Gate Research Institute Daily Report: On November 24, BTC's current price has retreated to around $86,600. If it continues to lose support from the short-term moving averages, it will face the risk of further testing the support range of $85,800–$84,500. ETH's short-term trend shows a weak oscillation pattern. After encountering resistance and retreating near $2,840, it is currently consolidating around the $2,780 level. Ethena's Q3 fee revenue reached a historic high, surpassing $150 million; the video sharing platform Rumble has launched the Rumble Wallet, supporting tipping functions for BTC, XAUT, and USDT; Wormhole Labs has introduced Sunrise, bringing assets like MON into the Solana ecosystem.
BTC (1.22% | Current Price $86,634): BTC's short-term price previously retreated after reaching a high of $93,167, forming a temporary low around $80,646, followed by a weak rebound. The current price has fallen back to around $86,600. If it continues to lose support from the short-term moving averages, it will face the risk of further testing the support range of $85,800–$84,500. Conversely, if it can stabilize above $87,500 and break through with volume, it may test the resistance area of $89,000–$90,200 again. On November 21, the BTC ETF saw a net outflow of $238 million in a single day, with BlackRock's IBIT seeing an outflow of $122 million and Fidelity's FBTC seeing an inflow of $108 million.
ETH (-0.39% | Current Price $2,784): ETH's short-term trend shows a weak oscillation pattern, with the price encountering resistance and retreating after reaching around $2,840. It is currently consolidating around the $2,780 level. If ETH cannot regain the $2,810 resistance area, it may continue to seek support in the $2,750–$2,720 range; conversely, if it breaks through MA30 with volume and stabilizes above $2,810, it may retest the $2,850 resistance. On November 21, the ETH ETF saw a net inflow of $55.7 million in a single day, with BlackRock's ETHA seeing an outflow of $53.7 million and Fidelity's FETH seeing an inflow of $95.4 million.
Altcoins: Most mainstream altcoins have seen slight rebounds, with overall market sentiment being cautious and investor sentiment remaining "neutral." The Fear and Greed Index reported 19 today, indicating an extreme fear zone, showing that market risk appetite remains low.
Macro: On November 21, the S&P 500 index rose by 0.98%, closing at 6,602.99 points; the Dow Jones index rose by 1.08%, closing at 46,245.41 points; the Nasdaq index rose by 0.88%, closing at 22,273.08 points. As of November 24, 10:00 AM (UTC+8), the spot price of gold is reported at $4,048 per ounce, with a 24-hour decline of 0.46%.
According to Gate market data, the TNSR token is currently priced at $0.144, having risen approximately 53.24% in the last 24 hours. Tensor is a trading platform that combines AMM (automated market maker) and NFT markets, allowing users to "sell instantly" and auction collectibles, providing immediate liquidity for sellers. TNSR is its governance token.
The recent rise of TNSR is driven by a combination of "strengthened fundamentals + short squeeze + deflationary expectations." Since mid-September, TNSR has maintained a negative funding rate for a long time, accumulating a large number of short positions. When the price rebounded, it triggered short covering, creating a sustained short squeeze effect. As the largest NFT market on Solana, Tensor has long occupied a significant portion of on-chain trading volume, providing stable fundamental support for the rise. At the same time, the Tensor Foundation announced that 100% of market fees will be injected into the TNSR treasury, 21.6% of unallocated tokens will be burned, and the founder's lock-up period will be extended, reinforcing deflationary expectations. With funds positioned in advance, the positive news has become an important catalyst for accelerating the market.
According to Gate market data, the PARTI token is currently priced at $0.095, having risen approximately 41.58% in the last 24 hours. Particle Network is a Layer-1 blockchain project focused on "chain abstraction," aiming to simplify the Web3 experience, allowing users to interact across multiple blockchains with a single account without worrying about cross-chain bridges, wallets, or various gas tokens' complexities.
PARTI has recently surged, accompanied by increased trading volume and concentrated buying power, indicating that whales and professional funds are accelerating their positioning. The core driving force comes from the accelerated implementation of Universal Accounts in practical applications: MatchAwards utilizes this technology to bring AI capabilities into the crypto space, while Helix promotes RWA cross-chain issuance and circulation through Universal Accounts, signaling that "key infrastructure is being adopted." As Particle Network becomes a potential entry point for cross-chain identity and permission layers, market expectations are heating up, driving the PARTI price higher.
According to Gate market data, the DYM token is currently priced at $0.118, having risen approximately 23.68% in the last 24 hours. Dymension is a modular Layer 1 blockchain based on the Cosmos ecosystem, designed to provide a scalable and efficient platform for RollApp (a high-speed, modular blockchain network) and protected by a Delegated Proof of Stake (DPoS) consensus mechanism.
The rise of DYM is primarily driven by increased trading activity and significant upgrade catalysts. Recently, trading volume has significantly increased, boosting buying pressure, with the price rapidly rising from $0.07 to $0.21 in a short time, showing strong upward momentum. On the fundamental side, the Beyond upgrade proposal has been approved, introducing new assets like USDC and KAS as initial liquidity and supporting seamless deployment of new chains across multiple Layer 1s (including Kaspa), along with cross-ecosystem secure bridges to expand network connectivity. This upgrade significantly enhances Dymension's scalability and ecological growth expectations, further driving the DYM price upward.
According to Tokenterminal data, Ethena's Q3 fee revenue reached a historic high of approximately $151 million, setting a new record for the platform's quarterly fees and bringing Ethena's cumulative total revenue to approximately $599 million.
Ethena's record fee revenue this quarter reflects its growing ecological activity and user engagement, with high trading and usage frequency on the platform. This not only demonstrates the project's robust operational capability in the DeFi space but also provides stronger support for its future profit model. For investors, this means that Ethena's value capture mechanism is gradually maturing, potentially continuing to attract funding attention in the short term while providing ample financial support for long-term ecological expansion.
The video sharing platform Rumble has officially launched the Rumble Wallet, supporting tipping functions for BTC, XAUT, and USDT. CEO Chris Pavlovski announced on the X platform that the current tipping test is only available to Android users, with limited access for thousands of participants. Additionally, the Rumble Wallet will support the upcoming USAT stablecoin and plans to integrate the Lightning Network for faster on-chain payments. Previously, in October, Tether announced that the USAT stablecoin is set to launch on the Rumble platform in December, at which point the Bitcoin tipping function will also be fully launched.
The launch of the Rumble Wallet and the introduction of the tipping function mark a further integration of the creator economy and blockchain payments. By supporting BTC, XAUT, USDT, and the upcoming USAT, the platform not only provides creators with more flexible income options but also ensures the on-chain irreversibility of income. This has positive implications for the long-term healthy development of the creator ecosystem and provides a replicable case for the implementation of crypto payments in social and content platforms. With the integration of the Lightning Network, payment speed and user experience will be further enhanced, likely attracting more creators and users to participate, promoting the actual use of crypto assets in consumption scenarios.
Wormhole Labs has launched Sunrise, a new liquidity portal focused on the Solana ecosystem, aimed at providing standardized cross-chain entry paths for external assets. This platform addresses the common issue of liquidity fragmentation when new tokens are cross-chain, allowing assets to be traded on Solana's DeFi platforms from the moment they go live. Sunrise's initial launch will support the native token MON of the Monad blockchain, which will begin trading on November 24. Through Sunrise, assets can be used directly on Solana platforms such as the Jupiter decentralized exchange and the Orb block explorer. This product is based on Wormhole's Native Token Transfers (NTT) technology, ensuring that cross-chain assets retain their native functionality and fungibility while reducing reliance risks on traditional liquidity pools.
The launch of Sunrise marks an important step in building cross-chain asset liquidity within the Solana ecosystem. By standardizing entry paths and utilizing NTT technology, assets can achieve efficient circulation from day one, reducing the risk of liquidity fragmentation. This not only enhances the attractiveness of the Solana ecosystem but also provides a more stable market access channel for Layer 1 projects like Monad.
Related: Bitwise Chief Investment Officer: Rising Value Capture of Crypto Tokens May Drive Market Rebound in 2026
Original: “Ethena Q3 Fee Revenue Reaches Historic High | Rumble Wallet Launches Supporting BTC Tipping”
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