Monad is preparing for its initial coin offering exclusively on Coinbase, drawing significant attention in the cryptocurrency sector. Industry experts have raised concerns about the token's allocation structure, with over 50% of the supply designated for the team and investors. This distribution model has prompted questions about potential selling pressure once trading commences.

Coinbase announced on November 21, 2025, its plan to acquire Vector.fun, a Solana-based decentralized exchange, subject to closing conditions. The Tensor Foundation will operate independently and has acquired full ownership of the Tensor NFT marketplace. TNSR token surged over 200% to $0.27 on November 20, 2025, one day before the announcement, with trading volume reaching $1.36B.

Ethereum came under significant selling pressure as multiple factors converged within a 24-hour period. Binance executed substantial ETH transfers to market makers and exchanges while over $350 million in leveraged positions were liquidated, according to Arkham Intelligence data. The asset broke below the $2,800 support level, with price reaching the $2,650 zone.

The Bitwise XRP ETF began trading on the New York Stock Exchange with approximately $26 million in first-day volume across more than 1.1 million shares. The launch represents the third-largest ETF debut of 2025, following Canary's XRP ETF which recorded nearly $60 million in opening-day volume one week earlier.

Ethereum fell more than 10% on November 21, 2025, declining from $3,039 to approximately $2,660 and breaching the $2,700 level. The decline triggered roughly $400 million in leveraged ETH position liquidations within 24 hours, with long positions accounting for about $374 million of the total. Nasdaq-listed Bitmine purchased an additional 17,242 ETH valued at $44.46 million during the downturn, bringing its total holdings to around 3.62 million ETH.

Solana trades at $127.45 after a 31% decline over 30 days. Six newly launched U.S. spot ETFs have accumulated over $2 billion in assets, with inflows reaching $26.2 million on November 18. The ETFs recorded their 15th consecutive day of positive flows despite ongoing price weakness.

The UK's Serious Fraud Office arrested two individuals in connection with the alleged $28 million collapse of Basis Markets. The decentralized hedge-fund project raised funds through NFT and token sales in 2021–2022 before ceasing operations without delivering a product. No formal charges have been filed, and the investigation remains ongoing.

FG Nexus Inc. saw its share price drop over 7% following disclosure of a 10,922 ETH sale worth approximately $31 million. The Ethereum treasury company combined sale proceeds with a $10 million loan to repurchase roughly 3.4 million common shares at an average price of $3.45 per share. The buyback represents about 8% of outstanding stock under the firm's $200 million share repurchase program.