Gate Institute: FG Nexus sells over 10,000 ETH | Tether announces investment in Parfin

Cryptocurrency Market Overview

• BTC (-5.68% | Current price 86,923 USDT): Over the past 24 hours, BTC has shown a clear downward trend overall, with prices weakening from around $92,000, driven by multiple large downward-moving 1-hour candlesticks, accelerating the decline to a low of about $86,100, with a significant cumulative drop. Overall, BTC has exhibited a structure of sharp decline followed by weak consolidation over the past day. In the short term, it remains in a recovery zone. It remains to be seen whether it can regain the $90,000 level to alleviate downside momentum.
• ETH (-6.14% | Current price 2,852 USDT): Today, ETH prices generally maintained a weak trend, showing a synchronized accelerated correction with BTC. After multiple unsuccessful attempts to rebound in the short term, prices dropped sharply, reaching a low of about $2,790. The overall pattern is “weak oscillation after a sharp drop,” with the $2,800 area serving as a key short-term support. To reverse the current downward pressure, the price needs to break back above the $2,950–3,000 range to confirm a stop-loss signal.
• Altcoins: Most mainstream altcoins remain in a downward trend, with market sentiment mainly “neutral” or “buying.” The Fear & Greed Index today is at 14, entering an extreme fear zone, significantly lower than the average of 25 last month, indicating insufficient bullish energy in the current market.
• Macro: As of November 20, the S&P 500 Index fell 1.55%, closing at 6,538.97 points; the Dow Jones Industrial Average dropped 0.84%, closing at 45,752.26 points; the Nasdaq Composite declined 2.15%, closing at 22,078.05 points. As of 10:00 AM (UTC+8) on November 21, spot gold is temporarily priced at $4,072 per ounce, with a 24H decline of 0.13%.

Hot Tokens to Watch

( TNSR Tensor (+228.49%, Market Cap $92.34 million)

According to Gate data, TNSR token is currently priced at $0.2665, up approximately 228.49% in 24 hours. Tensor ###TNSR( is a professional-grade NFT trading platform built on the Solana blockchain, along with its ecosystem tokens. Its parent project is Tensor Foundation, which focuses on providing advanced trading tools, real-time analytics, and liquidity aggregation services for NFT traders, creators, and high-frequency participants.

In the past 24 hours, Tensor (TNSR) price surged significantly, driven by synchronized improvements in technical and capital conditions. First, TNSR broke out strongly from a multi-day declining channel, triggering technical buy signals. Indicators like MACD and ADX showed bullish dominance, quickly reversing market sentiment. Meanwhile, activity in derivatives markets increased sharply, with open interest rising by nearly 960%, indicating active leverage use and pushing trading volume and volatility higher.

) DYM Dymension (+119.67%, Market Cap $68.64 million)

According to Gate data, DYM is currently priced at $0.1581, up 119.67% in 24 hours. Dymension is an L1 blockchain network based on Cosmos SDK, focusing on providing security, liquidity, and interoperability infrastructure for RollApps (modular blockchain applications).

In the past 24 hours, DYM experienced a clear price increase, mainly driven by improved market sentiment and technical strength. First, DYM broke through key resistance after a period of consolidation, causing trading volume to spike, which traders generally interpret as a short-term trend reversal signal. Buy orders rapidly increased, accelerating the price upward. Additionally, the number of RollApps deployed within the Dymension ecosystem and cross-chain activity have continued to grow, enhancing investor confidence in the project’s fundamentals and long-term potential. Furthermore, social media exposure and trading platform activity increased simultaneously, further attracting capital and driving DYM to rise rapidly in a short period.

GRASS Grass (+68.72%, Market Cap $254 million)

According to Gate data, GRASS is currently priced at $0.562, up about 68.72% in 24 hours. Grass is a token operating within the Solana ecosystem, aiming to convert users’ idle internet bandwidth into rewarded resources. Users can install the Grass app or extension to share unused bandwidth from their devices, which supports network data services and AI model training.

In the past 24 hours, GRASS’s price surged significantly due to several factors: first, growing market interest in Grass’s DePIN (decentralized physical infrastructure network) + AI bandwidth economy model. Users and institutions are increasingly focused on “monetizing idle resources,” with Grass being an early player in this field. Additionally, trading volume spiked within a day, reflecting new capital inflows and changing market expectations for the token. From a technical perspective, GRASS broke out after a period of consolidation at lower levels, with accelerated buy-in further pushing the price upward. However, sharp increases usually come with higher volatility and risk of pullback, so investors should remain cautious.

Alpha Insights

FG Nexus Sells Over 10,000 ETH to Raise Funds for Stock Buybacks to Support Share Price

Ethereum asset management firm FG Nexus recently sold more than 10,922 ETH (approximately $33 million) and combined it with a $10 million loan to repurchase 3,400,000 shares, representing about 8% of circulating shares. The average buyback price was $3.45 per share, below its net asset value of $3.94. After the announcement, ETH price temporarily dropped about 2%, and Bitcoin fell about 1%, then partially rebounded.

This large-scale sale highlights ongoing financial pressures faced by digital asset companies, with many firms’ stock prices falling below the net value of their crypto holdings. Last month, Ethereum treasury company ETHZilla also sold tokens worth around $40 million for share buybacks. Currently, FG Nexus still holds about 40,000 ETH and $37 million in cash and USDC. Market concerns persist about how long these companies can sustain operations amid continuous asset sales.

Tether Announces Investment in Parfin to Accelerate Adoption of USDT among Latin American Institutions

Recently, stablecoin issuer Tether announced a strategic investment in Latin American digital asset platform Parfin to promote institutional adoption of its flagship USD stablecoin USDT in the region. The investment aims to enhance the efficiency of financial institutions’ blockchain-based settlement processes, including cross-border payments, tokenization of real-world assets (RWA), trade finance, commercial receivables, and credit card receivables.

Founded in 2019, Parfin focuses on providing digital asset custody, tokenization, trading, and management services for financial institutions, with regulatory registration and compliance licenses obtained in Brazil, Argentina, and other Latin American countries.

Fear & Greed Index drops to 15, market sentiment returns to “Extreme Fear”

The latest reading of the CoinMarketCap crypto Fear & Greed Index is 15, indicating market sentiment is deeply in “Extreme Fear,” a significant decline from yesterday’s 16, last week’s 25, and last month’s 30. Over the past year, the index has fluctuated dramatically, dropping rapidly from a high of 88 in November 2024, repeatedly hitting extreme lows in 2025. As the index declines, Bitcoin prices and trading volume trend downward, with sentiment and price movements weakening simultaneously, reflecting a continued reduction in capital inflows.

The overall market experienced a relatively active greed phase from late 2024 to early 2025, but as macroeconomic and industry uncertainties increased, sentiment gradually weakened, often entering panic zones in the second half of 2025. The current index again approaches the yearly lows, indicating a significant contraction in risk appetite. Investors tend to adopt a wait-and-see attitude, with liquidity also reduced, and short-term sentiment remains under pressure.
References:

• Gate, [https://www.gate.com/trade/BTC_USDT]###https://www.gate.com/trade/BTC_USDT(
• Farside Investors, [https://farside.co.uk/btc/])https://farside.co.uk/btc/(
• Gate, [https://www.gate.com/trade/ETH_USDT])https://www.gate.com/trade/ETH_USDT(
• Farside Investors, [https://farside.co.uk/eth/])https://farside.co.uk/eth/(
• Gate, [https://www.gate.com/trade/GT_USDT])https://www.gate.com/trade/GT_USDT(
• Gate, [https://www.gate.com/price])https://www.gate.com/price(
• Gate, [https://www.gate.com/launchpool/PLANCK?pid=433])https://www.gate.com/launchpool/PLANCK?pid=433(
• Coindesk, [https://www.coindesk.com/business/2025/11/20/ether-treasury-firm-fg-nexus-unloads-nearly-11k-eth-to-fund-share-buyback])https://www.coindesk.com/business/2025/11/20/ether-treasury-firm-fg-nexus-unloads-nearly-11k-eth-to-fund-share-buyback(
• Panews, [https://www.panewslab.com/articles/fbeeb3e6-4a35-4462-889c-0d09055ea263])https://www.panewslab.com/articles/fbeeb3e6-4a35-4462-889c-0d09055ea263(
• Coinmarketcap, [https://coinmarketcap.com/charts/fear-and-greed-index/])https://coinmarketcap.com/charts/fear-and-greed-index/(

Disclaimer Investing in cryptocurrency markets involves high risk. Users are advised to conduct independent research and fully understand the nature of the assets and products before making any investment decisions. )[Gate]https://www.gate.com/( not responsible for any losses or damages caused by such investment decisions.