PA Daily | Monad public sale raised a total of $269 million with 85,820 participants; Binance Alpha to launch Irys(IRYS) on November 25

Today’s Key News Highlights:

1. Next week’s macro outlook: Probability of a December rate cut has soared to 73%, Powell’s “spokespersons” closely monitoring the Beige Book

2. Strategy: The BTC held could cover 71 years of dividend payments at current prices

3. Tom Lee: Strategy, with its 650,000 BTC holdings, has become the market’s preferred hedge

4. Port3 Network exploited by hacker using BridgeIn vulnerability, PORT3 plummets 77.4% in 24 hours

5. Monad: MON token sale on Coinbase has ended, 85,820 participants contributed $269 million

6. A new wallet suspected to belong to Bitmine or SharpLink transferred $60.04 million in ETH from FalconX

7. 1inch team withdrew 6.01 million 1INCH tokens worth $1.072 million from Binance in 13 hours

Macro

Next week’s macro outlook: Probability of a December rate cut has soared to 73%, Powell’s “spokespersons” closely monitoring the Beige Book

This week was even worse for the cryptocurrency market. At the time of writing, Bitcoin is trading around $83,000, down 35% from its all-time high of $126,000, almost erasing all gains since April. This week, the “king of crypto” dropped 18%, marking its steepest weekly decline since mid-November 2022. November is expected to record the worst monthly performance since the market correction in June 2022. Here are the key points the market will focus on in the coming week:

Monday 23:30, US Dallas Fed November Business Activity Index

Tuesday 21:30, US September Retail Sales MoM, US September PPI

Tuesday 23:00, US November Conference Board Consumer Confidence Index

Wednesday 21:30, US Initial Jobless Claims for the week ending November 22

For the US, next week won’t be too busy due to the Thanksgiving holiday, meaning data will be released mainly in the first three days of the week.

Trinidad and Tobago Parliament passes crypto regulatory bill to oversee cryptocurrencies and related service providers

According to Crowdfund Insider citing local media, 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 Bill 2025” was first introduced by the Finance Minister in September and sets out a framework for licensing and regulating virtual asset activities in the Caribbean nation.

The bill was first introduced by the Finance Minister last September. The government stated the bill is closely related to Trinidad and Tobago’s need to meet anti-money laundering and counter-terrorism financing standards ahead of the Caribbean Financial Action Task Force (CATF) fifth round mutual evaluations, including an on-site review scheduled for March 2026.

Hong Kong SFC adds “AmazingTech” to suspicious virtual asset trading platform alert list

The Hong Kong Securities and Futures Commission has warned the public to beware of a virtual asset trading platform called “AmazingTech” and has added it to the suspicious virtual asset trading platform alert list. The platform claimed to operate a virtual asset trading platform locally in Hong Kong and is suspected of unlicensed activities.

Opinions

Coinbase Bitcoin Premium Index negative for three consecutive weeks, heavy sell pressure in US market

According to CryptoQuant data, the Coinbase Bitcoin Premium Index has remained negative for three consecutive weeks since turning negative on October 31. The premium index is positive when the Bitcoin price on Coinbase is higher than the global average, and negative otherwise. The current trend indicates strong sell pressure in the US market and declining risk appetite among investors.

Glassnode co-founder: Bitcoin ETFs still generating net profits, cost basis not impaired

Glassnode co-founder Negentropic posted on X, stating that what’s happening to Bitcoin now is not a narrative shift, but a mechanical “buffer.” Currently, ETFs are still generating net profits, and the cost basis has not been impaired. While some long-term holders are selling, Solana ETF inflows remain stable, and altcoins are outperforming BTC and ETH. Moreover, the overall cycle structure remains intact, ETF and spot demand is strong, macro environment is neutral to bullish, the market hasn’t capitulated, and the trend is unbroken. When the decline finally exhausts itself, the rebound could be much larger than the previous drop.

Strategy: The BTC held could cover 71 years of dividend payments at current prices

Bitcoin treasury company Strategy posted on X, stating that at current prices, the company’s approximately 650,000 BTC holdings could cover 71 years of dividend payments. It also noted that as long as Bitcoin appreciates about 1.41% annually, the returns will be enough to cover yearly dividends. However, the community pointed out that Strategy’s calculations are based on multiple assumptions, including Bitcoin’s price remaining unchanged, all holdings being available for sale or collateral, no external shocks or tax effects, the convertible debt structure remaining manageable, and stable dividend payout levels.

Tom Lee: Strategy, with its 650,000 BTC holdings, has become the market’s preferred hedge

Bitmine Chairman and CEO Tom Lee said in a CBDC interview that due to limited on-chain options, MSTR has become the preferred tool for crypto investors to manage risk. Institutional investors use Strategy (MSTR) shares to hedge losses, causing the stock to fall 43%.

Tom Lee believes that Strategy holds a large amount of Bitcoin (650,000 BTC), with liquidity far exceeding BTC and ETH derivatives. Thus, after crypto liquidity dries up and market makers are hit, institutions can’t effectively hedge on-chain and can only short MSTR to hedge Bitcoin and Ethereum losses. Tom Lee also noted that the crypto market mechanism remains fragile, and Strategy as a hedging tool indicates a deeper structural problem.

Jack Yi: All-in ETH around $2,700, also holding BNB and ASTER

Liquid Capital founder Jack Yi posted on X: “ETH filled around $2,700, fully all-in this time. My overall position always follows the three major track logic: ETH as the main public chain, with some BTC/BCH allocation; exchange tokens are BNB/Aster; stablecoin heavy position is WLFI, which is like USD1’s BNB, and USD1 is the only stablecoin with a chance for leapfrog growth. Can’t focus on too many projects, so sticking to the top three tracks and leaving the rest to time.”

Project Updates

Port3 Network exploited by hacker using BridgeIn vulnerability, PORT3 plummets 77.4% in 24 hours

Decentralized AI data network Port3 Network stated on X that a hacker exploited a BridgeIn vulnerability to mint extra tokens. The team has removed liquidity and is preparing to communicate with the hacker. Port3 Network reminded users not to trade the token until the issue is resolved. Market data shows the PORT3 token dropped 77.4% in 24 hours.

Hacker exploited PORT3 bridge vulnerability, minted 1 billion tokens, sold some, and burned 837 million remaining tokens

According to on-chain analyst Yujin, a hacker exploited the PORT3 bridge vulnerability 3 hours ago to mint 1 billion $PORT3, then sold them on-chain, causing $PORT3 to drop 76%. The hacker sold 162.75 million for 199.5 BNB (($166,000)). Subsequently, the PORT3 team removed on-chain liquidity, and some CEXs suspended PORT3 deposits. After being unable to sell further, the hacker burned the remaining 837.25 million PORT3 tokens 40 minutes ago.

Cardano experienced a brief chain split on Friday due to an old code vulnerability; founder says FBI is investigating

Due to a “malformed” delegation transaction, the Cardano network experienced a temporary chain split on Friday. Such delegation transactions, which involve delegating ADA to staking pools, are valid at the protocol level but can cause code failures that affect network functionality.

According to an incident report by Cardano ecosystem organization Intersect, the malformed transaction exploited an old code vulnerability in Cardano’s underlying software libraries, causing nodes to disagree on how to process the transaction and ultimately splitting the network. The bug was caused by an ADA staking pool operator named Homer J, who used AI-generated code for the transaction and has admitted responsibility. Operators have been asked to download the latest node software to fix the issue and consolidate the split chains back into a single blockchain.

The temporary split sparked debate within the Cardano community. Some believe Homer J’s actions helped expose a key vulnerability, while others (including Cardano founder Charles Hoskinson) called it an attack on the Cardano network, with the FBI now involved in the investigation. One user joked: “Nobody noticed Cardano’s network partition because no one uses it.”

Monad: MON token sale on Coinbase has ended, 85,820 participants contributed $269 million

Monad stated on X that the MON token sale on Coinbase has ended, with 85,820 participants contributing a total of $269 million. The mainnet will go live on Monday.

Binance Futures to delist PORT3USDT USD-M perpetual contract

According to the official announcement, Binance Futures will conduct an automatic settlement and delist the PORT3USDT USD-M perpetual contract at 14:30 on November 23 (UTC+8).

Binance Alpha to launch Irys (IRYS) on November 25

According to the official announcement, Binance Alpha will launch Irys (IRYS) on November 25. Eligible users can go to the Alpha event page to claim airdrops using Binance Alpha points after trading opens. More details will be announced separately.

According to the official announcement, Binance Alpha will launch Irys (IRYS) on November 25. Eligible users can go to the Alpha event page to claim airdrops using Binance Alpha points after trading opens. More details will be announced separately.

Binance: Hold over 256 Alpha points to claim 640 Kyuzo’s Friends (KO) airdrop

According to the official announcement, Binance Alpha will open trading for Kyuzo’s Friends (KO) at 17:00, November 23, 2025 (UTC+8). Users holding at least 256 Binance Alpha points can claim 640 KO tokens on a first-come, first-served basis. If the reward pool is not depleted, the claim threshold will be automatically reduced by 5 points every 5 minutes. Claiming the airdrop will consume 15 Binance Alpha points. Users must confirm the claim within 24 hours on the Alpha event page, or it will be considered forfeited.

According to the official announcement, Binance Alpha will open trading for Kyuzo’s Friends (KO) at 17:00, November 23, 2025 (UTC+8). Users holding at least 256 Binance Alpha points can claim 640 KO tokens on a first-come, first-served basis. If the reward pool is not depleted, the claim threshold will be automatically reduced by 5 points every 5 minutes. Claiming the airdrop will consume 15 Binance Alpha points. Users must confirm the claim within 24 hours on the Alpha event page, or it will be considered forfeited.

Key Data

1inch team withdrew 6.01 million 1INCH from Binance in 13 hours, worth $1.072 million

According to on-chain analyst Ai Yi, in the past 13 hours, the 1inch Team Investment Fund withdrew 6.01 million 1INCH from Binance, worth $1.072 million at an average price of $0.1785. Currently, they hold 1INCH worth $16.97 million, but their largest holding is still ETH ($26.6 million).

This week’s NFT trading volume fell 4.21% to $74.2 million, seller count surged 106%

CryptoSlam data shows NFT market trading volume fell 4.21% to $74.2 million in the past week. NFT buyers increased 34.03% to 328,255; sellers surged 106%, reaching 284,166; NFT trades fell 12.67%.

Ethereum network trading volume was $31.93 million, down 3.81% from the previous week; BNB Chain trading volume was $8.74 million, down 0.01%; Mythos Chain trading volume was $6.96 million, up 5.28%.

Notable high-value trades this week 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 to Binance and would lose $2.12 million if sold

According to on-chain analyst Ai Yi, address 0x29F…335EF deposited 8,920 ETH (about $24.85 million) to Binance in the past hour. These ETH were withdrawn from exchanges between March 2024 and February 2025 at an average price of $3,024. If sold now, it would result in a $2.12 million loss. After this deposit, the wallet holds only 0.04238 ETH, nearly fully liquidated.

Institutional Holdings

A new wallet suspected to belong to Bitmine or SharpLink transferred $60.04 million in ETH from FalconX

According to Onchain Lens, a newly created wallet received 21,537 ETH ($60.04 million) from FalconX. The funds may belong to Bitmine or SharpLink, but this is not yet confirmed.