\n
<\/p>\n
The latest on-chain data from Presto Research shows that November 2025 brought a broad cooldown across the crypto economy, with active users, total value locked (TVL), protocol fees, and decentralized exchange (DEX) volumes all falling at the same time.<\/p>\n
The pullback lands during a month already marked by volatile market swings, adding fresh signs that user engagement continues to thin even as institutional interest in Bitcoin grows.<\/p>\n
According to Presto Research, the same three chains, Tron, BNB Chain, and Solana, have continued to dominate<\/a> active users for seven months straight, with Tron once again holding the top spot.<\/p>\n A similar pattern appeared in network and protocol TVL. The firm highlighted that price pressure across the market cut the dollar-denominated value of locked assets, with Bera Chain\u2019s TVL dropping by more than half during the month.<\/p>\n Many well-known DeFi platforms also saw their own TVL values shrink as token prices slid and user activity cooled. Sui and Sonic both saw a more than 40% drop, with Avalanche hit by a nearly 30% dip.<\/p>\n However, not all metrics painted a bleak picture. Stablecoin balances on Ethereum climbed by more than $1.5 billion, according to Presto\u2019s report, and the chain also led in bridged capital, taking in over $200 million.<\/p>\n Still, these pockets of strength were outweighed by shrinking activity elsewhere. Solana, Ethereum, and Base, typically among the highest fee-generating networks, saw the steepest monthly fee declines, signaling a noticeable slowdown in transactions. DEX volumes told the same story, with Uniswap recording the largest month-on-month drop of more than $500 million, followed by Curve\u2019s nearly $300 million dip.<\/p>\n This downturn arrived during a turbulent week for markets. Earlier in the month, Bitcoin briefly dipped below $84,000 before rebounding to around $92,000 at the time of writing.<\/p>\n Analysts such as CoinCare have linked<\/a> the rebound to a rush of futures buying after Vanguard approved trading for several spot crypto ETFs, calling the shift the strongest buy-side futures activity since early 2023.<\/p>\n Even with improving conditions in stocks and gold, crypto markets spent early December wrestling with lighter inflows, pushing Arca CIO Jeff Dorman to describe<\/a> the downturn \u201cone of the strangest crypto sell-offs ever,\u201d and noting that pressures from interest rates or stablecoin fears were absent. Instead, he argued that crypto-native traders appear drained while new capital has been slow to appear.<\/p>\n That backdrop could provide context for November\u2019s weakening on-chain picture. Despite rising institutional involvement, amplified by ETF access for millions of Vanguard clients, retail and DeFi participation have not kept pace.<\/p>\n The post Crypto On-Chain Activity Plunges in November Across Key Metrics<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n\nMacro Strength, Institutional Interest, and a User Pullback<\/h2>\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"The latest on-chain data from Presto Research shows that November 2025 brought a broad cooldown across the crypto…\n","protected":false},"author":2,"featured_media":21094,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-38928","post","type-post","status-publish","format-standard","has-post-thumbnail","category-crypto","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/38928","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=38928"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/38928\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/21094"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}