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ONDO Comment and Price Analysis - November 20, 2025
ONDO/USDT Technical Analysis Trending Theme With European approval, ONDO will now be able to offer tokenized US stocks and ETFs in over 30 countries. This development demonstrates the project's intention to grow in compliance with regulations not only in the US but also in Europe. It further demonstrates that ONDO is taking significant steps in migrating real-world assets to the blockchain.Whether this positive news will be reflected in pricing will be more clearly understood in technical analysis.Analyzing the chart on the daily time frame, we see that ONDO has touched the lower boundary of the descending channel once again, and the price is currently trying to hold above the $0.5232 support. This area is important because it aligns with both a horizontal support level and the lower trendline of the main descending channel.For this reason, the current setup can be viewed as a high-probability reversal zone.ONDO has been moving downward inside the channel for some time, but each touch of the lower band has produced a similar bounce. The current structure looks very similar. If the price can stay above $0.5232, another upward move inside the channel is likely.The first resistance for a potential rebound is $0.5687. A move above this level would strengthen upward momentum. After that, the next resistance levels are $0.6214 and $0.7097, which also align with the channel’s midline — meaning price may naturally face some difficulty there.If the price falls below $0.5232 and closes under it, the next support appears at $0.5012. A break below this zone would open the way toward the lower end of the channel at $0.4529 – $0.46, which is the strongest support area on the daily chart.SummaryONDO is currently sitting at the lower trendline of the descending channel.$0.5232 is a strong support with a high chance of a reversal.As long as price holds above it, targets are $0.5687 → $0.6214 → $0.7097.Below $0.52, the downside risk increases toward $0.50 and $0.45.These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, traders are responsible for their own actions and risk management. Morover, it is highly recommended to use stop loss (SL) during trades.
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20 Nov 2025
TON Commentary and Price Analysis - November 20, 2025
TON Technical AnalysisAnalyzing the chart on the 4-hour time frame, we see that the coin is trading inside a descending channel, and the price is now very close to the channel’s lower boundary. This level has seen reactions in previous touches, so a similar move can be expected.The price of the coin is now stuck in the $1.72–$1.76 range which acts both as horizontal support and as the intersection point with the channel’s lower trendline. TON is now in a decision area.As long as the channel structure remains intact, a short-term bounce from the lower band is still likely as in previous touches. If TON gets a reaction from this area, the first target becomes $1.815.If this level breaks, the next key zone is the channel’s midline at $2.05 This is currently the most important barrier since it aligns with both horizontal resistance and the channel’s middle band.A breakout above the midline could open the path toward the $2.22–$2.36 region with stronger momentum. If TON breaks below the lower band of the channel and closes under it, the next support levels are:$1.69$1.63$1.44Especially if $1.69 is lost, selling pressure could deepen significantly. Falling Trend Theme These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, traders are responsible for their own actions and risk management. Morover, it is highly recommended to use stop loss (SL) during trades.
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19 Nov 2025
What is Decentraland (MANA)?
Decentraland is one of the first decentralized 3D virtual reality (metaverse) platforms operating on the Ethereum blockchain, where users can acquire digital land, create content, interact with it, and generate revenue. The platform's currency is the ERC-20 token MANA, and users use MANA to conduct all transactions within the platform, such as buying and selling land and purchasing clothing and accessories for avatars. Land in Decentraland is represented by NFTs called LAND and is entirely user-owned; meaning everything you own in the game is registered on the blockchain and can be bought and sold without needing anyone's permission.Decentraland is a virtual world focused on both entertainment and creativity. Launched to the public in 2020, this platform allows users to connect through their browsers, create their own avatars, participate in events, and socialize with the community. By giving users full control over their digital assets, the platform promises a metaverse experience fit for the Web3 era. Let's take a comprehensive look at what Decentraland is, how it came to be, why it's important, and what you can do in it.Decentraland's Definition and OriginsDecentraland is defined as a decentralized virtual world. It runs on the Ethereum blockchain and is a platform where users from around the world can come together to create content, play games, and trade digital assets. The platform's native currency, the MANA token, is the backbone of the Decentraland economy, used to buy and sell digital assets such as land parcels (LAND), wearables, nicknames, and to pay for services. MANA also serves as a governance token, allowing the community to vote on platform-related decisions.The Decentraland project entered development in 2015, and its first whitepaper was written by Yemel Jardi and Manuel Araoz, along with Esteban Ordano and Ariel Meilich. The project's primary motivation was to create a digital world fully owned and controlled by users, an alternative to the restrictions found on traditional centralized gaming platforms. Ordano and Meilich aimed to resolve the concept of ownership in virtual worlds with blockchain, giving users real rights over their content and assets. Thus, a platform was born that combines the allure of virtual universes like Second Life with decentralization. Decentraland was initially prototyped as a 2D pixel world, but its vision was always to establish a metaverse where users could shape their land as they wish, operating without a central authority.In 2017, Decentraland held an initial coin offering (ICO) to accelerate project development and reach a wider audience, raising approximately $26 million in this sale. Later that year, the platform's early beta was announced, and the first digital land sales were conducted. The primary motivation for this development was to enable users to experience a sense of ownership in the digital world and to benefit economically from their content.Decentraland's History: Major MilestonesDecentraland has achieved many significant milestones from its conception to the present day. Here are some key milestones in the platform's history:2015 - Project launch: Development of Decentraland began under the leadership of Ariel Meilich and Esteban Ordano. This year, the idea of a blockchain-based virtual world blossomed, and the project was conceptually realized by the team. In the first prototype, users held rights to simple pixel plots of land recorded on the blockchain, laying the foundation for the concept of decentralized ownership.2017 - ICO and early release: In August 2017, the Decentraland team held an ICO for the MANA token, raising $26 million. During the same period, the first land auction, known as the "Terraform Event," was held, and 90,601 parcels of land were offered for sale on the first map, called Genesis City. During this auction, users acquired digital land by spending approximately 161 million MANA, and all spent MANA was burned due to the platform's deflationary nature. Towards the end of 2017, the beta version of Decentraland was launched, and the first users began testing the virtual world.February 2020 - Public Launch: After several years of development and community engagement, Decentraland was made available to all users in February 2020. Anyone could log in to the platform with an Ethereum-compatible wallet, create their own avatar, and explore the world. With this public launch, platform governance, previously managed by the Decentraland Foundation, began to be gradually transferred to the community. In 2020, the Decentraland DAO (Decentralized Autonomous Organization) was established, establishing a governance system where MANA and LAND holders could vote on critical platform decisions through smart contracts. During the DAO's establishment, 333 million MANA was burned (removed from circulation), creating the DAO treasury. 2021 - Metaverse Explosion and Major Partnerships: 2021 was a turning point for Decentraland, driven by both the popularity of NFTs and the mainstreaming of the metaverse. With Facebook changing its name to Meta, interest in virtual worlds increased, and Decentraland saw significant jumps in user numbers and market capitalization. In April 2021, land prices on the platform reached levels ranging from $6,000 to $100,000; the value of the MANA token also rose to $5.79 during this period following developments like Facebook's move. In November 2021, a virtual real estate company called Metaverse Group demonstrated the potential of the virtual real estate market by purchasing a single parcel of land in Decentraland for a record $2.43 million. That same year, Sotheby's, the world's oldest auction house, established the first metaverse auction house by opening a digital gallery in Decentraland's Voltaire Art District. During this period, major brands such as Samsung, Adidas, Atari, PricewaterhouseCoopers, and Miller Lite began appearing on Decentraland, organizing events and purchasing virtual properties. Also at the end of 2021, the first large-scale music concerts and festivals were held on Decentraland; names like the famous DJ Deadmau5 and singer Grimes brought together thousands of avatars by giving virtual concerts on the platform.March 2022 - Metaverse Fashion Week: In the first months of 2022, Decentraland continued to host major events. In March 2022, the world's first "Metaverse Fashion Week" was held on Decentraland. Fashion giants such as Dolce & Gabbana, Tommy Hilfiger, and Estée Lauder appeared on the platform with virtual fashion shows and events. This event demonstrated that the virtual world could be used not only in gaming and art, but also in commerce and marketing. 2022 also brought with it technical discussions; While reports emerged in October 2022 that Decentraland's daily active user count was very low (some even claimed that only 38 wallets were conducting transactions in a single day), the team clarified that the definition of "active user" only included engaged wallet addresses, indicating that the actual daily visitor count was actually around 8,000.October 2024 - Platform updates: As a constantly evolving platform, Decentraland released a significant update in 2024. The beta version of the desktop client application, called Decentraland 2.0, was launched in October 2024. This client aimed to improve the user experience by introducing new features such as higher performance, additional game missions, and mini-games, as an alternative to the browser-based experience. Simultaneously, protocol updates were made throughout 2023 and 2024 to enhance the platform's technical infrastructure. For example, the Archipelago communication protocol was updated to optimize network interactions by dividing users into "islands" based on their location. As of 2025, Decentraland maintained its leading position in the metaverse and continued its community-driven development through the DAO.November 2025: Although there are no major developments in Decentraland as of 2025, the MANA coin price is around $0.2. Why Decentraland is Important?There are many areas where Decentraland is important in the cryptocurrency world. Below are some examples:Ownership and User ControlThe most important feature that distinguishes Decentraland from similar virtual world platforms is that users have full ownership of their digital assets. In traditional online games, items controlled by the game developer become owned by users as NFTs in Decentraland. If you own land, ownership of that land is registered as yours through Ethereum smart contracts. Similarly, the clothes and accessories your avatar wears, and even the nickname you use, reside as NFTs in your blockchain wallet. This means that no one (not even the platform's founders) can take away or change your digital assets without your permission. User control isn't limited to asset ownership; you also have a say in the platform's future. Decentraland empowers users to shape their own worlds by delegating decision-making to the community through the DAO. This is a practical example of the Web3 philosophy, which prioritizes user rights in the internet age. Web3 and its Role in the Metaverse VisionDecentraland combines the principle of decentralization, a cornerstone of Web3, with the concept of the metaverse, a popular use case. At a time when Facebook (Meta) and other tech giants are investing in the metaverse, community-driven platforms like Decentraland offer a free and democratic virtual universe in contrast to centralized alternatives. This platform is a testbed demonstrating that in the future of the internet, users can not only be content consumers but also content owners and producers. The Web3 vision emphasizes that data and assets should belong to individuals; as a concrete implementation of this vision, Decentraland has created an environment online where you can truly own your digital identity, belongings, and even your land. Furthermore, in a world where online interaction has become increasingly important during and after the pandemic, Decentraland has proven the potential of the metaverse by providing an innovative environment for virtual concerts, exhibitions, and meetings.Open source, DAO structure, and the effect of decentralizationDecentraland's software is open source and open to contributions from community developers. The platform is released under the Apache-2.0 license, meaning the code is transparent and anyone can review and contribute. This open development model increases the platform's reliability and encourages innovation. Furthermore, Decentraland's governance is distributed between the Decentraland Foundation and the DAO: The Foundation plays a role in technical development and infrastructure, while MANA and LAND holders determine platform policies through the DAO. For example, in 2018, a community vote canceled the plan to increase the MANA token with an 8% annual inflation rate, switching to a fixed supply. Furthermore, governance decisions in 2021 ended the practice of burning 2.5% fees on marketplace transactions, and decided to transfer these revenues to the DAO treasury. Such developments demonstrate the reality of Decentraland's decentralized structure and that community decisions can directly shape the platform's economics and rules. In short, Decentraland is a living ecosystem that demonstrates the practical application of the concept of "decentralization" and holds a special place among blockchain-based projects. Decentraland's Uses and Token EconomyDecentraland boasts a rich range of use cases and a unique economic model, adding value to the coin. Below, you can find the platform's primary use cases and the role of the MANA token:What is virtual land?Decentraland's main map, Genesis City, consists of 90,601 LAND parcels.Each parcel is an ERC-721 NFT, approximately 16m x 16m in size, and is located on the map with (x, y) coordinates.The user who acquires LAND has full ownership and control rights over that parcel. How to buy land?An Ethereum wallet (e.g., MetaMask) and sufficient MANA are required.Land is purchased with MANA on the Decentraland Marketplace; a smart contract transfers MANA to the seller and the LAND NFT to the buyer.A small gas fee is also paid on the Ethereum network.LAND can also be traded on secondary NFT markets like OpenSea.What does ownership offer?Using the Builder or SDK, you can build content such as houses, galleries, playgrounds, and stores on your land.You can combine plots to create larger Estates and manage them as a single property.Value, trading, and rental incomeLand value varies depending on location and demand, with central areas generally being more expensive.Plots sold for very low prices in the early years reached tens of thousands of dollars in 2021, as seen in Metaverse Group's $2.43 million purchase.Landowners can sell their parcels at any price they choose or earn passive MANA-based income through a rental system; a portion of transaction fees goes to the DAO.Game and interactive exchangesDecentraland isn't just static structures; it's an interactive world filled with user-developed minigames, puzzles, tracks, and quests. Developers can build adventure games, races, quest systems, and reward-based events on the parcels using the Decentraland SDK. Social gaming spaces like Tominoya Casino, arcade games, and VR escape rooms are popular on the platform. Smart contracts and scripting allow for leaderboards, prize distributions, and competitions for MANA/NFT winnings. Competitions like Game Jam also encourage the community to create new games.Interactive spacesBeyond games, many parcels include interactive exhibitions or experimental spaces. Scenes like giant mazes, color-changing objects, and animated installations can be programmed with the scripting API. This allows users to spend time playing and experiencing, rather than simply browsing. NFT ExhibitionsDecentraland is a global stage for digital art and NFT exhibitions. Users can display their works, such as CryptoPunk or SuperRare, in their own galleries, and virtual museums can be created with presentation tools like 3D sculptures and high-resolution frames. The Museum District is a hub for community galleries. The opening of a gallery in Decentraland by Sotheby's in 2021 generated significant buzz in the art world. The annual Metaverse Art Week keeps the platform's art scene alive with exhibitions, panels, and workshops. NFT collection launches, concert launches, and community events are also common. Artists can mint their works and sell them on the Marketplace, generating revenue. Social spaces and eventsDecentraland is a social universe; concerts, festivals, themed parties, and community gatherings are held regularly. The 2021 Metaverse Music Festival and famous DJ performances brought together thousands of users. The platform features university campuses, developer workshops, crypto community clubs, and conference spaces. Brands also participate in events, such as Samsung's virtual store and the runways of Metaverse Fashion Week. Daily socializing is also common: Genesis Plaza is the first stop for new users, while bars and clubs offer spaces for chatting and socializing. Text and voice chat allow people from all over the world to connect easily.MANA BurnMANA was initially produced with a supply of ~2.8 billion; this supply has diminished significantly over the years thanks to burn mechanisms. Burning is the permanent removal of tokens from circulation by sending them to an inaccessible address. Major burn examples:2017 Land Auctions: 161 million MANA spent in initial sales, followed by 109.5 million MANA burned (totaling ~270 million).2019 DAO launch: 333 million MANA burned for the DAO treasury.Marketplace fees: For a period, 2.5% of all marketplace sales were burned. In 2021, this fee was redirected to the DAO as revenue instead of being burned.Name registration fee: 100 MANA for name registrations was initially burned in full; in 2023, this began to be transferred to the DAO treasury.Wearable sales: Smaller burns were implemented in exceptional periods; these were later converted to DAO revenue. Supply Status: The total MANA supply has dropped significantly after the burns; ~2.19 billion remained in 2020. Since the planned 8% annual inflation rate in 2018 was removed by community decision, MANA has become an inflation-free token. While burns are no longer required, the tokens locked in the DAO reduce circulation, making MANA an increasingly scarce asset.Decentraland's Founders and Developer TeamThe people behind Decentraland are comprised of experienced individuals in the crypto and software worlds. The project's founders are Argentinian entrepreneurs Esteban Ordano and Ariel Meilich. Founded in 2015, Ordano and Meilich combined their blockchain expertise with the idea of virtual reality to create this innovative platform.Ariel Meilich: Served as Decentraland's first project leader (CEO). Meilich has an entrepreneurial background and, after the project matured, left his position to hand over day-to-day management to the community and became an advisor. After Decentraland, Meilich continued his ventures in the gaming and NFT space, launching projects such as Big Time Studios. Meilich, who organized the first blockchain gaming conference "Nifty" in 2018, is also known for his work in building communities in the crypto industry.Esteban Ordano: As Decentraland's technical leader (CTO), he established the platform's technology infrastructure. Even before Decentraland, Ordano was active in the cryptocurrency sector; he worked as a software engineer at BitPay and specialized in decentralized technologies. He also served as an advisor on the Matic Network (Polygon) project, an Ethereum scaling solution. Ordano played a critical role in the development of Decentraland's smart contract infrastructure and led the implementation of an NFT-based land system on Ethereum. As of 2020, Ordano stepped down from his day-to-day duties, remaining as an advisor, leaving project management to the Decentraland Foundation and the DAO. Other team members: Yemel Jardi and Manuel Araoz, who co-wrote Decentraland's whitepaper with Ordano and Meilich, made significant contributions to the project's early development. Manuel Araoz is a well-known figure in the cryptography and blockchain community and was among the developers of early blockchain applications such as "Proof of Existence." These experienced team members were instrumental in shaping Decentraland's vision. Although initially developed by the founding team, Decentraland has now become an open-source project. Development of the platform is carried out by the nonprofit organization Decentraland Foundation and volunteer developers worldwide. The code repository is available on GitHub, and contributions come from the global community. Additionally, community developers are funded through grant programs allocated through the Decentraland DAO to develop new features, games, and tools for the platform. This allows the platform to evolve through the collective efforts of the user community rather than a specific company.Frequently Asked Questions (FAQ)Below are some frequently asked questions and answers about Decentraland:How to join Decentraland: Joining Decentraland is quite easy; simply go to decentraland.org in your browser and click the "Play" or "Get Started" button. The best way is to connect an Ethereum-compatible wallet like MetaMask. After connecting the wallet, you create your avatar and enter an experience where all your earned assets are permanently owned. You can also explore the world without a wallet in guest mode; however, your purchased assets are not protected in this mode, and you won't have access to features like governance. A mid-range PC is recommended because the platform uses 3D graphics; if you want to improve performance, you can also opt for the official desktop client.What is required to buy land in Decentraland?: To own land in Decentraland, you need an Ethereum wallet and a small amount of ETH along with MANA. Land is purchased through the official Marketplace; After connecting your wallet, you can select a land plot you're interested in by viewing the available plots on the map. Upon purchase, the smart contract transfers MANA to the seller, and the LAND NFT is transferred to your wallet. This gives you full ownership of that plot. Buying land isn't mandatory, but it's a necessary step if you want to build your own content or acquire digital real estate for investment purposes.Where to buy MANA: The most practical way to acquire MANA tokens is to buy from popular exchanges like Binance, Coinbase, Kraken, BtcTurk, or Paribu. After depositing funds into your account, you can buy the desired amount by trading the MANA/TRY or MANA/USDT pairs. If you prefer a decentralized method, you can also exchange MANA for ETH on Uniswap. However, gas fees may be higher. Remember that MANA is an ERC-20 token, and you should store the purchased tokens in an Ethereum-compatible wallet such as MetaMask, Trust Wallet, or a hardware wallet. How do developers create content?: Decentraland allows both non-technical users and developers looking to develop advanced projects to create content. Non-coding users can use the Builder tool to design scenes using drag-and-drop, creating small galleries, cafes, or event spaces. For more advanced content, the TypeScript-based Decentraland SDK is used. The SDK gives developers the freedom to add gameplay mechanics, create interactive objects, write custom logic, and develop mini-games. Creators who want to create their own 3D models can import objects they designed in tools like Blender or Maya into the platform. This creation process often creates economic opportunities; minting wearable designs as NFTs and selling them on the Marketplace can be a significant source of income.Which wallets are supported?: Decentraland works with many Ethereum-compatible wallets. The most common method is to install MetaMask as a browser add-on, and users confirm transactions directly through this wallet. Mobile users can connect apps like Trust Wallet, MetaMask Mobile, or Rainbow via WalletConnect. Those seeking greater security can manage their assets by integrating hardware wallets like Ledger or Trezor through MetaMask. It's crucial that the wallet used supports ERC-20 and ERC-721 standards. While guest access is possible, connecting a wallet is essential for a permanent Decentraland experience.Discover the latest metaverse guides, MANA token analyses, and virtual world trends in the JR Kripto Guide series.
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19 Nov 2025
Vitalik Buterin's Quantum Warning: "Prepare Ethereum"
The long-discussed quantum threat on Ethereum is no longer a technical possibility but a timely warning. Ethereum co-founder Vitalik Buterin, appearing on the DevConnect stage, stated that the acceleration of quantum computer research could weaken the existing cryptographic infrastructure and emphasized that the ecosystem must strengthen its defenses "within the next four years."Buterin's message was clear: This isn't an abstract security debate; it's a technical alarm directly concerning Ethereum's future and the integrity of user assets. He even linked the timeline to the 2028 US presidential election, laying out a goal that aligns with global political and technological agendas.Why is current cryptography risky compared to quantum?Ethereum currently uses elliptic curve cryptography for transaction verification, account security, and signature verification. This method is quite secure for classical computers. However, a quantum machine with sufficient scale can use Shor's algorithm to derive a user's private key from their public key. This makes not only wallets but also a wide range of applications, from smart contracts to Layer 2 infrastructure, vulnerable. Buterin stated that the real danger should begin "before quantum supremacy is declared," and that Ethereum should move with a planned transition, not panic. Forcing hasty updates to the protocol could lead to both structural errors and a chain split.How will the transition occur? A clear four-year timeframeButerin stated that Ethereum should complete the transition to quantum-resistant cryptography within a roughly four-year timeframe. This approach provides developers with a reasonable time to test and implement new algorithms and manage the user-side transformation.However, this process doesn't solely fall on the shoulders of core developers. The entire ecosystem, from exchanges and wallet developers to L2 teams and enterprise infrastructure providers, requires coordinated action. Given Ethereum's massive technical and economic network, a cryptography migration of this scale requires significant engineering effort.Where should innovation shift?Buterin stated that frequent changes to the core protocol are risky, and that innovation should now be focused more on Layer 2 platforms, smart wallets, and privacy tools. This approach aligns with Ethereum's long-term strategy of keeping its core more stable while leaving experimental and rapidly developing features to the upper layers.Rollups and other L2 solutions stand out as areas that improve the user experience and provide a suitable environment for testing new cryptographic structures. This allows for the development of nascent technologies without threatening the stability of the underlying protocol.Wallets and privacy tools will be at the forefrontWallets will be the most acutely felt part of the transition. Users will need to migrate to new signature schemes, update their addresses, and perform key rotations. For this transition to be seamless, an interim period where wallets simultaneously support both classical and quantum-resistant algorithms is essential.Similarly, privacy-focused solutions must integrate new cryptographic standards to prepare transaction data and identity information for the post-quantum era.
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19 Nov 2025
Ondo Receives Green Light from Europe: Open to Investors in 30 Countries
Ondo Finance's subsidiary, Ondo Global Markets, has officially opened the door to European regulation. With authorization from the Liechtenstein Financial Markets Authority (FMA), the company will be able to offer tokenized stocks and ETFs to investors throughout the European Economic Area. This step is considered critical because it marks the first time that blockchain-based securities and "on-chain" financial products have been placed under such a comprehensive regulatory framework in Europe.Thanks to Liechtenstein's passporting system, the authorization extends beyond the country; it extends to all EU member states, as well as 30 countries, including Iceland, Norway, and Liechtenstein. This will allow US-listed stocks and ETFs to be offered to over 500 million potential investors in a tokenized and regulated format.The company describes this authorization as "the beginning of a new era where traditional financial markets and blockchain infrastructure meet under the same roof, with regulatory oversight." Ondo Global Markets currently boasts over $315 million in total locked assets and over $1 billion in trading volume. These figures demonstrate the platform's current leadership in tokenized financial products.With this new authorization, Ondo not only expands its existing products, such as tokenized US Treasury bonds, but also contributes to strengthening the legal status of tokenized securities in Europe. CEO Nathan Allman, known for his background at Goldman Sachs, has long led a strategy aimed at bringing traditional financial products to the onchain world. Allman emphasizes that despite the complex regulatory landscape of the European market, with the right infrastructure, onchain securities can be used safely by a broad range of investors.The approval from the Liechtenstein FMA sets a significant precedent for tokenization in Europe's securities markets. While access to US stocks and ETFs, in particular, typically varies depending on national regulations, this step establishes a harmonized framework across the continent. According to experts, this situation could accelerate institutional investors' interest in tokenized assets.What's the latest on the ONDO price?For Ondo's native token, ONDO, the price is currently at $0.53, according to market data. The token's market capitalization has reached $1.7 billion; however, the 42.89% decline in the last 90 days reflects the pressure exerted by general market conditions. Nevertheless, it is believed that the new gateway to Europe could increase confidence in the ONDO ecosystem in the medium term. This broad access brought about by regulation creates a strong foundation for the future of tokenized financial products in Europe. Ondo's move is expected to accelerate the tokenization race by setting an example for other companies.
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19 Nov 2025
Polygon Joins Mastercard's New Crypto System
Mastercard has taken a significant step toward making cryptocurrency transfers more understandable and error-proof for everyone. The company is collaborating with Polygon network and payment infrastructure provider Mercuryo to launch a new system where users can transfer using verified usernames instead of long, complex wallet addresses. Here are the details…Mastercard Selects PolygonMastercard has taken a new step toward simplifying the user experience in the crypto world with a partnership between Polygon and Mercuryo. These three parties have announced a system expansion that allows users to transfer using verified usernames (aliases) instead of long, complex crypto wallet addresses.One of the biggest challenges faced in traditional crypto transfers is the error-prone nature of long wallet addresses, consisting of alphanumeric characters starting with "0x." With Mastercard's new system, users will be able to perform transactions by entering a name or username. Mercuryo will handle the pre-registration and identity verification process; an alias will be assigned to the verified user. This alias will be linked to the user's self-custody wallet. After assigning an alias, users will also be able to request a "soulbound token" (a binding token that doesn't circulate) on the Polygon network. This token will serve as an on-chain indicator that the wallet in question belongs to a verified user. This allows transactions to be made with a verified username, providing a layer of verification above the user's real identity without directly transferring it to the blockchain.Technological Choice: PolygonMastercard considered Polygon Labs' speed, low transaction costs, and payment-focused architecture in its infrastructure selection. The Polygon network was chosen because it offers performance and scalability that can seamlessly handle high-volume payments. This means the system is designed for real-world use.So, why is this development significant? Let's explain it in three points:Users sending crypto to the wrong address is a common risk. Transactions with a simple username instead of long addresses can mitigate this risk.As the trend toward self-custody, where users fully own their own wallets, grows, a lack of verification can create fear. This system both preserves ownership and adds a layer of identity.It creates a user-friendly experience similar to the traditional payment experience for crypto payments and asset transfers, which could accelerate adoption.How does the process work?The user is authenticated through Mercuryo.After verification, the user is granted an alias, which is linked to the user's wallet.The user can optionally acquire a soulbound token on the Polygon network, which proves on-chain that the wallet belongs to a verified user.Crypto transfers can now be made using this username instead of long addresses; the recipient enters the username, and the transaction is processed.At the time of writing, Polygon's POL coin appears unaffected by this development: it has fallen 3 percent in the last 24 hours, trading at $0.14. However, it's worth noting that this decline is driven by a broader cryptocurrency market crash.
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18 Nov 2025
Coinbase Announces Surprise for Two Altcoins: Tradings Will Be Opened Gradually
Coinbase announced that it has completed preparations to launch spot trading support for Superfluid (SUP) and Toncoin (TON). The US-based exchange announced that both altcoins will be listed on the platform by November 18, 2025. The listings will be phased in; order books will only become active when the required liquidity threshold is met.The rapid increase in visibility for SUP, in particular, was notable following the announcement. The project has been frequently discussed in the developer community in recent months due to its structure offering "real-time token flow" through smart contracts. The Superfluid protocol provides an alternative architecture to Web3 payment models, enabling continuous asset transfers on a per-second basis without block times or manual payment triggers. Coinbase's SUP listing directly addresses this growing interest.Volatility warning issuedAccording to information shared by Coinbase Markets, the SUP/USD trading pair can become active at any time during the day, due to internal liquidity checks and market makers ensuring order depth. The exchange stated that not sharing a fixed opening time was chosen to protect the market from manipulative sudden movements and to initiate price discovery more effectively.Users were also warned of potential volatility in the early hours. Coinbase reminded users to use limit orders, open positions gradually, and avoid aggressive market buying, emphasizing that the order book naturally stabilizes over time in new listings.Toncoin, which emerged from the Telegram ecosystem, is following a different listing process due to its larger user base. The opening for the TON-USD pair is expected to occur in the evening hours of November 18, 2025. The Coinbase listing is known to have been long-awaited by the market, as the TON ecosystem has continued to grow in terms of both user activity and on-chain speed over the past two years.TON stands out with its fast block times, low transaction costs, and mobile-focused usage advantages, while its DeFi and mini-app ecosystems continued to expand throughout 2025. The listing is expected to provide TON with greater visibility in the US market. Coinbase stated that both altcoins may not be available in all regions. Due to regulatory restrictions, trading in SUP and TON will be restricted in some countries. Users are urged to check availability in their respective regions before opening a trade.A critical technical caveat has also been issued for SUP: The asset will only be supported on the Base network. Coinbase issued a stern warning that transfers to networks other than the specified smart contract address could result in permanent losses.
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18 Nov 2025
BTC and 3 Altcoins Funds Outflow: Market Pressure Escalates
Global crypto investment products experienced a record capital outflow of $2 billion last week. The latest data from CoinShares indicates the sharpest weekly decline since February. This suggests that both uncertainty about a macro-level interest rate cut and the sell-off by large crypto investors are putting new pressure on the market.CoinShares Research Director James Butterfill states that the reshaping of interest rate cut expectations in recent weeks has disrupted investor behavior. Combined with the accelerated selling by large wallets, the three-week total outflow has reached $3.2 billion. The pullback in digital asset prices has reduced total assets under management from $264 billion in early October to $191 billion.The US is at the center of these outflows. The $1.97 billion outflow alone accounts for 97 percent of global capital losses. This figure demonstrates a significant weakening of risk appetite across a broad spectrum, from institutional investors to individual funds. Switzerland and Hong Kong also contributed to the negative outflows, with outflows of $39.9 million and $12.3 million, respectively.Germany, however, painted a completely different picture. German investors capitalized on the recent declines, generating net inflows of $13.2 million. Butterfill emphasized that Germany's historical tendency to be more "opportunity-focused" during downturns resurfaced this week.The Latest Bitcoin and Altcoin OutlookOutflows were sharp on Bitcoin. Last week, $1.38 billion in investment products were withdrawn from the market. The three-week total loss represents approximately 2 percent of the managed assets of Bitcoin ETPs. The outflow for Ethereum is proportionally weaker. The weekly outflow of $689 million corresponds to 4 percent of the AuM in Ethereum products. Solana saw outflows of $8.3 million and XRP of $15.5 million. These figures reflect continued risk aversion across a broad segment of the market. However, the picture is not entirely one-sided. In the last three weeks, $69 million inflows were generated into multi-asset investment products. Investors' tendency to diversify during volatile periods is strengthening. The increased demand for short-bitcoin products is also noteworthy; net inflows over the three weeks reached $18.1 million. This movement suggests investors are taking more aggressive hedging positions against downside risk.Following the US government reopening, there were expectations of a short-term market relief. However, these hopes quickly dissipated. The Bitcoin price fell to six-month lows, testing the $95,000 level. The delay in the influx of fresh liquidity on the macro side and the selling pressure in the cryptocurrency are delaying the market recovery for now.
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17 Nov 2025
What is Sky (SKY)?
SKY is the next-generation version and brand name of MakerDAO, a leading project in the world of decentralized finance (DeFi). SKY can be thought of as the second season of MakerDAO, one of the first major experiments in decentralized finance. The infrastructure, community, and risk management experience MakerDAO has accumulated over the years is being reshaped under the name Sky, a transformation plan called Endgame, highlighting a simpler interface (Sky.money), a more complete ecosystem, and a design suited for growth. In this new structure, the legacy stablecoin DAI is giving way to USDS, while the governance token MKR is being replaced by the SKY token, making the system both technically revamped and more accessible to the wider public. Now, let's examine what exactly SKY offers and where USDS and the SKY token fit into this narrative.SKY's Definition and OriginsSKY stands out as a protocol that picks up where MakerDAO left off, making decentralized lending and stablecoin infrastructure more modern and accessible. The idea of a collateralized, smart-contract-powered stablecoin, introduced years ago by MakerDAO, is being reimagined under the SKY umbrella with new tokens and more user-friendly tools. MakerDAO founder Rune Christensen is driving this transformation, and the Endgame strategy, designed to accelerate the platform's growth and transition to a more resilient structure, is driving this change.The SKY project's emergence is shaped by the Endgame Plan, adopted by the MakerDAO community in 2022. The goal is to both technically simplify the system and establish a more robust model for long-term growth. In August 2024, MakerDAO officially transitions to the SKY brand and introduces the ecosystem's new tokens, SKY and USDS. During this process, DAI holders are given the opportunity to switch to USDS at a 1:1 ratio. MKR holders are given the option to receive 24,000 SKY for every 1 MKR they purchase. Switching is not mandatory, but users entering the new ecosystem gain access to additional benefits like Sky Savings Rate (SSR) and Sky Token Rewards (STR).At the heart of SKY is the goal of making MakerDAO's long-standing decentralized stablecoin model more accessible. Through the Sky.money interface, users connect to the ecosystem without the need for any intermediaries, creating their own stablecoins, participating in savings modules, and voting in governance processes. All of this maintains the decentralized nature inherent in MakerDAO's DNA while making DeFi more accessible and accessible to a wider audience.SKY's History: Key MilestonesFrom the first steps taken in 2015 to the whitepaper published in 2017, from the Multi-Collateral DAI update in 2019 to the major rebranding in 2024, each phase has led to Sky's current form. Let's take a step-by-step look at this journey.2015: Project Inception: SKY's roots lie in 2015, when Rune Christensen proposed the idea of MakerDAO. The idea of creating a collateralized stablecoin running on Ethereum was first shared with the community; the MKR token was launched that same year. This first step laid the foundation for a fully user-managed DAO structure and paved the way for a growing ecosystem.2017: Whitepaper and First Stablecoin: In December 2017, MakerDAO's first official whitepaper was published, and the Single-Collateral Dai (SCD) system was introduced. In this system, only ETH is accepted as collateral, and the first DAI is generated in return. DAI's transparent and decentralized operation, entirely through smart contracts, represents a major innovation for the crypto ecosystem of the time and opens a new chapter in the stablecoin field.2019: Multi-Collateral DAI and DSR: In November 2019, the system received a significant update: Multi-Collateral Dai (MCD). Now, not only ETH but also many ERC-20 assets, especially BAT, are accepted as collateral. This expansion increases DAI's usability and diversifies risk. The same update introduces a savings mode called the Dai Savings Rate (DSR); users can earn the interest offered by the protocol by holding DAI. This makes DAI not just a stablecoin but also a savings tool.2024: USDS Launch and Transition to Sky: The Endgame plan, which the MakerDAO community began working on years ago, is undergoing a major transformation in 2024. On August 27, 2024, the MakerDAO brand officially transitions to Sky, revamping the protocol's identity, interface, and token economy. During this process, the new USDS stablecoin is introduced alongside DAI, and the SKY token is introduced instead of MKR. Users can convert DAI 1:1 to USDS and MKR to SKY at a 1:24,000 ratio in a single transaction. This completes the transition from the MakerDAO era to the Sky ecosystem, both technically and from a community perspective.2025: As of November 2025, the SKY price is trading around $0.50. Why is SKY Important?The SKY protocol holds a strong position in the DeFi ecosystem thanks to several key features. Both its technical infrastructure and governance model distinguish it from other decentralized lending and stablecoin systems.Decentralized StructureSKY offers a platform powered entirely by smart contracts, independent of any central authority. Users connect directly to the protocol with their own wallets; the Sky.money interface acts as a gateway and does not hold any funds. This structure creates a financial layer that is censorship-resistant and accessible to everyone. Decisions are made through community votes, and all transactions are publicly visible on-chain, increasing trust.Collateral DiversitySKY's stablecoin structure is built on a wide variety of collateral, not tied to a single asset. While only ETH was accepted in the early years, BAT, USDC, WBTC, and some tokenized commodities have been added to the collateral pool over time. This spreads risk even in volatile markets and enhances the stability of the USDS/DAI value. Additionally, thanks to the Peg Stability Module, low-slippage 1:1 swaps with assets like USDC are available, and the price of stablecoins remains around the target level of $1. DSR and SSR MechanismsThe SKY ecosystem offers stablecoin users savings products that can generate passive income. The Dai Savings Rate (DSR), originating from the MakerDAO era, is known as a structure that earns interest for DAI holders. With SKY, this mechanism expands, and the Sky Savings Rate (SSR) is introduced. With SSR, USDS holders can earn additional USDS by depositing their tokens into the savings module. There is no minimum limit; users can withdraw from savings at any time. This flexibility makes the protocol an attractive option for both beginners and experienced DeFi users.Integration with Real World Assets (RWA)One of the key elements of SKY is its integration with RWA. The protocol generates income by allocating a portion of its reserves to low-risk financial instruments like US Treasury bonds. This approach allows users to benefit from the secure returns offered by traditional finance in addition to the inherent returns of DeFi. Furthermore, accessing this system doesn't require a bank account or specific regional financial infrastructure; a wallet is sufficient. This allows users anywhere in the world to indirectly benefit from US Treasury bond yields. This significantly strengthens the financial inclusion offered by DeFi.Strong Risk Management and SecurityThe SKY protocol operates on the principle of over-collateralization. Each USDS is backed by an asset exceeding its value. If the collateral value falls below predetermined thresholds, the system automatically activates; the collateral is sold through an auction process to settle the debt. This mechanism maintains the stablecoin's stability. Furthermore, the community constantly evaluates the risk parameters set for each collateral type. Collateral ratios, debt ceilings, and the collateral acceptance list are updated through community votes. This dynamic approach allows the protocol to quickly adapt to market conditions.DAO Governance and CommunityAnother factor that enhances the importance of SKY is its complete community governance. SKY token holders determine everything from new collateral types, fee rates, upgrades, and strategic decisions through on-chain votes. The Sky Atlas, which serves as a guide for the system, is also regularly updated by the community. This means the protocol is not subject to the control of a central person or organization; It is shaped by the collective decisions of its user base. This model is one of the cornerstones that supports both transparency and long-term sustainability. The latest proposals and votes on the protocol are as follows: SKY Token EconomicsThe SKY token was designed as a next-generation governance and utility token, replacing MakerDAO's MKR token. During the MKR to SKY transition, the supply was rescaled at a 1:24,000 ratio, dividing the total potential supply by approximately 24 billion units. This structure makes governance more accessible; many more users can acquire small amounts of SKY and exercise voting rights. While the circulating supply is in the billions, the token remains accessible because SKY's price is trading within a few cents. Currently, its market capitalization is hovering around $1–2 billion. Because MakerDAO/SKY is a revenue-generating protocol, its P/E ratio offers a valuation similar to traditional finance; as the platform's RWA revenues and stability fees increase, SKY's economic model becomes more robust. The MKR-SKY exchange is listed on the SKY website as follows. The SKY token also functions as the protocol's insurance layer. If a large collateral shortfall occurs, new SKY tokens can be minted to cover the shortfall; this mechanism helps stablecoins remain fully collateralized. Furthermore, when the protocol generates excess revenue, the community is discussing periodic burn mechanisms, which further bolster SKY's long-term value.SKY's Use CasesAt the heart of the SKY ecosystem is stablecoin production, which operates on a collateralized borrowing principle. Users lock ETH and other supported assets in vaults as collateral and borrow DAI or USDS in return. The system operates with overcollateralization, meaning the vault always holds more assets than the loan. Arbitrage opportunities and the Peg Stability Module (PSM) come into play to maintain the Peg target, which is 1 DAI/USDS ≈ 1 USD. Offering a near-1:1 swap with other stablecoins like USDC, price deviations are quickly offset. On the savings side, the Dai Savings Rate (DSR), first developed for DAI, and then the Sky Savings Rate (SSR) for USDS stand out. When users deposit DAI or USDS into the relevant savings module, they earn an interest-like return. On the SSR side, this process works through sUSDS; when users deposit USDS, they receive sUSDS, and over time, the value of sUSDS increases as new USDS are added to the pool. These returns are fueled by stability fees from vaults, interest income from lending protocols like Spark, returns from RWA investments, and other DeFi integrations. This means it has a multi-legged revenue model that doesn't rely on a single source.RWA integration is a key differentiator for SKY. The protocol generates regular interest income by directing a significant portion of its stablecoins into US Treasury bonds, corporate loans, or similar low-risk instruments. This allows it to offer attractive rates on products like DSR/SSR, allowing users to share in the returns of traditional finance with just one wallet. RWAs are also included as collateral within the Vault system; it becomes possible to generate DAI/USDS by using tokenized invoices, bonds, or other assets as collateral. This strengthens the bridge between DeFi and the real economy.Risk management operates entirely on-chain. Parameters such as collateral ratios, liquidation thresholds, debt ceilings, and stability fees for each collateral type are determined through governance. Vaults whose collateral value falls below a critical level are automatically liquidated; the debt is paid off through an auction mechanism, preventing the system from going into debt. The diversity of the collateral basket (ETH, USDC, WBTC, RWA, etc.) reduces dependence on a single asset; the share of risky assets can be reduced or their limits lowered over time through community votes.SKY's Future and RoadmapSKY's roadmap is also quite dynamic. As part of its Endgame plan, it aims to evolve from a single protocol to a multi-segmented, modular ecosystem. Sky Stars is at the center of this vision; Early examples like Spark offer independent yet SKY-compatible sub-protocols focusing on different areas (credit, liquidity, and perhaps in the future, DEX, insurance, gaming finance, etc.). Each Star has its own treasury, incentives, and governance, enabling rapid experimentation in the environment without compromising the core protocol. The roadmap includes the gradual implementation of multiple Stars with different roles (liquidity management, core service provision, etc.).Another element fueling this structure is the Sky Allocation System. The goal is to automatically and intelligently allocate the ecosystem's capital to the most efficient locations. The Allocation System is designed to function like a "decentralized central bank," providing USDS liquidity to Stars projects or strategic modules. The Spark Liquidity Layer is one of the first examples of issuing USDS based on collateral in the main vault and then transferring it to opportunities on different chains. In the medium to long term, the amount each Star can borrow, the repayment terms, and risk limits are recorded in Sky Atlas and shaped by governance. Thus, funds in the treasury are flowing into revenue-generating areas rather than remaining idle.RWA also has an aggressive growth plan. Positions based on real-world assets, currently totaling billions of dollars, are expected to expand in both variety and scale in the coming years. Bonds, corporate loans, and new tokenized asset types (e.g., stocks, commodities, fund shares, etc.) have the potential to further enrich the collateral structure. This allows the USDS supply to grow not only by relying on crypto collateral but also on cash flows linked to the real economy, creating a more robust foundation for stablecoin adoption.On the governance and security front, the process isn't stopping; on the contrary, it's becoming more layered. Modernizing voting modules, implementing AI-powered governance tools, and incentivizing active voting through lockstake and reward mechanisms are among the plan's components. In the long term, both Stars and the main protocol components will undergo regular audits, and transparent reporting of reserves and RWA positions is a priority. Meanwhile, with SkyLink and similar bridge solutions, USDS and SKY are expected to operate seamlessly across multiple chains (Ethereum, L2s, and other ecosystems). In the future, the option of migrating to a completely new chain is on the table; however, for now, multi-chain expansion is the primary strategy for Sky to reach a broader user base.SKY's Developers and LeadershipThe team behind the SKY protocol draws from the deep roots of MakerDAO. Rune Christensen, the project's founder, is the primary architect of the SKY ecosystem, having paved the way for MakerDAO. As the first to bring the decentralized stablecoin idea to life, he is now carrying this vision to a more modern and sustainable model within the Sky Ecosystem. Former Maker Foundation members, long-time independent developers, and the global MakerDAO community are working together throughout the development process.In MakerDAO's early years, the Maker Foundation was known as the guiding body for the project; however, in 2020, full control was transferred to the community and the foundation was shut down. This complete transition forms the basis of the governance model known today as SKY Governance. SKY Governance operates through a completely on-chain voting structure, involving individuals and institutions spread across the globe. Every SKY token holder has a say in decisions about the protocol's future and influences changes in their voting power.The SKY ecosystem's leadership approach is centered on a flexible and multi-unit structure. Subprojects, originally conceived as "SubDAOs" during the MakerDAO era, are now rebranded as Sky Stars under SKY. Sky Stars offers a modular structure comprised of autonomous projects with their own decision-making mechanisms, treasury, and goals. The first and most well-known example of these projects is Spark Protocol. Spark is a lending and borrowing platform built on the Aave infrastructure, building on MakerDAO's experience in lending markets and optimized specifically for the Sky ecosystem's stablecoins. The Spark team is gaining significant innovation momentum with the Tokenization Grand Prix program, launched in the summer of 2024, aiming to attract $1 billion worth of real-world assets to the protocol.Frequently Asked Questions (FAQ)Below are some frequently asked questions and answers about SKY:Is SKY the same as MakerDAO?: Yes. SKY is a revamped version of MakerDAO as part of the Endgame plan. The branding was changed in 2024, with the DAI → USDS to MKR → SKY transformation. The technology, team, and vision were preserved, but a more modern governance model and new tools were added.How do stablecoins (DAI and USDS) maintain their value?: The system operates with overcollateralization; for every 1 USDS/DAI, a higher value of collateral is held in the vault. The PSM module is activated when price fluctuations occur, enabling low-loss swaps with stablecoins like USDC. Thanks to arbitrage, liquidations, and collateral structure, stablecoins remain close to $1.What is the SKY token used for?: SKY is the protocol's management key. The community votes with SKY on all critical decisions, from interest rates to collateral types. Furthermore, mechanisms such as burning are being discussed when the system generates excess income. Some reward programs (STR, staking incentives, etc.) also provide advantages to SKY holders. Additionally, if a large collateral gap occurs, SKY is minted and used as system insurance.What's the difference between USDS and DAI?: DAI is the old stablecoin; USDS is the new, upgraded version. Both operate with a target of $1. USDS comes with new incentives (SSR) and a more modern collateral structure. DAI to USDS conversion is 1:1. USDS is planned to become the primary stablecoin in the medium to long term.What is RWA and why is it important?: RWA is the tokenization of real assets such as bonds, loans, and real estate. The SKY protocol uses these assets as collateral or investment instruments. This allows the protocol to generate regular and stable income, which can be passed on to users through SSR/DSR. RWA makes stablecoins more robust. How does the Sky Vault system work?: Vault is a smart contract vault where you can lock up collateral and borrow USDS/DAI. For example, you can deposit ETH and mint USDS up to a certain amount. Your collateral is released when you repay the loan. If the collateral value decreases, automatic liquidation is activated. The logic is similar to the CDP system on MakerDAO.Who can use SKY?: Anyone with an internet connection. The protocol is permissionless; all you need is a crypto wallet. Regional restrictions may apply only to some reward/incentive modules, but the core protocol (vaults and stablecoin transactions) is accessible globally.You can find the latest analysis, tools, and integration guides on SKY and decentralized stablecoins in the JR Kripto Guide series.
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17 Nov 2025
BCH Comment and Price Analysis - November 16, 2025
BCH Technical AnalysisAnalyzing the chart we see that the price has been moving inside a narrowing structure since September, creating both lower highs and lower lows. This isn’t a flat drop; it’s a classic falling wedge that keeps getting tighter.The lower line of the wedge has given strong reactions in its last two touches. The upward moves haven’t turned into a full breakout yet, but each time buyers step in more strongly. This is a good sign that the pattern is working.The upper line of the wedge is currently around the $505–$513 zone. If the price can break above this area with strong volume, the breakout will be confirmed, and a sharp upward move can follow, as the pattern suggests.In falling wedge patterns, the target usually reaches back to where the decline initially began. For BCH, this zone is $562–$571.If this level is cleared, the chart opens room toward:$600–$605and later the next resistance at $651.Short-term targets are:$505$537$562.The lower band of the wedge is still holding, but a retest is always possible. This support area is between $460–$443. Small dips into the lower band do not break the pattern; they’re actually common behavior in wedges.However, if the price closes below $443 and stays there, the pattern weakens and the structure may turn back into a broader downtrend channel. Falling Wedge Structure These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However,traders are responsible for their own actions and risk management. Morover, it is highly recommended to use stop loss (SL) during trades.
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16 Nov 2025
BIO Comment and Price Analysis - November 16, 2025
BIO/USDT Technical AnalysisBio Protocol continues to expand its “DeSci” solutions on the blockchain, aiming to support scientific research. Recently, the BIO token was integrated into the Coinbase x402 protocol, and large investors have been accumulating BIO during the recent pullback. These developments strengthen the perception that BIO is not just another crypto asset, but a platform with real utility in scientific research. Dish-Handle Formation Analyzing the chart on a daily time frame, we see that BIO is still forming the handle of its long-standing cup pattern. Although the current price is around $0.0722, the most important zone for the structure remains the $0.1148–$0.1200 area. This is the lower boundary of the handle and the key level that keeps the formation valid.The price has been moving sideways for months between $0.11–$0.18, creating a tight and stable handle. As long as BIO stays in this range, the larger pattern remains active and the potential for an upside breakout stays alive.The critical breakout point is $0.1874. A strong move above this level could accelerate the trend significantly.If a breakout occurs, the first target on the chart is $0.2690. Above that, the $0.3059–$0.3700 zone acts as a broader resistance area. Clearing this region would activate the technical target of the cup-and-handle formation at $0.4554. Over the longer term, the structure even opens the door toward $0.6184.On the other hand, $0.1148 remains the key support. A breakdown below this level would damage the handle formation and could push the price down toward $0.0771.SummaryBIO is still maintaining its larger cup formation.The handle structure is clear and remains constructive.A close above $0.1874 would confirm the breakout.Mid- to long-term targets remain strong.The formation stays valid as long as the price holds above $0.1148.These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, traders are responsible for their own actions and risk management. Morover, it is highly recommended to use stop loss (SL) during trades.
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16 Nov 2025
ETHFI Comment and Price Analysis - November 14, 2025
ETHFI/USDT Technical Analysis ETHFI Range Area Analyzing the chart on a daily time frame, we see that the coin keeps moving within a broad range structure. The price has recently bounced strongly from the lower range band at $0.80–$0.88, showing early signs of recovery. This zone has acted as a key demand and support area multiple times before. The first resistance in the short term to watch is $1.12. A breakout above this level could open the door for a move toward $1.43, which aligns with the mid-range resistance and serves as a major barrier.On the other hand, maintaining support above $0.88–$0.80 remains crucial for the ongoing trend. A daily close below this area could increase selling pressure and trigger a deeper pullback toward $0.66.Support and Resistance LevelsSupport: $0.88 – $0.80 – $0.66Resistance: $1.12 – $1.43 – $1.56 – $2.04Summary ETHFI has rebounded strongly from the lower range support. Key breakout zones: $1.12 and $1.43. As long as the $0.80–$0.88 support holds, recovery momentum remains intact. A close below $0.80 would weaken the technical outlook.These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, the user is responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during the transactions.
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14 Nov 2025
XRP ETF Launches: What Happened on the First Day of Trading?
Canary Capital's XRP ETF, XRPC, has become one of the crypto market's most notable products, far exceeding expectations on its first day of trading. The fund, which launched on Nasdaq on November 13th, saw net inflows of $245 million and trading volume of approximately $58-59 million in just one day. This figure marked the strongest opening performance among the more than 900 ETFs launched in 2025.Buying in the first minutes of the day signaled a record-breaking prospect for the fund. Bloomberg ETF analyst Eric Balchunas noted that volume reached $26 million within 30 minutes of opening, signaling a rapid pace that exceeded his own estimate. This also eclipses the $57 million record set last month by Bitwise's Solana fund, BSOL.The strong inflows cannot be explained solely by visible trading volume. ETF experts attribute the relatively low intraday volume, yet significantly higher net inflows, to "in-kind creation" processes. In this mechanism, large institutional investors create fund shares by directly creating a basket of assets. Because these transactions are not reflected in exchange volume, a visible gap between inflows and volume exists.The XRP community, meanwhile, rallied behind the ETF launch. Social media engagement surged after the platform's listing on Nasdaq. Journalist Eleanor Terrett highlighted the community's influence, saying, "With the XRP Army behind it, who can really be surprised?" ETF expert Nate Geraci also noted that nearly all crypto ETFs that have entered the market in the last two years have exceeded Wall Street expectations, emphasizing that demand remains underestimated in traditional financial circles.While institutional interest is growing, a similar appetite has been evident among retail investors. Analysts say that XRP has been widely followed for years, and this awareness naturally drives first-day interest in new products. Presto's Min Jung emphasized that the XRP Army is one of the market's most resilient communities and its strong tendency to support volume during new product launches.XRP Price DropsDespite this strong start, the XRP price did not exhibit the expected momentum on ETF Day. The token lost approximately 8 percent of its value in 24 hours, retreating to $2.28. A more than 30 percent increase in trading volume indicated a high tendency for investors to switch positions. Open interest, particularly on CME and Binance, declined, with analysts attributing this to the strengthening of the "news sell" effect. Critical levels also stand out in the technical landscape. On-chain analyst Ali Martinez states that the $2 band is a significant support area for XRP, both psychologically and technically. It is stated that if this area holds, impulse buying could intensify, while if it breaks, the pullback could deepen.On the regulatory front, a new bipartisan initiative from the US Congress is noteworthy. The bill, which was introduced on November 10 and aims to clarify XRP’s commodity status under CFTC oversight, could shape a significant area of uncertainty for the asset’s future at a time when ETF interest is rising.
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14 Nov 2025
Binance Expands TRY Market: 4 New Pairs Coming
Binance has taken a new step to strengthen its trading volume in the Turkish market. The exchange announced the addition of four new TRY pairs to the spot market on November 26th, and will also activate Trading Bot support for these pairs. This will provide users with a wider range of trading options and enable faster movement in the TRY-based market with automated strategies.Binance Adds New Options to the Turkish MarketBinance has taken a new step to expand its trading options in the spot market. The exchange announced the launch of four new TRY trading pairs on November 26, 2025. ACM/TRY, DODO/TRY, HEI/TRY, and XTZ/TRY will now be added to the TRY-based pairs, which have attracted significant interest from active traders in the Turkish market. This expansion creates a variety that will allow both new users and experienced investors to develop different strategies.These trading pairs will be active in the spot market starting at 3:00 PM Turkish Time on November 26, 2025. Considering Turkish time, investors will be able to start trading these new pairs in the afternoon. Binance has recently been placing greater emphasis on TRY-based pairs, which are particularly popular in the region. This makes it easier for users to trade in local currencies and increases market depth.Beyond the new pairs, another noteworthy announcement from Binance is support for Trading Bots. On the same date and time, November 26th, at 3:00 PM Turkish Time, the Spot Algo Orders feature will be activated for ACM/TRY, DODO/TRY, HEI/TRY, and XTZ/TRY pairs. This step represents a significant convenience for investors building automated strategies, as TRY pairs often experience periods of rapid volatility, and Trading Bots offer more systematic strategies by reducing the burden of manual trading.Binance's statement also outlines a number of conditions that users must adhere to. First, it is important to remember that TRY is not a digital currency but is traded entirely as a fiat currency. Therefore, users wishing to trade the new pairs must complete account verification. Investors who fail to verify their accounts will not be able to use these trading pairs.The exchange also devoted considerable attention to regulatory compliance. Due to legal requirements, users residing in certain countries will not be able to trade these pairs. The list of these regions includes Canada, Cuba, the Crimea Region, Iran, the Netherlands, North Korea, Syria, the United States and all its territories, and the non-governmental areas of Ukraine. Binance noted that this list may be updated over time in response to regulatory changes.The expansion of TRY pairs appears to demonstrate the exchange's appeal, particularly to Turkish investors. Making it easier to open trades in the local currency eliminates the hassle of foreign exchange transfers and increases liquidity. The launch of TRY-based trading for well-known assets such as ACM and XTZ, as well as HEI and DODO, will make these coins accessible to a wider audience.
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14 Nov 2025
What is PAX Gold (PAXG)?
PAX Gold (PAXG) is a cryptocurrency that runs on the blockchain and is backed entirely by physical gold. Launched by Paxos Trust Company in 2019, each PAXG corresponds to exactly 1 troy ounce (31.1 grams) of gold in London Good Delivery standard, held in vaults in London. So, when you hold PAXG in your wallet, you are actually holding gold bullion behind the scenes.The price of PAXG closely tracks the price of gold per ounce. Paxos is committed to holding the same amount of gold in the vault for each token in circulation, thus maintaining a constant balance between the total PAXG supply and the amount of gold in reserve. Because it operates as an ERC-20 token on the Ethereum network, it is compatible with many crypto exchanges, wallets, and DeFi platforms. In short, PAXG offers a "digital gold" alternative that combines the trust and permanence of gold with the speed and accessibility of crypto. Let's explore how PAXG came about, the steps involved in shaping this idea, and why it has transformed gold investing so dramatically.Definition and Origins of PAXGPAX Gold is a stablecoin developed by Paxos to reshape gold, fully backed by physical gold. Each PAXG is issued with the approval of the New York State Department of Financial Services and is equivalent to a full ounce of London Good Delivery gold. These gold coins are stored as LBMA-certified bullion in the world's most secure vaults, such as Brink's. So, the PAXG you see in your wallet is actually your share of a physical bullion.The origin story of PAXG lies in the unchanged challenges of investing in gold. Buying gold bullion, finding safe storage, cashing it out, splitting it into smaller pieces… These are all unique challenges. Paxos CEO Charles Cascarilla considers physical gold a "burdensome and now archaic" investment. It's often impossible to buy and sell gold quickly or use it as collateral. Gold ETFs or futures, however, don't fully grant ownership of real gold. This is where PAXG comes in; by representing gold on the blockchain, it offers both individual and institutional investors a modern gold alternative that is easily divisible and transferable in seconds. In a sense, it makes gold investing more accessible.When most people think of stablecoins, they think of tokens printed in exchange for dollars. PAXG is the gold version of this model. Its price is directly tied to the ounce value of gold, making its value more stable. However, what truly distinguishes it is that it is backed by real gold, not cash. Paxos charges only a small transaction fee and Ethereum gas to print PAXG, significantly reducing the traditional costs of gold investing. The company also pays particular attention to security: smart contracts are audited by independent companies, the gold reserve and token supply are verified monthly, and customer assets are completely separated from Paxos's balance sheets. This ensures that PAXG holders' gold is securely protected even in the event of bankruptcy. Here's how you can see the difference between Paxos and other gold investments:FeaturePAX Gold (PAXG)Major Gold ETFsGold Futures (Comex)LBMA 400 oz Gold BarUnallocated GoldCustody FeesNo Fee19–40 bps per yearN/A5–25 bps per year0–10 bps per yearMinimum Purchase0.01 t oz (~$20)1 share (approx. $200)1 contract (100 t oz ≈ $200K)Typically ~$800K per barVariableTime to SettleInstant*T+2 daysExpiration dateT+2 daysT+2 daysAllocated✓Variable✕✓✕Instantly Redeemable for Physical✓$4.00✕✓✕RegulatedNYDFSSEC & equivalentsCFTC✕✕PAXG's History: Major MilestonesPaxos Gold has achieved many milestones since its launch. The coin has faced a number of challenges, particularly in terms of regulation. Let's examine the critical developments in the coin's history:2019 - Launch and Regulation: PAX Gold was announced by Paxos Trust Company on September 5, 2019, making a quiet but bold entry into the crypto world. Launched with the approval of the New York Financial Services Authority (NYDFS), PAXG became the world's first regulated gold-backed digital asset. With the launch, Paxos delivered a significant message of trust: Each PAXG is backed by a single piece of physical gold, and users can convert their tokens into real gold. To ensure this wasn't just a promise, Paxos even added a verification tool to its website; users can see which gold bar their PAXG in their wallet corresponds to, along with its serial number, purity, and weight, with a single click. 2020 - Exchange Listings: After a quiet debut in 2019, 2020 was the year that PAXG gained visibility. Binance's listing of PAXG in August instantly brought the project to millions of users. Binance paired PAXG with BTC, BNB, BUSD, and USDT, increasing liquidity and providing investors with digital access to gold. Around the same time, Paxos's own exchanges, itBit, and Kraken, also began supporting PAXG. By the end of the year, the circulating supply and market capitalization of PAXG continued to grow steadily; PAXG was now more widely recognized as the next-generation version of gold investing.2021 - Growth Accelerated: 2021 was a breakout year for PAXG. According to data published by Paxos, the PAXG supply surpassed 125,000 tokens just 18 months after launch, and its market capitalization had risen to approximately $240 million. This represented more than fourfold growth in a single year. That same year, Paxos entered the Indian market; WazirX, one of the country's largest platforms, listed the PAXG/INR pair, opening a direct path to "digital gold" for Indian users. On the transparency front, Paxos further strengthened its commitment. Independent auditing firm Withum began publishing monthly reports verifying the gold held in Paxos's custody accounts by comparing it with the circulating token supply. These reports were publicly published. Paxos also announced that the gold held in reserves was protected by Brink's security standards, and that large investors holding sufficient tokens could, if they wish, directly receive LBMA-certified bullion.2022 - Digital gold moves into the mainstream: By 2022, PAXG was no longer just a hot topic for tech enthusiasts but also institutional investors. Coinbase's listing of PAXG was a significant milestone for investors prioritizing regulatory compliance, especially in the US. Global exchanges like KuCoin, Bitstamp, and Bitfinex also began listing PAXG, further expanding its reach. Throughout that year, the amount of PAXG in circulation steadily increased; in conjunction with global gold price movements, the token's daily trading volume sometimes reached $50–100 million.2023 - Ecosystem and institutional advancements: By 2023, PAXG's market capitalization was approaching the billion-dollar mark, while the tokenization trend was gaining momentum in the traditional financial world. Gold-backed digital assets were gaining popularity among both institutional and individual investors. Paxos has become one of the industry's trusted infrastructure providers, undertaking high-profile projects like PYUSD, while also forging new integrations and partnerships for PAXG. Many fintech companies have added PAXG to their product lines to offer gold investments to their customers, and some investment platforms have made PAXG trading and custody part of their standard services.2025: In 2025, PAXG took the step of zeroing out transfer fees on the Ethereum network, reducing gas costs for large token transfers. Its access to exchanges has been expanded: It is scheduled to list on major platforms like OKX in October 2025, increasing liquidity. In line with the rise of tokenized gold assets, PAXG also gained a significant share of the gold-backed digital asset class in 2025, demonstrating increased investor interest and institutional adoption. As of November 2025, the PAXG price remains pegged to $4,200 per ounce of gold. Why is PAXG Important?Now, let's take a look at why PAXG is so talked about and why it's so important.New Uses for Digital GoldPAXG's true power lies not only in being a gold-backed token, but also in expanding its use cases by moving gold to the blockchain. While traditionally buying, storing, and transferring gold was a hassle, with PAXG, this process takes seconds. Investors can add gold to their portfolios without buying bullion or opening a gold account, using it for either long-term value storage or short-term transactions. This flexibility makes PAXG a powerful alternative in the modern investment world.A Fast Bridge Between BordersPAXG offers a seamless transition between fiat and cryptocurrency and the physical and digital worlds. You can either convert PAXG with Turkish Lira to gold or convert PAXG into physical gold bars. Thanks to the redemption options Paxos offers users, PAXG can be converted into real bullion when needed. This bridge function makes PAXG a practical solution preferred by both individual users and institutional investors. Actions between PAXG/crypto deposit and fiat deposit. Its structure is suitable for the corporate worldPAXG provides significant operational convenience for gold trading companies, private banking units, or institutions involved in value transfers. While international gold transfers can take days, PAXG transfers are processed in seconds, eliminating logistics, insurance, and storage costs. By integrating PAXG into customer accounts, institutions can offer digital gold services and, through smart contracts, produce gold-backed products. This growing professional use is driving PAXG's growing presence in the financial ecosystem.Gold Working in the DeFi WorldPhysical gold doesn't generate income, but PAXG does. Being a token running on Ethereum makes PAXG usable as collateral, liquidity, or a borrowing tool in DeFi protocols. MakerDAO's acceptance of PAXG as collateral is a prime example of this. It can also provide liquidity on platforms like Uniswap and SushiSwap, and PAXG can be borrowed against in some decentralized lending protocols. This is one of the most critical features that "transforms gold from a passive investment tool into an active financial instrument."Full reserve, full trust modelThe most crucial element that solidifies PAXG's value is the 100% verification of its gold reserves. These gold coins, held in Brink's vaults, are checked through monthly independent audits; Paxos proves that each token in circulation matches the gold in the vault. Furthermore, users can see the corresponding PAXG bullion, down to its serial number. Because customer assets are separated from the company's balance sheet, any financial problems Paxos may experience do not affect user assets. This level of transparency and trust makes PAXG one of the most reliable gold tokens on the market. Paxos fiat/stablecoin conversion Flexible supply and secure issuance mechanismPAXG operates on a "mint & burn" model. This means that when someone deposits gold into Paxos, new PAXG is minted; when someone returns their PAXG, the token is burned, releasing the gold. This mechanism ensures that the supply builds naturally and is always tied to physical gold. The low minimum purchase limit (0.01 PAXG) makes gold investment accessible even to small investors.A token economy supported by transparencyBecause PAXG is an ERC-20 token, all data is trackable on-chain. Total supply, burned tokens, transfers—all can be viewed instantly via Etherscan. Paxos also shares reserve information, audit reports, and allocated gold data via real-time APIs, making PAXG a fully open model. This level of transparency both increases trust and is among the reasons institutional investors seeking a regulation-focused product prefer it. PAXG Developers and LeadershipThe team behind PAX Gold is Paxos Trust Company, founded in 2012. The company operates as a regulated trust institution authorized by the State of New York, developing blockchain infrastructure. Paxos's primary goal is to bring traditional finance and digital assets together.Co-founder Charles Cascarilla is the originator of PAXG's idea. A financier with a Wall Street background, he took the idea of solving the perennial challenges of gold investment with blockchain and transformed it into PAXG. Co-founder Rich Teo is a strong technical player who complements this vision. The entire team focuses on developing digital infrastructures that enhance financial confidence.Paxos's most striking aspect is its "regulation first" approach. PAXG's launch with NYDFS approval before its launch is a clear example of this approach.Highlights from the Leadership TeamPaxos' management consists of experienced individuals from the traditional finance and technology worlds. CEO Charles Cascarilla is the leader who sets the company's vision; CTO and co-founder Rich Teo is the technical mind focused on the financial applications of blockchain technology.The company's compliance department includes former regulatory agency employees, development includes engineers known in the crypto industry, and executives with Wall Street backgrounds. The fact that Paxos's advisory board includes former senators and financial regulators demonstrates the company's commitment to compliance.This team makes it possible to create a product like PAXG that is both technically sound and legally sound.The Company's Other ProjectsPAX Gold isn't Paxos's only project; on the contrary, the company's product family is quite extensive.Pax Dollar (USDP) is one of the first USD stablecoins backed one-to-one by the US dollar and compliant with regulations.Binance USD (BUSD) is a stablecoin launched in partnership with Paxos and Binance.PayPal USD (PYUSD) is one of the world's first major technology-stablecoin collaborations powered by Paxos's infrastructure.Paxos also operates its own cryptocurrency exchange, itBit, and offers blockchain-based securities clearing services to many traditional financial institutions. Pilot clearing of some stock transactions on blockchain in the US has been made possible by Paxos's infrastructure.The company has also initiated efforts to obtain a national bank license from the US Office of the Comptroller of the Currency, demonstrating the ambitious nature of Paxos's long-term vision.Regulatory ApproachPaxos places a high priority on compliance in all areas of its operations. A New York trust license, full reserve backing of client assets, monthly independent audit reports, and robust KYC/AML processes—all of these ensure Paxos's credibility in the industry.This approach is directly reflected in PAXG. PAXG is considered one of the most transparent and regulated gold tokens on the market. While competing gold tokens occasionally face reserve and compliance disputes, Paxos's approach makes PAXG a much more reliable option for institutional investors.Paxos plans to continue collaborating with regulatory bodies in the future and expand its product portfolio in line with global legal frameworks. This stance will remain a cornerstone of PAXG's long-term trust-based journey.Frequently Asked Questions (FAQ)Below are some frequently asked questions and answers about PAX Gold:What is PAXG and how does it work?: PAX Gold (PAXG) is a gold-backed cryptocurrency where each token is equivalent to one physical ounce of gold. PAXG operates on the Ethereum blockchain using the ERC-20 standard and is managed by Paxos. Paxos issues PAXG tokens in exchange for LBMA-certified gold bars held in its vaults. This allows PAXG token holders to own gold digitally. The system works on the principle that Paxos deposits gold into the vault when minting tokens and removes gold from the vault when redeeming them. Ultimately, the amount of PAXG in the market remains identical to the amount of gold in the vaults, and the token value is always linked to the price of gold.How are reserves stored and verified?: PAXG's gold reserves are stored in high-security vaults such as Brink's in London. This gold is held by Paxos Trust on behalf of customers and is regularly audited. Every month, an independent auditing firm (Withum) examines Paxos's reserve accounts and publishes reports confirming that the number of PAXG in circulation exactly matches the number of gold ounces in the vault. Paxos also offers a query tool for transparency, allowing users to view the serial numbers and details of the gold bars corresponding to the PAXG in their wallet addresses. These mechanisms continuously verify the security and integrity of PAXG reserves.Which exchanges is it traded on?: PAX Gold is currently listed on many major cryptocurrency exchanges. You can find PAXG in various trading pairs on global exchanges such as Binance, Coinbase, Kraken, KuCoin, Bitstamp, and Gemini. Local exchanges in the Turkish market, such as Paribu and BTCTurk, periodically add PAXG to their listings (subject to change depending on listing status). You can also trade PAXG for other Ethereum-based tokens on decentralized exchanges (such as Uniswap). Because of its high liquidity, PAXG transactions generally occur with low slippage and can be easily traded on many platforms.Is it possible to buy physical gold with PAXG?: Yes, PAXG holders can convert their tokens into physical gold, but there are practical requirements. Paxos allows users who accumulate a sufficient amount of PAXG (at least 1 oz and multiples thereof) to exchange their tokens for physical gold bars. For example, if you hold 400 PAXG, this is equivalent to exactly 400 oz of gold bars, and you can purchase these bars through Paxos. For smaller amounts, Paxos offers token holders the option to convert their gold to cash or convert it into unallocated gold credits. It is also possible to purchase PAXG in gold bars or coins in certain weights through some partner organizations. However, such transactions generally require additional transaction fees and identity verification. In summary, PAXG is one of the few tokens that offers direct gold delivery, but due to logistical and regulatory requirements, this option is mostly used by large investors.Which network does PAXG operate on?: PAX Gold initially runs on the Ethereum network and adheres to the ERC-20 standard. Therefore, all Ethereum-compatible wallets (MetaMask, Ledger, Trust Wallet, etc.) and platforms support PAXG. Currently, Paxos has not directly issued PAXG on another blockchain. However, users can use PAXG in other ecosystems by bridging it to different networks. For example, some DeFi bridges allow PAXG to be transferred wrapped in the Binance Smart Chain network. Officially, Paxos operates all of PAXG on Ethereum. Paxos will announce multi-chain support if it becomes available in the future.What are the advantages for individual investors?: PAXG offers individual investors a secure, low-cost, and highly practical investment option without the hassle of physical gold. Gold is stored in professional vaults, and investors can manage it digitally without paying any storage fees. Investments can be made with very small amounts, PAXG is traded 24/7 on global exchanges, and transfers can be made in seconds. Paxos's regular audits ensure transparency, and unlike physical gold, PAXG can also be used as collateral or yield on DeFi platforms. All of these features make PAXG a versatile and modern "digital gold" alternative for the individual investor.
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13 Nov 2025