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Quick Facts:

• $XRP’s recent volume acceleration, from $118K to $2.8M, signals institutional-style positioning rather than casual retail flows.
• If $XRP pumps above $2.16 and retains momentum, a sustained bull run may follow; if not a crash below $1.94 could follow.
• PEPENODE ($PEPENODE) introduces a mine-to-earn memecoin model, using virtual Miner Nodes and gamified rewards to replace hardware-based mining complexity.
• The presale is at over $2.1M so far, with a token price of $0.0011546 and staking rewards of 594%.

Crypto researcher Ripple Bull Winkle has flagged a structural shift in XRP flows that traders can no longer ignore.

Spot volume, which sat around $118K during periods of quiet accumulation, recently spiked to $2.8 million, then stabilized near $1.4 million per day.

That is not retail noise. That is a coordinated size.

For months, $XRP was a slow grind story. Larger wallets added incrementally during chop, using volatility as cover. Now, the tape looks different. Order books show thicker bids, aggressive market buys, and stacked open interest on derivatives venues.

When accumulation turns into velocity, it usually means one thing. A larger player, or set of players, is positioning for a scenario where $XRP breaks out of its range and drags liquidity across the majors and high-beta altcoins.

If that move materializes, capital rarely stays confined to the parent asset. It fans out into satellites: leveraged perps, small-cap narratives, and memecoins that can move 5-10 times faster.

That is where newer experiments like PEPENODE ($PEPENODE) start to matter.

The project sits at the intersection of two proven, reflexive trades: memecoins and mining incentives, and aims to remove the usual hardware and complexity barriers.

If XRP’s renewed energy spills into the long tail, miners without rigs and casual meme traders will look for accessible, gamified yield.

Buy your $PEPENODE on the official presale page today.

How An XRP Liquidity Wave Resets The Altcoin Playbook

When a large-cap asset experiences an xrp price surge in both volume and participation, correlations across the alt complex tighten. You see beta clusters form.

High-liquidity majors like $ETH and $SOL move first, then capital cascades into riskier plays that can outperform on a percentage basis.

$XRP could follow a similar path if it manages to reclaim and retain momentum above $2.16. If not, a crash to $1.94 could follow. Right now, the token trades at $2.12.

Fortunately, the coin shows signs of recovery, despite investors remaining bearish for the time being and turning their attention to more utility-based meme coins.

This is where the mine-to-earn niche is emerging. Instead of requiring GPUs or ASICs, it abstracts mining into software or game mechanics. Users spin up virtual miners, upgrade digital infrastructure, and receive rewards in meme-denominated assets.

Within that landscape, PEPENODE ($PEPENODE) is one of several experiments. Others focus on browser-based mining or social tasks. Some lean heavily into staking multipliers.

PEPENODE stakes its identity on binding virtual mining, tiered node power, and meme rewards like $PEPE and $FARTCOIN inside a single Ethereum-native ERC‑20 ecosystem.

You can buy your $PEPENODE off the official presale page today.

PEPENODE’s Mine‑to‑Earn Design And What The Market Is Pricing In

Zooming in, PEPENODE ($PEPENODE) frames itself as the “world’s first mine-to-earn memecoin,” but the more interesting angle is infrastructure. It tries to turn mining from a hardware arms race into a virtual, on-chain participation market living on Ethereum proof of stake.

Instead of buying GPUs, users acquire and customize tiered Miner Nodes, which are represented within the protocol.

Early adopters can secure more powerful configurations that, according to the design, carry higher reward coefficients over time.

Presale flows suggest that investors are willing to underwrite that optionality.

At the time of writing, the $PEPENODE sale has raised over $2.1M, with a token price of $0.0011546. For a project still pre‑gameplay, that is a meaningful vote of confidence in the model and the meme.

As a result, a realistic price prediction for $PEPENODE puts the token at $0.0072 in 2026, which would deliver an ROI of 523% based on today’s price.

Importantly, the model does not rely solely on passive holding. During the presale phase, buyers can stake tokens for a mouth-watering APY of 594%, reinforcing the “mine-to-earn” narrative before the full virtual mining suite launches.

Once live, rewards become more granular. Node power, facility upgrades, and in‑game decisions all influence yield.

If the $XRP-driven rotation into higher beta assets accelerates, projects like PEPENODE ($PEPENODE) that combine a familiar meme wrapper with a clear, gamified participation engine look well-positioned. Which means this is the perfect time to read our guide on how to buy $PEPENODE.

Visit the presale page and buy your $PEPENODE today.

This article is informational and educational only and should not be considered financial, investment, or trading advice.

Authored by Bogdan Patru, Bitcoinist: https://bitcoinist.com/xrp-price-surge-altcoin-rotation-pepenode-mine-to-earn

XRP traders were stunned after a single one-minute candle on Kraken’s XRP/USD pair showed price exploding to a high of $90.13 and collapsing to a low of $0.00286, before snapping back to around $2.179. The bizarre spike-and-crash sequence appeared only on Kraken, turning the candle into an instant talking point across the community.

Community member Kevin Cage was among the first to flag the anomaly, posting the chart on X with the comment: “XRP just got a super weird flashwick on Kraken and triggered my alerts..” The wick immediately raised questions, as the token on other major exchanges continued to trade normally around the $2 region with no corresponding move.

Has XRP ‘Really’ Hit $90?

In a widely shared response, community member Jay Grissom (@jfgrissom) offered a microstructure-based explanation. His summary was straightforward: “It could have been a really low volume order that was filled at a high price as part of [a] larger limit order.” Rather than a genuine, liquid market repricing, he framed the event as an artefact of how orders, cost basis and tiny trade sizes interact on an order book.

Grissom then “got on [his] cost basis is everything soap box” and used the token’s smallest unit, the “drop,” to illustrate the mechanics. One XRP equals one million drops, meaning you can trade extremely small fractions. If a trader buys just one drop, or 0.000001 XRP, for $0.01, then “technically” that micro-trade implies a price of $10,000 per token. On its own this looks absurd, but the notional size is only one cent.

He showed how that extreme micro-fill can vanish in the averages when embedded in a larger, normal-priced order. Suppose the same order also buys 5 XRP at $2.50 each, costing $12.50. Combined with the $0.01 spent on the single drop, the trader pays $12.51 for 5.000001 XRP.

The effective cost basis is about $2.502 per token. As Grissom put it, that single expensive drop “barely moves your average cost because it’s such a tiny fraction of your total holdings. You spent $0.01 on it versus $12.50 on everything else. The $10,000/token price point essentially disappears into statistical noise once it’s averaged against a meaningful position.”

What does not disappear is the trade print itself. Matching engines and charting systems still record the high and low of the candle at the exact prices where even dust-level trades occurred. In a thin order book, a handful of such anomalous fills is enough to generate a grotesque wick from sub-cent levels up to double-digit prices, even though the “real” market remains clustered near $2.

For traders, the Kraken episode is a textbook reminder that a dramatic candle on a single venue does not automatically signal genuine price discovery. Before treating a $90.13 high and a $0.00286 low as meaningful, it is essential to cross-check other exchanges and understand how tiny, irregular fills can distort low-timeframe charts in periods of fragile liquidity.

At press time, XRP traded at $2.146.

Stay Ahead with the Latest Insights of Today’s Trump Crypto News

Check out our Live Trump Crypto Updates for November 20, 2025!

US President Donald Trump is probably the most pro-crypto president in the world.

To name a few crypto initiatives proposed under his admin: the GENIUS and CLARITY acts, the crypto 401k initiative, the national US Bitcoin Reserve, and Trump’s dream to make the US the ‘crypto capital of the world.’

It’s not an exaggeration to call Trump the Crypto President. His Truth Social posts make or break crypto markets, and he’s even launched his own meme coin ($TRUMP).

Best of all, much of the current market’s bullish momentum is due to Trump’s pro-crypto agenda. Bitcoin and top altcoins have peaked thanks to his administration.

If you’re looking for the latest updates on Trump’s crypto policies before the market prices them, you’ve come to the to right place.

We update this page regularly throughout the day with the latest insider knowledge about Trump’s crypto moves. Keep refreshing to stay ahead of the pack!

Disclaimer: No crypto investment comes without risk. Our content is for informational purposes, not financial advice. We may earn affiliate commissions at no extra cost to you.

Historic XRP ETF Launch Meets PEPENODE’s Mine-to-Earn Spin on Trump Crypto

November 20, 2025 • 12:00 UTC

Bitwise’s new spot XRP ETF just hit NYSE Arca under the ‘XRP’ ticker, with a 0.34% management fee waived on the first $500M in assets for the first month, following Canary’s XRP ETF debut that saw $59M in day-one volume and $245M in net inflows.

That shift pulls XRP from pure exchange play into regulated portfolios, giving institutions cleaner exposure to a $2+ asset that still behaves like a high-beta macro hedge.

As these ETFs normalize crypto in traditional accounts, the next step for many investors is experimenting with on-chain yield that stays fully in crypto’s sandbox rather than in broker dashboards.

PEPENODE ($PEPENODE) rides exactly that angle as a ‘mine-to-earn’ memecoin built on Ethereum, where you buy virtual Miner Nodes and Facilities to simulate mining inside a gamified dashboard, earn boosted rewards as an early staker, and later compete on leaderboards for meme-coin bonuses.

With a community-first presale, no private rounds, smart contracts managing rewards, and $2.17M+ already raised at $0.0011546, you gain direct exposure to gamified yield that complements the ETF wave instead of competing with it.

Read our PEPENODE price prediction!

Dogecoin Whale Accumulation, Maxi Doge Presale, and the Next Trump Crypto Meme Wave

November 20, 2025 • 11:00 UTC

Dogecoin’s on-chain data just flipped net exchange position change back into positive territory, with price hovering around $0.158 near a 12-month support zone and trading at a 48% discount to September highs and roughly 80% below its all-time high.

Whales have scooped over $8 million worth of $DOGE spot in three days and opened more than $9 million in long positions, while open interest climbed from under $1.4 billion to $1.66 billion.

That mix of heavy discounts, sideways price action, and rising derivatives exposure usually signals renewed meme risk-on, but it doesn’t fix Dogecoin’s long-standing lack of utility.

Maxi Doge ($MAXI) is built as a response to that gap, keeping the Doge meme but adding real mechanics: an ERC-20 token with live staking, planned 100x–1000x leverage integrations, trading contests, and two independent audits confirming no mint functions, blacklists, or hidden taxes.

With $4.15M+ already raised at $0.000269, you get exposure to the same dog-coin liquidity cycle but with a product roadmap designed around speculation as a feature rather than a bug.

Here’s how to buy $MAXI right now.

From Tokenized Trump Hotels to SUBBD Token: Real-World Assets Meet Trump Crypto

November 20, 2025 • 10:00 UTC

Trump’s Maldives hotel deal with Saudi Arabia’s Dar Global is all about turning a luxury resort with roughly 80 villas into tokenized slices of ownership, so investors can get in at the development phase instead of waiting for ribbon-cutting day.

At the same time, Saudi Arabia has registered over 4,000 blockchain firms in 2025, grown that base by 51% year-on-year, and pushed $48 billion in crypto transactions across 3 million active users, while also planning a tokenized stock market.

That kind of scale shows tokenization isn’t a side quest anymore; it’s becoming the default way capital moves.

If you want exposure to that shift without tying everything to one region or property, SUBBD Token ($SUBBD) leans into the same on-chain ownership trend for the creator economy instead.

It powers a Web3 subscription and content platform, with staking, AI-driven creator tools, and audits backing the smart contracts, while its presale has already raised $1.35+ at just $0.056975 per token, leaving plenty of asymmetry if adoption ramps.

Read more about SUBBD Token in our guide.

AI-Fueled Nvidia Rally, Bitcoin Hyper Presale, and the Trump Crypto Rotation Trade

November 20, 2025 • 10:00 UTC

Nvidia just printed blockbuster Q3 numbers and helped pull $BTC back above $91,000 after a dip below $89,000, proving AI risk appetite is still very much alive even as a Bank of America survey shows 45% of fund managers see an AI bubble as the top market threat.

At the same time, the global crypto market has erased over $1T in value in six weeks, roughly a 25% drawdown, reminding you that high-beta narratives cut both ways.

When correlations between crypto and big tech climb, liquidity tends to favor infrastructure that can actually handle the next wave of throughput, not just fresh memes.

Bitcoin Hyper ($HYPER) targets that lane directly as a Bitcoin Layer-2 built on the Solana Virtual Machine, shifting $BTC from ~7 TPS to a high-throughput, seconds-level execution environment while a canonical bridge lets you deploy bridged Bitcoin into DeFi, NFTs, and gaming.

With security audits completed and $28.16M+ already raised at $0.013305, you’re effectively paying a presale price to front-run a potential liquidity rotation into Bitcoin scaling if the AI–crypto risk trade stays in play.

Buy $HYPER before the next price increase.

Authored by Ben Wallis, Bitcoinist — https://bitcoinist.com/trump-crypto-news-live-today-november-20-2025/

The recent reopening of the government may signal the beginning of an unprecedented surge in cryptocurrency exchange-traded funds (ETFs) in the United States, as noted by Bitwise’s Chief Investment Officer, Matt Hougan. 

This anticipated growth aligns with the emergence of pro-crypto regulations from the Trump administration and crypto-friendly regulators, led by the US Securities and Exchange Commission (SEC), the agency responsible for approving these funds. 

Crypto ETFs In Flux

Bitwise’s Matt Hougan is optimistic about the potential for new investment products in the sector. “We’re going to witness an ETF Palooza in Cryptoland,” he remarked during an appearance on CNBC’s “ETF Edge.”

He predicts that more than 100 new ETFs and exchange-traded products (ETPs) will launch in the coming year, emphasizing a focus on single-asset crypto ETPs. Most exciting for him, however, is the expected growth of index-based crypto ETPs.

Despite the challenges seen over the past month, with the overall crypto market decline led by Bitcoin’s crash below $90,000 on Wednesday, Hougan believes that index ETPs could emerge as one of the biggest stories in the crypto space next year.

“This industry will be 10 times bigger than it is today,” asserted Hougan, whose firm recently launched the Solana Staking ETF on October 28, designed to track Solana’s (SOL) price. 

Although Bitwise’s Solana fund has seen a 27% decline since its launch, it experienced a 9% increase on Tuesday, suggesting some resilience amid the broader market turmoil. 

The broader Solana ETF sector has seen a continuous 16-day inflow streak amounting to nearly $26 million. Meanwhile, Bitcoin ETFs have seen almost $2 billion in outflows since October, according to SoSoValue data. 

Tom Lee Believes Trump’s Support Will Spark New Opportunities

Bitwise’s passive fund stakes nearly all of its SOL tokens on-chain, contributing to transaction validation and network security while earning ongoing rewards that are reinvested back into the portfolio.

According to Hougan, these types of products target a new demographic of crypto investors—individuals looking to acquire smaller portions of digital assets for their portfolios. 

“They don’t necessarily have an opinion on Ethereum versus Solana or Bitcoin versus another asset; they just want to buy a broad swath of the crypto market and hold it for the long term,” he explained.

Echoing this sentiment, Tom Lee from Fundstrat Global Advisors also foresees a favorable shift in the market. A long-time proponent of Bitcoin, Lee cites increased openness from the Trump administration as a catalyst. 

“Experimentation and innovation are being encouraged by this administration,” he noted during the same interview with CNBC.

At the time of writing, Bitcoin is trading at $88,926, down nearly 30% from its all-time high. Solana has also retraced to the $131 mark, representing a 55% gap from current trading levels and record highs. 

Featured image from DALL-E, chart from TradingView.com 

An Asian Ethereum DAT project that was on the way has been cancelled after the bearish price trajectory, as reported by Wu Blockchain.

Ethereum DAT Project By Leading Asian Whales Has Been Canned

Last month, Bloomberg reported that some influential investors in Asia were gearing up to launch an Ethereum trust. The group involved the likes of Li Lin, founder of Huobi cryptocurrency exchange, Shen Bo, co-founder of Fenbushi Capital, and Xiao Feng, chairman and CEO of HashKey Group.

At the time, the investors were in talks to acquire a NASDAQ-listed entity to facilitate the digital-asset treasury (DAT) structure, with the project already boasting a backing of $1 billion.

According to a report from Wu Blockchain, however, that project has now been cancelled. “The US$1 billion Ethereum DAT proposed by leading Asian crypto investors has been shelved, and the committed capital has been returned,” wrote Wu Blockchain.

Of the $1 billion backing, $200 million came from investment firm Avenir Capital alone, of which Huobi’s Li is a chairman. Another $500 million was provided by Asian institutional investors like HongShan Capital Group.

Popularized by Michael Saylor’s Strategy (formerly MicroStrategy), a DAT company is a public entity that makes a digital-asset reserve its main business. Earlier, firms mostly focused on using Bitcoin in this type of strategy, but 2025 has seen a push into altcoins like Ethereum and Solana.

BitMine, which is currently the largest ETH DAT and second-largest overall after Strategy, adopted its ETH reserve strategy in June of this year. According to a Monday press release, the company holds 3,559,879 tokens, bought for a total of $11.1 billion.

Unlike BitMine, the Asia-led DAT project appears to have been halted before it could launch. “Sources said the plan was halted mainly due to the market downturn following the sharp October 11 sell-off,” revealed Wu Blockchain.

Ethereum has been in freefall alongside the wider cryptocurrency sector since this crash, with its price being down over 38% compared to its October high. As a result, BitMine’s holdings have gone underwater. At the current exchange rate, its holdings are valued at $10.3 billion, roughly 7% below cost basis.

The ETH network as a whole has its average cost basis (“Realized Price“) located at $2,316, as CryptoQuant community analyst Maartunn has pointed out in an X post.

Given this, the average investor is still in a profit of about 24%. Earlier, when Ethereum was trading around its high, profitability reached an extreme level. So compared to that, there has been a bit of a cooldown. “Momentum is cooling off as the market takes a breather,” noted Maartunn.

ETH Price

Ethereum has suffered another 5% drop in the past day that has sent its price to $2,880.

The recent crypto crackdown from the Democratic party, spearheaded by crypto-skeptic Senator Elizabeth Warren, may cast a shadow over the future of the decentralized exchange (DEX) Hyperliquid (HYPE). 

This heightened scrutiny stems from concerns surrounding the crypto ventures associated with President Donald Trump’s family, specifically focusing on World Liberty Financial (WLFI).

National Security Concerns Over WLFI’s Sales

In a letter dated Tuesday, US Senators Warren and Jack Reed, who serve on the Senate Committee on Banking, Housing, and Urban Affairs, expressed apprehensions that WLFI might pose national security risks. 

The letter, which was exclusively obtained by CNBC and addressed to Attorney General Pamela Bondi and Treasury Secretary Scott Bessent, outlined the senators’ belief that World Liberty Financial lacks sufficient safeguards to prevent malicious actors from manipulating funds or exerting influence over its governance.

The senators referenced a report by the nonprofit watchdog Accountable.US, which indicated that WLFI had sold its WLFI tokens to “various highly suspicious entities.” 

On-chain sleuth ZachXBT brought attention to the fact that WLFI raised an impressive $550 million during its token sale, but the senators accused it of having raised around $10,000 from illicit sources. 

ZachXBT noted that this figure represents merely 0.0018% of the total World Liberty Financial token sale, highlighting the disproportionate nature of the allegations.

The investigator expressed concern over the potential misuse of “weak illicit funds” arguments by US regulators against the crypto industry. He suggested that if the actions against WLFI prove successful, Hyperliquid could become a target next. 

While ZachXBT did not provide specific reasons for why Hyperliquid might be affected, speculation surrounds WLFI’s native token trading on the Hyperliquid platform. 

Moreover, Hyperliquid recently incurred a loss of $4.9 million due to the external manipulation of the POPCAT token, where attackers artificially inflated the token’s price using $3 million in Circle’s USDC stablecoin, which could also catch the Senator’s attention if any action against the exchange materializes. 

Hyperliquid Unveils ‘Growth Mode

Despite the challenges, Hyperliquid introduced a new feature under its HIP-3 upgrade framework, aimed at significantly reducing trading fees for newly launched markets. 

Dubbed “growth mode,” this upgrade reduces all-in taker fees by more than 90%, a move designed to accelerate liquidity formation and incentivize market makers engaging in nascent perpetual contracts.

Since its launch, Hyperliquid’s native token, HYPE, has experienced notable growth, skyrocketing by 1,000%. This surge has elevated Hyperliquid to rank as the 18th largest cryptocurrency in the world, boasting a market capitalization of $10 billion.

However, when writing, HYPE trades at $37.31, recording losses of over 9% in the past fourteen days. After reaching a record high of $59.30 earlier this year, the token has retraced by almost 37%, in line with the broader crypto market’s correction. 

Featured image from DALL-E, chart from TradingView.com 

On-chain data shows XRP retail investors are up 60% even after the market downturn. Here’s how the figure compares for Bitcoin and Ethereum.

XRP Retail Realized Price Puts Profit Margin Around 60%

In a new post on X, on-chain analytics firm Glassnode has discussed how retail profitability compares between the top assets in the sector: Bitcoin, Ethereum, and XRP. Retail investors refer to the smallest of entities in the market, who don’t hold a significant balance on an individual level (typically less than $1,000). To calculate the profit-loss balance of this cohort, Glassnode has made use of the Realized Price indicator.

The Realized Price measures the average cost basis or acquisition level of a given segment of the network. When the asset’s spot price trades above this level, it means the group is in a state of net unrealized gain. On the other hand, it being under the metric implies the dominance of loss among the cohort members.

First, here is a chart that shows the trend in the Realized Price for the retail investors on the XRP network:

As displayed in the above graph, XRP has witnessed bearish price action recently, but its price still has a notable gap over the Realized Price of the retail entities. More specifically, this group is in an average profit of 60% right now. Ethereum retail holders are also in the green, but their profitability isn’t quite as good, sitting at 40%.

 

Both XRP and Ethereum, however, pale in comparison to Bitcoin. Even after the price crash, BTC retail addresses are still in an average profit of more than 100%.

Now, what are retail investors doing with their profits? On-chain analytics firm Santiment has shed light on the matter in an X post. As the chart below for the holdings of this cohort shows, selling has occurred on all three networks recently.

Bitcoin retail was accumulating until the latest price plunge, but this bearish wave has spooked them into selling 0.36% of their supply over the last five days, which is the highest rate of distribution in two months. Ethereum retail has been exiting for a while now, and the trend has only continued during the past month as the cohort’s holdings have gone down by 0.90%. XRP’s small hands have shown a more mixed behavior, first participating in a sharp selloff, and then following on with slight accumulation. Overall, the group’s supply is down 1.38% since the start of November.

“Prices move the opposite direction of small wallets’ behavior,” noted Santiment. “So we’re keeping an eye on retail traders continuing to panic sell as a positive sign for crypto’s recovery.”

XRP Price

XRP has fallen alongside the rest of the market as its price has returned to $2.13.

Mastercard is taking a major step toward simplifying how everyday users interact with digital assets by leveraging the Ethereum and Polygon network.

Related Reading: Hoskinson Vs. Cardano Foundation: From Berlin Parties To ‘Useful Idiots’

Through a new collaboration with Polygon Labs and payments infrastructure firm Mercuryo, the global payments giant is rolling out email-style wallet aliases designed to make crypto transfers feel as intuitive as sending a message online.

The upgrade expands Mastercard’s Crypto Credential program to self-custody wallets, replacing long, technical wallet addresses with human-readable IDs. For millions of users intimidated by complex hexadecimal strings, this shift could mark a turning point in mainstream crypto adoption.

A New Identity Layer for Self-Custody Wallets

Under the new system, users can link wallets such as MetaMask to a verified alias issued through Mercuryo. After completing standard KYC checks, the user receives a simple username, similar to an email handle, that directs crypto to their self-custody wallet.

Polygon powers the underlying infrastructure, offering low-cost transactions and rapid settlement. Wallets can also mint a non-transferable “soulbound” credential on Polygon, publicly confirming that they belong to a verified user.

Mastercard states that this structure supports regulatory compliance, including Travel Rule requirements, without requiring users to relinquish control of their private keys.

Early access focuses on receiving funds through aliases, with outbound sending expected later. Mastercard notes that this framework is designed as a portable verification layer that can be moved across apps, wallets, and blockchains within the broader Crypto Credential network.

Why Mastercard Picked Polygon for the Rollout

Polygon’s selection as the first supported network reflects its growing reputation as a consumer-grade blockchain built for global-scale payments. Its upgrades, including the Rio and Heimdall v2 updates, have boosted throughput, improved finality, and reduced the risk of chain reorganizations.

With billions of dollars in stablecoin activity flowing through Polygon every month, analysts say the network offers the reliability and low operating costs that large institutions demand.

Polygon Labs CEO Marc Boiron called the initiative “the moment when self-custody becomes simple,” noting that alias-based transfers make blockchain interactions resemble familiar fintech experiences rather than technical workflows.

Shaping the Future of Identity-Driven Web3 Payments

For Mastercard, this rollout aligns with its broader strategy to bridge traditional finance and decentralized networks. The company has been expanding crypto services across 2024 and 2025, from debit card programs to on-chain settlement pilots.

By embedding identity, verification, and user-friendly interfaces into self-custody systems, Mastercard and Polygon are helping shape the next generation of digital payments.

Related Reading: What Happens To The Ethereum Price If It Replicates Bitcoin Supercycle?

If adopted widely, alias-based transfers could redefine how users engage with Web3, lowering barriers and accelerating mainstream participation in blockchain-based finance.

Cover image from ChatGPT, ETHUSD chart from Tradingview

XRP is under heavy selling pressure as fear spreads across the crypto market, pushing sentiment into one of its most fragile stages of the cycle. What was once a euphoric rally earlier this year has steadily shifted into denial among long-term holders — and now anxiety is beginning to dominate. With XRP flirting dangerously with a drop below the $2 mark, investors are watching closely, aware that this level carries major psychological and structural weight.

For now, XRP has managed to hold above $2, but the defense of this threshold is becoming increasingly difficult as liquidity thins and macro uncertainty intensifies. A break below this zone could trigger a deeper reset, while a successful rebound would reinforce it as a key long-term demand area.

This shift in sentiment is also reflected in on-chain metrics: long-term holders, previously sitting comfortably in profit, are now watching their unrealized gains compress. Historically, transitions from euphoria to denial and into anxiety have often preceded major market inflection points, making the current moment especially significant.

XRP NUPL Signals Growing Market Anxiety

Analyst Ali Martinez shared new data showing that XRP’s Long-Term Holder Net Unrealized Profit/Loss (NUPL) has now dropped below 0.5 — a level that historically marks a transition from confidence to growing anxiety among holders.

NUPL measures the difference between the total unrealized profit and loss in the network, helping identify where investors stand emotionally within the market cycle. When NUPL is above 0.5, it typically reflects optimism or belief, often associated with rising prices and strong conviction. But when it falls below 0.5, sentiment weakens, indicating that investors are no longer comfortably in profit.

XRP dipping below this threshold means a significant portion of the market is losing confidence as unrealized gains shrink. Investors who were previously sitting on sizable profits are now seeing those margins erode, pushing them into a more defensive psychological state. Historically, this signals that the market is shifting toward anxiety — a stage where many holders begin doubting whether upside momentum will return.

This decline in NUPL aligns with XRP’s current price behavior near the $2 support level, emphasizing how fragile the market has become. While anxiety can fuel panic selling, it has also marked the beginning of long-term accumulation phases in past cycles. The next move for XRP may depend on whether fear intensifies — or whether strong hands step in to absorb supply.

Testing Critical Support as Selling Pressure Deepens

XRP continues to trade under heavy selling pressure, with the chart showing a clear series of lower highs and persistent failures to reclaim key moving averages. The price is now hovering near $2.14, testing a crucial support zone that has repeatedly acted as a psychological and structural level for buyers throughout the year. Each attempt to break above the 50-day and 200-day moving averages has been met with rejection, signaling that momentum remains firmly on the side of the sellers.

Volume has gradually increased during recent downswings, suggesting that the sell-offs are driven more by capitulation than simple profit-taking. The sharp decline toward $1.20 in October still stands out as a sign of extreme volatility and liquidity stress, and although XRP quickly recovered from that anomaly, it highlighted how fragile the market structure had become. Since then, price has failed to establish a sustained uptrend, instead forming a tighter and more compressed consolidation beneath the major moving averages.

If the $2 support level breaks decisively, XRP could revisit deeper liquidity pockets around $1.75–$1.90, where buyers previously stepped in during September. However, holding above $2 would keep the possibility of a recovery alive, especially if market sentiment stabilizes.

Featured image from ChatGPT, chart from TradingView.com

Solana (SOL) is under intense market pressure after a massive $201 million token transfer on November 17 sparked concerns about further losses.

While institutional interest in Solana-based ETFs remains strong, technical indicators point to a fragile market structure that could send SOL toward the $125–$120 region if buyers fail to regain momentum.

$201M Dump Raises Alarms as Solana Extends Downtrend

Forward Industries, Solana’s largest corporate holder, moved 1.44 million SOL, worth roughly $201.34 million, to Coinbase Prime earlier this week, according to Onchain Lens. The transfer triggered speculation of an impending major sell-off, especially as Solana has already declined nearly 50% over the past two months.

Although it remains unclear whether the tokens were sold or repositioned, the market reaction was swift. SOL briefly dipped to $128 before recovering to the $137 range. Trading volume, however, has declined by 38% to $5.65 billion, indicating elevated trader anxiety and aggressive repositioning.

Technically, SOL remains in a confirmed downtrend after losing the critical $155 support level. Indicators such as the Chaikin Money Flow (CMF) at -0.18 and a bearish Supertrend signal show persistent selling pressure.

If the price remains below the current consolidation zone, analysts warn of a potential 16% drop, placing $120 firmly in sight.

Institutional Inflows Persist Despite Price Weakness

The irony in Solana’s current situation is striking. Despite a weekly drop of 11%, institutional confidence is slowly picking up pace. Solana ETFs have rapidly expanded across major U.S. exchanges, with Fidelity, Canary, VanEck, 21Shares, and Bitwise all launching new SOL products in recent days.

Fidelity’s $FSOL recorded $2.07 million in day-one inflows, while total net inflows across all U.S. Solana ETFs have soared to $420.4 million. Meanwhile, November 18 marked the 15th consecutive day of positive ETF inflows, totaling $26.2 million, led by Bitwise’s BSOL.

This reflects a deeper narrative: institutional investors see Solana’s long-term fundamentals, speed, developer activity, and staking yields as compelling despite short-term volatility.

Key Levels: Can SOL Hold Above $130?

Analysts now highlight $125 and $120 as the most critical support zones. A failure to defend $130 could accelerate losses toward $120, with a deeper floor at $115. Conversely, a reclaim of $145, and ideally $160, would signal the first meaningful reversal in weeks.

For now, Solana sits at a crossroads. Heavy selling pressure on one side, surging institutional conviction on the other. The next few days may determine whether SOL stabilizes or slides deeper into bearish territory.

Cover image from ChatGPT, SOLUSD chart from Tradingview

Dogecoin is now moving closer than ever to joining the roster of cryptocurrencies with their own US-listed exchange-traded funds, and the timeline for the first launch is becoming clearer. 

After a series of regulatory filings and updates from major fund issuers, analysts now believe that the debut of the first Spot Dogecoin ETF is just days away. All signs now point to a launch window that could open as early as Monday, bringing the long-anticipated product to market far sooner than many expected.

Grayscale Positions Its Dogecoin ETF For A Close Launch

The clearest signal came after Grayscale updated its Dogecoin ETF filing, which started a 20-day countdown under the SEC’s new fast-track listing rules. These rules allow certain crypto ETFs to go live without the lengthy and restrictive approval process that previous products faced. 

Unless the SEC steps in with an objection, the end of this 20-day window will become the launch date of the proposed ETF. Based on the timing of Grayscale’s amendment, the first Spot Dogecoin ETF could debut as early as Monday, November 24.

Eric Balchunas, senior ETF analyst at Bloomberg, provided the clearest timeline so far. He stated: “Based on 20 20-day clock, I believe Grayscale will be out with the first Doge ETF in a week, 11/24.”

His comment follows the expectation that the first Dogecoin ETF could go live before the end of November. Balchunas also shared the S-1 document image to show the structure of the filing that initiated the countdown.

Solana ETF Approval Shows The New SEC Pathway Is Working

The optimism surrounding Dogecoin’s ETF launch grows stronger when looking at what happened with Solana. VanEck successfully launched its Solana ETF this week with staking rewards and temporarily waived fees to attract early inflows. Fidelity also stepped into the arena with its own Solana ETF, FSOL, which recorded $2.07 million in inflows on its first trading day. 

That product went live under the same SEC listing framework now guiding Dogecoin’s filing. Its smooth debut confirmed that the new process is functioning as intended, with issuers able to bring crypto ETFs to market far more quickly than in earlier cycles. This sets a meaningful precedent because Dogecoin is next in line to benefit from that same pathway.

Although Grayscale is expected to launch first, it may not remain the only DOGE ETF for long. Bitwise submitted an amendment to its own DOGE fund earlier in November, which activated a similar 20-day timeline. If the schedule holds, Bitwise’s Spot Dogecoin ETF could list the following week.

At the time of writing, Dogecoin is trading at $0.1586, up by 2% in the past 24 hours.

Japan has officially elevated Shiba Inu (SHIB) into its highest-tier crypto compliance category, placing it alongside Bitcoin and Ethereum. This milestone reflects a clear shift in how Japanese regulators view SHIB, recognizing it as more than a speculative token and validating its advancement into a government-approved digital asset. The designation is expected to reshape market perception, facilitate faster exchange listings, and enhance Shiba Inu’s readiness for participation at an institutional level within one of the world’s most tightly regulated financial markets.

Shiba Inu’s Green-List Recognition Alongside Bitcoin And Ethereum

The Japan Virtual and Crypto Assets Exchange Association (JVCEA), operating under the Financial Services Agency, has added SHIB to its Green List. This whitelist is reserved for assets demonstrating strong liquidity, broad exchange presence, and consistent operational performance. Being included on the Green List signals regulatory confidence and allows domestic exchanges to list Shiba Inu without undergoing lengthy, asset-specific vetting procedures. For ecosystem operators and liquidity providers, this reduces barriers to entry, improves the efficiency of capital allocation, and expands Shiba Inu’s reach across Japan’s compliant digital-asset infrastructure.

The Green List also carries significant symbolic weight. Only a handful of digital assets—including Bitcoin and Ethereum—have historically received this designation, according to the JVCEA’s November 12, 2025, update. Being recognized alongside these benchmark cryptocurrencies positions SHIB as a more credible and professionally managed asset, helping it shed some of the skepticism associated with meme-based tokens.

Japan is also reviewing its cryptocurrency taxation framework. Current policy discussions propose reducing the tax rate on approved, Green-Listed assets from the highest income brackets to roughly 20%. If implemented, this reform could materially enhance Shiba Inu’s appeal to both retail and institutional investors, creating a strong incentive for participation in a lower-tax, regulated environment. Analysts suggest that aligning regulatory recognition with favorable tax treatment could lead to a significant rise in compliant inflows once the reform is enacted, further supporting liquidity and adoption.

Impact On Market Positioning And Future Capital Flows

This recognition comes at a critical time for Shiba Inu, which has been upgrading its infrastructure and reorganizing its ecosystem to move beyond a meme-asset reputation. Japan’s formal approval confirms SHIB’s improved risk profile and signals to global markets that it has reached a more regulated, professionally governed stage of adoption. 

Licensed exchanges in Japan can now deploy new Shiba Inu markets, structured products, and liquidity channels with shorter compliance timelines. Increased accessibility encourages higher transactional activity, strengthens liquidity, and improves SHIB’s suitability for institutional participation. The Green-List status also positions SHIB for future inclusion in regulated investment vehicles, such as exchange-traded notes and custodial products, pending further approvals.

By joining Bitcoin and Ethereum in Japan’s top compliance tier, Shiba Inu secures a significant step forward in global credibility, institutional acceptance, and its potential to attract future capital flows.

Bitcoin mining firm Bitfury announced plans to step beyond mining with a major new investment push.

According to reports, the company will launch a $1 billion technology fund after 14 years focused mainly on emerging tech such as artificial intelligence, quantum computing and decentralized identity systems.

The move signals a change of direction for the firm founded in 2011, which built its reputation on hardware and data center operations.

The $1B Fund Will Be Deployed Over Several Years

According to a press release, Bitfury intends to put roughly $200 million to work in the first year, with the remainder to follow over the next several years.

The firm says some capital could be deployed as early as Q4 2025. Company leaders told reporters that the money will come from a mix of returns from mining operations, past investment gains and outside backers.

Val Vavilov, the chief executive, has been named in reports as a key proponent of the shift.

The Fund Will Target AI, Quantum And Identity Tech

Bitfury has already invested in related infrastructure. Based on reports, the group helped build companies that handle data center cooling and AI hardware — assets that could support startups that need heavy compute.

Investors and founders in those sectors were quoted as saying Bitfury’s experience in physical infrastructure gives it a practical edge when backing capital-hungry projects.

Still, success is not guaranteed. Finding the right startups will be hard work, and competition from established venture firms is strong.

Why The Company Is Changing Focus

According to the company’s public comments, leaders see a link between secure, transparent systems and next-generation AI tools.

They argue that building technology that protects user identity and privacy will be important as AI systems grow more powerful.

The fund will emphasize what Bitfury calls “ethical emerging technologies,” a phrase the company uses to describe projects that combine technical innovation with safeguards for users.

Existing Strengths And Risks

Bitfury’s past moves show it can build hardware and run big operations. Reports note its ties to outfits working on immersion cooling and AI chips, which could make the company a useful backer for founders who need both money and infrastructure.

But running a large investment program is different from running mines. Picking winners in AI and quantum computing is competitive. Market swings, fast technology change, and unclear rules around crypto and identity systems add to the challenge.

Governance, Timing And What Comes Next

Based on reports, the fund’s governance model and detailed investment rules have not been fully public. Observers say those details will matter to prospective startups and co-investors.

Bitfury plans to move cautiously at first while still making a sizable first-year commitment. Some investors welcomed the news, while other analysts urged caution.

For now, Bitfury’s plan is clear in scale and ambition: $1 billion, early deployment in Q4 2025, and a first-year push of $200 million. How well the firm adapts from miner to investor will be watched closely by the tech and crypto communities.

Featured image from Shutterstock, chart from TradingView

XRP investors are facing their most challenging moment of the year as new on-chain data reveals a sharp decline in profitable supply. The current market appears incredibly fragile, despite the token trading significantly higher than its price from the previous year. The latest statistics indicate growing pressure among investors and a weakening market structure, which have contributed to the significant profit loss this year. 

XRP Investors See Worst Profit Loss Since 2024 

Fresh on-chain data from Glassnode, shared on X social media, shows that the portion of the XRP supply in profit has decreased to 58.5%. This is the lowest level ever recorded since November 2024, when the cryptocurrency was trading near $0.53. What’s alarming about this low stat is that the decline in investors’ profit is happening despite the altcoin currently trading more than 4X its price in 2024. 

At the time of writing, the cryptocurrency is trading at $2.15, but despite this higher price advantage, 41.25% of the circulating supply, roughly 26.5 billion XRP, remains underwater. Glassnode has revealed that this substantial decline indicates that the market is heavily saturated by late buyers who accumulated tokens near cycle highs and are now anchoring the supply with unrealized losses. 

Notably, this setup has resulted in a heavy and unstable market structure. Many holders are either unable or unwilling to sell without locking in losses, which leaves them trapped and limits liquidity. This imbalance creates a fragile environment in which even moderate selling could intensify downward pressure during periods of stress. The chart accompanying Glassnode’s report illustrates how quickly the share of profitable supply declines and how investors’ sentiment flipped once XRP failed to maintain its earlier momentum and strength. 

Supply Shock Narrative Intensifies As Exchange Balances Shrink

A separate analysis by crypto analyst @RemiReliefX focuses on the rapid drawdown of the token available on exchanges. According to his report, exchange wallets held around 5 billion XRP last week. However, that number has since fallen to about 2.8 billion after the release of a single XRP ETF. 

The abrupt decline in exchange balances has prompted speculation about how quickly liquidity could dry up if FOMO from both institutional and retail participants begins. The analyst emphasized that he had previously warned of a supply shock, citing Ripple CEO Brad Garlinghouse, who also hinted that low supply could escalate price pressure. 

@RemiReliefX has made a bold prediction, forecasting that XRP could reach $1,000 by the end of the year. Such a move would amount to a 46,600% increase from its current price of about $2.15 in less than two months. The analyst also went further, projecting that the market could see the altcoin explode to $1,700 during this bull cycle.

Bitcoin’s price is under heightened bearish pressure as it falls back to the $90,000 level, raising the potential of the beginning of a bear market phase. With the price of BTC dropping fast, selling pressure is rising rapidly in the market, which is extending into the institutional landscape.

Are Bitcoin Institutional Investors Exiting?

In a significant development, several large corporations are starting to react strongly to the ongoing correction in Bitcoin’s price. As market volatility increases, institutional investors, who were once seen to be the stabilizing force driving Bitcoin’s maturation, are now starting to unwind some of their holdings.

Related Reading: Massive Bitcoin Outflow Hits Galaxy Digital Wallets: 1,531 BTC Moved

One of the most recent corporations that has recently gone on a selling spree is Digital Galaxy. Galaxy Digital has secretly started to sell off some of its Bitcoin holdings, signifying a significant change in conduct from one of the most powerful institutional stakeholders in the sector. The firm’s decision to begin selling BTC after months of consistent accumulation and long-term strategy is causing controversy in the cryptocurrency space.

According to Darkfost, the firm, championed by billionaire and investor Mike Novogratz, has been quite active over the past few weeks, selling off thousands of its BTC stash at a rapid rate. During this period, Galaxy Digital transferred more than 2,800 BTC for the purpose of selling. 

Data shared by the expert revealed that 1,474 BTC valued at $135 million were moved to America’s leading cryptocurrency exchange, Coinbase Prime, within a few hours. Darkfost stated that this selling pressure is likely to extend the ongoing downward trend of Bitcoin’s price. 

Sales are still mostly under control, but they show signs of strategic repositioning in the face of increasing volatility and changing macro signals. Meanwhile, should the trend become highly popular among institutional investors, it could impact the course of BTC in the upcoming weeks and months.

BTC’s Current Downtrend Driven Largely By Long-Term Holders

Since the sharp pullback in Bitcoin’s price, many developments have been linked to the decline. However, the one that stands out the most is the negative action of long-term BTC holders or old Bitcoiners in the market.

Related Reading: Bitcoin Buyers Step In: Largest Accumulation Wave Emerges In the Heart of Market Fear

As reported by Ki Young Ju, the founder and Chief Executive Officer (CEO) of CryptoQuant, the current dip is a result of long-term BTC holders rotating among themselves. Old Bitcoiners are selling their coins to TradFi players, who will likewise hold for the long run.

At the beginning of the year, Young Ju predicted that BTC had reached a top, putting an end to the bull cycle. The increased selling pressure from OG whales supported his forecast. Meanwhile, current trends show that the market structure has shifted, with ETFs, MSTR, and other new channels persistently adding fresh liquidity.

Despite waning price performances basically caused by OG whales dragging the market, on-chain inflows remain strong. These days, corporate treasuries, multi-asset funds, pension funds, and sovereign funds are creating even larger liquidity channels. Young Ju claims that as long as these liquidity channels stay active, the cycle theory is dead.

As retail sentiment reaches its lowest level in months, institutional players have continued to show interest in the crypto industry, regardless of the market’s performance, signaling long-term confidence in the sector with their expansion to multiple blockchains, such as the BNB Chain and Ethereum.

Institutions Show Confidence As Crypto Market Struggles

On Wednesday, the BNB Chain unveiled a new milestone for its Real-World Asset (RWA) ecosystem, which has been driven by the ongoing institutional demand despite the market’s ongoing correction.

The crypto market has reportedly wiped out over $1.1 trillion in market capitalization over the past month and a half, driven by a series of massive liquidations and strong selling pressure since early October, which has shrunk retail investors’ sentiment to multi-month lows.

As reported by Bitcoinist, sentiment across the market has fallen to its lowest levels since March, recently reaching the Extreme Fear zone in the Fear & Greed Index. The index measures the predominant sentiment in the crypto market, ranging from 0 to 100.

Amid the broader correction, market sentiment had been moving between the Neutral and Fear zones. However, last week’s performance, which sent Bitcoin (BTC) below the key psychological $100,000 barrier, caused the score to plunge below the 20-point level, and it has been hovering within the Extreme Fear zone for the past five days, currently sitting at 16.

Despite retail sentiment, institutional investors have continued to bet on the industry’s long-term potential with the launch of multiple Digital Asset Treasury (DAT) strategies, altcoin-based Exchange-Traded Funds (ETFs), and the expansion of tokenized Real-World Assets across chains

According to the Wednesday announcement, the BNB Chain now leads global adoption of Circle’s interest-bearing stablecoin US Yield Coin (USYC) after launching on the network in July.

The asset, which recently surpassed $1 billion in total supply, now has over $900 million of its supply on the BNB Chain, adding to the network’s momentum in one of the fastest-growing sectors in the industry.

BNB Chain’s RWA Momentum

Notably, institutions have repeatedly chosen some of the leading networks, including BNB Chain and Ethereum, for tokenized assets and permissioned financial products. According to RWA.xyz data, the total RWA value on-chain currently sits at around $35.67 billion, a 3.53% increase over the past 30 days.

The BNB Chain, which has had a remarkable performance across its ecosystem this year, recently passed the $1 billion mark in on-chain value and has expanded its RWA ecosystem with multiple key partnerships and integrations from major institutional players.

Last week, the network welcomed BlackRock’s BUIDL Fund, the world’s largest tokenized real-world asset (RWA) fund with $2.5 billion in invested capital, on the BNB Chain, by launching a new share class on the network.

The expansion reportedly aims to broaden investor access and interoperability with other on-chain financial applications while offering qualified investors exposure to tokenized US dollar yields on a “high-performance, low-cost network.”

Similarly, Ondo Finance recently integrated with the BNB Chain to bring tokenized US stocks and ETFs to the blockchain at scale with its tokenized securities platform, Ondo Global Markets.

As reported by Bitcoinist, Ondo Global Markets has offered a selection of more than 100 tokenized US stocks and ETFs since its launch in September, surpassing $350 million in total value locked (TVL) and driving over $669 million in total on-chain volume.

Meanwhile, CMB International, Franklin Templeton, and VanEck have also expanded to the BNB Chain, bringing key money market funds and platforms, and offering tokenized US Treasury exposure on the network.

An unexpected question has arisen for Binance founder Changpeng Zhao, also known as “CZ,” regarding whether the US government might return Binance’s $4.3 billion settlement following his presidential pardon. The question received an immediate response from CZ, whose reply caught the attention of the broader crypto community, adding yet another layer of intrigue to the widely discussed situation. 

Will The US Government Refund Binance’s $4.3 Billion Settlement? 

Anndy Lian, a business strategist in Asia, posed a direct question to CZ in an X social media post on Monday, asking whether the US government would refund the $4.3 billion fine paid by Binance now that the founder has been pardoned. CZ acknowledged the question’s sensitivity and explained that he values the presidential pardon already granted to him. 

He said that there is a need to balance gratitude with what might be considered fair in light of recent developments. The Binance founder also stated that if any portion of the settlement were ever returned, he would direct the money into investments inside the US as a gesture of respect. He further added that he has not made any request nor taken any step toward seeking a refund. 

The fine in question traces back to November 2023, when Binance agreed to pay $4.3 billion to settle major enforcement actions brought by several US agencies, including the Department of Justice (DOJ), the Office of Foreign Assets Control (OFAC), the Commodity Futures Trading Commission (CFTC), and the Financial Crimes Enforcement Network (FinCEN). 

The coordinated actions involved allegations related to sanctions breaches, failing to maintain a strong anti-money laundering program, and others. Notably, CZ faced personal consequences during this period. He pleaded guilty to violating the Bank Secrecy Act and agreed to step down as Binance’s CEO, while paying a $50 million penalty. He was later sentenced to four months in prison in April 2024, after pleading guilty to enabling money laundering activities at his crypto exchange. 

New Clarity Emerges On CZ’s Presidential Pardon

Further insight into the Binance founder’s pardon surfaced in a recent interview conducted by Anthony Pompliano, the co-founder of Morgan Creek Digital, with CZ’s lawyer, Teresa Goody Guillen. In the YouTube interview, Pompliano asked Guillen to address the lingering questions surrounding why CZ received a pardon from US President Donald Trump. 

Guillen explained that the pardon was issued because the prosecution should not have occurred under the circumstances of his case. She emphasized that even the US President viewed the conviction as unjust and did not believe CZ had committed crimes warranting such treatment. She further added that the Binance founder held no criminal history, engaged in no fraud, and was connected to no identifiable victims, yet received a sentence harsher than any historically imposed for that specific charge. 

Pompliano also raised the issue of possible play-to-play dynamics or corruption influencing the pardon. Guillen dismissed such theories, describing them as misinformation and assumptions. She stated that she had seen nothing indicating the presence of any improper exchange or influence, behind the presidential pardon, especially pertaining to CZ’s alleged connection to World Liberty Finance, a Trump-linked crypto venture. 

Michael Saylor’s Bitcoin strategy has been in focus since the recent BTC crash. There have been speculations of what could happen to Saylor’s company, Strategy (MSTR), and its BTC holdings if the flagship crypto continues to crash. 

Schiff Predicts Bankruptcy For Saylor’s Strategy Amid Bitcoin Crash

In an X post, renowned economist Peter Schiff stated that Strategy’s entire business model is a fraud. He went on to challenge Saylor to debate this proposition with him. He added that regardless of what happens to Bitcoin, he believes that Strategy will eventually go bankrupt. Notably, MSTR’s mNAV recently fell below the value of its Bitcoin holdings, putting Saylor’s strategy at risk. 

Saylor’s Strategy has always benefited from trading at a premium to its Bitcoin holdings. However, with the mNAV now trading below 1, there are concerns about what may happen to the company if the Bitcoin bear market persists. Last week, Arkham suggested that Saylor and his company were offloading BTC. However, Saylor quickly dismissed these rumors, stating they were untrue. 

Saylor further stated that Strategy had bought Bitcoin every day last week despite the BTC crash, which the company confirmed this week when it announced an $835 million purchase. This marked its largest purchase since July, when it bought $2.46 billion worth of BTC. However, the company bought these coins at an average price of $102,171, which is well above BTC’s current price. 

This latest purchase has further put a significant amount of Strategy’s Bitcoin supply at a loss. CryptoQuant data shows that 43% of Saylor’s company’s BTC holdings are held at a loss, while 57% are in profit. This is based on the average purchase price per purchase rather than the total. Notably, the average purchase for the company’s total BTC holdings is $74,433. 

BTC Could Still Drop Below Strategy’s Average Buy Price

Veteran trader Peter Brandt predicted that Bitcoin could drop below $50,000, putting Strategy’s BTC holdings underwater. Brandt remarked that BTC could test Saylor ‘severely’ as it drops below their average purchase price. The trader explained that a drop below $50,000 could occur if the recent violation of the parabolic advance is similar to past events. 

A Bitcoin drop below Strategy’s average purchase price could put the company at risk of having to offload its holdings to repay its debts. Crypto pundit Dom Kwok claimed that Saylor’s company will be forced to sell its BTC to make interest payments. He added that treasury companies cannot operate when mNAV falls below 1, causing them to either sell their BTC or go bankrupt.  

Crypto pundit Mana warned that the market is about to witness a Strategy collapse. He claimed that investors are pulling out while the company’s earnings are bleeding. As such, he advised market participants to dump their MSTR shares. 

At the time of writing, the Bitcoin price is trading at around $91,400, up in the last 24 hours, according to data from CoinMarketCap.

Ethereum has been on a downward trend since hitting a new all-time high in August. However, this decline in price was hastened by the robust market crash on October 10. After the prolonged period of bearish performance and steady pullback, the altcoin is finally experiencing a complete reset of its liquidity.

A Clean Slate For Price Action After Ethereum’s Liquidity Reset?

As the ongoing market-wide volatility overshadows Ethereum, the leading altcoin and network has now reached a critical junction. Altcoin Vector, an institutional-grade reporter and signal provider on the social media platform X, points to a key shift in the market dynamics of ETH. 

The market structure of Ethereum is drastically changing as liquidity across exchanges, DeFi platforms, and key on-chain channels undergo a reset. According to Altcoin Vector, ETH’s liquidity has developed a full reset, a crucial pattern that historically occurs prior to every major bottom in the altcoin’s price.

This complete structural liquidity reset is more than a brief halt. It is a sign of deep recalibration of ETH’s movement, trading, and flow within its quickly growing ecosystem. As a result, Ethereum is currently at a critical juncture where decreased liquidity could either lay the groundwork for a strong comeback or expose the asset to more severe price fluctuations in the future.

Altcoin Vector highlighted that a liquidity collapse is typically followed by multi-week bottoming rather than a structural breakdown. However, as long as liquidity recovers, the correction/bottoming window remains open. In the meantime, the leading altcoin is presently back in that market phase.

With being in a bottoming phase, Altcoin Vector declares that it is only a matter of time before the next expansion leg kicks off, particularly if liquidity is rebuilt in the upcoming weeks. However, this impending trend still carries its own risk. 

Should the liquidity take a lengthy period of time to return, the slow grind can remain active for a long time. Such a pattern would likely leave the structure of ETH increasingly vulnerable to price swings.

When To Buy ETH

When the market turns bearish, determining the ideal time to acquire a coin becomes increasingly difficult. As Ethereum’s price struggles with a downward trend, Leo Lanza, a builder and crypto investor, has outlined a good time to purchase ETH in order to minimize losses. 

In the X post, Lanza stated that when ETH trades 1:1 with ecosystem Total Value Locked (TVL), it is the best moment to purchase the altcoin, as often seen in the past. According to the investor, this is the precise point at which the market loses sight of the true value that Ethereum is securing, allowing for a strategic acquisition and positioning ahead of major price spikes.

Lanza calls ETH an inelastic-supply commodity. Its supply cannot grow to keep up with institutional demand as more value is secured throughout the Ethereum ecosystem. Wall Street is currently building on the network, and trillions of assets are being tokenized on the chain. This high demand will trigger relentless upward pressure on ETH as the security collateral of global finance.

According to industry voices, the US is likely to hold off buying Bitcoin until others move first. That view came from crypto entrepreneur Mike Alfred, who said the government will step in only “when there is enough pressure externally.”

His comment frames Washington’s approach as reactive rather than leading. The timing remains unclear.

Governments Watching Each Other

According to Alfred, a wider trend could follow if prices climb. He told listeners he expects Bitcoin to reach $1 million by 2033, and he argued that most countries will hold some Bitcoin by then, either directly or through indirect exposure.

Other well-known figures, including Strategy chairman Michael Saylor and Coinbase CEO Brian Armstrong, have offered sooner time frames, suggesting seven-figure prices could arrive as early as 2030 or 2035.

Those forecasts are being used by some industry players to push governments to act now rather than later.

Strategic Reserve Still Lacks A Playbook

US President Donald Trump signed an executive order in March to create a Strategic Bitcoin Reserve. The order directed use of budget-neutral methods for building the reserve, but a formal plan has not been rolled out.

Galaxy Digital analyst Alex Thorn has recently argued there is a “strong chance” the US will announce it is formally holding BTC as a strategic asset this year, yet no confirmed holdings have been made public. The proposal exists on paper; practical steps have not been made visible.

yes, i mean the U.S. government announcing, not bessent’s offhand comment on tv

that comment gave us hints of where they think the size of the reserve stands but is not a formal announcement of the SBR https://t.co/ADxguLJ8vH

— Alex Thorn (@intangiblecoins) September 11, 2025

Warning About Being Front-Run

Some industry figures say delay carries risks. Jan3 founder Samson Mow warned that the US “has to start” acquiring Bitcoin soon or risk being front-run by other nations, naming Pakistan as an example of a country planning purchases.

Alfred pointed out that widespread official recognition of Bitcoin in the US felt unlikely before the March order. Many in the sector see a budding race to secure BTC, and pressure from abroad could be a deciding factor for policymakers.

Institutions Joining The Fray

Institutions are expanding their footprint despite price moves. Bitcoin has slid below $95,000. Still, institutional activity appears to be growing.

A major US digital trading platform and a chartered bank have opened crypto trading to institutional clients, while the derivatives arm of the Singapore Exchange is adding perpetual futures.

Policy shifts have also allowed some firms to launch crypto exchange-traded products, widening access. These steps show that firms are building infrastructure and services even while prices wobble.

Supply concentration is also becoming more visible. Corporations now control about 14% of Bitcoin’s 21 million supply through product firms and companies holding BTC on their books.

That 14% number does not include large holdings by miners, sovereigns like El Salvador, or assets locked in decentralized finance protocols, all of which would push the share higher.

With so much supply clustered in specific hands, liquidity could tighten. Governments watching this trend may feel compelled to add Bitcoin to official stores simply to keep pace with other holders.

Waiting And Observing For Now

Alfred is basically saying that the US will probably wait before buying Bitcoin. He thinks the government wants to see other countries take the first big step before it starts collecting Bitcoin itself. For now, the Strategic Bitcoin Reserve is more of a plan on paper than something actually happening.

Featured image from Unsplash, chart from TradingView