Gate Research Institute: PAPARAZZI has risen over 60% in 24 hours ｜ Multiple ecological activities of Monad have been launched

Crypto Market Overview

• BTC (0.32% | Current Price 91,028 USDT): After several days of wide fluctuations, the BTC price saw a significant surge on the 27th, briefly rising to around 91,942 USDT, refreshing recent highs. The short-term moving averages (MA5, MA10) showed a bullish arrangement after a rapid rise, with the price strongly breaking away from the dense area of moving averages in a short time and maintaining above MA30, indicating that bullish momentum continues to dominate in the short term. In the subsequent trend, BTC experienced a slight pullback after facing pressure at high levels, but overall it remained in a consolidation above 91,000 USDT. During the pullback process, the trading volume did not significantly increase, indicating that selling pressure is relatively limited, showing more of a structure of high-level consolidation and digestion.
• ETH (-2.19% | Current Price 3,000 USDT): After several days of consolidation, ETH experienced a rapid surge on the 27th, with prices climbing to a peak of around 3,071 USD, setting a new local high. During the surge, trading volume increased significantly, and the short-term moving averages (MA5, MA10) quickly turned upward, forming a bullish arrangement. The price also effectively broke through and stabilized above MA30, indicating that bullish momentum is dominating in the short term. After reaching the pressure zone above 3,070 USD, ETH experienced a pullback and is currently testing the 3,000 USD level, entering a stage of high-level consolidation.
• Altcoins: Most mainstream altcoins are experiencing slight declines, with market sentiment being primarily “neutral” or “buying.” The Fear and Greed Index today reports 25, still in the extreme fear zone, indicating that market sentiment has not yet recovered.
• Macro: On November 27, the S&P 500 index rose by 0.69%, closing at 6,812.61 points; the Dow Jones index increased by 0.67%, closing at 47,427.12 points; the Nasdaq index rose by 0.82%, closing at 23,214.69 points. As of November 28, 10:50 AM ( UTC+8, the spot gold price is temporarily reported at 4,187.34 USD per ounce, with a 24H increase of 0.71%.

Popular Tokens on Juejin

BBT BabyBoomToken (+83.14%, circulating market cap 107 million USD)

According to Gate market data, the current price of the BBT token is $0.289, up approximately 83.14% in the last 24 hours. BabyBoomToken (BBT) is a blockchain-based project aimed at addressing the global decline in birth rates. BBT attracts users by rewarding their participation in family planning-related activities such as pregnancy, childbirth, and parenting. Users can earn BBT by participating in various activities within the BabyBoom and Sellon dApp ecosystem and redeem them for real-life rewards. The project provides practical support for families through blockchain technology and a rewards system, and aims to promote community growth globally.

BBT has surged significantly in the past 24 hours, mainly driven by multiple factors. First, the token has high price elasticity among small-cap projects, making it prone to rapid spikes when trading volume increases significantly; secondly, BabyBoomToken has attracted market attention with its unique concept of “incentivizing family planning through blockchain, responding to the global decline in birth rates,” leading to emotional buying after discussions heated up on social media and in communities. Additionally, the reward mechanism within the BBT ecosystem and recent dApp activities have further enhanced user engagement and token demand. Overall, the combination of trending topics and increased trading volume has resulted in a strong upward movement for BBT in a short period.

PAPARAZZI Paparazzi Token (+63.50%, circulating market cap 34.71 million USD)

According to Gate.io market data, the current price of the PAPARAZZI token is $0.01042, with a 63.50% increase in the last 24 hours. The Paparazzi platform allows users to create personal blogs, share diverse content, and mint it as NFTs for trading in the Web3 environment. Users can write articles on topics such as blood type, zodiac signs, fortune-telling, MBTI, and convert the content into NFTs to generate income. Paparazzi is not just a blogging platform; it is a revolutionary model where users can create digital assets and sell them to earn economic value.

PAPARAZZI has seen a significant increase in the past 24 hours, mainly influenced by the rise in trading volume and the rebound in market attention. This token is backed by a Web3 content creation and social ecosystem, generating certain topics around content publishing, NFT interactions, and creator incentives. Recently, it may have attracted more short-term capital inflow due to increased community activity or exposure on the application side. Due to the relatively limited circulation of the token, new buying can push up the price in a short time, creating a coherent upward momentum. Overall, this round of upward movement reflects more of the market sentiment and capital-driven dynamics, with the concentrated explosion of short-term enthusiasm prompting PAPARAZZI to record strong gains within 24 hours.

SQD Subsquid (+51.98%, circulating market cap 14.8 million USD)

According to Gate.io market data, the current price of SQD token is $0.09211, with an increase of approximately 51.98% in the last 24 hours. Subsquid Network is a decentralized data infrastructure project aimed at providing cross-chain, scalable, high-performance on-chain data indexing and querying services for Web3 developers and applications.

Subsquid Network has risen in the past 24 hours, mainly influenced by the market's improved sentiment towards the Web3 infrastructure sector and the increased attention of short-term capital. As the data demand in the multi-chain ecosystem grows, the market's expectations for decentralized data services have strengthened, while the recent increase in trading volume has boosted buying momentum, resulting in a significant upward movement of SQD in a short period. In addition, infrastructure projects have strong narrative support, and once favorable sentiment or news emerges, they are more likely to attract capital to drive price increases, thus forming a substantial rise in the past 24 hours.

Alpha Interpretation

MegaETH has issued a full refund due to chaos in pre-stored fundraising and plans to restart the cross-chain bridge.

MegaETH announced that it will fully refund all user funds in the Pre-Deposit Bridge, which was originally intended to preload liquidity for the upcoming USDm launch, but has turned into a disordered fundraising due to a series of technical errors and operational chaos. The project team stated that the execution process was “too hasty,” including issues such as the contract using the wrong SaleUUID, overly strict traffic limits set by the KYC service, and random opening times for fundraising, resulting in an extremely unfair user experience. All funds will be returned through a new smart contract that is currently under audit, and the team emphasized that the funds have never faced any risk.

During the chaotic process, the fundraising cap was incorrectly adjusted multiple times: first, the $250 million limit was quickly filled by users refreshing the page within minutes, and then the team attempted to raise the cap to $1 billion, but it got out of control due to multi-signature transactions being executed externally in advance. Subsequently, adjustments to raise the limit to $400 million and $500 million also could not respond to the influx of funds in time, and the team ultimately decided to terminate the process and issue full refunds. MegaETH stated that it will reopen the USDm to USDC conversion bridge with stricter controls in the future, and this incident has also put greater pressure on the subsequent mainnet and roadmap execution.

Monad mainnet launch, concentrated release opportunities for popular projects in the ecosystem.

After the launch of the Monad mainnet, multiple ecological activities were simultaneously initiated, providing users with various income channels such as deposit wealth management, on-chain staking, trading rebates, and blockchain gaming. Among them, the MON deposit activity in collaboration with Telegram, offering an annualized return of 17%, has attracted the most attention. Users can deposit MON into the built-in wallet to earn daily interest and automatically reinvest.

In addition, several ecological projects such as FastLane Labs, Magma, and Folks Finance have successively launched MON staking points or high annual deposit plans, with some annual yields exceeding 30%, providing users with a dual opportunity of “stable on-chain returns + airdrop potential.” Platforms like Merkl, Accountable, and Curvance also offer stablecoin mining plans for MON tokens, with annual yields exceeding 60%, further enhancing the capital attractiveness of the Monad ecosystem.

Ethereum increases block Gas limit to 60 million, throughput hits a new high on the eve of the Fusaka upgrade.

The Ethereum block gas limit has officially increased from 45 million to 60 million after more than half of the validators agreed, doubling the network's base capacity within a year. This adjustment stems from long-term efforts by developers and users, combined with EIP-7623, client performance optimizations, and multiple rounds of testnet validation, ensuring stable block propagation under higher loads. An Ethereum Foundation researcher stated that this marks a significant achievement in the community's ongoing efforts to scale, and the throughput of major on-chain scaling networks has also set new records, with a total TPS of 31,000 reached in the past 24 hours.

The upgrade occurred a few days before the Fusaka hard fork and will introduce a key PeerDAS data availability scheme, further enhancing the scalability of rollups. Vitalik emphasized that future scaling strategies will be more targeted, possibly incorporating increased gas costs for certain recomputation operations to maintain network efficiency while enhancing effective block capacity. With Fusaka set to go live on December 3, the Ethereum ecosystem is entering a new phase of performance improvement and foundational layer expansion. <br> References:

• Gate, https://www.gate.com/trade/BTC_USDT
• Farside Investors, https://farside.co.uk/btc/
• Gate, https://www.gate.com/trade/ETH_USDT
• Farside Investors, https://farside.co.uk/eth/
• Gate, https://www.gate.com/crypto-market-data
• Investing, https://investing.com/indices/usa-indices
• Investing, https://investing.com/currencies/xau-usd
• CoinGecko, https://www.coingecko.com/categories
• Coinbase, https://www.coindesk.com/markets/2025/11/28/megaeth-s-usd500m-pre-deposit-turns-into-a-full-rewind-after-missteps-pile-up
• Odaily, https://www.odaily.news/post/5207813
• The Block, https://www.theblock.co/post/366246/layerzero-foundation-proposes-110-million-acquisition-of-stargate-bridge-as-token-struggles

<br> Gate Research Institute is a comprehensive blockchain and encryption research platform that provides readers with in-depth content, including technical analysis, hot insights, market reviews, industry research, trend forecasts, and macroeconomic policy analysis.

Disclaimer Investing in the crypto market involves high risks. Users are advised to conduct independent research and fully understand the nature of the assets and products being purchased before making any investment decisions. Gate does not assume any responsibility for any losses or damages resulting from such investment decisions.