Gate Research Institute: Visa launches stablecoin payment pilot｜Ethereum validators drop back to April 2024 levels

Encryption Assets Overview

BTC (-0.86% | Current Price 102,106 USDT)

Bitcoin is currently trading around $102,000, attempting to rebound after recent fluctuations. The price previously found support in the major demand zone near $100,000, but after encountering significant resistance in the $105,000 area, it fell back to around $101,000. Although there are signs of recovery in buying, the overall market structure indicates that if trading volume does not significantly increase, this rebound may only be a temporary correction. On the technical side, the range of $106,000 to $110,000 has turned into a key supply zone; if buyers can break through and hold above $110,000, the target will shift to $114,000. Conversely, if stability is not achieved, this rebound may come to an end, and the price could retest the $100,000 mark. From a macro perspective, interbank funding rates remain stable, and the risk of government shutdown has been alleviated, which is expected to boost market risk appetite, providing support for Bitcoin and mainstream encryption assets.

ETH (+0.50% | Current Price 3,434.42 USDT)

Ethereum has once again fallen back to test key support levels after failing to maintain upward momentum above $3,600. The current market structure indicates that the recent rebound may only be a short-term correction within a larger consolidation phase, and caution is warranted until the structure stabilizes. From the daily chart, the ETH price continues to operate within a descending Bollinger Band channel, repeatedly constrained by the upper and middle bands, reflecting the dominant downtrend structure. The price has not been able to solidify above the resistance zone of $3,600–$3,700, and when testing the lower band of the channel and the 200-day moving average (around $3,300), selling pressure has reemerged. Currently, this range has become a core battleground for bulls and bears. If Ethereum's closing price falls below the 200-day moving average, it may trigger further pullbacks, targeting the main demand zone of $3,000–$3,100, which has strong buying support. Conversely, if the price successfully returns to and stabilizes at $3,600, it will likely confirm a bullish recovery structure, opening up upward potential to the range of $3,900–$4,000.

GT (-0.08% | Current Price 11.81 USDT)

After experiencing three days of consolidation, GT attempted to rebound again on the 13th and tested the resistance level near $11.8. Currently, GT is closing at $11.81, with the price surpassing the MA5, MA10, and MA30 hourly moving averages, indicating that short-term momentum is warming up. From a daily perspective, the MACD histogram has turned positive from negative and a golden cross signal has appeared, while the RSI has risen from the oversold zone to 31, still having room for further upward movement. Overall, GT has entered a consolidation phase after consecutive declines, with signs of stabilizing in the short-term trend, but the $12.2 area remains a key resistance level. If it can effectively break through this range, it is expected to open up new rebound space.

Daily Price Fluctuation Tokens

In the past 24 hours, the overall performance of the encryption market has been mixed. Bitcoin fell by 0.83%, dragging down market sentiment, while Ethereum rose against the trend by 0.56%, showing relative stability. Some mainstream altcoins such as XRP (+1.27%) and DOGE (+0.07%) saw slight gains, but others like SOL recorded declines, indicating structural rotation of market funds. As most assets enter a short-term adjustment phase, BEAT, SUBHUB, and PARTI tokens have performed well, and the reasons for the rise of each token will be analyzed one by one below.

BEAT Audiera (+139.25%, circulating market cap 5,232.66 million USD)

According to Gate market data, the current price of the BEAT token is $0.36314, with a 139.25% increase in the last 24 hours. Audiera is the Web3 version of the globally popular music and dance game IP Audition, with over 600 million users worldwide. The project combines artificial intelligence and blockchain technology to create an immersive, creativity-driven interactive experience. Users can interact with AI idols, create music, and mint it as NFTs, while also participating in full-body immersive games through smart fitness mats. Its ecosystem includes mobile games, mini-applications, and AI-driven creative studios.

Recently, the BEAT price has rebounded strongly, mainly driven by favorable news of its listing on exchanges. On November 12, a mainstream CEX launched BEAT perpetual contracts, supporting up to 50 times leverage and copy trading. On the day of the official announcement, BEAT's 24-hour trading volume surpassed 1.1 billion dollars. Against the backdrop of a roughly 7% decline in global cryptocurrency trading volume over 24 hours, the launch of this derivative attracted a large amount of short-term speculative funds, bringing significant liquidity and price volatility. Although market enthusiasm has clearly increased, high leverage also amplifies volatility risks, and investors should remain cautious.

SUBHUB SubHub (+76.04%, circulating market cap $618,200)

According to Gate.io market data, the SUBHUB token is currently priced at $0.007429, with an increase of approximately 76.04% in the last 24 hours. SubHub is a blockchain-based Web3 subscription platform that enables creators to achieve decentralized content subscriptions and revenue distribution through encryption payments and smart contracts.

The price of SUBHUB has risen mainly due to product updates: The SubHub team recently announced the integration of the RSS subscription feature, enabling direct distribution of Web3 content, and emphasized its “decentralized influence” platform on November 7. These updates make SUBHUB a tool for creators to bypass centralized platforms. Empowering creators and promoting the decentralization concept of Web3 aligns with the core spirit of the encryption industry, attracting speculative funds.

PARTI Particle Network (+46.14%, Circulating Market Cap 23.5679 million USD)

According to Gate market data, the PARTI token is currently priced at $0.10119, up approximately 46.14% in the last 24 hours. Particle Network is a leading chain abstraction infrastructure in Web3. Its core technology, Universal Accounts, addresses the fragmentation of users, data, and liquidity across multiple chains, providing users with a universal account and balance across all chains.

The main factor for the increase in PARTI is the technical momentum. The current price has broken through the 23.6% Fibonacci retracement level (0.2475 USD), with trading volume surging by 307%. The 7-day RSI has reached 80.79, indicating an overbought condition, while the MACD histogram has turned positive for the first time since May 2025. If the price can hold above the 20-day MA (0.20 USD support zone), the upward momentum may continue.

Hotspot Interpretation

Visa launches a stablecoin payment pilot, supporting direct payments in USDC.

Global payment giant Visa announced a pilot project to be launched at the Web Summit in Europe in November 2025: allowing businesses to directly issue USD-pegged stablecoins (such as USD Coin, USDC) to content creators, freelancers, and gig economy workers through its Visa Direct platform, while businesses will still fund this in fiat currency. Recipients only need to have a compatible wallet and complete KYC/AML to receive the funds. It is reported that this pilot is a further expansion of Visa's stablecoin program. In September this year, Visa conducted a “stablecoin pre-funding” pilot, allowing businesses to fund Visa Direct accounts using stablecoins, and this is the first time supporting end users to receive payments directly in stablecoins. Visa plans to expand its promotion in the second half of 2026.

Visa, as a traditional payment giant, incorporating stablecoins as a means of payment into its network is a significant signal of the integration of traditional finance with the flow of blockchain value. It may drive the rapid adoption of on-chain settlement models in content creator platforms, the gig economy, and cross-border labor payments. Chris Newkirk, President of Visa's Business and Fund Flow Solutions, stated: “The launch of stablecoin payments means truly achieving 'funds credited within minutes', allowing global users to quickly and securely receive income.” In areas with weak banking systems or high currency volatility, USDC payments provide users with a faster and more stable way to access funds, potentially changing the wage settlement structure in these markets. Moreover, while stablecoins were previously used more in trading or DeFi fields, their direct use in mainstream payment platforms for labor/creator settlements marks a transition towards a “mainstream payment infrastructure.”

VCI Global plans to invest 100 million dollars to acquire tokens OOB from the Tether-supported encryption payment company Oobit.

VCI Global Limited, a technology consulting company in Malaysia, announced that it is collaborating with Oobit (a Tether-supported encryption payment platform) and plans to invest a total of $100 million to acquire its native token OOB. Upon completion of the transaction, Tether, as one of the largest shareholders of Oobit, is expected to become the largest shareholder of VCI Global. The OOB token will be used in Oobit's encryption payment ecosystem, including scenarios such as “peer-to-peer payments + merchant POS settlement + cross-chain and low-cost remittances + reward incentives.” At the same time, the OOB token will migrate from Ethereum to Solana to enhance transaction speed and scalability.

From an industry perspective, this transaction highlights the deep integration that is taking place between payment infrastructure and the encryption token ecosystem. Tether, as a major stablecoin issuer, is further expanding from stablecoin issuance into crypto payments, token economics, and the construction of digital asset ecosystems through its layout in Oobit. This could bring new growth points for crypto payments in the expansion of traditional finance, cross-border remittances, and merchant settlement. Furthermore, for the token market and investors, VCI Global's inclusion of OOB in its “digital asset treasury” and its role as the financial manager of the OOB Foundation not only provides strong capital backing for OOB but also signifies that the token may take on broader ecological applications and value-bearing in the future.

The number of Ethereum validators has fallen back to April 2024 levels, with the waiting time for validators to exit the queue reaching a new high.

The number of Ethereum validators has fallen back to levels seen in April 2024, with a continuous decline in daily active validators, decreasing by about 10% since July. This marks the first significant drop of this scale since Ethereum's transition to Proof-of-Stake. On the other hand, the waiting time for validators to exit the queue has reached a new high.

This phenomenon indicates that the Ethereum network may currently be experiencing a transition from the “expansion” phase to the “consolidation” phase. From a network security perspective, although the exit mechanism is designed to prevent a large number of validators from exiting simultaneously and affecting consensus, a decline in the number of active validators and extended exit waiting times may also weaken network participation and decentralization. In the long run, this could have a negative impact on the stability of Ethereum and ecological confidence. Furthermore, the increase in validator exits may reflect that some node operators are choosing to withdraw due to declining earnings, rising costs, or the need for protocol optimization, which suggests that the staking ecology may face challenges of yield compression and changes in participant structure.

<br> Reference Material:

• Gate, https://www.gate.com/trade/BTC_USDT
• Farside Investors, https://farside.co.uk/btc/
• Gate, https://www.gate.com/trade/ETH_USDT
• Gate, https://www.gate.com/crypto-market-data
• Coingecoko, https://www.coingecko.com/en/cryptocurrency-heatmap
• Theblock, https://www.theblock.co/post/378441/visa-stablecoin-payouts-usdc-creators-pilot
• Theblock, https://www.theblock.co/post/378485/vci-global-oob-token-tether
• X, https://x.com/DefiantNews/status/1988328801991053430

<br> Gate Research Institute is a comprehensive blockchain and encryption research platform that provides readers with in-depth content, including technical analysis, trending insights, market reviews, industry research, trend forecasts, and macroeconomic policy analysis.

Disclaimer Investing in the cryptocurrency market involves high risks. Users are advised to conduct independent research and fully understand the nature of the assets and products purchased before making any investment decisions. Gate is not responsible for any losses or damages arising from such investment decisions.