Gate Research Institute Daily Report: On November 12, the overall cryptocurrency market maintained a weak and volatile pattern, with market sentiment remaining low. BTC slightly rebounded by 0.36% to 103,261 USDT; ETH also rose by 0.87% to 3,448 USDT, with technical indicators showing a weakening of downward momentum. In terms of popular tokens, Lisk (+52.65%) surged strongly driven by the EMpower fund and expansion into emerging markets; Allora (+10.54%) gained traction due to its mainnet launch and multi-chain deployment, sparking interest in AI+Web3; Canton Network (+11.81%) became the focus of enterprise blockchain tracks with its new economic model and developer incentives. Gate Connect officially launched the Apple Pay sell feature, leading the way for Web3 payment scenarios. Whales increased their holdings by 36,000 BTC within two weeks, supporting Bitcoin's stability around the 100,000 USDT mark.
BTC (+0.36% | Current price 103,261 USDT): BTC continued its downward trend on November 11, falling from a high of 106,000 USDT to below 102,000 USDT, showing clear short-term pressure. Currently, the price is supported in the 102,000–103,000 USDT range and has seen a slight rebound. MA5 and MA10 are still below MA30, indicating an overall bearish structure, but the short-term downward trend is slowing. The MACD green bars are gradually converging, with the fast line starting to approach the slow line, reflecting a weakening of bearish momentum and signs of capital inflow. If BTC can break through the resistance level of 104,600 USDT, it is expected to continue its recovery towards 106,000 USDT; if it falls below 102,000 USDT, it may test the support area of 99,200 USDT again.
ETH (+0.87% | Current price 3,448 USDT): ETH also continued its retreat from a high, dropping from around 3,650 USDT to the 3,400 USDT area. After finding support at 3,400 USDT, it stabilized and rebounded. MA5 and MA10 show signs of turning, but they are still operating below MA30. The MACD green bars have significantly converged, with the fast line and slow line tending to merge, indicating a weakening of downward momentum. If ETH breaks through 3,520 USDT, it may rise towards 3,650 USDT; if it falls below the 3,400 USDT support again, it may retest the low of 3,320 USDT.
Altcoins: The overall market continued to adjust, with the fear and greed index dropping to 24, remaining in the "extreme fear" range for several days, and investor sentiment continuing to be low. Mainstream coins faced pressure, with SOL dropping by 7.6%, and XRP and ADA also weakening. Risk-averse sentiment increased, with short-term selling pressure being concentrated, leading to tightening market liquidity, reflecting a phase of adjustment dominated by fear.
Macro: On November 11, the S&P 500 index rose by 0.21%, closing at 6,846.61 points; the Dow Jones index rose by 0.18%, closing at 47,927.96 points; the Nasdaq index fell by 0.25%, closing at 23,468.30 points. As of November 12, 10:15 AM (UTC+8), the spot price of gold was reported at 4,127 US dollars per ounce, with a 24-hour increase of 0.01%.
According to Gate market data, the current price of LSK token is 0.3363 US dollars, up approximately 52.65% in 24 hours. Lisk (LSK) is an open platform focused on Web3 application development and blockchain scalability, dedicated to helping developers build decentralized applications (dApps) using JavaScript and achieve lightweight deployment of multi-chain architecture through the Lisk SDK. Its core goal is to lower the entry barrier for Web3, support cross-chain communication, and provide a user-friendly experience.
Recently, Lisk has accelerated its ecological expansion through the Lisk EMpower Fund and the Lisk Emerging Markets Founders Residency program, focusing on supporting the growth and implementation of projects in emerging markets. Among them, the stablecoin project IDRX has become an EMpower Spotlight, showcasing Lisk's layout in regional payments and practical asset fields with its regulated, 1:1 on-chain anchoring feature.
According to Gate market data, the current price of ALLO token is 0.4423 US dollars, up 10.54% in 24 hours. Allora is a decentralized intelligent network aimed at building a Collective Intelligence Layer driven by AI models, data providers, and validators. The project provides a trusted infrastructure for AI and human collaboration by putting intelligent assets (Intelligence-backed Assets) on-chain. Allora's core mechanisms include decentralized training, prediction market-style incentives, and a model validation network, forming a self-optimizing AI collaborative ecosystem.
The recent 24-hour increase in ALLO token is mainly driven by the following positive factors: first, the official launch of the mainnet marks the birth of the first intelligence-backed asset, significantly warming market sentiment; second, the completion of multi-chain deployment, with ALLO now integrated with mainstream chains such as Ethereum, Base, and BSC through the LayerZero OFT standard, enhancing asset liquidity. Overall, this round of increase reflects the market's continued attention to the AI+Web3 narrative and the concentrated release of ecological expectations following Allora's mainnet launch.
According to Gate market data, the current price of CC token is 0.12642 US dollars, up approximately 11.81% in 24 hours. Canton Network is a network focused on enterprise-level blockchain interoperability and privacy protection, dedicated to providing high-security, high-compliance Web3 infrastructure for financial institutions, enterprises, and developers. The project uses the Daml smart contract language as its core framework, supporting multi-party ledger collaboration and privacy data sharing, aiming to become a "trusted bridge" connecting traditional finance and decentralized ecosystems.
The recent 24-hour increase in CC token is mainly driven by the following positive factors: first, the innovation of the economic model has attracted market attention, and Cantonics' fair incentive mechanism has strengthened long-term value expectations; second, the expansion of the developer ecosystem, with the Builder program attracting more project parties to settle in and build practical applications; third, the rise in social media popularity, with the official frequently releasing tutorials and interactive content, boosting community participation enthusiasm. Overall, this round of CC increase reflects the market's high recognition of Canton’s new enterprise chain model centered on "privacy + compliance + developer-driven."
The decentralized energy network Daylight announced a strategic partnership with Plasma, with both parties aiming to promote the financialization of energy assets through on-chain infrastructure. According to the agreement, Daylight will issue income-generating assets GRID on Plasma for financing and expansion of distributed energy network construction. This asset will be issued by M0, adopting a fully collateralized mechanism and supporting instant redemption features to ensure fund safety and liquidity. This cooperation marks a deep integration of decentralized finance (DeFi) and energy infrastructure, introducing a more transparent and efficient capital support path for green energy projects.
At the same time, GRID holders can further mint sGRID to participate in Daylight's distributed energy revenue distribution, forming an on-chain closed-loop economic model of "financing—power generation—revenue." This move not only lowers the entry barrier for traditional energy investments but also provides new financing channels for renewable energy. Plasma, as a high-performance public chain, will provide Daylight with high throughput and low-cost transaction support, enhancing asset liquidity and market scalability. Industry insiders generally believe that this cooperation is expected to become an important demonstration case in the "green finance + Web3" field, accelerating the tokenization of energy assets and the maturity of the decentralized energy economy.
According to the official announcement, the globally leading cryptocurrency asset platform Gate has announced that its self-operated deposit and withdrawal channel Gate Connect has officially launched the Apple Pay sell feature, becoming the first Web3 exchange to support this feature. Users can directly sell cryptocurrency assets within the Gate App through Apple Pay and instantly withdraw to their linked Visa or Mastercard debit or credit cards, achieving seamless fiat currency collection. With the native encryption system of Apple Pay and Gate's quadruple security verification mechanism, the entire transaction process achieves dual guarantees in security and convenience, significantly enhancing user experience.
Currently, Gate Connect fully supports various payment methods including Apple Pay, Google Pay, bank card payments, SEPA, and PIX, continuously expanding its global payment network. The launch of this feature not only reflects Gate's technological leadership in the cryptocurrency payment ecosystem but also signifies another important implementation of its "All in Web3" strategy. By bridging on-chain assets with real-world payment systems, Gate is accelerating the democratization and everyday use of cryptocurrency finance, providing users with more flexible, secure, and efficient asset circulation pathways.
According to CryptoQuant data, from October 24 to November 7, the holdings of Bitcoin whales doubled within just two weeks, accumulating over 36,000 BTC. This concentrated buying occurred during a brief market correction, showing that large investors actively accumulated at low levels, providing solid support for the price. The continuous inflow of whale capital has strengthened market confidence, keeping BTC in a strong volatile pattern around the 100,000 USDT mark, with no significant selling pressure observed.
On-chain data shows that this round of accumulation is mainly concentrated among long-term holders and institutional-level wallet addresses, indicating that the market's recognition of Bitcoin's long-term value remains high. Analysts point out that if this trend continues, the supply side of BTC will further tighten, pushing the price into a new upward cycle. At the same time, as market concerns about macro risks diminish and ETF inflows stabilize, the accumulation behavior of whales may become a key catalyst for the next stage of the market.
Related: Bitcoin (BTC) and Ethereum (ETH) ETFs experienced a capital outflow of 1.7 billion dollars, but whale buying alleviated price impact.
Original article: “Whales Accumulate 36,000 BTC in Two Weeks | Gate Connect Launches Industry-First Apple Pay Sell Feature”
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