Institutional allocators are viewing the current cryptocurrency market decline as potential entry opportunities, according to market analysts. Bitcoin has experienced significant selling pressure, with more than $2 billion in leveraged positions liquidated within 24 hours. Analysts note fundamental differences from previous market cycles, including broader institutional ownership and regulatory progress, though further downside remains possible.

MegaETH will open pre-deposits for its USDm stablecoin on November 25, with a $250 million cap on a first-come basis. The stablecoin uses Ethena's USDtb infrastructure to generate yield that will offset sequencer costs. Participation is restricted to users who completed KYC during the project's token sale, which drew over $1.39 billion in bids.

Cipher Mining has signed a 10-year agreement with Fluidstack to lease its entire 300-megawatt Barber Lake campus in West Texas. The deal adds 39 MW of critical IT load and represents approximately $830 million in initial-term revenue. The miner is simultaneously pursuing a $333 million senior secured note offering to fund continued construction.

Block announced a $5 billion stock buyback authorization and financial projections through 2028, driving shares up approximately 8% to $62 on Wednesday. The company projects gross profit to reach around $15.8 billion by 2028 with mid-teens annual growth. Adjusted operating income is expected to exceed $4.6 billion with roughly 30% yearly increases.

Bitcoin fell to approximately $88,600 on Wednesday, its lowest level since April and more than 5% below its opening price for 2025. The decline followed the release of Federal Reserve minutes from its October meeting, which showed significant disagreement among officials on the pace of policy adjustments amid ongoing inflation concerns.

Canaan reported third-quarter revenue of $150.5 million, up 104% year-over-year, and posted a gross profit of $16.6 million after a $21.5 million loss in the prior-year period. The Bitcoin mining hardware manufacturer's stock rose approximately 18% following the earnings release. The company's self-mining operations produced 267 BTC during the quarter, contributing to record digital asset holdings.

R25, a protocol incubated by Ant Financial, has launched rcUSD+, a dollar-pegged stablecoin that generates yield from money market funds and structured notes. The platform chose Polygon as its first blockchain integration, targeting DeFi protocols with institutional-grade tokenized assets.

Cypherpunk Technologies purchased 203,775 ZEC tokens valued at approximately $50 million, according to a company statement released Wednesday. The acquisition followed a $58.9 million capital injection from Winklevoss Capital. The firm, formerly Leap Therapeutics, acquired the tokens at an average price of $245 per coin and aims to accumulate at least 5% of Zcash's maximum 21 million token supply.

JPMorgan Chase expanded its position in BlackRock's iShares Bitcoin Trust by approximately 2.07 million shares during the third quarter, reaching a total of 5.28 million shares valued at around $333 million as of September 30. The bank's ethereum ETF allocation remained minimal at 66 shares worth approximately $1,700. The expansion comes as JPMorgan analysts project bitcoin could reach $170,000 within six to 12 months.