Edgen Crypto·Nov 29 2025, 06:17
[1] China former securities regulator investigated for suspected ... (https://www.reuters.com/sustainability/boards ...)[2] CSRC probes private fund disclosure violations - The Asset (https://www.theasset.com/article/50491/csrc-p ...)[3] China probes ex-securities regulator for alleged violations (https://www.theedgesingapore.com/news/china/c ...)
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Nov 29 2025, 11:35
Ethereum Navigates Critical Price Zone After Trendline Breach
## Executive Summary **Ethereum (ETH)** is currently navigating a period of heightened technical uncertainty after breaching a key ascending trendline. The asset has fallen below the critical $3,200 support level and the 100-hourly simple moving average, signaling a bearish short-term outlook. However, this movement is contrasted by ETH's position above a decade-long support trendline, creating a complex picture for traders and investors. The market is now focused on whether major support levels around $3,000 will hold or if a deeper correction is imminent. ## The Event in Detail Recent price action saw **Ethereum** fail to sustain momentum above the $3,550 resistance level, leading to a more than 5% slide. This decline pushed the price down to $3,153, breaking through several support structures in the process. A key technical event in this downturn was the break below a widely watched ascending trendline, which had previously supported the price. Currently, **ETH** is trading below the $3,200 mark, a psychological and technical level that is now acting as resistance. The asset also remains under its 100-hourly moving average, a further indicator of bearish control in the short term. ## Market Implications The breach of the ascending trendline has shifted the market bias to bearish in the immediate term. A sustained break below the $3,150 support area could trigger further selling pressure, exposing downside targets at $3,050 and the significant psychological level of $3,000. Should that level fail, market analysis points to a potential retest of the $2,880–$2,850 support zone, with some projections indicating a possible slide toward $2,650. Conversely, for a bullish reversal to gain credibility, buyers would need to reclaim the $3,350–$3,500 resistance zone. Until then, the path of least resistance appears to be to the downside or continued consolidation. ## Expert Commentary Market analysis is currently divided, reflecting the conflicting technical signals. One perspective emphasizes the bearish breakdown, citing the failure to hold above $3,500 and the subsequent break of multiple support levels as evidence that a deeper correction is underway. This view aligns with the initial analysis of a trendline break signaling a potential move toward $2,650. However, another school of thought is focused on the bigger picture. Analysts note that **ETH** is testing a pivotal, decade-long support trendline that has been a factor since 2016. Holding this long-term support could indicate a significant market bottom is forming, despite the short-term volatility. There are also indications that **ETH** broke through a separate *bearish* trend line after holding support near $2,750, suggesting a potential recovery targeting the $3,000 level. ## Broader Context This period of volatility occurs within a broader multi-month downtrend for **Ethereum**. The current price action represents a critical test of this long-term bearish structure against a historical, decade-long support line. The outcome of this technical battle could set the directional tone for **ETH** for the medium term. While the immediate pressure is bearish, the resilience of the long-term support provides a counter-narrative that suggests the potential for a significant market reversal. The resolution of these conflicting patterns is paramount for determining the next major price cycle for the second-largest cryptocurrency.
Nov 29 2025, 10:01
Pando Ethereum Spot ETF to Debut on Hong Kong Exchange, Expanding Digital Asset Offerings
## Executive Summary Pando Financial is scheduled to launch a spot Ethereum exchange-traded fund (ETF) on the Hong Kong Stock Exchange (HKEX) on December 3. The new financial product will trade under the ticker **3085** and is designed to provide investors with direct exposure to Ethereum by physically holding the asset. The ETF's value will be benchmarked against the CME CF Ether-Dollar Reference Rate for the Asia Pacific region. This launch represents a further expansion of Hong Kong's regulated digital asset offerings, joining a group of similar crypto-backed financial products introduced earlier in the year. ## The Event in Detail The Pando Ethereum ETF is a passively managed fund with an investment objective to provide results that closely correspond to the performance of Ethereum. As a spot ETF, the fund will directly acquire and hold **Ethereum (ETH)** as its core underlying asset. This structure allows investors to gain exposure to the cryptocurrency's price movements without the complexities of managing digital wallets and private keys. The fund's benchmark, the **CME CF Ether-Dollar Reference Rate - Asia Pacific Variant**, is a regulated and standardized index, ensuring that the ETF's net asset value is priced according to a consistent and transparent industry metric. The listing on the HKEX will make the ETF accessible to a broad range of investors through their existing securities accounts, significantly lowering the barrier to entry for participating in the digital asset market. ## Market Implications The introduction of the Pando Ethereum ETF is expected to enhance market liquidity and accessibility for Ethereum in the region. By offering a regulated investment vehicle, it caters to both institutional and retail investors seeking compliant exposure to digital assets. The increased competition among ETF providers, including established players like **China Asset Management** and **Harvest Global**, is likely to drive innovation and potentially lead to more competitive management fees over time. While the immediate price impact on ETH will be contingent on initial capital inflows, the creation of another regulated access point is a structurally bullish factor for long-term demand. ## Broader Context and Precedent Pando's ETF is the latest entrant into a developing market for cryptocurrency-based investment products in Hong Kong. In April, the city saw the debut of six spot bitcoin and ether ETFs from managers including **China Asset Management**, **Harvest Global**, **Bosera**, and **HashKey**, marking a significant milestone for the region. The use of the CME CF reference rate as a benchmark is consistent across these products, including the **CHINAAMC ETHER ETF (3046)** and **HARVEST ETHER SPOT ETF (3179)**, pointing to the establishment of an industry standard. This continued expansion of crypto ETFs underscores Hong Kong's strategic effort to position itself as a premier, regulated hub for digital assets in Asia. It also hints at future market evolution, with some participants reportedly planning to launch staked spot Ethereum ETFs in the future, which would offer yield on top of price exposure.
Nov 29 2025, 07:16
Arthur Hayes Reverses Stance on Monad, Citing Token Structure Risks and Sparking Volatility
## Executive Summary Arthur Hayes, the influential co-founder of BitMEX, has publicly reversed his investment thesis on **Monad (MON)**, a new Layer 1 blockchain token. After initially forecasting a price of $10 and triggering a 55% price surge, Hayes issued a strong warning that the token could crash significantly. He attributed this risk to its underlying structure as a "VC coin," which he argues is unsustainable and highly susceptible to sentiment-driven volatility. The event has ignited debate over the influence of prominent figures and the inherent risks of venture-capital-heavy token distributions in the cryptocurrency market. ## The Event in Detail Following the mainnet launch of **Monad**, Arthur Hayes disclosed his investment and issued a bullish price prediction of $10 for the **MON** token. The endorsement from the widely followed investor sparked immediate and aggressive market buying, causing the token's price to rally by 55% from its launch price. However, in a sudden turn, Hayes publicly disavowed his position, describing the project with strong negative language and stating his belief that it was fundamentally flawed. His rationale centered on the concept of it being a "VC coin," implying that its tokenomics are heavily weighted toward early institutional investors. According to Hayes, this structure creates an unstable market environment where small capital inflows or shifts in influencer sentiment can trigger disproportionately large price swings. ## Market Implications The rapid reversal from Hayes has introduced extreme volatility into the **MON** market during its critical early price-discovery phase. For investors, this event serves as a practical case study on the perils of tokens with heavy venture capital backing, where the concentration of tokens among early insiders can lead to instability. The sharp price movements underscore the significant impact that a single influential voice can have on the valuation of an early-stage crypto asset, creating a precarious environment for retail participants. ## Expert Commentary In his analysis, Arthur Hayes warned that **Monad** could potentially "crash 99%," directly linking this outcome to its token structure. He elaborated that the token's design makes it vulnerable to market manipulation and sentiment swings, rather than trading on fundamental value. His commentary suggests a belief that the initial price run-up was not supported by organic demand but was instead a speculative bubble inflated by his own initial endorsement. This public criticism from a notable investor casts significant doubt on the project's short-term viability and tokenomics model. ## Broader Context This specific, project-level bearishness on **Monad** stands in contrast to Hayes's broader macroeconomic outlook. He remains publicly bullish on the cryptocurrency market as a whole, predicting a prolonged bull run lasting into 2026 or 2027. Hayes bases this long-term thesis on the expectation of continued global money printing and fiscal expansion by governments worldwide. His dual stance—macro-bullish on crypto but micro-bearish on projects with what he deems to be poor fundamentals—highlights a sophisticated investment strategy. It reinforces his view that while the broader market tide may rise, not all assets will survive, echoing his previous warnings that up to 99% of all cryptocurrencies could ultimately fail.