- Popular CEX Cryptocurrencies
CEX Trading Volume Top 10 and 24-Hour Price Change:
- BTC: -4.43%
- ETH: -8.58%
- BNB: -5.48%
- KITE: -8.98%
- SOL: -6.28%
- DOGE: -2.70%
- ZEN: +3.72%
- ZEC: +1.97%
- ASTER: +7.69%
- DASH: +2.30%
24-Hour Price Increase Ranking (Data Source: OKX):
- MMT: +252.88%
- ZK: +20.15%
- HMSTR: +15.95%
- ASTER: +9.02%
- SAHARA: +7.68%
- RESOLV: +6.43%
- ZRX: +4.75%
- FLM: +4.57%
- SD: +4.03%
- S: +3.47%
24-Hour Cryptocurrency Stock Price Increase Ranking (Data Source: msx.com):
- Direxion Daily Semiconductor Bear 3X Shares - MSX (SOXS.M): 15.29%
- ProShares UltraShort Ether ETF - MSX (ETHD.M): 14.71%
- GraniteShares ETF Trust GraniteShares 2x Short COIN Daily ETF - MSX (CONI.M): 12.96%
- T-Rex 2X Inverse MSTR Daily Target ETF - MSX (MSTZ.M): 11.99%
- Investment Managers Series Trust II Tradr 2X Short TSLA Daily ETF - MSX (TSLQ.M): 11.87%
- T-Rex 2X Inverse NVIDIA Daily Target ETF - MSX (NVDQ.M): 11.23%
- ProShares UltraShort Bitcoin ETF - MSX (SBIT.M): 9.46%
- ProShares UltraPro Short QQQ - MSX (SQQQ.M): 7.39%
- Yum! Brands, Inc. - MSX (YUM.M): 7.33%
- Intchains Group Limited American Depositary Shares - MSX (ICG.M): 5.83%
- On-Chain Popular Meme Top 5 (Data Source: GMGN):
- ADAM
- CR7
- Opta
- jellyjelly
- TeslaAI
Headlines
U.S. Government Shutdown Stalemate Continues, 35-Day Record About to be Broken
The U.S. Senate failed again on the 4th local time to pass a temporary funding bill for the federal government. This means that the current federal government "shutdown," which began on October 1, is about to break the historical record of 35 days of "shutdown" from late 2018 to early 2019, becoming the longest government "shutdown" in U.S. history.
Berachain: All Funds Lost Due to Vulnerability Have Been Recovered, Blockchain is Now Operational
Berachain announced that approximately $12.8 million in funds lost due to the BEX/Balancer v2 vulnerability have been fully returned to the Berachain Foundation Deployer address, and the blockchain is now operating normally.
The official statement indicated that the minting and exchange functions of HONEY have been reopened, but BEX-related functions remain temporarily restricted, including exchange, recharge, and withdrawal operations. The core team is developing a system to return assets to the original addresses and distribute them proportionally to users for the affected liquidity pools containing a large number of independent depositors.
Berachain also reminded that deposits in BEX that were not attacked still cannot be withdrawn for security reasons, as the specific cause of the Balancer vulnerability has not yet been fully determined.
Opinion: The Core Reason for Market Decline is Liquidity Tightening and Hawkish Fed Statements
Analyst Cato_KT posted on the X platform that the core reason for the market decline early this morning is that the market is being "bled" during the liquidity tightening phase, with two specific points:
U.S. Treasury auctions leading to liquidity tightening. Today's auctions of 3-month and 6-month U.S. Treasury bills totaled $163 billion, causing a significant amount of funds to be drained from the financial markets, putting pressure on risk asset prices.
Fed Governor Goolsbee's hawkish remarks led to a drop in the probability of a rate cut in December from 69.8% to 67.5%, further undermining market confidence.
These two reasons, one being the fundamental cause and the other being the trigger, combined to suppress risk assets, especially the noticeable decline in Bitcoin. The solution is simple: on one hand, the government resumes operations, and on the other hand, the Fed slows down the release of repurchase amounts in overnight reverse repos to alleviate short-term liquidity tightness.
Industry News
BlackRock to Launch Bitcoin ETF in Australia
BlackRock will launch a Bitcoin exchange-traded fund (ETF) in Australia.
UBS Group Completes Instant Tokenized Fund Trading Using Chainlink DTA Standard
UBS Group announced that it has completed end-to-end instant tokenized fund trading in a production environment using the Chainlink Digital Transfer Agent (DTA) technology standard. The transaction was executed by UBS Tokenize in collaboration with DigiFT, involving the first on-chain subscription and redemption of the UBS Dollar Money Market Investment Fund token uMINT.
It is reported that the process covers all aspects of the fund lifecycle, including order receipt, execution, settlement, and data synchronization between on-chain and off-chain systems. DigiFT, as the on-chain fund distributor, completed the automated settlement of uMINT shares based on the Chainlink DTA standard.
UBS Chief Operating and Technology Officer Mike Dargan stated that this transaction demonstrates the potential of smart contracts and standardized technology in enhancing fund operational efficiency and investor experience. Chainlink co-founder Sergey Nazarov stated that this achievement sets a new industry benchmark for institutional-grade tokenized finance. DigiFT founder Henry Zhang added that using the Chainlink DTA standard enables real-time subscription and redemption operations directly integrated with institutional custody systems.
XWIN: Changes in CEX and Miner Reserves Indicate Funds are Accelerating Out of the Market
According to research firm XWIN, Bitcoin CEX reserves have risen for the first time in six weeks, indicating that some investors are transferring Bitcoin back to exchanges, which is typically seen as a signal for profit-taking or risk aversion. Historical data shows that this trend often precedes increased market volatility, with traders adopting defensive strategies.
Meanwhile, miner reserves have dropped to their lowest level since mid-2025. XWIN pointed out that due to the suspension of energy subsidies and tax credits during the government shutdown, some miners have had to sell Bitcoin to maintain operations.
Additionally, the withdrawal volume of stablecoins from CEX has risen to a historical high, reflecting that funds are flowing into dollar-pegged safe-haven assets. XWIN stated that the increase in CEX reserves, miner selling pressure, and outflow of stablecoins collectively reveal a pattern of market liquidity contraction and declining risk appetite. Currently, the "Fear and Greed Index" has fallen into the "Extreme Fear" range, approaching levels seen during the 2023 banking liquidity crisis.
Privacy Coin Ecosystem Rises, ZEC Hits All-Time High
Market information shows that the privacy coin ecosystem is rising, including:
- DASH currently at $138.32, 24H increase of 66%;
- ZEN currently at $23.77, 24H increase of 49%;
- PIVX currently at $0.3369, 24H increase of 38%;
- ZEC currently at $469, 24H increase of 21%;
- SCRT currently at $0.2144, 24H increase of 32%.
Chinese Meme Coins on BSC Plummet, Hakimi Drops Over 40%
Market data shows that Chinese meme coins on BSC have plummeted, including:
- Binance Life 24-hour drop of 43.54%, market cap currently at $113 million;
- Hakimi 24-hour drop of 41.38%, market cap currently at $12 million;
- Customer Service Xiao He 24-hour drop of 39.17%, market cap currently at $4.5 million;
- Cultivation 24-hour drop of 52.42%, market cap currently at $3.5 million.
Project News
xUSD Decouples, Oracle Data on Euler Not Updated in Time, May Lead to Bad Debt
xUSD has decoupled, and the oracle price data on the crypto lending protocol Euler appears to have not been updated in time, which may have led to bad debt.
In the protocol, the price of xUSD is still $1.27, while it has actually decoupled to about $0.6, and borrowing assets is currently not allowed.
The utilization rate of the USDT0 vault has reached 100%, with APY soaring to 65%.
Stream Finance: Withdrawals and Deposits Suspended Due to $93 Million Asset Loss
Stream Finance announced on the X platform that the external fund manager responsible for overseeing the Stream fund disclosed an asset loss of approximately $93 million.
In response, Stream is hiring Keith Miller and Joseph Cutler from the law firm Perkins Coie LLP to conduct a comprehensive investigation into the incident and is withdrawing all liquid assets. All withdrawal and deposit operations will be temporarily suspended until the extent and cause of the losses can be fully assessed.
Prediction Market Opinion Now Accessible Without Invitation Code
The prediction market Opinion announced on the X platform that the platform is now accessible to all users without an invitation code.
Previously, Opinion announced the completion of a $5 million seed round of financing, led by YZi Labs.
ZKsync founder Alex (@thealexgluchowski) released the "ZK Token Proposal Part I," proposing significant updates to the ZK token economic model, with the core mechanism being that all revenue generated by the network will be used for buybacks and burns of ZK tokens.
Alex stated that in the future, ZK tokens will no longer be limited to governance purposes but will have actual value capture functionality. The sources of network value include:
All this revenue will flow into a governance-controlled mechanism for ZK buybacks and burns, staking rewards, and ecosystem development funds. Alex emphasized that this move aims to directly link the value of ZK tokens to network usage, promoting the formation of a self-reinforcing sustainable economic system for ZKsync.
Stablecoin Public Chain Stable Launches Public Testnet
According to official news, the stablecoin public chain Stable has officially launched its public testnet. Currently, the testnet has opened multiple features for developers, including: public RPC endpoints for network interaction, a faucet to apply for test USDT, a block explorer for tracking contracts and on-chain activities, and a system module supporting native USDT transfers and fee settlements. Stable stated that this testnet will lay the foundation for future mainnet deployment and ecosystem application development.
UnifAI announced the token economics model for UAI: the total supply of UAI tokens is 1 billion, deployed on the BSC chain. The token distribution plan is as follows:
- Protocol development allocation: 20%
- Foundation and treasury allocation: 20.75%
- Marketing allocation: 18.57%
- Team and advisor allocation: 15%
- Ecosystem and community: 13.33%
- Liquidity allocation: 7%
- Investor allocation: 5.35%
The main functions of the UAI token include service access payment, governance voting, staking, and reputation systems, as well as profit sharing. The token will serve as the economic pillar of the UnifAI network, promoting collaboration, governance, and growth of autonomous AI agent networks.
Previously, it was reported that Binance Alpha and contracts would list UnifAI (UAI).
BlockSec Phalcon: MoonwellDeFi Exploited Due to Oracle Price Issues, Losses Exceed $1 Million
According to BlockSec Phalcon monitoring, its system detected a series of suspicious transactions targeting MoonwellDeFi's smart contracts on Base and Optimism. Analysis indicates that the issue lies with the price source of the rsETH/ETH tokens from the off-chain oracle, which was exploited, possibly by MEV bots, resulting in losses exceeding $1 million. The prices used by the protocol were incorrectly updated.
The Story ecosystem IPRWA protocol Aria announced its token economics, with a total supply of 1 billion ARIAIP tokens. The token functions include participating in governance, providing liquidity for the IP RWA ecosystem, and unlocking community rights for token holders. The token distribution and unlocking plan is as follows:
- Community growth: 21% (33% unlocked at TGE)
- Ecosystem and partners: 21% (33% unlocked at TGE)
- Liquidity: 9% (100% unlocked at TGE)
- Foundation: 10% (100% unlocked at TGE)
- Core team: 21%
- Early investors: 18%
Aria completed its community issuance on Buidlpad Vibe on November 4, with total sales exceeding $12 million, oversubscribed nearly 20 times. The settlement and refund process will be completed by November 6, 2025, at 14:00 (UTC). The Aria official stated that the tokens subscribed will be 100% unlocked at TGE and will be protected within 30 days of TGE.
Investment and Financing
Zynk Completes $5 Million Seed Round Financing, Coinbase Ventures Participates
The stablecoin cross-border payment infrastructure platform Zynk announced the completion of a $5 million seed round of financing, led by Hivemind Capital, with participation from Coinbase Ventures, Alliance DAO, Transpose Platform VC, Polymorphic, Tykhe Ventures, and Contribution Capital. This round of financing was completed in August this year in the form of a SAFE agreement.
Zynk stated that the new funds will be used to expand the coverage of global payment channels, enhance liquidity, technology, and compliance infrastructure, and establish partnerships with major payment service providers. The platform supports instant settlement between fiat currencies and stablecoins, providing seamless integration solutions for Web2 and Web3 payment businesses without the need to pre-fund in different markets or engage in complex liquidity management, thereby releasing idle capital and reducing settlement costs.
Zynk co-founder and CEO Prashanth Swaminathan stated that Zynk is building infrastructure to "make global payments flow like data," aiming to break the barriers of pre-financing dependency in cross-border payments. Its payment network currently supports instant cross-border settlements between USD, EUR, UAE Dirham, Indian Rupee, Mexican Peso, and Philippine Peso.
Regulatory Trends
U.S. prosecutors are seeking 5-year prison sentences for Samourai Wallet founders Keonne Rodriguez and William Lonergan Hill, citing their long-term operation of an unregistered crypto mixing service that facilitated the laundering of at least $237 million, including proceeds from drugs, the dark web, hacking, and illegal content. The two pleaded guilty in July and will be sentenced separately this week.
SBF's Defense Attorney Claims Media and Court Rushed Judgment Led to Wrong Conviction
FTX founder SBF (Sam Bankman-Fried)'s defense attorney plans to file a motion for reconsideration with the appellate court, claiming that media opinion, prosecutors, and U.S. District Judge Lewis Kaplan's rushed judgment led to his wrongful conviction. The defense is requesting a change of judge and a restart of the trial.
The legal team stated that SBF had no subjective intent to defraud customers, believing that user funds could be fully repaid, and accused Judge Kaplan of preventing him from presenting the key argument to the jury that "FTX had sufficient assets to repay users" during the trial. It is reported that in addition to the appeal, SBF's parents have also sought a pardon from President Trump.
U.S. Imposes Sanctions on North Korean Bankers Suspected of Money Laundering Stolen Cryptocurrency
On November 4, the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) announced a new round of sanctions against several bankers, financial institutions, and related entities, accusing them of participating in laundering and transferring cryptocurrency obtained through cybercrime for North Korea to fund its nuclear weapons program.
The U.S. Treasury stated that over the past three years, North Korea has stolen more than $3 billion in digital assets through malware and social engineering attacks, surpassing any other country's related actors. The sanctioned individuals include North Korean bankers Jang Kuk Chol and Ho Jong Son, who are accused of managing funds for the sanctioned First Credit Bank, including approximately $5.3 million in cryptocurrency.
The Treasury noted that North Korea relies on a network of bank representatives, shell companies, and financial institutions established in its own country and in places like Russia to launder, steal cryptocurrency, and evade sanctions. The U.S. has previously warned businesses to be cautious of North Korean IT workers masquerading as legitimate professionals infiltrating the financial system to engage in illegal activities.
U.S. House Introduces Resolution Calling for Ban on Officials Profiting from Cryptocurrency
According to the U.S. Congress website, California Congressman Ro Khanna introduced a resolution numbered H.Res.849 on October 31, calling for a ban on public officials profiting from cryptocurrency-related activities and promoting the establishment of regulatory mechanisms to prevent conflicts of interest and foreign influence.
The resolution has been submitted to the House Financial Services Committee, the Government Oversight and Reform Committee, the House Administration Committee, and the Judiciary Committee for review. The document points out the need for increased transparency and regulation of political figures' digital asset activities to ensure the fairness of policy-making and public trust.
Voices
He Yi: Giggle Token Will Enter Deflationary Mode in the Future
He Yi stated on X, "Give a peach to get a plum in return.
Giggle Academy has gone from being completely ignored to receiving continuous donations from community trading fees, and then to Binance deciding to donate long-term fees to support the Giggle token, culminating in today's donation burn, which means Giggle will enter a deflationary mode in the future.
This is a journey from one-way contributions from the community to a two-way commitment to charity. In the development of public chains, no one knows what the standard answer is; memes without business models and value support cannot go far, and VC coins with large financing may not necessarily have a broad vision. No one knows the standard answer.
The pessimists are correct, and the optimists succeed."
CZ: Giggle Academy Will Burn Half of the Giggle Fund Token Donations Received
CZ stated on the X platform that the Giggle Fund Token smart contract will directly donate BNB to the public donation address of Giggle Academy. The proposed trading fee donations will be made in the form of Giggle Fund Tokens. Giggle Academy will burn half of the tokens it receives and exchange the remaining portion for BNB.
Star: After the Bubble Bursts, Only Technology, Products, and User Trust Remain
Star, founder and CEO of OKX, stated on the X platform: "After the bubble bursts, only technology, products, and user trust remain. The future of Web3 is not in the noise but in grounded construction."
Arthur Hayes: "Stealth QE" May Restart, Potentially Igniting the Next Bitcoin Bull Market
Arthur Hayes published a new long article stating that the operations of the U.S. Treasury and the Federal Reserve are brewing a "Stealth QE," which could become the core catalyst for driving a new round of increases in Bitcoin and the crypto market.
Currently, U.S. government spending continues to expand, and political incentives determine that they are more inclined to issue debt rather than raise taxes. Foreign central banks, due to the risk of confiscation of dollar assets after the Russia-Ukraine war, are more inclined to buy gold rather than U.S. Treasury bonds. The U.S. personal savings rate is insufficient to support Treasury bond issuance, while the four major commercial banks have only absorbed a small portion of the new debt. "Relative Value (RV) hedge funds" have become marginal buyers of U.S. Treasuries, primarily purchasing them through repurchase agreements (repo) with leveraged financing.
The U.S. Treasury is expected to issue about $2 trillion in new debt each year to cover the deficit. When market liquidity tightens and SOFR (Secured Overnight Financing Rate) exceeds the federal funds upper limit, the Federal Reserve injects cash directly into the market through the Standing Repo Facility (SRF). This is equivalent to "de facto QE": printing money → lending → supporting the Treasury bond market.
As SRF usage increases, global dollar liquidity rises, and the actual effect is equivalent to QE. Hayes predicts that this will reignite the bull market cycle for Bitcoin and the crypto market. "Whenever the Federal Reserve expands its balance sheet, BTC goes up."
Currently, during the U.S. government shutdown and Treasury bond auction period, liquidity is tightening in the short term, putting pressure on the crypto market. Hayes advises investors to "preserve capital and wait for the right moment," stating that the market will see a strong rebound after the "Stealth QE" is initiated.
Matrixport: The Market May Further Decline, but This Does Not Indicate the End of BTC's Trend
Matrixport released a chart today stating that there are no absolutely effective trading rules when investing in Bitcoin, but many market participants focus on one indicator: the 21-week moving average.
As we have mentioned multiple times in our weekly "Matrix on Target" report, the 21-week moving average has repeatedly shown certain reference value in past cycles. Investors who pay attention to this indicator often find it easier to reassess their positions and risks during periods of increased volatility.
The current trend does not rule out the possibility of further declines, but it does not indicate that Bitcoin's trend has ended. It serves more as a reminder: rather than being completely led by short-term noise, it is better to refer to a few simple, time-tested reference points as a relatively stable benchmark for decision-making.
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