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OVERVIEW

Less And Less BTC For You And Me 📉 

Before we dive in, here’s today’s crypto market heatmap:

Source: Santiment

And here’s a look at crypto’s total and altcoin market cap YTD:

Source: TradingView

New In Three Sentences
Crypto News 📰

🤑 MicroStrategy’s Debt-for-Bitcoin Gambit: Bold or Reckless?

Michael Saylor’s Bitcoin obsession now totals $30B in holdings, funded by $3B in fresh debt—and critics are clutching their pearls over the long-term risks. If Bitcoin crashes, MicroStrategy might face a fire sale that would make 2008 look tame. But Saylor isn’t sweating it, happily reminding everyone that Bitcoin can go to zero… and he’d still HODL. CryptoDNES.

⚡ Sui Teams Up With Franklin Templeton Because DeFi Needs Grown-Ups

Sui’s blockchain bagged a strategic partner in Franklin Templeton, a boomer-friendly financial giant now funding projects like Deepbook. Sui’s DeFi ecosystem flexed its muscles this year with a 675% TVL boost and 956% more transactions, making it one of the fastest-growing chains around. Franklin’s support says what we all know: TradFi’s finally scared of being left behind. CryptoEconomy.

📈 Cboe Rolls Out Spot Bitcoin ETF Options, Let the Games Begin

Cboe is dropping the first cash-settled options tied to spot Bitcoin ETFs on Dec. 2, so you can now gamble on Bitcoin volatility without even owning it. These European-style options cater to retail and institutional players alike, because who doesn’t love fresh ways to lose money? CBOE news.

BITCOIN
Less And Less BTC For You And Me 📉 

First things first: as I’m writing this Litepaper, Bitcoin hit $99.5k. It’s entirely possible and probable that the crypto gods will not let $100k be hit by the time this Litepaper goes out, to only have it hit $100k after I finally send it out. 🤦 

So there it is – but the main focus of this article is about the supply of Bitocin on exchanges, so it will be short and sweet.

How much Bitcoin is available on the exchanges?

Amount Of Bitcoin Available On Exchanges – Click to enlarge.

Only 1.66 million. What percentage of Bitcoin’s total supply does that represent?

Supply On Exchanges As % Of Total Supply – Click to enlarge.

Less than 8.5%. Supply shock incoming? Who knows. One thing we do know is the supply continues to drop and the speed of its descent is accelerating. ⏬ 

SPONSORED
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STELLAR
XLM Rockets Past Expectations: What’s Fueling the Hype? 🚀 

What major market cap crypto is the best performer over the past 30-days? $BTC? $ETH? $XRP? 🤔 

Nope.

The answer is $XLM, +229%. In 16 days, XLM has wiped out 3 years of losses and congestion. Absolutely, um, stellar performance. 🤯 

XLMUSD Weekly Chart – Click to enlarge.

Stellar’s recent price surge isn’t some random moonshot. The network’s been busy fixing its technical baggage, growing its ecosystem, and convincing real-world institutions to actually use it.

Let’s unpack some of the fundamentals.

Making Blockchains Not Suck

Blockchains love to shoot themselves in the foot with inefficiency, but Stellar seems tired of that game. The Protocol 22 upgrade and State Archival cut out the fat, solving the blockchain’s state bloat problem, and making validators leaner, faster, and cheaper.

Stellar’s Composable Data Platform (CDP) also made reingestion 9x faster. What’s CDP?

Imagine you’ve got a giant box of LEGOs, but it’s a mess, and finding pieces takes forever. Now, picture a magical organizer that sorts everything so you can grab what you need instantly. That’s what CDP does for Stellar—organizing messy data so people can access it super fast instead of wasting time digging. ⚒️ 

Throwing Money At Developers

The Stellar ecosystem isn’t just growing—it’s throwing down cash. The Stellar Community Fund (SCF) and Enterprise Matching Fund are pouring millions into projects that deliver real results.

At the recent Meridian 2024, over 80 SCF-backed teams pitched ideas ranging from yield-bearing stablecoins to cash-to-DeFi solutions. Cross-chain liquidity? Check. Nigeria and MoneyGram integrations? Yep. If there’s one thing Stellar understands, it’s that funding builders keep the wheels turning—and the network relevant. 💵 

Big Money Moves

Franklin Templeton has $450 million worth of tokenized assets riding on Stellar. Institutional money gives Stellar some much-needed street cred, and in a world where blockchains fight to stay alive, that’s priceless.

Let’s Hope The Good Times Last

Stellar’s spike comes from solid upgrades, real-world use, and enough institutional backing to make other blockchains jealous. Whether it’s solving blockchain’s efficiency problems, onboarding devs, or helping Franklin Templeton tokenize half a billion dollars, Stellar’s finally cashing in on years of groundwork.

But dont’ be surprised if some profit is taken on the way up. 💸 

News In Three Sentences
Metaverse, NFT, & Gaming News 🎮️

🎟️ Gala Games Launches Weekly $GALA Sweepstakes

Gala Games unveiled the Epic Gala Sweepstakes, a weekly prize draw fueled by $GALA burned across its ecosystem. Players earn free tickets for using $GALA in eligible transactions, with decentralized RNG planned for future transparency. The first drawing occurs on November 27, featuring a prize pool boosted by 1 million $GALA. Gala Games blog.

🤖 VentureMind AI Partners With Theta Labs to Scale AI and Web3 Tools

Theta Labs and VentureMind AI are integrating Theta EdgeCloud to power AI innovation, decentralized robotics, and video rendering. VentureMind AI combines AI tools, NFTs, and robotics in its ecosystem, now enhanced by Theta’s low-latency compute infrastructure. This collaboration expands Web3 capabilities, offering scalable compute and real-time robotics control for industries like security and construction. Theta blog.

News In Three Sentences
DeFi, DEX, and Lending Protocol News 🏦

🌉 Why Multichain Matters for DEXs

Pancakeswap believes a multichain strategy is essential for decentralized exchanges, enabling them to connect fragmented liquidity, scale effectively, and mitigate blockchain-specific risks. PancakeSwap says they exemplify the approach, expanding to nine blockchains and providing a unified, user-friendly experience. Pancakeswap blog.

📈 Bancor’s Carbon DeFi Rolls Out Drawing Tools for Precision Trading

Carbon DeFi introduces in-house drawing tools, enabling traders to chart strategies directly on the platform without third-party software. Features include trendlines, channels, and pattern analysis tools for strategy execution and backtesting. Bancor blog.

🆔 Algorand Joins DIF to Advance Decentralized Digital Identity Standards

The Algorand Foundation has joined the Decentralized Identity Foundation (DIF) to further its work on decentralized identity solutions, including its did:algo protocol. Algorand’s DID implementation provides secure, permissionless identity management for individuals and organizations, already aiding disaster survivors through Kare Wallet. Algorand blog.

ON-CHAIN ANALYSIS
Burnt Bag Briefing 🔥 

Want to know whether the bulls or bears are feeling the most pain today? Well, this is the place to look. 👀

24-Hour Liquidation Heat Map – Source: Coinglass – Click to enlarge.

In the past 24 hours, 116,937 traders were liquidated, with total liquidations reaching $323.71 million.

The largest single liquidation occurred on Binance, a BTCUSDT pair valued at $2.57 million.

Longs lost $184.86 million, while shorts were hit for $138.85 million. 🤕 

LINKS
Links That Don’t Suck 🔗

🏹 Robinhood Exec Dan Gallagher declines SEC leadership role

👛 State pension plans can adopt crypto more easily than private plans

😡 NYC politicians call on Whoopi Goldberg to apologize for saying bakery denied order over politics

🕹️ Stalker 2: Heart of Chornobyl has sold 1 million copies so far

🤖 Woman gets first double lung transplant done by robot

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Author Disclosure: The author of this newsletter holds positions in ADA, DASH, LTC, WMT, COPI, MIN, AGIX, ALGO, DOGE, ZEC, AVAX, XLM, XTZ, and NEAR. 📋