Gate Research Institute Daily Report: On October 29, the overall cryptocurrency market experienced a pullback, with mainstream coins generally under pressure. BTC fell by 0.29%, retreating from above $116,000 to around $112,000; ETH dropped by 0.11%, maintaining a high-level oscillation pattern. The funding shifted towards infrastructure and application innovation tracks, with Pi Network (+16.77%) seeing short-term inflows due to KYC expansion, APRO Token (+22.73%) driven by expectations of the "Oracle 3.0" update and new plans, and Puffer (+29.82%) becoming a focus of Ethereum scaling with the launch of UniFi AVS. t54.ai launched x402-secure, building a programmable trust and verification system for the agent ecosystem; Visa expanded its support for stablecoins, with quarterly cryptocurrency payment volume increasing fourfold year-on-year; Tether Gold's reserve market value surpassed $2.1 billion, with PAX Gold accounting for 90% of the tokenized gold market.
BTC (-0.29% | Current Price: 112,112 USDT): After a short-term surge, BTC faced pressure and retreated, with prices falling from above $116,000 to around $112,000, continuing the short-term downtrend. The current price is operating below the MA5 and MA10, with the MA moving averages in a bearish arrangement, indicating heavy selling pressure above. The MACD dual lines continue to decline and are below the zero axis, with green bars expanding, showing weak momentum. If the price breaks below the support at $111,500, it may further drop to the $109,600 area; conversely, if it stabilizes and breaks above $113,500, it may recover to $115,000.
ETH (-0.11% | Current Price: 3,968 USDT): ETH is also caught in a high-level adjustment pattern, with prices retreating from above $4,200 to around $3,960. The short-term moving averages MA5 and MA10 are bending downwards and forming a death cross, with MA30 turning into a resistance level after losing support. The MACD dual lines continue to decline, with green bars extending, maintaining weak momentum, indicating a lack of upward momentum in the funding. If it subsequently breaks below the support at $3,950, the focus will be on the $3,870 area; conversely, if it can return above $4,050 and break out with volume, short-term rebound potential may open up to $4,150.
Altcoins: The overall cryptocurrency market has entered a pullback phase, with the fear and greed index rising to 51, indicating that market sentiment has returned to neutral from overheating.
Macro: On October 28, the S&P 500 index rose by 0.23%, closing at 6,890.89 points; the Dow Jones index rose by 0.34%, closing at 47,706.37 points; the Nasdaq index rose by 0.80%, closing at 23,827.49 points. As of October 29, 10:15 AM (UTC+8), the spot price of gold is reported at $3,972 per ounce, with a 24-hour increase of 0.50%.
According to Gate's market data, the current price of the PI token is $0.26590, up approximately 16.77% in 24 hours. Pi Network is a decentralized cryptocurrency network project based on mobile devices, aimed at allowing ordinary users to participate in blockchain mining and ecosystem construction through their phones. The project employs a lightweight consensus mechanism to lower participation barriers, forming a decentralized community of tens of millions of users worldwide.
The recent strong rise of the PI token is mainly driven by the KYC system update. On October 29, the official announcement revealed that an additional 3.36 million users passed identity verification, and more "pending approval" accounts were opened for resubmission of live detection, significantly expanding the number of circulating users within the ecosystem. This news led to a rapid influx of short-term funds. Coupled with increased community activity and market sentiment, PI has become one of the standout hot tokens recently.
According to Gate's market data, the current price of the AT token is $0.4005, up 22.73% in 24 hours. APRO is a decentralized AI oracle protocol focused on providing reliable data feeds and verification services for scenarios such as RWA, AI, prediction markets, and DeFi. The project employs a multi-chain data verification mechanism, covering over 40 mainstream public chains, and achieves high-frequency data verification and intelligent invocation through the Oracle 3.0 architecture, becoming an important part of cross-chain data infrastructure.
The recent strong rise of the AT token is mainly driven by multiple positive factors. In the weekly report released by the official team this week, it was disclosed that the APRO platform's verified data volume exceeded 100,000 times, and AI invocation volume approached 95,000 times, indicating a continuous rise in ecological application demand. Additionally, the team announced plans to launch the "A PROmise of All PROmises" new initiative on October 29, which the market generally interprets as a significant signal for ecological upgrades. Coupled with expectations of the x402 payment protocol linkage, AT has become one of the hottest representative projects in the AI + Oracle sector recently.
According to Gate's market data, the PUFFER token is currently priced at $0.11701, up approximately 29.82% in 24 hours. Puffer is a modular infrastructure project built on the Ethereum ecosystem, with its core product UniFi AVS aimed at introducing real-time execution mechanisms for Ethereum Rollups, enhancing transaction confirmation speed and network efficiency. The project achieves a balance of immediacy and security through pre-confirmation technology, simulating and verifying transactions before packaging, thereby strengthening the stability and user experience of Layer 2 networks.
The recent strong rise of the PUFFER token is mainly driven by the launch of new products and narrative heat. The official team announced this week that UniFi AVS has officially launched, using "real-time execution" technology to address the delays and uncertainties of Rollups, attracting significant market attention. The innovation of this technology is seen as an important milestone in the Ethereum scaling ecosystem, and coupled with increased community activity and expectations of interaction with multiple ecological projects, PUFFER has become one of the standout infrastructure tokens recently.
The trusted agent protocol t54.ai launched a new component, x402-secure, adding a "programmable trust" and "verifiability" layer to the x402 protocol, marking a new stage of higher security and transparency for the agent payment system. The solution achieves pre-settlement protection through the native risk engine Trustline, identifying potential risks before payment initiation; its SDK can automatically capture agent reasoning and invocation traces, generating AP2 compatible evidence and embedding it into the payment process, thereby defending against logical attacks such as prompt injection and false subscriptions, enhancing the traceability and compliance of model execution. Meanwhile, the Validator Agent Network (VAN) monitors servers, APIs, and website content in real-time, conducting dynamic analysis and risk warnings based on social reputation and on-chain data.
The launch of x402-secure marks the entry of agent network governance into the "verifiable trust" era. Its pre-settlement protection and reasoning tracking mechanism form a risk closed loop from execution to payment, effectively reducing agent illusions and abnormal invocations; the VAN network establishes a data-driven trust scoring system for ecological participants through monitoring and reputation assessment, enhancing transparency and risk resistance. Overall, x402-secure deeply integrates security verification and behavior traceability, laying a systematic security foundation for agent collaboration and autonomous intelligent economy.
Global payment giant Visa announced it will support more stablecoin settlements and transfers, further strengthening its infrastructure layout in the cryptocurrency payment ecosystem. CEO Ryan McInerney stated during the fourth-quarter earnings call that the company is expanding support for four stablecoins, which operate on four different blockchains, covering two fiat currencies and can be converted into more than 25 traditional currencies globally. This move signifies that Visa is transforming from a traditional card organization to a multi-chain payment hub, building an on-chain and off-chain compatible fund settlement system. McInerney pointed out that in the fourth quarter, Visa card spending linked to stablecoins increased fourfold year-on-year, reflecting that mainstream financial users are rapidly adapting to digital currency payment scenarios.
Since 2020, Visa has facilitated over $140 billion in cryptocurrency and stablecoin flows, including more than $100 billion in user coin purchase transactions. Currently, Visa has launched over 130 stablecoin-linked card issuance programs in more than 40 countries and has begun allowing banks to mint and burn stablecoins independently, further deepening the integration of stablecoins with the traditional financial system. This move not only enhances the efficiency of cross-border payments and settlements but also signifies that Visa views stablecoins as a key component of future payment networks, providing infrastructure support for the "cryptofication" of the global financial system.
Stablecoin issuer Tether released its third-quarter verification report for its gold token Tether Gold (XAUT), confirming that each token is fully backed by physical gold bars in Switzerland. As of September 30, Tether held gold reserves of 375,572 troy ounces, valued at approximately $1.44 billion based on the quarter-end price. Currently, there are 522,089 XAUT tokens in circulation, with an additional 139,751 tokens for sale, indicating that additional reserves are prepared but not yet distributed. The report emphasizes that XAUT maintains a high level of transparency in the combination of stablecoins and physical assets, becoming a key benchmark for precious metal tokenization.
Since the report's release, driven by rising gold prices, the full reserve market value of XAUT has risen to $2.1 billion, more than doubling from $850 million in August. Together with PAX Gold, the two account for about 90% of the $3.7 billion tokenized gold market. This not only reflects an increased trust from investors in on-chain physical assets but also shows that traditional safe-haven assets are accelerating their migration to blockchain. The strong growth of Tether Gold in the stablecoin and RWA sector marks on-chain gold as a new value anchor connecting the cryptocurrency and traditional markets.
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Original: “Visa Expands Stablecoin Support Network | Tether Gold Reserve Value Surpasses $2.1 Billion”
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