&lt;p&gt;Bitwise has uplisted its 10 Crypto Index Fund from the over-the-counter (OTC) market to NYSE Arca. This move signals a new phase in the evolution of regulated crypto investment products, giving investors easier access, greater transparency, and the familiarity of a national securities exchange environment.&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_69391c07241e4.png&quot; alt=&quot;Bitwise uplisted its 10 Crypto Index Fund to NYSE Arca.&quot; width=&quot;615&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;p&gt;Image Source: &lt;a href=&quot;https://x.com/BitwiseInvest/status/1998392196295262384&quot; target=&quot;_blank&quot; rel=&quot;noopener&quot;&gt;Bitwise&lt;/a&gt;&lt;/p&gt;
&lt;h1&gt;From Niche Corner to Main Stage&lt;/h1&gt;
&lt;p&gt;For years, many crypto-related funds have traded on OTC venues, where liquidity is typically lower, spreads are wider, and visibility is limited compared to major exchanges. Uplisting to NYSE Arca marks a shift from a niche corner of the market to a larger, more established stage. Investors who were previously hesitant to engage with OTC products may now feel more confident trading a crypto index fund listed on an exchange they already know and use. The Bitwise 10 Crypto Index Fund is designed to track the performance of a basket of the largest cryptocurrencies, offering diversified exposure in a single ticker rather than forcing investors to buy and manage multiple individual assets on different platforms. By moving to NYSE Arca, the fund now stands alongside more traditional ETFs and exchange-listed products, symbolizing how far digital assets have come in terms of institutional acceptance and infrastructure.&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_69391cbbe4239.jpg&quot; alt=&quot;Bitwise uplisted its 10 Crypto Index Fund to NYSE Arca.&quot; width=&quot;300&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;h1&gt;What this Means for Investors&lt;/h1&gt;
&lt;p&gt;The uplisting has practical implications for investors. Trading on NYSE Arca typically brings tighter bid&amp;ndash;ask spreads, deeper liquidity, and more efficient price discovery over the course of the trading day. For both retail and professional investors, this can translate into better execution quality and a smoother trading experience. It also enhances operational convenience. Investors can buy and sell shares of the Bitwise 10 Crypto Index Fund through regular brokerage accounts, just like they would with stocks or traditional funds. There is no requirement to open an account on a crypto exchange, manage private keys, or worry about the security of direct token custody. For financial advisors, this structure makes it easier to incorporate crypto exposure into client portfolios within existing workflows and compliance frameworks.&lt;/p&gt;
&lt;h1&gt;A Signal for the Maturing Crypto Market&lt;/h1&gt;
&lt;p&gt;Bitwise&amp;rsquo;s uplisting move carries symbolic weight beyond a single product. It reinforces the narrative that digital assets are recognizable asset class with regulated vehicles, audited structures, and established market infrastructure. The presence of a multi-asset crypto index fund on NYSE Arca reflects a growing demand for diversified, rules-based exposure rather than narrow bets on single tokens. Investors can now participate in the crypto market through a format that looks and feels familiar, while the underlying assets remain part of the rapidly evolving Web3 and blockchain economy. This bridge between old and new finance is likely to become even more important as institutional participation increases and regulatory clarity slowly improves.&lt;/p&gt;
&lt;h1&gt;Future Outlook&lt;/h1&gt;
&lt;p&gt;The uplisting of Bitwise&amp;rsquo;s 10 Crypto Index Fund could encourage more issuers to pursue similar paths for multi-asset crypto products. If trading activity and investor interest prove robust on NYSE Arca, it may strengthen the case for broader acceptance of index-style crypto funds alongside spot bitcoin and ether products. Over time, this might lead to more specialized indices offered in structures that trade on major exchanges.&lt;/p&gt;

Bitwise uplisted its 10 Crypto Index Fund to NYSE Arca

&lt;p&gt;The U.S. Commodity Futures Trading Commission (CFTC) has unveiled a crypto pilot program focused on tokenized collateral for derivatives markets. Announced on December 9, 2025, this initiative aims to test the waters for integrating blockchain-based real-world assets (RWAs) into traditional futures and swaps trading, potentially unlocking trillions in efficiency gains. It&#039;s a bold step from the regulator long seen as crypto&#039;s tough cop, signaling a pragmatic embrace of innovation amid Wall Street&#039;s tokenization frenzy.​&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_6937b8ecb89fc.png&quot; alt=&quot;CFTC has unveiled a crypto pilot program focused on tokenized collateral&quot; width=&quot;591&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;p&gt;Image Source: &lt;a href=&quot;https://x.com/CFTC/status/1998141468993556785&quot; target=&quot;_blank&quot; rel=&quot;noopener&quot;&gt;CFTC&lt;/a&gt;&lt;/p&gt;
&lt;h1&gt;What the Pilot Program Entails&lt;/h1&gt;
&lt;p&gt;The program allows select clearing members and derivatives clearing organizations (DCOs) to experiment with tokenized versions of traditional collateral on permissioned blockchains. Participants can post and manage margin requirements using smart contracts, with atomic settlement slashing settlement times from T+1 to near-instant. The CFTC&#039;s lab-style setup includes strict guardrails: initial tests limited to $500 million in notional value, real-time risk monitoring via oracles, and mandatory stress testing against black swan events.&lt;/p&gt;
&lt;p&gt;CFTC Chair Rostin Behnam highlighted the program&#039;s dual focus during a virtual press briefing: &quot;We&#039;re not just theorizing; this is about proving tokenized collateral can enhance liquidity, reduce costs by up to 90%, and mitigate counterparty risks in our $20 trillion derivatives market.&quot; Early partners include heavyweights like CME Group, which will pilot tokenized T-bills on its clearinghouse, and blockchain firms such as Circle and Securitize providing the tech backbone with USDC-backed wrappers.​&lt;/p&gt;
&lt;h1&gt;Timing Meets Market Momentum&lt;/h1&gt;
&lt;p&gt;This launch comes at a pivotal moment. Tokenized RWAs have exploded in 2025, with BlackRock&#039;s BUIDL fund alone surpassing $5 billion AUM and total on-chain treasuries hitting $15 billion across Ethereum and Solana. Derivatives markets, handling over 80% of global trades, have been bottlenecked by legacy systems&amp;mdash;manual reconciliations, siloed collateral, and haircuts eating into capital efficiency. The pilot taps into post-FTX reforms, building on the CFTC&#039;s 2024 digital asset recommendations and aligning with the SEC&#039;s own tokenized securities pilots.&lt;/p&gt;
&lt;h1&gt;Implications&lt;/h1&gt;
&lt;p&gt;For crypto natives, it&#039;s validation: tokenized collateral could onboard institutional giants, boosting demand for stablecoins and Layer 2s like Base and Arbitrum. Expect a surge in hybrid products. But risks loom: smart contract bugs, oracle failures, and regulatory whiplash if pilots flop. Critics worry about centralization, with CFTC oversight potentially stifling permissionless innovation. Still, success here could pave the way for broader CFTC nods to spot crypto ETFs and DeFi clearing. As Behnam put it, &quot;Tokenization isn&#039;t the future, it&#039;s the present we&#039;re stress-testing today.&quot;&lt;/p&gt;
&lt;h1&gt;Future Outlook&lt;/h1&gt;
&lt;p&gt;The pilot kicks off Q1 2026 with six-month phases, expanding based on data. Shares in blockchain enablers like Chainlink (up 8% pre-market) and Ondo Finance spiked on the news. Crypto Twitter is alight, with #CFTCPilot trending alongside memes of Behnam as a reluctant bull. This is a regulatory green light for the token economy. If it delivers, derivatives markets could look unrecognizably efficient by 2030.&lt;/p&gt;

CFTC has unveiled a crypto pilot program focused on tokenized collateral

&lt;p&gt;Binance has secured a full suite of licenses from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), marking a major milestone in its effort to operate as a fully regulated crypto player in the Middle East and North Africa (MENA) region. This development elevates the exchange from a provisional or restricted status to a fully authorized entity permitted to offer a broad range of digital asset services under Abu Dhabi&amp;rsquo;s robust regulatory framework. For the global crypto industry, it signals a renewed push toward compliance, transparency, and institutional adoption at a time when regulators worldwide are tightening oversight.​&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_69368048f4057.png&quot; alt=&quot;Binance has secured a full suite of licenses from the FSRA of Abu Dhabi&amp;nbsp;&quot; width=&quot;398&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;p&gt;Image Source: &lt;a href=&quot;https://x.com/binance/status/1997878804526559648&quot; target=&quot;_blank&quot; rel=&quot;noopener&quot;&gt;Binance&lt;/a&gt;&lt;/p&gt;
&lt;h1&gt;What the FSRA Approval Means&lt;/h1&gt;
&lt;p&gt;The FSRA, the regulator of ADGM, is known for its comprehensive and relatively mature virtual asset regime. Granting Binance a complete set of licenses suggests the exchange has met stringent criteria across capital adequacy, governance, risk management, anti-money laundering, and consumer protection standards. In practice, this allows Binance to operate as a regulated virtual asset service provider in Abu Dhabi, offering services such as trading, custody, brokerage, and possibly derivatives and institutional products, depending on the exact license categories granted.​ For users and institutions, FSRA authorization provides an additional layer of comfort that operations are supervised within a clear legal framework rather than in regulatory gray zones. It also aligns with the UAE&amp;rsquo;s broader push to position itself as a global digital asset and fintech hub, attracting both startups and large players under a credible regulatory umbrella.​&lt;/p&gt;
&lt;h1&gt;Impact for Binance and the Region&lt;/h1&gt;
&lt;p&gt;For Binance, this full licensing package in Abu Dhabi is strategically significant on multiple fronts. First, it deepens the exchange&amp;rsquo;s footprint in the Gulf, complementing its presence in other regional centers and offering a regulated base from which to serve both local and international clients. Second, it helps counterbalance regulatory pressure in some Western markets by demonstrating a concrete willingness to work within strict supervisory regimes and adapt its compliance standards accordingly.​&lt;/p&gt;
&lt;p&gt;For the UAE and the wider MENA region, Binance&amp;rsquo;s fully licensed status reinforces Abu Dhabi&amp;rsquo;s ambition to become a key institutional gateway for digital assets. Regulated exchanges can support the onboarding of banks, family offices, funds, and corporates that may have been cautious about engaging with the crypto market through unregulated venues. The move could encourage more global crypto firms to seek licensing in ADGM, further strengthening its ecosystem and creating competition that benefits users through better services, deeper liquidity, and more innovative products.​&lt;/p&gt;
&lt;h1&gt;User Protection and Market Confidence&lt;/h1&gt;
&lt;p&gt;A full suite of licenses from the FSRA typically carries strict obligations around KYC, AML, sanctions screening, reporting, and operational resilience. That means users transacting with Binance under the Abu Dhabi regime can expect higher standards of onboarding, transaction monitoring, and fund protection than in unregulated environments. While this may introduce more verification steps for customers, it also reduces counterparty and regulatory risks, which is crucial for institutional investors and high-net-worth individuals.​ The licensing also sends a broader signal to markets: large exchanges can evolve into regulated financial infrastructure rather than remaining on the fringes of the system.&amp;nbsp;&lt;/p&gt;
&lt;h1&gt;Global Crypto Regulation&lt;/h1&gt;
&lt;p&gt;Binance&amp;rsquo;s licensing win in Abu Dhabi is part of a wider realignment in global crypto regulation. Jurisdictions that provide clear, workable rules for digital asset businesses are attracting serious industry players, talent, and capital, while those with prolonged uncertainty risk losing relevance. By achieving full regulatory recognition in a major financial center like ADGM, Binance underscores that the future of large-scale crypto operations lies in regulated, transparent, and institution-ready environments rather than regulatory arbitrage.​ As the industry matures, the Abu Dhabi model may serve as a reference point for other markets seeking to balance growth and investor protection. ​&lt;/p&gt;

Binance has secured a full suite of licenses from the FSRA of Abu Dhabi 

&lt;p&gt;Aster has rolled out its 2026 H1 roadmap, signaling a massive pivot from rapid expansion to full-blown infrastructure dominance. After a whirlwind 2025 packed with mergers, TGE, mobile apps, and CEX listings, the team is gunning for Layer-1 independence and community-driven growth. This is a blueprint for turning Aster into a DeFi powerhouse.​&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_693298e791a3a.png&quot; alt=&quot;Aster has unveiled its 2026 H1 roadmap&quot; width=&quot;293&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;p&gt;Image Source: &lt;a href=&quot;https://x.com/Aster_DEX/status/1996533851393560688&quot; target=&quot;_blank&quot; rel=&quot;noopener&quot;&gt;Aster&lt;/a&gt;&lt;/p&gt;
&lt;h1&gt;2025 Milestones&lt;/h1&gt;
&lt;p&gt;Aster&#039;s team didn&#039;t mince words: 2025 was their breakout year. The Astherus-ApolloX merger fused expertise, the token generation event unlocked liquidity, a slick mobile app hit app stores, and listings on top exchanges like XT and MEXC drew crowds. Market watchers like Lucas Hart called it &quot;unusually paced delivery&quot; for a project still building core tech. These wins built momentum, with $ASTER whales scooping up millions amid buyback burns worth $80M just days ago. Now, eyes are on execution as Aster shifts gears.​&lt;/p&gt;
&lt;h1&gt;December Sprint&lt;/h1&gt;
&lt;p&gt;Early this month, Shield Mode rolls out for privacy-shielded high-leverage trades using zero-knowledge tech, perfect for whales dodging front-runners. TWAP strategies follow, slicing slippage via time-weighted average pricing for pro traders. Mid-month brings RWA stock perpetual upgrades, expanding futures to real-world assets with deeper liquidity. Capping it off: the Aster Chain testnet by month-end, inviting community stress-testing before Q1 liftoff. These tweaks promise smoother UX and beefier markets right now.​&lt;/p&gt;
&lt;h1&gt;Q1 2026&lt;/h1&gt;
&lt;p&gt;Aster Chain L1 mainnet in Q1 2026. Ditching multichain dependency, this custom Layer-1 packs sub-second finality, dirt-cheap fees, and native perps with on-chain order books. Privacy gets a boost via ZK options, while Aster Code lowers barriers for builders to plug in apps and strategies. Fiat on/off-ramps integrate seamlessly, bridging TradFi. It&#039;s Aster taking the wheel for scalability and sovereignty, reducing external chain risks.​&lt;/p&gt;
&lt;h1&gt;Q2 Power Plays&lt;/h1&gt;
&lt;p&gt;Q2 amps community control with ASTER staking for juicy yields and network security, plus on-chain governance letting holders vote on protocol upgrades. Smart order-following tools let users copy top traders&#039; moves in real-time, blending social vibes with DeFi edge. Expect leaderboards tracking live trades, fueling viral engagement. This trifecta cements $ASTER utility, rewarding loyalty while decentralizing power.​&lt;/p&gt;
&lt;h1&gt;What It Means for Traders&lt;/h1&gt;
&lt;p&gt;Aster&#039;s roadmap screams ambition: from DEX to self-sovereign ecosystem. Infrastructure like L1 tackles scalability, token utility via staking/governance drives demand, and community features spark virality. With recent burns tightening supply and Binance listing talks simmering, $ASTER could ride this wave hard&amp;mdash;though volatility looms in choppy markets. Traders, gear up: testnet drops soon, mainnet beckons. Aster&#039;s not playing catch-up; it&#039;s redefining DeFi&#039;s front lines.&lt;/p&gt;

Aster has unveiled its 2026 H1 roadmap

&lt;p&gt;The DeFi landscape continues to evolve with blockchain ecosystems competing for dominance through innovative applications and strategic partnerships. Total Value Locked (TVL) is one of the key metrics to measure the health and attractiveness of these ecosystems. In this article, we have compiled a list of the top 10 blockchains in November 2025 by TVL growth, with a minimum Range of $10 million, using data from &lt;a href=&quot;https://defillama.com/chains?minTvl=10000000&amp;amp;maxTvl=&quot;&gt;DefiLlama&lt;/a&gt;, a leading DeFi analytics platform.&amp;nbsp;&lt;/p&gt;
&lt;h1&gt;What is TVL?&lt;/h1&gt;
&lt;p&gt;Total Value Locked (TVL) is a key metric in the decentralized finance (DeFi) ecosystem that represents the total U.S. dollar value of digital assets that are currently locked in DeFi platforms. These assets can include cryptocurrencies, stablecoins, liquidity tokens, and other digital assets used for various purposes such as staking, liquidity provision, and yield farming. It serves as an indicator of a DeFi platform&#039;s health and popularity, reflecting user trust and engagement.&lt;/p&gt;
&lt;h1&gt;Top 10 Blockchains in November 2025 by TVL Growth&lt;/h1&gt;
&lt;p&gt;The Following chains saw the highest TVL growth in November 2025&lt;/p&gt;
&lt;p&gt;1. XDC&lt;/p&gt;
&lt;p&gt;2. PolyNetwork&lt;/p&gt;
&lt;p&gt;3. Ethereal&lt;/p&gt;
&lt;p&gt;4. Provenance&lt;/p&gt;
&lt;p&gt;5. Stellar&lt;/p&gt;
&lt;p&gt;6. XLayer&lt;/p&gt;
&lt;p&gt;7. Stacks&lt;/p&gt;
&lt;p&gt;8. Ink&lt;/p&gt;
&lt;p&gt;9. Vaulta&lt;/p&gt;
&lt;p&gt;10. Manta&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_693158e99eb7e.jpg&quot; alt=&quot;Top 10 Blockchains in Nov 2025&quot; width=&quot;570&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;h2&gt;1. XDC&lt;/h2&gt;
&lt;p&gt;XDC tops the table with 61.28% growth in November 2025. The XDC is a high-performance, enterprise-grade hybrid blockchain built for global trade and finance. It combines public and private chains with EVM compatibility, enabling fast transactions (2000+ TPS), near-zero fees, and energy-efficient delegated proof-of-stake consensus. It offers secure, transparent, and scalable solutions for businesses and institutions worldwide.​ Its TVL is now valued at $22.71 million.&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_6931541ad28e2.png&quot; alt=&quot;XDC&#039;s Nov 2025 TVL Growth&quot; width=&quot;750&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;p&gt;Top protocols that drive TVL Growth for XDC:&lt;/p&gt;
&lt;table style=&quot;border-collapse: collapse; width: 100%; height: 74px;&quot; border=&quot;1&quot;&gt;&lt;colgroup&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;/colgroup&gt;
&lt;tbody&gt;
&lt;tr style=&quot;height: 18.5px;&quot;&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;Protocol&lt;/td&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;TVL Growth (Nov 2025)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style=&quot;height: 18.5px;&quot;&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;Liqi&lt;/td&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;+683%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style=&quot;height: 18.5px;&quot;&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;PrimeFi&lt;/td&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;+634%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style=&quot;height: 18.5px;&quot;&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;Uniswap&lt;/td&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;+111%&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;h2&gt;2. PolyNetwork&lt;/h2&gt;
&lt;p&gt;PolyNetwork comes on second place with 57.71% growth in November 2025. PolyNetwork was a cross-chain interoperability protocol enabling asset transfers across over 20 blockchains like Ethereum, BSC, and Polygon via smart contracts and bridges, fostering DeFi and Web3 infrastructure. It gained notoriety in August 2021 after a massive $611 million hack exploited access control flaws in its cross-chain contracts. Facing repeated exploits and shifting market conditions, PolyNetwork fully terminated all services on September 30, 2024. Despite this, DefiLlama continues displaying its TVL at around $333.07 million as the platform tracks on-chain locked value via automated smart contract queries even for inactive or shutdown protocols, reflecting residual liquidity rather than active usage.&lt;/p&gt;
&lt;h2&gt;3. Ethereal&lt;/h2&gt;
&lt;p&gt;Ethereal comes in third place with 31.60% growth in November 2025. Ethereal is a Layer-1 blockchain designed for scalable, secure, and gas-free transactions. It supports EVM-compatible decentralized apps, DeFi protocols, and Web3 gaming with institutional-grade PoS BFT security. Ethereal also powers a decentralized exchange (DEX) offering deep liquidity and fast execution. Its TVL is now valued at $31.89 million.&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_6931544234591.png&quot; alt=&quot;Ethereal&#039;s Nov 2025 TVL Growth&quot; width=&quot;750&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;p&gt;Top protocols that drive TVL Growth for Ethereal:&lt;/p&gt;
&lt;table style=&quot;border-collapse: collapse; width: 100%; height: 37px;&quot; border=&quot;1&quot;&gt;&lt;colgroup&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;/colgroup&gt;
&lt;tbody&gt;
&lt;tr style=&quot;height: 18.5px;&quot;&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;Protocol&lt;/td&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;TVL Growth (Nov 2025)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style=&quot;height: 18.5px;&quot;&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;Ethereal DEX&lt;/td&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;+21.19%&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;h2&gt;4. Provenance&lt;/h2&gt;
&lt;p&gt;Provenance comes in fourth place with 27.10% growth in November 2025. Provenance is a secure, scalable platform designed to enhance transparency and trust in financial services and supply chains. It enables easy asset tokenization, streamlined compliance, and verifiable data sharing, empowering businesses with decentralized trust and operational efficiency. Its TVL is now valued at $226.96 million.&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_693154645a8c8.png&quot; alt=&quot;Provenance&#039;s Nov 2025 TVL Growth&quot; width=&quot;750&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;p&gt;Top protocols that drive TVL Growth for Provenance:&lt;/p&gt;
&lt;table style=&quot;border-collapse: collapse; width: 100%; height: 37px;&quot; border=&quot;1&quot;&gt;&lt;colgroup&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;/colgroup&gt;
&lt;tbody&gt;
&lt;tr style=&quot;height: 18.5px;&quot;&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;Protocol&lt;/td&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;TVL Growth (Nov 2025)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style=&quot;height: 18.5px;&quot;&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;Figure Markets&lt;/td&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;+25.98%&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;h2&gt;5. Stellar&lt;/h2&gt;
&lt;p&gt;Stellar comes in fifth place with 23.47% growth in November 2025. Stellar is a decentralized, public blockchain network designed for fast, low-cost payments, asset tokenization, and DeFi applications. It supports borderless financial services through tools for developers, institutions, and innovators, with features like a built-in decentralized exchange and native smart contracts. Its TVL is now valued at $174.08 million.&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_6931548dbcc6b.png&quot; alt=&quot;Stellar&#039;s Nov 2025 TVL Growth&quot; width=&quot;750&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;p&gt;Top protocols that drive TVL Growth for Stellar:&lt;/p&gt;
&lt;table style=&quot;border-collapse: collapse; width: 100%;&quot; border=&quot;1&quot;&gt;&lt;colgroup&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;/colgroup&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td&gt;Protocol&lt;/td&gt;
&lt;td&gt;TVL Growth (Nov 2025)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;Blend&lt;/td&gt;
&lt;td&gt;+84.53%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;Aquarius Stellar&lt;/td&gt;
&lt;td&gt;+2.88%&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;h2&gt;6. XLayer&lt;/h2&gt;
&lt;p&gt;XLayer comes in sixth place with 13.74% growth in November 2025. XLayer is a Layer 2 scaling solution for Ethereum developed by OKX. It is an EVM-compatible, zero-knowledge (zk) rollup blockchain built with Polygon CDK and optimized for low-cost decentralized finance (DeFi), payments, and real-world asset applications. Its TVL is now valued at $22.85 million.&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_693154acce982.png&quot; alt=&quot;XLayer&#039;s Nov 2025 TVL Growth&quot; width=&quot;750&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;p&gt;Top protocols that drive TVL Growth for XLayer:&lt;/p&gt;
&lt;table style=&quot;border-collapse: collapse; width: 100%;&quot; border=&quot;1&quot;&gt;&lt;colgroup&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;/colgroup&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td&gt;Protocol&lt;/td&gt;
&lt;td&gt;TVL Growth (Nov 2025)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;PotatoSwap&lt;/td&gt;
&lt;td&gt;+18.91%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;OkieSwap&lt;/td&gt;
&lt;td&gt;+10.72%&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;h2&gt;7. Stacks&lt;/h2&gt;
&lt;p&gt;Stacks comes in fourth place with 11.05% growth in November 2025. Stacks is a leading Bitcoin Layer-2 blockchain enabling smart contracts, DeFi, and apps that settle on Bitcoin for unmatched security via Proof of Transfer (PoX). It uses Clarity language, supports sBTC (1:1 BTC asset), and allows STX holders to earn BTC through stacking. Microblocks boost scalability while leveraging Bitcoin&#039;s network effects. Its TVL is valued at $127.73 million.&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_693154d61ba23.png&quot; alt=&quot;Stack&#039;s Nov 2025 TVL Growth&quot; width=&quot;750&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;p&gt;Top protocols that drive TVL Growth for Stacks:&lt;/p&gt;
&lt;table style=&quot;border-collapse: collapse; width: 100%;&quot; border=&quot;1&quot;&gt;&lt;colgroup&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;/colgroup&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td&gt;Protocol&lt;/td&gt;
&lt;td&gt;TVL Growth (Nov 2025)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;Brotocol&lt;/td&gt;
&lt;td&gt;+777285%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;UWU Protocol&lt;/td&gt;
&lt;td&gt;+4.23%&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;h2&gt;8. Ink&lt;/h2&gt;
&lt;p&gt;Ink comes in eighth place with 8.61% growth in November 2025. Ink is a decentralized blockchain platform focused on secure, scalable, and efficient solutions for digital asset management and smart contract deployment. It aims to empower developers and enterprises with innovative tools for a seamless blockchain experience. Its TVL is now valued at $311.6 million.&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_693154f35cddd.png&quot; alt=&quot;Ink&#039;s Nov 2025 TVL Growth&quot; width=&quot;750&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;p&gt;Top protocol that drives TVL Growth for Ink:&lt;/p&gt;
&lt;table style=&quot;border-collapse: collapse; width: 100%; height: 92.5px;&quot; border=&quot;1&quot;&gt;&lt;colgroup&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;/colgroup&gt;
&lt;tbody&gt;
&lt;tr style=&quot;height: 18.5px;&quot;&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;Protocol&lt;/td&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;TVL Growth (Nov 2025)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style=&quot;height: 18.5px;&quot;&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;Securitize&lt;/td&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;+10002018%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style=&quot;height: 18.5px;&quot;&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;Uniswap&lt;/td&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;+755%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style=&quot;height: 18.5px;&quot;&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;vfat.io&lt;/td&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;+131%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style=&quot;height: 18.5px;&quot;&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;Velodrome&lt;/td&gt;
&lt;td style=&quot;height: 18.5px;&quot;&gt;+123%&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;h2&gt;9. Vaulta&lt;/h2&gt;
&lt;p&gt;Vaulta comes at ninth with 4.99% growth in November 2025. Vaulta is a high-performance Layer 1 blockchain designed as the operating system for Web3 banking and open finance. It offers fast, scalable, and secure transactions with 10,000+ TPS and supports EVM and C++ smart contracts. Vaulta integrates native Bitcoin support and features trustless inter-blockchain communication for seamless asset interoperability across chains. Its TVL is now valued at $405.07 million.&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_6931551092976.png&quot; alt=&quot;Vaulta&#039;s Nov 2025 TVL Growth&quot; width=&quot;750&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;p&gt;Top protocols that drive TVL Growth for Vaulta:&lt;/p&gt;
&lt;table style=&quot;border-collapse: collapse; width: 100%;&quot; border=&quot;1&quot;&gt;&lt;colgroup&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;/colgroup&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td&gt;Protocol&lt;/td&gt;
&lt;td&gt;TVL Growth (Nov 2025)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;SportBet&lt;/td&gt;
&lt;td&gt;+577%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;DolphinSwap&lt;/td&gt;
&lt;td&gt;+83.41%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;Alcor Exchange&lt;/td&gt;
&lt;td&gt;+50.25%&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;h2&gt;10. Manta&lt;/h2&gt;
&lt;p&gt;Manta comes at tenth with 1.56% growth in November 2025. Manta Network is a privacy-focused blockchain providing decentralized finance (DeFi) and Web3 privacy solutions. It uses zero-knowledge proofs for shielded transactions, enabling secure, private trading, payments, and interoperable DeFi on a scalable, interoperable Substrate-based network. Its TVL is now valued at $11.44 million.&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_693155378ffc5.png&quot; alt=&quot;Manta&#039;s Nov 2025 TVL Growth&quot; width=&quot;750&quot; height=&quot;300&quot;&gt;&lt;/p&gt;
&lt;p&gt;Top protocol that drives TVL Growth for Manta:&lt;/p&gt;
&lt;table style=&quot;border-collapse: collapse; width: 100%;&quot; border=&quot;1&quot;&gt;&lt;colgroup&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;col style=&quot;width: 49.9501%;&quot;&gt;&lt;/colgroup&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td&gt;Protocol&lt;/td&gt;
&lt;td&gt;TVL Growth (Nov 2025)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;Steer Protocol&lt;/td&gt;
&lt;td&gt;+29.70%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;Quickswap&lt;/td&gt;
&lt;td&gt;+21.30%&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;h1&gt;Conclusion&lt;/h1&gt;
&lt;p&gt;In the dynamic landscape of decentralized finance (DeFi), tracking the Total Value Locked (TVL) across various blockchains provides invaluable insights into market trends and investor confidence. This analysis, based on data from DeFi Llama, highlights the top 10 blockchains that have experienced significant growth in TVL over November, with a minimum TVL of $10 million.&lt;/p&gt;

Top 10 Blockchains in November 2025 by TVL Growth

&lt;p&gt;Ethereum&amp;rsquo;s highly anticipated Fusaka upgrade activated smoothly on the mainnet yesterday, Dec 3, 2025, at slot 13,164,544(21:49:11 UTC), marking the blockchain&#039;s second big code change this year. This hard fork blends the Osaka execution layer tweaks with the Fulu consensus updates, pushing Ethereum closer to its vision of massive scalability without sacrificing security.​&lt;/p&gt;
&lt;p&gt;&lt;img src=&quot;https://ds7uldi88krbs.cloudfront.net/posts/post_69312a2de0e07.png&quot; alt=&quot;The Fusaka Upgrade has Gone Live on Ethereum&quot; width=&quot;600&quot; height=&quot;200&quot;&gt;&lt;/p&gt;
&lt;p&gt;Image Source: &lt;a href=&quot;https://x.com/ethereum/status/1996336103486296470&quot; target=&quot;_blank&quot; rel=&quot;noopener&quot;&gt;Ethereum&lt;/a&gt;&lt;/p&gt;
&lt;h1&gt;What Fusaka Delivers&lt;/h1&gt;
&lt;p&gt;At the heart of Fusaka lies PeerDAS (Peer-to-Peer Data Availability Sampling), a breakthrough that lets nodes sample just portions of blob data instead of downloading everything. This slashes bandwidth and storage costs for validators while boosting blob throughput by up to eightfold&amp;mdash;building directly on Dencun&#039;s proto-danksharding. Ethereum co-founder Vitalik Buterin called it a &quot;literal sharding&quot; moment, fulfilling a 2015 dream now realized through data sharding.​ The upgrade packs 12 Ethereum Improvement Proposals (EIPs), including blob-parameter-only forks for quick capacity tweaks sans full hard forks, stabilized blob base fees, and a 16,777 gas cap per transaction to fend off DoS attacks. Node operators see lighter loads, while Layer-2 rollups like Optimism&#039;s Superchain gear up for 100,000+ TPS.​&lt;/p&gt;
&lt;h1&gt;Smooth Rollout After Rigorous Tests&lt;/h1&gt;
&lt;p&gt;Fusaka aced three testnets: Holesky, Sepolia, and the final Hoodi run in late October, with developers locking in the December 3 mainnet date. Validators reported zero hiccups during activation, underscoring Ethereum&#039;s maturing upgrade process post-Merge and Pectra. Bitwise analysts note this cements Ethereum&#039;s role as the go-to settlement layer for on-chain finance, handling exploding L2 batches ($47B economy).​&lt;/p&gt;
&lt;h1&gt;Market Buzz and Price Action&lt;/h1&gt;
&lt;p&gt;ETH holders felt the vibe immediately. Price swelled post-launch, echoing Pectra&#039;s rally, as traders bet on cheaper L2 fees and broader adoption. Everyday users win with smoother, low-cost transactions on rollups; devs get efficient data handling; institutions eye passkey integrations for secure access. No smart contracts broke&amp;mdash;business as usual, just better.​&lt;/p&gt;
&lt;h1&gt;Why It Matters for Ethereum&#039;s Future&lt;/h1&gt;
&lt;p&gt;Fusaka isn&#039;t flashy UX candy; it&#039;s infrastructure rocket fuel. L2s now post more data affordably, easing congestion and unlocking DeFi, gaming, and AI apps at scale. It paves the way for Glamsterdam next, eyeing proposer-builder separation. Critics say it&#039;s Ethereum&#039;s &quot;boldest scalability bet,&quot; targeting $410B market cap growth amid competition.​​&lt;/p&gt;

The Fusaka Upgrade has Gone Live on Ethereum

&lt;p class=&quot;mb-2 text-sm text-gray-800&quot;&gt;In partnership with Oxbull - Cryptobuddy community members will get &lt;span class=&quot;text-blue-900 font-bold&quot;&gt;10&lt;/span&gt; exclusive whitelist spots (Tier 3) for the upcoming IDO.&lt;/p&gt;&lt;p class=&quot;mb-2 text-sm text-gray-800&quot;&gt;MetaFighter is a skill-based Play-to-Earn fighting game in Binance Smart Chain Network which captures the essence of arcade fighting classics like Street Fighter, Virtua Fighter and Soul Calibur, while delivering an in -game economy that rewards players for their combat prowess. Launching on Oxbull with &lt;span class=&quot;text-blue-900 font-bold&quot;&gt;130K&lt;/span&gt; initial market cap&lt;/p&gt;

Uponly × Cryptobuddy Airdrop Giveaway

In partnership with Oxbull - Cryptobuddy community members will get 10 exclusive whitelist spots (Tier 3) for the upcoming IDO.MetaFighter is a skill-based Play-to-Earn fighting game in Binance Smart Chain Network which captures the essence of arcade fighting classics like Street Fighter, Virtua Fighter and Soul Calibur, while delivering an in -game economy that rewards players for their combat prowess. Launching on Oxbull with 130K initial market cap

MetaFighter Oxbull IDO - Whitelist for Cryptobuddy Community

In partnership with Oxbull - Cryptobuddy community members will get 10 exclusive whitelist spots (Tier 3) for the upcoming IDO.Fantom Pad has developed the first Hybrid Incubator-DEX built on the Fantom network, creating a safer, seamless environment for all emerging projects. Launching on Oxbull with 144K initial market cap

FantomPad Oxbull IDO - Whitelist for Cryptobuddy Community

FantomPad

Oxbull

Cryptobuddy

CryptobuddyAnnouncement

In partnership with Oxbull - Cryptobuddy community members will get 10 exclusive whitelist spots (Tier 3) for the upcoming IDO.Shark Race Club is an interesting and unique NFT play-to-earn racing game that is featuring a variety of Shark NFT Characters. Launching on Oxbull with 328K initial market cap

Shark Race Club Oxbull IDO - Whitelist for Cryptobuddy Community

SharkRace Club

In partnership with Oxbull - Cryptobuddy community members will get 10 exclusive whitelist spots (Tier 3) for the upcoming IDO.Crimecash is a game where you can buy weapons and loot other players. Crimecash is launching on Oxbull

CrimeCash Oxbull IDO - Whitelist for Cryptobuddy Community

CrimeCash

XYRO is an AI-powered gamified trading platform that leverages gamification and social features to redefine crypto, making it accessible and engaging. &nbsp; &nbsp; &nbsp; XYRO operates in the rapidly growing and high-potential gamified social trading and Web3 space, leveraging both AI and gamification to drive user engagement. By combining advanced AI insights with engaging gamified experiences, the platform becomes more intuitive, accessible, and appealing to a wide range of users. &nbsp; &nbsp; &nbsp; XYRO is an AI-powered, fully decentralized platform that combines gamification and social trading, making crypto participation engaging and accessible for both newcomers and experienced traders.

Zaya AI works on combating cancer through an innovative ecosystem. By seamlessly integrating the latest AI technologies with state-of-the-art medical screening procedures, they strive to revolutionize early detection, prevention, and treatment strategies. This comprehensive approach holds the promise of saving countless lives by identifying and addressing malignancies at their earliest stages when intervention is most effective.

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