You’d think Bitcoin already got cracked by a nonexistent quantum computer this week. Another brutal week in the markets. Fear and Greed Index is at 11 and dipped down to 6, which is even worse than the FTX crash. Stocks and crypto aren’t providing any comfort right now and even worse if the stocks you own are related to crypto…whoops. Another gentle reminder that holding spot or LSTs can’t be liquidated. We shouldn't be clutching our pearls when the whole market is running on leverage.
Alts have bled dry and we haven’t gotten the alt run we all wanted, but it may be worth considering dumping the trash for conviction plays. Sorry $DOT, but you got swapped after being held waaaay too long. There’s no liquidity left, bulls are getting wrecked and the fear that someone is trying to pull an FTX cover up from 10/10 looms. We haven’t recovered since that massive liquidation event.
But...maybe, it's just a normal bull run pullback.
Price Movements on the Week
$SOL- Down 6.88% (-31.59% 30 days)
$ETH- Down 11.22% (-27.43% 30 days)
$ZEC- Down 19.9% (+139.44% 30 days)
Not helpful, @chamath! He talked about Bitcoin and the threat of being broken by quantum within the next few years on one of the biggest podcasts out there and the narrative spread like wildfire. All everyone talked about this week was the fear element of Bitcoin and while this is 100% true, the threat is not here yet and could be 2/5/10 yrs out.
It’s 100% a real concern, but right at this moment? Why? There wasn’t a new breakthrough in quantum. The scariest part is that the BTC community has had time and still does to make changes, but getting everyone to agree is a monumental task. This is good most of the time, but they really need to start hammering out a plan. To be clear, anyone on an elliptical curve is at risk (most), but other chains are more actively seeking answers that are capable of coordinating easier.
VanEck’s CEO mentions @zcash $ZEC on CNBC! Bitcoin OGs have been selling. Are they moving into $ZEC or are they concerned enough about quantum hacks to just walk away altogether and take their profits? He said VanEck would walk away from BTC if they had to. Confidence in BTC was really low this week. Bitcoin maxis cry foul and that ZCash is paying for these shills. Only time will tell.
Aave (@aave) had a big week of announcements. Their new app is out in the apple store (whitelist request only) and they are trying to break into the consumer market…dare I say, a neo-bank? What we need are apps that are easy to onboard for non crypto users that have good UX and show the value proposition right up front without overly complicating it.
This will be the meta in 2026. @fusewallet (on solana) does a great job of this, but only has a virtual bank account option and @uselulo (also on solana) has apple pay and bank transfers coming soon. As a daily crypto user, I’m checking out all of these options to find what’s best to onboard friends and family to a better way to save.
If you are interested, you can use my referral link for both of us to get a 1% bonus -
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They also introduced Yield Mode for users to earn on their stables and opened up V4 testnet for devs.
Despite the bloodbath, $SOL ETFs have had a good run so far. BSOL staked $SOL ETF has seen consistent net inflows, with no recorded outflows as of November 21, 2025, extending to 18 consecutive days of positive flows. BSOL has surpassed $500 million in assets under management (AUM) within its first 18 trading days, making it the largest Solana ETF in the U.S. and accounting for ~89% of all Solana ETF inflows. Not too shabby! The Fidelity spot Solana ETF (FSOL) also went live on the 18th.
The @solana inflation reduction proposal is now live (SIMD 0411)where it’s proposed to speed up the existing solana disinflation rate by 2x. A different proposal (SIMD 228) was rejected, so we will see where the validators stand now.
Unlike dynamic inflation mechanisms, the effects of doubling the disinflation rate are predictable. This provides strong certainty around future inflation and emissions.
In the Jupiter(@JupiterExchange) planetary call, they announced their plans for Jupuary 26. Thanks to @JaxOfWeb3 for a nice breakdown
• Only 200M JUP will be released in early 2026 (This will prevent dump & make holders feel more comfortable......... emphasis on ONLY 200M)
• The Airdrop will go to Jupiter Users and Stakers (175M will be allocated to users and 25M will be allocated to stakers)
• Only Fee paying activities will be considered for the Users Airdrop (This includes usage of JUP products like JUP perps, ultra trading via JUP pro or @jup_mobile @jup_lend(borrowers), Prediction Markets and Studio
• Stakers will be rewarded based on Time weighted stake • 200M JUP will be set aside as a Long-Term Alignment (This will be kept for those that receive the airdrop and keeps it staked for the whole year...........More like a BONUS POOL)
• Unclaimed JUP from Jupuary will be added to the bonus pool
• 300M JUP will be set aside for JupNet incentives (Future Growth Matters)
Phantom (@phantom) rolled out a few new things this week in beta and waitlist, including Terminal, a desktop pro trading experience that’s still in Beta. #1 thing I noticed is it’s landing page is fucking meme coins. Get that shit outta here. Fine to have it as an option, but the landing page? No thanks. They also introduced $CASH accounts that will have Virtual (Apple Pay, Google Pay) and physical Phantom debit cards and can fund or make bank withdraws in a few taps. They are not a bank though! They made that clear. I’m actually looking forward to how they handle the cash accounts. I’ve had a decent position on @kamino in the USDC/CASH liquidity pool (currently 8.55%
$CASHrewards).
Solv Protocol (@SolvProtocol), an operating layer for Bitcoin, backed by Binance Labs are bringing their BTCFi standard to @solana. I’m personally one who doesn’t think BTC needs L2’s and that defi for BTC can be handled on other blockchains, like Solana, EVM, Starknet, etc.
We are at the point of frustration in the markets that this @solana marketing video for Breakpoint (@SolanaConf) somehow got peoples panties all ruffled? TLDR - The ad jokes about marketers bombarding Devs who really have no interest. How can we sleep at night with ads breaking the fabric of society like this?
It’s ICO week, with Monad (@monad) and MegaETH (@megaeth) fighting it out with token sales. They took different approaches. • MegaETH went for an onchain ICO to supporters that oversubscribed, selling $50m to 5k addresses. • Monad is the first ICO to happen through Coinbase and went for a wider approach, pre-selling $250m to approx 85k people.
I didn’t use Monad in testnet personally, but I did use MegaETH some and will look into it as a possible place to move my eth after it goes live and I mess around with it more. I’m honestly not sure what I’d use Monad for, but Solana teased their logo in a video and have talked about them this week from the official account, so maybe there’s some kind of interoperability? We will find out.
(run by the Tensor crew) and boy did it cause some noise. They are shutting down VF and hired all of their employees (13), who also happen to be Tensor employees. Oddly, $TNSR had a massive run up this week out of nowhere and you can guess what happened…insiders fortran the announcement and made tons of money on it. This is not shocking in our industry, sadly. $TNSR token holders are basically just left out to dry at this point. $TNSR did an “organic” 8x in two days while the market was bleeding, and then drops -40% the day after the announcement.
Mr @Base himself, @jessepollak decided it was a good time to launch a memecoin and it went about as well as you’d expect. Thanks to @bubblemaps, we saw that a wallet sniped
$JESSE in the FIRST second of launch - 3 minutes before
@jessepollak even shared the CA and made $600k profit. How many times can we keep trying to force Zora and creator coins into being a thing worth investing in? It’s 100% speculation and attempts to get in/get out with profit. There’s no reason to hold a coin like this long term.
Hyperliquid (@HyperliquidX) $HYPE unlocks are looming on Nov 29th from core contributors. More than $7.44b (2.66% of circ. supply) will be unlocked and the Hyperliquid team unstaked $86m yesterday. Will there be intense sell pressure, or are we seeing that reflected in the $HYPE price already?
Santiago (@santiagoroel) posted a blog highlighting current valuations and asking the simple question…are we overvaluing most tokens? This of course faced tons of backlash, because $ETH is trading at 200-400x sales, while Nvidia is trading at 40-45x earnings (not sales). It also brought out the “ETH is a store of value” people again. I’m not against ETH becoming an SoV, but has it proven itself to be? I don’t think so. Security has value, but is it 200-400x?
ZK strikes again: Justin Drake (@drakefjustin) posted that two 5090s now prove every L1 EVM block. The @zksync Airbender team pulled off something insane. Mainnet proofs on two gaming GPUs. What does that actually mean? • Cygaar (@0xCygaar) broke it down. -
• With the latest @zksync changes, they are now able to prove an entire Ethereum block with consumer grade hardware. Previously, creating a zk proof for an Ethereum block would take large amounts of computation and time - now it's a mere fraction of what was possible previously.
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