Market Signal Briefing

Franklin Templeton’s highly anticipated spot XRP exchange-traded fund is officially set to debut today after receiving NYSE Arca approval last week. The crypto community is buzzing, especially after analyst Chad Steingraber predicted a strong first-day performance. According to Steingraber, the Franklin Templeton XRP ETF could generate around 15 million XRP in trading volume at launch—equivalent to roughly $30 million. He even suggested that activity could climb as high as 50 million XRP once trading begins.

Steingraber emphasized that Franklin Templeton typically takes a careful, measured approach when rolling out new investment products. Because of that, he believes the biggest growth will come gradually as financial advisors begin recommending the ETF after it establishes a track record. He also highlighted that the fund will launch with a relatively small initial seed investment, meaning most of today’s activity is expected to come from new investor inflows rather than internal trading.

Listed as the Franklin XRP Trust under the ticker XRPZ, the ETF carries a sponsor fee of 0.19% of NAV. Franklin Templeton plans to waive this fee for the first $5 billion in assets until May 2026, making it a competitive option for investors seeking exposure to the XRP ecosystem. The approval follows the firm’s S-1 amendment submitted on November 4, which kicked off the mandatory 20-day countdown to launch.

The new fund enters a growing XRP ETF market, joining Bitwise and Canary Capital, whose products have already accumulated more than $422 million in net inflows over the past six days, according to SoSoValue.

Market sentiment surrounding XRP has also strengthened. Analysts at Forbes recently projected that XRP could reach $5.25 by 2030, while Egrag Crypto noted that XRP continues to hold key monthly support levels despite recent volatility. Additionally, a Ripple developer revealed that staking features could eventually be added to the XRP Ledger, enhancing its utility for tokenization and payments.

With Bitcoin recovering above $85,000 and broader crypto markets turning green, today’s ETF launch could provide another boost to XRP’s growing momentum.

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TLDR

NYSE Arca approved Grayscale’s Dogecoin (GDOG) and XRP (GXRP) ETFs for trading starting Monday, November 24
ETF analyst Eric Balchunas expects GDOG to see around $11 million in first-day trading volume
Grayscale’s Chainlink ETF is expected to launch approximately one week later
The GXRP ETF will compete with products from Franklin Templeton and WisdomTree
XRP has dropped 18% since early November despite multiple ETF launches this month

The New York Stock Exchange has approved two new cryptocurrency ETFs from Grayscale. The Dogecoin ETF (GDOG) and XRP ETF (GXRP) are scheduled to begin trading on Monday.

NYSE Arca filed certifications with the Securities and Exchange Commission on November 21. The filings confirmed approval for listing and registration of both products.

Bloomberg ETF analyst Eric Balchunas announced the approvals on Sunday. He expects the Dogecoin ETF to generate approximately $11 million in trading volume on its first day.

The Grayscale Dogecoin ETF converts an existing trust into an exchange-traded fund. The product tracks the spot price of DOGE.

Grayscale’s XRP ETF will launch alongside a competing product from Franklin Templeton. WisdomTree also has an XRP ETF awaiting launch.

XRP ETF Market Grows Crowded
Canary Capital launched the first spot XRP ETF in the US on November 13. The fund attracted over $250 million in inflows during its first trading day.

Bitwise, 21Shares, and CoinShares have also launched XRP ETFs this month. The wave of products followed the end of the US government shutdown.

The SEC has loosened its review process for crypto ETFs. This change has accelerated approvals for multiple cryptocurrency products.

XRP has fallen approximately 18% since the start of November. The decline occurred despite the launch of multiple XRP ETFs.

Balchunas stated that Grayscale’s Chainlink ETF would likely follow next week. The product is expected to launch within seven days of the GDOG and GXRP debuts.

Recent Altcoin ETF Performance
Several altcoin ETFs have launched in recent weeks. Products tied to Solana, Litecoin, and HBAR have entered the market.

Bitwise’s Solana ETF posted nearly $70 million in net inflows on launch day. Canary’s XRP ETF recorded over $250 million in first-day trading.

The broader crypto market has experienced recent declines. Bitcoin has fallen below multi-month lows and given back earlier gains.

ETF funds from Grayscale and BlackRock have led recent outflows. Investors appear to be taking year-end profits and reducing risk exposure.

The Grayscale XRP ETF holds actual XRP in custody. The Dogecoin ETF operates the same way with DOGE holdings.

Both products offer regulated access to cryptocurrencies. Investors can gain exposure without directly holding the digital assets.

The SEC’s updated approval process has removed previous procedural delays. This change has enabled faster launches for cryptocurrency ETF products.

XRP Eyes $2.03 as Potential Final Low, Setting Stage for Wave 3 SurgeAccording to renowned market analyst CasiTrades, XRP could be nearing the end of its wave 2 correction, with $2.03 emerging as a potential final low. 

Source: CasiTradesThe analyst highlights that the ongoing price chop is playing a critical role in maintaining a bullish RSI divergence, a technical signal that often precedes strong upward movements.

CasiTrades emphasizes that if XRP touches $2.03 concurrently with Bitcoin testing its $88,000 support level, the market alignment, or confluence, becomes particularly significant. 

Such synchronization between XRP and Bitcoin would not only reinforce the likelihood of a macro bottom but also create ideal conditions for the launch of a new macro Wave 3. Presently, XRP and Bitcoin are trading at $2.05 and $85,922, respectively. 

What does this mean? Well the next wave could potentially propel XRP toward new all-time highs above the present one of $3.65, according to CasiTrades analysis.

Wave theory is key to this outlook. Wave 2 corrections often retrace the initial surge before a stronger Wave 3 push. In this context, $2.03 isn’t just support, it’s a strategic pivot where long-term buyers may enter to maximize risk-to-reward potential.

Furthermore, Technical indicators support this scenario. The RSI shows bullish divergence, signaling weakening downward pressure and a potential market reversal. According to CasiTrades, XRP’s ongoing price “chop” is sustaining this divergence, boosting the likelihood that $2.03 could mark the final low.

The XRP-Bitcoin correlation remains pivotal. A strong rebound of Bitcoin from $88,000 could trigger XRP’s next major upward wave, potentially setting the stage for Wave 3 and record-breaking gains.

CasiTrades’ analysis highlights $2.03 as a potential floor for XRP’s current correction, offering a high-probability entry point for traders tracking wave patterns and technical indicators.

Ripple Moves Massive 102 Million XRP to Dormant Wallet, Sparking Market BuzzIn a striking move that has caught the attention of traders and crypto enthusiasts, Ripple has transferred an astonishing 102 million XRP, worth over $202 million, to an unknown wallet, according to renowned market analyst Xaif Crypto. 

Source: Xaif CryptoThe sheer scale of the transaction has set off speculation across social media and trading forums, highlighting the ongoing influence of large holders in the XRP ecosystem.

What makes this transaction particularly intriguing is the history of the receiving wallet. Activated four years ago, the wallet originally held a modest 6,000 XRP. For years, it remained largely inactive, drawing little attention from the market. 

But now, with a sudden influx of 102 million XRP, it has transformed into a whale-sized holding, prompting questions about the intentions behind such a move.

Massive transfers like this often signal strategic moves by institutions or high-net-worth investors. While the intent is unclear, such activity can indicate accumulation, future trading plans, or the lead-up to major market events. Historically, reactivated dormant wallets with large sums have preceded notable price swings, fueling speculation and volatility.

Xaif Crypto emphasizes that massive XRP movements reflect the growing influence of whales on market sentiment. Such transactions signal strategic shifts that affect supply, liquidity, and price dynamics, making these wallets key indicators for Ripple’s next moves.

Notably, moving 102 million XRP is a powerful signal. It underscores Ripple’s strong institutional involvement and highlights how whale activity can sway market sentiment. For traders watching blockchain flows, this transaction is a stark reminder of the scale, influence, and unpredictability of the crypto market.

ConclusionXRP’s $2.03 level could mark a critical turning point. If it coincides with Bitcoin holding $88,000 support, the setup for a macro bottom becomes strong, potentially igniting the long-awaited Wave 3 surge. 

Meanwhile, the transfer of 102 million XRP highlights the immense influence of whales in the crypto market. While the wallet’s intentions remain unknown, such moves emphasize the need to track dormant wallets and blockchain activity, offering traders and investors key insights into potential XRP price shifts and the unpredictable dynamics of the crypto ecosystem.

Robbie Mitchnick, BlackRock’s head of digital assets, explained that most of the firm’s clients are not thinking about using Bitcoin

BTC

$86,782.52

for everyday payments when they invest in it.

Mitchnick said during a podcast on YouTube, "I think for us, and most of our clients today, they’re not really underwriting to that global payment network case. That’s sort of maybe out-of-the-money-option-value upside".

He did not rule out the possibility that Bitcoin could one day be widely used for payments, but he said that possibility remains uncertain. For now, investors are more focused on Bitcoin’s role as "digital gold".

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He also stated in the podcast:

There’s a lot that needs to happen in terms of Bitcoin scaling, Lightning, and otherwise to make that possible.

In August 2024, Galaxy Research raised doubts about the long-term sustainability of Bitcoin’s Layer-2 scaling networks, especially "rollups".

Mitchnick contrasted this with the progress of stablecoins, which he said have already proven successful for payments.

He explained that stablecoins could be used in many more areas. At present, they are mainly used in cryptocurrency trading and decentralized finance (DeFi).

However, he said they could also be used for everyday money transfers, business payments between companies, international transactions, and settling financial trades.

While he noted that Bitcoin might find some use in smaller-scale payment applications, such as remittances, he sees that as a longer-term, uncertain development.

Experts stated that Bitcoin's price drop is not tied to the US government shutdown or the hype around artificial intelligence (AI). What did they say? Read the full story.

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.

With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.

Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.

Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

SummaryCompaniesChina's bitcoin mining market share rebounds to 3rd globally, Hashrate Index showsBeijing’s softening stance, cheap electricity attract crypto minersBitcoin seen as strategic asset amid Sino-US rivalry, analyst saysNov 24 (Reuters) - Bitcoin mining is quietly staging a comeback in China despite being banned four years ago, as individual and corporate miners exploit cheap electricity and a data center boom in some energy-rich provinces, according to miners and industry data.

China had been the world's biggest crypto mining country until Beijing banned all cryptocurrency trading and mining in 2021, citing threats to the country's financial stability and energy conservation.

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After having seen its global bitcoin mining market share slump to zero as a result of the ban, China crept back to third place with a 14% share at the end of October, according to Hashrate Index, which tracks bitcoin mining activities.

The resurgence in bitcoin mining, which has also been corroborated by rig maker Canaan Inc’s

(CAN.O), opens new tab fast-rebounding sales in China, could act as a demand and price support for the world’s largest cryptocurrency.

Wang, a private miner in Xinjiang, said he started mining late last year in the energy-abundant province.

"A lot of energy cannot be transmitted out of Xinjiang, so you consume it in the form of crypto mining," Wang said, asking to be identified by just his last name. "New mining projects are under construction. What I can say is that people mine where electricity is cheap."

China’s state planning body, the National Development and Reform Commission, which issued the ban in 2021, and the Xinjiang government did not reply to faxed Reuters requests for comment.

MINING RESURGENCEBeijing's crackdown on the sector in 2021 led to miners shutting down local operations and  fleeing to overseas markets such as North America and Central Asia.

The rebound in bitcoin mining coincides with the digital asset hitting record highs in October on the back of U.S. President Donald Trump’s pro-crypto policies, and growing distrust toward the dollar, making crypto mining more rewarding.

The cryptocurrency, however, is down roughly a third from its October peak as global risk appetite wanes.

“Chinese policy flexibility emerges when economic incentives are strong in specific regions,” said Patrick Gruhn, CEO of Perpetuals.com, a provider of crypto market infrastructure. "The resurgence of mining activity in China is one of the most important signals the market has seen in years.”

China has not officially relaxed bitcoin mining curbs, but "even hints of China's policy easing could act as a tailwind for bitcoin's narrative as a global, state-resilient asset," he said, pointing to industry data signaling renewed activity.

Bitcoin mining - the energy-intensive process of using specialised computers to solve complex puzzles to win bitcoins - is especially active in  power-abundant hinterlands such as Xinjiang, according to miners and rig makers.

Sichuan-based Duke Huang, who quit bitcoin mining a few years ago due to the Chinese regulatory ban, said some of his friends have come back to the business recently. "It's a sensitive area ... But people who get cheap electricity are still mining."

Besides higher bitcoin prices, a glut of electricity and computing power following over-investment in data centers by some cash-strapped Chinese local governments fuelled the rebound, said a source at a bitcoin mining rig maker, who did not want to be identified due to the sensitivity involved.

CRYPTO POLICY The trend is also captured by sales data from mining rig makers. 

Canaan, the world's second-biggest bitcoin mining machine maker, generated 30.3% of its global revenues in China last year, compared with 2.8% in 2022 in the aftermath of the crackdown, according to company filings.

China's contribution to Canaan's sales jumped further to more than 50% during the second quarter this year, according to a source with direct knowledge, who declined to be named as he is not authorised to speak to the media.

Canaan, which did not confirm the second-quarter sales breakdown, attributed its growing sales in China to this year’s U.S. tariff uncertainty that disrupted U.S. sales, rising bitcoin prices that make mining more profitable, and a subtle shift in China’s digital asset posture.

In an emailed statement, the Singapore-based company said its activities remain fully compliant with Chinese regulations but refused to comment on mining policies in China.

“In China, the R&D, manufacturing, and sale of mining machines are permitted,” Canaan said.

The pickup in bitcoin mining in China comes amid signs that Beijing has softened its attitude toward digital coins. These were once seen as a challenge to China's fiat currencies and abetting capital flight.

Hong Kong's stablecoin bill, for example, took effect in August, enabling the Chinese city to compete with the U.S. in fostering a regulated market for fiat-currency-backed cryptocurrencies.

China was also considering allowing the use of yuan-backed stablecoins to boost the wider adoption of its currency globally and catch up with a U.S. push on stablecoins, Reuters reported in August, citing sources familiar with the matter.

"Bitcoin mining is still officially banned in China. However, there continues to be significant capacity operating," said Julio Moreno, head of research at CryptoQuant, a blockchain data & analytics firm. 

CryptoQuant estimated that 15%-20% of global bitcoin mining capacity currently operates in China.

Liu Honglin, founder of Man Kun Law Firm, said it is hard to wipe out a profitable business.

"I personally think government policies against mining will be gradually loosened, because you simply cannot stop such activities completely."

Reporting by Reuters staff; Editing by Muralikumar Anantharaman

Our Standards: The Thomson Reuters Trust Principles., opens new tab

XRP and DOGE ETFs debut on NYSE Arca, boosting institutional altcoin access.Monad mainnet launches with major token unlock shaping early price discovery.MegaETH bridge, Solv–Solana integration, and Arbitrum event drive ecosystem momentum.This week in crypto, several altcoins may be primed for significant moves, catalyzed by ecosystem-specific developments.

The packed schedule could significantly influence investor sentiment and project momentum across the altcoin sector, as each event may affect protocol growth and token performance.

Grayscale XRP ETF Launch The Grayscale XRP Trust ETF begins trading on NYSE Arca on November 24. The financial instrument gives investors direct exposure to XRP through conventional brokerage accounts.

Learn more about $GXRP and see important disclosures: https://t.co/FvmKk9XnOC

–

Grayscale XRP Trust ETF ("GXRP" or the "Fund"), an exchange traded product, is not registered under the Investment Company Act of 1940 ("40 Act") and therefore is not subject to the same…

— Grayscale (@Grayscale) November 24, 2025
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The fund holds 6,017,179.9823 XRP, with each share representing 19.40 XRP at a net asset value (NAV) of $37.64 as of November 21.

GXRP features a 0% management fee for the first three months or until assets reach $1 billion, after which the fee is 0.35%.

Coinbase Custody Trust Company is the digital asset custodian, with the XRP Trust managinghaving $11,673,329 in assets and has 310,100 shares outstanding.

GXRP will be available through brokerages such as Interactive Brokers, E-Trade, Charles Schwab, Fidelity, Robinhood, and TD Ameritrade.

XRP Price Performance. Source: BeInCryptoEven in the face of this news, Ripple’s powering token, XRP, was up only by a modest 1.35% in the last 24 hours.

Meanwhile, Grayscale’s XRP ETF comes after Canary Capital and Bitwise Invests already ventured into this market, launching their investment products.

Grayscale DOGE ETF DebutThe Grayscale Dogecoin Trust ETF also debuts on NYSE Arca today. GDOG offers regulated Dogecoin exposure, holding 11,136,681.421 DOGE and 117.60 DOGE per share.

The ETF manages $1,546,094 in assets, with 94,700 shares outstanding and a NAV per share of $16.33. The fee structure matches GXRP, with a 0% management fee for the first three months or up to $1 billion in assets.

ETF analyst Nate Geraci highlighted the symbolic importance, noting that the product is the first Dogecoin ETF launched under the ’33 Act. The President of the ETF Store sees it as evidence of a major regulatory shift in crypto this year.

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Launching tomorrow…

Grayscale Dogecoin ETF.

First ‘33 Act doge ETF.

Some (many) might laugh, but I actually view this as a highly symbolic launch.

IMO, best example of *monumental* crypto regulatory shift over past yr.

Btw, GDOG might already be top 10 ticker symbol for me. pic.twitter.com/f3JejjeYe4

— Nate Geraci (@NateGeraci) November 24, 2025
The launches confirm growing institutional acceptance of altcoins in regulated products beyond Bitcoin and Ethereum.

Both ETFs carry risks. Neither is registered under the Investment Company Act of 1940, creating regulatory distinctions and higher risk profiles versus typical investments.

Dogecoin (DOGE) Price Performance. Source: BeInCryptoMonad Mainnet Arrives With Large Initial SupplyThe Monad Public Mainnet will also launch today, November 24, 2025, culminating years of work on the high-performance Layer-1 blockchain.

Built for full EVM compatibility, Monad prioritizes security, decentralization, and throughput. Its launch followed a public sale on Coinbase from November 17 to November 22, during which 7.5 billion MON tokens were sold at $0.025 each.

According to the tokenomics overview, Monad’s initial token supply is 100 billion MON, with 49.4 billion (49.4%) unlocked at launch. The rest unlocks gradually, becoming fully accessible by Q4 2029, the network’s fourth anniversary.

Monad has one of the most predatory tokenomics.

– Team allocation is at industry highest 27%
– VCs get 20% which they got at much lower prices to retail
– Ecosystem Development is at 38.5%, which is similar to Plasma and you know how that ended pic.twitter.com/FTy2jPU0ea

— CoinMamba (@coinmamba) November 10, 2025
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The mainnet debut positions Monad as a contender in the expanding Layer-1 segment. The network’s EVM compatibility and higher throughput address persistent challenges for decentralized applications.

The immediate release of nearly half the token supply can strongly influence early price discovery.

MegaETH Bridge LaunchesMegaETH will open its Pre-Deposit Bridge on November 25, letting users convert USDC on Ethereum to USDm on the Mega mainnet (Frontier).

The bridge supports up to $250 million, giving early access to the network’s features before a wider launch.

Visual representation of the MegaETH Pre-Deposit Bridge launch. Source: MegaETH
“Introducing the MegaETH Pre-Deposit Bridge. USDC on Ethereum → USDm on Mega mainnet (Frontier). $250M cap. November 25,” the network shared.

This initial bridge is a crucial infrastructure step for MegaETH as it approaches mainnet. The defined cap helps the team manage early network traffic and user experience.

Users gain a stablecoin option from the outset through the USDC-to-USDm conversion. This development comes barely a month after MegaETH’s MEGA token sale.

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Solv Protocol Integrates SolanaIn a separate move, Solv Protocol will complete its integration with Solana on November 24. Cross-chain expansion enables Solv users to interact across a broader set of blockchain ecosystems.

1 more day, we couldn’t have done it without the full support of the ecosystem.

The largest on-chain BTC Treasury's arrival in @Solana will now fully commence, deposits go live tomorrow.

We’re ready to bring our A-game in the BTCFi Major League. pic.twitter.com/3N7xFI9X01

— Solv Protocol (@SolvProtocol) November 23, 2025
This aligns with the larger trend of DeFi protocols pursuing multi-chain growth to boost liquidity and attract diverse users.

Additionally, Arbitrum is hosting an event in Hong Kong for community members and developers on November 26.

“Arbitrum will team up with HackQuest and CityUHK Web3AI Club to bring the ArbMix community gathering to City University of Hong Kong next Wednesday, November 26!,” the network shared.

Such gatherings often lead to partnership announcements and new upgrades, which could influence the price of the ARB token, especially in the short term.

Arbitrum (ARB) Price Performance. Source: BeInCryptoThe event happens as Layer-2 projects compete for transaction volume and developer engagement in the Ethereum scaling sector.

This week’s clustering of industry events highlights accelerating crypto infrastructure growth. Regulated ETFs and new network launches highlight the paths of mainstream financial adoption and decentralized tech innovation.

Traders can cushion their portfolios against any sudden impact by trading around or front-running these headlines strategically.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Some veteran users are already exploring privacy-focused alternatives like Zcash. At the same time, BlackRock’s digital assets head Robbie Mitchnick said major institutional clients are no longer treating Bitcoin as a future payments network, calling that vision “speculative” and far from investable. Instead, investors are focused almost entirely on Bitcoin’s store-of-value role while stablecoins seize the payments market and expand into remittances, cross-border transfers and settlement.

VanEck Flags Quantum Risk for BitcoinBitcoin’s long-term security model and its place in the coming decade are once again a hot topic after VanEck CEO Jan van Eck raised concerns about whether the cryptocurrency’s encryption is strong enough to withstand future advances in quantum computing. Speaking on CNBC, van Eck said the question quietly became one of the most important internal discussions in the Bitcoin community. While the asset manager is still bullish on Bitcoin for now, he warned that VanEck will not hesitate to walk away if quantum breakthroughs fundamentally threaten the network’s core assumptions.

Jan van Eck interview with CNBC

Van Eck explained that although Bitcoin continues to attract global liquidity and holds a strong position in diversified portfolios, many long-time Bitcoiners are actively exploring alternatives for enhanced privacy. According to him, Bitcoin “OGs and maxis” have been drawn toward Zcash as they search for stronger transactional privacy. 

That trend has been reflected in the market. Zcash exploded by more than 1,300% in the past three months as interest in anonymous digital payments surged. The move comes despite reassurances from experts like cryptographer Adam Back, who recently stated that meaningful quantum threats to Bitcoin are still at least two to four decades away.

The VanEck chief also addressed the state of the market, and suggested that Bitcoin’s current price weakness is part of a four-year cycle that is already being priced in. He explained that historically, each cycle included one major negative year, and based on past patterns, 2026 is widely expected to be that downturn year. Van Eck believes investors are already positioning accordingly, which may be contributing to Bitcoin’s softer performance this cycle.

Still, he argued that Bitcoin is an essential component of modern portfolios due to its deep on-chain liquidity and institutional relevance. He encouraged long-term investors to rely on dollar-cost averaging during bearish phases rather than chasing rallies at cycle peaks.

Bitcoin fell more than 30% since its October all-time high, and briefly dipped just above $82,000 before rebounding to around $88,000. Despite the drawdown and the questions swirling around long-term encryption, van Eck maintains that Bitcoin’s role in global markets is secure for now.

BTC’s price action over the past week (Source: CoinMarketCap)

BlackRock Clients Don’t See Bitcoin as PaymentsBlackRock’s head of digital assets, Robbie Mitchnick, says most major institutional clients are not evaluating Bitcoin through the lens of everyday payments when considering whether to invest. On a podcast, Mitchnick explained that while some envision Bitcoin becoming a global payments network, that scenario is viewed as a distant “out-of-the-money option-value upside” rather than a core investment rationale. For now, he said investors are overwhelmingly focused on Bitcoin’s “digital gold” narrative and its role as a long-term store of value.

Mitchnick stressed that Bitcoin’s ability to function as a mainstream payments system is still highly speculative and will require a lot of progress on scaling solutions like the Lightning Network. He explained that layer-2 rollups, which were once hailed as a promising avenue for faster and cheaper Bitcoin transactions, have come under scrutiny. Galaxy Research reported in August of 2024 that many of these networks may not be sustainable long-term.

While Bitcoin’s payments future is still uncertain, Mitchnick said stablecoins have already shown clear product-market fit. He described them as “hugely successful” in payments due to their ability to move value quickly and efficiently, and added that their use cases extend well beyond crypto trading and DeFi. He predicted that stablecoins will increasingly power retail remittances, corporate transfers, cross-border settlements and even capital markets activity as adoption expands.

Mitchnick believes Bitcoin could compete in retail remittance payments over time but said that such a shift should not yet be treated as a core assumption by investors. 

His thoughts are very similar to those from ARK Invest CEO Cathie Wood, who said the growth of stablecoins partially displaced Bitcoin’s expected role in global payments. Wood said that this trend prompted her to revise her 2030 Bitcoin price prediction downward by roughly $300,000 from her earlier $1.5 million target.

While Bitcoin still dominates as a store-of-value asset, the accelerating rise of stablecoins suggests the race for the future of digital payments may be unfolding along a different path than many early Bitcoin advocates expected.

Mon, 24/11/2025 - 8:34

The market crash might finally stop here, as momentum indicators like the RSI are slowing down bearish momentum.

Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Shiba Inu recently recovered from one of its few remaining technical anchors, an incredibly oversold RSI. For the time being, the slide was stopped solely by the indicators scraping levels that typically only show up during capitulation phases, according to the TradingView chart. 

Becoming oversoldOne of two patterns typically occurs when an asset falls into deep oversold territory while the price prints new multimonth lows: either exhaustion selling that precedes a rebound, or the initial phase of a protracted downtrend that grinds lower until liquidity dries up.

SHIB/USDT Chart by TradingViewDue to sellers’ eventual lack of momentum, SHIB currently appears closer to the first scenario. Every major moving average, including the 50, 100 and 200, is stacked above the price, indicating a persistent macro downtrend. The fact that volume remained comparatively steady throughout the decline lends credence to the theory that this was a controlled, but gradual, unwind rather than panic-selling.

HOT Stories

We are currently witnessing a technical, rather than sentiment-driven, rebound. The RSI signal and the temporary exhaustion of downward pressure are what buyers are responding to.

Possible scenariosTwo or three of the following scenarios are important.

First, rally toward the 50-day moving average in the short term. If the oversold bounce continues for a few more sessions, the price may move closer to the $0.0000095-$0.000010 range. That is where the 50-day and 20-day MAs meet. The bounce was merely a respite if SHIB is rejected there. Anticipate another test of the lows.

Second is sideways stabilization prior to an appropriate reversal of the trend. Consolidation becomes beneficial if volatility decreases and SHIB remains above $0.0000080. Here, a flat base would indicate that sellers have finished and accumulation has begun in silence. For a medium-term recovery, that is the healthiest configuration, but it will require time.

Third comes a breakdown if the bounce does not work right away. The RSI reset will not matter if SHIB closes below the most recent low. The token will be pulled by momentum into the deeper liquidity pocket of the $0.0000070 zone. Because the oversold rebound was accompanied by actual buy volume, this scenario is currently the least likely — but it is still possible.

Related articles

XRP Whales Accumulate $7.7B Amid Bearish Market, Signaling Long-Term PositioningAccording to market analyst Tylder McKnight, XRP whales have quietly amassed over $7.7 billion worth of the cryptocurrency over the past three months. 

Therefore, this significant accumulation comes at a time when market sentiment has largely remained bearish, suggesting that major holders are positioning for long-term gains rather than short-term speculation.

XRP whales, addresses holding massive stakes, are quietly accumulating during market downturns, signaling confidence and strategic positioning ahead of potential price-driving catalysts, according to McKnight.

On-chain data reveals steady XRP inflows into whale wallets. Unlike retail traders reacting to market swings, these large holders are strategically accumulating during bearish conditions, positioning for long-term gains. 

Historically, such whale-driven accumulation in major cryptocurrencies often precedes significant price rallies, as institutional players capitalize on early access to market catalysts.

What does this mean? Well, whales have quietly accumulated $7.7 billion in XRP, signaling a strategic, long-term bet amid a bearish market. With institutional adoption and upcoming ETF launches on the horizon, these moves could fuel significant upside, positioning XRP as a key cryptocurrency to watch.

XRP Eyes Key Price Targets Amid Double-Bottom RetestXRP draws trader and investor focus as it retests a key double-bottom breakout, signaling potential bullish momentum toward $2.30 and $3.50, says analyst Gert Van Lagen.

Source: Gert Van LagenXRP’s price action mirrors a classic double-bottom pattern, where repeated tests of support signal easing selling pressure and rising demand, hinting at the potential for a sustained rally, according to Van Lagen.

XRP is retesting its $2.06 breakout zone. Holding above this level could pave the way to $2.30 and $3.50, key resistance points that may trigger profit-taking but also present significant upside for traders navigating the volatility.

What does this mean? Well, XRP’s retest of its double-bottom breakout sets the stage for potential moves toward $2.30 and $3.50, offering a clear opportunity for traders following technical patterns. Success will hinge on monitoring key support and resistance levels alongside broader market trends.

ConclusionWhales’ $7.7 billion XRP accumulation signals a strong vote of confidence from major players. Amid bearish sentiment, this strategic, long-term positioning hints that sophisticated investors are gearing up for catalysts poised to drive XRP’s next rally.

On the other hand, XRP’s retest of its double-bottom breakout signals strong bullish potential, targeting $2.30 and $3.50. While technical momentum favors upside, traders should watch for regulatory changes and macroeconomic factors that could impact price action.

VanEck sees quantum threats and privacy gaps in Bitcoin.

Summary

VanEck CEO warns on Bitcoin encryption and privacy
VanEck considers Zcash as Bitcoin faces quantum risks
Industry experts debate Bitcoin’s quantum computing threat

VanEck CEO Jan van Eck questioned Bitcoin’s encryption and privacy protections during a recent appearance on CNBC’s Power Lunch, stating the asset management firm could withdraw from the cryptocurrency if fundamental technological concerns are not addressed.

Speaking alongside anchor Brian Sullivan, van Eck said challenges facing Bitcoin extend beyond price volatility, pointing to technological weaknesses within the cryptocurrency’s design.

“There’s something else going on within the Bitcoin community that non-crypto people need to know about,” van Eck stated, according to the broadcast. “Ultimately, VanEck has been around before Bitcoin. We will walk away from Bitcoin if we think the thesis is fundamentally broken.”

The executive cited concerns about Bitcoin’s (BTC) cryptographic robustness, resistance to quantum computing threats, and privacy model as key evaluation factors. Van Eck referenced Zcash as an alternative some Bitcoin holders are considering, noting that privacy and encryption strength have emerged as significant concerns within segments of the cryptocurrency community.

Following the appearance, van Eck attributed the ongoing bitcoin bear market to multiple factors, including the halving cycle‘s impact through 2026, quantum encryption concerns, and comparisons to Zcash’s privacy features, according to statements reported by ecoinimist.com. He also noted advice from VanEck portfolio manager Pranav Kanade regarding dollar cost averaging during bear markets.

The comments align with broader industry discussions about quantum computing threats to blockchain technology. At Devconnect in Argentina on Nov. 17, Ethereum co-founder Vitalik Buterin warned about quantum computing’s potential impact on cryptographic standards, stating “Elliptic curves are going to die,” in reference to mathematical foundations securing Bitcoin and Ethereum.

University of Texas at Austin professor Scott Aaronson, a quantum computing researcher, said a fault-tolerant quantum computer capable of running Shor’s algorithm could emerge before the 2028 U.S. presidential election, given current hardware progress rates. Such technology would enable attackers to derive private keys from public ones, posing systemic risks to existing blockchains.

Samson Mow, CEO of Bitcoin infrastructure firm JAN3, disputed van Eck’s statements, arguing the VanEck executive should not be speaking on Bitcoin and rejecting suggestions that Bitcoin proponents are shifting toward privacy-focused alternatives like Zcash.

Zcash has experienced price gains amid increased attention to privacy features, according to market data. The cryptocurrency’s performance reflects how narratives around privacy and quantum resistance can influence trading activity during periods of Bitcoin weakness.

The debate highlights emerging questions about whether Bitcoin’s architecture can withstand advances in quantum computing technology, a consideration that may factor into market assessments as participants evaluate the cryptocurrency’s long-term viability.

Journalist

Posted: November 24, 2025

Key Takeaways
Why did Zcash rebound?
A defended trend line and oversold Stoch RSI helped spark its sharp 24-hour recovery.

What should ZEC traders track next?
Retail activity climbed, but the Long/Short Ratio still favored shorts, keeping momentum uncertain.

Zcash recovered sharply after rising more than 10% over the last 24 hours. The bounce interrupted its short-term downtrend and pulled fresh attention from both whales and futures traders.

That shift aligned with aggressive repositioning from one of the most active Zcash [ZEC] traders.

A major trader flips direction after a heavy loss
Lookonchain data showed that trader 0x152e closed a large ZEC long yesterday with an $846,000 loss.

The liquidation didn’t slow him down.

Shortly after closing the loss, the trader reversed course with a leveraged 5x short on 4,574.87 ZEC. That move, paired with his aggressive 20x long on 367.36 BTC worth $31.63 million, highlighted how uncertain and divided the market remained around ZEC’s short-term trend.

Retail activity surges despite derivatives caution
CryptoQuant’s Spot Retail Activity chart showed a sharp rise in retail trading frequency around ZEC’s latest bounce.

The dataset reflected heightened participation rather than pure accumulation, but the timing aligned with renewed confidence after the token’s recovery.

Source: CryptoQuant

Heavy retail engagement often appears when traders expect more upside instead of short-lived volatility.

Derivatives data told a different story.

Coinalyze’s Aggregated Long/Short Accounts Ratio hovered near 0.928, keeping shorts slightly ahead. The chart did not support a 0.5 surge or a flip toward buyers.

That imbalance, paired with rising Spot activity, suggested sentiment was improving on the surface while Futures traders stayed cautious.

Source: Coinalyze

ZEC reacts at the trend line support
ZEC respected its ascending trend line on the daily chart and bounced strongly from that level. The reaction marked the trend line’s third successful defense this month.

On top of that, the Stoch RSI rebounded from oversold territory, hinting at fading selling pressure.

If buyers hold the trend line, ZEC could attempt another move toward the $650–$700 region. Failure to defend the level may reopen a path toward $520.

ZEC traders appeared more confident after the latest rebound, but derivatives positioning remained mixed.

Source: TradingView

Alvin Lang
Nov 24, 2025 07:01

Conflux (CFX) ecosystem reports significant increase in RPC usage, with providers like Unifra, BlockPi, and Validation Cloud processing billions of requests over the past year.

The Conflux (CFX) ecosystem is experiencing a notable surge in Remote Procedure Call (RPC) usage, reflecting the growing on-chain activity and demand for a robust infrastructure. According to the Conflux Forum, five major RPC service providers are at the forefront of this expansion, processing billions of requests and supporting the ecosystem's scalability and stability.

Unifra's Substantial Contribution
Unifra, a key player in the Conflux network, has been instrumental in maintaining a stable and reliable service. Over the period from November 2024 to November 2025, Unifra successfully handled approximately 1.47 billion RPC requests, demonstrating its significant role in the ecosystem.

BlockPi's Expanding Influence
BlockPi not only facilitates RPC access but also contributes to the operation of Conflux’s Proof of Stake (PoS) node infrastructure. Between February and November 2025, BlockPi witnessed a remarkable increase in usage, with more than 1.5 billion total RPC requests. During the latest reporting period from October to November 2025, BlockPi processed 245 million requests, with 207 million originating from its Public RPC endpoints.

Validation Cloud's Rapid Growth
Validation Cloud, serving both the Conflux mainnet and testnet, is a crucial infrastructure for USDT0. Over the past year, its request volume has surged, reaching monthly figures between 11 million and 15 million, up from around 1.1 million per month at the start of 2025. Mainnet traffic comprises about 98% of total usage, highlighting the platform's expanding footprint.

Tenderly's Developer Tools
Since its integration with the Conflux mainnet and testnet in July 2025, Tenderly has emerged as a vital provider, offering a suite of Web3 developer tools. It has processed around 7 million RPC calls, created 11 dedicated endpoints, assisted in 21 transaction debugging sessions, and executed 40 API/dashboard simulations, enhancing the tooling support within the ecosystem.

NOWNodes' Supplementary Role
As a supplementary provider, NOWNodes offers additional RPC connectivity options for specific development and application needs, further strengthening the ecosystem's infrastructure.

Conflux remains committed to monitoring RPC usage and enhancing its infrastructure to ensure a transparent, stable, and high-performance environment for developers and ecosystem partners. The community's feedback is welcomed as Conflux aims to foster a thriving ecosystem.

For more details, visit the Conflux Forum.

Image source: Shutterstock

conflux
rpc
blockchain
infrastructure

Bitcoin price may be gearing for a rebound with a cleaner setup after prolonged leverage wipeout.

Summary

Bitcoin trades near $87K after a major leverage flush that cleared out excessive long positions.
CryptoQuant analysts say fear, oversold readings, and reduced open interest could support a slow recovery.
The chart still leans bearish with downward-sloping averages and weak momentum.

Bitcoin was trading near $86,646 at press time, up 0.6% in the last 24 hours. The daily range sat between $85,483 and $87,995. The coin remains down 10% over the past week after a 31% pullback from the $126,080 all-time high set on Oct. 6.

Trading volume climbed to $64.7 billion in the last 24 hours, a 46% increase, showing a short burst of activity after days of heavy selling.

CoinGlass data shows that derivatives volume rose 35% to $93 billion, while open interest increased 0.64%. Rising volume with slightly higher open interest often means traders are returning to the market after a liquidation flush, but positioning is still cautious.

Open interest drop may mark price reversal
A Nov. 21 analysis by CryptoQuant contributor Darkfost points to a major structural shift in derivatives. He noted that Bitcoin’s (BTC) open interest, measured in BTC, is showing its strongest 30-day drop of the entire cycle, with Binance alone losing roughly 1.3 million BTC in open contracts.

Darkfost said this type of decline “has not appeared since the 2022 bear market,” adding that the current cleanup is “far more meaningful than many traders admit.”

He noted that the market had been heavily driven by leveraged positions, with total open interest reaching an all-time high near $47.5 billion earlier in the cycle. He described the ongoing cleanup as a natural reset after a long period of speculative positioning.

Another CryptoQuant analyst, gigisulivan, pointed to a drop in the short-term SOPR under 0.94, which they said has been a reliable sign of local bottoms this year. They also highlighted oversold readings on the three-day and daily timeframes along with extreme fear in sentiment. 

They expect Bitcoin to recover toward the $99,000 to $105,000 range before meeting stronger resistance, although they warned that fast moves above $100,000 often encourage premature bullish narratives.

Their outlook suggests that price could move between $78,000 and $105,000 for several months before the market finds a clearer direction.

Bitcoin price technical analysis
Bitcoin’s chart displays a clear downward trend from late October into November, with lower highs and lower lows creating a clear descending structure. The price is still close to the lower Bollinger Band, which indicates ongoing weakness rather than a steady base.

Candles remain below the 20-day and 50-day moving averages, both of which slope downward and confirm steady bearish pressure.

Bitcoin daily chart. Credit: crypto.news
Momentum readings are showing mixed signs. There is still no obvious sign of a reversal even though the relative strength index is in deep oversold territory at 29. Stochastic is low but not turning up with strength.

An elevated average directional index indicates a strong trend that hasn’t yet weakened enough to show a change in direction. The MACD and awesome oscillator are negative, which shows that buyers have not yet regained traction.

Support sits in the region around the mid-$80,000 zone. If buyers fail to defend that area the market may retest levels closer to $80,000. Resistance is located near the $90,000 region and then the psychological $100,000 zone.

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7h25 ▪
4
min read ▪ by
Luc Jose A.

Summarize this article with:

As the crypto market approaches 3 trillion dollars again, bitcoin grabs attention by crossing 86,000 $, driven by an increase of over 3 %. This rebound fuels projections of a move towards 88,640 $, but the setup remains fragile. Between immediate resistance zones and hesitant volumes, the bullish scenario remains conditional. Technical signals are accumulating, but only a clear breakthrough of key thresholds could confirm a sustainable recovery.

In brief

The crypto market is again approaching 3 trillion dollars in total capitalization.
Bitcoin records an increase of over 3 %, rising above 86,000 dollars.
This progression fits into a technical structure of wave 4 type, according to specialists’ analysis.
The realization of this scenario will depend on the market’s ability to maintain sufficient trading volume.

A technical rebound that remains to be confirmed
Bitcoin recorded a rise of over 3 % over the past 24 hours after a drop below 84,000 $, reaching around 86,395 $, in a context of a broad market recovery, now valued at 2.95 trillion dollars.

Indeed, this increase fits into an identifiable sequence according to Elliott wave theory. Thus, bitcoin describes a dynamic composed of a bullish push in five waves, followed by a pullback on a support. This setup suggests the possibility of a new upward move, with a technical target located at 88,640 $, corresponding to the 100 % Fibonacci extension.

In this perspective, several decisive technical levels condition the validity of this scenario. Here are the main points highlighted in this analysis :

A solid support zone : between 81,620 $ and 83,640 $. As long as the price remains above, the bullish structure remains intact ;

The last critical low point : if BTC falls below 84,230 $, the trend would be weakened ;

An immediate resistance : around 86,370 $, which bitcoin is currently trying to break.

The current bitcoin situation is therefore under close watch. If the bullish momentum manages to impose itself with sustained volumes, the target of 88,640 $ could be reached. Otherwise, a retreat below the mentioned technical levels could invalidate this short-term scenario.

Towards a critical zone between 92 K$ and 111 K$?
Beyond the immediate target at 88,640 $, a more ambitious outlook emerges. Bitcoin could aim, in a second phase, at a major resistance zone between 92,820 $ and 111,180 $.

This zone corresponds to the classic target of a wave four recovery in an extended corrective structure. Bitcoin could spend the next two weeks slowly moving towards this zone, according to a three-phase scenario: a wave A currently ongoing upwards, followed by a pullback in wave B, then a final rebound in wave C towards this resistance.

This extended scenario fits into a medium-term reading of BTC’s behavior. It assumes consolidation of the current support, but also an ability to generate sufficient momentum to break through several technical thresholds in series.

If volumes remain low or if the market faces macroeconomic resistance (such as monetary policy decisions or regulatory announcements), the complete development of this bullish sequence could be compromised.

Under tension but technically oriented, the bitcoin price remains suspended on the validation of critical thresholds. A move towards 88,000 $ would strengthen the bullish scenario, but caution dominates, as signals depend on volumes and short-term behavior.

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Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Renowned economist Peter Schiff dismissed Strategy Inc. (NASDAQ:MSTR) as nothing more than a “highly leveraged” Bitcoin (CRYPTO: BTC) bet on Sunday, arguing against its inclusion in global equity benchmarks.

Strategy Not A ‘Real Operating Business,’ Says SchiffIn an X post, Schiff highlighted last week’s report by JPMorgan analysts that the company risks delisting from major equity indices, such as the MSCI World Index and Nasdaq 100, due to the ongoing sell-offs.

The analysts estimated that roughly $9 billion of Strategy’s $50 billion market value sits in passive funds that track these indices, according to CoinDesk, and that removal from MSCI alone could trigger about $2.8 billion in passive outflows.

“It never should have been included in those indexes in the first place. It’s not a real operating business,” Schiff said about the Michael Saylor-founded firm.

The Bitcoin critic argued that passive index funds should not be “compelled” to buy the company’s stock.

See Also: Eric Trump Says ‘Great Time’ To Buy Bitcoin, Adds $1 Million Prediction Still On, But May Take ‘Some Years’

Saylor Calls JPMorgan’s Report ‘Alarmist’Saylor defended his company, suggesting that JPMorgan’s report was “alarmist” in a recent interview.

“I’m not so sure the numbers are nearly that high. I think actually the numbers would be much smaller,” Saylor told CoinDesk.

Schiff’s criticism of MSTR’s Bitcoin strategy is not new. He has previously argued that the company would have been better off investing in any other asset, pointing out that despite spending over $48 billion on Bitcoin in the past five years, MSTR’s total paper profits are less than 17%. [source]

Bitcoin Connection Pulls Strategy DownBitcoin's ongoing decline has heavily hurt Strategy, currently the world’s largest corporate holder of the apex cryptocurrency. The stock has plunged over 40% in the last month and 62% from its record highs set earlier this year.

The company currently holds 649,870 BTC at an average price of $74,433. This means that another 14% drop from here could put Strategy's position into the red.

Meanwhile, Saylor wrote in an X post,”I Won't ₿ack Down,” possibly indicating that the company would continue to buy more BTC.

Price Action: At the time of writing, BTC was exchanging hands at $86,695.76, up 0.21% in the last 24 hours, according to data from Benzinga Pro.

Strategy shares closed 3.74% lower at $170.50 during Friday’s regular trading session.

The stock maintains a weaker price trend over the short, medium and long terms. How does it compare with other Bitcoin-hoarding companies? Visit Benzinga Edge Stock Rankings to find out.

Read Next: 

Bitcoin Whale From Satoshi Era Dumps Entire Stake For $1.3 Billion As BTC Drowns Below $83,000
Photo Courtesy: T. Schneider on Shutterstock.com

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The $80K BTC put is now the most popular options play on Deribit. Nov 24, 2025, 6:33 a.m.

A week ago, CoinDesk highlighted a bearish shift in the BTC options market, with the $85,000 put overtaking the $140,000 call as the most popular bet on crypto exchange Deribit.

Now, the $80,000 put has taken the lead, boasting an open interest of just over $2 billion, while the $85,000 put ranks second with $1.97 billion in open interest. Meanwhile, the $140,000 call's open interest has dropped to $1.56 billion.

STORY CONTINUES BELOW

The $80,000 put reflects a bet that bitcoin's spot price will fall below that level. Put buyers are implicitly bearish, while call buyers are bullish.

BTC options: Distribution of open interest. (Deribit)

AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

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A crypto expert predicted that the Franklin Templeton XRP ETF could see up to $30 million in trading volume once it was launched. The fund is scheduled to go live today given that the NYSE cleared it for trading last week.

Expert Sees Massive Launch Volume for Franklin Templeton XRP ETF
Crypto expert Chad Steingraber shared in an X post that he expects trading activity to reach the equivalent of 15 million XRP on day one. This is around $30 million in volume.  He also added another bold projection that pointed toward as much as 50 million XRP.

Steingraber mentioned that the firm usually introduces new products carefully. He also said that real growth will happen slowly as financial advisors start to recommend the product once it has a performance history. 

He also noted that the ETF will launch with a small initial investment. This in essence means that most of the activity during the first day should be net inflows from investors.

The launch was confirmed after NYSE Arca approved the listing and informed the SEC. The Franklin XRP Trust will trade under the name XRPZ and will have a sponsor fee of 0.19% of its NAV. This fee will be waived for the first $5 billion in assets until May 2026.

Source: SEC
The fund joins Canary Capital and Bitwise Asset Management which both launched their spot XRP ETFs earlier this month. Franklin Templeton submitted an S-1 amendment on November 4 which started the 20-day countdown for the launch. 

Meanwhile, the already existing XRP ETFs by Bitwise and Canary have attracted net inflows for six days running. They have accumulated more than $422 million, according to SoSoValue.

Source: SoSoValue
Experts Signal Potential XRP Upside
There have been more bullish claims for the next price moves of the token ever since the new XRP ETF came to light. Forbes recently said in an analysis that the token could reach $5.25 by 2030.

Also, crypto expert Egrag Crypto noted that even with the recent crash in the market the token is still trading above monthly support levels.

Source: X
Meanwhile, a Ripple dev said staking could be added to the XRP Ledger. He stated that the coin already supports both payments and tokenization. So doing this is very much possible.

The crypto market has started recovering from its recent crash. Bitcoin is now trading above $85,000 which basically put most altcoins back in the green.

A Bitcoin and crypto market recovery appears to be underway amid renewed hope that the US central bank will cut rates in December. 

Bitcoin prices returned to $88,000 twice over the past few hours, but it was rejected there and sharply retreated on both occasions.

The asset was hovering around $87,000 at the time of writing and has started to recover from its dump below $82,000 last week as Federal Reserve rate cut odds increase again. Analysts are generally confident that we haven’t entered a bear market yet and expect a liquidity injection to push markets higher.

Bull Market Band Support Lost
“It is clear by now that Bitcoin has fully lost its Bull Market Support Band,” observed analyst Daan Crypto Trades on Sunday. He added that the recent move down has created a $20,000 gap to get back to the band.

However, the asset will return to this level, which is a key area to watch, he said before adding, “Weekly market structure technically still intact as long as the April lows are defended.”

Bitcoin fell to $75,000 in April, but this correction has been much sharper and deeper in terms of the sell-off.

$BTC It is clear by now that Bitcoin has fully lost its Bull Market Support Band.

This had roughly been supporting price all cycle, with a few smaller deviations below.

But this recent move down has made it so there’s over a $20K+ gap to get back to the band.

At some point,… pic.twitter.com/dL15LFlMix

— Daan Crypto Trades (@DaanCrypto) November 23, 2025

Analyst ‘Rekt Capital’ took a look at the weekly candle, predicting that a close above $86,000 could see prices revisit $93,000 “as there is little in the way of supports/resistance within this region.” The weekly candle closed at $86,820, according to TradingView.

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Fellow analyst ‘Stockmoney Lizards’ observed a Bitcoin wedge breakdown, RSI at oversold, and panic, which was also seen earlier this year in March and April.

“The pattern doesn’t care about your narrative. It never does,” they said, pointing out that an all-time high followed the previous similar sell-off.

Not So Bullish
However, crypto commentator ‘Colin Talks Crypto’ wasn’t as bullish, stating:

“I wouldn’t flip macro bullish, as in new ATHs, too quickly. Relief rally, yes. A bounce was *inevitable* after being so oversold.”

He added that major key levels must be reclaimed “way above where we are now” to have a chance at reaching new all-time highs. “There’s no reason to believe this isn’t just an expected, large relief rally,” he said.

BTC was trading close to $87,000 at the time of writing, following a weekend recovery.

Tags:

Hedera price has been in a downtrend since August due to weakening activity over the network. However, Hedera now appears to be setting the stage for a major rebound as it eyes a breakout from multiple bullish patterns on the chart.

Summary

Hedera price is up 9% over the past day.
HBAR price action showed multiple bullish reversal patterns at play.
A growing number of futures traders are starting to go long on HBAR.

According to data from crypto.news, Hedera (HBAR) price has fallen 13% over the past month and 51% from its highest point in July.

Hedera price declined due to a significant slowdown in on-chain activity, compounded by broader macroeconomic pressures, including renewed tariff threats from U.S. President Donald Trump. These developments have weighed on investor sentiment, dragging down Bitcoin (BTC) and other major cryptocurrencies, including HBAR.

While the launch of spot HBAR ETFs initially triggered optimism among investors and spurred some upside momentum, the enthusiasm quickly faded as the performance of HBAR ETFs lagged behind more dominant peers like Solana, resulting in what many viewed as a classic “buy the rumor, sell the news” event.

Data from SoSoValue shows that since launch, spot Solana ETFs have attracted total net inflows of $510 million, while HBAR ETFs have only drawn in $76 million during the same period.

Additional data from DeFiLlama shows the total value locked across Hedera’s DeFi applications has plummeted nearly 50% from July, standing at $157.9 million at the time of writing. The stablecoin supply on the network has also shrunk dramatically, falling from $224.5 million in August to just $72 million.

However, even as HBAR has been in a downtrend since August, some early signs have begun to develop that suggest the token could be on the verge of a turnaround.

Hedera price analysis
HBAR futures open interest has climbed 13% over the past 24 hours, and the long/short ratio is nearing 1. A rise in open interest alongside an improving long/short ratio typically means that bullish sentiment is growing and that traders are positioning for an upward move.

HBAR price has gained 9% over the past 24 hours and was trading at $0.14 at press time.

On the daily chart, HBAR price has been trading within a descending parallel channel pattern since July, marked by the asset moving with lower highs and lower lows within two downward-sloping trendlines. While this pattern usually precedes a period of sustained weakness, if a token manages to break out from the upper trendline, it is taken as a bullish reversal sign.

HBAR price has formed multiple bullish patterns on the daily chart — Nov. 24 | Source: crypto.news
Adding to the bullish outlook, HBAR is in the process of forming a triple bottom pattern, which is widely viewed as a classic reversal signal. The three bottoms have formed around $0.123, with the neckline positioned at $0.228.

As such, the most probable target for HBAR next would be the $0.228 level, which is the neckline of the triple bottom pattern. The target lies nearly 98% above the current price.

At press time, momentum indicators have started to tilt in favor of the bulls. The MACD line is on the verge of crossing above the signal line, a potential bullish crossover, while the RSI has bounced back from oversold territory, signaling renewed buyer interest.

On the contrary, a drop below $0.123, which is the support level marking the triple bottoms, would invalidate the setup.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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Cardano’s mainnet experienced a rare chain partition on November 21, 2025 after a malformed staking-delegation transaction exploited a long-standing deserialization bug, briefly producing a “poisoned” branch containing the transaction and a parallel healthy branch that rejected it. The network continued producing blocks on both sides until emergency node upgrades restored convergence later that day; Intersect said no user funds were lost and that a CIP-135 disaster-recovery playbook was prepared but ultimately not needed.

Should Cardano’s Attacker Face The Feds?
What turned a technical postmortem into an industry flashpoint was the public fallout between Cardano founder Charles Hoskinson and Solana co-founder Anatoly Yakovenko over whether the incident should be treated as a federal crime.

Yakovenko opened by praising the protocol behavior rather than the politics: “I am gonna go out on a limb and actually say this is pretty cool. Nakamoto style consensus without proof of work is extremely hard to build. The protocol functioned as designed in the presence of bugs.” He was reacting to Berry Ales’ observation that Cardano “recovered from a minority chain and got rid of the symptom while preserving most of the history and progress since the incident.” Hoskinson replied tersely: “Thanks man. It was a wild day.”

The exchange sharpened when Yakovenko framed exploit traffic as inherent to permissionless networks and warned against involving law enforcement. “Communicating arbitrary bits is fundamentally speech, even if they break the receiver,” he wrote. “The fact that it’s not always the case in the US is lame. Don’t send the feds after the poor guy who f’d up vulnerability disclosure.”

Hoskinson’s counterclaim was that this was not disclosure at all. “It was a premeditated attack by a disgruntled SPO with extensive knowledge of Cardano and who had already observed the testnet fork, the patch efforts, and was in direct contact with the core devs,” he said. According to Hoskinson, the attacker watched the Preview testnet incident, waited through patching efforts, then reproduced it on mainnet.

“We spent hours studying it, reconstructing for mainnet, and then delegating to my personal pool Rats as a message. He only admitted this act after I doxed him in a video then claiming it was a terrible mistake, but somehow neglected to mention it during the entire day while we were fixing it.”

He then argued that intentional exploitation of public infrastructure crosses into criminal territory: “Blackhats exploiting bugs to cause harm to public infrastructure is not a new thing. Its a federal crime because of the catastrophic harm to society such acts could carry. Cardano is a large network and many people derive their entire livelihood from the network’s operation. He hurt every single person in our ecosystem.”

Yakovenko accepted the ugliness of blackhat behavior but maintained that legal escalation is strategically risky in open systems. “Yea. I get it. We have had shitheads that watch public branches for any bug fixes and try to exploit them immediately. It’s a huge pia. Any potential bugs have to be fixed in private and rolled out p2p patches first. It has a chilling effect on the industry if you call in the Feds.” In his “mental model,” if operators run “a system that accepts arbitrary public messages, they are taking on the risk of what happens with any message they receive,” and only permissioned systems with explicit liability framing should be regulated as such.

Hoskinson pressed that model against the realities of regulated finance and cross-chain norms. “Furthermore, are you going to tell all the regulated financial entities that are building on Solana that if they lose money from hackers while using Solana, they shouldn’t file a criminal complaint?” He followed with a direct hypothetical: “So if a blackhat found an exploit in solana and it forked the network resulting in huge losses for your defi community, they should accept its a risk of solana and the blackhat did nothing wrong? What is the remedy?”

Yakovenko’s answer separated moral blame from deterrence. “The blackhat is an absolute piece of shit. The remedy is that we need multiple implementations and formal verification to minimize the risk of that happening… We have to make it impossible.” In his view, prosecution is not a reliable control because serious attackers do not expect to be caught, so resilience must come from engineering redundancy and verification, not the threat of the state.

Intersect’s incident report says the wallet responsible for the malformed transaction has been identified and that authorities including the FBI are being engaged. The immediate Cardano story is a fast-patched validation mismatch that re-converged without rollback. The bigger story is a live, founder-to-founder clash over whether permissionless security failures are primarily a matter for protocol design or criminal law—and what precedent the answer sets for every PoS network, Solana included.

At press time, ADA traded at $0.41.

ADA trades at key demand zone, 1-week chart | Source: ADAUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com

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SummarySun Life Financial is rated Buy, reaffirming my prior view and agreeing with Wall Street's consensus this week.I'm bullish on the firm's recent organic growth in client inflows, a strong credit rating with low leverage, diversification across both insurance and asset management, and Asia market penetration/growth.Some technical chart indicators show bullish momentum stalling somewhat but not reversing just yet.SLF has both a positive EPS consensus as well as a positive upside forecast from Wall St.The interest rate risk inherent in holding a large portfolio of fixed income assets was also discussed.Supatman/iStock via Getty Images

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PRESS RELEASE

Paris, 24 November 2025

Following the approval of the European Central Bank, BNP Paribas announces today the launch of its share buyback programme related to the 2025 financial year results for a maximum amount of EUR 1.15 billion.

A contract was concluded with an investment services provider acting independently, entrusted with an irrevocable instruction to purchase the shares.

The purchase will start on November 24th, 2025. The shares purchased under the programme will be cancelled.

BNP Paribas will provide weekly updates on the progress of the programme via a press release on BNP Paribas’ website, and via full and effective dissemination in accordance with the applicable legal provisions:

https://invest.bnpparibas/en/search/reports/documents/regulated-information.

The share buyback programme will be carried out in accordance with the provisions set out in the EU Regulation n°596/2014 of the European Parliament and of the Council of April 16th, 2014 on market abuse and its implementing provisions, and within the limits of the authorisation granted to BNP Paribas to purchase shares on the market pursuant to the 5th resolution adopted by the General Meeting of BNP Paribas on May 13th, 2025.

The description of the share buyback programme authorised by the above mentioned 5th resolution, published on May 13th, 2025, is available in appendix and on BNP Paribas’s website: https://invest.bnpparibas/en/search/reports/documents/regulated-information.

APPENDIX: DESCRIPTION OF THE SHARE BUYBACK PROGRAMME

The present description complies with the provisions of article 241-2, I of the General Regulation of the French Financial Markets Authority (Autorité des Marchés Financiers).

Date of the general meeting which approved the resolution concerning the share buyback programme
May 13th, 2025

Objectives pursued by BNP PARIBAS
In accordance with the fifth resolution approved by the combined General Meeting on May 13th, 2025, the shares may be purchased for the purposes of:

their cancellation in situations identified by the Extraordinary General Meeting;honoring the obligations linked to the issuance of equity instruments, stock option plans, bonus share awards, the allotment or selling of shares to employees as part of a profit-sharing scheme, employee shareholding or Corporate Savings Plans, or any other type of share grant for employees and directors and corporate officers of BNP Paribas and of the companies controlled exclusively by BNP Paribas within the meaning of article L.223-16 of the French Commercial Code;holding and subsequently remitting them in exchange or as payment for external growth transactions, mergers, spin-offs or asset contributions;under a market-making agreement in accordance with Decision No. 2021-01 of 22 June 2021 of the French Financial Markets Authority (Autorité des Marchés Financiers); carrying out investment services for which BNP Paribas has been approved or to hedge them. Maximum amount allocated to the share buyback programme, maximum number of shares to be purchased
The General Meeting has authorised the Board of Directors to purchase a number of shares representing up to 10% of the shares comprising the share capital of BNP Paribas. For illustrative purposes, on the basis of the actual capital, 113,081,067 shares which represents, on the basis of a maximum repurchase price of EUR 102 per share, set by the fifth resolution approved by the General Meeting dated May 13th, 2025, a theoretical maximum purchase amount of EUR 11,534,268,834. Such limit is likely to change in case of transactions affecting the share capital.

The shares which may be purchased under the present description are BNP Paribas’ shares listed on Euronext Paris – A compartment, ISIN Code FR0000131104.

Considering that BNP Paribas owned as of May 9th, 2025 directly 721,971 of its own shares, i.e. 0.06% of its share capital, the number of shares that is likely to be purchased at the date of this description is 112,359,096 shares representing 9.94% of the share capital, i.e., on the basis of a maximum purchase price of EUR 102 per share as set by the General Meeting, a theoretical maximum purchase amount of EUR 11,460,627,792.

Duration of the share buyback programme
The authorisation granted by the General Meeting dated May 13th, 2025, as described in the fifth resolution, is valid for an eighteen-month period with effect from the date of the said General Meeting, i.e. up to November 13th, 2026.

The Board of directors will ensure that these share purchases are carried out in accordance with the prudential requirements as defined by the regulation and the European Central Bank.

​

​

About BNP Paribas

Leader in banking and financial services in Europe, BNP Paribas operates in 64 countries and has nearly 178,000 employees, including more than 144,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Türkiye, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group's performance and stability. 

Press Contact

Giorgia Rowe – [email protected] – +33 6 64 27 57 96
Sandrine Romano – [email protected] – +33 6 71 18 23 05

CPEN_SBB_Nov2025_VF

The Gates Foundation Trust just sold down many key positions.

Billionaires Warren Buffett and Bill Gates have been close friends for decades. Unsurprisingly, the Gates Foundation Trust owns more than 21 million shares of Berkshire Hathaway (BRK.A +0.09%)(BRK.B +0.58%) -- a stake worth around $11 billion. The Gates Foundation Trust sold many stocks last quarter, including part of its Berkshire Hathaway stake.

Why did Gates sell 2.4 million more shares of Berkshire last quarter? There are two obvious reasons.

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1. Berkshire Hathaway is holding a lot of cash
It's no secret that the stock market in general is getting pretty expensive. The S&P 500 currently trades at roughly 30 times earnings, nearly twice its long-term historical valuation. With that in mind, it would make sense that skilled investors are having a tough time finding market values. Just take a look at Buffett's holding company, Berkshire Hathaway. Buffett has long warned against market timing, yet Berkshire now has more than $380 billion in cash -- more than one-third of its entire market cap!

This oddly makes Berkshire a wonderful investment for those who are worried about the market. It's like buying a mutual fund that has 30% of its investments in cash. If the stock market declines by 10%, you could expect this fund to fall by only 7% if all else were equal. But Berkshire holds a bigger advantage than simply buffering the effect of a market decline. If markets were to experience a correction, Berkshire now has a ton of cash it can deploy at lower valuations. Few investors have this advantage: the ability to put a ton of cash to work while markets are crashing.

In essence, Berkshire is a fantastic choice for nervous investors. By buying shares, you keep your money invested, but have the ability to both shoulder marketwide declines and take advantage of potentially lower valuations if a correction does occur. The portfolio managers at the Gates Foundation Trust are likely aware of these advantages, which may explain why Berkshire is the trust's biggest position. But like Buffett, these portfolio managers may be getting nervous about the market's high valuation. Of the trust's 25 holdings, 12 experienced net selling last quarter. A total of zero positions were increased. So while Berkshire may be a relatively safe stock during market downturns, it appears as if the Gates Foundation Trust is so nervous that even Berkshire isn't a candidate for buying at current levels.

Image source: The Motley Fool.

2. Selling Berkshire stock balances the Gates Foundation Trust's other bets
Selling Berkshire stock has one other benefit for the Gates Foundation Trust's portfolio: more balanced diversification.

Even after the selling, Berkshire remains the trust's largest position, with a 25% portfolio weight. That's right: Roughly one-quarter of the trust's entire portfolio is invested in one stock. Granted, Berkshire itself is fairly diversified, with interests across dozens of industries and geographies. But it's still a single business, leaving the trust's portfolio relatively undiversified versus broader market indexes.

The latest sales brought down Berkshire's portfolio weighting from 30% to 25%. The selling also occurred near Berkshire's all-time highs -- both in terms of trading price and relative valuation. Last quarter, for instance, Berkshire stock had a price-to-book ratio of around 1.6. Over the past decade, however, shares have usually traded between 1.2 and 1.5 times books value. So while the net selling of Berkshire stock by the Gates Foundation Trust may relate to market valuations and diversification needs, it may also be an indication that it simply thinks that Berkshire stock is overvalued. The fact that Buffett himself declined to execute any share repurchases last quarter backs up this belief.

Both Gates and Buffett have preached long holding periods. Buffett is clearly nervous about today's market valuations, leaving him so unable to find deals that he needs to sell down top positions simply to hold cash. The selling by the Gates Foundation Trust seems to mirror this nervousness. But remember that this isn't Gates' personal portfolio -- it is the portfolio of a charitable trust whose primary mission is to distribute profits to other causes. Selling, therefore, could simply be the trust delivering on its mission statement, and not a signal of its skittishness over current market valuations.

Still, the foundation has been a net buyer of stock is previous quarters. So while the selling isn't a smoking gun, it's another potentially bearish sign for investors.