I. Crypto Market Overview

Key Takeaways

1.

Macro Environment

Global central banks are recalibrating policies amid persistent inflation and growth concerns, fueling volatility across risk assets. Regulatory clarity is advancing, with the EU's MiCA and US CFTC actions boosting institutional confidence. The global stablecoin market surpasses $300 billion, drawing heightened scrutiny from financial authorities.
2.

Crypto Market

The crypto market remains under pressure, with BTC at $97,474 (-4.43%) and ETH at $3,144.86 (-9.27%) over 24h, both declining on weak risk sentiment and ETF outflows. Altcoins broadly fell; DASH dropped 6.69% to $62.7, XMR slid 2.52% to $384.19, while MON surged 13.7% to $0.0465 on strong developer interest and high trading volume. Privacy coins outperformed, driven by institutional adoption and renewed demand for anonymity.
3.

Today's Outlook

Key events today include the US October PCE inflation release, Fed Beige Book, and jobless claims, all likely to impact macro sentiment. The HODL Summit 2025 opens in Dubai, spotlighting crypto trends, blockchain innovation, and DeFi evolution, potentially influencing sector narratives.
Fear and Greed Index
98.00% Annual Percentile
15 Fear
Total Crypto Market Cap
$2.99T
0.17%
Total Market Trading Volume
$130.44B
14.48%
Altcoin Season Index
27.27%
Quarterly Percentile
25 / 100
Total Futures Market Open Interest
4.66B
3.82%
Futures
864.85B
8.07%
Perpetuals

II. Industry Updates

Macro-economic Policies

1.

Australia's CPI inflation rose to 3.8% YoY in October, exceeding expectations and raising the likelihood of a rate hike at the December RBA meeting. Persistent inflation and potential monetary tightening may dampen risk appetite and impact crypto market liquidity.

2.

US Producer Price Index (PPI) for September 2025 increased by 0.3% MoM, matching forecasts and signaling cooling wholesale inflation. This supports expectations for a December Fed rate cut, which could boost risk assets like Bitcoin and DeFi tokens.

3.

Japan approved a 21.3 trillion yen stimulus package focused on household price relief, but concerns over fiscal health and a weak yen have driven JGB yields higher. Increased volatility in Japanese assets may spill over to global crypto markets, affecting BTC and stablecoin flows.

4.

The UK Office for Budget Responsibility's fiscal outlook leak caused GBP and gilt market volatility, with projections of expanded fiscal headroom. Such fiscal uncertainty can increase volatility in crypto-GBP trading pairs and impact DeFi protocols exposed to UK assets.

5.

Bolivia announced the integration of cryptocurrencies, starting with stablecoins, into its financial system and abolished wealth and transaction taxes. This policy shift is expected to enhance crypto adoption and liquidity in Latin America, supporting broader market growth.

Cryptocurrency Regulatory Trends

1.

The UK Financial Conduct Authority is piloting standardized crypto disclosures with major exchanges, aiming to enhance transparency and investor protection; this may boost institutional confidence in the UK crypto market.

2.

Blockrise has secured a MiCA license in the EU, enabling regulated Bitcoin financial services and business loans, signaling growing regulatory clarity and institutional adoption in Europe.

3.

Polymarket received CFTC approval to offer intermediated access for US users, allowing trading through registered brokerages and reflecting increased regulatory oversight of prediction markets.

4.

The global stablecoin market cap reached $304.6 billion, prompting renewed warnings from regulators about systemic risks and the need for coordinated global oversight, which may impact stablecoin adoption and market stability.

5.

Stablecorp launched QCAD, Canada’s first regulated CAD stablecoin, under a new national framework, potentially accelerating digital asset innovation and institutional participation in Canada.

Trending Tokens

1.

Monad (MON): Monad surged 13.7% in 24h to $0.0465, driven by $1.23B trading volume and recent all-time high, fueled by its high-throughput EVM-compatible Layer 1 and strong developer interest.

2.

DASH (DASH): DASH rose 13.1% in 24h to $61.85, with $174.9M volume, benefiting from renewed market interest in privacy coins and increased exchange activity.

3.

Monero (XMR): Monero climbed 5.9% in 24h to $398.13, supported by $176.7M volume, as privacy-focused assets gain traction amid rising demand for anonymous transactions.

Smart Money Movements

1.

Metaplanet secured a $130 million Bitcoin-backed loan on November 21, increasing its total borrowings to $230 million and Bitcoin holdings to 30,823 BTC, valued at $2.7 billion.

2.

DDC Enterprise acquired an additional 100 BTC at an average price of $106,952 each, expanding its total Bitcoin holdings to 1,183 BTC.

3.

Bitwise BSOL Solana ETF withdrew 192,865 SOL worth $26.39 million from Coinbase, raising its total Solana holdings to 4,317,187 SOL, valued at $587 million.

4.

An early Ethereum ICO participant sold 20,000 ETH for $58.14 million via FalconX, reducing their remaining holdings to approximately $757 million.

5.

18.5 million ENA tokens, valued at $5.17 million, were transferred from DoubleUp to Galaxy Digital, followed by further redistribution to another address.

Events to Watch

Nov 26 (Wed)

The US October PCE inflation data, Fed's preferred gauge, will be released; US Fed Beige Book and 4-week average jobless claims also due.

Nov 26 (Wed)

HODL Summit 2025 opens in Dubai, focusing on crypto trends, blockchain innovation, and DeFi evolution.

Nov 27 (Thu)

HIT Games Conference begins in Abu Dhabi, spotlighting blockchain and gaming industry convergence.

Nov 27 (Thu)

Canada to release Q3 current account deficit data, a key indicator for North American macroeconomic sentiment.

Nov 28 (Fri)

Eurozone's largest members to publish November national CPI figures; Canada to release September and Q3 GDP data.

III. Phemex Market Focus

New Listings

1.

Nov 24: (MON/USDT)

Phemex will list the new spot trading pair MON/USDT. Monad is a high-performance, Layer 1 blockchain compatible with Ethereum Virtual Machine (EVM).
2.

Nov 22: (BOB/USDT)

Phemex will be listing the new futures trading pair BOBUSDT, a linear USDT-margined contract supporting hedge mode with up to 20X leverage.

Phemex Promotions

1.

Trade BOB, LAB and CLO to share 30,000 USDT!

Participate in trading BOB, LAB, and CLO to share a total of 30,000 USDT rewards.
2.

MON CandyDrop

Trade to share 1,500,000 MON in our exciting CandyDrop event!
3.

6th Anniversary USDT Savings

Celebrate our 6th Anniversary with special USDT savings offers.
4.

Phemex 6th Anniversary Futures Celebration

Join our 6th Anniversary Futures Celebration with exclusive trading opportunities.
5.

Phemex 6th Anniversary Event

Celebrate Phemex's 6th Anniversary with exciting events and rewards.