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## Weekly Trend Overview
The overall trend of the <a  rel="nofollow noopener noreferrer"  href="/price" target="_blank" class="blog_inner_link">crypto market</a> this week is relatively favorable, which can be called a money picking market. The <a  rel="nofollow noopener noreferrer"  href="/price" target="_blank" class="blog_inner_link">crypto market</a> continues the general upward trend of last week, and most mainstream cryptocurrencies have seen varying degrees of price increases. Due to many retail crypto users returning to the market, the overall liquidity and popularity of the crypto market are high, and the DeFi revival trend is coming. The mainstream sentiment in the market is relatively optimistic. BTC prices hit a historic high, breaking above $93,000, and most other mainstream coins have also risen. The BTC market share has dropped to around 59%, and the price has reached a historical high of around $93,135. Overall, the prices of key mainstream coins have been fluctuating in a continuous upward trend this week, and there is expected to be further increases in the future. However, BTC is likely to be approaching the price ceiling of the current cycle, and the overall market will also experience a suitable correction in the future. The market sentiment is around 85, and there are expected to be new market changes during the weekend closing period. The overall market cap of the crypto market has increased significantly compared to the same period last week, reaching around $2.96 trillion, a decrease of 1.71% within 24 hours.

Compared to last week, the overall performance of the crypto market continued to rise, with BTC driving the overall market to a continuous rebound after the US Grand Select, with a weekly increase of over 17%. The weekly price increase of ETH is relatively small, at around 9.6%, and currently remains around $3,140.

The overall performance of the crypto market this week has become clearer compared to the past, with most coins still experiencing a rapid upward trend due to the overall rise in the market. PNUT's 7-day increase reached around 1384%, with the largest price increase currently around $1.73, indicating a downward price trend.

The probability of the overall crypto market continuing to rise this weekend is relatively small, and a slight correction is expected.

## Crypto Market
🔥 According to SoSoValue data, the net inflow of US dollars into the crypto market last week (November 4th to November 10th) reached $6.283 billion.

🔥 According to the latest data from Shibburn, the official destruction tracking platform of <a  rel="nofollow noopener noreferrer"  href="/price/shiba-inu-shib" target="_blank" class="blog_inner_link">Shiba Inu</a>, the SHIB destruction rate surged to 1,837.49% this week.

🔥 According to data disclosed by <a  rel="nofollow noopener noreferrer"  href="/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a> Floor, the total market cap of Meme coins on <a  rel="nofollow noopener noreferrer"  href="/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a> has exceeded $15 billion, reaching a historic high.

🔥 According to CoinDesk, ENS Labs, the parent company of <a  rel="nofollow noopener noreferrer"  href="/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> Domain Name Service (ENS), plans to launch its own L2 network Namechain, which is expected to go live around the end of 2025.

🔥a16z Crypto Policy director Brian Quintenz, regulatory director Michele Korver, and general counsel Miles Jennings have jointly written and published a new article aimed at conveying a message to the founders of crypto projects: "When it comes to regulation, it can finally be relaxed." The article puts forward optimistic expectations for the new government to relax regulation and governance of the crypto industry, although it states that the "vast majority" of speculation about the details of this system at present is just noise.

🔥 According to SoSoValue data, the <a  rel="nofollow noopener noreferrer"  href="/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> spot ETF had a net inflow of $154 million last week from November 4 to November 8 Eastern Time.

🔥 Ethereum developer Paul Berg proposed a native token-related proposal, EIP-7809, which proposes to implement alternative tokens with similar native properties in EVM in a backward-compatible manner.

🔥Ethena Founder Guy Young posted that in the current market situation, bulls must pay a daily funding fee of $66 million.

🔥Polymarket According to the prediction of the "highest price of <a  rel="nofollow noopener noreferrer"  href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> this month," the probability of <a  rel="nofollow noopener noreferrer"  href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> reaching $105,000 this month is 36%, and the probability of reaching $95,000 is 73%.

🔥ether Announced the launch of WDK (Wallet Development Kit by <a  rel="nofollow noopener noreferrer"  href="/price/tether-usdt" target="_blank" class="blog_inner_link">Tether</a>), an open-source, modular, and un-custodial wallet development toolkit. WDK aims to help businesses and developers seamlessly integrate USDT and Bitcoin into applications, websites, and devices, with full self-custodial support, flexible design, and strong adaptability.

🔥 According to company smartcap data, the market cap of Bitcoin has risen to $1.769 trillion, surpassing silver ($1.732 trillion) and ranking as the 8th largest asset in the world by market cap.

🔥 According to ai_9684xtpa monitoring, ETH has been in an inflationary state since mid-April, with approximately 350,000 ETH issued in six months.

🔥Cardano Founder Charles Hoskinson hinted at a possible collaboration with Ripple in an article on X. Hoskinson praised Ripple CEO Brad Garlinghouse, calling him a "great CEO" and describing their interaction as "highly collaborative."

🔥 According to TradingView data, the combined supply of USDT and USDC has increased by over $5 billion in the week since November 5.

🔥 The funding rate of Ethereum has soared to 6.1% per month, reaching its highest level in eight months.

🔥 McDonald's revealed in a post on X that it will collaborate with NFT project Doodles, but the specific details have not been announced yet, implying that more information will be disclosed on November 18.

🔥 According to TheBlock, PayPal USD stablecoin now enables transfers between Ethereum and Solana through LayerZero. PayPal stated that this integration aims to eliminate liquidity dispersion and ensure that users and businesses can transact quickly, securely, and cost-efficiently.

🔥 According to Trader T monitoring, the trading volume of BlackRock IBIT reached $3.856 billion throughout the day, making it one of the top 5 ETFs with the highest trading volume yesterday. Among them, 45% were active buy orders and 39% were active sell orders.

🔥 According to Cointelegraph, the liquidator of the bankrupt crypto hedge fund Three Arrows Capital is attempting to modify its claim against FTX, increasing its claim amount from $120 million to $1.53 billion.

🔥GMT The team recently launched the BurnGMT.com website, where users can vote to burn off over 600 million GMTs held by advisors, investors, and even the team.

🔥Solana MEV The infrastructure protocol Jito experienced a brief outage last night, resulting in a significant increase in Solana chain priority fees. Jito Labs' official X account posted on November 13 at 22:37 Beijing time, stating, "We are currently experiencing a system-wide outage. The team is working hard to fix the issue and will follow up after it is resolved." The problem was resolved in about an hour, but the root cause is currently unclear.

🔥Etherscan Data shows that the supply of stablecoin USDe issued by Ethena Labs has returned to over 3 billion. The reason for the rebound in USDe supply can be attributed to the soaring funding rates in the contract market.

🔥 According to Trader T monitoring, the trading volume of BlackRock IBIT reached a record high of $5.37 billion throughout the day, making it the fourth highest-trading ETF yesterday. 45% of the trading volume was active buy orders, and 43% was active sell orders.

## Regulatory & Macro Policies
🔥 Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered Bank, believes that many of Trump's promises to support cryptocurrencies will drive Bitcoin up. He expects Trump to overturn Biden's veto of SAB121, a controversial U.S. Securities and Exchange Commission (SEC) accounting guideline that critics say prevents investment banks from providing large-scale crypto custody services.

🔥 According to The New York Times, the Federal Bureau of Investigation (FBI) searched the home of the founder of the Polymarket gambling website. This autumn, Polymarket gained fame for providing odds on the US presidential election.

🔥 According to relevant page information, the official X account of the Department of Government Efficiency (DOGE), led by Musk and Vivek Ramaswamy, has been launched. It is worth noting that this account's handle is "@DOGE."

## Crypto Market Highlights  
⭐️Last week, the crypto market showed a continuous upward trend, mainly influenced by the rapid inflow of external funds. There has been a rapid upward trend in the past week. Currently, as the weekend closing period approaches, the market is not showing any signs of fatigue, but it is expected to experience a certain degree of correction in the future.

⭐️There are many mainstream coins that have seen significant price increases in the market, and with the overall rise of the market, the top-growing coins have seen a significant price increase. However, as a newly launched coin, PNUT has experienced a significant increase in price since its launch, with a seven-day increase of around 1,360%. Currently, there is a downward trend in the short term. The coin price is currently maintained at around $1.7 and is expected to experience further price changes later this week, but there is a high probability of a slight price increase during the closing period
![](https://gimg2.gateimg.com/image/article/17316450191.jpeg)
(Data Courtesy Of coinmarketcap)

## BTC & ETH Weekly Performance
### Bitcoin (BTC)
![](https://gimg2.gateimg.com/image/article/17316450382.jpeg)
(Data Courtesy Of TradingView)

The continuous upward trend of the <a  rel="nofollow noopener noreferrer"  href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">BTC price</a> is very obvious. It fluctuates from around $76,500 and breaks through multiple price highs. BTC has hit multiple historical highs, with a high probability of breaking through $95,000 in the future. The high point of BTC's weekly price is around $93,500, while the low point is around $76,500 during the opening session of the week.

Analysis suggests that the price change of BTC is mainly due to the recent large net inflow of external funds in the market, coupled with the overall bullish outlook of the crypto market, which has led to a clear continuous rise in BTC prices and driven the overall market to rise together.

### Ethereum (ETH)
![](https://gimg2.gateimg.com/image/article/17316450943.jpeg)
(Data Courtesy Of TradingView)

ETH's price trend is relatively small compared to BTC, and it mostly follows the overall market trend. Currently, ETH has shown a clear downward trend in price in the short term. ETH spot ETFs have performed better than before, and the current price remains around $3,100. ETH's weekly increase is around 7.55%. The coin is in a correction phase, and it is expected that there will be more significant price changes over the weekend.

## Web3 Project Trend
The total market cap of all seven types of projects rose across the board, continuing the continuous upward trend of last week. A rapid rise mainly characterizes the overall market performance, and there is a downward trend in the market as it approaches the weekend closing period. It is expected that there is a high probability of further upward movement during the weekend period.

| Project Category  | 7d Change | Top 3 Gainers  | Comment  |
| ------------ | ------------ | ------------ | ------------ |
| Layer 1 | 15.9% | OM,WATER,OZO | The Layer 1 track increased, with the top-rising coins having a relatively even distribution of gains but mainly consisting of coins with relatively small market capitalization.|
| Layer 2  | 6.0%  |GMRX,UNIT0,1CAT|The performance of the Layer 2 sector is mainly characterized by a slight increase, with relatively limited gains for top-growing coins, but it is more significantly affected by the sustained upward trend of the market.|
| DeFi  | 7.9%  | XSTUSD,PROS,PPAY | The DeFi track showed a significant increase, but overall growth is more concentrated, with strong bullish sentiment among top projects and further increased liquidity.|
| NFT  | 8.5% | BWO,DEP,AVXT |The NFT market saw a certain increase in total value, with the top-rising coins mainly focused on emerging projects.|
| MEME  | 67.1%  | LEPER,JAM,BERT| The MEME coin market saw a significant increase, with prices of top emerging MEME coins rising significantly due to the overall market conditions.|
| Liquid Staking | 15.2% | AFSUI,HBARX,BRG | This sector follows the trend of top mainstream coins, and due to the overall market rise, the actual increase is significant, but more concentrated in the SUI token related categories.|
| AI  | 8.6%  | PAAL,WMM,$INSORA | The AI track rose, but it is more influenced by the overall market rise, and the actual increase in the overall market cap of the track is relatively small.|



<div class="blog-details-info">
<div>Author:**Charles T.**, Gate.io Researcher
<div>Translator:Joy Z.
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions. All investments carry inherent risks; prudent decision-making is essential.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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Weekly Web3 Research | Total Market Cap of Meme Coin on Solana Reached a Historic High; Supply of stablecoins increased by approximately $5.4B After the US election