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According to PANews, several cryptocurrencies have experienced notable gains in the market. ALGO is currently priced at $0.345, marking a 19.43% increase within the day. SAND follows with a price of $0.684, reflecting a 17.62% rise. MANA is trading at $0.648, showing an 11.70% increase, while GALA is at $0.0394, up by 9.45%. THETA is priced at $2.149, with a 9.17% gain. In contrast, some tokens have seen a decline. TON is currently valued at $6.371, experiencing a 1.45% decrease. OM is trading at $3.562, with a slight drop of 0.09%. These fluctuations highlight the dynamic nature of the cryptocurrency market, where prices can vary significantly within short periods.

According to CoinMarketCap data, the global crypto market cap is $3.3T, a 1.88% increase over the last dayBitcoin (BTC) traded between $92,848 and $97,208 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $95,312, up by 1.46%.Most major cryptocurrencies by market cap are trading mixed. Market outperformers include THE, ENS, and AMP, up by 2150%, 45%, and 33%, respectively.Top stories of the day:Binance TH Achieves ISO 27001 and ISO 27701 Certifications, Strengthening Trust in Thailand’s Digital Asset MarketSOS Ltd Joins Bitcoin Frenzy With $50M Purchase, Shares Surge 40%24 Exchange Receives SEC Approval for Extended Trading HoursBitwise Files for 10 Crypto Index Fund ETF with the SEC Ripple Invests in Bitwise's Rebranded XRP ETP for European Market ExpansionBitcoin (BTC) Bull Market Set to Continue, Galaxy Research Says U.S. Dollar Weakness and Growing Money Supply Set Stage for Bitcoin’s 2025 Rally MIAX Exchange Joins Nasdaq and NYSE in Listing Bitcoin ETF Options Ethereum's Secondary Bull Market Begins, Analyst SuggestsU.S. Q3 GDP Holds Steady at 2.8%, Core PCE Revised to 2.1%, Jobless Claims Beat ExpectationsMarket movers:ETH: $3622.35 (+6.05%)SOL: $238.12 (+2.22%)BNB: $653.95 (+5.69%)XRP: $1.4618 (+2.47%)DOGE: $0.4052 (+3.62%)ADA: $0.9942 (+1.96%)AVAX: $42.52 (-1.80%)TRX: $0.2006 (+0.85%)TON: $6.307 (+0.72%)SHIB: $0.00002546 (+3.33%)

Bitcoin (BTC) hit $97K before retreating to $95.5K, while ETH surged 7% and XRP gained 6%. Market optimism grows as Scott Bessent is nominated as U.S. Treasury Secretary.Bitcoin Hits $97K Before Thanksgiving DipBitcoin (BTC) briefly surged past $97,000 in early Thursday trading before retracing to around $95,500, marking a 3.3% gain in the past 24 hours. The price jump fueled speculation of an imminent $100,000 breakout, although some traders warned of potential volatility during the Thanksgiving holiday, a period historically marked by sudden market movements.Ethereum Outperforms Amid Rising On-Chain ActivityETH Leads Market Gains (H3)Ethereum (ETH) surged 7%, outperforming Bitcoin (BTC) and other major tokens.XRP and BNB gained 6%, while Dogecoin (DOGE) added over 5%.On-Chain Indicators Support ETH RallyCoinDesk data highlights rising on-chain activity for Ethereum, including:Increased revenue and fees.Growth in new wallet creations and transaction volumes.Record open interest in ETH futures, with 6.32 million ETH contracts worth over $27 billion.This surge reflects traders' bullish outlook for ETH as activity remains elevated compared to earlier in the year.DeFi and Memecoins See Significant GainsDeFi Tokens SoarAAVE and UNI surged 9%, reflecting optimism in decentralized finance.Memecoins like PEPE and MOG rose more than 8%, often acting as leveraged "ether beta bets."ETH/BTC Pair Rises SharplyQCP Capital reported a 13% rise in the ETH/BTC pair to 0.0366, signaling a shift in money flows toward Ethereum. This move has also outpaced the broader CoinDesk 20 Index, which recorded a modest 0.5% gain.Scott Bessent’s Nomination Boosts Market OptimismWall Street and Risk Assets RallyMarkets reacted positively to the nomination of Scott Bessent as U.S. Treasury Secretary by President-elect Donald Trump.Bessent’s market-friendly stance and potential moderation of tariff policies lifted sentiment across risky asset classes, including cryptocurrencies.Wall Street reached record highs, further fueling bullish momentum.Bessent’s Crypto OutlookIn a July interview, Bessent described crypto as “about freedom” and emphasized its appeal among younger investors. His nomination adds to the optimism surrounding a pro-crypto administration in the U.S.Thanksgiving Brings Market Volatility and OptimismBitcoin’s (BTC) brief surge past $97K and Ethereum’s standout performance highlight the growing momentum in the crypto market. With Thanksgiving historically a volatile period and optimism fueled by Scott Bessent’s nomination, traders are eyeing potential near-term gains while preparing for possible corrections, according to CoinDesk.

Bitwise Asset Management files for its 10 Crypto Index Fund ETF, offering diversified exposure to major cryptocurrencies, including Bitcoin and Ether.Bitwise 10 Crypto Index Fund ETF Application Submitted to SECDigital asset manager Bitwise has filed an application with the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) based on its existing 10 Crypto Index Fund (BITW).The proposed ETF, filed on Nov. 27, aims to provide investors with indirect exposure to a diversified portfolio of cryptocurrencies, with the New York Stock Exchange (NYSE) Arca filing to list the ETF on Nov. 15.Portfolio Composition and Custodial Details Fund Allocation (H3)The Bitwise 10 Crypto Index Fund ETF allocates its assets primarily to Bitcoin and Ether but includes a range of other major cryptocurrencies:Bitcoin (BTC): 75.14%Ether (ETH): 16.42%Additional holdings: Solana (SOL), Ripple (XRP), Avalanche (AVAX), Chainlink (LINK), Cardano (ADA), Bitcoin Cash (BCH), Uniswap (UNI), and Polkadot (DOT).Custody and Management Crypto Custody: Managed by Coinbase Custody.Cash Holdings and Administration: Handled by Bank of New York Mellon, serving as the custodian, administrator, and transfer agent.Fund Size and ObjectiveThe fund holds $1.4 billion in assets under management (AUM), with a strict focus on the portfolio assets and cash.Objective: Indirect exposure to cryptocurrencies without direct ownership by the Trust.Regulatory and Market ContextSEC Review TimelineThe SEC has yet to set a deadline to approve or reject the application but has formally acknowledged its submission.Bitwise’s Market MovesBitwise has been expanding its offerings:Nov. 27: Rebranded its European XRP ETF as the Bitwise Physical XRP ETP.Nov. 26: Filed for a direct spot Bitcoin and Ether ETF.Nov. 20: Registered a statutory trust in Delaware for a spot Solana ETF.Pro-Crypto Regulatory LandscapeThe recent U.S. presidential election and pro-crypto Congressional wins have fostered optimism about a more favorable regulatory environment, potentially increasing the likelihood of ETF approvals.Significance of the Bitwise 10 Crypto Index Fund ETFThe ETF offers investors exposure to a diversified basket of leading cryptocurrencies, appealing to those seeking to hedge against volatility while benefiting from broader crypto market trends. Bitwise’s expertise and partnerships with established institutions like Coinbase Custody and Bank of New York Mellon enhance investor confidence.A Step Toward Diversified Crypto ETFsBitwise’s filing for its 10 Crypto Index Fund ETF signals continued innovation in the digital asset space. If approved, the ETF could provide a gateway for institutional and retail investors to access a diversified crypto portfolio under a regulated framework, solidifying Bitwise's position as a leader in crypto asset management, according to Cointelegraph.

According to BlockBeats, as of November 28, data from L2BEAT indicates that the Total Value Locked (TVL) on the Base Network has surged to $11.47 billion. This marks a 12.6% increase over the past seven days, setting a new historical record for the network. 

According to Foresight News, data from Coinglass reveals that the cryptocurrency market witnessed substantial liquidations over the past 24 hours, amounting to $281 million. This includes $104 million in long positions and $177 million in short positions.Bitcoin and Ethereum were among the most affected cryptocurrencies, with Bitcoin experiencing liquidations totaling $77.46 million and Ethereum facing $57.77 million in liquidations. These figures highlight the volatility and risk associated with trading in the cryptocurrency market, as traders navigate the fluctuations in asset prices.

According to Foresight News, data from Alternative.me indicates that the cryptocurrency Fear and Greed Index has risen to 77 today, up from 75 yesterday. This increase signifies that the market is currently in 'extreme greed.' 

According to Foresight News, a report from the Financial Times reveals that Hong Kong is considering a proposal to exempt private equity funds, hedge funds, and investment vehicles for ultra-wealthy individuals from paying taxes on gains derived from cryptocurrency, private credit investments, and other assets. This initiative is part of Hong Kong's strategy to establish itself as a leading offshore financial center.

According to PANews, Russia's upper house of parliament has approved a government-initiated bill outlining a tax framework for digital currencies. This development follows the bill's initial approval in the State Duma, the lower house, and its final passage in a plenary session on Wednesday. The new law classifies digital currencies, including those used as payment tools under experimental legal frameworks, as property under the Russian Federation Tax Code. This classification exempts digital currency mining and sales transactions from value-added tax (VAT), easing the financial burden on participants in this sector. Additionally, services provided by authorized organizations facilitating transactions under these experimental frameworks will also be exempt from VAT.A significant provision of the law requires mining infrastructure operators to report personal data of individuals using their systems to tax authorities. Income from digital currency mining will be considered taxable income, forming the basis for personal income tax. According to Danil Volkov, a relevant department head at the Russian Ministry of Finance, businesses engaged in mining activities will be taxed at the standard corporate income tax rate. The law stipulates that mining income will be taxed based on the asset value on international exchanges. For most digital currency earners, the personal income tax rate will remain at 13%, with an increase to 15% for annual incomes exceeding 2.4 million rubles starting in 2025.During the legislative process, the bill underwent multiple readings in the State Duma, required approval from the Federation Council, and awaits the president's signature to become law. With anticipated support from President Putin, this legislation is set to formally establish a detailed tax framework for digital currencies in Russia.

According to PANews, Sriram Krishnan, a general partner at a16z, has announced his decision to leave the company at the end of the year. Krishnan shared this news on the X platform, stating that after four years with a16z, he plans to depart and will provide more details about his future plans in the coming months.In addition, The Information has reported that Krishnan has been in discussions with Elon Musk regarding a potential role in the government efficiency department led by Musk. Further details about these discussions and Krishnan's future endeavors are expected to be revealed soon.

According to Odaily, lawyer John Deaton, known for his support of XRP, has expressed his backing for Paul Atkins as the next chairman of the U.S. Securities and Exchange Commission (SEC). Deaton has urged the SEC to implement changes, criticizing the agency's current approach under Gary Gensler's leadership. He argues that the SEC has imposed oppressive measures on the cryptocurrency industry and startups, offering little guidance to companies operating in this sector. This lack of direction, Deaton claims, has stifled innovation within the industry.As part of his reform suggestions, Deaton endorses Paul Atkins, a former SEC commissioner recognized for his supportive stance on digital assets. Deaton is confident that if Atkins is appointed, he will guide the SEC towards a more balanced and transparent regulatory framework. Earlier today, sources revealed that U.S. President-elect Trump's transition team has interviewed Paul Atkins, a seasoned financial regulator and influential figure in conservative financial circles, as a candidate for the SEC chairmanship. Insiders indicate that Atkins is the leading contender to succeed the outgoing Gary Gensler. They also mentioned that Trump is expected to make a decision in the coming days, although no final decision has been made yet.

According to Odaily, 24 Exchange, a startup backed by Point72 Ventures, has received approval from the U.S. Securities and Exchange Commission (SEC) to operate the 24X National Exchange. This makes it the first national securities exchange in the United States to allow trading for 23 hours a day from Monday to Friday. The launch of 24X will occur in two phases, with the initial phase set to begin in the second half of 2025. During this phase, trading hours will be from 4 a.m. to 7 p.m. Eastern Time.Once the public data feed for broadcasting U.S. stock prices is upgraded to support continuous operation, 24X will be permitted to extend its trading hours to include nighttime sessions. These sessions will run from 8 p.m. on Sunday to 7 p.m. on Friday, with a one-hour pause from 7 p.m. to 8 p.m. to accommodate routine software upgrades and functionality tests. Dmitri Galinov, CEO and founder of 24X, stated, "Traders face the greatest risk when markets in their regions are closed. We aim to mitigate this issue by facilitating around-the-clock trading."

Cardano's ADA surges over 10% in 24 hours, driven by increased network activity, DeFi expansion, and bullish momentum. Discover key factors behind ADA's rise.Cardano Gains Momentum as ADA Targets $1.20Cardano (ADA) is on a bullish trajectory, rising over 10% in the past 24 hours to trade at $1.15, a multi-year high. This follows a 250% rally month-to-date, positioning ADA as a standout performer in November.Several factors are fueling ADA’s price gains, including increased network activity, technological advancements, and broader crypto market bullishness.Key Drivers Behind ADA's Rally1. Launch of Zero-Knowledge (ZK) Smart Contracts Cardano achieved a significant milestone with the successful deployment of zero-knowledge (ZK) smart contracts on its mainnet. Using Halo 2 zk-SNARK technology, this development promises enhanced scalability and security for the blockchain.The feature allows complex transactions to be simplified into smaller, verifiable components, marking a breakthrough for Cardano's DeFi ecosystem.2. Rising Total Value Locked (TVL)TVL Growth: Cardano’s TVL surged 200% in November, reaching a record high of $598 million, according to DeFiLlama.Leading Protocols: Projects like Indigo (TVL +154%) and Minswap (TVL +113%) are driving increased user activity and demand for ADA tokens.3. Network Activity and Bullish MomentumThe ADA/BTC ratio hit a nine-month high on Nov. 23, climbing 148% from its 2022 low. This reflects Cardano’s relative strength against Bitcoin, supported by heightened user engagement and robust market sentiment.Technical Indicators Favor Continued Gains Ascending Parallel ChannelADA is trading within an ascending parallel channel, maintaining higher highs and higher lows. The pattern’s support at $0.96 and resistance at $1.20 suggests further upside potential.Bullish CrossOn Nov. 24, a bullish crossover of the 100-day SMA above the 200-day SMA provided strong upward momentum, pushing ADA toward its current levels. This signal remains intact, reinforcing ADA’s bullish outlook.Future Price Targets If bulls maintain ADA’s position within the channel:Immediate Target: $1.078 (middle boundary).Next Target: $1.20 (upper boundary).Cardano’s Uptrend Remains Strong ADA’s price gains are underpinned by technological advancements, increased network activity, and a favorable technical setup. With bullish momentum intact, Cardano appears well-positioned to challenge higher price levels in the coming days.

November marked a milestone for stablecoins, with trading volume on centralized exchanges rising by 77.5% to $1.81 trillion, according to a CCData report on Nov. 27. This surge, fueled by growing institutional confidence, positions stablecoins for a yearly high in trading volumes as market activity intensifies.Market Capitalization Reaches Record HighsStablecoin Market OverviewTotal Market Cap: $190 billion, up 9.94%, exceeding the April 2022 high of $188 billion.Market Dominance: Dropped to 5.54% from 7.22% in October as traders diversified into Bitcoin and altcoins.Top PerformersTether (USDT): Market cap grew 10.5% to $133 billion, retaining 69.9% dominance.USD Coin (USDC): Market cap rose 12.1% to $38.9 billion, its highest level since February 2023.Ethena Labs’ USDe: Recorded a 42.2% growth to $3.86 billion, driven by heightened interest in Ethena’s ecosystem.Winners and Losers in the Stablecoin MarketRising StarsUSDe: Surged due to Ethena’s proposal to activate revenue sharing for tokenholders, offering a competitive 21.2% APY.Declining StablecoinsFirst Digital USD (FDUSD): Market cap dropped 14.9% to $1.90 billion.Sky Dollar (USDS): Formerly Dai, fell 8.34% to $950 million.What’s Driving the Stablecoin Surge?The stablecoin market’s growth is tied to several factors:Institutional Confidence: Increased adoption in the digital assets sector.Diversified Strategies: Traders seek stable returns through high-APY offerings like USDe.Market Resilience: Despite broader crypto market volatility, stablecoins provide a hedge and liquidity source.Outlook for StablecoinsStablecoins are set to remain a cornerstone of the crypto market as institutional participation grows and ecosystems like Ethena expand their offerings. However, declining market dominance suggests a shift toward diversification in digital asset portfolios, according to Cointelegraph.

Stablecoins are increasingly recognized for their potential to revolutionize global commerce. However, they currently represent just 0.2% of e-commerce transactions, according to a report published by Quinlan & Associates and IDA on Nov. 27. The study highlights the scarcity of non-USD stablecoins as a significant obstacle to broader adoption.Stablecoins’ Untapped PotentialCurrent UsageCryptocurrencies, including stablecoins, contribute a mere 0.2% to global e-commerce transaction value.Stablecoins like Tether (USDt) and USD Coin (USDC) dominate the $200 billion market cap but are overwhelmingly pegged to the U.S. dollar.Barriers to AdoptionRegulatory Uncertainty: Over 81% of merchants cite unclear regulations as a barrier to accepting stablecoins for payments.Lack of Non-USD Options: With 83% of countries not using USD as their primary or secondary currency, there’s a growing demand for stablecoins pegged to other currencies.The Case for Non-USD StablecoinsMarket GapApproximately 40% of global payments are conducted in non-USD currencies, highlighting the need for alternative stablecoins.IDA plans to launch a stablecoin pegged to the Hong Kong dollar to facilitate cross-border payments between Hong Kong and global markets.Benefits of StablecoinsAccording to IDA co-founder Lawrence Chu, stablecoins offer:Cost efficiency and 24/7 availability.Enhanced transparency and programmability over traditional financial systems.Growing Demand and Regulation (H2)Impact on US Treasury BondsThe U.S. Treasury Department reports that stablecoins backed by Treasury bills have modestly increased demand for short-term government securities.Legislative OutlookFormer Senator Pat Toomey suggests that stablecoin regulations could advance by 2025, focusing on reserve requirements and jurisdictional clarity.Key legislation includes Senator Bill Hagerty’s Clarity for Payment Stablecoins Act, which aims to address regulatory challenges.Conclusion: Unlocking Stablecoin Potential with Non-USD OptionsThe report underscores the untapped potential of stablecoins in global commerce, emphasizing the need for diversification beyond USD-backed options. As regulatory clarity improves and alternative stablecoins emerge, the adoption of digital assets in mainstream payments may accelerate, reshaping the global financial landscape.

According to U.Today, Cardano (ADA) has regained the significant psychological level of $1 during today's trading session in the cryptocurrency market. Since the beginning of the month, ADA's price has surged by 193%, tripling its value from early November. Cardano remains a popular cryptocurrency, ranking ninth among the largest by market capitalization, with a daily trading volume exceeding $2.5 billion, as reported by CoinMarketCap.This recent price movement has sparked curiosity among market participants about the future trajectory of ADA. Despite the inherent unpredictability of the crypto market, certain indicators, such as the Fibonacci sequence, can offer insights into potential price directions. Analysts utilizing the Fibonacci indicator suggest that if Cardano continues its upward momentum, the next significant target could be $2.453, aligning with the 1.618 Fibonacci level. Should this level be surpassed, the subsequent target would be the 2.618 Fibonacci level at $8.30. These levels are crucial as they often align with zones of heightened buying or selling activity, influencing price trends.While these projections remain speculative, the recent reclaiming of the $1 mark indicates renewed interest and optimism in Cardano. If favorable conditions persist, further gains could be anticipated.

According to Cointelegraph, institutions are showing reluctance in adopting Web3 technologies due to the transparency inherent in public, permissionless blockchains. Avidan Abitbol, the project director for the Data Ownership Protocol (DOP) privacy solution, highlighted that zero-knowledge technology offers a solution through selective disclosure. Abitbol explained that transparency poses risks such as theft, increased targeting by scammers, and disadvantages during business negotiations. He noted that institutions prefer to keep details like payments, workflows, and financial balances private, as these are crucial to their operations and strategies.The transparency of blockchain can also lead to market risks, as traders might use the transaction data of large institutions to influence asset prices. This issue of transparency hindering institutional adoption is not new. In September 2024, Paul Brody, the global blockchain leader at EY, emphasized the need for privacy to protect institutional operations. Brody pointed out that the lack of privacy on blockchains affects not only corporate finance but also sectors like healthcare, where confidentiality is critical.In response to these concerns, Chainlink introduced private transaction features for institutions in October 2024. This suite includes the Blockchain Privacy Manager and the CCIP Private Transactions encryption tool. The Australia and New Zealand Banking Group (ANZ Bank) was among the first to test these privacy features for settling tokenized asset transactions. Furthermore, blockchain transparency exacerbates issues related to maximal extractable value (MEV), where miners or validators manipulate transaction orders within a block for economic gain. This manipulation involves reordering transactions to maximize fees and front-run other market participants through arbitrage strategies. Data obfuscation and privacy-enhancing solutions are seen as potential mitigators of these challenges.

According to Odaily, the Trump transition team has issued a statement revealing that several of President Trump's cabinet nominees and government appointees have been targeted with violent threats and intimidation against them and their families. These attacks reportedly include bomb threats and phishing law enforcement attempts. In response, law enforcement agencies and other authorities have acted swiftly to ensure the safety of those targeted. President Trump and the entire transition team have expressed their gratitude for the prompt actions taken.The statement emphasized that President Trump and the transition team remain focused on uniting the nation by ensuring a safe and prosperous future. They asserted that, following President Trump's example, dangerous intimidation and acts of violence will not deter their efforts.

According to Binance Market Data, Bitcoin (BTC) crossed the 96,000 USDT benchmark and is now trading at 96,111.257813 USDT, with a 1.93% increase in 24 hours.

According to Odaily, U.S. President-elect Donald Trump announced on November 23 the nomination of Brooke Rollins as Secretary of Agriculture. With this appointment, all cabinet positions in Trump's new administration have been finalized. In recent weeks, Trump has also nominated several high-ranking officials. The new government lineup includes well-known figures in the cryptocurrency market, such as Elon Musk and Howard Lutnick. Additionally, many cabinet members are strong supporters of cryptocurrency and have publicly disclosed their crypto holdings. This group includes the nominated Vice President, Secretary of the Treasury, Secretary of Commerce, Secretary of Health and Human Services, and Director of National Intelligence.The inclusion of these pro-crypto figures in the cabinet suggests a potential shift in the U.S. government's approach to cryptocurrency regulation and policy. The administration's stance could influence the broader acceptance and integration of digital currencies in the financial system. Observers are keenly watching how these appointments will impact the regulatory landscape and the future of cryptocurrency in the United States. The presence of individuals with vested interests in the crypto market may lead to more favorable policies for the industry, potentially fostering innovation and growth.As the new administration prepares to take office, the focus will be on how these appointments translate into actionable policies. The crypto community is particularly interested in the potential for regulatory clarity and support for blockchain technology. The nominated officials' previous statements and actions will be scrutinized for indications of their future policy directions. The coming months will be critical in determining the trajectory of cryptocurrency regulation under Trump's leadership.