Gate Research Institute: Whales increased their holdings by 36,000 BTC in two weeks｜Gate Connect launches Apple Pay for selling coins officially.

Crypto Market Overview

• BTC (+0.36% | Current price 103,261 USDT): BTC continued its pullback trend on November 11, dropping from a high of 106,000 USD to below 102,000 USD, with noticeable short-term pressure. Currently, the price has received support in the 102,000–103,000 USD range and has shown 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, and the fast line is beginning to approach the slow line, reflecting a weakening bearish momentum and signs of capital inflow. If BTC can break through the resistance level of 104,600 USD, it is expected to continue its recovery to 106,000 USD; if it breaks below 102,000 USD, it may test the 99,200 USD support area again.
• ETH (+0.87% | Current price 3,448 USDT): ETH continues the downward trend from its high, dropping from around 3,650 USD to the 3,400 USD area. After finding support at 3,400 USD, it stabilized and rebounded in the short term, with MA5 and MA10 showing signs of turning, but still operating below MA30. The MACD green bars are significantly converging, with the fast line and slow line tending to merge, indicating a weakening of downward momentum. If ETH breaks through 3,520 USD, it may rise to around 3,650 USD; if it falls below the 3,400 USD support again, it may retest the low of 3,320 USD.
• Altcoins: The overall market continues to adjust, with the fear and greed index dropping to 24, remaining in the “extreme fear” range for several consecutive days, leading to persistently low investor sentiment. Major cryptocurrencies are generally under pressure, with SOL down by 7.6%, and XRP and ADA weakening simultaneously. Risk aversion is rising, with short-term selling pressure being concentrated and released, indicating a tightening of market liquidity, reflecting a phase of adjustment dominated by panic sentiment.
• Macro: On November 11, the S&P 500 Index rose by 0.21% to 6,846.61 points; the Dow Jones Index rose by 0.18% to 47,927.96 points; the Nasdaq Index fell by 0.25% to 23,468.30 points. As of November 12 at 10:15 AM ( UTC+8, the spot gold price is temporarily reported at 4,127 dollars per ounce, with a 24H increase of 0.01%.

Popular Tokens on Juejin

LSK Lisk (+52.65%, circulating market cap $71,514,300)

According to Gate market data, the current price of LSK token is 0.3363 USD, with an increase of approximately 52.65% in the last 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 achieving lightweight deployment of multi-chain architecture through the Lisk SDK. Its core objective is to lower the entry threshold for Web3, support cross-chain communication, and provide a user-friendly experience.

Recently, Lisk is accelerating 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 the field of regional payments and practical assets with its regulated, 1:1 on-chain anchoring characteristics.

ALLO Allora (+10.54%, circulating market value 89.6235 million USD)

According to Gate market data, the current price of the ALLO token is $0.4423, having increased by 10.54% in the last 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 intelligence-backed assets on the blockchain. The core mechanisms of Allora include decentralized training, prediction market-style incentives, and a model validation network, forming a self-optimizing AI collaborative ecosystem.

The ALLO token has risen significantly in the past 24 hours, mainly driven by the following positive factors: First, the mainnet has officially launched, marking the birth of the first Intelligence-backed Asset, which has significantly warmed market sentiment; second, the multi-chain deployment has been completed, and ALLO is now integrated with mainstream chains such as Ethereum, Base, and BSC via the LayerZero OFT standard, enhancing asset liquidity. Overall, this round of increase reflects the market's ongoing attention to the AI + Web3 narrative and the concentrated release of ecological expectations following the launch of the Allora mainnet.

CC Canton Network (+11.81%, circulating market cap 4.517 billion USD)

According to Gate market data, the CC token is currently priced at 0.12642 USD, having risen approximately 11.81% in the last 24 hours. The 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, with the goal of becoming a “trusted bridge” connecting traditional finance and decentralized ecosystems.

The recent 24-hour rise of CC tokens is primarily driven by the following positive factors: First, the innovation in 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 teams to settle in and build practical applications; third, the increase in social media popularity, with the official team 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.”

Alpha Interpretation

Daylight teams up with Plasma to promote the decentralization of energy financialization.

The decentralized energy network Daylight announced a strategic partnership with Plasma, where both parties will promote the financialization of energy assets through on-chain infrastructure. According to the agreement, Daylight will issue revenue-generating assets GRID on Plasma, aimed at financing and expanding distributed energy network construction. This asset will be issued by M0, adopting a fully collateralized mechanism and supporting instant redemption features, ensuring fund security and liquidity. This cooperation marks a deep integration of decentralized finance (DeFi) with energy infrastructure, bringing a more transparent and efficient capital support pathway for green energy projects.

At the same time, GRID holders can further mint sGRID to participate in the distributed energy revenue distribution of Daylight, thereby forming an on-chain closed-loop economic model of “financing - power generation - revenue.” This move not only lowers the entry threshold 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. It is widely believed in the industry 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 maturation of the decentralized energy economy.

Gate Connect has officially launched the groundbreaking Apple Pay cryptocurrency selling feature, leading the way for Web3 payment scenarios.

According to the official announcement, Gate, a global leading encryption asset platform, has announced that its self-operated deposit and withdrawal channel, Gate Connect, has officially launched the Apple Pay selling function, becoming the first Web3 exchange to support this feature. Users can directly sell encryption assets in the Gate App via Apple Pay and instantly withdraw to their linked Visa or Mastercard debit or credit card, achieving seamless fiat currency collection. With Apple Pay's native encryption system and Gate's quadruple security verification mechanism, the entire transaction process ensures dual protection in terms of security and convenience, significantly enhancing the user experience.

Currently, Gate Connect has fully supported various payment methods such as 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 encryption 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 application of crypto finance, providing users with more flexible, secure, and efficient asset circulation pathways.

The giant whale increased its holdings by 36,000 BTC in two weeks, supporting Bitcoin to maintain the 100,000 USD mark.

According to CryptoQuant data, from October 24 to November 7, the holdings of Bitcoin whales doubled in just two weeks, accumulating an increase of over 36,000 BTC. This wave of concentrated buying occurred during a brief market correction, showing that large investors actively accumulated at low levels, providing solid support for the price. The continued inflow of whale funds has strengthened market confidence on the sentiment front, keeping BTC strong in a volatile pattern around the $100,000 mark, with no obvious signs of selling pressure.

From on-chain data observation, this round of accumulation is mainly concentrated among long-term holders and institutional 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 BTC supply side will further tighten, pushing prices 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 catalytic factor for the next stage of the market. <br> Reference Material:

• Gate, https://www.gate.com/trade/BTC_USDT
• Farside Investors, https://farside.co.uk/btc/
• Gate, https://www.gate.com/trade/ETH_USDT
• Farside Investors, https://farside.co.uk/eth/
• Gate, https://www.gate.com/crypto-market-data
• Investing, https://investing.com/indices/usa-indices
• Investing, https://investing.com/currencies/xau-usd
• X, https://x.com/Plasma/status/1987926351211360724?s=20
• Gate, https://www.gate.com/help/guide/functional_guidelines/48104
• X, https://x.com/cryptoquant_com/status/1987861044124110900/photo/1

<br> Gate Institute is a comprehensive blockchain and encryption research platform that offers readers in-depth content, including technical analysis, hot insights, market reviews, industry research, trend forecasts, and macroeconomic policy analysis.

Disclaimer Investing in the crypto market involves high risks. Users are advised to conduct independent research and fully understand the nature of the assets and products purchased before making any investment decisions. Gate is not responsible for any losses or damages resulting from such investment decisions.