Bitcoin fell below $100,000
On November 7, the price of Bitcoin fell below the symbolic $100,000 threshold for the first time in a long time, testing the level of ~$99,900. Amid the correction, almost the entire top ten cryptocurrencies by market capitalization declined—with the exception of Dogecoin, which showed a moderate increase of 0.3%. Volatility led to the liquidation of positions worth $76.8 million in just an hour, and the daily volume reached $674.3 million. The Fear and Greed Index dropped to 24, signaling the market's transition to the "extreme fear" phase.
Crypto funds recorded $360 million in outflows
From October 27 to 31, capital outflow from crypto investment products amounted to $360 million, according to a CoinShares report. Despite the Federal Reserve's 25 basis points cut to 3.75-4%—the second in a row—markets remained uncertain. Fed Chairman Jerome Powell made it clear that a December easing is not guaranteed. According to CME FedWatch, the probability of such a move is around 70%.
The negative impact was felt most strongly in the United States, where investors withdrew $439 million. Meanwhile, Germany and Switzerland partially offset losses, with inflows amounting to $32 million and $30.8 million, respectively. The largest outflow came from Bitcoin funds—$946 million. According to CoinShares, this underscores BTC's sensitivity to US monetary policy.
Again, Solana-based funds attracted $421 million, the second-highest ever. The majority of the inflows went to new spot SOL ETFs. Ethereum-based products saw moderate inflows of $57.6 million, but the daily spread suggests mixed sentiment.
Ethereum ecosystem hits new record: 24,000 TPS
The Ethereum ecosystem has set a new record for transactions per second (TPS), reaching 24,192 transactions. This increase is due to the inclusion of data from Lighter, the L2 network of a decentralized exchange whose throughput exceeds 4,000 TPS. This significantly outpaces, for example, Base, which processes only 100-200 transactions per second.
This achievement was made possible by the Pectra and Dencun hard forks, which accelerated the performance of L2 solutions. Vitalik Buterin noted that these results demonstrate Ethereum's successful scalability.
Zcash roadmap for Q4
Electric Coin Co. (ECC), the company behind Zcash and the Zashi wallet, has revealed its plans for the fourth quarter amidst a surge in interest in the ZEC token, which has risen more than 190% in a month.
By the end of the year, the team will focus on integrating one-time addresses for ZEC exchanges via the Near Intents protocol, automatically generating new addresses after receiving funds, and enabling resynchronization for Keystone hardware wallet users. Support for multisig wallets will also be added, intended to be used for managing the Zcash developer fund.
The NU6.1 mainnet upgrade is scheduled for November. ECC emphasized that further actions will depend on market conditions and factors affecting the company's revenue.
Ripple acquires Palisade to expand wallet presence
Fintech company Ripple has acquired custody solutions developer Palisade to expand Ripple Custody's capabilities and make it accessible to a wider audience. Initially, the service was targeted at banks and financial institutions working with tokenized assets, stablecoins, and RWAs. With Palisade's technology—including its wallet-as-a-service model—Ripple will be able to serve fintech companies, crypto firms, and corporations where transaction speed and frequency are critical.
The integration of the two companies' solutions will create a unified custody and payment solution, covering everything from long-term storage to instant transfers. Palisade's architecture utilizes multi-party computation (MPC) and a zero-trust model, ensuring a high level of security and verification of every transaction. Palisade will also be integrated into Ripple Payments, including support for subscriptions and fast settlements. Ripple Custody's clients include Absa Bank, BBVA, DBS, and SG-FORGE (a subsidiary of Societe Generale).
Ethereum Foundation launches new grant program
The Ethereum Foundation (EF) has launched a redesigned grant program with a focus on proactively supporting initiatives aligned with the ecosystem's strategic goals. Following the suspension of the previous ESP model in August, the organization has rethought its selection principles. Instead of a reactive approach, where EF simply reviewed incoming applications, the foundation will now prioritize and reward projects that can address key network needs.
The updated ESP is divided into two streams: a "Wish List," outlining the overall objectives of the ecosystem, and "Requests for Proposals," which outline specific challenges for which EF seeks targeted solutions from applicants. The foundation has already published starting lists of projects for both channels. Grant amounts will be determined individually, depending on the scale and needs of the project. Applicants are encouraged to include an estimated budget in their proposals.
