Soneium, a Layer-2 blockchain platform by Sony Block Solutions Labs, announced a partnership with IRC APP, the official app for one of Japan’s largest idol and fashion festivals, Idol Runway Collection (IRC).

The collaboration will bring the IRC onto Soneium’s AI-powered IPFi infrastructure to transform global fan engagement through measurable, rewarding on-chain contributions. Asia’s entertainment industry has become a trailblazer in fan participation, a trend that is now taking hold in Western markets.

Sony’s Blockchain Infrastructure for Entertainment

The IRC, Japan’s largest idol and fashion hybrid festival, is hosted by YOAKE entertainment and has expanded its scale through a collaboration with Tokyo Girls Collection (TGC). IRC has already established itself as a success, attracting approximately 11,800 attendees and 107 idol groups to its 2025 event. 

The core goal of the partnership is redefining fan engagement by valuing and rewarding measurable on-chain contributions across the J-Pop fandom. This collaboration will unlock the creative community’s economic potential, starting with the world’s second-largest music market.

The core of fan engagement is within the IRC mobile app. This AI-powered app evaluates positive, consistent, supportive posts made by fans on platforms such as X (formerly Twitter). The measured engagement is converted into “IRC Score,” which is automatically claimed to fans’ on-chain wallets without gas fees.

This accumulated score determines a user’s Membership rank—Regular, Bronze, Silver, or Gold—with each tier offering progressively enhanced real-world benefits for IRC 2026, scheduled for March 15, 2026, in Tokyo, including early ticket access, priority entry, and premium venue invitations. It also enables the on-chain Fan Vote, which directly shapes tangible aspects of the IRC 2026 event. This measurable fandom contribution system will expand beyond idol culture into new creative frontiers such as anime and fashion.

Sony launched its Soneium blockchain mainnet on January 14, 2025, setting a new standard for production-grade Web3 services focused on entertainment, gaming, and intellectual property protection. This public Layer-2 network uses Ethereum’s OP Stack, inheriting its security while offering lower transaction fees and higher throughput. Sony Block Solutions Labs designed Soneium to support scalable applications for digital communities and creative industries.

Asian Entertainment Companies Pioneer Fan Ownership Models

This is not the first time Asian entertainment companies have tried Web3-related projects. In Korea, girl group tripleS has made blockchain a core source of revenue. Produced by Modhaus and formed as a 24-member group, tripleS lets fans use NFTs and utility tokens to influence unit composition and song selection. Fans purchase NFT objects to gain Komos token voting power in the COSMO app, creating a system of transparent, participatory governance.

This model enabled tripleS to generate revenue even before its debut, providing members with compensation comparable to that of large companies. Production exceeded 10 billion KRW ($6.8 million), and early NFT sales helped cash flow, offering a fairer distribution than typical idol group contracts. TripleS stands out as a case where blockchain drives fan co-creation and transparent value sharing in entertainment.

China’s entertainment platforms are rapidly adopting superfan-driven community models that resemble Web3 economics even without blockchain. HYBE’s expansion through Tencent Music and Alibaba shows how direct messaging, authenticated merchandise, and integrated fan services strengthen ownership-like engagement. This environment naturally supports large-scale Web3-style participation economies.

Tencent Music’s superfan ecosystem illustrates this shift with Bubble surpassing 2.3 million paying subscribers. G-DRAGON’s Macau shows drew 36,000 attendees and 7 million simultaneous online viewers, proving the power of hybrid fan engagement. Merchandise, tiered subscriptions, and the expansion of long-form audio show China building a multi-channel superfan economy aligned with Web3 principles.

Lessons From Failed Web3 Entertainment Experiments

Failures have existed, too. Momentrica, an NFT platform by Dunamu and HYBE, closed on July 2, 2025, after posting an operating loss of 13 billion KRW ($8.88 million USD)and a net loss of 12.3 billion KRW in the last reported year. Although HYBE artists’ digital collectibles sparked initial interest, Momentrica struggled due to a lack of long-term utility or sustained fan participation amid the broader NFT market downturn. Precisely, the platform only offered NFTs as static digital goods, not as engagement tools.

The contrast between Momentrica and tripleS highlights a key difference in Web3 entertainment. Momentrica provided digital collectibles without voting rights, participation, or ongoing utility. In contrast, tripleS used blockchain at its core, granting fans voting rights and engagement options. The lesson is clear: successful Web3 in entertainment requires participation architectures, not just digital merchandise.

Sony’s Soneium appears poised to avoid Momentrica’s pitfalls by supporting high-volume, participation-based applications. Its scalable Layer-2 network is built for voting, reward distribution, and community engagement. Whether entertainment companies create effective participation models on this infrastructure will determine if Sony’s blockchain strategy succeeds where others have failed.

The post Sony Takes the Baton in Asia’s Entertainment–Web3 Convergence appeared first on BeInCrypto.

Bitcoin’s sharp correction from $110,000 to around $80,000 is linked to heavy selling by early whales with cost bases near $16,000. CryptoQuant CEO Ki Young Ju notes that on-chain metrics indicate Bitcoin is now in the “shoulder” phase of its cycle, suggesting limited short-term upside potential.

This selling is overwhelming institutional demand from ETFs and MicroStrategy, shaping the cryptocurrency’s 2025 outlook. In an interview with Upbit’s Upbitcare, Ju provides a data-driven look at the shifting landscape for Bitcoin investors and the forces affecting its current market structure.

Early Bitcoin Whales Fuel Selling Pressure

Ki Young Ju explains that today’s market is shaped by a contest between two main whale groups. Legacy whales, holding Bitcoin with an average cost basis near $16,000, have begun to realize hefty profits, selling at a rate measured in hundreds of millions of USD each day. This persistent selling has exerted intense downward pressure on Bitcoin’s price.

At the same time, institutional whales via spot Bitcoin ETFs and MicroStrategy have accumulated significant positions. Yet, their buying power has not matched the scale of early whales’ sell-offs. According to Ju, wallets holding over 10,000 BTC for more than 155 days typically have an average cost basis of around $38,000. Binance traders entered positions around $50,000, so many market participants are in profit and can sell if needed.

The CryptoQuant CEO points out that spot ETF and MicroStrategy inflows had boosted the market earlier in 2025. However, those flows have now declined. Outflows have started to dominate the market landscape. For example, data from Farside Investors showed Bitcoin ETFs recorded $42.8 million in net inflows on November 26, 2025, lifting cumulative inflows to $62.68 billion. Despite these figures, the sustained selling from early whales outweighs institutional accumulation.

Market Cycle Analysis Signals Limited Upside

On-chain profit-and-loss metrics offer crucial insights into market cycles. Ju’s analysis using the PnL index with a 365-day moving average reveals that the market has entered a “shoulder” phase. This late-cycle status indicates constrained growth potential and increased risk of a correction.

The valuation multiplier reflects a neutral-to-flat outlook. In previous cycles, each new dollar drove amplified market-cap growth. Now, that multiplier effect has faded. This suggests market leverage is less efficient, and the structure does not support significant gains.

Ju does not expect a dramatic 70-80% crash. Still, he considers corrections up to 30% reasonable. A drop from $100,000 could mean Bitcoin falling to about $70,000. He uses data from OKX futures long-short ratios, exchange leverage ratios, and buy-sell flow patterns to support this view.

Ju underscores the importance of a data-driven approach. In a recent post, he urged traders to use metrics for conviction, not speculation. His focus remains on interpreting on-chain data, exchange activity, and market structure.

Never trade without data. pic.twitter.com/JnAtLwpdGa

— Ki Young Ju (@ki_young_ju) November 27, 2025

This comprehensive analysis provides a grounded assessment based on on-chain evidence. As early Bitcoin whales continue to sell at profits, institutions face a harsh climate. With high leverage ratios, neutral valuation multipliers, and a late-cycle stance, the market has limited potential for a major rally in the near future.

The post Bitcoin Downtrend Driven by Early Whale Selling, Says Ki Young Ju appeared first on BeInCrypto.

Story Protocol’s native token soared 21.48% to $2.98 in 24 hours as the blockchain introduced its first prediction markets and launched Confidential Data Rails. This privacy-focused upgrade secures encrypted data on-chain.

The surge mirrors multiple feature rollouts and rising institutional attention, positioning the Layer 1 blockchain as a critical driver in the growing $80 trillion intellectual property economy.

Price Jumps with New Features and Market Momentum

As of 2:00 am UTC on Wednesday, Story Protocol’s IP token traded at $2.98—a 21.48% increase over the previous day. The token saw $145.63 million in trading volume across leading exchanges. Its market cap reached $975.42 million, placing it #104 among global cryptocurrencies.

Story hit an all-time high of $14.78 on Sept. 21, 2025, and has traded between $1.00 and $14.78 since. Institutional confidence is rising as publicly traded IP Strategy (Nasdaq: IPST) holds 53 million tokens on its balance sheet. These tokens are valued at about $731 million.

The price rally arrived alongside three major launches: Story’s first prediction markets, integration with Dune Analytics for on-chain data, and a technical paper outlining Confidential Data Rails. These updates expand Story’s capabilities beyond IP registration, demonstrating it can support a broader range of decentralized applications.

Story Protocol Debuts On-Chain Prediction Markets

Story Protocol unveiled its first prediction markets with MusicByVirtuals, allowing users to trade on outcomes linked to cultural and financial events. These markets enable bets on topics like K-pop chart positions and cryptocurrency prices, with settlements processed on Story’s blockchain.

The first prediction markets on Story are live.@MusicByVirtuals is betting that culture is as tradable as price, and now there’s a platform to prove it.

Zcash price. Kpop charts. Predictions settled on Story.

Details ↴ pic.twitter.com/3TQQP3YDmI

— Story (@StoryProtocol) November 25, 2025

These markets highlight how cultural trends and financial predictions can be tokenized and traded on-chain, showcasing Story’s versatility beyond IP management. It underscores Story’s aim to capture both IP ownership and the speculation surrounding cultural assets.

Confidential Data Rails: Privacy Upgrade for On-Chain Assets

Last Thursday, Story Protocol released its technical paper on Confidential Data Rails (CDR). This upgrade transforms encrypted data into programmable on-chain assets. The technology enables secure storage and automated management of sensitive assets within Story’s IP vaults. These assets include AI datasets, biomedical records, and API keys.

The official Story Foundation announcement describes CDR as a cryptographic foundation that combines confidentiality, automation, and programmability. Decentralized trusted execution environments (TEEs) and smart contracts on the Story chain enforce permissions. This system allows data owners to control confidential assets without exposing sensitive details.

Programmable confidentiality is here.

Confidential Data Rails (CDR) turns encrypted data into onchain building blocks, paving the way for new privacy use-cases on Story and beyond.

Technical Paper out now ↓ pic.twitter.com/pp96CAaCr9

— Story (@StoryProtocol) November 20, 2025

CDR helps solve a persistent blockchain challenge: ensuring privacy while maintaining transparency. Public blockchains are excellent for auditability but lack strong data protection. CDR lets creators and enterprises tokenize sensitive IP while maintaining strict access controls—a feature essential for sectors such as pharmaceuticals, entertainment, and AI, where confidential information must remain protected even as rights are managed on-chain.

Meanwhile, Story Protocol’s partnership with Dune Analytics enables real-time visualization of on-chain IP data, covering registrations, licenses, royalties, and derivative chains. Andrea Muttoni, President and Chief Product Officer, noted that the integration fosters transparency and deeper analytics in on-chain IP. The collaboration grants developers and institutions SQL access to Story’s data, promoting research into IP tokenization and licensing trends.

Creator Incentives Lead Platform Growth

Chase Chaisun Chang, Head of Korea at PIP Labs—the operator of Story Protocol—stressed at a South Korean conference on Tuesday that creator incentives are vital for consistent, high-quality content.

He explained how one dance video can generate 100,000 remixes within 24 hours, making traditional licensing impossible. AI consumes this content and endlessly produces secondary creations, while the boundary between creators and consumers has completely blurred.

Chang emphasized that, following the principle “garbage in, garbage out,” AI requires high-quality training data to function correctly. Proper attribution and ownership tracking are essential to combat misinformation and verify the authenticity of AI-generated content.

He concluded that digital transformation means individuals will increasingly own more intangible assets. Everyone is becoming both creator and consumer simultaneously in this new era. Better IP infrastructure is crucial to protect everyone’s digital assets in this rapidly evolving landscape.

The combination of price strength, feature launches, and institutional support positions Story Protocol as crucial infrastructure for decentralized IP management. Still, the token trades 80% below its all-time high. Ongoing adoption of CDR, prediction markets, and Dune-powered analytics will be decisive in whether the protocol can capture significant market share. As Story expands, the key question is whether creators and enterprises will move IP operations on-chain at a scale that justifies the protocol’s ambition.

The post Story Protocol Surges 21% on New Prediction Markets and Privacy Upgrade appeared first on BeInCrypto.

SanDisk Corp. will join the S&P 500 on Friday, November 28, 2024, replacing Interpublic Group of Companies Inc., according to S&P Dow Jones Indices. After the announcement on Monday, shares of the computer storage maker surged by more than 9% in after-hours trading.

This milestone signals SanDisk’s rapid rise, while Strategy (formerly MicroStrategy) faces another setback, remaining excluded from the S&P 500 despite holding more than 640,000 Bitcoin.

SanDisk’s Rapid Ascent to the S&P 500

SanDisk’s move from the S&P SmallCap 600 to the S&P 500 reflects its strong market performance over the past few months. Driven by demand from artificial intelligence applications, the company’s market capitalization has reached approximately $33 billion. This surpassed typical small-cap index thresholds, making the switch to the S&P 500 a logical step.

The announcement arrived just before the Thanksgiving holiday trading session, highlighting the urgency of the rebalancing. The replacement is occurring outside the usual quarterly rebalance, suggesting strong market momentum. The stock closed up 13.33% on the day of the announcement before the after-hours surge.

Joining the S&P 500 usually attracts significant passive inflows, as index-tracking funds buy shares to maintain their weightings. This change boosts SanDisk’s institutional investment appeal and liquidity. It also raises the company’s profile among investors focused on large-cap equities in the index.

SanDisk’s rise is fueled by optimism around AI infrastructure. As businesses use more advanced machine learning models, storage solutions are increasingly critical—driving investor enthusiasm and boosting SanDisk’s valuation over the past year.

Strategy’s Continued S&P 500 Challenge

While SanDisk celebrates, Strategy remains on the outside looking in, even after meeting several technical requirements. The company, led by executive chairman Michael Saylor, holds 640,808 BTC, valued at around $72.3 billion, making it the world’s largest corporate holder of Bitcoin. However, this asset concentration is seen as a liability by index decision makers.

Strategy was not included in the S&P 500’s September reshuffle, which selected Robinhood, AppLovin, and Emcor. Analysts put the company’s chances of inclusion in December at 70% following strong Q3 results. The firm reported $3.8 billion in Q3 earnings, showing profitability tied to Bitcoin’s price movements.

Yet, earnings volatility remains the main hurdle. Strategy’s results fluctuate each quarter with Bitcoin’s price, creating inconsistency with S&P 500 requirements. For instance, Q2 2024 delivered $10 billion in revenue and $14 billion in unrealized gains, while Q1 saw a $4.2 billion loss. The index requires four straight quarters of positive earnings—a threshold that has eluded Strategy due to its Bitcoin-heavy approach.

S&P Dow Jones Indices gave Strategy a ‘B-‘ credit rating, citing high Bitcoin exposure, low USD liquidity, and a narrow business model. These contribute to traditional finance skepticism about digital asset treasury companies. The rating shows the committee sees Bitcoin-based volatility as incompatible with the stability expected in S&P 500 members.

Even if Strategy meets the criteria for market capitalization and liquidity, the committee also considers business model diversity, financial stability, and sector representation. While some advocate for evolving index methodologies to include innovative treasury approaches, traditionalists insist on consistent, proven earnings, especially for benchmarks like the S&P 500.

Traditional Finance Meets Digital Asset Reality

The paths of SanDisk and Strategy highlight a broader divide between traditional finance and digital asset business models. Some crypto-exposed companies like Robinhood have entered the S&P 500, yet Strategy’s concentrated Bitcoin position poses unique challenges. The company’s stock is down 35% from its July high of $434, reflecting disappointment over exclusion and credit rating concerns.

Nasdaq’s scrutiny of digital asset treasury firms adds further obstacles for Strategy. As industry analysis notes, traditional finance’s skepticism extends beyond earnings volatility to concerns about long-term business models and regulatory compliance. This unease endures, even as Strategy has occasionally outperformed both Bitcoin and the S&P 500, as Saylor has highlighted.

On the other hand, MSCI’s recent consultation that Strategy could be removed from its key equity indices has sharpened investor focus on whether similar pressure might eventually extend to the S&P 500. While the company’s inclusion in MSCI USA and MSCI World has long funneled billions in passive capital into the stock, analysts now argue that its increasingly bitcoin-centric profile may no longer fit traditional index methodologies.

This has raised questions in the broader market about whether the valuation premium tied to expected index stability is at risk — and whether Strategy’s future index eligibility, including any long-shot hopes of S&P 500 admission, could be further complicated by the growing scrutiny.

The post Strategy Fails to Join the S&P 500 Once Again appeared first on BeInCrypto.

Crypto mining stocks jumped as much as 20% led by BitMine and Cipher Mining, after Amazon unveiled plans to invest up to $50 billion in AI infrastructure for U.S. government agencies.

This shift comes as Bitcoin miners face declining profitability following the 2024 halving event. Meanwhile, demand for AI compute capacity is soaring. Tech giants now view miners’ established power infrastructure as key to rapid data center growth.

Mining Stocks Post Double-Digit Gains as Focus Shifts to Infrastructure

The crypto mining sector saw a broad rally on Monday, notching a 13.84% sector-wide gain according to SoSoValue data. BitMine soared nearly 20%, while Cipher Mining rose more than 18%.

The rally followed Amazon’s announcement of an investment of up to $50 billion in AI infrastructure for US government agencies. The plan will add 1.3 gigawatts across multiple data centers, with construction set for 2026. Agencies will gain access to AWS tools, Anthropic’s Claude AI, Nvidia chips, and Trainium chips developed by Amazon.

Amazon also announced a $15 billion investment in Northern Indiana for new data center campuses, supporting 1,100 high-skilled jobs and 2.4 gigawatts of data capacity. This expansion underscores the scale of infrastructure required for AI workloads.

Meta has intensified its AI infrastructure efforts, seeking federal approval to trade electricity alongside Microsoft for long-term energy supply. Meta’s Louisiana campus alone is expected to require three new gas-fired plants.

Bitcoin Miners Evolve Into AI Power Players

The substantial stock gains reveal how bitcoin miners are transforming operations. Declining profits after Bitcoin’s April 2024 halving prompted miners to seek new revenue streams. AI data center developers, who now face electricity shortages, see miners’ grid-integrated facilities as strategic partners.

IREN, formerly Iris Energy, signed a $9.7 billion data center deal with Microsoft, granting the tech giant early access to Nvidia GPUs. IREN’s stock has shot up 580% this year since its rebrand. Other miners showed strong performance: Riot Platforms gained 100%, TeraWulf 160%, and Cipher Mining 360%.

The combined 14 gigawatts of power capacity among US miners has become key for tech firms seeking rapid scale. Favorable US policies, including Nvidia export restrictions to China, give domestic miners a competitive edge. In contrast, Chinese miners face more regulation and import barriers.

AI data center developers are now targeting bitcoin miners. These teams are approaching mining operations already running high-capacity, grid-integrated sites. Locations like Childress, Texas, have become major hubs for combined data and mining infrastructure.

Tech Leaders Accelerate Infrastructure Investments

Global tech firms are raising around $100 billion in bond offerings to fuel new AI and cloud capabilities. Amazon, Microsoft, Google, Oracle, and Meta could spend $400 billion this year on AI and data center investments. According to Deutsche Bank, total AI-related investment could reach $4 trillion by 2030.

The move signifies a shift from cash reserves to debt financing. Meta has launched its largest-ever bond sale, totaling $30 billion, for AI infrastructure. Amazon issued a $15 billion US bond, its first in three years, attracting $80 billion in demand. Amazon holds $69.29 billion in debt and $66.92 billion in cash.

Alphabet issued a $17.5 billion US bond and a €6.5 billion European bond, bringing its total debt to $48.78 billion. The aggressive borrowing reflects the immense capital needs for AI infrastructure.

The need for energy to power AI, however, surpasses grid expansion. With slow grid development, tech companies are securing direct energy sources. Apple already has federal approval to trade electricity wholesale, reflecting a trend of tech firms managing their own energy for AI infrastructure.

The merging of crypto mining infrastructure with AI compute demand signals a major strategic shift for both sectors. As bitcoin miners pivot to AI compute, their built-in power capacity and grid-ready sites enable tech giants to deploy quickly and compete in the fast-evolving AI landscape.

The post Mining Stocks Jump 20% as Amazon’s $50B AI Push Boosts Demand for Power appeared first on BeInCrypto.

XRP jumped more than 9% to $2.27 after Franklin Templeton and Grayscale launched their spot XRP ETF on Monday. The $1.69 trillion asset manager joined Bitwise, Grayscale, and Canary Capital in offering regulated XRP investment products, calling XRP “foundational” for global settlement infrastructure.

This wave of ETF launches marks a turning point for XRP. After regulatory uncertainty faded with Ripple’s SEC settlement earlier in 2025, institutional interest is surging.

Wave of Institutional ETF Launches Signals Market Maturity

Franklin Templeton debuted the Franklin XRP ETF (XRPZ) on NYSE Arca, offering regulated XRP exposure through a grantor trust. The fund tracks the CME CF XRP-Dollar Reference Rate and uses Coinbase Custody as custodian, with BNY Mellon as administrator. According to Franklin Templeton’s announcement, the ETF allows investors to follow XRP’s performance transparently, without buying the cryptocurrency directly.

“XRPZ offers investors a convenient and regulated way to access a digital asset that plays a critical role in the global settlement infrastructure,” stated David Mann, director of ETF products and capital markets at Franklin Templeton.

Grayscale has also launched its XRP Trust ETF (GXRP) with a zero-fee introductory period, highlighting XRP’s strong market position.

Introducing Grayscale XRP Trust ETF (Ticker: $GXRP), now trading with 0% fees¹ from Grayscale, the world's largest crypto-focused asset manager².

Gain exposure to $XRP, the world’s 3rd largest digital asset³, driving innovation in global payments. Available in your brokerage… pic.twitter.com/rAzGrm0M6P

— Grayscale (@Grayscale) November 24, 2025

Bitwise, which launched its XRP ETF a week earlier, reported $100 million in initial inflows. The clustering of ETF launches signals that asset managers were prepared for regulatory clarity, which arrived from the SEC in 2025.

Regulatory Resolution Paves Way for Wall Street Entry

Ripple’s $125 million settlement with the Securities and Exchange Commission in May 2025 ended years of uncertainty. SEC statements confirm that Ripple resolved all claims without admitting wrongdoing, paid $50 million directly to the agency, and had the rest released from escrow. This resolution gave large financial institutions the assurance needed to pursue spot ETFs.

Franklin Templeton’s participation is notable for its size, lending credibility to XRP’s story as a payment utility. Investors can now access XRP through regulated products managed by well-known custodians and with clear transparency.

Still, prospectuses caution that risks remain, including XRP’s volatility, limited diversification, and regulatory uncertainty abroad. The ETF holds only XRP and cash, making it unsuitable as a standalone investment.

XRP’s Technical Advantages Drive Institutional Interest

XRP runs on the decentralized XRP Ledger (XRPL), designed for rapid payment settlement. XRPL documentation highlights near-instant, low-fee transactions and notes that over 3.3 billion transfers have been processed on the network.

XRPL’s consensus system is said to be energy efficient, settling transactions in three to five seconds. These features attract institutions seeking alternatives to SWIFT and traditional cross-border systems.

Franklin Templeton’s prospectus and Grayscale Research both stress XRP’s usefulness as a currency bridge and for efficient, scalable transfers. With these characteristics, XRP sets itself apart from cryptocurrencies like Bitcoin, which mainly serve as a store of value.

The current rally coincides with rising open interest in XRP futures, pointing to growing involvement from institutional and retail traders and suggesting sustained market activity.

Geopolitical Dimensions and China Exposure Speculation

Some analysts believe XRP could play a role in new cross-border payment corridors, including those in Asia, the Middle East, and Africa. Black Swan Capitalist has argued that China has indirect exposure to XRP through the BRICS New Development Bank and leading Japanese fintech SBI Holdings. However, direct adoption remains limited by Chinese policies.

China already has indirect exposure to XRP through the BRICS New Development Bank, SBI, and the cross-border payment corridors linking Asia, the Middle East, and Africa. The rails don’t stop at the Great Wall, despite what some on Twitter might think.

— Black Swan Capitalist (@VersanAljarrah) November 21, 2025

BRICS business council recommendations from April 2025 urged support for cross-border digital settlements — a theme in line with XRP’s core design, despite no explicit mention of the cryptocurrency. The recommendations highlight a growing need for efficient digital payment systems.

The European Central Bank is also examining cross-border payment infrastructure. Project Nexus was discussed during an April 2025 speech about linking payment systems in Asia and Europe. These trends echo the global relevance of the XRP Ledger’s use cases.

The post XRP Jumps 9% as Franklin Templeton and Grayscale Launch Spot ETFs appeared first on BeInCrypto.

South Korea’s top payment platform and largest cryptocurrency exchange are set to merge, with board approvals expected on Wednesday and a public announcement planned for the next day.

This agreement will combine Naver Financial and Dunamu, the operator of Upbit, to form a powerful player that bridges traditional finance and digital assets in one of Asia’s largest economies.

Merger Timeline and Structure

The boards of both companies plan to meet on November 26 to approve the merger. After that, a joint announcement is expected on November 27. According to local media reports, top executives will attend a press conference at Naver’s campus.

The transaction will involve a complete stock exchange, making Dunamu a wholly owned subsidiary of Naver Financial. Current estimates value Naver Financial at about KRW 5 trillion and Dunamu at KRW 15 trillion. This difference suggests a 1:3 share exchange ratio.

Dunamu’s shareholders will exchange their stakes for shares in Naver Financial, and its principal holders are likely to take nearly 30% of the combined company. At the same time, Naver’s stake will decline from 69% to 17%, but operational control is expected to stay with Naver, one of South Korea’s top tech giants.

To comply with the country’s fair trade laws, Dunamu may assign over half of its voting rights to Naver. This step intends to address market concentration concerns while preserving the strategic advantages of the deal.

Strategic Outlook for the Combined Entity

This merger unites two complementary leaders in South Korea’s financial sector. Naver Financial runs the country’s most popular payment platform with strong ties to Naver’s e-commerce, search, and communication services. Dunamu dominates cryptocurrency trading through Upbit, processing billions in daily trading volume and serving millions of users.

The combined company seeks to create a comprehensive financial ecosystem that erases boundaries between traditional payments and digital assets. Their leaders expect to stress plans to compete with global tech giants. This strategy highlights the need for Korean fintech firms to scale and remain competitive beyond their home market.

Naver’s large user base and strong technology platform could accelerate the adoption of crypto among mainstream consumers. In return, Dunamu’s blockchain experience and regulatory know-how may boost Naver Financial’s edge in new financial technologies.

Regulatory Review and Future Impact

The proposed merger is under scrutiny by regulators. South Korea’s Financial Supervisory Service and Fair Trade Commission must both review the deal. The FSS will assess financial risk, especially the impact of combining a licensed payment platform with a virtual asset exchange. Regulators have long separated these sectors to prevent systemic risk.

Shareholder protection is another primary concern. With Naver’s stake falling below 20%, questions arise about governance and minority rights. Regulators will likely examine whether the agreement protects existing investors in both firms.

Competition authorities face a complex decision. While executives claim the merger is needed to compete globally, the Fair Trade Commission must determine whether it unfairly concentrates control over South Korea’s payment network and its largest cryptocurrency exchange. The review will focus on possible effects on market competition and consumer choice.

Approval will take months. Both companies must show that the merger’s benefits outweigh any risks to financial stability or fair competition. The decision could set a precedent for how traditional finance and digital assets may merge in South Korea and across Asia in the future.

The post Upbit Operator to Announce Merger with Korean Tech Giant Naver This Week appeared first on BeInCrypto.

FG Nexus sold $32.7 million in Ethereum to fund share buybacks after its stock fell 94% in four months, highlighting the deepening net asset value (NAV) crisis among digital asset treasury companies.

The sale follows ETHZilla’s $40 million ETH offload in October, underlining mounting pressures throughout a sector managing over $42.7 billion in cryptocurrency assets. This wave of forced selling underscores vulnerabilities in the corporate crypto treasury model, as companies wrestle with stocks trading below the value of their underlying asset holdings.

Treasury Companies Resort to Asset Sales Amid Stock Collapse

FG Nexus disclosed selling 10,922 ETH in October to support a $200 million share buyback. The company began repurchasing shares after its stock fell steeply below NAV, a measure of per-share underlying crypto value. FG Nexus retained 40,005 ETH and $37 million in cash, with total debt rising to $11.9 million, as of Wednesday.

The firm bought back 3.4 million shares at about $3.45 each, representing 8% of its outstanding shares. Management stressed that shares were purchased at a discount to NAV, which reached $3.94 per share by mid-November. This strategy, however, required roughly $10 million in debt and a liquidation of 21% of ETH reserves compared to September levels.

FG Nexus Sold $32.7M in $ETH: Treasury Companies Are Starting to Sell

🔹 FG Nexus sold $32.7M in ETH (10922 ETH)
🔹 Now holds around 40,005 ETH
🔹 Other DAT companies are also reducing their ETH positions
🔹 $FGNX Stock down -94% in 4 months

Their stock is also down 94% in the… pic.twitter.com/A0hXYQaKk3

— Crypto Patel (@CryptoPatel) November 20, 2025

FG Nexus is one of several digital asset treasury companies pursuing crypto sales. ETHZilla announced an approximate $40 million ETH sale to facilitate stock repurchases in late October. The company bought 600,000 shares for nearly $12 million since October 24, seeking relief from a persistent 30% discount to NAV.

When a DAT company’s shares trade at a discount to the value of its crypto holdings (mNAV below 1.0), shareholders push management to realize that hidden value. The most effective way to do this is through a stock buyback, but securing the funds necessary to repurchase shares requires cash. If the company lacks sufficient cash reserves, it must sell some of its crypto assets to finance the buyback.

The mNAV of Metaplanet, a DAT company that accumulates Bitcoin, dropped to 0.99 before recovering to 1.03. Its shares have lost 70% since their June highs, signaling sector-wide stress. The use of perpetual preferred equity, which blends fixed dividends with crypto exposure, further complicates capital structures already under pressure from current market conditions.

Leveraged Structures Amplify Market Pressure

DAT companies deployed $42.7 billion in crypto during 2025, with $22.6 billion accumulated in Q3 alone. This expansion accelerated as Bitcoin rallied above $126,000 in October, fueling positive feedback loops and rising valuations. However, subsequent reversals exposed weaknesses in capital structures built on leverage and capital market access.

Treasury companies account for only 0.83% of total crypto market capitalization. Their concentration of holdings, however, amplifies their impact during downturns. Leverage via convertible notes, PIPE deals, and perpetual preferred equity increases selling pressure when prices fall or NAV discounts widen.

Market liquidity deteriorated sharply as asset prices dropped. Bitcoin’s order book depth at the 1% band fell from $20 million to $14 million—a 33% decrease that heightens price sensitivity to any selling. Analysts estimate forced treasury company sales could reach $4 billion to $6 billion if 10% to 15% of positions are liquidated, potentially surpassing November’s $2.33 billion in ETF outflows.

Systemic Risks Mount as Buying Halts

Corporate crypto buying has stalled due to waning confidence and reduced capital deployment. Companies that once offered steady demand are now selling, reversing earlier positive cycles. MicroStrategy’s stock fell 60% amid Bitcoin volatility, showing the risk of correlation between crypto prices and equity values even for companies with solid balance sheets.

Smaller treasury firms are under increased stress, especially those holding less liquid assets. Several firms exposed to Solana experienced 40% NAV drawdowns as concentrated bets deepened losses. Limited diversification and thin trading volumes in alternative cryptocurrencies add to broader sector vulnerabilities.

Oof. BitMine is down $3.7 BILLION on its massive $ETH bet.

That's the risk of being a Digital Asset Treasury (DAT) company!

Question: Will we see more firms try this, or is this a flashing red warning for corporate crypto treasuries? $ETH ETFs are looming… pic.twitter.com/emOvzQQQTD

— DrBullZeus (@DrBullZeus) November 20, 2025

Retail investors also contributed to selling by exiting positions in advance, reducing market demand as institutional holders began liquidating. In November, $4 billion in ETF outflows and reduced market-maker activity intensified volatility. These conditions resemble leverage-fueled market crashes seen in other asset classes, such as the 2008 mortgage REIT crisis.

This growing crisis challenges the resilience of the digital asset treasury model in prolonged downturns. Rigorous risk management and regulatory oversight could be necessary to prevent self-reinforcing selloffs from destabilizing the broader market. In the weeks ahead, these companies’ ability to maintain their crypto holdings without further forced liquidation will determine whether the sector survives intact or undergoes fundamental restructuring.

The post DAT Firms Sell Crypto to Save Their Stocks: Is This Sustainable? appeared first on BeInCrypto.

Bitcoin’s recent price decline has revealed a sharp split in trading, with US sessions driving sell-offs while Asian traders steadily buy the dip. Data shows American sessions have become the weakest period for Bitcoin prices.

This divergence highlights contrasting risk appetites and sparks debate about whether Bitcoin is experiencing a healthy correction or facing deeper structural issues.

US Trading Drives Bitcoin Sell-Offs, Asia Absorbs Supply

This week’s price activity reflects a clear trend: US trading hours show persistent losses, with European sessions experiencing smaller declines. In contrast, Asian-Pacific markets remain comparatively stable and often support price recoveries. Data snapshots underline the US trading window’s central role in recent market drops.

An X user commented, “Every single America session consists of relentless selling for hours. Then the Asians wake up and buy it all back until the Americans wake up. Like literal clockwork”. This interplay has become a regular feature of current trading dynamics.

The split may stem from differing risk sentiment across regions. US selling is likely due to caution over macroeconomic signals, policy changes, or liquidity. By contrast, many Asian traders view dips as buying opportunities, either because of confidence in Bitcoin’s outlook or because of varied investment approaches.

Liquidity and market depth factor in, too. US trading brings high volume, so broad selling can strongly affect global price moves. When American traders favor selling, global prices drop until Asian buyers step in and restore balance.

It’s also notable that retail investors are generally bearish, while whales are bullish and US institutions are bearish. The Coinbase Premium Index, which reflects US institutional sentiment, has remained in negative territory for almost the entire month of November.

Institutional Players Alter Traditional Bitcoin Cycles

On-chain analyst Ki Young Ju offers a detailed view of today’s market landscape. He notes that Bitcoin’s bull cycle technically ended earlier in 2024 after reaching $100,000. Traditional cycle theory would suggest prices drop toward $56,000 to set a new cycle low.

If you are not trading futures and only holding Bitcoin spot, this looks like a reasonable long-term accumulation zone.

To be fair, from an on-chain cycle perspective, the bull cycle technically ended earlier this year when Bitcoin touched around $100K.

In classic cycle…

— Ki Young Ju (@ki_young_ju) November 20, 2025

Such institutional absorption creates a virtual price floor, since major holders with steady conviction are unlikely to sell during downturns. Traditional models assumed most participants might capitulate in a bear phase, but strategic corporate treasuries challenge that assumption.

Yet, some warn that concentration creates fresh risks. If institutions face financial stress or change strategies, any large sale could disrupt the market. So far, however, they remain committed to holding and accumulating Bitcoin.

Experts See Healthy Correction in Ongoing Bull Market

Chris Kuiper, vice president of research at Fidelity Digital Assets, sees the recent correction in a positive light. He describes the drawdown as a standard adjustment in a larger bull market, not a sign that the cycle is over.

Kuiper’s analysis uses on-chain signals, such as the MVRV ratio for short-term holders. These stats indicate that the current price tests recent buyers’ conviction, echoing prior corrections that preceded further rallies. It shows that those who bought recently face unrealized losses before the market resets and trends higher.

Lack of negative headline events supports his interpretation. No significant regulatory action, exchange failures, or macro shocks have triggered the pullback. Instead, profit-taking and leverage liquidations after Bitcoin’s rally toward $100,000 appear to be the main causes.

Is this a local bottom for #bitcoin and other digital assets?

I as well as anyone never knows for sure, but one chart I do like to use to help gauge the probabilities is the short-term holder MVRV chart along with their cost basis (first chart).

Note that if this indeed is a… pic.twitter.com/B66onRgEgl

— Chris Kuiper, CFA (@ChrisJKuiper) November 19, 2025

Traders now weigh two scenarios. The split between optimistic Asian buyers and cautious US sellers could be resolved if American sentiment improves or persists if global market structures shift further. Broader macro trends—such as government liquidity measures and regulatory changes—are likely to determine which path the market takes in the coming months.

The post Why Does Asia Keep Buying Bitcoin While Americans Are Selling? appeared first on BeInCrypto.

Block, Inc. shares soared almost 9% on Wednesday after revealing plans to achieve $15.8 billion in gross profit by 2028 and announcing a $5 billion share repurchase, underscoring confidence in continued profitability.

The three-year outlook, launched at the 2025 Investor Day, marks a strategic shift for the Jack Dorsey-led company. Block is moving beyond its core point-of-sale operation into consumer services, artificial intelligence tools, and Bitcoin infrastructure.

Comprehensive Financial Targets Reflect Transformation

Block mapped out a roadmap targeting mid-teens percentage gross profit growth annually through 2028. The company expects adjusted operating income to rise about 30% per year, reaching $4.6 billion by 2028. Adjusted earnings per share are projected to grow by more than 30% each year, reaching $5.50 in 2028.

The event featured a rare appearance by CEO Jack Dorsey. The stock had dropped 30% earlier in 2025 due to competition in payments. However, the trading halt and subsequent announcement quickly reversed that decline.

For fiscal year 2026, Block projects gross profit rising 17% to nearly $12 billion. Adjusted operating income and earnings per share are each expected to climb by more than 30%, reaching $2.7 billion and $3.20, respectively. The new non-GAAP cash flow metric, which accounts for capital needs in lending, is forecast to get 25% of gross profit—more than $4 billion—by 2028.

Block aims to achieve the “Rule of 40” benchmark in 2026 and sustain it through 2028. This performance measure, combining revenue growth and profit margin over 40%, is a key target for software and fintech firms. Block’s official release emphasized efficiency, scale, and product innovation in its financial networks.

The expanded buyback program adds $5 billion to the $1.1 billion remaining from a previous authorization. In total, Block now has about $6.1 billion available for share repurchases, signaling confidence in cash generation.

Recent Performance Lays Out Growth Platform

Block reported mixed Q3 results, with earnings and revenue slightly missing analyst expectations. However, gross profit rose 18.3%, driven primarily by Cash App’s 24.3% increase. Square also contributed with a 9.2% gain in gross profit.

Cash App remained Block’s growth engine. Monthly active users reached 58 million, with profit per user rising 25.3%. Gross Payment Volume grew 10.9% year-over-year.

Subscription and services revenue increased 22.6%, indicating healthy recurring income streams. Bitcoin-related revenue, however, fell 19%. Despite this, Block maintains strong liquidity with ample cash reserves against manageable debt levels.

Management noted that since 2022’s investor day, gross profit has nearly doubled and adjusted EBITDA has tripled. The company now runs 26 products generating over $100 million in annual gross profit, showing healthy diversification across its portfolio.

Strategic Initiatives Broaden Block’s Reach

Block’s expansion plan includes ventures in tech and finance beyond payment processing. Its brands include Square, Cash App, Afterpay (buy-now-pay-later), TIDAL (music streaming), Bitkey (Bitcoin wallets), and Proto (Bitcoin mining products).

In October, Square launched Square Bitcoin, enabling over 4 million US merchants to accept and manage Bitcoin through existing Square systems. Merchants can accept Bitcoin at checkout, convert up to 50% of daily sales, and manage holdings on the Square Dashboard.

The Bitcoin payment program began with zero transaction fees for 1 year, starting November 10, 2025. The rollout covers all US states except New York due to regulatory limits. The 2024 pilot saw merchants accumulate 142 BTC, indicating strong interest in BNB and other cryptocurrencies among retailers.

The company is deploying artificial intelligence tools for merchants and expanding Cash App’s financial services. Management stressed technical unification and efficiency across the ecosystem. These efforts aim to reduce reliance on the core point-of-sale business, where competition from PayPal, Stripe, and traditional processors has grown.

COO and CFO Amrita Ahuja underscored Block’s focus on scale and long-term value. Leadership voiced confidence in innovation and investment as drivers of compounding growth and margin expansion through 2028.

10 years ago today we IPO’d…we’ve always been about the neighborhood. https://t.co/0Hq4e0QM2L pic.twitter.com/DQDotT0DOZ

— Block Investor Relations (@BlockIR) November 20, 2025

Over its 10-year journey since its 2015 IPO, Block has transformed from a card reader provider into a diversified fintech giant. The November 19 announcements seek to chart a clear path as the company matures in core markets and pursues growth in cryptocurrency infrastructure and AI-driven services.

The post Block Announces $5B Buyback and 30% Annual Growth Goal in Bold Three-Year Strategy appeared first on BeInCrypto.

Nvidia surprised markets by posting fiscal third-quarter revenue of $57.01 billion, beating Wall Street estimates by almost $2 billion.

Meanwhile, Bitcoin rebounded above $91,000 after briefly dipping below $89,000, as analysts attributed much of the crypto market’s decline to growing concerns about a potential AI bubble.

Nvidia Smashes Wall Street Targets During Volatility

The chip giant reported $1.30 earnings per share and revenue of $57.01 billion for its fiscal third quarter, outperforming estimates of $1.26 EPS and $55.2 billion in revenue. Its data center business, which enables AI applications, contributed $51.2 billion—showing a sharp rise from previous periods.

CEO Jensen Huang noted ongoing strong demand for the company’s Blackwell chip architecture and cloud GPUs, reporting that products remain sold out. Nvidia’s forward guidance was also robust, with projected fiscal fourth-quarter revenue of $65 billion—beating analyst forecasts of $62 billion.

CFO Colette Kress pointed to another driver behind the firm’s results: CUDA-powered accelerators are extending hardware lifespans, boosting customer value, and solidifying Nvidia’s competitive edge in AI infrastructure. While the gaming unit drew $4.3 billion in revenue—slightly under expectations—it still delivered solid returns.

Nvidia’s market value recently surpassed $5 trillion, reinforcing its status as the world’s most valuable company. The stock has climbed 37% year-to-date and 25% over the last 12 months. Shares surged 5% following the earnings report, while chipmakers like AMD and Micron also rode the AI wave.

Bitcoin Rebounds as AI Investment Sentiment Returns

Bitcoin recovered on Thursday morning in Asia, jumping above $91,000 after testing lows below $89,000. The quick rebound implies some investors view current prices as entry opportunities despite uncertainty.

Major investors have recently shown caution toward AI stocks. Peter Thiel exited a $100 million stake in Nvidia. SoftBank sold about $5.8 billion in shares. These moves sparked debate over whether AI-driven rallies can last.

Regulators have also flagged risks. The Bank of England warned of systemic threats from widespread AI use in finance. The IMF cited bubble risks in its global stability assessments.

A Bank of America survey found 45% of fund managers see an AI bubble as the most significant market threat. Google CEO Sundar Pichai and JP Morgan’s Daniel Pinto warned of “irrationality”. Klarna’s CEO expressed concern over massive data center investments driven by AI demand.

However, Nvidia’s Q3 results revived AI investment sentiment. Nvidia defended its business model during its earnings call, while the data center’s accounting methods had been questioned. The strong results proved AI demand remains robust despite skepticism. Bitcoin prices also appeared to benefit from the renewed optimism.

Risk Correlations Deepen Across Crypto and Equities

Recent market turmoil has shown an increased correlation between cryptocurrencies and traditional risk assets. Bitcoin’s decline has mirrored declines across major stock indices such as the S&P 500, Nikkei 225, Hang Seng, and Stoxx Europe 600. Crypto-linked stocks are now more often seen as closely tied to the global risk environment.

Gold, usually considered a haven, also fell amid uncertainty. Rising US interest rates and reduced hopes for near-term Federal Reserve rate cuts have pressured both gold and cryptocurrencies. The global crypto market lost over $1 trillion in value over the last six weeks, losing a quarter of its value since October.

Technical outlooks on Bitcoin remain split. Some analysts interpret current trading as re-accumulation—long-term investors buying at lower prices. Others argue that buyer fatigue signals a possible deeper correction ahead.

Nvidia’s robust results offer some reassurance to investors amid concerns about a bubble. However, whether this can restore wider market confidence or prove to be an outlier remains uncertain as investors navigate complex signals around technology valuations and the economic outlook.

The post Nvidia Posts $57B Record Revenue Pushing Bitcoin Above $91K appeared first on BeInCrypto.

The US Bitcoin exchange-traded funds (ETFs) keep flowing out as the crypto Fear and Greed Index dropped to 11, reflecting extreme fear.

Retail investors have stayed out of the market during this downturn, while data shows that whales are the primary buyers amid the selloff.

ETF Outflows and Retail Absence Signal Market Shift

US Bitcoin spot ETFs have experienced persistent capital flight, with holdings declining from 441,000 BTC on October 10 to about 271,000 BTC by mid-November. This marks a sharp reversal from institutional support earlier this year.

According to Farside Investors data, Bitcoin ETFs have now logged four consecutive days of outflows, extending the defensive tone that has dominated the month. Earlier in the period, redemptions peaked at well over $800 million in a single day, highlighting how sharply sentiment had soured. The latest figure shows a much smaller outflow of around $60 million, but still signals that buyers remain cautious and momentum has yet to turn.

Spot average order size metrics show that retail traders are not returning, even as Bitcoin has dropped almost 27% from its October 6 all-time high of $126,272.76. Exchange data from Binance, Coinbase, Kraken, and OKX indicates larger order sizes, highlighting whale activity rather than small-scale retail buyers.

The Fear and Greed Index plummeted to 11, underscoring extreme market fear. Historically, such levels correlate with market bottoms, but retail investors remain cautious and reluctant to engage. In the morning hours in Asia, Bitcoin traded at somewhere between $91,000 and $92,000, down more than 3% in 24 hours and 13-14% for the week. Ethereum briefly slipped below $3,000, and Solana was at around $130, declining over 5% in 24 hours and 21% over the week.

Whale Accumulation amid Market Weakness

As retail investors sit on the sidelines, large players continue to accumulate aggressively. A whale purchased 10,275 ETH at $3,032 for $31.16 million USDT within 24 hours before November 17, based on on-chain monitoring by OnchainLens. Between November 12 and November 17, this address acquired a total of 13,612 ETH for $41.89 million USDT, at an average price of $3,077.

Permanent Bitcoin holders—wallets that have never recorded outflows—are supporting what CryptoQuant describes as the largest accumulation surge in recent selloffs. Permanent holder demand rose from 159,000 BTC to 345,000 BTC, marking the biggest absorption in several cycles. This substantial accumulation occurred even as the price fell, highlighting a stark divergence between long-term and short-term market behaviors.

This divergence between whale accumulation and retail caution highlights a shift in market dynamics. However, CryptoQuant CEO Ki Young Ju notes that the current dip involves long-term holders rotating coins among themselves rather than new money entering the market. This suggests the drawdown does not mark the start of a new bear market, though current conditions may not present the classic buy-the-dip moment sought by retail.

Structural Changes and Institutional Dynamics

This selloff differs from past crypto winters. Major financial institutions, including JPMorgan, now accept Bitcoin as collateral for loans despite its price weakness. This evolving infrastructure offers more support compared to previous bearish cycles. Deeper liquidity is available, helping to steady the market.

Technical signals remain bearish for now. Bitcoin has dropped more than 20% from its record high; recently, its 50-day moving average fell below its 200-day moving average—a “death cross.”

Macroeconomic factors add more pressure. The Federal Reserve delayed interest rate cuts, and global central banks maintain tightening. Falling Treasury liquidity creates headwinds for risk assets. Still, analysts see longer-term macro trends—such as high sovereign debt and ongoing geopolitical tensions—as supportive for Bitcoin in the future.

Mining firms are adjusting accordingly. Frank Holmes, executive chairman of HIVE Digital Technologies, emphasized that his company will continue mining and holding Bitcoin, unlike competitors who are pivoting to high-performance computing. He contends that building Tier 3 data centers for GPU work is both costly and complex, so his mine-and-hold strategy will continue despite volatility.

The post Bitcoin ETF Outflows Persist: Whales Feast and Retail Vanishes appeared first on BeInCrypto.

DappRadar, the leading blockchain analytics platform tracking decentralized applications since 2018, will permanently shut down due to ongoing financial challenges that made continued operations unsustainable.

Founded during the CryptoKitties boom, DappRadar became essential for millions of users and thousands of developers seeking blockchain insights. The company will address matters regarding its DAO and RADAR token separately, as stated in its closure notice.

Seven-Year Journey Ends Amid Financial Pressures

The closure of DappRadar marks the end of an influential era for blockchain data analytics. Starting in 2018, DappRadar capitalized on the momentum of CryptoKitties, showcasing the versatility of blockchain applications. At its peak, it delivered analytics for hundreds of blockchains, covering key data points such as transaction volumes, trades, and user activity.

The platform became a go-to resource for developers, investors, and analysts. DappRadar aggregated real-time data across more than 50 blockchains, spanning decentralized finance, gaming, and NFTs. Its analytics empowered users to track trends and assess the performance of blockchain networks.

Despite these successes, financial realities outpaced DappRadar’s expansion. In their official announcement, the co-founders, Skirmantas and Dragos, highlighted financial unsustainability as the key factor behind the shutdown. Their decision spotlights broader challenges for blockchain analytics platforms in 2025, amid increased market volatility and shifting user interests.

The European Central Bank reported a drop in crypto market capitalization to $2.8 trillion by March 2025, emphasizing the volatility affecting crypto businesses. Blockchain analytics services also face mounting technical hurdles, including data accessibility, scalability, and tracking the rapidly increasing number of blockchain networks.

Wind-Down Process and Token Considerations

DappRadar’s shutdown affects multiple stakeholders: users, developers dependent on its data feeds, and RADAR token holders. RADAR price plunged 38% after the company’s announcement, which clarified that DAO and token matters will be communicated separately. While specifics remain unclear, this careful approach suggests a commitment to responsible management.

The founders reiterated their dedication to transparency throughout the wind-down process. By inviting community feedback, they recognized DappRadar’s influence among millions of users seeking dependable blockchain analytics. The shutdown may prompt developers and analysts to seek alternative solutions, potentially disrupting data workflows.

DappRadar’s exit leaves a gap among analytics providers. While competitors like Chainalysis and blockchain-specific explorers remain, DappRadar was unique in offering a cross-chain view of decentralized applications and markets.

Industry Context and Future Outlook

The closure comes at a time of rapid transformation in the cryptocurrency sector. Despite the broader digital asset market exceeding $4 trillion in 2025, individual firms confronted persistent profitability concerns. Analytics companies in particular struggle with rising infrastructure costs and with generating sustainable revenue.

Research from Global Market Insights estimates the crypto trading platform market at $27 billion in 2024, with an annual growth rate of 12.6% through 2034. Notably, most of this growth centers around trading, not analytics, underscoring the revenue challenges analytics providers face. Monetization models favor trading and financial services, making sustainability difficult for analytics-driven firms.

Blockchain analytics platforms also navigate technical complexities. Issues with data quality arise from chain forks and stale blocks, while interoperability between blockchains complicates unified analytics. As a result, operational costs remain high, with few revenue offsets, especially as more free tools become available.

DappRadar’s closure raises questions about the long-term viability of multi-chain analytics platforms. Will new competitors fill this gap, or will the market fragment into smaller, niche services? Although uncertain, DappRadar’s seven-year run demonstrates both the promise and difficulty of building foundational blockchain infrastructure in a rapidly evolving market.

The post End of an Era: ‘CryptoKitty Age Star’ DappRadar Shuts Down, Token Tanks 38% appeared first on BeInCrypto.

Bitcoin plunged to a six-month low of $91,545 on Tuesday morning in Asia, breaching key support. Ethereum also slipped below $3,000, highlighting widespread market weakness.

The crypto downturn aligned with traditional markets, which endured their worst session in a month.

Market Plunge Erases Weeks of Gains

Bitcoin lost 3.21% on November 17, bringing its value down by 27% from its October all-time high. Ethereum posted a deeper 4.22% fall to $2,978. Major altcoins also saw sharp weekly declines. Solana tumbled 22.51%, XRP slid 16.73%, and Cardano fell 22.12% over the seven-day period.

Losses extended beyond crypto. The S&P 500 dropped 61.70 points to 6,672.41, and the Nasdaq fell 192.51 points to 22,708.07. Both closed below their 50-day moving averages, ending streaks not seen since 2007 and 1995.

The Dow Jones Industrial Average fell by more than 550 points as investors anticipated Nvidia’s earnings. Technical analysts saw the breaks as short-term bearish, focusing on the 200-day average as support. Money moved into healthcare and energy while retail investors reduced risk.

Bitcoin CME Gap Closes After Seven-Month Overhang

A major technical event unfolded as Bitcoin filled the last large CME futures gap near $92,000. The gap, open since April 2025, resulted from the CME’s weekend closure while spot exchanges continued trading. These price gaps typically get filled, removing technical overhang, though this does not guarantee a price reversal.

Cryptocurrency trader DaanCryptoTrades confirmed the closure on social media, noting that the risk had been eliminated. Despite removing a downside target, weak demand could still lead to further declines. The technical picture remains fragile.

Traders are now at a crossroads. With the gap closed, there is less immediate risk below, but price action is still weak. Volatility and liquidity responses in upcoming sessions will determine whether Bitcoin loses momentum to slide lower or forms a base.

Macro Headwinds and Fed Rate Cut Uncertainty

Broader economic signals added to market stress. The Empire State Manufacturing Index surged to 18.7, up 8 points from the previous month. This strong result reduced the odds of a Federal Reserve rate cut in December. Market probabilities shifted: Polymarket put the chance of no cut at 55%, while CME Group data pointed to a 60% chance of an unchanged policy.

Research firm 10X Research said new buyer activity stalled around October 10. The Fed’s more hawkish signals added pressure. Their analysis warned that conditions remain vulnerable to further liquidations.

The industry’s sentiment index neared recent lows, reflecting shaken market psychology. Option data highlighted a switch: put volume exceeded call volume in the last day, even as calls typically dominate. This shift signals traders bracing for more downside or betting on a drop.

On-Chain Signals Point to Capitulation Phase

On-chain analytics from Glassnode and Bitfinex showed that realized losses were stabilizing, suggesting that short-term holders are capitulating. History indicates that market bottoms often follow waves of selling by those who bought at recent highs. A lasting recovery, however, requires long-term accumulation.

Analyst Benjamin Cowen suggested Bitcoin could test the 200-week exponential moving average between $60,000 and $70,000. However, he also noted that a relief rally is possible first. Analyst forecasts vary, reflecting ongoing uncertainty and the potential for a short-term bounce amid notable technical damage.

While I think Bitcoin will go to the 200W SMA ($60k-$70k) in 2026, there is a high probability it will have a bounce back to the 200D SMA before going that low.

All prior cycle bear markets were confirmed by a macro lower high at the 200D SMA. pic.twitter.com/1S477LVLhf

— Benjamin Cowen (@intocryptoverse) November 17, 2025

Bearish projections surfaced on social media. Roman Trading cited $76,000 as the next support level, citing broken patterns and weakening momentum. While these are individual opinions, they show traders are wary of more downside.

The coming days will reveal if Bitcoin can hold above $90,000 or if sellers increase pressure. Economic data, central bank remarks, and institutional flows will likely steer the direction. For now, risk remains elevated as both bulls and bears wait for clearer signals.

The post Crypto Bloodbath: Bitcoin Loses $92K: Ethereum Slips $3K — Worst Drop in Months appeared first on BeInCrypto.

France has officially lifted all travel restrictions on Telegram founder Pavel Durov as of November 13, 2025, bringing to an end a year of mandatory police check-ins and movement restrictions. The dual French-Russian citizen, detained in Paris in August 2024, can now cross borders freely without judicial oversight.

This development is pivotal in an ongoing criminal investigation that could lead to Durov facing up to 10 years in prison and fines of over $550,000.

From Detention to Freedom: Timeline of Durov’s Legal Restrictions

Durov’s legal troubles began when authorities arrested him at Paris’s Le Bourget Airport in August 2024. The charges involved allegations that Telegram enabled organized crime due to insufficient content moderation. French prosecutors accused the platform of refusing to cooperate in tackling illegal content, with a particular focus on child sex abuse material.

Initially, Durov was barred from leaving France and had to report regularly to the police in Nice. Over several months, the restrictions eased, permitting short, controlled trips to the United Arab Emirates for no more than two weeks. However, he remained under French jurisdiction until now.

According to France 24, Durov complied with all requirements for one year before authorities lifted both travel and judicial restrictions. As a result, mandatory police check-ins and all geographic limitations on his movement were eliminated.

Durov faced three interrogations by French authorities. His lawyers consistently challenged the investigation’s legitimacy and methods, arguing that they violated both domestic and European law.

Criminal Investigation Remains Active as Restrictions End

Although Durov is free to travel, the criminal investigation is ongoing. French authorities are examining Telegram’s alleged role in facilitating illicit transactions, the distribution of child sex abuse imagery, and enabling illegal content. The charges focus on complicity in organized crime rather than direct involvement.

The case portrays Telegram as a platform vulnerable to criminal misuse because of its limited content moderation. During questioning in December 2024, Durov acknowledged growing criminal abuse on Telegram and promised stronger oversight. The platform has since introduced additional moderation tools.

Telegram implemented advanced AI-powered moderation systems in early 2024, according to company documentation. In 2025, the platform reported blocking more than 34 million groups and channels, demonstrating increased enforcement. These steps address frequent criticism that Telegram enables criminal networks.

Despite compliance efforts, Durov still faces the risk of 10 years imprisonment and fines up to $550,000 if convicted. The investigation could set key precedents for platform accountability in Europe, especially for encrypted messaging services popular within cryptocurrency communities.

Durov Criticizes French Authorities, Voices Free Speech Concerns

During the investigation, Durov has publicly criticized French authorities and expressed concerns regarding government overreach. He accused prosecutors of procedural errors and argued that his arrest harmed France’s reputation as a supporter of freedom. Durov has characterized the proceedings as an attack on free speech and encryption.

His defense argues that Telegram acts as a neutral platform, not a vehicle for crime. Durov has positioned himself as a defender of privacy and free expression, standing against what he considers European censorship. This view has resonated with cryptocurrency and privacy advocates who regard encrypted communications as vital to digital freedom.

Social media reactions to the removal of the travel ban have been positive among Durov’s supporters. Nevertheless, the broader legal implications are unresolved. Both Paris prosecutors and Durov’s legal team declined public comment on the current status, so questions about trial timing and outcomes remain.

The case underscores ongoing tensions between privacy-focused tech platforms and regulatory enforcement. As France’s investigation continues, its outcome could influence the regulation of messaging services and platform accountability for user content across Europe. For now, Durov’s restored freedom of movement represents a partial win, yet the legal dispute is far from settled.

The post France Lifts Travel Ban on Telegram Founder Pavel Durov appeared first on BeInCrypto.