# Top Tokens of November *Author: Bankless* *Published: Nov 13, 2025* *Source: https://www.bankless.com/read/november-25-top-tokens-crypto* --- [![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2025/11/image---2025-11-13T130434.464.png)](https://www.bankless.com/sponsor/frax-1737128738?ref=read/november-2025-trending-crypto-tokens&email=true) Top Tokens of November Published on Nov. 13, 2025 [ View in Browser ](https://bankless.com/read/briefs) --- [**Sponsor: Frax**](https://www.bankless.com/sponsor/frax-1737128738?ref=read/november-2025-trending-crypto-tokens&email=true) — Fraxtal Ecosystem: Where DeFi Meets AI. [Learn More](https://www.bankless.com/sponsor/frax-1737128738?ref=read/november-2025-trending-crypto-tokens&email=true) .  .  . NEED TO KNOW Grayscale IPO + Strategy Dips [![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2025/11/Group-20--6-.png)](https://www.bankless.com/topic/news)- 🧮 [**MicroStrategy Trades Below NAV for First Time Since January**](https://www.bankless.com/read/news/mstr-breaks-premium-streak-trading-below-nav-for-first-time-since-january-2024)**.** Michael Saylor’s digital asset treasury slipped to a 2.6% discount as its $62.6B market cap fell below its $64.3B in bitcoin holdings, coinciding with BTC dipping under $100k. - 💰 [**Czech National Bank Buys Bitcoin in Historic First**](https://www.bankless.com/read/news/czech-national-bank-buys-bitcoin-in-historic-first)**.** The CNB deployed $1M into BTC, stablecoins, and tokenized dollar deposits for a “test portfolio" and launched CNB Lab to study blockchain custody, settlement, and tokenized finance. - 🏛️ [**Grayscale Files to List on the New York Stock Exchange**](https://www.bankless.com/read/news/grayscale-files-for-public-listing-on-new-york-stock-exchange)**.** The $35B asset manager filed to list “Class A” shares under ticker GRAY, keeping DCG in control via dual-share structure and using an Up-C setup for tax efficiency. 📸**Daily Market Snapshot: **BTC continued its descent today, breaking down to $98K as other majors like ETH and SOL plunged, too. Few alts in the top 100 remain green on the week, excluding projects like UNI, ZEC, and WLFI. Prices as of 5pm ET 24hr 7d ![](https://banklesspublic.b-cdn.net/cmc.png) **Crypto** $3.4T ↘ 2.8% ↘ 2.79% ![](https://banklesspublic.b-cdn.net/btc.png) **BTC** $98,617 ↘ 2.6% ↘ 3.1% ![](https://banklesspublic.b-cdn.net/eth.png) **ETH** $3,193 ↘ 6.3% ↘ 4.0% .  .  . CHEAT SHEET Arbitrum's New DRIP *Once a week, Citizens get access to the top Market Plays, Hot Reads, Farming Opps, and Airdrop Hunts that our analyst team is tracking! Don't miss out!* 👇 [Become a Citizen](https://www.bankless.com/join) .  .  . PLAY OF THE WEEK The Top Tokens of the Month: November 2025 Bankless Analysts: [ Jack Inabinet](https://www.bankless.com/author/jack) and [ David Christopher](https://www.bankless.com/author/david) [![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2025/11/image---2025-11-13T133702.484-1.png)](https://www.bankless.com/read/november-2025-trending-crypto-tokens)Crypto markets thrive on chaos, and October proved no exception! The dust from the [10/10 liquidations](https://www.bankless.com/read/why-did-crypto-sentiment-get-so-bearish) has barely settled, but crypto markets are already moving on, spinning up new narratives and new opportunities to ape. Whether you’re hunting the next moonshot or dodging the next rug, these five tokens stealing the spotlight will no doubt be worth paying attention during the month ahead. Today, we’re diving into November’s most encaptivating altcoin stories. 👇 *Pro tip: view bull/bear analyst ratings for these tokens in the *[*Bankless Token Hub*](https://www.bankless.com/tools/token-hub)*!* ## **🦄 Uniswap** [**Website**](https://app.uniswap.org/)** | **[**Twitter**](https://x.com/Uniswap) **30-Day Change:** +20% **Ticker:** UNI ### **About:** Uniswap is one of the few DeFi protocols to see its token price increase over the past 30 days. The UNI token broke free from sector-wide weakness beginning November 4; it would more than double in price during the course of a six-day rally preceding this analysis, which culminated on November 10th with founder Hayden Adams [unveiling](https://x.com/haydenzadams/status/1987990314997739625?s=20) a governance proposal to turn on protocol fees and align incentives across the Uniswap ecosystem. Although the Uniswap ecosystem has frequently contemplated the creation of UNI value drivers through governance, no such proposals have passed. Most recently, the Uniswap Foundation’s February 2024 proposal to enable fees was unexpectedly [canceled](https://x.com/UniswapFND/status/1796590521072119927) after undisclosed complaints were raised by an unknown “stakeholder.” ### **Token Catalysts:** - **Big Burn: **Hayden Adams’ proposal would use Uniswap protocol fees to burn UNI**. **It would also burn Unichain sequencer fees and symbolically delete 100M UNI from the Uniswap Foundation treasury to represent the protocol fees that could have been burned if fees were turned on at token launch. This substantial reduction in token supply should theoretically have a positive impact on UNI prices. - **Enhanced Functionality: **Adams also seeks to improve the Uniswap protocol. His proposal calls for the creation of “Protocol Fee Discount Auctions,” which could internalize MEV to improve LP performance, and the launch of aggregator hooks, which would turn Uniswap V4 into a DEX aggregator. - **Questionable Economics: **If adopted in its entirety, Adams’ proposal will merge the independent Uniswap Foundation into Uniswap Labs. The joint venture will receive an annual 20M UNI stipend, a hefty $160M+ expense that critics [contend](https://x.com/TheOneandOmsy/status/1988451264141606985?s=20) is unlikely to be offset by protocol fees. [Unlock the Full Article on Bankless](https://www.bankless.com/read/november-2025-trending-crypto-tokens) --- --- *This article is brought to you by [MetaMask](https://www.bankless.com/sponsor/metamask-1776260643?ref=read/november-25-top-tokens-crypto)*