Layer-1 blockchain networks recorded significant decreases in daily active wallet addresses over the past year. Solana's daily active wallets dropped to 1.7 million–2.3 million from a September 2024 peak of nearly 32 million, while BNB Chain maintained the highest user activity at approximately 4.7 million daily users. Despite reduced wallet counts, value transfers and fee generation remained strong across leading networks.

Nakamoto Holdings posted additional collateral to its $250 million Bitcoin-backed loan facility twice within one week as Bitcoin dropped below $92,000. The company, which holds a convertible note arrangement with Antalpha, transferred 1,000 BTC from its treasury on November 21 to meet margin requirements. CEO David Bailey stated that 367 BTC previously moved from holdings were invested in shares of other Bitcoin treasury companies rather than sold outright.

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's leverage ratio on exchanges has recovered to 0.7 as of November 20, matching levels last seen before October 11. Binance accounts for the majority of this increase, with traders opening new positions near $3,000 despite total open interest remaining at $17 billion.

Polygon's Layer-2 network saw renewed activity in November 2025, driven by Polymarket's $3.7 billion in trading volume over 30 days. The prediction platform became the leading application on Polygon, surpassing QuickSwap and Uniswap. Daily active wallets on Polygon approached November 2024 peaks, with Polymarket contributing approximately 70,000 daily users.

Bitcoin wallets created in the past 155 days are holding substantial unrealized losses, with 95% of coins acquired during this period trading below their purchase price. The cryptocurrency was trading at $91,270.42, a 25% decline from recent peaks. Recent buyers who entered near all-time highs above $126,000 now face pressure as Bitcoin tests key support levels.

As of November 19, 2025, 42% of XRP's circulating supply is held at unrealized losses, a sharp reversal from October when over 90% of holders were profitable, market data show. XRP traded at $2.19 on November 19, down from earlier levels. Large holders shed positions during recent months while retail confidence remained elevated, transferring supply to buyers who acquired the asset at higher price points.

CBOE Global Markets will introduce Bitcoin Continuous Futures (PBT) and Ether Continuous Futures (PET) on December 15, pending regulatory review. The CFTC-regulated contracts feature a 10-year expiration with daily cash adjustments. Trading will operate 23 hours per day, five days per week, offering U.S. traders perpetual-style exposure within a regulated framework.

Strategy moved 38,657 BTC from publicly identified wallets to Coinbase Custody addresses on November 14, 2025. Executive Chairman Michael Saylor dismissed market speculation about liquidation, stating the company continues to accumulate Bitcoin. The transfers totaled approximately $1.2 billion and occurred as Bitcoin fell below $95,000, according to Arkham Intelligence.