Overview:

• Ethereum dives 10% to below $3,200 as whales accumulate over $1.3 billion in ETH, signaling long-term conviction despite market correction.

• XRP ETF launches on Nasdaq with $245 million inflows, marking a historic milestone for Ripple after its SEC settlement.

• Bitcoin ETFs record $869.86 million outflows, while Tether’s dominance climbs to 7-month highs and Avalanche expands DeFi yield options with SIERRA.

The crypto market witnessed an eventful session today, marked by price swings, strong institutional interest, ETF outflows, rising stablecoin dominance, and a warning from law enforcement authorities. Ethereum suffered one of its sharpest daily declines in weeks, but whales treated the downturn as a buying opportunity. 

Ethereum Plunges 10% but Whales Accumulate Aggressively

Ethereum fell nearly 10% in the last 24 hours, sliding below $3,200 and extending a week-long correction that has pressured the broader altcoin sector. 

Lookonchain reported that a wallet linked to BitMine Immersion Technologies, the digital asset treasury firm led by strategist Thomas Lee, received 9,176 ETH from Galaxy Digital’s OTC desk, a purchase worth more than $29 million. 

Machi Big Brother added more than 7,400 ETH in leveraged longs, while his brother deposited an additional 5,000 ETH to extend margin and avoid potential liquidation.

Another whale, known as 66kETHBorrow, accumulated 16,937 ETH valued at nearly $54 million, bringing its total purchases to over 422,000 ETH, or around $1.34 billion. 

Also Read: Ethereum Reserves on Exchanges: What You Need to Know About the Current State

Australian Authorities Warn of Sophisticated Crypto Impersonation Scam

The Australian Federal Police issued a warning after scammers began impersonating officers through the government’s official ReportCyber portal. 

Criminals acquired personal information such as email addresses and phone numbers to submit false reports on behalf of victims. They then contacted those victims posing as AFP officers. 

In one instance, the victim later received a call from someone claiming to represent a cryptocurrency platform, urging them to transfer funds into a fraudulent “cold storage” wallet.

Officials stressed that these scams are built on the concept of false urgency and legitimacy. They cautioned users to verify any communication on their own before proceeding, to avoid giving away sensitive wallet information, and to report suspicious activity. 

XRP ETF Continues its Strong Debut on Nasdaq With $245 Million Inflows 

Canary Capital's XRPC ETF, the first US spot XRP ETF, launched on Nasdaq with trading momentum. On its first day of trading, it attracted $245 million in net inflows and engaged $58.5 million in trading volume within hours after opening. Over $26 million traded in the first half hour of trading, indicating significant demand from institutional investors and retail USD traders. 

The ETF was launched after Ripple and the US SEC reached a settlement that lifted the last legal barrier to institutional participation, having previously restricted institutional participants. 

Analysts expect the fund to reach $500 million in assets under management before the end of the year.

Tether Dominance Rises to the Highest Level Since April

Risk-off sentiment caused a noticeable surge in Tether’s dominance, which climbed to its highest level in nearly seven months. 

With bitcoin falling 11% this month to around $97,630, traders parked funds in USDT as a defensive strategy. The stablecoin’s market capitalization now stands at $184 billion. 

Traditionally, bear markets have existed after the small rises in tether dominance, as traders start to preserve capital. Typically, the start of bear markets coincides with bullish momentum for USDT dominance. 

Sierra Protocol Goes Live With First Liquid Yield Token on Avalanche 

Avalanche received a major DeFi boost as Sierra Protocol deployed SIERRA, the first Liquid Yield Token to launch on Avalanche with dynamic rebalancing. After purchasing SIERRA, the token will generate yield immediately, with no lock-up periods, minimum deposits, staking requirements, or hidden fees. 

Backed by stablecoin reserves and supported by a transparent dashboard, SIERRA provides real-time insights into reserve allocation and yield performance.

The token leverages OpenTrade’s institutional-grade infrastructure, combining real-world asset yields with blue-chip DeFi strategies. 

Bitcoin Spot ETFs Log $869.86 Million in Net Outflows 

According to Sosovalue, Bitcoin spot ETFs saw a massive $869.86 million in net outflows on November 13, 2025, marking the second-largest withdrawal in ETF history.

The Grayscale Bitcoin Mini Trust led the outflows with $318 million, while BlackRock’s IBIT recorded $257 million in withdrawals.

Despite the sell-off, IBIT still holds more than $64.25 billion in total historical inflows, underscoring its dominance among Bitcoin-based products.

As of today, Bitcoin spot ETFs collectively manage $130.54 billion in assets, representing 6.67% of Bitcoin’s total market capitalization. 

Also Read: Bitcoin Price Crashes to $96,000 as Market Liquidations Cross $880 Million

FAQs:

1. Why did Ethereum’s price drop 10%?

ETH fell due to broad market correction and profit-taking, but whales used the dip to accumulate over $1.3 billion worth of tokens.

2. How successful was the XRP ETF launch?

Canary Capital’s XRPC ETF debuted on Nasdaq with $245 million in inflows and $58.5 million in first-day trading volume.

3. Why is Tether’s dominance rising?

Traders shifted capital into USDT amid risk-off sentiment, pushing Tether’s market cap to $184 billion, its highest since April.

4. What is Avalanche’s SIERRA token?

SIERRA is the first Liquid Yield Token on Avalanche, offering immediate yield without staking or lock-ups, backed by stablecoin reserves.

5. How significant are Bitcoin ETF outflows?

Bitcoin ETFs saw $870 million withdrawn, the second-largest in history, led by Grayscale and BlackRock, signaling cautious investor sentiment.