1. Popular cryptocurrencies on CEXs
Top 10 CEX trading volumes and their 24-hour price changes:
- BTC: +3.01%
- ETH: +2.02%
- SOL: +1.69%
- ALLO: -6.71%
- XRP: +0.56%
- BNB: +3.00%
- DOGE: +0.53%
- ENA: -2.32%
- STRK: +6.98%
- AVAX: +4.98%
24-Hour Gainers List (Data Source: OKX):
- MERL: +127.54%
- SD: +32.01%
- UXLINK: +22.01%
- DASH: +18.03%
- OM: +17.23%
- VELO: +15.53%
- TRA: +13.22%
- SWFTC: +11.71%
- CFG: +11.09%
- PENDLE: +9.24%
Headlines
Odaily Odaily reports that South Korean portal site Naver has agreed to acquire Dunamu, the operator of Upbit, South Korea's largest cryptocurrency exchange, in an all-stock transaction valued at approximately $10.3 billion. The deal reportedly involves Naver's fintech subsidiary, Naver Financial Corp., issuing 2.54 new Naver shares for every 1 Dunamu share it holds. (Bloomberg)
Binance Wallet now offers on-chain stock trading.
Odaily reports that Binance Wallet has announced the launch of "On-Chain Stocks," with trading on-chain stocks now offering a minimum fee of 0%.
Tom Lee: The decline in ETH and BTC is due to artificial liquidation, not a fundamental collapse.
According to Odaily Odaily, Tom Lee claims that the decline in ETH and BTC is a manipulated liquidation, not a fundamental collapse. This view comes from Tom DeMark, a market timing expert who has advised Goldman Sachs, Citi, and Paul Tudor Jones. DeMark believes the ideal bottom for ETH is around $2,500, but a reversal may occur sooner.
Industry News
According to an analysis Odaily by Jefferies, stablecoin issuer Tether currently holds 116 tons of physical gold, making it the "largest gold holder outside of central banks," with reserves comparable to those of the central banks of countries like South Korea, Hungary, and Greece. Last quarter, Tether's gold purchases accounted for nearly 2% of global gold demand and nearly 12% of central bank purchases, and its aggressive acquisitions may have already impacted short-term market supply and investor sentiment.
Ark Invest buys crypto stocks such as Block, Circle, and Coinbase on dips.
According to Odaily Odaily, Cathie Wood's Ark Invest continued to increase its holdings of crypto-related stocks on Tuesday to capitalize on the price decline and broader crypto market downturn.
According to its transaction documents, Ark Invest purchased $13.5 million worth of Block. Inc. stock, $7.6 million worth of Circle Internet Group stock, and $3.86 million worth of Coinbase stock through its multiple exchange-traded funds (ETFs).
According to Odaily Odaily, Strategy Research published an article on the X platform stating that if the price of BTC falls to its average cost of $74,000, its asset-to-convertible bond ratio will still be 5.9. If the price of BTC falls to $25,000, the ratio will be 2.0.
A ratio of 2.0 means that the company still has twice the amount of Bitcoin assets as its debt, the debt risk remains within a controllable range, and the assets can still fully cover the debt.
According to Odaily, JPMorgan Chase has submitted a proposal to regulators for a leveraged structured note product linked to BlackRock's iShares Bitcoin Trust (IBIT) ETF. This product would allow investors to bet on the future price of Bitcoin.
According to the prospectus, if the price of the IBIT ETF is equal to or higher than the preset price by December 21, 2026, JPMorgan will redeem the notes early, paying at least $160 per note (priced at $1,000).
However, if the price falls below the preset price at that time, the note will continue to be held until 2028. In this scenario (if approved by the SEC), investors would be able to obtain a 1.5x return on the increase in Bitcoin's price, potentially resulting in an "uncapped" huge return. This means that if Bitcoin surges by 2028, the amplified returns could be substantial.
However, the document also points out that if the price of Bitcoin falls sharply (40% or more), investors will lose most of their initial investment. JPMorgan warns that Bitcoin has historically exhibited high price volatility relative to traditional asset classes and may continue to experience extreme volatility.
Bloomberg ETF analyst James Seyffart stated that banks are "very common" at doing this with "any asset you can think of." (Decrypt)
Franklin Templeton has filed Form 8-A for its Solana spot ETF.
According to SolanaFloor, Franklin Templeton, which manages over $1.66 trillion in assets, has filed Form 8-A with the U.S. Odaily Commission (SEC) for its Solana spot ETF. This filing is typically made before the product's official launch, with trading expected to begin the following day.
Grayscale submits Form S-3 to apply for a Zcash ETF
According to market Odaily, Grayscale has filed an S-3 form with the U.S. Securities and Exchange Commission to apply for a Zcash ETF.
According to Odaily Odaily, Nasdaq-listed Bitcoin mining company CleanSpark released its 2025 financial report, disclosing that the company's total revenue for the fiscal year ending September 30, 2025, was $766.3 million, a 102.2% increase over the previous year, and net profit was $364.5 million.
In addition, the company holds approximately 13,011 bitcoins, with a market value of approximately $1.2 billion, along with $43 million in cash, mining assets worth approximately $950 million (including prepaid mining funds and deployed mining equipment), and $1 billion in working capital. (PRNewswire)
According to Odaily Odaily, Nasdaq-listed digital wealth management platform Amber International's board of directors approved a 12-month stock repurchase program of up to $50 million. The company also announced its unaudited third-quarter 2025 results: revenue of $16.3 million, a year-over-year increase of 1,934.6%; gross profit of $11.8 million, with a gross margin of 72.3%; net income from continuing operations of $2.15 million; adjusted EBITDA of $2.9 million; and platform client assets of $1.842 billion, a year-over-year increase of 69.8%.
Odaily Odaily reports that Binance has announced a complete upgrade to its Meme leaderboard, now supporting all tokens issued through http://Four.Meme , including X-mode and Free Mode tokens. It utilizes optimized Binance Wallet-specific metrics, which will also be a key factor in the Binance Alpha launch.
Project News
Odaily Odaily reports that Uniswap Labs announced on the X platform that its Uniswap fee switch proposal contract has been deployed to the Ethereum mainnet and is ready for on-chain voting. Anyone who discovers a serious vulnerability will receive a reward of up to $15.5 million.
Polygon CEO: Considering changing the POL token code back to MATIC
According to Odaily Odaily, Polygon CEO Sandeep posted on the X platform that, due to repeated feedback from the community that the MATIC token code is more recognizable than POL, they are considering whether to require exchanges to change the token code back from POL to MATIC.
Sandeep stated that while he personally prefers to maintain the status quo, the feedback he has received suggests that project decisions should not be based solely on the opinions of the crypto community (CT), as CT represents less than 5% of the total number of cryptocurrency traders. He expressed a desire to hear from the broader community but did not guarantee that exchanges would agree to the change.
Investment and Financing
Odaily Odaily reports that Nasdaq-listed Scilex Holding has announced the completion of its second investment in Datavault AI, paid for in Bitcoin (based on the spot Bitcoin price at the time the strategic investment agreement was signed). This investment gives Scilex 263,914,094 shares of Datavault AI common stock, worth approximately $583.3 million based on the closing price of $2.21 on November 25. (Globenewswire)
Paxos acquires crypto wallet startup FordeFi for over $100 million.
According to Solid Intel, Paxos has acquired crypto wallet startup Fordefi for over $100 million, according to Odaily Odaily.
Pruv Finance has raised $3 million in Pre-A funding, led by UOB Venture Management.
Odaily Odaily reports that Pruv Finance, a compliant RWA infrastructure provider, has announced the completion of a $3 million Pre-A round of financing. The round was led by UOB Venture Management, the venture capital arm of UOB, with participation from Saison Capital, Taisu Ventures, Ascent, Spiral Ventures, and Royal Group. The new funds will be used to support the development of its digital finance platform to help institutional users tokenize and distribute RWA assets on-chain. (fintechnews)
Regulatory policies
According to Odaily Odaily, the number of initial jobless claims in the United States for the week ending November 22 was 216,000, the lowest since the week ending April 12, 2025. The expected number was 225,000, and the previous number was revised from 220,000 to 222,000.
The four-week moving average of initial jobless claims in the United States for the week ending November 22 was 223,750, revised from the previous week's figure of 224,250.
The number of Americans continuing to claim unemployment benefits for the week ending November 15 was 1.96 million, compared to a forecast of 1.969 million and a revised figure of 1.953 million for the previous week (originally 1.974 million). (Golden Ten)
New SEC guidelines may accelerate the approval process for crypto ETFs.
Odaily Odaily reports that the U.S. Securities and Exchange Commission (SEC) has released new guidance that could accelerate the approval timeline for crypto exchage-traded funds (ETFs).
These updates were released following a prolonged government shutdown that resulted in a backlog of over 900 registration filings. The SEC issued technical guidance outlining how issuers can proceed with ETF applications under Sections 8(a) and 461 of the Securities Act of 1933.
Thailand imposes a 0% capital gains tax on Bitcoin traded through its national exchange.
According to Odaily Odaily, The Bitcoin Historian posted on the X platform that Thailand currently imposes a 0% capital gains tax on Bitcoin traded through the national exchange.
Bolivia plans to incorporate stablecoins into the country's financial system.
According to market sources, Odaily's Minister of Economy announced plans to integrate stablecoins into the country's financial system, allowing banks to offer crypto-related savings accounts, credit cards, and loans.
Characters * Voices
According to Odaily Odaily, Delphi Digital analysts published an article on the X platform analyzing the current bullish and bearish structures forming for BTC.
A bullish scenario views the current price action as an ABC correction, which needs to be completed and broken above $103,500 to be confirmed.
The bearish scenario is that the current rally forms a lower high anywhere below $103,500, which would trigger the next wave of decline to complete a full 5-wave downward pulse before a larger, sustained rally can occur.
Tom Lee: ETH price is expected to reach $7,000 to $9,000 in January 2026.
According to Odaily Odaily, Tom Lee believes that ETH may fall to $2,500 in the short term, but could see a 3 to 4-fold increase by January next year, reaching $7,000 to $9,000.
Yi Lihua: ETH returns to $3,000, and remains optimistic about its future trend.
According to Odaily Odaily, Yi Lihua posted on the X platform that ETH has returned to $3,000, the extreme panic has passed, and he remains optimistic about the future market trend.
1confirmation founder: Polymarket's traffic may surpass Coinbase's by 2026.
According to Odaily Odaily, Nick Tomaino, founder of 1confirmation, stated on the X platform that the prediction market Polymarket has become one of the most visited websites globally, with 15.8 million visits in October, an 80% increase from August. In contrast, Coinbase's visits declined during the same period. Currently, some large financial institutions are injecting billions of dollars of liquidity into prediction markets, exploring prediction trading in areas such as sports, entertainment, and culture. More and more people are using Polymarket as a trusted source of information, and it is projected that Polymarket's platform visits will surpass Coinbase's by 2026.
