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In October 2025, the total cryptocurrency market capitalization exhibited a “rise-then-fall” pattern, reflecting weak market confidence and a stabilizing trend. Driven by the “BTCFi” narrative, Starknet saw new highs in both capital inflows and on-chain activity, with TVL rising from $170 million at the end of September to $245 million. Prediction markets heated up, with Polymarket and Kalshi recording a combined monthly trading volume exceeding $7 billion. Privacy coins made a strong comeback, with ZEC surging more than 440% for the month and leading the rally. On the funding side, the Web3 sector completed 130 deals totaling $5.12 billion, up 28.43% month-over-month, with total capital raised jumping 104.8% — the second-highest level in nearly a year — with funds primarily flowing into DeFi ($2.15 billion) and core infrastructure.

Gate Research Daily Report: On November 17, BTC remains in a short-term weak downward consolidation structure, with 92,976 USD forming a key short-term low and serving as the core defense for bulls. ETH is also in a short-term weak consolidation pattern but has shown a clear rebound signal after touching the 3,004 USD low. Ethereum spot ETFs recorded a historic third-highest weekly net outflow of 729 million USD. ZEC contract positions surpassed 1.5 billion USD, reaching a record high, with significant increases in privacy network trading activity. Meanwhile, Japan’s regulators plan to reclassify BTC, ETH, and other cryptocurrencies as financial products, potentially reducing tax rates to 20%.

On November 17, BTC remained in a short-term weak downward consolidation structure, with 92,976 USD forming a key short-term low and serving as the core defense for bulls. ETH is also in a short-term weak consolidation pattern but showed a clear rebound signal after touching the 3,004 USD low. GT, after experiencing a sharp decline and reaching a low of 10.51 USD, has gradually shifted from a downward trend to a weak consolidation and stabilization phase. In addition, RESOLV (+44.4%), LIGHT (+49.17%), and KITE (+13.59%) performed strongly, indicating that stablecoins and payment-related assets are once again becoming focal points for market capital. Ethereum spot ETFs recorded a historic third-highest weekly net outflow of 729 million USD. ZEC contract positions surpassed 1.5 billion USD, reaching a record high, with significant increases in privacy network trading activity. Meanwhile, Japanese regulators plan to reclassify BTC, ETH, and other cryptocurrencies as financial products, potentially reducing tax r

Gate Research Daily Report: Bitcoin broke its stabilization trend and saw another high-volume decline; Ethereum fell below the key $3,000 support for the first time. The migration from ai16z to ELIZAOS has been completed on major exchanges, pushing ELIZAOS up 18.00%. Dusk announced partnerships with Chainlink and the Dutch securities exchange NPEX, driving DUSK up 19.25%. The current market pullback is largely driven by rotation among long-term holders. 1inch launched its new liquidity protocol, Aqua, addressing DeFi’s long-standing liquidity fragmentation. The Canada Pension Plan Investment Board purchased $80 million worth of MSTR, reinforcing the trend of “large institutions = stable inflows.”

Last week, the government reopening failed to bring liquidity back to the market, and Bitcoin slipped below $100,000 once again. TEL skyrocketed over 100%, standing out as the top performer. Sei accelerated across funding, ecosystem development, and institutional adoption, emerging as one of the most promising layer-1 projects. Uniswap rolled out its most groundbreaking governance proposal yet, enabling protocol fees and directing the revenue toward UNI burns. Gate Connect officially launched Apple Pay for crypto sales, positioning it as the first Web3 exchange to support this feature.

Gate Research Daily Report: On November 19, the crypto market saw a mild rebound despite extreme fear in sentiment. BTC edged up 0.15% to 92,410 USDT, while ETH rose 0.29% to 3,109 USDT. Among top movers, Anoma (+50.92%) surged as its ARM virtual machine went live on Ethereum, driving discussions around intents and programmable privacy; Grass (+23.03%) gained momentum ahead of its first Token Holder Call and on the back of processing 100 million scientific papers for open-science datasets; Falcon Finance (+17.69%) rallied as USDf supply exceeded 2 billion dollars and the Perryverse NFTs were fully revealed. On-chain data shows Bitcoin whales and institutions are accumulating simultaneously, with the number of wallets holding over 1,000 BTC reaching a four-month high. Vitalik introduced the Kohaku privacy framework, advancing privacy as a first-class property on Ethereum. Meanwhile, Zama launched its fully homomorphic encryption (FHE) testnet v2, marking a major step toward its upcoming mainnet launch.

On November 19, the crypto market saw a mild rebound despite extreme fear in sentiment. BTC edged up 0.15% to 92,410 USDT, while ETH rose 0.29% to 3,109 USDT. Among top movers, Anoma (+50.92%) surged as its ARM virtual machine went live on Ethereum, driving discussions around intents and programmable privacy; Grass (+23.03%) gained momentum ahead of its first Token Holder Call and on the back of processing 100 million scientific papers for open-science datasets; Falcon Finance (+17.69%) rallied as USDf supply exceeded 2 billion dollars and the Perryverse NFTs were fully revealed. On-chain data shows Bitcoin whales and institutions are accumulating simultaneously, with the number of wallets holding over 1,000 BTC reaching a four-month high. Vitalik introduced the Kohaku privacy framework, advancing privacy as a first-class property on Ethereum. Meanwhile, Zama launched its fully homomorphic encryption (FHE) testnet v2, marking a major step toward its upcoming mainnet launch.

This report provides a comprehensive overview of the structural changes, job distribution, and development trends in the global crypto employment market in 2025. It highlights that amid slowing global economic growth and the accelerating impact of AI on traditional industries, the crypto sector has demonstrated strong counter-cyclical resilience. With a total market capitalization approaching USD 3 trillion and more than 1.6 million professionals employed worldwide, the crypto industry has become a key driver of high-skilled employment within the digital economy.

On November 20, the crypto market continued to consolidate and oscillate amid sustained extreme fear sentiment, with BTC edging up 0.43% to 92,700 USDT and ETH recovering to 3,040 USDT. Among hot tokens, Tensor (+102.63%) surged sharply due to a short squeeze triggered by extreme negative funding rates; Giga Chad (+61.29%) strengthened amid high social media buzz from whale endorsements and Walmart listing related supplements; StarkNet (+22.63%) rebounded significantly, driven by the spreading "Ztarknet" narrative and expectations of ZK infrastructure implementation. Vitalik released a key signal at Devconnect that "Ethereum needs to complete its quantum-resistant upgrade within the next four years." NVIDIA's strong earnings beat expectations, propelling a U.S. stock rebound and short-term crypto market repair. Meanwhile, a $1 billion ETH DAT trust plan led by Asian capital has been temporarily shelved due to fundraising resistance and market volatility.

Gate Research Weekly Report: BTC and ETH remained in high-level consolidation, while stablecoin market capitalization stood at $311.00 billion and Ethereum gas fees stayed at low levels. PRL, DAO, and L3 led gains, as X’s payments push and AI Agent narratives continued to gain traction. In the next seven days, SUI, GUN, JUP, and EIGEN will unlock tokens worth about $41.59 million, $9.59 million, $8.28 million, and $7.33 million, respectively.

Gate Options Daily Market Update.

Gate Research: This paper focuses on the practical need for trade review in the crypto market. Based on the OpenClaw framework and Gate MCP capabilities, it develops an AI investment advisory system that automates the entire process from data ingestion and metric analysis to report generation. By introducing an agent-based architecture and modular tool invocation, the system enables AI not only to understand trading data but also to perform analysis and support decision-making, producing review reports that are both interpretable and actionable. Overall, this approach validates the potential of the “LLM + MCP + Agent” paradigm in financial scenarios, offering a feasible path for the engineering implementation of AI-driven investment assistance and laying the foundation for future evolution toward more intelligent and quantitatively driven decision systems.

Gate Research Daily Report: BTC is showing a pattern of “attempted recovery within a weak consolidation, with momentum yet to stabilize.” ETH remains in a “weak recovery without a confirmed reversal,” with further upside requiring volume expansion. NKN, XNY, and POOL surged sharply against the broader weak market, mainly driven by catalysts such as mainnet upgrades, strengthened AI narratives, and optimized protocol incentives. The White House has approved a review of a proposal to include crypto in 401(k) retirement plans; meanwhile, the largest options expiry of Q1 2026 takes place today, with nearly 40% of contracts set to expire. Institutional investors sold $11 billion in U.S. equities last week, marking the largest weekly sell-off in the past five weeks.

Gate Research VIP Report: BTC is showing a pattern of “attempted recovery within a weak consolidation, with momentum yet to stabilize.” ETH remains in a “weak recovery without a confirmed reversal,” with further upside requiring volume expansion. NKN, XNY, and POOL surged sharply against the broader weak market, mainly driven by catalysts such as mainnet upgrades, strengthened AI narratives, and optimized protocol incentives. The White House has approved a review of a proposal to include crypto in 401(k) retirement plans; meanwhile, the largest options expiry of Q1 2026 takes place today, with nearly 40% of contracts set to expire. Institutional investors sold $11 billion in U.S. equities last week, marking the largest weekly sell-off in the past five weeks.

Gate Research Daily Report: On November 14, after a period of volatile decline, BTC found short-term support near $98,000; ETH showed signs of a short-term rebound; GT stabilized with support around $10.9 and began to recover; while LUMINT became the market spotlight with a surge of over 670%. The first XRP spot ETF, launched by Canary Capital, began trading on Nasdaq; the Czech National Bank made its first-ever Bitcoin purchase, establishing a $1 million digital asset pilot portfolio; and Emory University doubled its Bitcoin holdings, investing $52 million to increase its stake in the Grayscale BTC ETF.