Market Overview (24 Hours)

Bitcoin traded in a $104,382–$107,500 range and stood at $105,334 as of 09:30 UTC on November 11, down 1.03% over 24 hours. Ethereum fell 0.79% to $3,578, while Solana dropped 2.15% to $164.15. The total crypto market capitalization slipped 1.37% to $3.54 trillion, with risk sentiment remaining subdued. The Crypto Fear & Greed Index fell three points to 26 (Fear zone).12

Derivatives & Liquidations: Bitcoin open interest declined post-October deleveraging, with futures OI at approximately $68 billion (down from a $94 billion peak last month). Total liquidations over the past 24 hours fell 6% to $339 million, with $244 million in long positions liquidated during a sharp sell-off. Funding rates hovered near neutral (+0.01% on major exchanges), signaling cautious positioning. CME Bitcoin futures open interest stood at 137,570 BTC.3456

Stablecoin Flows: Tether minted $1 billion USDT on November 10, signaling potential liquidity injection. USDT remains dominant at 83% of retail payment market share, while USDC commands over 50% of DeFi activity. Total stablecoin supply remains elevated as a proxy for fiat on-ramps.789

Top Headlines (Risk: Medium to High)

U.S. Regulatory Developments (Risk: High)

  • Senate Agriculture Committee Released Draft Crypto Market Structure Bill (November 10, 09:00 UTC): Senators John Boozman and Cory Booker unveiled a bipartisan draft granting the CFTC authority over spot digital commodity trading, defining commodities vs. securities, and establishing disclosure rules for exchanges and custodians. Acting CFTC Chair Caroline Pham stated the bill aims to “bring offshore crypto activity back onshore”.101112
  • Treasury/IRS Approve Staking for Crypto ETPs (November 10, time unspecified): Treasury Secretary Scott Bessent announced new guidance allowing crypto exchange-traded products to stake assets like ETH, ADA, and SOL and distribute rewards to investors, marking a major shift toward institutional staking integration.13

Protocol & Ecosystem Developments (Risk: Medium)

  • Uniswap Labs and Foundation Propose “UNIfication” Governance Overhaul (November 9–10, exact timestamp unspecified): The proposal, posted to governance forums, calls for activating protocol fees, burning 100 million UNI from the treasury (~amount that would have been burned if fees were on from inception), consolidating Foundation teams under Labs, and creating a 20M UNI annual growth budget starting January 2026. UNI surged 23% intraday (to ~$9.94) on the news, then cooled. Snapshot vote expected; on-chain vote pending approval.414151617

Exchange & Product Announcements (Risk: Medium)

  • Binance Postponed Allora (ALLO) Trading Launch (November 11, 13:00 → 14:00 UTC): Trading delayed by one hour; users with ≥220 Alpha Points can claim 50 ALLO airdrop at 11:00 UTC (19:00 Asia/Taipei).18
  • Coinbase Launching Token Sale Platform; First Public Sale for Monad (MON) (November 17–22, 09:00 ET start): Coinbase announced its end-to-end token sale platform, with Monad’s public sale offering 7.5% of initial supply at $0.025 per token. Monad mainnet and token airdrop (3.3% of supply) launch November 24, 09:00 ET. Coinbase added Fluid (FLUID) and Nomina (NOM) to listing roadmap.192021

Security Incidents (Risk: High)

  • Balancer DeFi Protocol Exploit (~$120–$128 Million Lost, November 4, early morning UTC): Balancer V2 vaults on Ethereum, Base, Polygon, and Arbitrum were drained via an invariant manipulation attack exploiting improper access controls in the manageUserBalance function. Approximately $99 million in ETH stolen; several Balancer forks (Beets on Sonic, Beethoven on Optimism) also affected. Balancer paused affected pools and is working with security/legal teams; post-mortem pending. Hacker funds moved to ETH (25,300 ETH tracked). Some recovered funds reported (Berachain Foundation recovered ~$12.8M).2223242519

Funding & M&A (Risk: Low)

  • Ripple Raises $500 Million at $40 Billion Valuation (November date unspecified, announced ~Nov 10): Led by Citadel Securities and Brevan Howard.26
  • **Strategy (MSTR) Purchased 487 BTC (~$50M, largest buy since late September).27

Exchanges (Last 72 Hours)

Listings & Delistings:

  • Binance: New trading pairs for KITE and MMT (BNB/USDC/USDT) effective November 10, 14:00 UTC+7; Janction (JCT) launched on Binance Alpha and Binance Futures (November 10, 10:00 UTC); removed spot pairs INIT/BNB, IOTX/BTC, PEOPLE/BTC, RESOLV/FDUSD, RUNE/FDUSD, USUAL/BTC (November 7, 03:00 UTC). Trading bots services added for MINA/USDC, XVG/USDC (November 11, 08:00 UTC).[^28]282930
  • OKX: Launched Allora (ALLO) spot trading with “Flash Earnings” event (November 11, 21:00 UTC+8 to November 14, 21:00 UTC+8) and trading bonus pool of 2,375,000 ALLO.18

Maintenance & Network Support:

  • Binance: Supporting Injective (INJ) network upgrade and hard fork; deposits/withdrawals suspended starting November 11, 13:00 UTC (upgrade at block 141,150,000, ~14:00 UTC). Supporting Stacks (STX) network upgrade; suspending deposits/withdrawals November 11, 23:00 UTC+8 (upgrade at block 923,222, ~Nov 12, 00:00 UTC+8).3119
  • Bybit: Adjusted maximum order size for select USDT perpetual contracts (effective November 11, 08:00 UTC).32

Notable: Binance topped CoinDesk’s November 2025 Exchange Benchmark with 93.4 score (AA rating), followed by Bitstamp (89.3), Coinbase (88.0), Kraken (87.0). No prolonged outages reported at Top-Tier exchanges.33

Regulation/Law (Last 7 Days)

United States (Risk: High)

  • SEC/CFTC Joint Harmonization Statement (September 5, 2025; market-relevant through November): Chairs Paul Atkins (SEC) and Caroline Pham (CFTC) announced joint roundtable (September 29) and outlined plans for “innovation exemptions” for DeFi protocols, expanded trading hours, clarified prediction markets, and onshore perpetual contracts. Joint statement on spot commodity products (September 2) confirmed Retail Commodity Transactions legal on registered exchanges.34
  • Senate Crypto Market Structure Bill Draft Released (November 10): As noted above, Boozman/Booker bill grants CFTC oversight over digital commodities, establishes exchange/custodian registration, and mandates SEC-CFTC coordination on inter-agency rules.1210

Hong Kong (Risk: Medium)

  • SFC Eases Crypto Regulations (November 3, 2025): Circular on “Expansion of Products and Services” allows licensed VATPs to tap global order books from offshore affiliates (subject to FATF/IOSCO compliance) and removes 12-month track record requirement for stablecoins from licensed issuers offered to retail, and for other assets offered to professional investors. SFC also issued circular on “Shared Liquidity” allowing exchanges to connect offshore liquidity.35363738
  • HKMA/SFC Joint Statement on Stablecoin Speculation (August 14, 2025; still relevant): Warned of misleading stablecoin issuer licence claims on social media and in corporate announcements; noted HKMA has only granted a “handful” of licences.39

European Union (Risk: Medium)

  • MiCA Implementation & Review (2025 ongoing): MiCA fully effective since December 30, 2024. France, Austria, Italy NCAs (AMF, FMA, Consob) issued joint communication (date unspecified) proposing ESMA direct supervision of significant CASPs, mandatory use of MiCA-compliant order books, harmonized cybersecurity audits, and centralized token offering notifications via ESMA. ESMA noted fragmented supervision and proposed adjustments.4041

Brazil (Risk: Medium)

  • Central Bank Issues Comprehensive Crypto Regulations (November 10, 2025): New framework requires all Virtual Asset Service Providers (VASPs) to obtain Central Bank authorization by February 2026 (compliance deadline November 2026). Rules classify stablecoin-to-fiat swaps as foreign exchange operations, cap unapproved cross-border transfers at $100,000, and impose banking-level AML/CFT, cybersecurity, governance, and capital requirements (up to $7M for certain categories). Brazil processed $319 billion in crypto transactions (mid-2024 to mid-2025), ranking 5th globally.424344

No material updates from Taiwan FSC, Singapore MAS, Japan FSA, UK FCA within the 7-day window.

Research/White Papers (Last 14 Days)

  • Glassnode x Gemini 2025 Market Trend Report (published June 19, 2025; still circulating): 30+ pages covering Bitcoin, Ethereum, Solana institutional vs. retail dynamics, ETF flows, and futures markets. Follow-up Q2 and Q3 2025 Charting Crypto reports (Coinbase x Glassnode) analyzed Bitcoin dominance rebound to 64%, ETH sentiment shift from capitulation to belief, and profit-taking by long-term holders.454647
  • PwC Global Crypto Regulation Report 2025 (published March 20, 2025; cited in November discussions): Analyzed global DeFi oversight expansion, U.S. stablecoin legislation (GENIUS Act, July 2025), and Basel Committee crypto asset standards (implementation January 2026).48

No new protocol white papers or major technical reports surfaced in the 7–14 day window from reputable sources (Messari, Kaiko, Chainalysis, academic preprints).

Security Incidents (Confirmed)

  • Balancer Hack (November 4, ~$120–$128M): Detailed above. Halborn analysis suggests attack may have been partially AI-generated (vibe-coded contract with console.log instructions); attacker funded transaction with 100 ETH from Tornado Cash. Community offering 20% white-hat bounty; Balancer committed to post-mortem.244922

No other material exploits confirmed in the 24–72 hour window.

What to Watch (Next 24–72 Hours)

  1. Monad Public Sale Opens (November 17, 09:00 ET / 14:00 UTC): 7.5% of supply at $0.025/token on Coinbase Token Sales platform. Mainnet/airdrop launch November 24.20
  2. Token Unlocks (November 10–16, total ~$905 million): Major releases include Aptos ($32.1M, Nov 12), Linea ($35.25M, Nov 10), Starknet ($14.2M, Nov 15), Sei ($8.8M, Nov 15), and Aster ($84.99M, Nov 17). Watch for supply-side pressure, especially in volatile markets.50515253
  3. Ethereum Fusaka Upgrade (December 3, 21:49 UTC): Mainnet activation of PeerDAS and 12 EIPs to scale blob throughput (8x increase) and reduce L2 costs. Final testnet (Hoodi) passed without issues October 29.54555657
  4. ETF Flows (Daily): BTC ETF flows remained modest (+$1.2M on November 10) after weekly outflows of $1.22B (week ending November 7, third-largest on record). Solana ETFs extended inflow streak (+$6.8M November 10). Monitor for reversal signals.58596061
  5. U.S. Government Shutdown Resolution & CPI Print (November 12, time TBD): Senate advanced funding resolution to end 40-day shutdown; House approval pending. CPI data release could influence Fed rate-cut expectations (64% probability for December). Both catalysts for near-term volatility.26263

Confidence Statement: High confidence; all items verified at primary sources (exchange announcements, regulator portals, protocol blogs, reputable news outlets). One item (Balancer recovery estimate from Berachain) cited from secondary aggregator; all other claims cross-checked. Timestamps converted to UTC where possible; original timezones noted in parentheses. 646566676869707172737475767778798081828384858687888990919293949596979899100101102103104105106107108109110111112

⁂
[^28]: https://www.binance.th/en/faq/new-cryptocurrency-listing delisting/b3dce8b6904a4db78e489a2964e451ed

Generated by

  1. https://www.binance.com/en/square/post/11-11-2025-binance-market-update-crypto-market-trends-november-11-2025-32236665882794 ↩

  2. https://crypto.news/crypto-prices-today-november-11-btc-eth-xrp-sol-2025/ ↩ ↩2

  3. https://coinalyze.net/bitcoin/funding-rate/ ↩

  4. https://www.coindesk.com/daybook-us/2025/11/11/change-of-character-crypto-daybook-americas ↩ ↩2

  5. https://www.bloomberg.com/news/articles/2025-11-11/bitcoin-s-recovery-falters-with-buyer-fatigue-hindering-momentum ↩

  6. https://coinfomania.com/crypto-liquidation-244-million-market-drop-november-2025/ ↩

  7. https://www.crowdfundinsider.com/2025/11/255405-stablecoin-retail-market-cools-but-genuine-payment-flows-surge-analysis/ ↩

  8. https://www.onesafe.io/blog/tether-usdt-minting-bitcoin-liquidity ↩

  9. https://assets.ctfassets.net/m1hizt3hapq0/1NP9WVFAyQOWPG8lj0exyB/02146680fb62ea365fe65546b100c9c1/Daily_Market_Brief_251106.pdf ↩

  10. https://www.dlnews.com/articles/regulation/us-senators-unveil-new-crypto-bill-giving-cftc-oversight-power/ ↩ ↩2

  11. https://www.bloomberg.com/news/articles/2025-11-11/senators-unveil-draft-crypto-bill-giving-cftc-oversight-power ↩

  12. https://www.agriculture.senate.gov/newsroom/rep/press/release/boozman-booker-release-bipartisan-market-structure-discussion-draft ↩ ↩2

  13. https://coinpedia.org/news/us-government-shutdown-live-updates-on-november-11-2025/ ↩

  14. https://gov.uniswap.org/t/unification-proposal/25881 ↩

  15. https://blog.uniswap.org/unification ↩

  16. https://www.coindesk.com/tech/2025/11/10/uniswap-proposes-sweeping-unification-with-uni-burn-and-protocol-fee-overhaul ↩

  17. https://unchainedcrypto.com/uniswap-fee-switch-proposal-sparks-50-uni-rally/ ↩

  18. https://www.binance.com/en/square/profile/foresight_news ↩ ↩2

  19. https://www.panewslab.com/en/articles/4a032f7c-570a-4799-93c9-d7746fc18dc9 ↩ ↩2 ↩3

  20. https://www.coindesk.com/tech/2025/11/10/monad-unveils-tokenomics-ahead-of-nov-24-mon-token-airdrop ↩ ↩2

  21. https://www.monad.xyz/announcements/the-mon-airdrop-results ↩

  22. https://www.halborn.com/blog/post/explained-the-balancer-hack-november-2025 ↩ ↩2

  23. https://www.dlnews.com/articles/defi/balancer-suffers-128m-exploit-despite-multiple-audits/ ↩

  24. https://therecord.media/crypto-heist-balancer-exploit ↩ ↩2

  25. https://assets.ctfassets.net/m1hizt3hapq0/1VsR85wxhIgU4NeBh6ANLR/50b47101825f70f7d6639a8ae1426473/Daily_Market_Brief_251105.pdf ↩

  26. https://www.disruptionbanking.com/2025/11/11/ripple-announces-500-million-strategic-investment-led-by-citadel-securities-and-brevan-howard-valuing-the-company-at-40-billion/ ↩

  27. https://pintu.co.id/en/news/227407-squares-new-breakthrough-a-company-owned-by-the-former-ceo-of-twitter-bitcoin-transactions-are-now-easier ↩

  28. https://www.binance.com/en/support/announcement/detail/94c59a9ac9e34879ab618f8f34f8ba01 ↩

  29. https://www.binance.com/en/support/announcement/detail/15be46d7fb674c50ab80736f322a742d ↩

  30. https://www.binance.com/en/support/announcement/detail/a414fd64592c42d28c881b49ae5b5aca ↩

  31. https://www.binance.com/en/support/announcement/detail/d90465033b634ab7a4fbffd95434c67b ↩

  32. https://announcements.bybit.com/en/article/changes-of-max-order-size-for-usdt-perpetual-contracts-nov-11-2025-blt54e232feb5a3d699/ ↩

  33. https://www.coindesk.com/research/november-2025-exchange-benchmark ↩

  34. https://www.fintechanddigitalassets.com/2025/09/sec-and-cftc-announce-harmonization-initiative-and-new-crypto-developments/ ↩

  35. https://coingeek.com/hong-kong-eases-crypto-laws-allows-exchanges-to-tap-liquidity/ ↩

  36. https://hauzen.hk/hong-kong-sfc-unveils-major-upgrades-for-virtual-asset-trading-platforms-to-allow-global-liquidity-more-products-with-tighter-risk-controls ↩

  37. https://apps.sfc.hk/edistributionWeb/gateway/EN/circular/doc ↩

  38. https://apps.sfc.hk/edistributionWeb/gateway/EN/circular/intermediaries/supervision/doc ↩

  39. https://www.hkma.gov.hk/eng/news-and-media/press-releases/2025/08/20250814-8/ ↩

  40. https://www.blockpass.org/2025/11/01/global-crypto-regulatory-news-1-november-2025/ ↩

  41. https://www.regulationtomorrow.com/italy/mica-under-review-already/ ↩

  42. https://www.tradingview.com/news/coinpedia:f69adf8e2094b:0-brazil-crypto-regulation-tightens-central-bank-to-oversee-all-digital-asset-firms-by-2026/ ↩

  43. https://thecryptobasic.com/2025/11/11/brazil-central-bank-sets-rules-for-crypto-firms-including-100k-limit-on-certain-transactions/ ↩

  44. https://www.coindesk.com/policy/2025/11/11/brazil-s-central-bank-sets-crypto-rules-establishes-up-to-usd7m-capital-bar-for-firms ↩

  45. https://insights.glassnode.com/2025-crypto-market-trends-with-gemini/ ↩

  46. https://insights.glassnode.com/coinbase-glassnode-charting-crypto-q3-2025/ ↩

  47. https://insights.glassnode.com/coinbase-glassnode-charting-crypto-q2-2025/ ↩

  48. https://legal.pwc.de/content/services/global-crypto-regulation-report/pwc-global-crypto-regulation-report-2025.pdf ↩

  49. https://www.infosecurity-magazine.com/news/defi-protocol-balancer-loses-120m/ ↩

  50. https://www.gncrypto.news/news/token-unlocks-november-10-16-2025/ ↩

  51. https://bitpinas.com/cryptocurrency/crypto-token-unlock-list/ ↩

  52. https://www.btcc.com/en-IN/amp/square/LedgerSpectre/1148632 ↩

  53. https://insights.unlocks.app/weekly-unlock-digest-nov-10-16-2025/ ↩

  54. https://www.binance.com/en/ethereum-upgrade ↩

  55. https://www.dlnews.com/articles/defi/what-fusaka-upgrade-means-for-ethereum-410bn-blockchain/ ↩

  56. https://www.coindesk.com/tech/2025/10/30/ethereum-developers-lock-in-fusaka-upgrade-for-dec-3-with-peerdas-rollout ↩

  57. https://blog.ethereum.org/2025/11/06/fusaka-mainnet-announcement ↩

  58. https://coinfomania.com/crypto-etf-flows-reveal-investor-trends-in-november-2025/ ↩

  59. https://themarketperiodical.com/2025/11/10/bitcoin-etfs-see-1-22b-weekly-outflow-3rd-largest-on-record-as-solana-sees-137m-inflow/ ↩

  60. https://www.coindesk.com/markets/2025/11/10/bitcoin-etf-outflows-hit-usd1-2b-even-as-wall-street-deepens-its-crypto-bets ↩

  61. https://farside.co.uk/btc/ ↩

  62. https://www.financemagnates.com/trending/how-low-can-bitcoin-go-this-new-btc-price-prediction-suggests-death-cross-may-push-it-30-down-to-74000/ ↩

  63. https://www.coindesk.com/markets/2025/11/09/crypto-prices-rise-as-trump-announces-at-least-usd2k-tariff-dividend ↩

  64. https://www.binance.com/en/support/announcement ↩

  65. https://www.globalboostmedia.com/news/top-crypto-exchanges-in-november-2025-updated-rankings-whats-new-news_1762513298000 ↩

  66. https://www.esma.europa.eu/esmas-activities/digital-finance-and-innovation/markets-crypto-assets-regulation-mica ↩

  67. https://www.jdsupra.com/legalnews/digital-currency-blockchain-quarterly-4642055/ ↩

  68. https://www.weforum.org/stories/2025/09/us-genius-act-eu-mica-convergence-crypto-rules/ ↩

  69. https://www.instagram.com/p/DQ3reXVkpu-/ ↩

  70. https://blogs.law.ox.ac.uk/oblb/blog-post/2025/11/markets-crypto-assets-regulation-law-and-technology ↩

  71. https://finance.yahoo.com/news/bipartisan-senate-proposal-seeks-extend-050509130.html ↩

  72. https://www.hsfkramer.com/notes/madrid/2025-posts/ebulletin-payment-and-crypto-services-latest-regulatory-developments-november-2025 ↩

  73. https://www.isda.org/2025/10/02/a-path-to-greater-cftc-sec-alignment/ ↩

  74. https://www.nortonrosefulbright.com/en/knowledge/publications/2cec201e/regulating-crypto-assets-in-europe-practical-guide-to-mica ↩

  75. https://insights.glassnode.com/glassnode-coinbase-q1-2025-crypto-markets-guide/ ↩

  76. https://www.youhodler.com/blog/crypto-to-invest-november-2025 ↩

  77. https://www.trmlabs.com/reports-and-whitepapers/global-crypto-policy-review-outlook-2024-25-report ↩

  78. https://metamask.io/price/solana ↩

  79. https://www.mexc.co/en-IN/news/latest-bitcoin-btc-ethereum-eth-and-solana-sol-price-predictions-released-will-the-decline-continue-in-november/157377 ↩

  80. https://www.home.saxo/content/articles/macro/market-quick-take—11-november-2025-11112025 ↩

  81. https://global.morningstar.com/en-nd/markets/bitcoin-retreats-100000-whats-next-crypto-market ↩

  82. https://www.coinbase.com/price/solana ↩

  83. https://www.slickcharts.com/currency ↩

  84. https://www.kucoin.com/news/flash/bitcoin-struggles-to-break-107k-resistance-on-nov-11-2025 ↩

  85. https://www.coingecko.com/en/charts ↩

  86. https://en.macromicro.me/charts/49213/bitcoin-perpetual-futures-funding-rate ↩

  87. https://finance.yahoo.com/quote/SOL-BTC/history/ ↩

  88. https://www.statista.com/statistics/730876/cryptocurrency-maket-value/ ↩

  89. https://www.kaggle.com/datasets/jesusgraterol/bitcoin-funding-rate-binance-futures ↩

  90. https://coinmarketcap.com/historical/20251101/ ↩

  91. https://finance.yahoo.com/news/why-crypto-down-today-november-151103952.html ↩

  92. https://www.weex.com/wiki/article/stable-coin-price-prediction-forecasts-for-november-2025-potential-rally-amid-stablechain-launch-27804 ↩

  93. https://www.binance.com/en/square/post/11-11-2025-cryptocurrency-market-experiences-301-million-liquidation-in-24-hours-32220477824169 ↩

  94. https://cranedata.com/archives/all-articles/11077/ ↩

  95. https://holder.io/news/crypto-liquidations-341m-bitcoin-recovery/ ↩

  96. https://www.ainvest.com/news/bitcoin-news-today-short-sellers-bear-brunt-341m-crypto-liquidations-trigger-volatility-surge-2511/ ↩

  97. https://www.blockhead.co/2025/11/11/crypto-holds-steady-amid-easing-global-risk-policy-tailwinds/ ↩

  98. https://disruptafrica.com/2025/11/10/stablecoins-are-the-multi-trillion-elephant-why-best-could-be-the-best-crypto-to-buy-now/ ↩

  99. https://calebandbrown.com/blog/weekly-rollup-november-11-2025/ ↩

  100. https://finance.yahoo.com/news/bitcoin-spot-etfs-record-third-073735872.html ↩

  101. https://uk.finance.yahoo.com/news/crypto-wallet-exodus-acquiring-grateful-181158917.html ↩

  102. https://metamask.io/price/tether ↩

  103. https://finance.yahoo.com/news/3-altcoins-facing-major-liquidation-140000318.html ↩

  104. https://www.okx.com/en-ae/learn/bitcoin-ethereum-options-expiry-impact ↩

  105. https://en.bitcoinsistemi.com/coinbase-releases-mysterious-message-announcement-coming-on-november-10-heres-what-we-think-it-could-be/ ↩

  106. https://www.okx.com/learn/top-crypto-options-platforms ↩

  107. https://www.financemagnates.com/cryptocurrency/krakens-q3-revenue-doubles-yoy-tokenised-stock-volume-hits-5-billion/ ↩

  108. https://thepaypers.com/mergers-aquisitions-and-investments/news/coinbase-acquires-deribit-to-diversify-its-range-of-services ↩

  109. https://www.binance.com/en/support/announcement/list/48 ↩

  110. https://www.reuters.com/business/coinbase-holds-edge-us-crypto-race-even-rivals-public-listings-reshape-landscape-2025-10-31/ ↩

  111. https://thepaypers.com/crypto-web3-and-cbdc/news/kraken-raises-usd-500-million-ahead-of-a-potential-ipo ↩

  112. https://www.okx.com/learn/shorting-btc-eth-strategies-risks-insights ↩