Ndax Weekly TL;DR Nov 17

• Chances of December U.S. Rate Cut Drop Below 50% as Market Sentiment Weakens
• Sonic Labs Introduces New Fee Model Designed to Support Token Deflation and Builder Rewards
• Injective Launches Native EVM Support on Its Cosmos-Based Layer 1 Blockchain

The likelihood of a U.S. Federal Reserve interest rate cut in December has declined to 45.9%, down from nearly 67% earlier in November, based on data from the Chicago Mercantile Exchange. The shift follows changing market expectations as investors assess recent economic signals. While some major financial institutions continue to forecast multiple rate cuts in 2025, Federal Reserve Chair Jerome Powell has said that an additional reduction this year is not guaranteed. The Fed’s October 25-basis-point cut had been widely anticipated, and markets showed limited reaction. Cointelegraph

Sonic Labs has outlined an updated tokenomics model that includes a revised fee monetization system intended to make its native token deflationary while providing incentives for network participants. Under the new structure, builders will receive tiered rewards based on network usage, validators will receive a fixed share of fees, and the remaining tokens will be burned. The changes will be subject to an on-chain governance vote. The Block

Injective has introduced native Ethereum Virtual Machine (EVM) functionality to its Cosmos-based Layer 1 network, expanding compatibility and allowing developers to deploy Ethereum-style applications directly on the chain. The update is part of the project’s broader “MultiVM” roadmap, which aims to support multiple virtual machines—including WebAssembly and, eventually, the Solana Virtual Machine—within a shared environment. Injective says the integration is intended to simplify development, improve interoperability, and provide users with access to a wider range of applications while maintaining fast transaction finality and low fees. The Block

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News Nuggets

• SEC Chair Outlines Potential Framework for Classifying Digital Assets crypto news
• Hedera Integrates Wrapped Bitcoin to Expand Bitcoin-Focused DeFi Access crypto news
• Michael Saylor Says Strategy Has Not Sold Bitcoin and Continues Accumulating Cointelegraph
• Czech National Bank Launches $1 Million Pilot Portfolio to Study Digital Assets crypto news
• Chainalysis Reports Pig-Butchering Scams Expanding Into Transnational Security Concern Cointelegraph
• Taiwan to Study Potential Use of Bitcoin in National Strategic Reserves crypto news
• SEC and CFTC to Resume Full Operations Following End of 43-Day U.S. Government Shutdown Cointelegraph

As of 11-17-2025 at 9:25 AM EST

Market Summary

• Over the past seven days, the global cryptocurrency market capitalization has decreased from CA$5.03 trillion to CA$4.47 trillion.
• Bitcoin's market dominance stands at 58.8%, while Ethereum's share is 11.8%. 

Performance

• Over the past 24 hours, the price of BTC has fluctuated between CA$131K and CA$134K registering a 11% change over the past week and a market cap of CA$2.6 trillion. At Ndax, the weekly movers are UNI, which saw a 12% increase in the last seven days reaching a market cap of CA$6.9 billion, and ASTER, which experienced a 11.63% rise with a market cap of CA$3.5 billion. (At time of writing)
   

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• Nov 17 – Canada Inflation Rate Announcement  
• Nov 19 – US FOMC Minutes  
• Nov 20 – US Initial Jobless Claims 

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