XRP ETFs Could See Aggressive Accumulation – Here Are The Numbers

The public offering for Monad's MON tokens will conclude oversubscribed, as a late surge in buying activity assuages initial fears that the token sale would fizzle out. 

The sale, which sought to raise $187 million in USDC, has raised nearly $216 million as of publication time, over 115% of the target. The pace of buys increased on Saturday ahead of the sale's planned 9 p.m. EST conclusion, according to a dashboard from X user Swishi, with over $43 million in buys over the past 24 hours. 

The pace of MON buys began to increase Saturday morning, via Swishi.

The MON token sale, which started hot with $43 million in buys within the first half hour of its launch on Nov. 17, seemed to fizzle that day, reaching only 45% of its target roughly six hours after it began. In comparison, a token sale for rival network MegaETH on Oct. 27 saw $1.39 billion in commitments for just $50 million worth of tokens, with the sale oversubscribed by 27.8x. 

Monad is seeking to develop an EVM-compatible hyper-performant Layer 1 network. (MegaETH, also EVM-compatible, is a Layer 2 rollup.) About 7.5% of the total MON supply was offered via Coinbase, in the latter firm's first major test of its new public token sales platform, a significant shift in strategy for the leading U.S. crypto company. 

Of the max 100 billion MON token supply, 38.5% will be reserved for ecosystem development, 27% for the team, and 19.7% for investors. A smaller 4% allocation is reserved for the Category Labs Treasury. 

Monad co-founder Keone Hon had defended the firm's token sale earlier in the week, when it looked like the sale might end undersubscribed. "The purpose of the MON token sale is to achieve the broadest distribution," Hon wrote in a post to X. "We chose Coinbase (and their allocation algorithm, which is democratic and transparent) because of their unique ability to reach an audience that we think is important to engage and re-activate. The world is a big place and it's so important to break out of the bubble."

Hon had predicted that the sale's mechanisms might lead to a last-minute surge in commitments. "In the MON token sale on Coinbase, users get 5 1/2 days to decide whether to commit, and once they commit, they're locked in," Hon also said on Tuesday. "That actually incentivizes people to wait until the last minute to evaluate, which is an interesting dynamic that might be revisited for future sales."

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The Cardano network suffered a temporary chain split on Friday, due to a “malformed” delegation transaction, transactions to delegate ADA (ADA) to a staking pool, which are valid on the protocol level but can cause code malfunctions that affect network functionality.

This “malformed” transaction exploited an old code bug in the underlying software library used by the Cardano blockchain, resulting in a network partition due to a disagreement in how nodes processed the transaction, according to an incident report from Cardano ecosystem organization Intersect.

Staking pool operators were directed to download the latest version of the node software to fix the issue and reconstitute the split chain into a single blockchain history. 

However, the split has led to concerns about orphaned transactions and potential ADA double-spends that have caused economic damage to some users.

Ethereum is testing a critical juncture as the golden pocket between $2,600 and $2,800 comes into play. With resistance looming at $2,800, the market now faces a pivotal moment. Can ETH reclaim this level and spark a move toward $3,000, or will sellers push it back below key support?

Golden Pocket Breakdown Validates Ethereum’s Downside Target

In an Ethereum update, analyst Luca has offered a detailed analysis of the leading altcoin, reflecting on the expert’s previous predictions. As he covered all his PAT updates and his latest YouTube video, once Ethereum broke down below the high-timeframe support range, specifically the golden pocket between the 0.5 and 0.618 Fibonacci POIs, the most likely outcome was a continuation of the downside pressure.

Luca explained that this expected continuation was targeting the next major support, the high-timeframe support range marked in purple. That exact scenario just played out, with the price now confirming the bounce on the low-timeframes, performing precisely as anticipated.

From this validated support, Luca believes the most likely outcome is a reversal back to the upside. However, he stressed the need for confirmation before fully committing to the long side: “Before I start scaling out of my hedges, I want to see additional signs of strength and a clear bottoming formation to confirm that this level is holding,” Luca stated.

The analyst concluded with a warning: if the price were to break below this established range, it would entirely invalidate the idea that the move is a simple corrective Wave 2 on the high-timeframes. Instead, the breakdown would signal a durable structural decline, which Luca intends to “avoid getting caught in.”

$2,600 Tested: Buyers Rush To Defend Lows

After examining current price action, crypto analyst Ted Pillows highlighted that ETH experienced significant volatility yesterday, nearly touching the $2,600 level before finding a temporary floor. Following that test, Ethereum is currently attempting to reclaim the $2,800 level, but is facing noticeable resistance from sellers at that mark.

The analyst provided a clear path for a continued recovery. Should Ethereum decisively reclaim and hold the $2,800 level, it would signal sufficient bullish strength, propelling ETH toward the next significant psychological and technical target at the $3,000 level.

Conversely, Ted warns that if this essential $2,800 level is not reclaimed, the market is likely to reverse lower. As a result, traders should expect a sweep below the $2,500 level, indicating a need to test deeper support before the asset can attempt another structural recovery.

Aerodrome, the top decentralized exchange (DEX) on Ethereum Layer 2 network Base, and Velodrome, the top DEX on Optimism, suffered a front-end compromise early Saturday morning (ET) and urged users to use decentralized mirrors to access both platforms. 

Both projects said they are investigating the DNS hijack of their centralized domains, and reassured users that the platforms' underlying smart contracts remain secure, in posts on X. A DNS hijack typically allows an attacker to redirect users to a scam website, even if they type in the correct domain, such as Velodrome.finance, Velodrome.box, and the Aerodrome equivalents. 

Though the fraudulent website could be accessed in the morning, by Saturday afternoon at time of publication, the fraudulent website was no longer loading, suggesting a fix is in progress. In a post, Velodrome's X account had asked domain provider My.box to contact them for assistance, though the post was later deleted. The Block could not immediately reach Velodrome or Aerodrome for further comment. 

Curiously, the attack comes nearly two years after a similar attack took down both platforms' front-ends on Nov. 29, 2023. Blockchain sleuth ZachXBT estimated the losses from that compromise at over $100,000, and identified domain registrar Porkbun as the culprit, following another attack days later.

Dromos Labs, the organization behind Velodrome, recently announced it would unify the two sister protocols into a single platform dubbed "Aero." The platform is expected to launch in the second quarter of 2026, and will unify the platforms' existing tokens into the single AERO token, which will "serve as a claim on the productive capacity" of both exchanges. 

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

SYDNEY, Nov. 22, 2025 /PRNewswire/ -- Following KuCoin's recent investment in Australia—including the opening of its new Sydney CBD office and the appointment of James Pinch as Australian Managing Director—the global crypto platform further deepened its local engagement at the Australian Crypto Convention (ACC) on November 22, 2025. KuCoin CEO BC Wong and James Pinch joined a fireside chat moderated by Winston McLaren, Australian Head of Compliance, titled "Regulated, Connected, Converging: The Future of Digital and Traditional Finance." The session reaffirmed KuCoin's commitment to trust, localisation, and long-term investment in Australia's digital asset landscape.

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The discussion explored Australia's transition from early crypto experimentation to integrating digital assets into mainstream finance. Structured around three pillars—Regulated, Connected, and Converging—the conversation outlined the foundations required for crypto to become a trusted, everyday asset class.

"Security and compliance are structural, not reactive," said BC Wong. "KuCoin has made significant investments in secure, transparent infrastructure, including the launch of our $2 Billion Trust Project earlier this year. Our strategy for Australia follows the same principle: regulation acts as a stabiliser for innovation, not a restriction."

Drawing on his extensive experience in traditional financial services, James Pinch added: "Clear and progressive regulation is essential for broad crypto adoption. While global regulatory frameworks remain fragmented, they are expected to consolidate and mature over the next 5–10 years. Regulators worldwide are becoming increasingly open-minded, making ongoing dialogue and collaboration critical."

Localisation was another key theme. "Being local" means hiring Australian talent, understanding domestic regulations, tailoring products, and contributing meaningfully to the local economy. KuCoin reiterated its confidence in the Australian team to adapt global products responsibly while prioritising consumer protection and education. These values—discipline, integrity, patience, and long-term commitment—align strongly with Australian expectations.

The session also featured KuCoin's new brand film with global brand ambassador Adam Scott. Debuting in Australia, the campaign highlights shared values of discipline, resilience, and long-term focus, further supported by KuCoin's role as Official Partner and exclusive crypto exchange partner of the 2025 BMW Australian PGA Championship.

Looking to the future, BC Wong noted that digital and traditional finance are no longer separate systems but "one ecosystem with two origins—now converging." As assets, payments, and trading continue to digitise, KuCoin aims to provide secure, transparent access to this integrated financial future.

This discussion builds on KuCoin's broader Australian expansion, including new roles across compliance, operations, cybersecurity, and product development. With a focus on regulatory alignment and cultural integration, KuCoin aims to support a more mature and trusted crypto ecosystem in Australia.

About KuCoin

Founded in 2017, KuCoin is a leading global crypto platform built on trust, serving over 40 million users across 200+ countries and regions. With established recognition for its reliability, the platform leverages cutting-edge blockchain technology, robust liquidity solutions, and advanced user account protections to deliver a secure trading environment. KuCoin offers access to 1,000+ digital assets and solutions, including Web3 wallet, Spot and Futures trading, institutional services, and payments. Recognised by Forbes as one of the "Best Crypto Apps & Exchanges" and a "Top 50 Global Unicorn" by Hurun. KuCoin holds SOC 2 Type II, ISO 27001:2022, ISO 27701:2025, and CCSS certifications and is committed to security, compliance, and innovation under the leadership of CEO BC Wong. Notably, KuCoin is the only top global exchange to have achieved all four major security certifications, underscoring its industry-leading standards in safeguarding user assets.

Learn more: https://www.kucoin.com/en-au

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