Based on data from Gate.io as of 4:00 (UTC+0) on October 30[1]:
According to Gate.io market data[1], the following altcoins are trending based on 24-Hour trading volume and price performance:
GFI — Daily increase of approximately 36.1%, with a circulating market cap of $131 million.
Goldfinch is a decentralized credit protocol that provides crypto loans without requiring crypto collateral and offering passive income opportunities. GFI serves as a key component in Goldfinch’s governance and operations.
Over the past month, the price of GFI has dropped by more than 60%, making this recent price increase appear to be a strong rebound following an “oversold” period[10].
DEEP — Daily increase of approximately 35.2%, with a circulating market cap of $147 million.
DeepBook is a shared decentralized central limit order book (CLOB) exchange built for the Sui ecosystem, leveraging Sui’s performance to provide a low-latency, high-execution engine that spreads liquidity throughout the DeFi ecosystem.
As the price of SUI rises, the Sui ecosystem has attracted significant attention from investors. DEEP, as a Sui ecosystem token recently listed on various exchanges, has seen growing recognition and an increase in community members[11].
CHEX — Daily increase of approximately 23.9%, with a circulating market cap of $314 million.
Chintai, licensed and regulated by the Monetary Authority of Singapore (MAS), uses its innovative $CHEX token to provide a compliant, one-stop solution for bringing real-world assets (RWAs) on-chain.
The RWA (Real-World Assets) sector has recently garnered significant capital interest, and as one of the few compliant RWA solutions, Chintai has also attracted a large number of investors[12].
Bitcoin ETF Experienced Net Inflow of $870.02M
According to SoSoValue data, U.S. Bitcoin spot ETFs saw a net inflow exceeding $870 million on October 29, with a daily trading volume of $4.75 billion. The cumulative net inflow stands at $23.28 billion, while the total value of BTC managed by ETFs is approximately $72.55 billion, accounting for 5.07% of Bitcoin’s total market cap[4].
Ethereum Recorded ETF Net Inflow of $7.65M
According to SoSoValue data, the U.S. Ethereum spot ETF experienced a net inflow of $7.65 million on October 29, with a daily trading volume of $281 million. Despite this inflow, the cumulative net outflow stands at approximately $498 million, and the total value of ETH managed by ETFs is around $7.26 billion, representing 2.30% of Ethereum’s total market cap.
Total Bitcoin Futures Open Interest Surpasses $43 Billion, Setting a New All-Time High
According to data from Coinglass, total global Bitcoin futures open interest has exceeded $43 billion, currently reported at $43.167 billion, marking a new record high with a 24-hour increase of 4.97%.
This growth in open interest often signals potential future price volatility, especially as long and short positions intensify, which could trigger a “short squeeze” or “long squeeze”. It also reflects increased demand for market liquidity and rising investor confidence, though the potential liquidation risks associated with leveraged positions warrant caution[13].
Currently, 99% of Bitcoin Holding Addresses Are Profitable
According to data from IntoTheBlock, 99% of Bitcoin holding addresses are currently in a profitable state[14].
Circle Raises USDC Redemption Fees to Address Yield Pressure Amid Fed Rate Cuts
As the Federal Reserve initiates interest rate cut, base returns on dollar deposits and U.S. Treasury bonds are decreasing, reducing reserve income for stablecoin operators like Circle and increasing operational pressure. In response, Circle has announced fees ranging from 0.03% to 0.1% for USDC redemptions exceeding $15 million, along with additional fees for instant redemptions over $2 million daily.
While Circle’s strategy aims to offset declining yields and prepare for potential public listing, this move couldpotentially disadvantage it in the increasingly competitive stablecoin market. Currently, market data shows significant disparities in stablecoin market shares: USDT dominates with a $12.042 billion market share, accounting for 69.7%. In comparison, USDC has a $3.45 billion market share, roughly one-third of USDT’s, accounting for 20%. Other stablecoins, such as DAI, FDUSD, and USDe, have smaller shares of $490 million, $270 million, and $225 million,respectively[15].
Polymarket’s Average U.S. Election Trading Volume in October Surges by 800%
As the U.S. presidential election approaches, trading activity related to the election has surged on Polymarket, with October’s average trading volume increasing 800% over the previous month. As of 4:00 (UTC+0) on October 30, Polymarket data shows a 66.6% probability for Trump to win the election, reflecting strong market expectations of his victory. The cumulative amount wagered on a Trump win has surpassed $426 million, with over 1.15 million wallet addresses involved, indicating substantial attention and widespread support for Trump in the market.
However, it’s important to note that the demographic of Polymarket users may differ from that of actual voters, and support could be influenced by Trump’s potentially favorable stance toward cryptocurrency policies, making this forecast a reflection of market sentiment rather than a direct prediction. Additionally, the preferences unique to Web3 users may further impact the reliability of these predictions, necessitating a comparison with broader election polling data for a more comprehensive assessment[16].
Bitcoin Layer 2 Network Stacks Completes Nakamoto Upgrade, Reducing Transaction Confirmation to Seconds
On October 29, Stacks successfully launched the Nakamoto upgrade, marking a significant advancement for the Bitcoin ecosystem. With this upgrade, transactions on the Stacks Layer 2 network achieve 100% Bitcoin finality, with transaction sequencing and reversibility now safeguarded by Bitcoin’s full hash power. The “Fast Blocks” feature reduces transaction confirmation times to just a few seconds, compared to Bitcoin’s usual 10–40 minutes. Stacks no longer risks forking independently from Bitcoin; the only way for Stacks Layer 2 to fork would be through a Bitcoin reorganization. Additionally, the Nakamoto upgrade paves the way for SBTC, a BTC-pegged derivative, which is expected to launch in the next 4-6 weeks following the upgrade[17][18].
According to DefiLlama, Stacks holds 12.45% of total value locked (TVL) among Bitcoin sidechain projects, ranking third after CORE and Bitlayer. Currently, 19 protocols are in development within the Stacks ecosystem, with StackingDAO leading in TVL. This Nakamoto upgrade is expected to enhance Stacks’ appeal to developers and users, accelerating its growth within the Bitcoin sidechain ecosystem[19].
Printr, a Multichain MEME Token Launch Platform Powered by Axelar, Set to Go Live
On October 29, Printr, a multichain launch and trading platform for MEME tokens powered by the interoperability platform Axelar, officially launched. Printr spans over 69 blockchains and aims to consolidate liquidity and address the issue of fragmented funds caused by single-chain token issuance. Alongside Axelar, Squidrouter also provides technical support for Printr.
From a market perspective, this cross-chain platform offers several benefits to the token issuance ecosystem:
According to RootData, three funding rounds were announced in the past 24 hours, with a total funding amount exceeding $14.3 million[21].
Native — Completed a $2.6 million seed funding round with participation from Nexus Mutual. Native is a global brokerage connecting traditional insurance with on-chain capital, offering both on-chain and off-chain risk products with coverage limits of up to $20 million. Its mission is to address the long-standing lack of insurance options for digital assets.
PumpBTC — Raised $10 million in seed funding, led by SevenX Ventures and Mirana. PumpBTC focuses on providing a liquidity staking solution for Bitcoin. Users can stake BTC with Babylon in one click and immediately receive liquidity tokens in return.
KRNL Labs — Secured $1.7 million in pre-seed funding from notable investors such as TRGC, Superscrypt, and Ryze Labs. KRNL Labs aims to simplify decentralized application (dApp) development through innovative RPC node technology that enables cross-chain communication. The KRNL protocol functions similarly to npm, supporting asynchronous composability, allowing developers to efficiently build dApps that can operate across multiple blockchains.
TestME is a test token introduced by the NFT platform Magic Eden to help users experience a simulation of the upcoming $ME token claim process. Although TestME itself has no monetary value, participating in the claim test allows users to familiarize themselves with the process, making it easier to receive $ME tokens during the official airdrop. The claim process takes place in Magic Eden’s mobile wallet app and incurs no fees[22].
Participation Steps:
Reference:
Gate Research
Gate Research is a comprehensive blockchain and crypto research platform that provides readers with in-depth content, including technical analysis, hot insights, market reviews, industry research, trend forecasts, and macroeconomic policy analysis.
Click the Link to learn more
Disclaimer
Investing in the cryptocurrency market involves high risk, and it is recommended that users conduct independent research and fully understand the nature of the assets and products they are purchasing before making any investment decisions. Gate.io is not responsible for any losses or damages caused by such investment decisions.
Based on data from Gate.io as of 4:00 (UTC+0) on October 30[1]:
According to Gate.io market data[1], the following altcoins are trending based on 24-Hour trading volume and price performance:
GFI — Daily increase of approximately 36.1%, with a circulating market cap of $131 million.
Goldfinch is a decentralized credit protocol that provides crypto loans without requiring crypto collateral and offering passive income opportunities. GFI serves as a key component in Goldfinch’s governance and operations.
Over the past month, the price of GFI has dropped by more than 60%, making this recent price increase appear to be a strong rebound following an “oversold” period[10].
DEEP — Daily increase of approximately 35.2%, with a circulating market cap of $147 million.
DeepBook is a shared decentralized central limit order book (CLOB) exchange built for the Sui ecosystem, leveraging Sui’s performance to provide a low-latency, high-execution engine that spreads liquidity throughout the DeFi ecosystem.
As the price of SUI rises, the Sui ecosystem has attracted significant attention from investors. DEEP, as a Sui ecosystem token recently listed on various exchanges, has seen growing recognition and an increase in community members[11].
CHEX — Daily increase of approximately 23.9%, with a circulating market cap of $314 million.
Chintai, licensed and regulated by the Monetary Authority of Singapore (MAS), uses its innovative $CHEX token to provide a compliant, one-stop solution for bringing real-world assets (RWAs) on-chain.
The RWA (Real-World Assets) sector has recently garnered significant capital interest, and as one of the few compliant RWA solutions, Chintai has also attracted a large number of investors[12].
Bitcoin ETF Experienced Net Inflow of $870.02M
According to SoSoValue data, U.S. Bitcoin spot ETFs saw a net inflow exceeding $870 million on October 29, with a daily trading volume of $4.75 billion. The cumulative net inflow stands at $23.28 billion, while the total value of BTC managed by ETFs is approximately $72.55 billion, accounting for 5.07% of Bitcoin’s total market cap[4].
Ethereum Recorded ETF Net Inflow of $7.65M
According to SoSoValue data, the U.S. Ethereum spot ETF experienced a net inflow of $7.65 million on October 29, with a daily trading volume of $281 million. Despite this inflow, the cumulative net outflow stands at approximately $498 million, and the total value of ETH managed by ETFs is around $7.26 billion, representing 2.30% of Ethereum’s total market cap.
Total Bitcoin Futures Open Interest Surpasses $43 Billion, Setting a New All-Time High
According to data from Coinglass, total global Bitcoin futures open interest has exceeded $43 billion, currently reported at $43.167 billion, marking a new record high with a 24-hour increase of 4.97%.
This growth in open interest often signals potential future price volatility, especially as long and short positions intensify, which could trigger a “short squeeze” or “long squeeze”. It also reflects increased demand for market liquidity and rising investor confidence, though the potential liquidation risks associated with leveraged positions warrant caution[13].
Currently, 99% of Bitcoin Holding Addresses Are Profitable
According to data from IntoTheBlock, 99% of Bitcoin holding addresses are currently in a profitable state[14].
Circle Raises USDC Redemption Fees to Address Yield Pressure Amid Fed Rate Cuts
As the Federal Reserve initiates interest rate cut, base returns on dollar deposits and U.S. Treasury bonds are decreasing, reducing reserve income for stablecoin operators like Circle and increasing operational pressure. In response, Circle has announced fees ranging from 0.03% to 0.1% for USDC redemptions exceeding $15 million, along with additional fees for instant redemptions over $2 million daily.
While Circle’s strategy aims to offset declining yields and prepare for potential public listing, this move couldpotentially disadvantage it in the increasingly competitive stablecoin market. Currently, market data shows significant disparities in stablecoin market shares: USDT dominates with a $12.042 billion market share, accounting for 69.7%. In comparison, USDC has a $3.45 billion market share, roughly one-third of USDT’s, accounting for 20%. Other stablecoins, such as DAI, FDUSD, and USDe, have smaller shares of $490 million, $270 million, and $225 million,respectively[15].
Polymarket’s Average U.S. Election Trading Volume in October Surges by 800%
As the U.S. presidential election approaches, trading activity related to the election has surged on Polymarket, with October’s average trading volume increasing 800% over the previous month. As of 4:00 (UTC+0) on October 30, Polymarket data shows a 66.6% probability for Trump to win the election, reflecting strong market expectations of his victory. The cumulative amount wagered on a Trump win has surpassed $426 million, with over 1.15 million wallet addresses involved, indicating substantial attention and widespread support for Trump in the market.
However, it’s important to note that the demographic of Polymarket users may differ from that of actual voters, and support could be influenced by Trump’s potentially favorable stance toward cryptocurrency policies, making this forecast a reflection of market sentiment rather than a direct prediction. Additionally, the preferences unique to Web3 users may further impact the reliability of these predictions, necessitating a comparison with broader election polling data for a more comprehensive assessment[16].
Bitcoin Layer 2 Network Stacks Completes Nakamoto Upgrade, Reducing Transaction Confirmation to Seconds
On October 29, Stacks successfully launched the Nakamoto upgrade, marking a significant advancement for the Bitcoin ecosystem. With this upgrade, transactions on the Stacks Layer 2 network achieve 100% Bitcoin finality, with transaction sequencing and reversibility now safeguarded by Bitcoin’s full hash power. The “Fast Blocks” feature reduces transaction confirmation times to just a few seconds, compared to Bitcoin’s usual 10–40 minutes. Stacks no longer risks forking independently from Bitcoin; the only way for Stacks Layer 2 to fork would be through a Bitcoin reorganization. Additionally, the Nakamoto upgrade paves the way for SBTC, a BTC-pegged derivative, which is expected to launch in the next 4-6 weeks following the upgrade[17][18].
According to DefiLlama, Stacks holds 12.45% of total value locked (TVL) among Bitcoin sidechain projects, ranking third after CORE and Bitlayer. Currently, 19 protocols are in development within the Stacks ecosystem, with StackingDAO leading in TVL. This Nakamoto upgrade is expected to enhance Stacks’ appeal to developers and users, accelerating its growth within the Bitcoin sidechain ecosystem[19].
Printr, a Multichain MEME Token Launch Platform Powered by Axelar, Set to Go Live
On October 29, Printr, a multichain launch and trading platform for MEME tokens powered by the interoperability platform Axelar, officially launched. Printr spans over 69 blockchains and aims to consolidate liquidity and address the issue of fragmented funds caused by single-chain token issuance. Alongside Axelar, Squidrouter also provides technical support for Printr.
From a market perspective, this cross-chain platform offers several benefits to the token issuance ecosystem:
According to RootData, three funding rounds were announced in the past 24 hours, with a total funding amount exceeding $14.3 million[21].
Native — Completed a $2.6 million seed funding round with participation from Nexus Mutual. Native is a global brokerage connecting traditional insurance with on-chain capital, offering both on-chain and off-chain risk products with coverage limits of up to $20 million. Its mission is to address the long-standing lack of insurance options for digital assets.
PumpBTC — Raised $10 million in seed funding, led by SevenX Ventures and Mirana. PumpBTC focuses on providing a liquidity staking solution for Bitcoin. Users can stake BTC with Babylon in one click and immediately receive liquidity tokens in return.
KRNL Labs — Secured $1.7 million in pre-seed funding from notable investors such as TRGC, Superscrypt, and Ryze Labs. KRNL Labs aims to simplify decentralized application (dApp) development through innovative RPC node technology that enables cross-chain communication. The KRNL protocol functions similarly to npm, supporting asynchronous composability, allowing developers to efficiently build dApps that can operate across multiple blockchains.
TestME is a test token introduced by the NFT platform Magic Eden to help users experience a simulation of the upcoming $ME token claim process. Although TestME itself has no monetary value, participating in the claim test allows users to familiarize themselves with the process, making it easier to receive $ME tokens during the official airdrop. The claim process takes place in Magic Eden’s mobile wallet app and incurs no fees[22].
Participation Steps:
Reference:
Gate Research
Gate Research is a comprehensive blockchain and crypto research platform that provides readers with in-depth content, including technical analysis, hot insights, market reviews, industry research, trend forecasts, and macroeconomic policy analysis.
Click the Link to learn more
Disclaimer
Investing in the cryptocurrency market involves high risk, and it is recommended that users conduct independent research and fully understand the nature of the assets and products they are purchasing before making any investment decisions. Gate.io is not responsible for any losses or damages caused by such investment decisions.