This week, the market capitalization fell by -17.96%while the volume and volatility indices increased by +14.98% And +33.33%respectively.
Stablecoin velocity quantifies how often a stablecoin unit is used for transactions during a specific period. The metric is determined by dividing the total stablecoin transfer volume by the total stablecoin supply over the given period.
Circle’s USDC stablecoin demonstrated accelerated speed on Ethereum, significantly outpacing Tether’s USDT, according to data from Cambridge Digital Money Dashboard. The latest figures show USDC’s monthly velocity (30-day window) at 46.8, approximately 3.5 times higher than USDT’s 13.3. Additionally, USDC’s market cap has increased by 72% since January, a rate much higher than USDT’s 32% increase. This strong performance of USDC is likely due to its strong regulatory compliance, including its adherence to frameworks such as the Markets in Crypto-Asset (MiCA) Regulation in Europe, as well as its increasing integration into various payment and blockchain networks.
- Crypto.com And Hollywood.com teamed up to launch a new entertainment-focused prediction marketplaceallowing users to trade event contracts related to movies, shows, awards, etc. The contracts will be offered by Crypto.com | Derivatives North America (CDNA), a CFTC-registered exchange, will provide a secure, federally compliant platform for entertainment enthusiasts to express and exchange their opinions.
- MyPricea growing social gaming platform, in partnership with Crypto.com to launch MyPrize Marketsa unified platform that combines social gaming, prediction markets and live streaming.
- Ethereum Developers officially confirmed that the Fusaka upgrade will be activated on December 3marking the second hard fork of the year. The upgrade introduces PeerDAS, a feature that allows validators to verify only portions of data, reducing bandwidth usage and costs for validators and Layer 2 (L2) networks. This improvement aims to make Ethereum faster and cheaper for users and developers. The upgrade will activate when the blockchain reaches location 13,164,544, scheduled for 9:49 p.m. UTC on December 3.
- FTSE Russell partnered with Chainlink to publish key stock and digital asset indices on-chain. The initiative includes, among others, the Russell 1000, Russell 2000, Russell 3000 and FTSE 100 indices, using Chainlink’s DataLink service.
- Decentralized derivatives exchange dYdX plans to enter the US market by the end of 2025 and introduce spot crypto trading. dYdX President Eddie Zhang cited improving regulatory conditions under the current administration as a key factor in the decision. The exchange also announced an open vote for users affected by a recent outage, offering compensation from its insurance fund.
- ZKsyncan Ethereum L2 scaling solution, proposed changes to the tokenomics of its native token ZKchanging it from a pure governance token to a utility token. The update aims to generate value through on-chain interoperability fees and off-chain enterprise licensing revenue, which will fund staking rewards, ecosystem development, and buyback mechanisms.
- Maple Financea decentralized financial lending protocol on Solana and Ethereum, has decided to end SYRUP token staking rewards and redirect part of the platform’s revenue to a new DAO treasury called the Syrup Strategic Fund (SSF). SSF will hold SIRUP, Bitcoin and stablecoins for initiatives such as token buybacks, ensuring long-term sustainability.
- Bank Indonesia (BI)the Indonesian central bank, plans to issue a “domestic version stablecoin” backed by government bonds (SBN) and built on its digital rupee CBDC. This initiative, announced by BI Governor Perry Warjiyo, aims to integrate blockchain into Indonesia’s monetary system and support the country’s broader digital financial strategy.
- Inter Banka Brazilian digital bank, has succeeded tested a blockchain-based cross-border trade finance system with the Central Bank of Brazil, the Hong Kong Monetary Authority (HKMA) and Chainlink. The pilot used Brazil’s Drex and Hong Kong’s Ensemble blockchain networks to simulate international trade settlements, demonstrating how distributed ledger technology can streamline cross-border transactions.
- AMM Pendulum was mined, resulting in a cryptocurrency worth an estimated $128 million. stolen across multiple blockchains including Ethereum, Arbitrum, and Base. Therefore, emerging blockchain network Berachain has halted operations and is planning an emergency hard fork to resolve the issue. The exploit was attributed to a precision/rounding error in the Balancer V2 code, which allowed attackers to undervalue Balancer Pool Tokens (BPT) and take advantage of the gap.
Would you like to know more? Access exclusive reports by registering as Private memberjoining our Crypto.com Exchange VIP Programor collect a Charged Lions NFT. The latest crypto market information is also available via the dashboard.
Your feedback has always helped us provide insightful crypto market trends. Tell us how we can make this newsletter even better by completing a quick survey below (it will only take less than a minute). THANKS!
Take our survey now
Author
Research and information team
Get the latest market, DeFi and NFT updates delivered to your inbox:
Be the first to know about new information:
Disclaimer
The information contained in this report is provided as general market commentary by Crypto.com and its affiliates and does not constitute financial, investment, legal, tax or other advice. This report is not intended to offer or recommend access to any products and/or services. Although we strive to publish and maintain accurate information, we do not guarantee the accuracy, completeness or usefulness of the information contained in this report, and we do not adopt or endorse, nor are we responsible for the accuracy or reliability of any information submitted by other parties.
This report is not intended for distribution to or use by any person or entity that is a citizen, resident or located in any jurisdiction where such distribution or use would be contrary to applicable law or would subject Crypto.com and/or its affiliates to any registration or licensing requirement.
The brands and logos appearing in this report are registered trademarks of their respective owners.
