Crypto Daily Market Report : Key News, Trends, and Insights in Cryptocurrency & Blockchain

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Market Panic Eases; Crypto Assets Rebound Alongside U.S. Equities

Summary

Macro Environment: The U.S. ISM Services Index and ADP employment data both exceeded expectations, easing investor concerns about an economic recession. In addition, Trump’s statement that the “stock market will reach new highs” boosted sentiment, sending all three major U.S. stock indexes sharply higher.
Crypto Market: The crypto market remains heavily macro-driven, with Bitcoin mirroring the equity rebound and closing up 2.37%. Bitcoin’s market dominance fell 0.34% week-on-week, while altcoins rose broadly in line with the overall market.
Project Updates:
- Trending Tokens: GIGGLE, ZK, XPL
- GIGGLE: After confirming that 50% of Giggle trading fees received from Binance will be burned, GIGGLE surged 130% in a single day. Fueled by GIGGLE’s momentum, BSC ecosystem tokens such as Binance Life, 4, and FORM also saw broad gains.
- Trump-Themed Tokens: Trump praised cryptocurrencies, saying they help reduce pressure on the U.S. dollar. Tokens linked to his ecosystem—TRUMP, MELANIA, WLFI, and others—rose collectively.
- WLFI: Announced the acquisition of “Meme Coin 1” as a strategic reserve.
- ZK: ZKsync’s founder proposed a ZK token update under which all network revenue will be used to buy back and burn ZK tokens.
- LINEA: Officially launched its burn mechanism; gas fees will now burn ETH and LINEA at a 1:4 ratio.

Crypto Fear & Greed Index: 27 (up from 23 24 hours ago) — Fear

Outlook for Today

Bank of England to announce latest interest rate decision
U.S. initial jobless claims for the week ending November 1
Tesla holds annual shareholders’ meeting
Heroes of Mavia (MAVIA) unlocks ~11.89 million tokens worth about $1.2 million

Macro Economy

U.S. October ADP employment up 42,000 — above expectations
U.S. October ISM Services PMI at 52.4 (expected 50.8, previous 50)
Trump: “Government shutdown is affecting the market, but stocks will reach new highs.”
Barclays: If repo rates remain elevated, the Fed may need to intervene.
China’s Tariff Commission: Suspends additional tariffs on certain U.S.-origin goods.

Policy Trends

Canada to introduce stablecoin regulatory framework in its 2025 federal budget
Bank of England pledges to align stablecoin oversight with U.S. regulatory progress
Thailand’s finance minister to tighten regulation of crypto, gold, forex, and cash transactions

Trump praises crypto, saying it reduces pressure on the U.S. dollar
Grayscale waives management fees for its Solana ETF until AUM reaches $1 billion
Metaplanet pledges Bitcoin holdings to raise $100 million for additional BTC purchases and yield expansion
Total crypto lending volume in Q3 reached $73.6 billion — a record high
Monad announces TGE on November 24

Trump's shift in attitude towards cryptocurrency marks a transition from early skepticism to a position of support. He argues that digital assets like Bitcoin create jobs and help to relieve the pressure on the U.S. dollar as the world's primary reserve currency by offering an alternative store of value and medium of exchange. He has even hinted at establishing a "Crypto Reserve of America." This stance is significant for the entire crypto industry as it signals that digital assets are gradually gaining acceptance at the highest levels of U.S. politics, potentially foreshadowing a more favorable future regulatory environment.
- Further reports indicate that the Trump administration previously pardoned certain key figures in the crypto industry and advocated for establishing a "crypto strategic reserve" encompassing various cryptocurrencies.

Grayscale waives management fees for its Solana ETF until AUM reaches $1 billion

Grayscale Investments has announced a waiver of its sponsor fees (i.e., management fees) for its Grayscale Solana Trust ETF (GSOL), for a maximum period of three months or until the fund’s Assets Under Management (AUM) reaches $1 billion, whichever comes first. This move is intended to attract new investors and rapidly scale the fund's size, allowing it to gain an edge in the competitive digital asset Exchange Traded Product (ETP) market.
- Additionally, GSOL currently stakes up to 100% of its Solana (SOL) holdings, offering investors a staking reward yield of approximately 7.23%. The fee waiver, combined with the high staking rewards, makes GSOL highly attractive to institutional and retail investors seeking exposure to Solana.

Metaplanet pledges Bitcoin holdings to raise $100 million for additional BTC purchases and yield expansion

The Japanese-listed technology company Metaplanet has adopted a Bitcoin strategy similar to MicroStrategy, converting a large portion of its reserve assets into Bitcoin. To further expand its Bitcoin holdings and yield strategies, the company has decided to stake or pledge part of its Bitcoin assets to raise $100 million in capital. This method of financing with Bitcoin as collateral is a common strategy for corporations to acquire funds for further investment or operations without directly selling their core asset, demonstrating the company's strong belief in the long-term value of Bitcoin.
- Metaplanet has previously used methods like issuing zero-coupon bonds to aggressively acquire Bitcoin, making it one of the largest corporate holders of Bitcoin globally.

This data indicates a robust recovery and growth in the crypto lending market during the third quarter, with the total lending volume hitting a record high of $73.6 billion. This figure typically includes the combined loan volume from both Centralized Finance (CeFi) and Decentralized Finance (DeFi) platforms.
- Driving factors likely include the restoration of market confidence, increased institutional demand for crypto-backed loans (e.g., getting fiat currency without selling Bitcoin), and expanding yield opportunities within DeFi protocols. This record reflects the continuously improving liquidity and acceptance of crypto assets as collateral.

Monad, a highly anticipated Layer 1 blockchain project, has announced its Token Generation Event (TGE) and mainnet launch will take place on November 24. Monad aims to build a high-performance network that is Ethereum Virtual Machine (EVM)-compatible, targeting the speed and throughput comparable to Solana while retaining the decentralization and security advantages of Ethereum.
- The TGE is often accompanied by an airdrop to the community and early supporters. Monad's launch has garnered significant attention due to its innovative parallel execution design, which is considered one of the most anticipated events in the crypto industry this year.