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HBAR surged nearly 10% on rising volume and renewed market confidence, boosted by expectations of upcoming Coinbase futures trading.
Pump.fun alarmed traders after transferring $436M in USDC to Kraken amid falling revenue and memecoin slowdown.
Regulatory and institutional shifts intensified as South Korea prepared heavy penalties for exchanges, Bitmine accumulated ETH, and Bitkub explored a Hong Kong IPO.
Today in the cryptocurrency market, there were several developments with strong altcoin performance, regulatory shockwaves, and large institutional accumulation. Hedera (HBAR) led the momentum with a near-double-digit rally, while developments across memecoins, exchanges, and token unlock schedules shaped sentiment in the broader market.
HBAR nearly gained 10%, briefly hitting $0.15. Trading volume surged by over 220%, hitting $530 million, indicating renewed trader interest.
HBAR’s rebound comes while the broader market is showing early signs of stabilization. Bitcoin has rebounded from recent lows near $80,000 and is hovering between $86,000 and $87,000, while altcoins attempt to regain lost ground.
HBAR dropped to $0.12 during the correction before sharply reversing. Technically, HBAR is approaching major resistance at $0.20; a breakout could open the door toward the highs reached in July.
In addition, 24/7 HBAR futures trading, expected to be available on Coinbase in early December, is fueling bullish sentiment.
Solana-based memecoin launchpad Pump.fun is facing scrutiny after blockchain data revealed that it transferred $436 million in USDC to Kraken since mid-October.
The move followed the $19 billion October market crash, which crushed speculative appetite and drove Pump.fun’s monthly revenue down to $27.3 million, its lowest since July.
According to Nansen analyst Nicolai Sondergaard, retail traders have been repeatedly burned, and the slowdown in activity has worsened since the crash.
While on-chain analysts say the transfers may reflect institutional private placement flows rather than outright sales, the platform’s wallet still holds $855 million in stablecoins and $211 million in SOL, leaving the market uneasy.
Also Read: Bitcoin Price Recovers Slightly Above $86,000 After Heavy ETF Outflows
South Korea’s Financial Intelligence Unit (FIU) is preparing major sanctions against several leading exchanges, including Korbit, GOPAX, Bithumb, and Coinone, after inspections into anti-money laundering compliance.
The move follows the $24 million fine issued to Dunamu, operator of Upbit, after regulators uncovered serious violations. Dunamu was barred from processing new deposits and withdrawals for three months.
The enforcement comes as South Korea faces continued delays with its crypto tax plan, which was to have been implemented in 2027, but delays are expected again.
Despite the aggressive enforcement, the government is also advocating for innovation through a newly formed crypto policy task force.
Institutional accumulation continues to expand as Tom Lee’s Bitmine purchased 28,625 ETH, worth over $82 million, through a FalconX-linked wallet.
This comes days after another 21,537 ETH acquisition, bringing its recent total to more than 50,000 ETH.
The back-to-back purchases show strong institutional conviction in Ethereum during a period of market volatility.
Also Read: How Low Could Ethereum Really Go? Shocking Price Predictions
Thailand’s largest cryptocurrency exchange, Bitkub, is considering a $200 million IPO in Hong Kong as early as next year, according to reports.
The company originally planned to go public in Thailand, but deteriorating market conditions have made a domestic listing far less attractive.
Thailand’s stock market has been one of the poorest performers among global markets in 2025, with the SET index down nearly 10% year-to-date and listing values down more than 12%.
For Bitkub, an IPO in Hong Kong would provide access to global institutional capital, better valuation prospects, and a more crypto-friendly business environment.
According to Tokenomist, Hyperliquid is scheduled to unlock $308 million in HYPE tokens on November 29, 2.66% of its circulating supply.
The team recently unstaked 2.6 million HYPE tokens valued at $85.8 million, which some traders speculated has to do with a potential sell-off, although unstaking does not necessarily imply selling.
This is the first unlock since the TGE that occurred in November 2024. According to the official Medium article, the core contributors' tokens are locked for one year from the TGE, and most vesting is hopefully completed from 2027 to 2028.
1. Why did HBAR jump nearly 10% today?
HBAR rallied due to higher trading volume, improving market sentiment, and anticipation of 24/7 futures trading on Coinbase.
2. Why is Pump.fun under scrutiny?
Pump.fun transferred $436M in USDC to Kraken, raising concerns about liquidity and potential selling pressure, despite claims it may involve private placement flows.
3. What penalties are South Korean exchanges facing?
The FIU is preparing heavy sanctions for Korbit, GOPAX, Bithumb, and Coinone after AML violations similar to those found at Upbit.
4. Why is Bitkub considering a Hong Kong IPO?
Thailand’s stock market slump and Hong Kong’s crypto-friendly regulatory environment make Hong Kong a more attractive listing destination.
5. What is happening with Hyperliquid’s HYPE token unlock?
Hyperliquid will unlock $308 million worth of HYPE (2.66% supply) on Nov 29, following a recent unstaking of 2.6 million tokens that stirred market concerns.
