Gate Research Institute: Future interest rate cut expectations are hindered, risk assets are adjusting, Bitcoin has dipped to a low of $105,312, with a daily decline exceeding 2.5%; Ethereum's overall structure is also in a correction phase, with prices and market sentiment leaning bearish; the privacy coin sector has risen by about 15%, with Decred leading the charge, up 68.28% in 24 hours; the Unite governance proposal alleviates short-term selling pressure and strengthens long-term growth orientation, with UNITE rising 146.18% in 24 hours; FTSE Russell announced a partnership with Chainlink to bring index and market data on-chain; Donut Labs completed a $15 million seed round financing, promoting the implementation of crypto trading terminals.
BTC (-2.49% | Current price $107,003 USDT): Bitcoin leads the crypto market decline, dipping to a low of $105,312, with a daily drop exceeding 2.5%. The main reason for Bitcoin's price drop may be the market's cautious expectations regarding future interest rate cuts, leading to suppressed demand for risk assets. Despite some bullish signals, such as BTC flowing out of centralized exchanges, overall market sentiment remains conservative, failing to effectively support price increases. CryptoQuant data shows that the current average wallet cost is $55,900, indicating that most holders are still in profit, but the pressure to take profits is gradually accumulating. Although capital inflows remain strong, the demand side has not effectively absorbed selling pressure, which usually indicates that market sentiment is shifting from greed to caution, or even localized panic. Currently, Bitcoin's chip structure is tightening, approaching the support line since the crash on October 10. If it falls below $107,000, it may drop to $100,000.
ETH (-4.36% | Current price $3,625 USDT): Compared to Bitcoin, Ethereum seems to be entering a more fragile phase, with volatility still low, but downward pressure gradually accumulating. Ethereum has failed to regain the 100-day moving average and is currently hovering above the 200-day moving average (around $3,300). The 4-hour and daily charts show that Ethereum is experiencing a significant drop, with prices breaking below the lower Bollinger Band and continuing to decline, while the MA5, 30, and 100-day moving averages are in a bearish arrangement. Ethereum's price has repeatedly battled around the $3,600 mark, indicating that this level is widely watched by traders. If it breaks below this level, it may trigger programmatic selling or stop-loss orders, exacerbating the short-term decline, with the $3,500-$3,300 area being the next key support level.
Altcoins: Compared to the corrections of Bitcoin and Ethereum, mainstream altcoins have seen more significant declines. In the past 24 hours, XRP fell by 5.12%, and SOL dropped by 8.97%. Meanwhile, the altcoin season index has dropped to 25, further declining from last week, indicating that overall market sentiment for altcoins remains weak.
Macro: On November 3, the S&P 500 index rose by 0.17%, closing at 6,851.97 points; the Dow Jones index fell by 0.48%, closing at 47,336.68 points; the Nasdaq index rose by 0.46%, closing at 23,834.72 points. As of November 4, 11:00 AM (UTC+8), the spot price of gold is reported at $3,984 per ounce, down 0.42% in 24 hours.
According to Gate market data, the current price of DCR tokens is $30.79, up 68.28% in 24 hours. Decred is a blockchain project that emphasizes community governance and decentralized decision-making, aiming to create a fairer and more sustainable cryptocurrency ecosystem. Its hybrid consensus mechanism combines Bitcoin-style proof of work (PoW) with a proof of stake (PoS) voting system, allowing holders to directly participate in network governance and protocol upgrades. Additionally, Decred has built-in privacy features and a treasury system, supporting community-driven long-term development.
On November 1, the privacy coin sector rose by about 15%, with Decred leading the way. Market sentiment was mainly influenced by discussions on the EU's proposed ban on privacy coins to be implemented in 2027, coupled with concerns about the privacy risks of central bank digital currencies (CBDCs), prompting investors to refocus on projects with privacy and anti-regulatory characteristics. Decred, due to its decentralized governance and optional privacy mechanisms, is seen as a potential hedge against excessive regulation. This round of increases reflects a resurgence in market demand for financial anonymity, but if future regulations tighten or mainstream exchanges delist privacy coins, it may still limit the medium to long-term upside potential.
According to Gate market data, the current price of UNITE tokens is $0.0006743, up 146.18% in 24 hours. Unite is a Web3 protocol focused on decentralized governance and community collaboration, aiming to provide more efficient collaboration and incentive mechanisms for project parties, developers, and users. Through the governance token Unite, holders can participate in project proposals, voting decisions, and ecological incentive distribution, achieving a more transparent, community-driven project development model.
On November 3, Unite proposed a governance proposal to delay the token unlock time for the team, investors, and advisors by 8 months. This proposal covers approximately 44.9% of the total supply of tokens and aims to alleviate short-term selling pressure and strengthen long-term growth orientation. Currently, only 10% of the community allocation (accounting for 30% of the total) is unlocked, significantly reducing short-term supply pressure. The market views this move as a reflection of the team's and investors' confidence in the project's prospects, driving the token price upward. If the Snapshot voting results on November 5 pass, the implementation of this proposal may further consolidate positive market sentiment.
According to Gate market data, the current price of BTRST tokens is $0.2026, up 78.96% in 24 hours. Braintrust is a decentralized talent network platform aimed at connecting freelancers with corporate clients through blockchain technology. Unlike traditional intermediaries, Braintrust is governed by the community, and users participate in platform decision-making and share in the ecological growth profits through the BTRST token. Its model helps companies acquire quality talent at lower costs while allowing freelancers to earn higher income and greater autonomy.
On October 28, a widely circulated post on social media claimed that Braintrust might have a partnership with the Web3/AI crypto startup Zama. Zama has received $150 million in funding from institutions such as Pantera and Multicoin, and the news quickly sparked market associations with the "AI + Web3" narrative. Although neither party has officially confirmed the partnership, speculative buying from investors has driven a short-term increase in BTRST. Overall, this round of market activity is mainly driven by market sentiment, and the fundamental support still needs to be validated.
FTSE Russell announced a partnership with leading Web3 oracle provider Chainlink to bring major global indices and market data, including Russell 1000, Russell 2000, and Russell 3000, on-chain. These indices from FTSE Russell are used globally as benchmark targets, with a total asset management scale of approximately $18 trillion. FTSE Russell will use Chainlink's institutional-grade data publishing service, DataLink, for data distribution, making its benchmark data available 24/7 across multiple blockchains.
Through Chainlink's DataLink, index data will be published in an "institutional-grade, verifiable, and always available" format across multiple blockchains, allowing DeFi applications, on-chain products, and traditional finance-blockchain integrated products to access the same high-quality benchmark data. Additionally, this initiative reflects the transition of traditional financial benchmark data to an "on-chain available" state. For developers and institutions, this means that the tokenized assets, exchange-traded funds (ETFs), structured products, etc., they create in the future can more directly use these authoritative indices as underlying references, providing the same high-quality data as traditional finance.
Balancer V2's smart contracts have an access control flaw, which attackers exploited to siphon funds across multiple chains (including Ethereum, Arbitrum, Base, etc.). According to on-chain data, the cumulative loss is estimated at around $128 million. This incident not only affected the original protocol but also impacted several forked projects based on the same codebase. Due to the Balancer hack involving the Sonic ecosystem project Beets, the team has deployed a security mechanism that is planned to be implemented in the upcoming network upgrade. Additionally, two wallets related to the hacker (0xf19f, 0x0453) have been frozen, pending further investigation.
Balancer is a decentralized trading and asset management protocol based on Ethereum, allowing the creation of multi-asset, differently weighted liquidity pools, enabling liquidity providers (LPs) to passively manage assets like holding index funds while earning trading fees. Preliminary analysis indicates that the fundamental reason for the attack on Balancer was the attacker's manipulation of the invariant calculation of BPT prices, distorting the BPT price calculation and allowing the attacker to profit from a single batch trade from specific stablecoin pools. The incident caused the price of Balancer's token BAL to drop over 5%, raising significant concerns about the security of the DeFi ecosystem. Overall, this attack exposed the chain vulnerabilities of DeFi protocols in code sharing and forked ecosystems—where even if the original protocol may be compromised, forked projects may also suffer due to shared infrastructure.
Donut Labs announced the completion of a $15 million seed round financing, with participation from BITKRAFT, Makers Fund, Sky9 Capital, Altos Ventures, and Hack VC, bringing the company's total financing to $22 million. Donut Labs is a startup focused on combining artificial intelligence with blockchain trading, currently developing the Donut Browser, an AI-driven "agent" browser that can automatically execute cryptocurrency trades, risk analysis, and on-chain strategy execution.
The main purpose of this round of financing is to accelerate product development, expand the capabilities of AI models and browser agents, and enhance user experience and market promotion. The Donut Browser will integrate wallet, DEX access, on-chain strategy execution, and trading automation features, aiming to transform the browser into an AI quantitative trading assistant. This financing may drive the evolution of the crypto user interface from traditional wallet/exchange models to "smart browser as trading terminal," potentially lowering the barriers for ordinary users to participate in DeFi/on-chain trading, thereby accelerating the expansion of on-chain trading scale and user structure.
Related: Tokenized government bonds surpass $8.6 billion, banks and exchanges promote their use as collateral.
Original text: “FTSE Russell partners with Chainlink to bring data on-chain | Donut Labs completes $15 million financing”
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