The Crypto Market Falls 3.1% to $3.55T as Bitcoin and Ethereum Decline, XRP ETF Nears Launch, and EV2 Token Presale Gains Momentum
The cryptocurrency market experienced a mild correction on November 12, 2025, with its total capitalization falling to $3.55 trillion—a 3.1% decline in 24 hours. Both Bitcoin and Ethereum posted losses as traders reacted to market-wide sell-offs and new regulatory developments. Meanwhile, the XRP ETF edges closer to launch, and the EV2 gaming token presale gains significant traction.
### Market Overview and Leading Performers
As of November 12, 2025, Bitcoin was trading at $103,150, down 3.89% in the last 24 hours, with a market capitalization of approximately $2 trillion. Ethereum saw a sharper decline, lowering 5.44% to $3,442 after a trading volume of $38.8 billion.
Despite short-term declines in the prices and market capitalizations of leading cryptocurrencies, the total daily trading volume across all assets remained robust at $176 billion, demonstrating the market’s continued liquidity.
Currently, the cryptocurrency market tracks more than 19,400 digital assets. Bitcoin maintains a dominant market share of 57.9%, followed by Ethereum at 11.7%. Notably, prediction markets and the XRP Ledger ecosystem performed well relative to the general downtrend affecting most altcoins.
### Stablecoin and DeFi Market Movements
Stablecoins have held steady, with a total market capitalization of $312 billion—an increase of 0.3%. The combined trading volume for major stablecoins reached $122 billion, underscoring their ongoing role as liquidity anchors during times of market uncertainty.
In contrast, the DeFi sector experienced a contraction. The market capitalization of decentralized finance (DeFi) dropped 4.1% over the past 24 hours to $129 billion. Total DeFi trading volume stood at $11 billion, representing a 3.6% market share.
This downturn coincides with the recent collapse of several decentralized exchanges, following a surge in activity earlier this month.
### Regulatory and Institutional Developments
Several key announcements shaped the day’s market sentiment:
– **Brazil’s Central Bank Regulations:** The Brazilian central bank introduced new licensing criteria for cryptocurrency businesses, mandating a minimum capital base of $7 million and strict adherence to existing capital controls. These measures aim to enhance oversight while promoting long-term regulatory clarity.
– **Bitcoin Mining Market Outlook:** Marathon Digital CEO, Fred Thiel, addressed investor concerns regarding margin reductions stemming from tightened conditions in the Bitcoin mining sector. He highlighted challenges such as rising energy costs and intensified competition, warning that only miners with favorable leverage or those utilizing AI-driven efficiencies may thrive post the next Bitcoin halving in 2028.
– **Bitwise Chainlink ETF Progress:** Bitwise’s Chainlink ETF, trading under ticker symbol CLNK, was added to the DTCC-eligible securities list. Although this inclusion signals that trading may eventually commence, it does not constitute full regulatory approval. Still, the market views this as an early indication of growing institutional interest in blockchain-based products.
– **Coinbase Withdraws BVNK Acquisition:** Coinbase confirmed it will terminate its proposed $2 million acquisition of BVNK, a UK-based stablecoin company. Both parties mutually agreed to end discussions and halt due diligence, aligning with Coinbase’s broader strategy to refocus on existing global markets and intensify compliance efforts.
### ETF Developments and Corporate Expansions
Market participants are closely watching the anticipated approval of an XRP Spot ETF. Canary Capital recently submitted its final registration—a Form 8-A filing to Nasdaq—signaling preparations to launch the ETF. This would become the second XRP ETF under the REX-Osprey umbrella, highlighting continued diversification in digital asset-backed financial products.
In other news, Tether announced it had increased its gold-backed reserves to $12 billion. The company has hired former HSBC gold traders Vincent Domien and Mathew O’Neill to head its expanding bullion division. This move supports Tether’s strategy to diversify reserves beyond cash equivalents and U.S. Treasuries.
Additionally, Lightner, a Layer 2 decentralized exchange (DEX) built on Ethereum, raised $68 million from Founders Fund and Ribbit Capital. This funding round valued the company at $1.5 billion. Lightner plans to expand liquidity infrastructure and introduce spot trading to stay competitive within the rapidly evolving DeFi ecosystem.
Reports also indicate significant activity from mining companies: Canaan completed its largest order in three years; TON is deploying AI across all mining nodes; and Bitdeer has tripled its capacity thanks to favorable regional regulatory developments. These efforts reflect ongoing investments in blockchain infrastructure amid stable market conditions and pricing corrections.
### EV2 Token Presale and Gaming Integration
Funtico’s EV2 Token presale has garnered substantial interest as part of the company’s expansion into Web3 gaming. The EV2 Token, created on the Avalanche blockchain, will serve as the in-game currency for the upcoming EV2 title. Players will be able to earn tokens, purchase in-game items, and trade NFTs within a dedicated marketplace.
The presale offers tokens at $0.01 each, with approximately 1.15 billion tokens available. Around 40% of the total supply is earmarked for investors. The game’s roadmap includes full NFT integration, tournaments, and a gaming rewards platform slated for November 2025. A multi-platform ecosystem launch is also planned.
According to the project’s whitepaper, EV2 prioritizes accessibility and fairness, granting players true ownership of digital assets verified through blockchain ledger technology. The initiative aims to build a secure, scalable environment that merges gaming and decentralized finance, leveraging Avalanche’s high throughput and low transaction fees.
### Conclusion
The market update from November 12, 2025, reflects a delicate balance amid regulatory tightening, growing institutional adoption, and innovative blockchain projects—all occurring alongside ongoing market volatility.
As the crypto ecosystem evolves, key developments such as progress toward an XRP ETF, Tether’s bullion diversification strategy, and the EV2 gaming initiative illustrate the dynamic landscape of digital assets and their expanding use cases.
https://bitcoinethereumnews.com/bitcoin/bitcoin-and-ethereum-retreat-as-xrp-etf-nears-launch-ev2-token-presale-gains-traction/
