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Airdrop

An Airdrop is a distribution of free tokens to a community, typically used as a marketing tool or a reward for early protocol adopters and testers. In 2026, the "points-to-airdrop" model has matured into merit-based incentive programs that utilize Sybil-resistance and Proof-of-Humanity to filter out bots. Airdrops remain a primary method for decentralized governance (DAO) bootstrapping. Follow this tag for the latest on retroactive rewards, eligibility criteria, and how to participate in the most anticipated token distributions in the ecosystem.

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Created: 2026/02/02 18:52
Updated: 2026/02/02 18:52
Could BlockDAG, Toncoin or IPO Genie Win on Fundamentals?

Could BlockDAG, Toncoin or IPO Genie Win on Fundamentals?

The post Could BlockDAG, Toncoin or IPO Genie Win on Fundamentals? appeared on BitcoinEthereumNews.com. Crypto Presales This guide reviews top crypto comparisons for 2025 and checks which project shows stronger fundamentals. A direct look at BlockDAG, Toncoin, and IPO Genie $IPO helps. These three projects sit in different lanes but share one goal. Each wants strong fundamentals that can support long term value. The market now rewards real use cases more than hype. This is why simple fundamental checks matter. This article offers a fast walk through their core strengths. It covers utility, token design, tech depth, and risk. It also looks at presale structure, ecosystem maturity, and growth signals. You will also see how the IPO Genie Airdrop works. That pool carries up to $50,000/Tokens in rewards shared across 40 top participants. The focus stays firm on facts and clean insight. You also get one short mini table on IPO Genie presale stages. You get a larger comparison table at the end. This piece gives top crypto comparisons you can read in under two minutes without losing clarity or depth. Overview of BlockDAG, Toncoin, and IPO Genie BlockDAG built its story through strong presale attention. Many investors liked its early updates and fast release cycle. It grew through clear messaging and simple goals. This helped it gather traction during a busy market cycle. It offers a network with high speed focus and simple token use inside its ecosystem. Toncoin stands on deeper ground. It runs inside a live and active network linked to messaging traffic. It enjoys support from a wide user base. It shows strong ecosystem maturity with active tools and broad utility. It is not a presale but acts as a benchmark for real world performance. IPO Genie $IPO enters the market with a different angle. It leans into AI powered crypto investing and private market deal access. The project links…

Author: BitcoinEthereumNews

2025/11/23

3 Top Crypto Comparisons for 2025: Could BlockDAG, Toncoin or IPO Genie Win on Fundamentals?

3 Top Crypto Comparisons for 2025: Could BlockDAG, Toncoin or IPO Genie Win on Fundamentals?

A direct look at BlockDAG, Toncoin, and IPO Genie $IPO helps. These three projects sit in different lanes but share […] The post 3 Top Crypto Comparisons for 2025: Could BlockDAG, Toncoin or IPO Genie Win on Fundamentals? appeared first on Coindoo.

Author: Coindoo

2025/11/23

Weekly: Bitcoin Drops Below $81,000, New Crypto Regulation Deadline in Ukraine, and Fresh Threats to Ethereum

Weekly: Bitcoin Drops Below $81,000, New Crypto Regulation Deadline in Ukraine, and Fresh Threats to Ethereum

Incrypted editorial staff has prepared a digest of the most important events of the cryptocurrency industry for this week. In it – analysis of the market collapse, regulation of cryptocurrencies in Ukraine and a new deadline for the adoption of the bill, threats to Ethereum, development of artificial intelligence in Ukraine with the support of […] Сообщение Weekly: Bitcoin Drops Below $81,000, New Crypto Regulation Deadline in Ukraine, and Fresh Threats to Ethereum появились сначала на INCRYPTED.

Author: Incrypted

2025/11/23

Best Crypto Presale To Buy Now? Experts Break Down Key Factors When Investing In ICOs

Best Crypto Presale To Buy Now? Experts Break Down Key Factors When Investing In ICOs

Experts reveal the best crypto presale to buy now as Remittix leads a surge in ICO interest with strong audits, real utility, and major exchange momentum.

Author: Blockchainreporter

2025/11/23

Weekly Preview | Grayscale Dogecoin ETF and XRP ETF Launched; Singapore Exchange Derivatives Division Launches Bitcoin and Ethereum Perpetual Contracts

Weekly Preview | Grayscale Dogecoin ETF and XRP ETF Launched; Singapore Exchange Derivatives Division Launches Bitcoin and Ethereum Perpetual Contracts

Breaking News Preview: The Monad mainnet and MON token will be launched on November 24th; The Grayscale Dogecoin Trust ETF (GDOG) and Grayscale XRP Trust ETF (GXRP) will be listed on the Arca market of the New York Stock Exchange; The Singapore Exchange (SGX) derivatives division will launch perpetual contracts for Bitcoin and Ethereum on November 24. MegaETH will launch a pre-deposit cross-chain bridge on November 25th; Sentient airdrop registration is now open, and eligibility confirmation closes at midnight on November 30th. November 24 Policy and regulation: Grayscale Dogecoin ETF and XRP ETF will be listed on the NYSE on November 24. The Grayscale Dogecoin Trust ETF (GDOG) and Grayscale XRP Trust ETF (GXRP) will launch on the New York Stock Exchange Arca market on Monday, providing U.S. investors with an easy way to invest in DOGE and XRP through a regulated public market for the first time. Exchange: Binance Alpha will list Sparkle (SSS) on November 24th. Binance Alpha will list Sparkle (SSS) on November 24th. Eligible users can claim the airdrop using Binance Alpha Points on the Alpha event page after trading opens on Alpha. Further details will be announced later. The Singapore Exchange's derivatives division will launch cryptocurrency perpetual futures contracts on November 24. The Singapore Exchange (SGX) derivatives division will soon allow institutional investors to trade cryptocurrency perpetual futures contracts. SGX Derivatives announced on Monday that it will launch Bitcoin and Ethereum perpetual contracts on November 24, promising to combine the structure and credibility of the global derivatives market with the flexibility of popular cryptocurrency trading instruments. SGX's perpetual futures are benchmarked against the iEdge CoinDesk cryptocurrency index, ensuring alignment with a widely used benchmark for institutional price discovery. Project Updates: The Monad mainnet and MON tokens will launch on November 24th, with Anchorage Digital serving as the custodian. Monad announced that it will launch its Layer 1 blockchain and native token MON on November 24th at 9:00 AM ET, with Anchorage Digital as its preferred custodian. Institutional users can securely hold and stake MON through Anchorage's custody platform or the self-custodied wallet Porto. MON will be the first project launched on Coinbase's new public offering platform, with an initial circulating supply locked at 50.6%. November 25 Policy and regulation: The European Union will ban transactions of the A7A5 stablecoin, which is pegged to the Russian ruble, starting November 25. The European Union has imposed sanctions on A7A5, a stablecoin pegged to the Russian ruble. The 19th round of sanctions against Russia, announced Thursday, stipulates that transactions with A7A5 are prohibited from November 25th of this year. The A7A5 ruble stablecoin is issued by A7 Corporation, with its investor being the Russian Foreign Trade Bank (PSB). It is scheduled to launch in Kyrgyzstan in February 2025. It uses PSB deposits as reserves and is pegged to the Russian ruble at a 1:1 ratio. In August, the United States imposed sanctions on A7 Corporation and several related companies. Exchange: Binance Alpha will list Irys (IRYS) on November 25th. Binance Alpha will list Irys (IRYS) on November 25th. Eligible users can claim the airdrop using Binance Alpha Points on the Alpha event page after trading opens on Alpha. Further details will be announced later. Project Updates: Starknet v0.14.1 is scheduled to launch on the mainnet on November 25th. Starkware announced on the X platform that it is preparing to release a new version of Starknet, v0.14.1. This version will support faster block closing during periods of low activity and will deploy the BLAKE hash function (SNIP-34). It is expected to go live on the testnet on November 11 and on the mainnet on November 25. MegaETH will launch a pre-deposit cross-chain bridge on November 25th, with a total cap of $250 million. MegaETH will launch a pre-deposit cross-chain bridge on November 25th. All users who have completed the MEGA token public sale registration on the Sonar platform and do not reside in countries on the restricted list are eligible to participate in the USDm pre-deposit. Users can only participate using one wallet, and that wallet must have been verified on Sonar for the MEGA token public sale. Pre-depositors will receive relevant benefits from the rewards program. There is no upper limit to individual deposits, and deposits are processed on a first-come, first-served basis, but the total limit for the entire program is $250 million. After depositing, users will receive USDm directly in the same wallet address on the first day of the MegaETH mainnet launch, at a 1:1 ratio, without restriction or conditions. The eligible deposit asset is USDC on the Ethereum mainnet. Users cannot withdraw their deposits before the USDm is distributed and must wait for the USDm to be distributed on the MegaETH mainnet. Token unlocking: Plasma (XPL) will unlock approximately 88.89 million tokens at 9 PM Beijing time on November 25th, representing 0.89% of the total supply, worth approximately $18.1 million. WalletConnect Token (WCT) will unlock approximately 10.06 million tokens at 8:00 AM Beijing time on November 25th, representing 10.07% of the total supply and worth approximately $11.6 million. November 26 Exchange: Binance will support the Ethereum network (ETH) upgrade and hard fork on November 26, suspending deposit and withdrawal services on the Ethereum network. Binance will support the Ethereum network (ETH) upgrade and hard fork. To prepare for the upgrade and hard fork, Binance will perform maintenance on its Ethereum network (ETH) wallet at 14:00 (UTC+8) on November 26, 2025. To support this maintenance, Binance will suspend Ethereum network (ETH) deposits and withdrawals at 13:55 (UTC+8) on November 26, 2025. The maintenance is expected to take 1 hour, and deposits and withdrawals will automatically resume upon completion. In addition, the Ethereum network (ETH) will undergo a network upgrade on December 4, 2025 at 05:50 (UTC+8). Binance expects to suspend Ethereum network (ETH) token deposits and withdrawals at 05:45 (UTC+8) on December 4, 2025. Binance will launch spot trading pairs such as ACM/TRY and DODO/TRY on November 26. Binance will launch the ACM/TRY, DODO/TRY, HEI/TRY and XTZ/TRY spot trading pairs on November 26, 2025 at 20:00 (UTC+8), and will open trading bot services for these trading pairs. Naver's board of directors will confirm its plan to acquire Upbit's parent company, Dunamu, on November 26. Naver, South Korea's largest portal site, is expected to confirm its acquisition plan for Dunamu, the operator of Upbit, South Korea's largest cryptocurrency exchange, at its board meeting next week. Sources familiar with the matter revealed that Dunamu plans to hold a board meeting on November 26 to confirm the specific details of the acquisition. It is understood that Naver intends to proceed with a full share swap through its fintech subsidiary, Naver Financial, making Dunamu a wholly-owned subsidiary, a move aimed at expanding its business footprint in the digital finance sector. Project Updates: CoinList will launch its Reya public sale at midnight on November 26th. According to a CoinList announcement, the Reya token sale will launch on CoinList at 1:00 AM Beijing time on November 26 (5:00 PM UTC on November 25). Reya is a top-six perpetual contract DEX with a daily trading volume of $1-1.5 billion and is backed by Framework Ventures, Coinbase Ventures, and Selini Capital. The sale is valued at $150 million, with 50% unlocked via TGE, and will employ a bottom-up allocation mechanism, prioritizing smaller investors. Participation is not available in certain regions, including the United States and Canada. November 27 Exchange: BONK ETP, a subsidiary of Bitcoin Capital, will be listed on the Swiss Stock Exchange on November 27. Bitcoin Capital announced that its regulated BONK ETP will be listed on the SIX Swiss Exchange on November 27, 2025, providing European investors with an investment exposure that is pegged one-to-one to the Solana ecosystem's Meme coin, BONK. Coinbase will suspend trading of five tokens, including Clover Finance (CLV), on November 27. Coinbase will suspend trading of five tokens—Clover Finance (CLV), EOS (EOS), League of Kingdoms Arena (LOKA), Muse Dao (MUSE), and Wrapped Centrifuge (WCFG)—at 3:00 AM Beijing time on November 27. Token unlocking: Sahara AI (SAHARA) will unlock approximately 133 million tokens at 8:00 AM Beijing time on November 27th, representing 1.33% of the total supply, worth approximately $10.4 million. November 28 Token unlocking: Jupiter (JUP) will unlock approximately 53.47 million tokens at 12:00 PM Beijing time on November 28th, representing 0.76% of the total supply, worth approximately $12.5 million. November 29 None available November 30 Project Updates: Sentient airdrop registration is now open, and eligibility confirmation closes at midnight on November 30th. According to Sentient's official announcement, the $SENT airdrop registration portal is now open. Users must complete all account connections and uniqueness verification before 2:00 AM Beijing time on November 30th. This airdrop is open to four groups: community contributors, active Sentient Chat users, Top Voices social platforms, and external open-source researchers. The airdrop amount is not displayed; eligibility is only confirmed. Registration requires a one-time selfie verification via "Billions" to prevent Sybil attacks. Once submitted, no more accounts can be added. Crypto payment card provider Dupay announced it will cease operations on November 30. Crypto payment card provider Dupay has announced its shutdown, stating that due to unresolved compliance issues and obstacles to fund flow, it will officially terminate all services and shut down its servers on November 30, 2025. The announcement mentions that a large sum of funds previously frozen has not yet been unfrozen, and Dupay has already advanced the funds. Users who have not yet completed withdrawals should do so as soon as possible before the server shutdown; after that, they can still apply for manual processing via email. Centrifuge has completed the migration from WCFG to CFG. Users need to redeem their accounts themselves before November 30th. According to a Coinbase announcement, Centrifuge has migrated its ERC-20 token WCFG to the new token CFG. Coinbase will not automatically perform the migration for users; users must manually complete the exchange through the official Centrifuge migration portal before November 30, 2025. Self-custodied wallets such as Coinbase Wallet are supported.

Author: PANews

2025/11/23

Top 5 Crypto Presales Gaining the Most Hype Right Now – IPO Genie Leading the Surge

Top 5 Crypto Presales Gaining the Most Hype Right Now – IPO Genie Leading the Surge

Top 5 new crypto presales gaining real momentum in 2025. Discover why IPO Genie leads the hype with tokenised dealflow access and a 30% Black Friday bonus

Author: Blockchainreporter

2025/11/23

Top Crypto Presale 2025 Black Friday Reward Offers 30% Extra IPO Genie Tokens

Top Crypto Presale 2025 Black Friday Reward Offers 30% Extra IPO Genie Tokens

Grab an exclusive 30% bonus on $IPO tokens this Black Friday with IPO Genie’s 2025 crypto presale discount. Limited-time, one-time offer- secure your early-stage tokens now!

Author: Blockchainreporter

2025/11/23

Binance: Users who fail to claim their KO will receive a refund of their Alpha Points.

Binance: Users who fail to claim their KO will receive a refund of their Alpha Points.

PANews reported on November 23 that Binance announced that due to an airdrop system issue, some users who failed to claim the Kyuzo's Friends (KO) airdrop were incorrectly displayed with a "claimed" status. Binance Alpha will fully refund Alpha points to all affected users. There will be no point deduction for this claim, and affected users do not need to take any further action.

Author: PANews

2025/11/23

PA Daily Report | Monad public sale raised $269 million with 85,820 participants; Binance Alpha will list Irys (IRYS) on November 25th.

PA Daily Report | Monad public sale raised $269 million with 85,820 participants; Binance Alpha will list Irys (IRYS) on November 25th.

Today's top news highlights: 1. Macroeconomic Outlook for Next Week: The probability of a December rate cut has surged to 73%, and Powell's "stand-in" is closely monitoring the Beige Book. 2. Strategy: The amount of BTC held, based on recent prices, could meet the dividend needs for 71 years. 3. Tom Lee: Strategy, holding 650,000 Bitcoins, has become the preferred hedging strategy in the market. 4. Port3 Network suffered a 77.4% plunge in 24 hours after hackers exploited the BridgeIn vulnerability to issue new tokens. 5. Monad: The MON token sale on Coinbase has ended, with 85,820 participants investing $269 million. 6. A new wallet, suspected to belong to Bitmine or SharpLink, transferred $60.04 million in ETH from FalconX. The 7.1inch team withdrew 6.01 million 1INCH tokens from Binance within 13 hours, worth $1.072 million. Macro Macroeconomic Outlook for Next Week: The probability of a December rate cut has surged to 73%, and Powell's "stand-in" is closely monitoring the Beige Book. The situation in the cryptocurrency market was even worse this week. At the time of writing, Bitcoin was trading around $83,000, down 35% from its all-time high of $126,000, almost completely erasing its gains since April. This week, the "king of crypto" fell 18%, its strongest weekly drop since mid-November 2022. November is expected to record its worst monthly performance since the market correction in June 2022. Here are the key points the market will be focusing on in the coming week: At 23:30 on Monday, the Dallas Fed Business Activity Index for November will be released. At 21:30 on Tuesday, the US September retail sales month-on-month rate and the US September PPI will be released. At 23:00 on Tuesday, the US Conference Board Consumer Confidence Index for November will be released. At 21:30 on Wednesday, the number of initial jobless claims in the United States for the week ending November 22 will be released. For the United States, next week will not be too busy due to the Thanksgiving holiday, which means that data will be concentrated in the first three days of this week. The Trinidad and Tobago Parliament passed a crypto regulatory bill aimed at regulating cryptocurrencies and related service providers. According to Crowdfund Insider, citing local media reports, the Trinidad and Tobago parliament has passed a bill aimed at regulating cryptocurrencies and related service providers. The "Virtual Assets and Virtual Asset Service Providers Act 2025," first introduced by the finance minister in September, establishes a framework for the licensing and regulation of virtual asset activities in the Caribbean nation. The bill, first introduced by the finance minister last September, is closely linked to Trinidad and Tobago's need to meet anti-money laundering and counter-terrorism financing standards ahead of the fifth round of mutual assessments by the Caribbean Financial Action Task Force (CATF), including an on-site review scheduled for March 2026. The Hong Kong Securities and Futures Commission (SFC) has added "AmazingTech" to its list of suspicious virtual asset trading platforms. The Hong Kong Securities and Futures Commission has warned the public to be wary of a virtual asset trading platform called "AmazingTech" and has added it to its list of suspicious virtual asset trading platforms. The platform claims to operate a virtual asset trading platform in Hong Kong and is suspected of engaging in unlicensed activities. Opinion The Coinbase Bitcoin Premium Index has been negative for three consecutive weeks, indicating significant selling pressure in the US market. According to CryptoQuant data, the Coinbase Bitcoin Premium Index has remained negative for three consecutive weeks since it turned negative on October 31. The premium index is positive when the price of Bitcoin on Coinbase is higher than the global average price, and negative otherwise. The current trend indicates that there is significant selling pressure in the US market and investors' risk appetite is declining. Glassnode Co-founder: Bitcoin ETFs continue to generate net profits; cost base remains undamaged. Negentropic, co-founder of Glassnode, published an article on the X platform pointing out that what is happening to Bitcoin now is not a narrative shift, but rather a mechanism-based "buffering." Currently, ETFs are still maintaining net profits, and the cost base has not been damaged. Although some long-term holders are selling, the Solana ETF is experiencing stable inflows, and altcoins are performing better than BTC and ETH. Furthermore, the overall cyclical structure remains intact, with strong demand for ETFs and spot trading, and the macroeconomy generally maintaining a neutral to bullish stance. The market has not surrendered, and the trend has not been broken. When the decline finally exhausts, the rebound may be much larger than the previous drop. Strategy: The BTC holdings, based on recent prices, could meet the dividend needs for 71 years. Bitcoin treasury firm Strategy posted on the X platform that, based on recent prices, its current holdings of approximately 650,000 BTC are sufficient to cover dividends for 71 years. It also noted that if Bitcoin appreciates by about 1.41% annually, the resulting returns would be enough to pay the full year's dividends. However, the community points out that Strategy's data is based on several assumptions, including a stable Bitcoin price, all holdings being available for sale or as collateral for financing, no external shocks or tax impacts, a continuously manageable convertible debt structure, and stable dividend payments. Tom Lee: Strategy, holding 650,000 Bitcoins, has become the preferred hedge in the market. In an interview with CBDC, Bitmine Chairman and CEO Tom Lee stated that due to the limited number of on-chain options, MSTR has become the preferred tool for cryptocurrency investors to manage risk. Institutional cryptocurrency investors used Strategy (MSTR) stock to hedge losses, causing the stock to fall by 43%. Tom Lee believes that Strategy holds a large amount of Bitcoin (650,000 coins), with liquidity far exceeding that of BTC and ETH derivatives. Therefore, when crypto liquidity dries up and market makers suffer losses, institutions are unable to effectively hedge on-chain and can only short MSTR to hedge against losses in Bitcoin and Ethereum. Tom Lee also points out that the market mechanism of cryptocurrencies remains fragile, and Strategy's use as a hedging tool indicates a deeper structural problem. Yi Lihua: I went all in on ETH around $2700, and also hold BNB and ASTER. Liquid Capital founder Jack Yi posted on the X platform, "ETH traded around $2700, and this time I'm fully invested. My overall portfolio has always followed the logic of three major sectors: ETH as the main public chain, with BTC/BCH also allocated. The trading platforms are BNB/Aster. My heavy holding in stablecoins is WLFI, which is equivalent to USD1 in BNB, and USD1 is the only stablecoin with the potential for a leapfrog development. I can't pay attention to too many projects; I'm focusing on the leaders in the three major sectors, and I'll leave the rest to time." Project Updates Port3 Network was hacked, who exploited the BridgeIn vulnerability to issue new tokens, causing Port3's stock to plummet 77.4% in 24 hours. Decentralized AI data network Port3 Network stated on the X platform that a hacker exploited a BridgeIn vulnerability to issue additional tokens. The team has removed liquidity and is prepared to communicate with the hacker. Port3 Network advises users not to trade tokens until the issue is resolved. Market data shows that the PORT3 token has fallen 77.4% in the past 24 hours. Hackers exploited a PORT3 bridging vulnerability to issue 1 billion new tokens and then dump them, while destroying the remaining 837 million tokens. According to on-chain analyst Yu Jin, three hours ago, a hacker exploited a PORT3 bridging vulnerability to mint 1 billion $PORT3 tokens, which were then sold on-chain, causing $PORT3 to drop by 76%. The hacker sold a total of 162.75 million tokens, receiving 199.5 BNB (US$166,000). Subsequently, the PORT3 project removed on-chain liquidity, and some centralized exchanges suspended PORT3 deposits. Unable to continue selling tokens, the hacker destroyed the remaining 837.25 million PORT3 tokens 40 minutes ago. Cardano experienced a brief chain split on Friday due to a vulnerability in its old code; the founder stated that the FBI has launched an investigation. The Cardano network experienced a temporary split on Friday due to a "malformed" delegation transaction. This type of transaction, which delegates ADA to a staking pool, while valid at the protocol level, can lead to code glitches that affect network functionality. According to an incident report released by Intersect, an organization within the Cardano ecosystem, this "malformed" transaction exploited an old code vulnerability in the Cardano blockchain's underlying software library. This vulnerability caused disagreements among nodes regarding how to process the transaction, ultimately leading to a network split. The vulnerability was caused by an ADA staking pool operator named Homer J, who used AI-generated code to drive the transaction and has acknowledged responsibility for the network split. Staking pool operators have been instructed to download the latest version of their node software to fix the issue and reassemble the split chain into a single, complete blockchain. This temporary split has sparked debate within the Cardano community. Some believe Homer J's actions helped expose critical vulnerabilities, while others, such as Cardano founder Charles Hoskinson, claim it was an attack on the Cardano network, and the FBI has launched an investigation. One user quipped, "Nobody noticed the Cardano network partition because nobody was using it." Monad: The MON token sale on Coinbase has ended, with 85,820 participants investing $269 million. Monad announced on the X platform that the MON token sale on Coinbase has ended, with 85,820 participants investing a total of $269 million. The mainnet will launch on Monday. Binance Futures will delist PORT3USDT U-margined perpetual contracts. According to the official announcement, Binance Futures will automatically liquidate the PORT3USDT U-margined perpetual contract at 14:30 (UTC+8) on November 23 , and will delist the aforementioned perpetual contract trading pair after the liquidation is completed. Binance Alpha will list Irys (IRYS) on November 25th. According to the official announcement, Binance Alpha will list Irys (IRYS) on November 25th. Eligible users can claim the airdrop using Binance Alpha Points on the Alpha event page after trading opens on Alpha. Further details will be announced separately. Binance: Holders of over 256 Alpha Points can claim a 640 Kyuzo's Friends (KO) airdrop. According to the official announcement, Binance Alpha will open trading of Kyuzo's Friends (KO) on November 23, 2025 at 17:00 (UTC+8). Users holding at least 256 Binance Alpha Points can claim an airdrop of 640 KO tokens on a first-come, first-served basis. If the reward pool is not filled, the claim threshold will automatically decrease by 5 points every 5 minutes. Claiming the airdrop will consume 15 Binance Alpha Points. Users must confirm their claim on the Alpha event page within 24 hours, otherwise they will be deemed to have forfeited their claim. Important data The 1inch team withdrew 6.01 million 1INCH tokens from Binance within 13 hours, worth $1.072 million. According to on-chain analyst Ai Yi, in the past 13 hours, 1inch Team Investment Fund withdrew 6.01 million 1INCH from Binance, worth $1.072 million, at an average withdrawal price of $0.1785. Currently, it holds 1INCH worth $16.97 million, but its top holding remains ETH ($26.6 million). This week, NFT transaction volume fell 4.21% to $74.2 million, while the number of sellers surged 106%. CryptoSlam data shows that NFT market transaction volume fell 4.21% to $74.2 million in the past week. The number of NFT buyers increased by 34.03% to 328,255; the number of sellers surged by 106% to 284,166 ; and the number of NFT transactions decreased by 12.67% . Ethereum network transaction volume reached $31.93 million, down 3.81% from the previous week; BNB Chain network transaction volume reached $8.74 million, down 0.01%; Mythos Chain network transaction volume reached $6.96 million, up 5.28%. This week's high-value deals include: CryptoPunks #9816 sold for $174,826.39 (58 ETH). CryptoPunks #3661 sold for $148,102.05 (47 ETH). CryptoPunks #8739 sold for $122,164.40 (39.99 ETH). CryptoPunks #4241 sold for $112,516.20 (35.49 ETH). CryptoPunks #5666 sold for $110,789.94 (34.5 ETH). An address deposited 8,920 ETH into Binance; selling them would result in a loss of $2.12 million. According to on-chain analyst Ai Yi, address 0x29F...335EF deposited 8,920 ETH (approximately $24.85 million) into Binance in the past hour. This ETH was withdrawn from the exchange between March 2024 and February 2025 at an average price of $3,024. Selling it now would result in a loss of $2.12 million. After this deposit, the address's wallet has only 0.04238 ETH remaining, almost completely liquidated. Institutional holdings A new wallet, suspected to belong to Bitmine or SharpLink, transferred $60.04 million worth of ETH from FalconX. According to Onchain Lens monitoring, a newly created wallet received 21,537 ETH from FalconX, worth $60.04 million. This payment may belong to Bitmine or SharpLink, but this has not yet been confirmed.

Author: PANews

2025/11/23

A glimpse into the latest developments of mainstream Perp DEXs: What big things are they up to?

A glimpse into the latest developments of mainstream Perp DEXs: What big things are they up to?

Written by: Jaleel Jia Liu, BlockBeats Although the entire crypto market seems to have returned to a "bear market," the enthusiasm for new sectors has not diminished much. Especially in the derivatives sector, Perp DEX, many traders and community users are focusing more on high-frequency, structured, and points-based perpetual markets. This is why Perp DEX, which has not yet issued its own token, can still achieve amazing results in a sluggish environment. This momentum will see a concentrated surge in December: two top-tier DEXs that haven't yet launched their own tokens will soon undergo TGE (Transactions Exclusive). Will they be able to replicate the frenzy surrounding Aster's launch, or even replicate that phenomenal market performance? Many users, including myself, are eagerly anticipating it. BlockBeats has compiled a list of the top-perp DEXs by trading volume and the most talked-about topics, summarizing their key events and developments over the past two to three weeks to help everyone gain a deeper understanding of the PerpDEX sector. edgeX: Seal Meme is here! 1. Community Memecoin Seal $MARU Arrives The most talked-about thing about edgeX has to be the launch of its community memecoin, $MARU. This token, modeled after edgeX's seal mascot, attracted a lot of attention as soon as it was announced. The total supply is 10 billion tokens, and the expected launch date is after the Open Season ends, which is after December 3rd. 70% of the total supply will be directly allocated to airdrops and ecosystem incentives, 20% will be used for the liquidity pool (unlocked upon launch for easy trading), and the remaining 10% will be reserved for core contributors (fully locked for long-term incentives). How do you obtain $MARU? There are two main channels: The first is Open Season Points, which is also the primary channel. These points will be converted into $MARU airdrops after December 3rd. It's important to note that the platform has minimum trading volume requirements, and wash trading will be identified and penalized. The weighting for earning points is as follows: Trading perpetual contracts: weighted at 60%, they constitute the majority of points; Referral bonus: 20% weighting; TVL/Liquidity Provision: Weighting 10%; Positions/Liquidation: Weighted at 10%; Secondly, there's the creator activity, which can be simply understood as Kaito's way of earning rewards by creating content. There are many forms of tweets: create tweets, videos, memes, etc., and tag @edgeX_exchange. Original, high-quality content that has been officially selected (AI-generated content does not count; supports multiple languages including English, Chinese, Korean, and Japanese) will have the opportunity to share a prize pool of 500,000 USDT + 20 million MARU. Some users have already seen the temporary rewards (such as 21,370 MARU + 464 USDT) on the dashboard. You can claim the USDT first, and the MARU will be distributed after the official launch. 2. EdgeX Messenger upgrade Somewhat related to the previous point is the edgeX Messenger upgrade. Announced on November 13th, this plan aims to transform edgeX Messenger from a simple communication tool into a global DeFi collaboration hub. Core focus: Providing a collaborative platform for traders and influencers; deep integration with the $MARU incentive mechanism. In short, the goal is to create a platform that integrates a trader community, content creation, and an incentive mechanism. 3. edgeXFlow Ecosystem Launch On November 19th, edgeX made another big move: launching the edgeXFlow ecosystem. In short, edgeXFlow is a new modular execution layer that operates in parallel with the existing StarkEx. Technical specifications: Execution latency: <10ms; Order processing capacity: 200,000 orders/second; ZK proof guarantees transparency, etc. The first partner was Ave.ai, and the two jointly launched the XPIN trading campaign (November 19-26). The design of this campaign was quite interesting—it wasn't just a traditional PnL competition, but adopted a hybrid incentive model: tiered airdrop rewards based on trading volume; a leaderboard with 200 slots (expanding the scope of winners); and a 1.1x edgeX points bonus. edgeX has ambitious goals, aiming to integrate 30 ecosystem partners by Q2 2026. It seems they intend to expand this infrastructure and establish it as an industry standard for modular execution layers. 4. Points Countdown The Open Season is now in its final countdown! We're currently in weeks 20-24, with an estimated 2-4 weeks left until the end. In recent weeks, 300,000 points have been distributed weekly, covering 13,000-14,000 addresses. According to calculations by influential figures in the community, assuming edgeX's revenue is approximately 16% of Hyperliquid's, if the total FDV reaches around $2-7 billion during TGE, the value per point could be between $30 and $300. Of course, this is just an estimate, and the actual value will depend on market conditions. The current probability of edgeX's FDV on the first day of launch on Polymarket is as follows: 5. Established a strategic partnership with Polymarket This is also quite a big piece of news. Yesterday, edgeX announced a strategic partnership with Polymarket: Polymarket's prediction scenarios will be seamlessly integrated into the edgeX mobile app; users can participate in event prediction with one click; and the two parties will jointly develop innovative leveraged prediction products. Since the news was announced yesterday, there are no more details yet, but we can keep an eye on future developments. It is expected that the products that will be co-developed and incubated will be one of the key projects in the edgeXFlow ecosystem. Lighter: Raised 68 million, valued at 1.5 billion. 1. Major Financing On November 11th, Lighter announced the completion of a $68 million funding round, instantly becoming a DeFi unicorn. The lineup of investors in this round was quite impressive: Financing details: Amount: US$68 million (equity + token subscription rights) Valuation: $1.5 billion (post-valuation) Lead investors: Founders Fund (Peter Thiel), Ribbit Capital Investors: Haun Ventures, Robinhood (a rare instance of a brokerage VC participating in the investment) Total funding: Approximately $90 million (including $21 million raised in 2024, led by Haun/Craft). There are several noteworthy aspects to this round of financing: First, the investor lineup is top-tier. Founders Fund is one of the top VCs in Silicon Valley, and Robinhood, as a brokerage firm, is directly investing in perp DEX, which is rare in the industry, indicating that traditional finance is increasingly recognizing decentralized derivatives. Secondly, the founder has an impressive background. Novakovski is a legendary figure—he entered Harvard at 16, graduated at 18, and was personally recruited by Ken Griffin, the founder of Citadel. He later worked as an engineer and trader at several financial institutions for nearly 15 years. Joey Krug, a partner at Founders Fund, stated frankly that 85%-90% of the reasons for investing were due to founder Vladimir Novakovski and his team. 2. The only DEX with a daily trading volume exceeding 10 billion. Lighter's recent growth data is quite explosive. 24-hour trading volume: approximately $7.9-11.2 billion (fluctuates depending on the time period, and was once the only DEX to break through $10 billion). TVL: Approximately US$1.15 billion (a 2,000-fold increase in 6 months! From approximately US$500,000 at the end of March); Positions held: Over $17 billion; L2 Ranking: It has risen to the top ranks of the Ethereum L2 protocol and is considered the first native perp DEX on Ethereum; However, some analysts have pointed out concerns: Lighter's trading volume/open interest ratio once reached 27 (the industry healthy value is usually ≤5), suggesting that some trading volume may have come from wash trading driven by points incentives. Wash trading before TGE is a characteristic of the industry. We may soon know Lighter's true trading volume after TGE. But considering the platform has just graduated from beta, its overall performance is still very impressive. 3. Oracle integration + RWA extension, targeting traditional financial assets. Lighter recently announced a partnership with Chainlink to integrate real-time oracle data, officially expanding into the real-world asset (RWA) derivatives space. Supported asset classes include: commodity futures contracts (gold, crude oil, etc.); stock index derivatives; foreign exchange trading pairs; and other real-world assets. In addition, since RWA price sources are not available 24/7 (for example, gold and stocks only have prices during trading hours), Lighter has also made some special arrangements: during non-trading hours, it enters a "margin reduction only" mode, where users can only submit margin reduction orders; funding rates continue to be calculated normally during non-trading hours; the RWA market only supports segregated margin mode (considering its experimental nature and volatility); and a dedicated XLP (experimental liquidity provider) pool has been set up to provide liquidity to the RWA market, which is segregated from the main pool LLP. Hyperliquid: The Joys and Sorrows of a King 1. HIP-3 upgrade, transaction fees reduced by 90% On November 19, Hyperliquid released a major upgrade: HIP-3 Growth Mode. HIP-3 itself allows anyone to deploy their own perpetual contract market on Hyperliquid permissionlessly by staking 500,000 HYPE tokens. This "growth model" is a further optimization based on HIP-3—specifically providing ultra-low fee incentives for new markets. Key changes include: Taker fees have plummeted by over 90%, from 0.045% to 0.0045%-0.009%; high-staking users will benefit even more, with fees as low as 0.00144%-0.00288% if they reach the highest staking and trading volume levels; rebates and trading volume contributions can be reduced by over 90% simultaneously, and so on. However, to prevent "parasitic trading volume," growth model markets have some exclusion rules: they cannot include BTC or existing validator-operated markets, cryptocurrency baskets/ETFs, synthetic price indices, or any assets that duplicate existing markets (for example, gold already has PAXG-USDC). The purpose of this upgrade is clear: to lower the barrier to entry for new markets. New markets often start with few traders and low liquidity, and a 90% fee discount can effectively attract early users, further helping Hyperliquid to evolve from "a PerpDEX" into a "permissionless financial infrastructure layer." 2. Yet another whale has "arrived at the same destination by different paths". Celebrity trader Andrew Tate recently lost all his money on Hyperliquid and has been jokingly referred to as "Hyperliquidated". According to Arkham on-chain data, Andrew Tate's liquidation can be traced back to almost a year ago. On December 19, 2024, there was a collective liquidation of long positions in BTC, ETH, SOL, LINK, HYPE, PENGU, and other cryptocurrencies. On November 18th, when BTC fell below $90,000, Andrew Tate's last remaining position was liquidated, leaving his account with zero. This instantly became meme material, given his frequent self-proclaimed status as a financial guru. One analyst listed him as "one of the worst traders in crypto history," alongside other big players who lost a lot of money on Hyperliquid (James Wynn lost $23 million, Qwatio lost $25.8 million, and 0xa523 lost $43.4 million in one month). 3. POPCAT manipulation attack On November 12, Hyperliquid suffered its second major attack this year, the first being XPL, and this time the target was memecoin POPCAT. The attacker withdrew 3 million USDC from OKX and distributed it across 19-26 new wallets. They then opened approximately $20-30 million in leveraged long positions in POPCAT on Hyperliquid (around 5x leverage), followed by placing approximately $20 million in buy orders at the $0.21 price level to create a false impression of strong demand. Other traders, seeing the buy orders, assumed there was support and followed suit by going long. The attacker suddenly withdrew the buy orders, causing the POPCAT price to plummet from $0.21 to $0.13. Ultimately, a large number of leveraged long positions were liquidated, with at least 26 accounts losing a total of $25.5 million in positions and $2.98 million in margin. HLP was forced to absorb $4.9 million in bad debts. The strange thing about this attack is that the attackers themselves also lost $3 million, suggesting it wasn't for profit. There are two main speculations in the community regarding this: One is that the attack was purely a "stress test" to damage Hyperliquid's reputation, with Binance/CZ being the primary suspect. The other is that the attackers opened hedging positions on centralized exchanges, thus profiting overall; on-chain analysis points to BTX Capital, but founder Vanessa Cao has denied involvement. Aster: Spending money while simultaneously buying back shares 1. Phase 4 "Aster Harvest" airdrops 120 million ASTERs. On November 10th, Aster officially launched its fourth phase of airdrops, codenamed Harvest. The distribution size was 120 million ASTER (representing 1.5% of the total supply) over a period of 6 weeks (November 10th - December 21st), distributed at a rate of 0.25% per week, evenly distributed across 6 epochs. Compared to previous phases (S2 received 4%, S3 received 2.5%), the distribution ratio in S4 has indeed shrunk. However, community analysis suggests that due to the potential decrease in the number of participants, the returns per user may actually be higher, and the halving could potentially drive up the token price. Here are a few tips for earning more points at this stage: $ASTER can be used as collateral for perpetual contracts, and you can earn extra points by using $ASTER as collateral for contracts; you get a 5% discount on transaction fees when paying with $ASTER; spot trading is also eligible for points; another is anti-scalping measures, as Aster now emphasizes quality trading and has set up maker order and symbol accelerator multiplier mechanisms to try to filter out wash trading behavior. 2. A $10 million trade contest: "Double the fish" On November 17, Aster launched its largest trading competition in history: a total prize pool of $10 million. The competition is divided into five weekly phases (running until December 21), with each phase having its own leaderboard. The first phase has a prize pool of $1 million, which can reach up to $2 million per week. There are 1,000 winning slots per phase. Only perpetual contract trading is allowed, and rankings are based on trading volume and PnL. The biggest feature of this trading competition is the "double win" principle, meaning the same trade can be counted in both the competition and the S4 airdrop. For example, top players can earn up to $300,000 in a single week, and if they dominate the leaderboard for five consecutive weeks, they could theoretically earn $1.5 million. 3. The repurchase agreement continues to advance. Aster's buyback program is considered quite aggressive within the perp DEX sector. As of November 13th, the cumulative buyback amount was approximately $214 million; the number of tokens bought back represented 7.11% of the circulating supply. CZ recently placed an order to buy over $2 million worth of ASTER, triggering speculative demand; in addition, market makers such as Wintertermute are also quietly increasing their holdings, so some analysts predict that ASTER may rise to $10. However, some in the community have expressed concerns: ASTER still has approximately 6.35 billion tokens locked, and their future unlocking could lead to selling pressure. An estimated $700 million worth of tokens are still awaiting unlocking before 2026. The recent fluctuations in the unlocking schedule have caused some panic. However, the official team has stated that the unlocking schedule will not be changed. 4. "Machi Mode" function This might be the most interesting new feature launched by Aster. On November 19th, Aster announced the launch of "Machi Mode," where liquidated users can receive points as a reward, essentially giving traders who lost money a "consolation prize." Why is it called Machi Mode? It's a joke about the well-known trader Jeffrey Huang, who is known in the trade community as "Machi Big Brother". According to Lookonchain data, since November 1st, the three largest holders on Hyperliquid who have been liquidated the most times are: Machi Big Brother—71 liquidations; James Wynn—26 liquidations; and Andrew Tate—19 liquidations. Machi is far ahead of the pack, arguably the unluckiest "King of Liquidation." He once lost over $53 million in a single month, and his trading style is known for its extremely high leverage and aggressive positions. Aster naming this feature after him is, in a way, an embrace of the degen culture within the crypto world. other In addition, I'd like to share some recent updates on two other Perp DEXs that I follow closely, both of which have yet to issue their own tokens. 1. Pacifica On November 12, Pacifica announced the launch of the TIF=TOB (Time in Force = Top of Book) order type. Simply put, when you submit a post-only limit order, if the price is set too aggressively, it will penetrate the order book (i.e., be executed immediately). The traditional approach is to cancel the order. However, TIF=TOB will not cancel it; instead, it will automatically move your order to the top of the order book. For example, suppose the current best bid price (Bid) for BTC is $100,000, and the best ask price (Ask) is $100,100. If you submit a TOB buy order at $100,200 (which will penetrate the Ask), the system will automatically adjust your order to $100,099—just below the best ask price, placing it at the top of the new order book. This is a very useful feature for market makers. Pacifica has now become one of the most important projects on the Solana blockchain. 2. Variational Another example is Variational, the Perp DEX, which played a significant role in Arbitrum's DeFi revival strategy. Its key features include: an automated listing engine that eliminates coordination delays through OLP's internal market making, currently supporting 515+ tokens, making it the DEX with the most listed tokens; the protocol itself acts as a market maker, with hedging costs of only 0-2 basis points, and users paying a spread of 4-6 basis points, achieving an annualized return of over 300% at one point. It also offers loss compensation: cumulative refunds have exceeded $2 million, covering over 70,000 transactions and benefiting over 6,500 users, with the highest single refund exceeding $100,000, accounting for approximately 2% of the platform's total losses. On November 15th, over $1 million in rewards were retrospectively distributed; on November 17th, a retail sentiment index tool was launched, showing that 89% of trading volume came from the long tail market. Overall data growth is very rapid. A points-based competition is not yet available, but retrospective trading volume tracking may be implemented later.

Author: PANews

2025/11/23

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