Yala responded on November 18 to the depegging of its stablecoin YU and liquidity crisis, according to an official X post. The protocol suffered a hack on September 14, 2025, losing $7.64 million USDC (approximately 1,636 ETH at the time), though the core protocol remained secure and the team injected $5.5 million to maintain stability. Bangkok law enforcement arrested the hacker on October 29, 2025, and most affected funds were recovered but remain under judicial review; however, the actual recovered value decreased due to ETH price decline after some funds were converted to ETH and attacker spending. Recent retail withdrawal from DeFi markets has intensified pressure on the already illiquid market, affecting Euler and limiting positions previously used to stabilize YU. Yala commits to announcing a clear plan by December 15, 2025, including fund recovery pathways and operational measures.

A trader opened a $48.47 million short position on ZEC using 10x leverage across three wallets, showing an unrealized profit of $3.36 million, Onchain Lens data show. The trader had been forcibly liquidated on Nov. 18 during a brief market rebound, losing over $3 million. The new short positions were deployed through multiple wallets following the liquidation.

The Monad (MON) token public sale on Coinbase raised $90.05 million within six hours of launch, representing approximately 48% of the total offering, The Block reports. The sale, which began at 22:00 Beijing time on November 17, attracted nearly half of its subscription amount within the first 30 minutes, Coinbase Product Director Scott Shapiro said. The offering plans to raise approximately $187 million in total, with individual bid limits ranging from $100 minimum to $100,000 maximum.

Fidelity's Solana exchange-traded fund (FSOL) will begin trading tomorrow with a 0.25% management fee, Bloomberg senior ETF analyst Eric Balchunas said. The launch makes Fidelity the largest asset manager in the Solana ETF space, with BlackRock notably absent. BSOL, which launched first, holds $450 million in assets, while VSOL went live today alongside Grayscale's entry.

El Salvador purchased 1,090 BTC valued at $100 million, data from the country's Ministry of Finance website showed on November 18. The acquisition brings the nation's total bitcoin holdings to 7,474.37 BTC, currently worth over $686 million.

BlackRock's IBIT saw net outflows of $1.5536 billion across 10 trading days, Farside Investors reported on Nov. 18. The fund recorded outflows on 8 days totaling $1.8902 billion, while 2 days posted inflows of $336.6 million.

Several cryptocurrency treasury companies saw their mNAV ratios drop below 1 on Nov. 18, BlockBeats reports. Strategy (MSTR) recorded an mNAV of 0.937, with its $56 billion market cap trailing its Bitcoin holdings of 649,870 BTC valued at $59.9 billion. Metaplanet's mNAV stood at 0.912, with a $2.61 billion market cap against 30,823 BTC worth $2.84 billion. Bitmine (BMNR), the largest institutional Ethereum holder with roughly 3.51 million ETH valued at $10.63 billion, saw its market cap fall to $8.81 billion with an mNAV of 0.83. SharpLink (SBET), second in institutional ETH holdings with 860,000 ETH worth $2.61 billion, reported a market cap of $2.02 billion and an mNAV of 0.84.

A whale purchased 10,275 ETH for 31.16 million USDT at an average price of $3,032 over the past 24 hours, Onchain Lens data show. The same address has accumulated 13,612 ETH for 41.89 million USDT at an average price of $3,077 since November 12.

Machi's 25x leveraged Ethereum long position has incurred cumulative losses exceeding $19.35 million following multiple liquidations amid market declines, HyperInsight data show on Nov. 18. The position currently holds 368.88 ETH worth $1.11 million, with a liquidation price of $2,963.3.