Bitcoin is currently priced at $95,642 with -0.22% decrease from the last 24 hours, while Ethereum is at $3,579, down by -2.04% in the past 24 hours. The market's 24-hour long/short ratio in the futures market was almost balanced at 49.8% long versus 50.2% short positions. The Fear and Greed Index, which measures market sentiment, was at 77 yesterday and is at the Extreme Greed level at 78 today. The crypto market is surging with milestones across trading, DeFi, and blockchain innovation. 

Bitcoin futures open interest has reached $60.9 billion, reflecting a 56% surge driven by post-election optimism and heightened institutional demand on platforms like CME. Recent market data shows robust trading volume, emphasizing Bitcoin's growing appeal in regulated financial markets. Ethereum maintained its upward momentum with a 5% weekly gain, supported by $90.1 million in ETF inflows and a 17.8% rise in the ETH/BTC ratio, indicating strengthened investor confidence. Uniswap recorded $38 billion in Layer 2 trading volume, a 12% increase since March, showcasing the rising popularity of efficient scaling solutions. Additionally, Bleap secured $2.3 million in funding to launch a payment app offering 13.2% APY on stablecoins and 2% cashback, highlighting innovation in decentralized finance. 

1. BTC and ETH options contracts worth approximately $10.85 billion are set to expire.

2. TON launched TON Teleport BTC, aiming to integrate Bitcoin liquidity with the TON ecosystem.

3. Uniswap reached a new monthly trading volume high of $38 billion.

 Crypto Fear & Greed Index | Source: Alternative.me 

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Bitcoin futures open interest has surged since Donald Trump won the U.S. presidential election | Source: Coinglass

Since Donald Trump’s election victory on Nov. 5, Bitcoin futures open interest has surged from $39 billion to $60.9 billion. This represents a 56% increase in less than a month, according to Coinglass. The derivatives market has seen record activity, with many traders leveraging positions to capitalize on expected price movements.

Bitfinex analysts describe this growth as organic. They attribute it to market optimism surrounding Trump’s crypto-friendly policies. Significant trading activity occurred near the $94,000 mark, where large sitting orders were filled. Analysts observed a slight reduction in open interest as of Nov. 22 but consider this a normal pullback rather than a sign of market instability.

Bitcoin futures continue to dominate the market. Futures trading volume exceeded $100 billion in the last seven days, with 40% of trades occurring on Binance. Open interest now accounts for over 30% of Bitcoin’s $580 billion market capitalization, signaling significant trader interest.

Source: ETH ETF Flows The Block

Ethereum surged 5% on Nov. 27, reaching $3,600. The ETH/BTC pair climbed 17.8% over the past week to 0.0376. Analysts at QCP Capital predict further gains, with ETH likely to test the 0.04 level soon. This growth signals a capital rotation from Bitcoin to Ethereum, reflecting investor confidence in the Ethereum ecosystem.

Ethereum exchange-traded funds attracted $90.1 million in inflows on Nov. 27. This marked the fourth consecutive day of positive inflows, totaling $317.4 million for the month. The rising demand for ETH-based ETFs highlights renewed interest in Ethereum. Analysts project that ETH could retest its all-time high of $4,868, offering a 35.4% upside from current levels.

The global cryptocurrency market cap now stands at $3.4 trillion. Bitcoin accounts for 54.7%, while Ethereum holds 12.4%. ETH trading volume reached $28.5 billion in the last 24 hours, compared to Bitcoin’s $47 billion. Ethereum’s growing dominance is driven by its expanding ecosystem and increased adoption in decentralized finance and NFTs.

Uniswap saw record monthly volume in November across Ethereum L2s. Source: Dune Analytics

Uniswap recorded $38 billion in monthly volume across Ethereum Layer 2 networks in November, surpassing its previous high of $34 billion set in March. This represents a 12% increase, according to Dune Analytics. Layer 2 networks, including Arbitrum, Polygon, Base, and Optimism, contributed significantly to this growth.

Henrik Andersson, CIO at Apollo Crypto, attributed the rise in Uniswap’s volume to growing onchain yields and increased interest in decentralized finance. Ethereum-based DeFi platforms have seen a surge in activity as ETH/BTC gains strength. Analysts believe this could mark the beginning of a long-awaited DeFi outperformance phase.

Uniswap accounted for 62% of all Ethereum Layer 2 decentralized exchange volume in November. Arbitrum contributed $18 billion to this figure, while Optimism added $8.5 billion. Base and Polygon combined for $5.5 billion. This growth underscores the growing demand for efficient and cost-effective DeFi solutions.

Bleap, created by former Revolut executives, raised $2.3 million in pre-seed funding to develop a blockchain-based payment system. Built on the  Arbitrum Layer 2 network, Bleap enables gasless transactions and integrates a Mastercard debit card for seamless stablecoin payments.

Bleap supports multi-currency accounts with savings rates far exceeding traditional banks. Users can earn 13.2% APY on USD stablecoins and 5.3% APY on EUR stablecoins. The app also allows fee-free global transfers and offers 2% cashback on purchases.

Bleap’s smart wallet eliminates seed phrases by using encrypted backups and multi-party computation. It supports stablecoins like USDC, USDT, USDA, and EURA. Users can add funds from external wallets or purchase stablecoins directly through Bleap’s on and off-ramping service.

In the first half of 2024, stablecoins processed $5.1 trillion in transactions, approaching Visa’s $6.5 trillion over the same period. Analysts at Bitwise highlight stablecoins as crypto’s “killer use case.” Bleap’s system integrates this functionality with seamless real-world usability.

Bleap’s beta program targets EU users, with a full public launch planned for Q1 2025. The app aims to expand into Latin America later in the year. Bleap is also preparing for a proprietary token launch in 2026, which will further enhance its ecosystem.

The cryptocurrency market is surging with activity. Bitcoin futures show record open interest, reflecting trader optimism fueled by Trump’s election. Ethereum is gaining ground, outpacing Bitcoin with rising ETF inflows and a strong ETH/BTC ratio. Uniswap’s record Layer 2 volumes highlight DeFi’s resurgence, while Bleap’s innovative blockchain banking platform sets new standards for usability. These developments underscore the rapid evolution of the crypto space, offering investors opportunities across trading, DeFi, and blockchain-based financial solutions.

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