Daily Market Wrap | Nov. 28

Hot Topics

• MegaETH reverses its $500M pre-deposit campaign and plans to fully refund users after a series of missteps including failed transactions, KYC system breakdowns, and smart contract errors.
• Bitwise updates its spot Avalanche ETF filing to include staking rewards, becoming the first issuer to offer built-in yields.
• Balancer DAO initiates discussions on an $8M recovery plan to distribute recovered assets to affected liquidity providers after a $110M exploit slashed TVL by two-thirds.

Market Updates

• BitMine Immersion Technologies acquires 14,618 ETH, as Chair Tom Lee predicts ETH reaching $7K-$9K by end-January 2026.
• Kalshi doubles its valuation to $11B in weeks, solidifying a prediction market duopoly bet with Polymarket eyeing $12-15B funding.
• Ethereum raises block gas limit to 60M from 45M boosting capacity ahead of Fusaka upgrade.