This Week on web3 5min recap

Market information, major news, and fundraising status for 11/16~22.

Good morning.
Mitsui from web3 researcher.

Every Monday is a summary article about the web3 market for the past week.We pick up news from over 20 national and international media outlets and newsletters.Please use it to catch up on information and trends!

💥News Pickup
📊Market &News (L1, L2, DeFi, NFT, GameFi, Other)

💥News Pickup

1,Crypto Asset Market Value Reaches Record $3.2 Trillion

• According to CoinGecko, the value of the global crypto asset market has surpassed $3 trillion

• Donald Trump's victory in the presidential election has spurred buying on the view that regulation could become friendlier and lead to a new boom in crypto assets

• Bitcoin is at the center of trading, up to $93,480 at the foot of the day and hovering around $100,000

2,Coinbase Returns to Top 10 on Apple's App Store in US, Takes #1 Spot in Financial Category as Trump Administration Spikes Virtual Currency.

• Coinbase jumped from #435 on the eve of the U.S. Presidential Election to return to the Top 10 on the U.S. Apple App Store

• Bitcoin-enabled Cash App is currently ranked 30th, while virtual currency and stock trading app Robinhood is ranked 13th

3,Child earns $30,000 in solanamime coins, then cryptocurrency Degen gets revenge

• Supposed teenager creates tokens with Pump fun

• Late Tuesday when his token reached $1 million in market cap, he riled up the holders

• 30,000 and gave the middle finger to everyone watching the live feed, jumping around the room and shouting, "Thanks for the 20 bands!"

• But Crypto Twitter took it personally and immediately took revenge!

• In the next four hours, "GenZ Quant (QUANT)" soared to a market cap peak of $85 million

• If this young man had held until then, his $30,000 (despite his comments, not $20,000 according to on-chain data) would have been worth over $4 million!

4, Two reasons why the altcoin season is about to begin

• AI and meme coins currently account for 50.4% of the cryptocurrency industry's buzz

• This reflects the growing focus on these topics and lays the foundation for momentum in the broader altcoin season

• The current market capitalization of cryptocurrencies, excluding BTC and ETH, stands at $837 billion.This is the highest value since early 2022, reflecting the growing interest in altcoins

• The altcoin market is 35% below its all-time high and remains undervalued compared to the overall cryptocurrency market

• This difference suggests the potential for significant upside as investors turn their money from BTCand ETH into alternative coins

• With interest in new opportunities on the rise, altcoins are expected to see significant growth in the coming weeks, sparking a new alt season this cycle.

5,Magic Eden Announces $ME Talk Nomics

• Magic Eden plans to release native ME tokens within the next few weeks

• The introduction of ME tokens is intended to enrich the Magic Eden ecosystem by encouraging the use of upcoming mobile native trading applications that support cross-chain trading and simplify the experience of buying and selling assets across multiple chains

• Total supply is 1 billion, tokens will be distributed over 4 years, with more than half going to the community

📊Market & News

⛓️L1 Blockchain

Overall market capitalization is flat, but the top tokens, ivia.tech, are rising across the board.

• Ethernet Compatible Layer 1 Monad Begins Test Net Rollout

• Solana DEX trading volume doubles past high

• XRP rises over 20% on favorable regulatory environment and ETF filing

• Bitcoin retail investor demand reaches 52-month high as market momentum builds

• TON Association Launches Global "Hacker League" with $3.5 Million in Prize Money

• Bitcoin Surpasses $96,000, Expects Trump Policies

• Messali Reports TRON Protocol Revenue Reaches Record High in Q3 2024

• What it takes for Ethereum (ETH) prices to catch up with BTC and SOL

• Sui Network restored after experiencing a "major outage" for nearly two hours

⛓️L2 Blockchain

TVL is up 7.77%.

• Chain Activity Reaches Record High, Base Tokens Recover

• Starknet activity reaches highest level since March.

• Consensus decentralizes Linea in new Swiss non-profit

• Zerion's "No Fee" Ethereum Layer 2 ZERO Network Goes Live

• California rules say governance participants are liable for the actions of Lido DAOs

💰DeFi

That's a big increase in one week.

• Elixir Partners with Securitize to Gain BUIDL Liquidity with DeFi Yield

• Securitize Releases sToken, a New Feature Allowing RWA Investors to Manage Assets in DeFi

• DeFi "Thala" on Aptos Recovers Over $25 Million in Negotiations with Hackers

• Spark Liquidity Layer Unleashes Multi-Chain Capabilities for Sky's USDS Stable Coin

• Hyperliquid prepares for token launch

🖼️NFT

Overall, it is down, but I think there was a slight adjustment because it had grown quite a bit in the week before that.

• OpenSea Activity Increases with Token Speculation

• NFT brand Doodles partners with McDonald's for holiday-themed physical and digital collection

• CryptoPunk prices surge as bitcoin gains boost NFT market

• Magic Eden Announces $ME Talk Nomics

🎮GameFi

There are so many projects where the UAW is growing.

Meme

Overall market capitalization is flat, but the top tokens are down a bit over the week.

• Solana helped launch 89% of new tokens as the meme coin craze continues to drive network activity.

• BONK rises as burn event begins, but minimal impact on supply

• TikTok's hottest meme already bringing millions of dollars to virtual currency traders

• Pump Science Integrates DeSci and Meme Coins

• Bitcoin's strategic reserve could become a reality.Why Not DojiCoin, Says Co-Founder

• Child earns $30,000 in solanamime coins, then cryptocurrency Degen gets revenge

Dapps related

• Tether launches "Hadron by Tether," a broad asset tokenization platform.

• Nissan Announces Launch of New NISSAN PASSPORT BETA Membership Service and Plans to Issue Limited NFT5523 Certificates

• PayPal "PYUSD" now transferable between Ethereum and Solana with adoption of layer zero OFT standard

• Tether-backed Quantoz launches MiCA-compliant stabled coins USDQ, EURQ

• Coinbase Returns to the Top 10 in the U.S. Apple App Store and Takes #1 in the Financial Category as Trump Administration Spikes Virtual Currency

• a16z-backed Forta launches firewall offering to block malicious transactions

• Cryptocurrency wallet Phantom surpasses WhatsApp and Instagram in free iPhone app rankings

• Coinbase Wallet Introduces 4.7% APY Reward for USDC Holders

State, Legal & Regulatory Affairs

• JP Morgan predicts 6 changes in virtual currency market under Trump administration

• South Korea's Upbit under investigation for at least 500,000 KYC violations

• British Revolut expands its crypto asset trading platform Revolut X to 30 EU countries

• South Korea Plans to Raise Tax Exemption Limits and Increase Virtual Currency Tax to 20% in 2025

• Russia Proposes 15% Tax on Virtual Currency Revenue from Trading and Mining

• Russia to ban virtual currency mining in some areas during winter

• SEC Chairman Gary Gensler to resign, suggesting President Trump's pro-virtual currency stance

Other

• DMM's web3 business "Seamoon Protocol" cancels project.

• 10 finalists of the ETHGlobal hackathon showcase AI agents, crypto games, DAO tools and more.

• Crypto Asset Market Capitalization Hits Record $3.2 Trillion

• Binance Unveils New Stablecoin Yielding 19.55%

• Trump social networking company in talks to acquire Bakkt

• Goldman Considers Spinning Out Digital Asset Platform

• MicroStrategy to Issue $1.75 Billion Convertible Bonds to Purchase Additional Bitcoin and Other Purposes

• Bernstein Positions Robinhood as "Top Virtual Currency Deregulator," Raises Target Price to $51

• Coinbase delists wBTC as Justin Sun gains influence over the protocol and launches its own wrapped bitcoin token

• Suntory to Adopt NFT, Avalanche for Limited Quantity Beer

• KlimaDAO JAPAN launches carbon credit market demonstration.With support from Optage and Mizuho FG.

• Japanese Yen Stable Coin "JPYC" to be used for health management demonstration

• Coinbase Confirms Exchange Listing, Meme Coin Floki Trading Volume Surges

• Trump's team is considering a new position in the White House to focus on virtual currency policy

• Upbit, South Korea's Leading Crypto Asset Exchange, Handles JASMY Coin

• 21Shares Adds Staking Feature to "Ethereum Core ETP"

• Bitfinex Securities to Offer "Tokenized US Bonds" in El Salvador

• Exploring the Future of AI Agents in Cryptocurrencies, Binance Releases Report

• Two reasons why the altcoin season is about to begin

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This is a summary of the week's news and market information.We had the impression of a week of continued growth, but also a few adjustments.

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Disclaimer：I carefully examine and write the information that I research, but since it is personally operated and there are many parts with English sources, there may be some paraphrasing or incorrect information. Please understand. Also, there may be introductions of Dapps, NFTs, and tokens in the articles, but there is absolutely no solicitation purpose. Please purchase and use them at your own risk.

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🇯🇵🇺🇸🇰🇷🇨🇳🇪🇸 The English version of the web3 newsletter, which is available in 5 languages. Based on the concept of ``Learn more about web3 in 5 minutes a day,'' we deliver research articles five times a week, including explanations of popular web3 trends, project explanations, and introductions to the latest news.

Author
mitsui
A web3 researcher. Operating the newsletter "web3 Research" delivered in five languages around the world.

Contact
The author is a web3 researcher based in Japan. If you have a project that is interested in expanding to Japan, please contact the following:

• X：@web3researchgl

• Telegram：@mitsui0x

*Please note that this newsletter translates articles that are originally in Japanese. There may be translation mistakes such as mistranslations or paraphrasing, so please understand in advance.