Weekly Recap | Crypto Market Sees Major Monthly Pullback, Echobit Launches Thanksgiving Events, and
2025.12.01
Weekly Review (Nov 24 – Nov 30)
In November, the crypto market saw a significant decline in overall trading volume. Bitcoin dropped nearly 18% for the month, while Ethereum fell more than 22%, marking their weakest monthly performance since 2018. The previous U.S. government shutdown led to missing macroeconomic data, and combined with sharp market corrections and continued capital outflows, macro uncertainty accumulated throughout the month, driving persistent volatility and a broad downtrend.
Toward the end of the month, macro pressures triggered another market-wide sell-off, pushing sentiment back into fear territory. However, a report from CryptoQuant noted that the total supply of ERC20 stablecoins has surpassed USD 160 billion, which could become an important driver of the next phase of market movement.
This recap highlights the key developments in the crypto industry over the past week and provides a preview of major trends and events to watch in the week ahead.
Market Pulse
Nasdaq-listed company Prenetics increased its Bitcoin holdings to 504 BTC
CoinShares withdrew its plans to launch XRP, SOL, and LTC ETFs in the United States
The UK launched an investigation into the crypto scam platform Basis Markets, involving approximately USD 28 million
Tether halted redemption services for its euro stablecoin EURT
Polymarket received CFTC approval to re-enter the U.S. market
Franklin Templeton’s XRP ETF received listing approval from the NYSE
Funding & M&A
There were 11 funding events last week, totaling more than USD 570 million, primarily across DeFi, AI, and infrastructure:
AI restaking and arbitrage execution protocol Nexton Solutions completed a USD 4 million strategic round led by Danal
Decentralized AI computing network Gonka AI secured a USD 12 million strategic investment from Bitfury
SpaceComputer raised USD 10 million in seed funding to enable secure blockchain computation from space
Paxos acquired DeFi wallet provider Fordefi for over USD 100 million
Exodus will acquire W3C Corp, the parent company of Baanx and Monavate, for USD 175 million
Policy & Compliance
Turkmenistan passed a cryptocurrency regulatory framework to take effect in 2026
The UK will require crypto exchanges to collect and report trading records of UK customers starting in 2026
South Korea’s financial regulator emphasized stricter anti-money laundering measures, expanding travel rule enforcement to transactions below KRW 1 million
Australia advanced legislation to tighten oversight of crypto trading platforms
The South African Reserve Bank classified cryptocurrencies and stablecoins as emerging financial risks
Echobit Highlights
Echobit November Futures Trading Competition
Echobit New Homepage Launch Event
Echobit Find the Missing Number Challenge
Echobit Winter Giveaway Event
Echobit Thanksgiving Celebration
Echobit Black Friday Dart Challenge
Echobit Thanksgiving Carnival Event
Echobit New Page Launch Limited-Time Event
Echobit Thanksgiving Appreciation Rewards
Echobit December Futures Trading Competition
Week Ahead (Dec 1 – Dec 7)
The dYdX community approved a one-month liquidation rebate pilot starting on December 1
CME Group and CF Benchmarks will launch two new Bitcoin volatility indices on December 2
Panduo Ethereum ETF will list on the Hong Kong Stock Exchange on December 3, offering direct ETH exposure
Dubai Blockchain Week 2025 will take place from December 3 to 4
The SEC Investor Advisory Committee will hold an online meeting on December 4 to discuss corporate governance and tokenized equities
The U.S. September PCE data has been rescheduled for release on December 5, while the Q3 GDP preliminary report has been canceled
Echobit will continue to track global crypto developments, monitor market shifts, regulatory trends, and investment opportunities, helping you navigate every market cycle and stay ahead.