November 24, 2025 Cryptocurrency Market Trading Dynamics
I. Upcoming Launches / Token Airdrops
- Clanker to Launch on Monad Mainnet
The acquirer of the meme token issuance platform Clanker, Farcaster, announced that Clanker will officially launch on the Monad network tonight at 22:00, following the Monad mainnet launch.
- Bybit Spot Trading for Monad (MON) Launches Tonight
Bybit announced that it will officially launch spot trading for Monad (MON) tonight at 23:00. Monad is a high-performance EVM-compatible Layer 1 public chain, and the market is highly focused on its performance after the mainnet launch.
- Binance Alpha: KO Airdrop Threshold and Refund Mechanism
The Binance Alpha platform opened trading for Kyuzo's Friends (KO) Alpha at 17:00 yesterday (November 23). Users holding ≥256 Alpha points can claim 640 KO airdrops on a first-come, first-served basis, with each claim costing 15 points. If the rewards are not fully claimed, the threshold will automatically decrease by 5 points every 5 minutes.
Previously, due to a system error, some users were mistakenly shown as "claimed." The platform has confirmed that it will fully refund Alpha points to all affected users without requiring any additional action.
- Binance Alpha to Launch Irys (IRYS) Tomorrow
Binance Alpha will launch Irys (IRYS) on November 25, with specific airdrop claiming rules to be announced soon.
- OKX to Launch ZEC Spot Trading Tonight at 20:00
OKX will open spot trading for Zcash (ZEC) tonight at 20:00.
II. Coin-Stock Linkage: Institutions and Countries Continue Accumulating
- El Salvador Buys 1,098.19 BTC in the Past 7 Days
El Salvador continues its daily purchase plan, accumulating a total of 1,098.19 bitcoins over the past 7 days, bringing its total treasury holdings to 7,478.37 BTC, valued at approximately $632 million.
- 68 Entities Have Accumulated 6.29 Million ETH, Accounting for 5.2% of Circulation
Data from StrategicEthReserve shows that 68 entities (including institutions and companies) currently hold approximately 6.29 million Ethereum (about $1.778 billion), accounting for 5.2% of the total circulation. BitMine holds the largest share with 3.56 million ETH.
- NASDAQ-Listed Company Prenetics Increases Holdings by 108 BTC
NASDAQ-listed company Prenetics (in the healthcare sector) has increased its holdings by 108 bitcoins, bringing its total holdings to 498 BTC.
- Strategy: Current Bitcoin Holdings Can Support 71 Years of Dividends
Strategy publicly stated that based on the current Bitcoin price, the company's existing BTC holdings are sufficient to cover dividend payments for the next 71 years; as long as the annualized increase in BTC remains above 1.41%, it can fully cover the annual dividend requirements.
III. This Week's Major Token Unlocks Overview (Total Value Exceeds $300 Million)
According to Token Unlocks data, several projects will experience significant linear/one-time unlocks this week:
- Hyperliquid (HYPE)
Unlocking 9.92 million tokens on November 29 at 15:30, valued at approximately $316.6 million (accounting for 2.66% of circulation).
- Sui (SUI)
Unlocking 43.92 million tokens on December 1 at 08:00, valued at approximately $59.73 million (accounting for 1.19% of circulation).
- Plasma (XPL)
Unlocking 88.89 million tokens on November 25 at 20:00, valued at approximately $17.23 million (accounting for 4.74% of circulation).
- Jupiter (JUP)
Unlocking 53.47 million tokens on November 28 at 22:00, valued at approximately $12.56 million (accounting for 1.69% of circulation).
This week, the unlocking pressure is relatively concentrated, especially with HYPE having the largest single unlock scale. Investors are advised to closely monitor the liquidity and price fluctuations of the related tokens.
The above is the main trading dynamics as of November 24, with the launch of the Monad mainnet and the opening of Bybit MON trading being the biggest focal events of the day.
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