分类： Market

• Solana dropped to lows of $125 amid a sharp sell-off across cryptocurrencies.
• The drop in SOL price sees bulls risk reaching to $100 mark.
• Solana spot ETFs continue to notch inflows.

Solana has come under sharp pressure over the past week, sliding to about $125 after an 11% decline in the past 24 hours.

The sell-off reflects broad weakness across digital assets as Bitcoin’s retreat, driven by global risk-off sentiment, filtered through to the altcoin market.

By early Friday, Nov. 21, CoinMarketCap data showed no top-100 cryptocurrency trading in positive territory, underscoring the depth of the correction and the absence of near-term risk appetite.

Injective, Dash and NEAR were among biggest losers, while Ethereum, XRP and Solana all hovered in the double-digit loss bracket.

Ethereum slumped below $2,700 and XRP to under $1.9

Here’s why Solana price is dumping

Solana’s sharp slide toward the $125 area reflects a broader market pullback driven by a mix of macroeconomic headwinds and a clear technical breakdown.

One of the big triggers is renewed uncertainty surrounding US Federal Reserve interest rate decisions.

Bitcoin, the bellwether of the crypto sector, dipped to lows of $82,000. It dragged altcoins like Solana into the bloodbath.

According to market data, SOL’s 24-hour trading volume surged by 42% to over $9.63 billion.

Alongside the price slide, the jump in trading volume pointed to panic selling as markets reacted to developments ahead of the upcoming FOMC meeting.

Expectations for a December rate cut have fallen sharply to 31%.

The shift follows an announcement from the US Bureau of Labor Statistics that no October jobs report will be released, while the November report will arrive only after the FOMC decision, leaving policymakers and investors without two key labor readings at a critical moment.

According to Lark Davis, the move means Fed chair Jerome Powell “will be flying blind into the FOMC meeting.”

This has the market jittery as investors bet the Fed will look to play it safe by leaving rates unchanged.

SOL ETFs see inflows despite price dip

Despite price declines, Solana spot ETFs continue to see inflows. Data shows the market kept the streak going even as SOL dumped.

On Nov. 20, as Bitcoin spot ETFs saw over $903 million in outflows and Ethereum spot ETFs notched over $260 million in redemptions, Solana remained positive.

According to SoSoValue data, investors poured a fresh $23.6 million in inflows into SOL ETFs, bringing net inflows to over $499 million.

The big question is whether confidence in Solana via ETF products could translate into a boost for bulls.

If prices fall further, the main support area could be around the psychological $100 mark.

• Binance ecosystem’s native coin BNB, is amongthe  top losers in the crypto market today.
• The altcoin has seen bears push prices to near $800.
• As altcoins mirror Bitcoin, the BNB price could plummet well below the intraday lows.

BNB is under pressure as a broader market downturn puts the token near the $800 support level.

With market turmoil likely to trigger further losses amid profit taking and heightened risk aversion, the BNB price could risk extending the dip across the past month beyond -24%.

Meanwhile, the total crypto market capitalization is down by 9% to below $2.9 trillion.

The global daily volume is up 43% to over $256 billion as Ethereum, Solana and other tokens plummet.

Another leg down could be bad news for BNB.

BNB price performance today

BNB’s intraday volatility has been stark.

After the token opened at around $866, bulls briefly managed a retest of $904.

However, intensified selling across the market triggered fresh selling to extend losses seen on Thursday.

The nearly 10% dip saw BNB price hover to lows of $805.

Meanwhile, daily trading volume surged 49% to over $4.39 billion, a metric that signalled increased selling pressure.

This breaching of crucial support levels adds to the vulnerability that has built since the token’s plunge below the psychological $1,000 mark.

In the past 24 hours, crypto traders have witnessed a brutal liquidation cascade.

Over $2 billion in leveraged positions have been wiped out, and while Bitcoin and Ethereum lead, a notable portion is across BNB bets.

Data from Coinglass reveals $8.3 million in liquidations for BNB.

BNB price falls after ecosystem hack

On Nov. 20, the BNB Chain ecosystem suffered a setback.

Per blockchain security platforms, the Binance platform saw the decentralized payment finance protocol GANA Payment fall victim to a sophisticated exploit.

The result – a $3.1 million drain from its contracts and liquidity pools.

The BNB token fell amid crypto market reaction to the news.

Further weakness linked to macroeconomic fears combined with a technical breakdown to extinguish the bulls’ glimmer of hope.

The bounce to $903 suggests not all is bleak, but to lift the lid of gloom, buyers have to take control.

Binance coin price outlook

Given Relative Strength Index is at 27 on the daily chart, it signals oversold conditions.

However, the downsloping outlook of the RSI indicates there’s room for bears to dominate further.

The Moving Average Convergence Divergence, or MACD, also paints a bearish picture.

As with the RSI, momentum from the MACD signals bull exhaustion after the bearish crossover on October 14, 2025.

The daily chart shows buy-side pressure buoyed bulls, but the indicator’s potential bullish crossover failed to validate.

Invalidation risks now include a decisive RSI plunge below 30. The MACD indicates pullback continuation.

Broader market liquidity issues could allow sellers to break below $800.

On the flipside, a bounce will bring $900 into play and potentially a return to above $1,000.

• Bitcoin trades near $92K amid mixed signals from ETFs and tech markets.
• Hoskinson and Saylor predict a strong BTC rebound despite recent losses.
• ETF outflows and macro risks could, however, push BTC toward $85K support.

While Bitcoin price has recovered from the low of $88,540 hit on November 19, the question is whether it will hit a higher high than the $93,403 registered on November 18.

Some analysts believe BTC is preparing for a deeper slide, while others insist a powerful rebound is already forming beneath the surface.

At press time, BTC price was around $92,237 and already showing signs of exhaustion, which would spell doom since it formed a lower low on November 19, which is a bearish sign.

Bullish calls grow despite the slide

At $92,237, Bitcoin (BTC) is reeling from a bruising stretch that has erased more than $33,000 from its value in under two months.

Notably, today’s uptick follows a pause in ETF outflows and a rebound in tech stocks, driven by Nvidia’s stronger-than-expected earnings.

While the market remains on edge as macro uncertainty and shifting liquidity conditions continue to pressure risk assets, Cardano founder Charles Hoskinson remains one of the strongest voices calling for a major rebound.

During CNBC’s Squawk Box show on Tuesday, Hoskinson argued that Bitcoin’s recent losses reflect broader macro distortions, including tariff tensions, recession risks, and uneven regulatory signals.

Hoskinson believes these forces will ease in the coming months.

He expects BTC to recover sharply and potentially hit $250,000 within the next year, projecting that institutional adoption and large-scale tokenisation will redefine market cycles.

Michael Saylor shares a similar level of confidence, viewing the current downturn as typical of Bitcoin’s long-term behaviour.

The MicroStrategy executive says the company is built to withstand extreme drawdowns, calling his position “indestructible” in a recent interview with Fox Business.

₿etter than Ever. Today I was the warm-up act for @natbrunell as we both talked Bitcoin with @cvpayne. You’ll want to hear what she had to say. pic.twitter.com/vDaFceyeza

— Michael Saylor (@saylor) November 18, 2025

Notably, Saylor has continued to buy BTC even as volatility increases, reinforcing his view that deep corrections are part of the broader path toward higher valuations.

ETF activity has also become a pivotal factor.

The BlackRock Bitcoin ETF posted a record $523 million daily loss on November 18 following a streak of outflows across the spot Bitcoin ETF landscape.

The Bitcoin ETFs outflow seems to have stabilised, with IBIT seeing $60M worth of inflows on November 19.

Analysts warn that sustained inflows will be essential if Bitcoin hopes to avoid a retest of this week’s lows.

Bearish risks still loom

Not all signals point upward. Some traders see a real chance BTC could break below key support levels near $90,000.

If the market fails to hold this support, prediction platforms indicate rising expectations of a drop toward $87,000.

ETF outflows totalling more than $3 billion this month highlight lingering caution, and many retail participants remain hesitant after weeks of drawdowns.

Macro conditions remain complicated.

Expectations of Federal Reserve rate cuts have faded, while recession concerns are resurfacing due to weak jobs data and ongoing trade friction.

These pressures have limited upside momentum even as Nvidia’s tech rally briefly boosted risk appetite.

Despite the uncertainty, Bitcoin continues to trade like a high-beta asset tied closely to broader market sentiment, and the next few days may determine whether buyers regain control or whether sellers will test new lows.

• The upgrade introduces unified Liquidity Hubs to replace fragmented markets.
• Spokes introduces modular lending setups with independent risks.
• V4 aims to enhance capital efficiency and open new grounds for developers.

Lending protocol Aave is preparing for one of its most ground-breaking upgrades.

Two days after unveiling a mobile savings app, the team has released the update’s testnet, signalling progress towards Aave V4, which aims to change how liquidity moves within the protocol.

Aave V4 testnet, featuring a developer preview of our new interface, Aave Pro, is now live. pic.twitter.com/q7ltPy0pxC

— Aave (@aave) November 19, 2025

V4 will replace the common multi-market system with an innovative, unified “Hub and Spoke” architecture.

The version 4 update aims to transform how decentralized finance lending works, prioritising developers looking to launch risk markets or experiment with assets that do not perfectly fit into Aave’s current structure.

The official blog highlighted:

Each L1 or L2 will have at least one Aave V4 Liquidity Hub, with the potential for multiple Hubs per network. Spokes allow for greater experimentation within these ecosystems without liquidity becoming a limiting factor. This design makes it easier to support new risk profiles and enable innovation without fragmenting liquidity, while also providing a way to seed liquidity for new Spokes.

To understand why the V4 upgrade matters, let’s check how Aave V3 operates and the challenges that pushed the team to seek a flexible model.

A glance at Aave V3

Each market works independently in Aave version 3.

Deployments like Ethereum Prime and Ethereum Core maintain their own asset lists and liquidity pools.

Individuals supply to a definite market, and they can only borrow from that avenue.

While this structure is helpful for risk separation, it creates some crucial limitations.

For instance, liquidity stuck in a certain market cannot support borrowing in another.

Also, building new markets requires bootstrapping funds from scratch.

That slows adoption while fragmenting the entire user base.

Further, governance becomes challenging and experimentation heavier as each distinct market requires its unique pool.

The Aave team added:

It also limits economies of scale for borrowing and makes it harder to support novel assets or implement unique borrow configurations, which end up siloed and harder to use.

A unified Liquidity Hub to replace independent markets

Meanwhile, version 4 overhauls the Aave lending ecosystem with a Liquidity Hub, which is a shared pool comprising assets for the whole platform.

The innovative Hub serves as the only source of liquidity, ensuring that borrowers and suppliers leverage the same capital base, replacing segmented ones.

Most importantly, users will not interact with the Hub directly, though all deposits will eventually end up there.

The Hub handles everything, including interest calculations, accounting, and borrowing limits.

Each L1 or L2 platform can host at least one Hub, except chains with specialised needs or massive traffic.

The team expects this consolidation to substantially enhance capital efficiency by reducing idle liquidity and enriching borrowing conditions.

AAVE outlook

Aave’s native token displayed significant selling pressure on its daily chart.

It lost more than 6% the past 24 hours to $166.

The 27% dip in daily trading volume confirms bearish sentiment in AAVE.

Meanwhile, its downward stance coincides with the broader weakness.

The global cryptocurrency market cap declined by over 4% the past day to $3.04 trillion as Bitcoin plummeted below $90,000, trading at $89,478.

• Coinbase plans a prediction markets platform using Kalshi’s regulated system.
• Users can trade USDC or USD across sports, politics, and tech events.
• Move aligns with Coinbase’s goal to become an “everything exchange.”

Coinbase is preparing to enter the rapidly growing prediction markets sector, leveraging the regulated infrastructure of Kalshi to build its own platform.

Screenshots shared by tech researcher Jane Manchun Wong suggest the cryptocurrency exchange is creating a fully branded interface that would allow users to trade event-based contracts using USDC or US dollars.

Coinbase is working on Prediction Market pic.twitter.com/0T3HwdXmDy

— Jane Manchun Wong (@wongmjane) November 18, 2025

Coinbase builds on regulated infrastructure

The leaked images reveal a prediction markets website under development by Coinbase, featuring its branding and a clean, user-friendly layout.

The platform is set to operate through Coinbase Financial Markets, the exchange’s derivatives arm, in partnership with Kalshi, a federally regulated prediction market approved by the Commodity Futures Trading Commission (CFTC).

This regulatory backing positions Coinbase to offer legally compliant event-based trading in the United States, which has become a critical consideration for exchanges seeking to expand into this sector.

According to the screenshots, users will be able to trade on events spanning economics, sports, science, politics, and technology.

The interface hints that new markets will be introduced frequently, suggesting that Coinbase aims to maintain a dynamic and engaging platform for participants.

The website also includes a FAQ section and an onboarding guide, reflecting Coinbase’s intent to make the service accessible to both experienced traders and newcomers.

Coinbase’s strategy to become an “everything exchange”

Coinbase has previously indicated its ambition to evolve into what it calls an “everything exchange.”

Adding prediction markets aligns with this goal, providing users with another avenue to engage in crypto-based financial products.

The partnership with Kalshi, announced in November, allows Coinbase to act as custodian for Kalshi’s USDC-based event contracts, further solidifying its foothold in this emerging market.

The move also reflects the broader industry trend. Other major crypto exchanges have been moving aggressively into prediction markets.

Crypto.com recently launched a platform integrated with Trump Media, while Gemini has filed with the CFTC to become a designated contract market as part of its effort to create a “super app.”

Prediction markets have witnessed explosive growth in 2024 and 2025, with platforms such as Kalshi and Polymarket reporting record volumes as users increasingly turn to event-based trading ahead of major political, economic, and cultural moments.

Expanding global ambitions

This development comes alongside Coinbase’s recent international expansion with the launch of Coinbase Business in Singapore, a platform designed for startups and small businesses.

The Singapore platform offers instant USDC payments, global transfers, and automated accounting integrations, supported by real-time SGD banking rails via Standard Chartered.

By blending fiat and crypto under clear regulatory standards, Coinbase is positioning itself as a trusted partner for businesses navigating the evolving digital payments landscape.

Taken together, these moves demonstrate Coinbase’s strategic push into both innovative trading products and international markets.

The prediction markets platform, backed by Kalshi, gives Coinbase a foothold in one of the fastest-growing segments of the crypto economy, while the Singapore expansion highlights its commitment to regulatory compliance and practical financial solutions for global users.

As prediction markets continue to attract interest, Coinbase’s entry into the sector could intensify competition and further validate event-based trading as a mainstream financial offering.

• The campaign runs between 19 November and 3 December.
• Eligible users should buy or deposit SOL worth over $50 using the Crypto.com App.
• The top 2,000 participants will receive $10 in ETH each.

While the broader market seeks footing, with Bitcoin at $90,000, Crypto.com has announced a remarkable opportunity for its users.

The exchange took it to X on November 19, to confirm the official launch of the SOL App Campaign, which offers $20,000 Ethereum reward pool for participants who interact with SOL.

The SOL App Campaign is live ⚡️

Stand a chance to win from a US$20,000 $ETH prize pool by depositing or purchasing at least US$50 worth of $SOL ☀️

The top 2,000 users ranked by their SOL purchases + deposits will each earn US$10 in ETH 💠

🗓️ Ends 3 Dec

Details + T&Cs 👇… pic.twitter.com/bnMvoU1FH9

— Crypto.com (@cryptocom) November 19, 2025

Solana has been among the hottest tokens the past month, propelled by its reputation, flourishing Web3 and DeFi projects, and scalability.

Crypto.com’s campaign invites newcomers and experienced traders interested in navigating the Solana blockchain.

How does the SOL App Campaign work?

The initiative requests individuals to buy or deposit SOL tokens into the Crypto.com App throughout the campaign period.

The exchange will rank users based on their returns from the Solana deposits and purchases.

Meanwhile, the top 2,000 participants will receive ETH worth $10 each, credited to their Crypto.com App accounts within three months after the campaign concludes.

Notably, the cryptocurrency exchange will notify qualified recipients through email 14 days after completing reward distribution.

Moreover, it will apply ETH-USD’s exchange rate based on the market rate during the distribution.

With this structure, Crypto.com aims to reward only active engagement and encourage individuals to explore Solana’s benefits, including its speed and thriving ecosystems of dApps, and earn Ethereum in return.

What’s next?

Crypto.com’s Solana campaign is more than an opportunity for users to earn Ethereum.

It represents a strategic approach to enhance blockchain adoption and enrich user engagement.

Crypto.com is incentivizing user activity with tangible rewards, which will likely cement its status as an exchange that facilitates trading while actively supporting its community.

The SOL App Campaign allows individuals to interact with a flourishing blockchain and increase their ETH balances.

Solana continues to expand as a blockchain powerhouse, whereas Ethereum maintains its position as the second-largest cryptocurrency project.

Digital asset enthusiasts looking to capitalize on this opportunity can install the Crypto.com App, navigate Solana, and join the campaign.

The event will end next month, on December 3, with $20K in Ethereum up for grabs.

SOL and ETH price outlooks

The altcoins maintain bullish trajectories in attempts to recover from the latest broader market crash.

Solana has gained more than 2% over the past 24 hours to $140.

Also, Ethereum gained roughly 1.70% in that time frame to press time’s $3,091.

The duo exhibits faded daily trading volumes, reflecting the prevailing broader weakness.

Nonetheless, Tom Lee of Fundstrat expects Ethereum to bottom this week, citing its flourishing ecosystem (TVL) and its ratio with Bitcoin.

Lee trusts ETH can rebound to historic all-time highs of $12,000. Such a rally from Ethereum would mean explosive surges for altcoins, including SOL.

• Citadel Securities made a strategic investment at a $20 billion valuation.
• Institutional investors led the first tranche of funding.
• Kraken plans to grow across Latin America, APAC, and EMEA.

Kraken is entering a new phase of global expansion after securing fresh capital that places the company at a valuation of $20 billion.

The update outlined how this raise will support the firm’s plans for 2026 and strengthen its position across regulated markets, tokenized products, and institutional services.

The company also linked the funding to its broader push into global regions, deeper derivatives activity, and new financial tools.

The announcement signalled a shift toward long-term growth supported by new infrastructure and a wider product lineup rather than short-term market conditions.

Institutional backing drives Kraken capital raise

Kraken raised $800 million through two funding tranches.

The first tranche was led by major institutional players, including Jane Street, DRW Venture Capital, HSG, Oppenheimer Alternative Investment Management, and Tribe Capital.

The company added that Kraken Co CEO Arjun Sethi’s family office made a significant commitment to the round.

A further $200 million strategic investment came from Citadel Securities at the confirmed $20 billion valuation.

Kraken said the new capital will support its vertically integrated model that includes equities, derivatives, spot markets, tokenized assets, staking, custody, clearing, and payments.

The company had raised only $27 million in primary capital before this round and continued to operate profitably, reporting $1.5 billion in revenue for 2024 and surpassing that figure in the first three quarters of 2025.

Sethi posted on X that the raise reflected long-term conviction in the company’s strategy.

He noted that more than $100 million for the round came from his family office.

Product growth strengthens derivatives and tokenized asset plans

Kraken linked the funding to several important developments that took place across its ecosystem in recent months.

On Nov. 14, the company reported strong Q3 results that included $198 million in adjusted EBITDA, up 28% from the previous quarter, and more than $1.5 billion in revenue over the first nine months of 2025.

Kraken also completed its latest proof of reserves audit, confirming 1:1 plus backing for major assets.

This audit was the first to use distributed validator technology for Ethereum staking within the platform.

The company expanded its US derivatives presence through the acquisitions of NinjaTrader and Small Exchange.

Small Exchange was a $100 million transaction finalised in early October.

These acquisitions give traders new ways to access crypto-connected futures in addition to existing stock and commodity contracts.

To support high-frequency and institutional traders, Kraken introduced a new colocation service in partnership with Beeks Exchange Cloud.

The company said this upgrade offers faster and more direct trading connectivity.

Expansion plans target global markets

Kraken outlined its next steps across key regions as it works toward its 2026 strategy.

The company plans to enter new markets in Latin America, the Asia Pacific region, and EMEA.

Kraken said these expansions will coincide with the launch of new asset types, upgrades to staking services, and new trading features that widen customer use cases.

The company also plans to strengthen its payments network and expand its institutional product suite.

Kraken said these steps will help bridge traditional and open finance through regulated global infrastructure.

Wider financial ecosystem supports long term growth

Kraken positioned the new funding as part of a broader plan to support a growing financial ecosystem that connects regulated markets, tokenized assets, and cross-border financial services.

The company said its vertically integrated approach provides the structure needed for sustainable product development and regional expansion.

The funding also helps the firm invest in infrastructure, compliance systems, and service lines that support both retail and institutional customers.

Kraken said it aims to use this momentum to build a wider presence across global markets while continuing to advance tokenized financial products and regulated trading.

• The Hyperliquid price is up 6.5% as a majority of major coins bleed.
• The Hyperliquid price rally comes amid token buybacks and BLP rollout.
• A risky pattern has, however, formed, hinting at a possible pullback.

Hyperliquid (HYPE) price has surged despite a broader market slump, drawing fresh attention to one of the strongest performers of the month.

While most major assets bleed through heavy selling pressure, HYPE has pushed higher on rising demand, aggressive buybacks, and growing activity across the Hyperliquid ecosystem.

But even as the altcoin’s market sentiment turns bullish, technical analysts warn that the rally may not be as secure as it appears.

Buybacks and BLP rollout drive momentum

The Hyperliquid (HYPE) price surge can be attributed first to the rapid progress of Hyperliquid’s Base Liquidity Pool testnet, commonly just referred to as BLP, which launched on Hypercore, the Layer 1 chain powering the exchange.

The BLP rollout signals a major shift in the protocol’s infrastructure as it introduces more efficient liquidity routing and additional yield mechanics.

The testnet has added new energy to the Hyperliquid ecosystem. It positions the platform not only as a fast on-chain exchange but also as a hub for tokenised equities such as Nvidia, Tesla, and SpaceX, which have attracted new users and boosted activity at a time when most platforms are seeing a pullback.

Another crucial force behind the recent HYPE price surge is the exchange’s aggressive buyback program.

Hyperliquid has already executed more than $1.3 billion worth of buybacks, removing over 28 million HYPE tokens from circulation.

The reduction in supply is creating steady upward pressure on the token, especially as long-term holders lock more HYPE into staking contracts.

Staking deposits have risen nearly 60% in a month, easing sell-side pressure and strengthening market confidence.

The tightening supply comes as Hyperliquid expands its role in the global derivatives market.

The exchange now accounts for more than 6% of perpetual futures market share, placing it alongside centralised giants such as Binance, OKX, and Bybit.

This expansion brings higher fees, more buybacks, and stronger fundamentals for HYPE.

Bearish chart signals challenge Hyperliquid’s price rally

Despite the strong fundamentals, technical signals are flashing warnings.

A head-and-shoulders pattern has been forming on the daily chart since June.

The neckline of the pattern sits near $35.5, a level that has repeatedly acted as a key support zone. If the price breaks below that area, HYPE could drop to the next support area just above $30.

The risk increases as the 50-day and 200-day moving averages approach a bearish crossover, often referred to as a death cross.

This formation typically signals a shift into a deeper downtrend, especially when it appears during a period of market uncertainty.

Nevertheless, HYPE has held above $40, an encouraging sign that demand remains strong, and a clean move above $46 could invalidate the bearish setup.

• Toncoin price fell in recent sessions, hitting lows of $1.80 as crypto prices dipped.
• Coinbase adding support for TON has excited the community.
• TON could break above $2.00 if sentiment flips bullish.

On November 18, 2025, Toncoin (TON)’s price traded at a low of $1.80.

This included a modest 2% daily dip that also extended losses to over 17% in the past month.

However, despite largely bearish action, fresh positive news could help bulls.

Coinbase, the leading US-based exchange, has officially announced trading support for Toncoin.

Coinbase aside, TON is also getting bullish news with a new community initiative targeted for the TON community in the US.

Coinbase lists TON token

Coinbase’s decision to list TON reflects the exchange’s strategy to diversify its portfolio with high-potential, community-driven assets. 

The integration allows US and eligible international users to buy, sell, and store TON directly on the platform.

TON has traded primarily on exchanges like Binance, Bybit, and OKX.

However, Coinbase’s addition could add to further visibility and liquidity. 

For TON, listing offers the validation of a regulated and compliant giant like Coinbase.

It enhances credibility and potentially brings the next phase of TON adoption.

“Toncoin (TON) will be available on coinbase․com, in the Coinbase app, and Coinbase Advanced. Institutions can access Toncoin (TON) directly via Coinbase Exchange,” Coinbase wrote on X.

This expansion of access comes as the Toncoin ecosystem gains further momentum in the US market.

TONHub, a prominent wallet and payment solution for Toncoin, has launched its US operations.

Announced on X, TON hub US brings an expansion that enables US users to spend TON and Tether (USDT) seamlessly for real-world purchases.

It also means online transactions with instant fiat conversion capabilities.

🇺🇸 The US now has its own TON Hub.

Why this matters:

Telegram’s 1B+ users can access blockchain features without leaving their chat app. But most don’t know it exists.

We’re here to change that. pic.twitter.com/YoYrOGfl78

— TONUShub (@TONUShub) November 17, 2025

As with other integrations, the initiative enhances TON’s accessibility and utility, positioning it as a competitive player in the US market.

Toncoin price forecast

Toncoin is the native cryptocurrency of The Open Network (TON), a blockchain platform supported by Telegram.

In the past 24 hours, the TON price has fallen by nearly 2%.

Despite resilience throughout 2025, bolstered by major integrations within Telegram’s ecosystem, the token has dropped to lows of $1.80. 

As of writing, TON is trading in a trend that mirrors the broader market downturn.

Leading cryptocurrencies like Bitcoin and Ethereum have seen more significant losses, falling to $90,000 and $3,000, respectively.

For the market, macroeconomic factors have sentiment at new lows.

Yet market observers say adoption remains high and regulatory clarity keeps the door open for institutional traction.

That means Coinbase support and other key initiatives could allow Toncoin price to regain an upward trajectory.

Currently, the key targets are in the $2.00 to $2.50 range.

Short term, increased DeFi activity on TON, where total value locked (TVL) sits at $221 million, will help bulls.

Partnerships with major fintechs and Telegram’s push into web3 also provide an avenue for price growth.

If the bearish outlook is invalidated, TON price will target resistance at $4.5 and then the $6.00 area.

Meanwhile, a dip will see Toncoin’s price retreat further.

• The licence covers 13 cryptocurrencies, including Bitcoin, Ether, USD,C and Tether.
• AMINA reported a 233% increase in Hong Kong trading volumes in early 2025.
• Hong Kong launched new stablecoin rules and approved a Solana ETF this year.

Hong Kong’s push to build a regulated digital asset market is drawing more interest from global financial institutions, and the latest example is Swiss crypto bank AMINA Bank AG securing approval to expand its services in the city.

The bank received a Type 1 licence uplift from the Securities and Futures Commission, which makes it the first international bank allowed to offer regulated crypto trading and custody to institutional clients in Hong Kong.

The move strengthens the city’s position as a regional digital asset hub and highlights rising demand for bank-grade crypto services among professional traders.

AMINA plans to use the approval to provide institutional users with a regulated route into cryptocurrencies at a time when clients are looking for stronger safeguards and clearer rules.

Hong Kong’s compliance standards have often limited the number of foreign institutions able to offer these services, which has left a gap in the market for firms with established banking frameworks.

AMINA’s entry aims to fill that gap while giving clients a regulated platform backed by traditional financial infrastructure.

AMINA expands in a fast growing market

The licence uplift allows AMINA’s Hong Kong subsidiary to offer trading and custody for 13 cryptocurrencies.

These include Bitcoin, Ether, USDC, Tether, and several leading decentralised finance tokens that are widely used across global exchanges.

The approval creates new opportunities for institutional clients looking for a single regulated venue with access to a curated list of major digital assets.

AMINA also reported a sharp rise in market activity.

The bank recorded a 233% increase in trading volume on Hong Kong crypto exchanges in the first half of 2025.

The increase points to stronger engagement from both institutional and retail segments, which are becoming more active as Hong Kong’s regulatory environment evolves.

The bank expects the new approval to support a wider product range.

It plans to expand into private fund management, structured crypto products, derivatives, and tokenised real-world assets.

These additions would place AMINA among the firms offering institutional clients diversified exposure across multiple types of digital assets.

Local players face new global competition

While AMINA is the first international bank to receive this specific licence upgrade, it enters a competitive market.

Hong Kong already hosts regulated local firms such as Tiger Brokers and HashKey, which serve institutional and retail clients under earlier permissions.

AMINA’s approval signals that the market is open to more foreign institutions, which could change competitive dynamics for both global and local providers.

Hong Kong officials have said on multiple occasions that attracting global firms is central to the city’s digital asset strategy.

AMINA’s arrival may encourage more banks and brokerages abroad to consider similar applications as they assess opportunities in Asia’s regulated crypto markets.

Policy changes shape Hong Kong’s crypto framework

AMINA’s approval arrives during a period of rapid policy development in the city.

Hong Kong introduced its new stablecoin rules in August, creating a formal licensing pathway for issuers.

Following this, major regional banks such as HSBC and ICBC indicated they were examining licence applications as part of their digital asset plans.

The city also approved its first Solana exchange-traded fund in late October.

The approval placed Hong Kong ahead of the US in allowing a regulated Solana ETF and added another product to its growing list of crypto-linked investment options.

Hong Kong tightened rules around self-custody of digital assets in August.

The change focused on improving cybersecurity protections and reducing risks tied to individual key management.

The decision was presented as a safety measure rather than a restriction on user access.

The combination of new rules and rising institutional interest has created an environment that is now attracting more global firms.

AMINA’s regulatory progress adds momentum to Hong Kong’s strategy of balancing strong compliance with market expansion.