Projects to Watch (November 24th - November 30th)

1- Virtuals Protocol

Introduction: Virtuals Protocol lets users create and own autonomous AI agents that operate as tokenized assets across apps, games, and social platforms. Each agent can act, learn, and generate on-chain value, powered by the project’s AI framework and its native VIRTUAL token. The protocol aims to turn AI agents into decentralized, monetizable digital entities that communities can launch and co-own.

Catalyst: Virtuals Protocol’s deep integration with Coinbase’s BASE network positions $VIRTUAL as the foundational asset powering the first AI-agent ecosystem built on a major L2 backed by a top U.S. exchange. The collaboration gives Virtuals ultra-low fees, high throughput, and direct access to BASE’s expanding developer and user flow, enabling seamless deployment, trading, and scaling of AI agents while locking $VIRTUAL into every creation through its liquidity-pairing mechanism. As BASE becomes the hub for consumer-facing apps and onchain AI experimentation, $VIRTUAL directly captures that demand - with each new agent requiring VIRTUAL, each liquidity pool tightening supply, and each ecosystem expansion reinforcing the token’s role as the primary economic engine behind the leading AI-agent platform on BASE.

2- Ethena

Introduction: Ethena is a DeFi protocol that issues a crypto-native stablecoin USDe via a delta-hedged system - users bond staked ETH (or equivalent collateral) and the protocol automatically short-hedges that position in futures to maintain a stable $1 peg, without relying on fiat reserves or centralized banks. Its native token, $ENA, launched in April 2024 and serves both as the governance token and operational backbone of the Ethena ecosystem.

Catalyst: The core catalyst for ENA stems from Ethena’s synthetic-dollar model: because USDe is backed by ETH collateral but hedged via derivatives, the protocol offers a censorship-resistant, crypto-native stablecoin - attractive in a world wary of fiat-backed stablecoins. As demand for USDe grows (especially among users seeking decentralized dollar-pegged assets plus yield), ENA becomes essential: it underpins governance, risk-management, and ecosystem expansion (collateral types, integrations, features).reinforcing the token’s role as the primary economic engine behind the leading AI-agent platform on BASE.

1- Satsdaq

Introduction: Satsdaq, developed by Xverse, is a new, all-in-one terminal designed for discovering, analyzing, and trading Bitcoin-based assets, specifically addressing the current fragmentation in the ecosystem.

Catalyst: Satsdaq, a new trading terminal by Xverse, tackles the fragmentation issue in the Bitcoin ecosystem by consolidating discovery, analytics, and trading into one secure, easy-to-use platform, directly integrated with the Xverse wallet.

Traders in the ecosystem currently waste time aggregating information across social media, analytics sites, and exchanges, Satsdaq aims to accelerate trading - especially in fast-moving markets like memecoins.

Launched with support for the Spark L2 and its BTKN tokens, the terminal plans to quickly expand support to Stacks and Runes, with the ultimate goal of becoming the single, comprehensive terminal for the entire Bitcoin economy.

By being the product of Xverse, the largest wallet in the Bitcoin Ecosystem, Satsdaqs could grow to be one of the go-to apps that the community is waiting for.

2- Syntetika

Introduction: Syntetika is a Bitcoin Yield Layer that bridges TradFi and DeFi to offer institutional-grade, structured products by capturing combined on/off-chain yield. It operates as a modular, compliant vault-based protocol connecting financial strategists with capital seeking yield. Focusing on Bitcoin, its main products are hBTC (1:1 custodied tokenized BTC) and shBTC (an ERC-4626 yield-bearing wrapper received when hBTC is staked).

Catalyst: Syntetika is an institutional-grade protocol focused on on/off-chain yield strategies for high-net-worth individuals.

Built in collaboration with Hilbert Group, and utilizing infrastructure from Copper and Xapo Bank, the protocol ensures institutional-level security and compliance.

With nearly $400 million in TVL, Syntetika demonstrates significant institutional adoption, positioning it as a potentially undervalued gem ahead of a possible future expansion into the retail market.

1- VECTOR

Introduction: VECTOR is the first mobile-native onchain trading platform on Solana, combining memecoin trading with social features and built by the team behind Tensor. With a mobile-first design, transparent position sharing, and community rewards, it aims to make trading faster and more social while leveraging Solana’s low fees.

Catalyst: Coinbase announced its acquisition of VECTOR on Nov 21, integrating VECTOR’s technology directly into Coinbase DEX and onboarding the full team. Asset migration and key export processes rolled out during the week, signaling the start of the transition. With Solana DEX volume surpassing $1T this year and a VanEck Solana ETF approaching, VECTOR’s integration is positioned to boost liquidity significantly heading into Q1 2026.

2- Monad

Introduction: Monad is an EVM-compatible L1 delivering parallel execution, high throughput (10,000 TPS), and sub-second finality, offering Solana-level performance while maintaining Ethereum compatibility. Backed by $244M raised, it targets high-performance DeFi and gaming applications.

Catalyst: This week marked MON’s expansion to Solana via Sunrise, enabling seamless cross-chain trading and transfers. Additional integrations rolled out rapidly, including MetaMask support, Telegram Wallet vault features, and Polymarket’s MON/USDC market. The Blockchain Payments Consortium with Solana Foundation continued gaining momentum, aiming to standardize cross-chain payments. Key watchpoints include the airdrop escrow release and upcoming mainnet rewards, both potential drivers for MON’s next growth phase as Solana TVL climbs.

1- Lorenzo Protocol

Introduction: Lorenzo Protocol is a DeFi platform specializing in institutional-grade on-chain asset management, particularly as Bitcoin's liquidity layer. It enables users to tokenize yield-generating strategies, such as liquid staking of Bitcoin and structured products like USD1+.

Catalyst: Lorenzo is backed by YZi Labs, and its native token, $BANK, was recently listed on Binance.

This, along with an exclusive partnership with World Liberty Fi for the stablecoin-based, triple-yield product USD1+ OTF, strongly suggests deep ties to key industry players. With a high Total Value Locked exceeding $500M, the platform's utility is significant, making the current low value of the $BANK token appear undervalued relative to the protocol's fundamental metrics.

2- Eurexa AI

Introduction: EureXa is a logistics platform that utilizes a fully autonomous robotic network, powered by AI and secured by blockchain, to provide intelligent and secure transport solutions. It implements the Robotics Sovereign Token (RST) protocol on the BNB Chain to connect developers, investors, and enterprises.

Catalyst: EureXa aims to solve the common challenges of funding, resources, and trust faced by early-stage robotics projects by providing digital token financing and essential support. Its core offering is EureXaPad, an all-in-one platform for rapid robot training and deployment where models are tokenized and valued based on their performance.

Currently, robotics solutions built on blockchain technology are rare, and the Robotics narrative lacks significant traction within the wider crypto community, despite interest from traditional finance. This scarcity suggests that robotics is a narrative users can potentially front run, anticipating that the hype will soon reach the blockchain industry.

1- Firestarter

Introduction: Firestarter is emerging as a foundational tool for Base’s growing creator economy. Its no-code launchpad lets anyone spin up utility tokens, NFTs, or membership passes within seconds-lowering barriers for experimentation while keeping the experience polished through its integration with Analog for smooth cross-chain interactions.

Catalyst: This past week, Firestarter drew notable attention as creators began testing live launches, from gated content drops to rapid membership experiments. The traction signals a shift toward more structured creator monetization on Base. With the ecosystem leaning heavily into post-Devcon builder momentum, Firestarter is positioning itself as a key gateway for converting creative ideas into onchain projects at scale.

2- Paragraph

Introduction: Paragraph continues to cement its role as one of Base’s anchor platforms for social tokenization. By transforming posts and series into “writer coins,” the platform gives creators a direct path to onchain monetization, community-backed engagement, and ownership-all aligned with the broader trend turning content into tradeable digital assets.

Catalyst: The official rollout of writer coins this week landed at the perfect moment, coinciding with the close of Base Batches 002 and a heightened wave of activity around Devcon follow-ups. Early creator onboarding has been strong, and its connections across the Farcaster and Zora ecosystems strengthen the narrative of Base becoming a SocialFi hub. With content-token infrastructure expanding, Paragraph is well-positioned to benefit from the next cycle of creator-driven onchain activity.

1- Kinetiq

Introduction: Kinetiq is a leading liquid staking protocol on Hyperliquid, enabling users to stake HYPE for kHYPE - a liquid derivative that maintains staking rewards while remaining composable across DeFi applications like lending and trading.

Catalyst: With over $1B in TVL, it powers ecosystem liquidity through a DAO-governed validator registry where performance drives rewards, and it has distributed 10.4M kPoints over 13 weeks to incentivize staking and activity. Governed by the KNTQ token, Kinetiq emphasizes compounded yields without rebasing, making it a cornerstone for Hyperliquid's LST infrastructure. 

2- Harmonix

Introduction: Harmonix is Hyperliquid's premier yield optimization protocol, functioning as an on-chain hedge fund that deploys delta-neutral and derivatives-based strategies to generate sustainable, low-risk yields on assets.

Catalyst: The public token sale on Sonar by Echo.xyz, launching December 1, 2025 (registration open until December 3), marks the first such event for a Hyperliquid-native project, offering protocol ownership at a $25M FDV with 100% unlock at TGE and 50% community airdrop - expected to attract early inflows ahead of mid-December launch.