Preface:
Over the past 24 hours, Bitcoin and Ethereum have increased by 0.56% and 1.44%, with current prices at $90,990 and $3,150, respectively. The ETH/BTC exchange rate remains at 0.034. The Crypto Fear & Greed Index is at 90, indicating extreme greed.

Market Trending

The U.S. spot Bitcoin ETF saw a net inflow of $255 million yesterday. IBIT had a net inflow of $89.99 million, FBTC saw $59.95 million in net inflows, and BITB had $24.37 million in net inflows.
Public Chains
SOL and SUI remain strong, even as the broader market experienced a slight pullback. SOL reached a new annual high of $240, while SUI hit almost $4. After ETH/BTC dropped to a new low, ETH bounced back, briefly surging to $3,400 before stabilizing near $3,150.
Meme Sector
Thanks to a social media post by Elon Musk featuring a banana-themed image, BAN surged by more than 40% within a day, peaking at $0.41. Among the established high-market-cap meme tokens, PEPE and SHIB have seen a noticeable increase in trading volume, though no significant breakout has occurred yet.
BTC Ecosystem
The Bitcoin Ordinals market saw a general uptick, with the leading project DOG rising by over 20% for two consecutive days, surpassing $0.008.
DeSci Sector
RIF continued its upward trend, with its market cap reaching a record $140 million.

Spot Bitcoin ETF Flows

The U.S. Bitcoin spot ETF saw a net inflow of $514 million yesterday, with total trading volume surpassing $500 billion just 10 months after its launch. It is now competing with some of the world’s most established ETF products, including the Vanguard S&P 500 ETF (VOO) and Invesco QQQ Trust (QQQ), which tracks the Nasdaq 100 Index. IBIT saw a net inflow of $230 million, FBTC a net inflow of $186 million, and ARKB a net inflow of $145 million.
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Daily Spotlight

Today’s spotlight is HBAR, with a 24-hour increase of 42.2%. Founded in 2018, Hedera (HBAR) is a fast (>10,000+ TPS), secure (ABFT), and fair public ledger network that uses hashgraph consensus. It was created by computer scientist Leemon Baird and CTO Mance Harmon. Hedera operates with two types of nodes: consensus nodes, which determine the transaction order and history, and mirror nodes, which relay this information to other stakeholders in the network. HBAR is the native, energy-efficient cryptocurrency of the Hedera blockchain, supporting decentralized applications and maintaining the PoS network. Recent news about Hedera Board Member Brian Brooks potentially becoming the next SEC Chair has fueled a rapid price increase, with HBAR rising by 42.2% over the past 24 hours.
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The Word on the Street

The Trump team is consulting with the CEO of BlackRock for the new Treasury Secretary. According to a Fox Business reporter, the Trump team has sought input from BlackRock CEO Larry Fink and at least one other BlackRock executive regarding the Treasury Secretary position. The reporter noted that Donald Trump and Larry Fink have a longstanding relationship, with Trump often consulting Fink on market-related matters. Although Larry Fink will not be a candidate for Treasury Secretary, this move signals Trump’s “grand vision” for economic policy. Larry Fink has previously stated, “I believe Bitcoin is a legitimate financial tool, and it certainly has a place in an investment portfolio.”

Project Funding

Ethereum-compatible Layer 1 blockchain Monad has launched its testnet. On November 18, reports revealed that the Ethereum-compatible Layer 1 blockchain Monad has begun a phased rollout of its testnet. Crypto trader Jordan Fish (known as Cobie) confirmed on social media that he has completed transactions on the Monad testnet, noting its high speed. Monad Labs had previously tested over 10,000 transactions per second (TPS) internally when launching a developer network in March. The project uses a pipelined architecture to rebuild the EVM, claiming a one-second block time and instant block finality, though its node hardware requirements are about double that of Ethereum’s mainnet. In April, Monad Labs secured $225 million in funding led by Paradigm, with participation from Electric Capital and other investors.