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Solana Spot ETFs Strong Inflows Signal Sustained Institutional Interest

By
Paul Ugbede Godwin
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0

Solana (SOL) spot ETFs is spot on—yesterday’s net inflows of $55.61 million indeed mark one of the strongest single-day hauls in recent weeks, pushing the streak of consecutive positive flows to 16 days.

This resilience stands out especially as Bitcoin ETFs saw modest gains ~$75.47M inflows while Ethereum ETFs continued bleeding $37.35M outflows, their seventh straight day. Let’s break it down with the latest data and context.

$55.61M net, the highest since early November amid broader market volatility SOL dipped ~18% over the prior week but has since stabilized around $130. Bitwise’s BSOL led the pack with $35.87M in fresh inflows, bringing its cumulative total to ~$424M since launch. This underscores BSOL’s dominance in the category, capturing over 60% of yesterday’s action.

Fidelity (FSOL): ~$2.1M. Grayscale: ~$28.5M (though some reports vary slightly on daily splits). VanEck (VSOL): ~$1.8M. Cumulative inflows now exceed $476M across all U.S.-listed Solana spot ETFs, with assets under management (AUM) hitting $715M.

No outflows recorded since inception— a clean streak reflecting steady demand for regulated SOL exposure. This surge aligns with a flurry of product launches, amplifying accessibility.

21Shares’ TSOL debut officially listed on CBOE yesterday with $100M+ seed capital and built-in staking rewards—its first-day volume hit $400K, signaling quick traction despite no net flows yet.

The 16-day streak totaling ~$421M–$476M contrasts sharply with BTC/ETH trends, hinting at Solana’s appeal as a high-throughput alternative for DeFi, NFTs, and real-world apps. Institutional players like Fidelity and VanEck are betting big, with projections for $5B+ in total SOL ETF inflows by mid-2026.

SOL’s price held firm post-inflows, up ~2% intraday, though analysts eye resistance at $205. Polymarket odds for $300 by year-end sit at just 1%, but ETF “stickiness” could fuel a BTC-like rally if adoption accelerates.

If this is from a specific source or you’re tracking for trading signals, it’s a bullish indicator for SOL amid “extreme fear” in broader crypto sentiment. This isn’t just a blip; it’s a signal of decoupling from broader crypto sentiment, where SOL’s high-throughput blockchain is carving out a niche as an institutional favorite.

While SOL’s price has dipped ~14% over the past week to around $141 recovering slightly to $141.26 intraday, these flows suggest accumulation rather than panic selling. Unlike BTC/ETH, SOL’s ETF streak zero outflows since launch highlights investor rotation into “Ethereum killers” with real utility.

Inflows often lag price action—ETFs buy SOL gradually via custodians, not spot pumps—explaining the recent 20% bleed despite $421M+ weekly highs earlier in November. Analysts see this as “smart money” accumulation at lows, with historical patterns pointing to potential rebounds to $200–$250 if inflows hold.

SOL’s break below $140 tested $130 support, but positive MACD flips and 5% futures open interest growth ($7.3B) signal buyer re-entry. A clean hold above $130 could target $180–$200; a drop below risks $85–$55 liquidity zones.

Long positions make sense if daily inflows exceed $50M, eyeing 10–15% upside—mirroring BTC ETF launches—but pair with stops at $130. The flurry of launches now six U.S. ETFs, including 21Shares’ TSOL at 0.21% fee, Fidelity’s FSOL at 0.25%, and VanEck’s fee-free VSOL until $1B AUM underscores SEC’s thawing stance under updated 2025 guidance.

This rivals BTC/ETH debuts, with projections for $5B+ total SOL ETF AUM by mid-2026, drawing pension funds and advisors wary of direct custody. BSOL’s $35.87M haul 60%+ of daily total, $388M cumulative reflects first-mover edge and staking yields (5–7% APY), pulling ahead of Grayscale’s GSOL ($28.5M). This competition could slash fees further, boosting accessibility and TVL in Solana DeFi already up 20% YTD to $10B+.

Inflows signal SOL as a “high-conviction” play for diversified portfolios, potentially spilling into related assets like HBAR or LTC ETFs. Hong Kong’s ChinaAMC SOL ETF adds global tailwinds. SOL ranked #2 in 2025 developer inflows 11,500+ new devs, 29% YoY growth, powering dApps in payments, gaming, and RWAs.

ETF staking via Marinade Finance could lock 10–15% more SOL, reducing sell pressure and enhancing security. Higher ETF volumes $400K+ for TSOL debut improve spot-futures arbitrage, drawing retail via brokers like NYSE Arca. This could accelerate Solana’s edge over ETH in TPS for DeFi/NFTs, with daily active users up 15% MoM.

In a high-rate environment Fed signaling no quick cuts, SOL’s utility narrative shines—low fees appeal for real-world apps like Mastercard’s self-custody debit card tie-in. ETF “success” hasn’t stemmed macro bleed like BTC below $100K dragging alts, with SOL’s RSI oversold but derivatives funding rates flipping positive only recently.

A first outflow day could trigger 10–20% drops to $100. Lingering SEC scrutiny on Solana’s past outages or classification as security could cap inflows. Broader crypto outflows $37M ETH yesterday highlight rotation risks if BTC rebounds.

“Extreme fear” indexes persist; if inflows dip below $10M, it signals waning conviction. These inflows position SOL for a “second-wave” ETF narrative, legitimizing it as more than a meme chain—think scalable infrastructure for Web3’s next phase.

Short-term charts stay risky, but the 16-day streak screams undervaluation at $131. For bulls, it’s accumulation season; bears, watch for macro cracks. Bullish on SOL’s rebound, or hedging with BTC?

GANA Payment Reportedly Exploited for $3.1M

By
Paul Ugbede Godwin
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0

Blockchain investigator ZachXBT a prominent on-chain sleuth with over 930,000 followers on X, known for exposing scams and hacks disclosed a major security breach targeting GANA Payment, a decentralized payment protocol built on the BNB Smart Chain (BSC).

The exploit resulted in the theft of over $3.1 million in digital assets, primarily from the project’s smart contracts. This incident highlights ongoing vulnerabilities in smaller DeFi projects on BSC, which have seen collective losses exceeding $100 million in exploits throughout 2025.

GANA Payment is a BEP-20 token-based project focused on facilitating crypto transactions and payments via liquidity pools and decentralized exchanges. It lacks publicly documented security audits, which likely contributed to the breach— a common issue in mid-sized protocols where rushed deployments outpace thorough vetting.

The hack occurred earlier on November 20, 2025, draining funds from GANA’s contracts on BSC. Approximately $3.1 million, including BNB and other tokens. The GANA token price plummeted over 90% within 24 hours, as tracked by GeckoTerminal, erasing significant market value and eroding user confidence.

The attacker executed the exploit swiftly, consolidating stolen funds into a single wallet before initiating laundering. Specific on-chain movements include: Swapping portions of the loot into BNB. Depositing 1,140 BNB valued at ~$1.04 million into Tornado Cash on BSC to obfuscate the trail.

Bridging the remainder to Ethereum, where 346.8 ETH ~$1.05 million was deposited into Tornado Cash’s Ethereum mixer. An additional 346 ETH ~$1.046 million remains dormant in the Ethereum address 0x7a5…b3cca, with no further activity reported as of the latest updates.

This cross-chain laundering tactic is a hallmark of sophisticated attackers, exploiting bridges and mixers to hinder tracking. ZachXBT’s analysis, shared via his Telegram channel, provided the initial transaction traces that alerted the community.

Attacker’s Actions and Laundering

The exploiter’s post-hack behavior followed a predictable pattern seen in recent BSC incidents. All stolen assets funneled to one address for efficiency. Direct deposit to Tornado Cash to break on-chain links.

Cross-Chain Bridge: Transfer to Ethereum for further mixing, leveraging lower scrutiny on ETH-based tools. Leaving a portion untouched, possibly awaiting market conditions or to avoid immediate flags.

No arrests or fund recoveries have been announced, though BNB Chain has recently partnered with ZachXBT to enhance exploit investigations across its ecosystem. This collaboration could aid in future tracing efforts.

This hack adds to a troubling trend of mid-sized exploits on BSC in 2025, including the $2 million New Gold Protocol breach in September and smaller incidents totaling over $100 million in losses. Similar vulnerabilities—such as unpatched smart contract flaws or liquidity pool drains—have plagued projects like Balancer which lost $120 million in a November exploit affecting forks across chains.

Key takeaways for DeFi users and builders: Prioritize Audits: Projects without multiple, reputable audits (e.g., from PeckShield or Certik) are high-risk. Monitor On-Chain Activity: Tools like Etherscan or BscScan can flag unusual wallet behaviors early.

Diversify Exposure: Avoid over-concentration in unaudited tokens; use hardware wallets for storage. Sleuths like ZachXBT underscore the value of transparent reporting—follow verified investigators to stay ahead of threats.

If you’re holding GANA or similar BSC assets, consider withdrawing to safer chains or stables amid the fallout. Monitor On-Chain activity or check ZachXBT’s channels. This event reinforces that while DeFi offers innovation, security remains its Achilles’ heel.

Fusepay Launches in Seychelles, Marks First Digital Payment Transaction

By
Ojukwu Emmanuel
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0

Fusepay, a Payment Service Provider in Seychelles focused on creating a digital finance hub for frontier markets, has officially launched in Seychelles and completed its first live business transaction, marking a major step in replacing paper cheques with fully digital payments.

The company announced this feat via a post on Linkedin stating that the launch comes at a crucial moment, as Seychelles begins phasing out paper cheques.

Part of the post reads,

“Fusepay is live in Seychelles. Today we made our first transaction. Fusepay was created to solve a long-standing problem in Seychelles. Businesses still rely on outdated payment systems that waste time, increase costs, and create opportunities for fraud and embezzlement. There has been no modern alternative for retailers, wholesalers, and service providers. Over the past eighteen months, we have been working to change this. From fundraising to assembling a committed team to bringing in supportive investors at Pre-seed to securing our license to operate, the journey has been both rewarding and challenging.

“We begin with a critical and urgent problem. Seychelles is sunsetting paper cheques. Fusepay is launching virtual accounts, focusing on post-dated digital payments as a faster, safer, and more transparent alternative. Our mission is simple. Help businesses save time, save money, and prevent fraud. We are committed to building the best payments and finance experience for Seychelles and other frontier markets.”

Also commenting, the company’s co-founder Vidhyasahar Thiyagarajan expressed excitement about the milestone, celebrating the company’s first live transaction as a major leap forward for digital payments in Seychelles.

According to Thiyagarajan, Fusepay was born out of the frustration he and co-founder Francesco Rocchi experienced watching their parents struggle to make even simple payments for their retail and wholesale businesses. The time wasted, the financial losses, and the ease with which payment fraud and embezzlement occurred highlighted a deeply rooted problem in the existing payment system.

Over the past eighteen months, the founders embarked on a demanding but rewarding journey, raising funds, building a strong and committed team, onboarding supportive pre-seed investors, and securing the company’s license to operate.

Led by Vidhyasahar Thiyagarajan and Francesco Rocchi, Fusepay was co-founded in June 2024 and is poised to modernize business payments across Seychelles and potentially the wider Indian Ocean region. Many businesses in Seychelles still rely on cash transactions, manual bookkeeping, and paper cheques, which create significant operational costs, delays, and exposure to fraud. Fusepay aims to digitize these processes, providing businesses with tools to streamline payments, manage invoices, and track cash flows more efficiently.

Earlier this year, the Fintech announced the close of a $350,000 pre-seed funding round to transform payments and financial operations for underserved Indian Ocean islands. The fintech is backed by global early-stage investors, including First Check Ventures, Hustle Fund, and Startup Istanbul.

One of Fusepay’s key products, FuseCheq, is tailored for retail and wholesale businesses that currently rely on post-dated physical cheques. With FuseCheq, companies can schedule secure digital payments while gaining full traceability and reducing operational overhead. This product aligns with broader government efforts in Seychelles to phase out paper cheques and encourage digitised, transparent financial practices.

The company’s mission is to simplify and secure financial transactions in regions traditionally reliant on cheques, manual transfers, and cash-heavy operations.

Coinbase Launches ETH-Backed Loans As Polymarket Odds on Monad’s TVL Intensify

By
Paul Ugbede Godwin
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0

Coinbase announced on November 20, 2025, the rollout of ETH-backed loans for eligible U.S. users excluding New York residents, allowing them to borrow up to $1 million in USDC against their Ethereum holdings without selling the asset.

This feature, powered by the on-chain lending protocol Morpho and deployed on Coinbase’s Base Layer 2 network, integrates seamlessly into the Coinbase app interface while leveraging DeFi infrastructure for execution.

Users deposit ETH as wrapped ETH or WETH to receive USDC instantly. The maximum loan-to-value (LTV) ratio is 75%, with liquidation triggered at 86% to mitigate volatility risks.

No Fixed Repayment: Loans have variable interest rates and no set due date, as long as the LTV remains healthy—ideal for users seeking liquidity for investments, diversification, or expenses without triggering taxable events.

Support for staked ETH converted to Coinbase’s cbETH is coming soon, building on the existing BTC-backed loan product, which recently increased its cap to $5 million.

Coinbase’s overall on-chain lending has already originated over $1.25 billion in loans against $1.38 billion in collateral, with $810 million outstanding across 13,500+ active wallets.

This move deepens Coinbase’s CeDeFi centralized-decentralized finance offerings, bridging traditional borrowing with blockchain assets. It follows the BTC loan launch earlier in 2025 and signals broader asset support ahead, potentially accelerating ETH’s utility in real-world finance.

Community reactions on X highlight excitement around tax-efficient liquidity and DeFi accessibility, with posts noting the “CeDeFi bank” potential.

Polymarket Odds on Monad’s MON Token Opening Below $3B FDV Surpass 50%

Prediction market platform Polymarket has seen the odds for Monad’s upcoming MON token launching with a fully diluted valuation (FDV) below $3 billion exceed 50% as of November 21, 2025.

This threshold crossing reflects growing trader skepticism amid Monad’s public sale hype and pre-market dynamics.

$3B bin shows exactly 50% “Yes” probability for FDV exceeding $3 billion one day post-launch implying 50% chance of below. Broader bins indicate: $2B FDV: ~60-70% “Yes” suggesting ~30-40% below $2B. Public sale commitments: 93% chance of >$300M total, 83% for >$400M, but only 40% for >$600M—hinting at tempered expectations for overall valuation.

The high-performance EVM-compatible Layer 1 chain is running a public token sale on Coinbase, with pre-market trading hitting recent lows. Traders are betting on launch by mid-2026 if not sooner, but volatility in commitments (e.g., arbitrage opportunities across platforms like Kalshi) has pushed lower-FDV outcomes into focus.

X discussions tie this to broader L1 token fatigue, with some viewing the 50%+ odds for sub-$3B as a hedge signal against overvaluation. No airdrop is confirmed yet, but bets on one by November 25 stand at low odds ~10-20%.

These developments underscore crypto’s maturing prediction ecosystem, where platforms like Polymarket aggregate crowd wisdom on tokenomics.

Circle (CRCL) Stock Returns to IPO Price Amid JESSE Launch on Base

By
Paul Ugbede Godwin
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0

Circle Internet Group (NYSE: CRCL), the issuer of the USDC stablecoin, has indeed circled back to its initial public offering (IPO) price amid a broader crypto market pullback.

The company went public on June 5, 2025, pricing shares at $69—above the initial expected range of $50–$52—raising $1.1 billion and debuting with a fully diluted valuation of $6.8–$8 billion.

Shares surged to an all-time high of $298.99 shortly after, fueled by crypto hype, but have since erased nearly all gains, closing at around $69.72 on November 19, 2025, and trading near $66–$68 as of November 21.

Key drivers of the decline include; Interest rate sensitivity: Circle’s revenue is heavily tied to yields on USDC reserves primarily short-term U.S. Treasuries. Management’s warnings about potential Federal Reserve rate cuts have spooked investors.

Insider selling and lockup expirations: Post-IPO hype led to a surge, but unlocking shares allowed insiders to sell, triggering a “sell-the-news” event after strong Q3 earnings 66% revenue growth, accelerating USDC circulation.

Broader crypto volatility, with Bitcoin capitulation at record levels, has amplified the drop. CRCL is down ~77% from its peak and ~40% in the last month. Despite the slump, analysts remain bullish: 17 firms rate it a “Buy” with a $144.92 12-month target (117% upside).

Institutional interest persists, with ARK Invest adding 215,000 shares recently. On X, traders are calling it a “full circle jerk” or “brutal reminder of IPO volatility,” but some see value for long-term stablecoin adoption.

CRCL’s fundamentals—USDC’s second-largest stablecoin status and revenue diversification—suggest this could be a buying opportunity if crypto rebounds, though volatility remains high.

Jesse Pollak Launches JESSE Token on Zora, Peaks at $26M Market Cap

Jesse Pollak, founder of Coinbase’s Base Layer-2 network, launched the $JESSE “creator coin” on Zora—a protocol for tokenizing social content—on November 20, 2025, at 9:00 AM PST.

Marketed as a playful experiment tying his personal brand to Base’s ecosystem, it quickly went viral but faced immediate bot sniping and volatility. Contrary to some early reports citing $7M peaks, on-chain data and trader chatter confirm it hit a high of ~$26M market cap within hours, driven by thousands of buy transactions before cooling.

Minted via Pollak’s Base app account on Zora, which auto-generates tradable tokens from posts. $JESSE builds on his prior “content coin” experiments, like the controversial “Base is for everyone” (BASE) mint in April 2025.

Pollak warned of impersonators pre-launch. It surged on speculation but saw rapid dumps, with X users noting “uphill battles” for late buyers. Ties to Zora’s $5.8B token up 18.9% amid the buzz amplified interest.

This fits Pollak’s pattern of Zora shilling—90% of his recent Base tokens have dropped 60%+—drawing fire for potential hype over substance. Coinbase Ventures’ backing of Zora ($60M raised) fuels debates on whether it’s innovation or “profit play.”

Post-peak, $JESSE trades lower (~$10–15M cap estimates from DEX tools like Dexscreener), with ongoing activity in ZORA/ETH pools. It’s community-driven with light utility for Base engagement, but expect meme-like swings.

On X, reactions range from excitement “fastest-moving on Base” to skepticism “another pump-and-dump?”. These events highlight crypto’s wild duality: institutional stability (CRCL) clashing with experimental memes ($JESSE). Both underscore Base/Zora’s growing role in tokenized culture, but DYOR—volatility is the only constant.

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