Click on the link to enter the meeting: https://meeting.tencent.com/p/9309732027 The future of blockchain is not only about code and protocols, but also the cornerstone of reshaping trust, and Ethereum is at the core of this turning point. In the wave of cryptocurrencies, Ethereum (ETH), as the second largest cryptocurrency after Bitcoin, has gradually evolved from a "digital oil" to the cornerstone of a decentralized financial world. As of November 2025, the trading price of Ethereum is around $3500, an increase of over 44% compared to the previous year, demonstrating strong market resilience. With institutional investors such as JPMorgan investing $102 million in ETH through Bitmine and the approval of Ethereum ETFs, the continuous influx of institutional funds is reshaping Ethereum's market position. For long-term investors, understanding the intrinsic value drivers of Ethereum is more important than focusing on short-term price fluctuations. ——As of November 2025, Ethereum is trading in the $3500-3900 range, a slight correction from its historical high of $4946 set in August 2025, but this provides a more attractive entry opportunity for long-term investors. ——Throughout the year, Ethereum prices have shown significant volatility, soaring from a low of $1386 in April to a high of $4953 in August, highlighting the unique price volatility characteristics of the cryptocurrency market. ——The market value of Ethereum has reached $465.68 billion, accounting for over 12% of the total market value of the entire cryptocurrency market, solidifying its position as the second largest asset in the cryptocurrency field. ——The market dominance of Ethereum is not only reflected in its price, but also in its powerful network effects - as the infrastructure for most DeFi protocols, NFT markets, and Web3 applications, Ethereum has built an ecosystem advantage that is difficult to replicate. 【 02 Historical Review: The Evolution Path from Birth to Maturity 】 ——Since its inception in 2015, Ethereum has gone through a magnificent development path. Looking back at its price history, we can clearly see an evolutionary trajectory from experimental technology to global digital value storage. ——According to historical data, the average price of Ethereum was only $0.90 in 2015, but by 2021, its average annual price had reached $2804, achieving hundreds of times growth. ——This growth has not been smooth sailing, as Ethereum has undergone multiple bull bear transitions: 2017-2018: Driven by the ICO boom, ETH prices reached a high of around $1400 at the beginning of 2018 and then fell to around $80. 2021-2022: Amidst the NFT and DeFi craze, Ethereum reached a historic high of $4891 in November 2021, before entering a bear market and dropping to a low of $896 in 2022. 2024-2025: With the approval of Ethereum ETF and the influx of institutional funds, the price will break through $4900 and reach a new high in 2025. The history of Ethereum shows that despite short-term volatility, long-term holders often receive substantial returns. Investors who have held since 2015 have witnessed investment returns exceeding 4000 times. Observing the data on the chain, we will find that whales are quietly accumulating - the number of addresses holding 10000 to 100000 ETH has increased by 52% since April 2025. At the same time, nearly 36.19 million ETH were pledged in the network, equivalent to nearly 30% of the circulating supply. Disclaimer: The above content only represents the author's personal opinion and is intended to assist investors in understanding information related to the capital market. It does not constitute any investment advice and does not represent the position or viewpoint of AiCoin. The market is risky and investments should be made with caution.

[TON Strategy Q3 Financial Report: Total Holdings Reach 217.8 Million Tokens] Nasdaq-listed company TON Strategy released its Q3 2025 financial report, revealing that as of September 30, TON holdings amounted to 217.5 million tokens, of which 177.1 million tokens have been staked. Through staking rewards, the company earned 336,000 TON and $707,000 in staking income, increasing total holdings to 217.8 million tokens. Additionally, the company has approved a $250 million stock repurchase plan and repurchased 1,984,072 shares at a price below the per-share book value.

Bitcoin's Net Unrealized Profit (NUP) ratio has dropped to 0.476, a level that historically signals short-term market bottoms.

[Coinbase Hires Former Goldman Sachs Partner Liz Martin to Advance 'Everything Exchange' Strategy] Coinbase has appointed former Goldman Sachs partner Liz Martin as Vice President of Product (VP, Product), responsible for the Markets and Derivatives divisions, to drive its 'Everything Exchange' strategy. Martin worked at Goldman Sachs for 25 years, where she served as Head of Global Markets and Consumer Finance Partnerships. Coinbase stated that she will lead the exchange's operations, promote derivatives development, and manage the global markets team. The strategy encompasses trading, lending, staking, consumer and yield products, while also exploring areas such as tokenized stocks, prediction markets, and early token sales.

The liquidity pattern of Bitcoin shows an increase in stablecoin reserves, while the supply of Bitcoin on exchanges decreases. The market may be concerned about whether the price of Bitcoin will reach $124000. （Cointelegraph）