November 14. XRPC saw net inflows of $243.05 million on day one, highlighting the first-to-market advantage.

According to VettaFi, Canary Capital ranks #153 on the ETF issuer Assets Under Management (AUM) league table, with $349.25 million in AUM. Notably, the ETF issuer has climbed from #238 since launching XRPC.

Inflow trends for Wednesday, November 26, are likely to be pivotal for XRP and rising expectations of a decoupling from BTC. Bitcoin outperformed XRP on Wednesday, November 26, after net inflows of $128.7 million into BTC-spot ETFs on Tuesday, November 25, which surpassed demand for XRP-spot ETFs.

Market intelligence platform Santiment commented on current crypto market conditions, stating:

“Despite a decent rebound to start the week, crypto markets still show significant short and mid-term losses among average wallet investments. According to network data, average returns of wallets active in the past 30 days are: BTC: -6.1% (mild undervaluation); XRP: -4.7% (very slight undervaluation).”

BTC’s greater undervaluation is likely to have narrowed after Wednesday’s stronger gains, leaving flows into spot ETFs to dictate near-term price trends.

US Jobs Data Leaves December Fed Rate Cut Bets Intact
While demand for spot ETFs remains crucial, US economic data and market sentiment toward a December Fed rate cut continued to influence price trends.

US jobs data pointed to a resilient labor market on Wednesday, November 26. Initial jobless claims dropped from 222k (week ending November 15) to 216k (week ending November 22). Typically, tighter labor market conditions support a more hawkish Fed rate path. However, the weekly data failed to impact market bets on the Fed lowering interest rates next month.

According to the CME FedWatch Tool, the probability of a December cut slipped from 85.2% on November 25 to 84.7% on November 26. For context, the chances of a December rate cut stood at 91.7% on October 24 before plunging to just 30.1% on November 19.

XRP’s recent price action suggested traders were more concerned about the Fed’s policy stance than demand for spot ETFs. Nevertheless, traders’ focus will likely return to the supply-demand trajectory given that markets are now widely expecting the Fed to ease policy.

Vaneck's bold push toward a groundbreaking BNB ETF signals a powerful new wave of institutional momentum, aiming to channel surging demand for regulated crypto exposure into a Nasdaq-listed product built for scale and liquidity. Vaneck Advances BNB ETF Toward Nasdaq Listing Vaneck Digital Assets filed with the U.S. Securities and Exchange Commission (SEC) on Nov.

Bitcoin's recent price drop has sent shockwaves through the market as investors assess whether the worst of the downturn has passed or more selling pressure lies ahead. Despite a partial recovery from recent lows, on-chain data shows that the correction may not yet be over.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The market downturn has hit Solana hard as a majority of its supply is now underwater. Here’s how Bitcoin, XRP, and Ethereum compare.

Bitcoin, XRP, And Ethereum Are Currently Far Below Solana In Loss Supply
In a new post on X, on-chain analytics firm Glassnode has talked about how some of the top assets in the cryptocurrency sector compare in terms of the Percent Supply in Loss. This indicator measures, as its name suggests, the percentage of a given asset’s circulating supply that’s currently being held at a loss.

The metric works by going through the transaction history of each coin in circulation to see what price it was last moved at. If the last transfer price was more than the current spot price for any token, then that particular token is considered to be in a state of net unrealized loss.

The Percent Supply in Loss adds up all coins of this type and determines what part of the supply they make up. Like this indicator, there also exists the Percent Supply in Profit, which tracks the supply of the opposite type. Since the total supply should add up to 100%, only one of these metrics needs to be known; the other can simply be found by subtracting it from 100.

Now, here is the chart shared by Glassnode that shows how the Percent Supply in Profit has changed for Bitcoin, XRP, Ethereum, and Solana over the last few months:

Looks like the metric has plunged across the top coins in recent weeks | Source: Glassnode on X
As displayed in the above graph, the Percent Supply in Profit has plummeted for all of these cryptocurrencies recently. In other words, the Percent Supply in Loss has shot up. This shift in investor profitability has come as a result of the bearish momentum that the various assets have faced. It’s visible in the chart, however, that the change hasn’t been proportionate for all of the coins.

While XRP, Ethereum, and Bitcoin have shown similar trajectories, Solana has broken away with a much steeper decline in the indicator. Today, the Percent Supply in Profit is sitting at a value of 25.16%. This means that almost 75% of the cryptocurrency’s supply is underwater now.

In contrast, the Percent Supply in Loss remains at 34.91%, 38.37%, and 36.70% for Bitcoin, Ethereum, and XRP, respectively. Thus, despite the market downturn, a majority of the supply is still in the green for the three largest coins in the sector (excluding stablecoins).

Typically, a high value on the Percent Supply in Loss corresponds to market conditions where not many profit-sellers are left anymore. Considering this, Solana having most of its supply underwater could, in theory, imply that it’s closer to seller exhaustion than Bitcoin and company.

SOL Price
Solana has shown some recovery over the past few days as its price has climbed back to the $137 level.

The trend in the price of the coin over the last five days | Source: SOLUSDT on TradingView
Featured image from Dall-E, Glassnode.com, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Leading cryptocurrencies rallied alongside stocks on Wednesday, as investors shifted to risk-taking ahead of Thanksgiving festivities.

CryptocurrencyGains +/-Price (Recorded at 8:15 p.m. ET)Bitcoin (CRYPTO: BTC)+3.71%$90,739.79Ethereum (CRYPTO: ETH)
               +2.90%$3,036.45XRP (CRYPTO: XRP)                         +1.42%$2.22Solana (CRYPTO: SOL)                         +2.92%$142.92Dogecoin (CRYPTO: DOGE)                         +1.58%$0.1548Festive Rally ContinuesBitcoin surged to an intraday high of $90,819, continuing its strong Thanksgiving week rebound.

Ethereum broke through the $3,000 barrier after a week, although trading activity for the second-largest cryptocurrency remained thin. XRP and Dogecoin gained 1.42% and 1.58%, respectively, in the last 24 hours.

Bitcoin's dominance dipped below 58%, while Ethereum's market share fell to 11.8%.

Shares of Bitcoin treasury company Strategy Inc. (NASDAQ:MSTR) lifted 2% during the regular trading session.

Benzinga Edge delivers real-time stock alerts, trade ideas, and professional investing tools to help you navigate the market. Find out more about MSTR here.

Cryptocurrency liquidations reached $270 million in the last 24 hours, according to Coinglass, with $192 in bearish shorts wiped out.

Bitcoin's open interest increased by 2.38% to $61 billion in the last 24 hours. More than 67% of Binance top traders, i.e, the top 20% users with the highest margin balance, were positioned long on the leading cryptocurrency.

That said, the “Extreme Fear” sentiment persisted in the market, according to the Crypto Fear & Greed Index.

Top Gainers (24 Hours) 

Cryptocurrency (Market Cap>$100 M)Gains +/-Price (Recorded at 8:15 p.m. ET)Merlin Chain (MERL )   +144.55%$0.5261Brett (Based) (BRETT)    
               +20.13%$0.01919Dash (DASH )          +19.72%$69.59The global cryptocurrency market capitalization stood at $3.1 trillion, growing by 2.58% in the last 24 hours.

Stocks Extend Winning RunThe stock market extended its winning streak on Wednesday. The Dow Jones Industrial Average rallied 314.67 points, or 0.67%, to end at 47,427.12. The S&P 500 gained 0.69% to settle at 6,812.61, while the tech-focused Nasdaq Composite rose 0.82% to close at 23,214.69.

Fresh labor market data boosted sentiment, as initial jobless claims for the week ending Nov. 22 fell to 216,000 from 222,000, beating expectations of 225,000. 

Expectations for a December rate cut remained high, with traders pricing in a 84% possibility of 25 basis point cut decrease, according to the CME FedWatch tool. 

The New York Stock Exchange and the Nasdaq will be closed Thursday for Thanksgiving.

Was BTC’s Recent Low A Bottom?Widely followed cryptocurrency analyst and trader Ali Martinez highlighted that The Puell Multiple, a metric tracking Bitcoin miners’ daily revenue against its yearly average, currently stood at 0.67.

Historically, when the indicator has dropped below 0.50, it has marked Bitcoin cycle bottoms, Martinez added.

Michaël van de Poppe, another well-known cryptocurrency market commentator, stated that BTC is at a crucial level and a break above $92,000 by month-end could confirm the recent low below $80,000 as a cycle bottom.

Photo Courtesy: Marc Bruxelle on Shutterstock.com

Read Next:    

Tom Lee’s Shock Call Meets BitMine’s Supply Squeeze — Is ETH Set To Ignite?
Market News and Data brought to you by Benzinga APIs

© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Securitize has received full approval from the European Union to operate a regulated tokenized trading and settlement system.

Summary

Securitize received EU-wide approval on Nov. 26 to operate a tokenized trading and settlement system under the DLT Pilot Regime.
The licensed platform will run on Avalanche and connect directly with Securitize’s U.S. infrastructure.
First regulated tokenized issuances are planned for early 2026 as institutional activity on Avalanche accelerates.

The company is now among the first firms permitted to operate a blockchain-based market infrastructure under the EU’s DLT Pilot Regime. 

The authorization, issued by Spain’s CNMV on Nov. 26, gives the company permission to operate across all 27 member states and marks a new stage for regulated tokenized assets in Europe.

EU creates a regulated path for tokenized securities
The approval allows Securitize to operate an integrated environment in which tokenized equities, bonds, and other instruments can be traded and settled on-chain. 

The system combines trading and settlement under a single DLT-based structure. To test distributed ledger infrastructure in the real world without interfering with the larger regulatory framework, the firm may ask for limited exemptions from specific market regulations under the pilot program.

Securitize is now the only company in the U.S. and the EU with a regulated tokenized securities platform thanks to this license. The company plans to establish a controlled channel between the two financial regions by directly connecting its European system with its current U.S. infrastructure. 

On-chain funds and conventional securities will make up the first product set to be issued under this new framework in early 2026.

Avalanche chosen for regulated tokenization layer
Securitize will run the EU system on Avalanche (AVAX), selecting the network for its low latency and ability to support custom execution logic that fits regulated markets.

Avalanche has seen rising use in tokenized products this year, driven by stronger participation from major asset managers and a sharp increase in on-chain fund activity. BlackRock added $500 million in tokenized money-market assets to the network in October. 

Securitize’s approval adds a regulated entry point to this activity and gives institutions a channel to issue, trade, and settle tokenized instruments inside a controlled legal framework.

It also positions Avalanche as a key technical partner for the EU’s first licensed blockchain-based market system, setting up early 2026 as a turning point for tokenized financial assets in Europe.

Bitwise's launch of a dedicated dogecoin ETF signals an aggressive new wave of mainstream memecoin adoption, positioning DOGE for potentially explosive inflows as traditional investors gain an easy, regulated path into one of crypto's most resilient assets. Bitwise Rolls out Dogecoin ETF on NYSE Bitwise Asset Management announced on Nov.

Large holder deposits have hit exchanges and realized losses are climbing, according to CryptoQuant and Glassnode, indicating the market's rally is being built on thin liquidity.

A new set of stablecoin transfers has pushed Pump.fun back into the spotlight as questions over its recent activity resurface.

Summary

Pump.fun sent another $75M USDC to Kraken, bringing total transfers since Nov. 15 to $480M.
The team denies cashing out, saying the movements are part of treasury management using USDC raised from its ICO.
PUMP trades at $0.00294, down 38% over the month, with analysts expecting further weakness.

Pump.fun moved another $75 million in USDC to Kraken on Nov. 27, a shift that has revived questions about the project’s recent stablecoin activity. 

According to an analysis shared by EmberCN, the team has now deposited roughly $480 million to the exchange over the past 12 days, all sourced from its initial coin offering proceeds.

Fresh transfers spark speculations
The latest transaction looked similar to another flow that drew attention earlier this week. Shortly after the $75 million deposit hit Kraken, about $69.26 million USDC moved from the exchange to Circle, the issuer of USDC. 

That sequence mirrored a pattern reported by crypto.news on Nov. 24, when $405 million reached Kraken and roughly $466 million left for Circle soon after. Analysts say this type of movement often aligns with USDC redemptions, which is why observers immediately flagged it.

Pump.fun’s (PUMP) co-founder Sapijiju previously denied cash-out allegations.  He said the transfers were part of routine treasury management and not an attempt to withdraw funds. He stressed that the company has never worked directly with Circle and said none of the flows represented a cash-out. 

Instead, he noted that the USDC raised from the ICO was being redistributed across wallets to support operations and future developments.

Controversy around token allocations
The latest dispute is part of a string of controversies surrounding Pump.fun, which has already faced criticism over its token structure. Its private round allocated 18% of PUMP’s one-trillion supply to investors at $0.004, raising an estimated $720 million. 

Analysts later pointed out that insiders and early buyers held more than half of the supply when trading went live, something community members said distorted market conditions at launch.

The project’s revenue model added another layer, especially due to the low success rate of tokens created on the platform. Pump.fun has made over $910 million in revenue since its launch, according to Dune Analytics data, despite a recent slowdown.

Concerns about side wallet sales, insider holdings, and the ongoing debate over whether buyback expectations are being undermined by treasury flows appear to be some of the causes of the market slowdown.

Legal pressure and market reaction
Pump.fun is also facing class-action lawsuits in New York, alleging unregistered token sales and misleading statements regarding potential profits. This increased scrutiny has weighed on market sentiment, with PUMP trading at $0.00294 at press time, down 38% for the month.

Coincodex analysts predict further weakness through December due to high volatility and an Extreme Fear score of 15 on the Fear & Greed Index. 

SummaryRithm Capital is executing a strategic transformation from a mortgage REIT to an alternative asset manager to unlock higher valuation.Recent acquisitions of Crestline Management and Paramount Group, along with new fund launches, are rapidly scaling RITM's asset management segment.A multi-year roadmap envisions integrating acquisitions, launching new REITs, and ultimately separating the mortgage origination and servicing business.By 2027, RITM aims to convert to a C-Corp AAM, offering patient shareholders potential value creation and upside despite a likely dividend cut. RapidEye/iStock via Getty Images

Rithm Capital Corp. (RITM) ("Rithm" or "the Company") has generated lots of buzz in the mortgage REIT ("mREIT") universe for its ambitious plan to transition into an alternative asset manager ("AAM"). Many investors have been patiently (or not so patiently) waiting for the

Analyst’s Disclosure:I/we have a beneficial long position in the shares of RITM either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

I am long shares of RITM in a self-directed IRA. I have no other positions in any other stocks mentioned and no plans to initiate any such positions within the next 72 hours.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You