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#Crypto Market Rebounds#
The crypto market is rallying across the board — altcoins are gaining momentum, and Memecoins are heating up! 🔥MOODENG is up over 100%, while PNUT and VIRTUAL have each gained more than 45%. The total crypto market cap has now exceeded $3.22 trillion!
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Gate Research Institute: BTC hits a new high again, 82% of the first day of BlackRock BTC Options trading are call options
Summary
Market Commentary
According to the gate market data, as of 4:00 on November 20th (UTC+0) [1]:
Popular Token
According to gate market data【7】, combined with the volume and price performance in the past 24 hours, the following popular altcoins are:
**JUNO - Single-day increase of about 273.7%, with a circulating market value of USD 43.92 million. ** Juno is a Decentralization Cross-Chain Interaction application network built on the Cosmos SDK, supporting CosmWasm Smart Contract development. It is an on-chain governance and ecosystem construction platform driven by JUNO Token.
Recently, Juno's cross-chain smart contract ecology has made smooth progress, and the market's recognition of its importance as a key part of the Cosmos ecosystem has risen. The promotion of network governance activities and ecological upgrades has further stimulated investor enthusiasm. This news may be an important factor in driving its price to pump in a single day.
**QUASAR —— The single-day increase is about 75.6%, with a circulating market capitalization of 2.40 billion US dollars. Quasar is a Decentralization-based, text-based virtual universe, integrating advanced artificial intelligence interaction, blockchain technology (supported by Solana), and classic multi-user dimension (MUD) games, aiming to provide an immersive experience. The platform allows users to interact, collaborate, and create value in a persistent, autonomous digital world where human users and artificial intelligence agents coexist.
QUASAR has sparked market follow with its innovative virtual universe concept, and its positive performance in integration performance optimization on Solana and promotion of new user experience incentives may become important drivers for its big rise in price in a single day.
XYO - The daily increase is about 41.4%, with a market capitalization of 124 million US dollars. XYO is an ecosystem consisting of consumer software, developer tools, a Decentralization network, and digital assets. The XYO ecosystem is centered around the XYO Token, which accumulates and circulates data, allowing individuals and organizational participants in the ecosystem to retain control over their own data (also known as data sovereignty). By providing immutable, tamper-proof blockchain data for various purposes, including artificial intelligence modeling, Metaverse applications, and data analysis, it incentivizes data owners and rewards them with XYO Tokens.
Recently, XYO community media released a tweet introducing an exciting development that is about to come. The market interprets this as a Favourable Information upgrade for the project, and the market's interest in the concept of DePIN (decentralized Internet of Things) continues to heat up. Under multiple influences, it has driven the XYO Token price to pump rapidly.
Highlight Data
The USDe supply has exceeded 3.3 billion, with a 7-day growth rate of 12.16%. According to DefiLlama platform data, as of November 19th, the supply of USDe reached 3.12474 billion, with a 7-day increase of 12.16%. This rise reflects the strong demand for this stablecoin in the Decentralized Finance (DeFi) field. The weekly average yield of USDe staked as sUSDe in the past week reached 29%. Last week, USDe officially launched in the gate investment zone, with early participants rewarded up to 45%. Through cooperation with gate and other exchanges, USDe is reaching more users. With the increase in its circulation, USDe is expected to gain more application scenarios and further increase its market share.
Ignition FBTC TVL broke through 1 billion US dollars, with a 30-day increase of over 256% The total locked position (TVL) of FBTC, the full-chain BTC asset of Ignition issuance, has exceeded 1 billion US dollars, with a 30-day rise of over 256%. This significant rise indicates strong market recognition of FBTC and reflects investors' confidence in the field of Decentralized Finance. As a 1:1 collateralized BTC asset, FBTC enhances the liquidity of BTC on multiple on-chain blocks, enabling it to participate in more profit strategies. [9]
Axelar Cross-Chain Interactionvolume breaks 10 billion US dollars Axelar's Cross-Chain Interaction interoperability network has accumulated a Cross-Chain Interaction volume of over 10 billion US dollars. The funds mainly flow through BNB Chain and Sei, followed by Osmosis and Ethereum, demonstrating its advantageous position in interconnectivity among these blockchains. However, there is still significant potential in Cross-Chain Interaction transactions on mainstream public chains such as Base, Solana, TON, and other public chains. [10]
The DEX volume continues to fall, with Uniswap still dominating In the past four days, the total volume of Decentralizationexchange (DEX) has shown a downward trend, which may be related to market fluctuations or investor wait-and-see sentiment. In the past 24 hours, Uniswap ranked first with a volume of $36.4 billion; PancakeSwap ranked second with a volume of $12 billion, mainly serving the BSC ecosystem; Aerodrome ranked third with a volume of $8.98 billion, mainly from the Base ecosystem. [11]
The total Lock-up Position of the BTC ecosystem has exceeded $4.1 billion, and the ecological activities have significantly improved According to DefiLlama data, the total Lock-up Position value of the BTC ecosystem has reached $4.108 billion, which has recently risen significantly due to the participation of new participants and the significant pump in BTC price. In the past 24 hours, the number of active addresses in the BTC ecosystem has reached nearly 800,000, reflecting a high level of network activity and increased user participation. At the same time, the BTC network's transaction fee revenue reached $1.58 million in the past 24 hours, indicating that network volume and usage frequency are still at a high level.[12]
$IBIT's first day Options trading volume was nearly 1.9 billion US dollars, with call Options accounting for more than 80% $IBIT The final total amount of Options trading on the first day was close to $1.9 billion on November 19th, with 354,000 Contract Trading. Among them, 289,000 are bullish Options, and 65,000 are call options, with a ratio of 4.4:1. Whether it is a huge trading volume or a 4.4:1 long-short ratio, it highlights the market's optimism. The high trading volume and the proportion of bullish Options reflect investors' expectations of pumping the price of the underlying asset of $IBIT, while demonstrating the ability of this product to inject liquidity into the market in the short term.
This data not only reflects the huge potential of the $IBIT Options product in the market, but also lays the foundation for its future development. Investors use call options to pursue high returns, and may also use put options for risk hedging, demonstrating the diversification of market participation strategies. [13]
Hotspot Review
Bitfinex Securities and NexBridge launch the first tokenization of US Treasury bonds in El Salvador, promoting financial innovation USTBL, jointly launched by Bitfinex Securities and NexBridge, as the first regulated tokenization US Treasury Bond under the legal framework in El Salvador, marks a major breakthrough in the field of digital assets. This innovative product not only provides stable returns for investors, but also simplifies the investment process using BTC technology, with an expected Annual Percentage Rate of up to 5.02%. By dropping the reliance on traditional Financial Intermediaries, USTBL allows more investors to enter the US Treasury Bond market at a lower cost, which undoubtedly poses an effective challenge to the TradFi system.
El Salvador has successfully attracted global investors to follow with its clear digital asset legal framework, further consolidating its status as the "Bitcoin country". The launch of USTBL also provides a reference example for the regulation of digital assets in other countries, especially in the integration of TradFi tools with blockchain technology. With the issuance of USTBL, Bitfinex and NexBridge have not only accelerated the digitization of the financial market, but also contributed to improving the transparency and efficiency of the global financial ecosystem. This event indicates that the boundaries between digital assets and TradFi are gradually fading, opening up more possibilities for future financial innovation.
Paxos acquisition Membrane Finance, expanding into the European market On November 19th, Paxos announced the acquisition of the Finnish Electronic Money institution Membrane Finance, further expanding its global Compliance platform and entering the European market. The acquisition is subject to regulatory approval, and upon completion, Paxos will become a wholly-owned licensed Electronic Money institution (EMI) in Finland and the European Union. Through this acquisition, Paxos will extend its trust-backed stablecoins and Blockchain infrastructure to Europe, in compliance with the upcoming Markets in Crypto-Assets Regulation (MiCA).
Walter Hessert, the strategic leader of Paxos, said that as a global payment solution, Stable Coin is rapidly gaining popularity. Paxos will use Membrane's European license and network to help more users securely use Stable Coin in compliance. This expansion not only reflects the potential for Paxos in the global market, but also its leading position in compliance and infrastructure construction. However, the strict regulatory requirements in Europe also pose higher challenges for market participants. The implementation of MiCA may increase operating costs and limit the innovation space for Stable Coin. In the future, how Paxos can maintain its product competitiveness while ensuring compliance will be the key to its success in the European market.
dYdX Unlimited officially launched, supporting permissionless markets online dYdX Foundation announced that the dYdX Unlimited version has officially launched. The dYdX Unlimited version brings significant updates, including: users can freely create trading markets to meet personalized needs; the introduction of MegaVault provides users with more profit opportunities; incentivizing user participation and promoting platform development through optimized tokenomics.
The release of dYdX Unlimited marks a solid step for dYdX in the Decentralized Finance arena. The launch of a series of innovative features such as instant market creation, MegaVault, and a brand new incentive program not only enriches the platform's product matrix, but also demonstrates dYdX's leading edge in technological innovation and user experience. The opening of the instant market creation feature will greatly stimulate the community's creativity and trading enthusiasm, enriching the platform's variety of trading pairs. The launch of MegaVault provides users with a more convenient way of financial management, improving the efficiency of fund utilization. The new incentive program will further consolidate dYdX's competitiveness in the Decentralized Finance field and attract more users to join.
dYdX's successful exploration will have a profound impact on the entire Decentralized Finance industry. On the one hand, it will accelerate the development of Decentralized Finance trading platforms towards greater openness and flexibility. On the other hand, dYdX's innovative model will attract more users to enter the Decentralized Finance field and promote the overall prosperity of the industry. In addition, the success of dYdX will also inspire other Decentralized Finance projects to continuously innovate and enhance the competitiveness of the entire industry.【16】
ai16z Releases New Coin ELIZA, Community's "Capitalization Debate" Sparks Again Recently, AI risk fund ai16z announced the launch of a new Token ELIZA (in uppercase), triggering intense opposition between the community and the project party. The original Token eliza (in lowercase) from ai16z once broke through a Market Cap of 50 million USD as market expectations drove it. However, ai16z partner Shaw announced on Twitter that eliza would be handed over to the community for free development, and a new Token ELIZA controlled by ai16z would be launched. This directly led to a big dump in the price of eliza of over 87%, while the Market Cap of ELIZA quickly soared to 80 million USD. This incident not only caused dramatic Fluctuation in the Token market, but also sparked widespread discussions in the community about control and the spirit of autonomy. Some community members accused ai16z of abandoning the promise of Decentralization, while Shaw emphasized that the launch of the new Token was to prevent the original Token from being exploited by speculators.
This event not only reflects the contradiction between community autonomy and institutional control, but also reveals the underlying issues in Web3 project governance. a16z's actions have raised questions about the role of institutions in the Decentralization ecosystem, and the community's accusations of 'conspiracy groups' further intensify the controversy. As on-chain data reveals the concentration of holdings in the new ELIZA, the market's reflection on speculative culture is once again heating up. This 'case of uppercase and lowercase' has not only stirred up the Token market, but also provided a case study for Web3 projects to find a balance between autonomy and dominance. In the future, whether ELIZA's development can rebuild market trust will become an important window for observing the governance and ecological evolution of Web3 projects.
Financing Information
According to RootData, 6 projects announced funding in the past 24 hours, with the highest funding amount being 15 million US dollars. The total funding exceeded 30 million US dollars, involving gaming, Decentralized Finance, infrastructure zone. Here are the top three funding scales: [18]
**Noble **- Stablecoin company Noble has completed a $15 million Series A financing round, led by Paradigm. Noble has raised a total of $18.3 million and has partnered with stablecoin issuance companies such as Circle, Ondo Finance, Hashnote Labs, and Monerium. Currently, the platform manages assets worth over $458 million.
Noble is an AppChain built specifically for the issuance of native assets in the Cosmos and IBC ecosystems, helping issuers manage their Tokens and providing functionalities such as destruction, minting, blacklisting, and more. Noble acts as an intermediary, collaborating with stablecoin issuers to efficiently distribute their products to 50 different on-chain Blocks, while providing developers with a seamless user interface to ensure compatibility with Noble for their AppChain.
Bitfinity Network - Bitfinity Network has completed a $5 million financing round, with participation from Polychain, ParaFi Capital, and others. Bitfinity (formerly known as InfinitySwap) is a second-layer (L2) solution for BTC, which utilizes threshold signature scheme and is built on IC.
LuluChain —— LuluChain announced the completion of a $5 million institutional round of financing with a valuation of $50 million, led by DG Capital, with participation from Smo Capital and LD Block.
Luluchain uses modular blockchain and AI technology to achieve efficient management of emotional data and personalized services. Luluchain's vision is to build an intelligent emotional value ecosystem based on modular blockchain, providing secure and personalized social scenarios, and promoting the digitalization and objectification transformation of global emotional value.
Airdrop Opportunity
Nodepay — Nodepay is a network infrastructure that provides Decentralization bandwidth for artificial intelligence training. By connecting to the Nodepay network, users will be able to sell unused internet to AI companies, enabling efficient transmission of public training data, labels, model sharing, and remote distributed training. Users can earn project points through network sharing. The project is currently in Season 1 and has attracted investment support from well-known institutions such as Animoca Brands. Nodepay offers comprehensive mobile and browser application features, designed to allow users to earn points and rewards through Node operation in a more convenient way, laying the foundation for future Airdrops.
How to participate:
Reminder: The Airdrop plan and participation methods may be updated at any time. It is recommended that users follow Nodepay's official channels to obtain the latest information. At the same time, users should participate with caution, pay attention to risks, and conduct thorough research before participating. gate does not guarantee the subsequent distribution of Airdrop rewards.
Reference:
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