Crypto Market Mixed as Privacy Tokens Surge and Bitcoin Struggles
The crypto market had a rollercoaster week. Big names like Bitcoin, XRP, and Cardano slipped lower — but privacy coins like Monero (XMR), Zcash (ZEC), and Dash (DASH) went the other way, soaring in price as traders piled in.
At the same time, several major crypto projects are about to unlock millions of dollars’ worth of tokens, while one of the biggest names in stablecoins — Circle Internet — is preparing to release its financial results amid a sharp drop in its stock price.
Bitcoin Falls Below $100K as Market Cools
Bitcoin had another tough week. The world’s largest cryptocurrency fell from around $111,000 in early November to about $98,860, pulling the total crypto market cap down to $3.4 trillion.
Investors seem cautious, with profit-taking, regulation worries, and slow momentum in global markets weighing on prices. While some altcoins followed Bitcoin lower, a few privacy-focused coins saw strong demand — likely driven by traders looking for more anonymity and less tracking on-chain.
All Eyes on Circle’s Earnings This Week
One of the biggest stories this week is Circle Internet, the company behind USDC and EURC stablecoins.
Circle’s stock has taken a serious hit — down over 65% from its all-time high — and investors are waiting to see if this week’s earnings report can turn things around.
According to reports, the company’s USDC growth has slowed, with its market cap stuck at about $75 billion. Meanwhile, transaction volumes have dropped 24% in the past month to $2.4 trillion, and the number of active addresses is also down by 6% to 13.2 million.
The company’s revenue is expected to hit around $700 million for the last quarter, but analysts are watching closely since lower interest rates could start eating into profits — a key part of Circle’s business model.
There’s also another potential shake-up ahead: Circle’s lock-up period ends in December, which could put more pressure on the stock if insiders begin selling.
So this week’s financial results could play a big role in shaping sentiment across the stablecoin sector.
Big Token Unlocks on the Way
Beyond earnings, the other big story for traders is a wave of token unlocks happening across the crypto market.
Here are the biggest ones to watch this week:
- Aster (ASTR): Backed by Changpeng Zhao, Aster is unlocking 200 million tokens — worth around $210 million. That means about 25% of its supply has now been unlocked.
- Linea: This new Layer-2 network will release 2.88 billion tokens (worth roughly $35 million) on Monday.
- Starknet (STRK): Unlocking 163 million tokens, with a market cap near $628 million.
- Zebec Network: Set to release 1.04 billion tokens, which could create some short-term volatility.
- Sei (SEI): The biggest single unlock of the week — $21 million worth of tokens hitting the market.
- Smaller unlocks include Chainbase, Boba Network, and Gods Unchained.
Token unlocks usually increase selling pressure in the short term, especially when markets are already weak. However, some traders see them as entry opportunities, depending on how much of the supply has already been priced in.
The Bottom Line
The crypto market right now is caught between momentum and uncertainty.
On one hand, Bitcoin’s pullback below $100K has cooled the hype. On the other, Circle’s upcoming earnings, massive token unlocks, and rising demand for privacy coins are keeping traders busy and prices volatile.
The big question heading into next week:
Will Circle’s report or any surprise rally in altcoins shift the market mood — or are we in for more sideways trading as the year winds down?
