Daily Market Wrap | Nov. 24

Hot Topics

• U.S. spot Bitcoin ETFs hit a record $40.32B trading volume last week, led by BlackRock's IBIT at $27.79B, amid a 23% BTC price drop to $86,700 and $3.55B redemptions signaling institutional capitulation.
• NYDIG reports $3.55B spot Bitcoin ETF outflows in November, declining stablecoin supply (USDE down nearly 50% since October), and DAT share discounts signal aggressive crypto capital flight.
• Grayscale's GDOG and GXRP ETFs launch Nov. 24.

Market Updates

• Wormhole Labs launches Sunrise gateway to streamline token imports from any chain into Solana, coinciding with Monad's mainnet debut and MON token launch for enhanced ecosystem liquidity.
• Cardano splits due to developer's malformed delegation exploiting 2022 bug.