Ethereum's leverage ratio on Binance hit an all-time high of 0.57, data show, as traders increased risk exposure ahead of the Fusaka upgrade. Open interest across exchanges recovered to $17 billion from $15 billion, while liquidation data indicate potential price movement between $2,900 and $3,200. ETH traded at $3,089.42 with the fear and greed index at 54 points, reflecting neutral market sentiment.

Circle has partnered with OpenMind to implement the x402 payment protocol for autonomous machine transactions using USDC stablecoin. The collaboration will integrate USDC into OpenMind's robotics and AI platform for microtransactions between AI agents. OpenMind secured $20M in funding led by Pantera Capital in August 2025, with the project currently in early development stages.

A whale previously active in October market movements deposited 55,240 ETH to Aave and borrowed $70M in stablecoins across two tranches, data show. The borrowed funds were transferred to Binance. This marks the wallet's first significant activity in three months.

ETH deposits on Aave reached a record high above 3 million tokens, doubling over the past year. The protocol now holds approximately 50% of total DeFi lending value with $21.4 billion in active loans. Users increasingly leverage Ethereum-based collateral for borrowing as the platform approaches its 92% utilization threshold.

Ethereum is trading at $3,053.19, hovering near fair value after climbing above $3,000. The market value to realized value ratio stands at 1.27, placing the current price approximately 27% above the realized price of $2,315. Exchange reserves have declined to a record low of 16 million ETH as long-term holders shift coins into staking and decentralized finance protocols.

Amundi, Europe's largest asset manager, has launched a tokenized version of its AMUNDI FUNDS CASH EUR money market fund on Ethereum, with €5 billion in assets under management. CACEIS will provide the digital infrastructure, enabling continuous subscriptions and redemptions through stablecoins or digital currencies. The fund offers investors an alternative channel for accessing money market instruments alongside conventional distribution methods.

MON, the native token of Monad, dropped over 14% to $0.039 on November 27, 2025. BitMEX founder Arthur Hayes announced his exit from the position, reversing his bullish stance posted days after the token's airdrop launch. The price decline triggered liquidations of long positions across major exchanges.

Deribit reported record open interest in options contracts ahead of the November 28 expiry, with $13.75 billion in BTC options and $1.73 billion in ETH options set to expire. Open interest surpassed $43 billion in nominal value, marking an all-time high in contract count as traders positioned for volatility around the $100,000 level.

S&P Global Ratings downgraded Tether's USDT stablecoin to 'weak' from 'constrained', citing exposure to high-risk assets and limited reserve transparency. The agency warned that Bitcoin holdings—now 5.4% of reserves—combined with other volatile assets could reduce collateral coverage if valuations decline. Tether has not conducted a complete audit since inception and lacks direct redemption channels for token holders, according to S&P.