market commentary:
Bitcoin (BTC) briefly surged past $97,000, nearly reaching the highly anticipated $100,000 mark. However, the price corrected sharply, pulling back by 5.7% to settle at $92,880. Ethereum (ETH) also saw a dip, losing 4.1%, closing at $3,334. Crypto markets have been highly volatile, quite unexpected on multiple occasions too, like the drop in BTC prices right after MSTR’s additional purchase of $5Bn BTC.
DeFi developments:
The DeFi space witnessed notable positive momentum this week, with Total Value Locked (TVL) reaching $118.4 billion as of November 25th—its highest level since 2021.. A major highlight includes the upcoming Bitcoin staking launch on Sui’s Babylon Layer 2 solution, which will offer Bitcoin holders new ways to earn rewards on their BTC. Meanwhile, the Decentralized AI Society is pushing for decentralized AI models to foster greater transparency in the blockchain ecosystem. On the downside, Wrapped Bitcoin (WBTC) experienced a flash crash on Binance, plummeting from over $100,000 to just $5,209 due to a technical issue.
alpha un# blogs:
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disclaimer:
this newsletter is for informational purposes only and should not be considered financial or investment advice. The information provided does not constitute a recommendation to buy, sell, or hold any digital asset or engage in any specific DeFi strategy. always conduct your own research and consult with a qualified financial advisor before making any investment decisions. know more
