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US Bank, один из крупнейших коммерческих банков США, начал тестировать выпуск стейблкоинов в сети Stellar в рамках сотрудничества со Stellar Development Foundation (SDF) и компанией PwC (PricewaterhouseCoopers).

Data shows the Bitcoin-denominated Options Open Interest has witnessed a sharp surge recently and set a new all-time high (ATH).

Bitcoin Options Trend Suggests Investors Repositioning Amid Downtrend

According to the latest weekly report from Glassnode, the recent market volatility has brought with it fresh activity on the options market. Options are one of the ways derivatives traders bet on future Bitcoin price action. An options contract grants the investor the right (but not the obligation) to buy or sell the cryptocurrency at a set price on or before a pre-set date. Bullish options bets are known as “calls,” while bearish ones as “puts.”

In the past, futures trading dominated the BTC derivatives market, but in recent times, options have gained popularity and now rival futures in terms of the Open Interest.

The Open Interest here refers to an indicator that measures the total amount of positions related to a given market that are open on all centralized exchanges. Below is the chart for this metric shared by Glassnode in the report that shows the trend in its BTC-denominated value for the options market over the past year.

As is visible in the graph, the Bitcoin Options Open Interest has shot up recently, indicating that options traders have been opening new positions. This surge in activity has come as BTC’s spot price has gone through some sharp volatility. The rise in the indicator has been so strong that it has pushed its value to a new ATH. Glassnode noted that this is a result of “a combination of volatility-arbitrage strategies and renewed demand for risk management.”

While the Options Open Interest denominated in BTC has spiked, the same hasn’t been true for the USD version, which remains well below the peak witnessed in late-October.

That said, the rise in the BTC-denominated metric is still a sign that investors have been repositioning, even if the overall USD capital involved is lower.  “This sets the stage for the upcoming key expiry, which is shaping up to be one of the most significant in the near term,” explained the analytics firm.

Like the USD-denominated Options Open Interest, the indicator for the perpetual futures market has also seen a decline recently.

As displayed in the above chart, the Bitcoin Futures Open Interest has been following a slow and steady decline since the massive deleveraging event in October. The pace of the decline indicates investors themselves have been pulling back on risk, rather than facing forceful liquidations.

The report concluded:

The market now rests on a leaner leverage base, which lowers the odds of sharp, liquidation-driven volatility and reflects a more cautious, defensive positioning across futures markets.

BTC Price

Bitcoin has returned to $91,300 following its sharp 5% surge over the past day.

Ethereum founder Vitalik Buterin has quietly redirected part of his growing on-chain privacy activity toward the encrypted-messaging space, donating a total of 256 ETH to SimpleX Chat and Session via the Railgun privacy protocol.

Onchain analytics firm Arkham first flagged the move, noting “VITALIK JUST SENT $2.9M $ETH TO RAILGUN. Vitalik holds over $700 MILLION of ETH, and just sent $2.9M into Railgun. What is he cooking?”

VITALIK JUST SENT $2.9M $ETH TO RAILGUN

Vitalik holds over $700 MILLION of ETH, and just sent $2.9M into Railgun.

What is he cooking? pic.twitter.com/2HvDFRDqi2

— Arkham (@arkham) November 26, 2025

Buterin Backs SimpleX And Session

Shortly after, Buterin confirmed the donations from his vitalik.eth account and framed them explicitly as a bet on the next frontier of privacy: permissionless and metadata-hardened messaging. “Encrypted messaging, like @signalapp, is critical for preserving our digital privacy,” he wrote. “Two important next steps for the space are (i) permissionless account creation and (ii) metadata privacy.” He then named Session and SimpleX as “two messaging apps pushing these directions forward.”

Buterin specified that he had “donated 128 ETH to each” project, providing their official websites for anyone wishing to “follow on,” and then pivoted from philanthropy to adoption: “But also, actually download and use them!”

The transactions to SimpleX and Session were executed via Railgun, a zero-knowledge privacy system on Ethereum that obscures the sender, recipient, token type and amount when interacting with smart contracts and DeFi protocols.

While Buterin has used Railgun and other privacy-preserving systems repeatedly over the past two years, he has often explained that such transfers typically represent “some donation to a charitable, non-profit, or other project,” rather than personal cash-outs.The latest pattern fits that narrative: funds routed into Railgun and then out to privacy-focused infrastructure and applications, this time in the messaging domain.

In his post, Buterin positions encrypted messengers as a crucial layer in the broader privacy stack alongside financial anonymity. He explicitly ties the importance of Signal-style end-to-end encryption to new requirements that go beyond content secrecy: “permissionless account creation” and “metadata privacy.” The first is about removing reliance on centralized, real-world identifiers such as phone numbers or email addresses in order to create an account. The second targets the far less visible but equally revealing exhaust of digital communication: who talks to whom, when, and from where.

Why The  Ethereum Founder Supports Both Projects

Both SimpleX and Session are trying to address those problems in ways that diverge sharply from the mainstream model of phone-number-based, cloud-synced messengers. SimpleX’s own documentation emphasizes “complete privacy of your identity, profile, contacts and metadata,” stressing that the platform “has no identifiers assigned to the users – not even random numbers.”

Instead, users establish connections via QR codes or links, and communication routing is designed so that the service itself cannot reconstruct the social graph. Session, originally forked from Signal but rebuilt around onion routing and decentralized service nodes, is pushing a similar line: no phone numbers, Tor-like network-level obfuscation, and attention to metadata minimization.

Buterin is clear that his endorsement is not a claim that these apps are already finished products. “Neither of the two are perfect pieces of software, they have a way to go to get to truly optimal user experience and security,” he cautioned. He then sketched the core engineering problems that still need to be solved if “strong metadata privacy” is to coexist with the kind of convenience users now expect from mainstream messengers.

“Strong metadata privacy requires decentralization, decentralization is hard, users expecting multi-device support makes everything harder,” he wrote. He also flagged Sybil and denial-of-service resistance as a still-open design space: developers must harden “both in the message routing network and on the user side (without forcing phone number dependence).”

The latest donations also underline how Buterin increasingly uses his personal holdings to nudge the ecosystem toward specific priorities: privacy-preserving DeFi, open-source infrastructure, and now, metadata-resistant communication tools. In this case, he explicitly calls for more developer attention: “These problems need more eyes on them. I wish all teams working on these important problems best of luck.”

At press time, Ethereum (ETH) traded at $3,007.

Bitcoin has climbed back above the $90,000 mark, recovering sharply after last week’s slump to near-$80,000. The world’s largest crypto surged as much as 4% in 24 hours, briefly touching $91,200, boosted by renewed market optimism, improving liquidity, and growing expectations of a Federal Reserve rate cut in December.

Related Reading: The 250% Price Surge That Will Send Bitcoin To $300,000

However, despite the rebound, analysts warn that the latest upswing may remain structurally fragile.

Risk Appetite Returns as BTC Leads Market Rebound

After weeks of volatility, Bitcoin’s latest rise mirrors a broader recovery across the crypto market. A wave of buying pushed Ethereum back above $3,000, while major altcoins, including XRP, BNB, Solana, Cardano, Tron, and Dogecoin, logged gains of over 4%.

Market analysts attribute the rally largely to improving macro sentiment. Traders are now pricing in an 85% chance of a Fed rate cut, up from just 44% a week earlier. Lower interest rates typically boost demand for risk assets, including crypto.

Additionally, a massive 1.8 million BTC withdrawal from exchanges overnight sparked speculation of increased institutional accumulation.

Regardless, caution lingers. The crypto Fear & Greed Index sits deep in “Extreme Fear,” and despite rising prices, market conviction remains thin. As CoinSwitch noted, BTC’s jump was fueled partly by a short squeeze, not purely organic demand.

Analysts Warn of Resistance Ahead

Even with the recent improvement, several analysts believe Bitcoin’s upside remains limited in the near term. Resistance between $92,000 and $95,000 is expected to be a key test for bulls.

Ed Engel of Compass Point notes that BTC’s rebound from the $82,000 Real Market Average suggests early signs of capitulation but not a confirmed bottom.

Whale wallets holding 10–10,000 BTC have continued reducing their holdings for six straight weeks, an ongoing bearish indicator. Meanwhile, institutional desks are reportedly trimming exposure into year-end, adding more supply to the market.

Some traders expect Bitcoin to retest $82,000 or even dip below $80,000 if momentum fades. Others believe a strong break above $95,000, supported by retail demand, could renew bullish structure and open the path toward fresh highs.

A Market at a Crossroads

Despite improved liquidity and rebounding prices, Bitcoin’s recovery remains fragile. Sentiment is mixed, leveraged positions are still unwinding, and macro data continues to send conflicting signals. For now, BTC appears stuck between growing optimism and persistent skepticism.

Related Reading: Crypto Asset Reporting Framework Advances: US Treasury Aims For Global Compliance By 2027

The next major catalyst, whether from the Federal Reserve, institutional flows, or renewed retail appetite, will likely determine whether Bitcoin’s climb is the start of a sustainable uptrend or just another relief rally.

Cover image from ChatGPT, BTCUSD on Tradingview

The crypto market is facing a wave of misinterpretation as Coinbase’s large-scale wallet rebalancing, which began on November 22, 2025, continues to distort major on-chain indicators. Many dashboards now display what appears to be an unprecedented $68 billion Long-Term Holder (LTH) “sell” spike — but according to analysts, this is not real distribution. Instead, it’s the direct result of Coinbase transferring coins internally as part of its routine wallet restructuring process.

This distinction is critical. Several prominent analysts and market commentators have highlighted massive outflows, huge shifts in LTH supply, and unusual wallet movements, yet many have failed to mention the underlying cause: Coinbase’s internal reshuffling. Without this context, market participants might wrongly conclude that long-term holders are panic-selling at scale, reinforcing fear during an already fragile market environment.

These rebalancing events have happened before, but the size of Coinbase’s holdings means even normal internal operations can trigger dramatic spikes in on-chain metrics such as LTH Net Position Change, Exchange Netflow, and Spent Output Age Bands.

Coinbase Internal Transfers Distorted Key On-Chain Metrics

According to detailed analysis by Axel Adler, Coinbase’s internal migration of approximately 800,000 BTC created one of the largest distortions in on-chain data ever recorded — without a single coin being sold.

The exchange executed 286 transactions totaling 798,636 BTC, moving funds from legacy P2PKH (Pay-to-Public-Key-Hash) addresses to modern P2WPKH (SegWit) addresses. This technical reorganization produced an artificial $68 billion “realized profit” spike, misleading many market observers into interpreting it as massive long-term holder distribution.

This large UTXO migration disrupted several major on-chain indicators. LTH and STH Supply metrics were temporarily skewed, showing a sharp drop in Long-Term Holder supply and a rise in Short-Term Holder supply — a pattern typically associated with heavy “smart money” selling. In reality, no distribution occurred; Coinbase simply restructured its internal wallets.

The distortion also affected LTH Realized Profit/Loss models, which reflected tens of billions in phantom gains, and HODL Waves, where UTXO ages were “reset,” suggesting long-term holders had suddenly spent old coins. Even Coin Days Destroyed (CDD) showed a significant spike, mimicking an “old coin awakening,” though the activity was entirely internal.

These disruptions highlight how exchange operations can temporarily break the reliability of on-chain metrics, requiring careful interpretation from analysts and investors.

Total Market Rebounds but Remains Under Critical Pressure

The Total Crypto Market Cap chart shows a sharp rebound after tagging the $2.88T zone, a level that aligns closely with the 100-week moving average (green), acting as a key structural support in previous cycles. This bounce has pushed total valuation back above the $3T mark, but the broader trend remains fragile after weeks of heavy selling across majors like BTC and ETH.

Price structure highlights a clear breakdown from the $3.6T–$3.8T consolidation zone, followed by a fast, impulsive decline—mirroring the speed of corrections seen during 2021 and mid-2022. Despite the latest recovery candle, the market remains below the 50-week moving average (blue), signaling that buyers must regain momentum quickly to avoid deeper downside toward the 200-week moving average near $2T.

Volume has surged on recent sell-offs, showing widespread forced selling and capitulation behavior—a pattern consistent with cycle mid-reset phases. The rebound, however, shows reduced sell volume, suggesting exhaustion from bearish participants. To confirm strength, total market cap must reclaim the $3.25T–$3.3T area, which currently acts as the first major resistance.

Failure to break above this zone risks further consolidation or a retest of the $2.8T support. For now, the market shows early signs of stabilization, but broader recovery depends on Bitcoin’s ability to sustain its own rebound and restore confidence across altcoins.

Featured image from ChatGPT, chart from TradingView.com

Australia is accelerating its push into digital finance with the introduction of the Corporations Amendment (Digital Assets Framework) Bill 2025, a comprehensive regulatory overhaul designed to strengthen crypto custody standards, improve investor protection, and unlock an estimated $24 billion in annual economic value.

The bill establishes the country’s first comprehensive framework for digital asset platforms and crypto custodians, positioning Australia as one of the most proactive jurisdictions in the global race for crypto regulation.

A New Licensing Regime to Protect Consumers

The cornerstone of the legislation is a requirement for crypto exchanges and custody providers to obtain an Australian Financial Services License (AFSL).

This brings them under the supervision of the Australian Securities and Investments Commission (ASIC), a major structural shift for an industry that previously operated in a fragmented regulatory space.

Assistant Treasurer Daniel Mulino emphasized that Australia must “keep pace” with financial innovation. The bill specifically targets firms holding customer crypto, rather than blockchain technology itself, addressing a widespread concern that companies can currently store unlimited digital assets for clients without adequate safeguards.

To close this gap, the bill introduces two new regulated categories:

• Digital asset platforms
• Tokenized custody platforms

Both will be subject to strict standards for transactions, settlements, asset storage, and mandatory disclosure of risks and fees.

Balancing Innovation With Oversight

While the legislation imposes tough standards, it also aims to support responsible growth in the digital asset sector. Companies handling less than A$10 million in annual transactions or participating in crypto only as an incidental activity will be exempt from licensing.

Industry response has been broadly positive, with firms like Crypto.com and DECA calling the bill a long-awaited step that provides regulatory clarity without stifling innovation. A phased rollout, a 12-month preparation period followed by a six-month transition window, gives platforms time to meet the new requirements.

ASIC’s recent crackdown on scams underscores the urgency. Since mid-2023, the regulator has removed over 14,000 phishing and scam sites, approximately 20% of which were related to cryptocurrency.

A Transformational Step for Australia’s Digital Finance Future

Treasurer Jim Chalmers noted that digital assets, from cryptocurrencies to tokenized real-world assets, represent a significant economic opportunity. Research cited by the government suggests that the reforms could help unlock up to $24 billion annually in productivity and efficiencies across the financial sector.

However, industry experts warn that coordination across ASIC, AUSTRAC, and the ATO will be essential. The bill’s success will depend on whether the final regulatory framework is both enforceable and flexible enough to adapt to rapid innovation in tokenization and blockchain services.

As the bill moves through Parliament, with easy passage expected in the House, the key question is whether crossbench support in the Senate will solidify Australia’s position as a global leader in secure, innovation-friendly crypto regulation.

Cover image from ChatGPT, BTCUSD on Tradingview

Bitcoin has finally broken above the $90,000 mark after days of struggling to reclaim this key psychological level. The move comes during a period of sharp volatility and persistent selling pressure that continues to dominate market sentiment.

Analysts remain divided, but a growing number are calling for the official start of a bear market as BTC trades nearly 30% below its all-time high and fails to establish a convincing recovery structure. Fear remains elevated, and confidence among both retail and institutional investors is weakening.

Adding to the uncertainty, new data from Arkham reveals that SpaceX transferred out another 1,163 BTC—worth approximately $105.23 million—just a few hours ago. The transfer appears to have been routed to Coinbase Prime, suggesting a potential custody shift by the company. Such large movements often spark concern in the market, as they may signal repositioning, selling preparation, or treasury adjustments by major corporate holders.

While Bitcoin’s push above $90K provides temporary relief, it does little to change the broader narrative: the market remains under pressure, liquidity is thinning, and macro-driven uncertainty continues to shape price action. The coming sessions will determine whether BTC can build momentum or slip back into deeper correction territory.

SpaceX’s Bitcoin Movements Add New Layer of Market Uncertainty

According to data from Arkham, SpaceX currently holds 6,095.45 BTC, valued at roughly $550 million at today’s prices. This substantial treasury position places the company among the larger corporate Bitcoin holders, and its recent on-chain activity has quickly drawn attention across the market.

The latest transfer—1,163 BTC moved just hours ago—marks a meaningful shift in activity for SpaceX, especially considering the company has been largely inactive in terms of BTC movements for months.

Arkham reports that this is SpaceX’s first notable transaction since October 29, when the company transferred 281 BTC to a new wallet address. While the motives behind these transfers remain unknown, traders typically monitor such moves closely, as large corporate holders can influence market sentiment.

Transfers to Coinbase Prime—as suspected in the latest movement—often suggest custody adjustments, treasury restructuring, or preparations for strategic repositioning.

For now, there is no clear indication that SpaceX is reducing its Bitcoin exposure. However, the renewed on-chain activity comes at a sensitive moment for the market, which is struggling with selling pressure, fear, and broad speculation about an emerging bear phase.

As long as major smart-money entities remain active, Bitcoin’s short-term direction may continue to experience heightened volatility.

Attempted Recovery but Still Under Pressure

Bitcoin is showing signs of recovery after plunging to new local lows last week, with the price now pushing back above $91,000. The chart shows a sharp bounce from the sub-$82,000 zone, which acted as a temporary support during the capitulation phase. However, despite this rebound, BTC remains below all major moving averages—the 50-day, 100-day, and 200-day—which reinforces the broader bearish structure.

The recent upswing reflects short-term relief rather than a confirmed trend reversal. Volume spiked heavily during the sell-off, indicating forced liquidations and panic selling. But the current bounce is happening on lighter volume, suggesting that buyers are cautious and not yet committing with strong conviction.

Structurally, Bitcoin must reclaim the $95,000–$98,000 zone, where the 50-day and 100-day moving averages converge.

This area represents the first major resistance cluster and will determine whether the market is transitioning into a recovery or simply forming a lower high before another leg down. Failure to break above this band could invite renewed selling pressure.

Featured image from ChatGPT, chart from TradingView.com

Upbit, one of South Korea’s largest crypto exchanges, reported a major loss after a Solana-network hot wallet was emptied early on November 27, 2025.

According to reports, about 54 billion Korean won — roughly $36–37 million — was taken in what the company called an “abnormal withdrawal” detected at 04:42 KST.

Upbit Suspends Solana Services

According to the exchange, deposits and withdrawals for assets on the Solana chain were halted immediately after the breach was found.

Company engineers moved remaining Solana holdings into cold storage to limit further access. Some tokens were later frozen on-chain while investigators traced transfers.

Reports have disclosed that about 12 billion won (around $8–9 million) in LAYER tokens has been frozen so far.

NEW: UPBIT DISCLOSES ~$37M HACK ON SOLANA NETWORK – “TO PREVENT ANY DAMAGE TO MEMBER ASSETS, THE ENTIRE AMOUNT WILL BE COVERED BY UPBIT’S HOLDINGS. WE WOULD LIKE TO REITERATE THAT THIS WILL NOT AFFECT MEMBER ASSETS”

SOURCE: https://t.co/LaGePSDOj4 pic.twitter.com/JRQzOFX2ot

— DEGEN NEWS (@DegenerateNews) November 27, 2025

A Broad Range Of Tokens Appears Affected

Based on reports from blockchain trackers and media outlets, the stolen assets included SOL and USDC along with many Solana-ecosystem tokens.

Stolen tickers reportedly include ACS, BONK, RAY, JUP, PYTH, ORCA, JTO, LAYER, RENDER, MOODENG, and TRUMP, among others.

The list is long, and tracking continues as some tokens move through multiple wallets. At this stage, several of the addresses holding the funds are under active monitoring.

Upbit(@Official_Upbit) has been hacked — 54B KRW (~36.8M USD) in assets on #Solana have been transferred to unknown wallets.https://t.co/plbmBz2G4Nhttps://t.co/YOHoqDVfqa pic.twitter.com/DM5BxSTtXA

— Lookonchain (@lookonchain) November 27, 2025

Exchange Operator Pledges Coverage

Dunamu, Upbit’s parent company, has said the exchange will cover the full loss from its own reserves so that customer balances will not be reduced.

According to the company, this decision was made to protect users while the technical and forensic reviews are under way.

A security review of the deposit and withdrawal systems has been launched, and outside experts are reported to be assisting with the investigation.

Past Incidents And Timing Raise Questions

Reports note the timing was awkward: the breach came just after a high-profile corporate announcement involving Naver Financial on November 26, 2025.

Upbit is not new to major hacks; a 2019 attack cost the platform a large amount of ETH. Hot wallets, which are connected to the internet, remain a known weak point for centralized exchanges. That risk was exposed again here.

On-Chain Tracking And Recovery Hopes

Blockchain analysts are following the trail of transfers and identifying the wallets that received funds. Some tokens can be frozen if their issuers or governing authorities cooperate, which is how the reported LAYER freeze was achieved.

Still, many assets may be hard to recover, and legal routes can be slow. It was reported that the exchange attempted to freeze what it could while moving other assets offline.

What This Means For Users And Market Confidence

For now, Upbit users have been assured their funds are safe because the operator pledged to absorb the loss.

Market reaction could include temporary liquidity issues for certain Solana tokens listed on the platform while services remain limited.

Featured image from Pixabay, chart from TradingView

The XRP price has reentered the spotlight after a crypto analyst released a powerful message, announcing that the altcoin is stepping into a “brand new beginning.” The analyst predicts that XRP could hit $8 from its current price, just above $2. His bullish projection signals an upcoming shift in market sentiment, which has been uncertain, and sets the tone for what could be a new bullish phase for XRP.

XRP Price Analyst Says A New Phase Is Beginning

A wave of excitement has spread across the market after ‘The Bearable Bull,’ an anonymous crypto analyst with over 382,000 followers, outlined a new chapter for the XRP price while revealing his identity. The analyst issued a bold prediction on X, declaring that XRP could be preparing for a decisive move that could shed its prolonged downtrend and potentially propel it toward its next significant milestone around $8. With the cryptocurrency currently trading at $2.2, a surge to this target would represent a staggering 263.4% increase. 

While his $8 projection is ambitious given XRP’s recent market performance and low price, he frames it as a natural progression in a generational wealth cycle that is nearing its end for token holders. He also described this moment as the start of a new chapter for himself as he anticipates a significant shift in XRP’s trajectory. 

The Bearable Bull explained that he has spent the past seven years building multiple successful crypto businesses while remaining completely anonymous. According to him, privacy was not just a preference but a strategy that allowed him to grow without pressure or public judgment. He said anonymity protected him from the challenges that come with fame, especially from a young age. It helped him avoid distractions that often accompany sudden wealth transformations in the crypto industry. 

In his statement on X, the analyst revealed that his ability to make an impact while remaining anonymous has reached its limit. He stated that the time has come to step into the public eye to deliver his message on a much wider scale. He also disclosed a readiness to begin openly engaging with crypto community members he has influenced from behind the curtain for years.

Expert Debunks $100 Price Forecast

Taking a more conservative stance on the numerous ambiguous XRP predictions, crypto YouTuber and analyst Zach Humphries has addressed community expectations regarding extreme price targets. He argues that forecasts calling for XRP to reach $100 before year-end are mathematically unrealistic given current market conditions. 

With the overall crypto market valuation sitting near $3 trillion and less than 40 days left in 2025, Humphries notes that a $100 price would require the cryptocurrency to reach a $6 trillion market capitalization—a level that far exceeds the combined market value of all major cryptocurrencies.

Despite dismissing the near-term $100 projection, the analyst maintains a long-term bullish stance. His analysis suggests that $100 is not impossible; however, it would take considerable time for the altcoin to reach that valuation.