Gate Research: Treasury Open Interest Hits All-Time High | AVAX One Acquires 9.37 Million AVAX

• Market Commentary: Over the past 24 hours, Bitcoin stabilized around the $86,000 level and began to rebound, likely supported by renewed expectations of rate cuts. However, capital remains cautious, and it is still uncertain whether BTC can form a solid bottom. Ethereum, after consolidating in the $2,700–$2,800 range for several days, began a recovery on Tuesday and gained 5.7% in the past 24 hours. Despite ongoing selling pressure, institutions such as BitMine continue to accumulate large amounts of ETH, suggesting confidence that Ethereum is entering a new accumulation phase.
• Trending Tokens: PIPPIN surged 103.36%, driven by renewed interest in its AI-themed narrative and meme storytelling within trader communities. L3 gained 82.58% in the past 24 hours, fueled by its token scarcity model. Particle Network rose 36.32% following its November 24 partnership with the Timestamping Alliance, enabling cross-chain invoice payments using PARTI.
• Alpha Insights: AVAX One spent approximately $110 million to acquire 9.37 million AVAX, strengthening institutional confidence and visibility for the AVAX ecosystem. Nasdaq-listed Enlivex announced a plan to raise $212 million to build a treasury for the Rain token, making it the first public company to adopt a treasury strategy centered on prediction-market tokens. Open interest in CME Treasury futures reached a record high, indicating that investors are increasing their exposure to interest-rate risk amid uncertainty around economic growth and the timing of rate cuts.

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Gate Team
November 25, 2025

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