1. Total market value of DeFi tokens: $104.91 billion
DeFi Total Market Cap Data Source: coingecko
2. Trading volume of decentralized exchanges in the past 24 hours: $49.27
Trading volume of decentralized exchanges in the past 24 hours. Data source: coingecko
3. Assets locked in DeFi: $118.44 billion$118.44 billion
Top 10 DeFi Projects by Locked Assets and Total Value Locked (Data Source: defillama)
1. Total Market Cap of NFTs: $9.81 Billion
NFT Total Market Capitalization, Top Ten Projects by Market Capitalization Data Source: Coinmarketcap
2.24-hour NFT transaction volume: 9.785 billion USD [Image of NFT total market capitalization and top ten NFTs by market capitalization. Data source: Coinmarketcap] [Image of top NFTs in 24 hours] Top 10 NFTs by Sales Increase in the Last 24 Hours. Data Source: NFTGO Bitcoin Decline Driven by Derivatives Liquidation According to on-chain data, the recent decline in Bitcoin prices was mainly driven by forced liquidation in the derivatives market, rather than a sell-off in the spot market. The fundamental reason lies in the accumulation of highly leveraged long positions in the futures market. When the price fell below key levels, these positions triggered maintenance margin requirements and were forcibly liquidated. 1.Messari: BNB According to a report by Jinse Finance, citing the latest report from Messari, BNB Chain's market capitalization grew by 51.6% quarter-on-quarter to $140.4 billion in Q3 2025, ranking fifth in the crypto market capitalization. Total Value Locked (TVL) in DeFi increased by 30.7% to $7.8 billion, surpassing Tron to rise to third place. Stablecoin market capitalization grew by 32.3% to $13.9 billion, with USDT accounting for 57.4%, USDe surging more than tenfold quarter-on-quarter to $430 million, and USDF increasing to $360 million. 2. Binance Wallet Launches Web3 Loan On-Chain Lending Function Jinse Finance reports that Binance Wallet has launched a new Web3 Loan on-chain lending function, allowing users to borrow crypto assets directly within the Binance Wallet using existing assets as collateral, expanding the on-chain lending experience. This function enables multi-asset collateralization and borrowing through the Venus protocol on the BNB chain. Currently, it supports collateralizing mainstream assets including BTCB, ETH, USDT, USDC, FDUSD, and WETH, and allows borrowing USDT, USDC, and BNB. Binance Wallet stated that it will launch an exclusive Venus rewards program based on this lending function, where users who borrow eligible assets can share a 400,000 USDT reward and enjoy preferential interest rates, aiming to improve the liquidity and yield potential of on-chain wealth management and lending services within the wallet.
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DeFi Hotspot
3. Binance Releases Project Listing Path Framework and Application Guidelines
According to Jinse Finance, Binance has released its project listing path framework, including options for different stages such as Binance Alpha, Binance Futures, and Binance Spot. The announcement details the different listing paths from early-stage projects to mature projects, such as Launchpool, Megadrop, and direct spot listing, and lists key evaluation areas. Project teams must apply directly through official channels. Binance emphasizes that it does not recognize any third-party intermediaries and remains vigilant against fraudulent activities, providing a reporting channel.
4. Polygon Network's November transaction volume reached a record high of $7.12 billion
According to Jinse Finance, Sandeep Nailwal, co-founder of Polygon and CEO of the Polygon Foundation, posted on the X platform that Polygon Network's P2P business is experiencing accelerated growth, achieving four consecutive months of growth, with November's transaction volume once again reaching a record high of $7.12 billion.
5.Delphi Digital: L1 Valuation Premium Has Disappeared, Market Demand for Homogeneous Infrastructure is Weakening
According to Jinse Finance, Delphi Digital published an article on X stating that the valuation premium for Layer 1 is disappearing. The transformation from "fat protocols" to "fat applications" has been ongoing for some time, but the market is only now beginning to price it in. Market demand for homogeneous infrastructure is weakening, and investor expectations have shifted. Major public chains are facing greater pressure to demonstrate real and sustainable recurring revenue. Stablecoins may be a way out. Currently, over $30 billion worth of USDC and USDT are deployed on various alternative Layer 1 and Layer 2 networks, generating over $1 billion in revenue annually for Circle and Tether. The ecosystem that truly drives demand for these stablecoins has a total transaction fee revenue of approximately $800 million.
A massive cryptocurrency scam in South Korea led to the arrest of 215 people, including a YouTuber who used his platform to promote fake investment schemes. The scam, which targeted over 15,000 investors, defrauded them of around $230 million by selling worthless crypto assets and making false promises of high returns.
JoyA phishing attack on a cryptocurrency investor led to the theft of 95.3 million GIGA tokens, worth over $6 million, through a fake Zoom link. The hacker quickly sold the stolen tokens, converted them into Solana and stablecoins, and moved the funds to obscure wallets, while the investor is now working with law enforcement to recover the assets.
WeatherlyThe FBI has reportedly seized Polymarket CEO Shayne Coplan’s devices, possibly tied to the platform’s prediction of Trump’s election victory. While no charges have been filed, sources suggest market manipulation is under investigation. Meanwhile, France’s gambling regulator may block Polymarket’s operations. Is this the beginning of the end for the decentralised betting platform?
CatherineAmidst his election victory and staff appointments, President-elect Trump is capitalising on the Dogecoin trend by selling DOGE merchandise. This move highlights his continued business instincts, even in politics, as Dogecoin enjoys a steady rally.
KikyoCoinbase Wallet’s upcoming “tap-to-pay” feature aims to rival quick-pay apps like Venmo and Cash App, with a goal to reach 50 countries by 2025. Additionally, Coinbase’s Base network is working to solve Ethereum layer 2 interoperability, which could allow seamless transfers across multiple chains within six months.
WeatherlyThe Free Republic of Liberland has launched its space programme, aiming to lead in technological innovation and global collaboration through an open platform for nations and private entities, free from bureaucratic constraints.
CatherineRevolut X is expanding across 30 European markets, offering advanced crypto trading tools and enhanced security. The platform caters to serious traders with access to over 200 cryptocurrencies and low fees, while Revolut also develops a stablecoin for faster cross-border payments.
AnaisA 32-year-old woman has been charged with the murder of Kevin Mirshahi, though any link to his crypto work remains unconfirmed. Presumed dead since August, Mirshahi was recently found and identified by police. He was one of four people kidnapped in June, with only him remaining missing until now.
KikyoAi Palette, a Singapore-based startup, uses AI to analyze billions of data points, providing brands with real-time insights to predict trends and create successful products. Major companies like Diageo, Nestlé, and PepsiCo are adopting its platform to stay ahead of evolving consumer tastes and market demands.
AnaisZK International is adopting cryptocurrency payments, starting with Bitcoin, to improve transaction speed and reduce costs for global trade. This move aims to simplify cross-border payments and provide a more efficient and flexible financial system for its international partners.
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