Gate Research Institute: Storage and Privacy zone strongly pump｜Gate launches Decentralization Web3 Launchpad

Encryption Asset Panorama

BTC ( -1.35% | Current price 101,532 USDT)

Bitcoin is still in a weak fluctuation pattern in the short term, with prices consolidating in a narrow range around $101,500. The short-term moving averages (MA5, MA10) continue to converge and are slightly below the long-term moving average (MA30), indicating that the market still lacks a clear direction, and bearish pressure remains. After experiencing a continuous decline from the $110,000 level, BTC has found support several times in the $99,000–$100,000 range, forming signs of a temporary bottom. However, the rebound momentum is weak, and the $102,500–$103,000 area above has become a key resistance level. If the price can break through and hold above the MA30 moving average (around $102,500), it is expected to open up further rebound space; conversely, if it falls below the $100,000 support, it may test the previous low of $98,950 again.

In terms of trading volume, the current overall volume is relatively low, indicating that the market's wait-and-see sentiment remains strong, and short-term fluctuations may continue to be constrained. Overall, Bitcoin is maintaining a consolidation trend in the short term, with attention needed on the $100,000 support and $102,500 resistance. If the resistance level is broken with increased volume, it can be seen as a signal of a phase rebound; if the support is broken, the market may return to a weak range.

Additionally, on November 6, the single-day net inflow for BTC ETF reached 239 million USD, with BlackRock's IBIT inflow at 112 million USD and Fidelity's FBTC inflow at 61.6 million USD.

ETH ( -2.63% | Current Price 3,310 USDT)

Ethereum has recently continued its downward trend, with the price currently consolidating around $3,310. The short-term moving averages (MA5, MA10) remain below the long-term moving average (MA30), indicating a clear bearish arrangement structure, suggesting that the short-term is still in a weak phase. From the trend structure perspective, ETH has faced pressure and retreated after multiple rebounds to the $3,350–$3,400 range, indicating heavy selling pressure above and insufficient buying momentum in the market; the support area is located between $3,250–$3,200, and if it loses this range, it may further test the previous low near $3,060.

In terms of trading volume, there has been a significant decline in recent days, indicating an increase in market wait-and-see sentiment. If there is a subsequent breakout with increased volume above the MA30 moving average (around $3,360), it may signal a short-term rebound; conversely, if the volume continues to be sluggish, the price may continue to maintain a weak oscillating pattern.

Overall, the short-term trend is bearish, and it is recommended to pay attention to the support level at $3,250 and the resistance zone at $3,400. If the price breaks through and stays above the MA30, it can be seen as a signal of temporary stabilization; if it falls below $3,250, it may further explore the range of $3,100–$3,050.

In addition, on November 6, the single-day net inflow for the ETH ETF was $12.5 million, with BlackRock's ETHA inflow at $8 million and Fidelity's FETH inflow at $4.9 million.

GT（ -2.26% 丨 Current Price 11.63 USDT）

GT has recently shown a clear oscillating bottoming trend. Previously, the price fell from a high of 13.7 dollars to a low of 10.56 dollars, and then found support in that range, leading to a phase of rebound. Currently, the price is at 11.63 dollars, which is a certain recovery from the low.

The short-term moving averages (MA5, MA10) have crossed upwards at a low position, indicating that short-term buying interest is gradually recovering. However, the medium-term moving average (MA30) is still slightly tilted downwards, suggesting that the overall trend has not yet completely reversed. If the price can consistently stay above MA30 (around $11.70) and break through with significant volume, it is expected to confirm a phase reversal signal, with the first resistance range above at $12.1–$12.3; conversely, if it encounters resistance and falls below $11.3, it may continue to fluctuate within the range.

Overall, GT shows a strong short-term recovery, with signs of fund stabilization; however, a trend reversal still requires further volume support and continuity confirmation. It is advisable to pay attention to the breakthrough direction of the support at 11.3 dollars and the resistance at 11.7 dollars in the short term.

Daily Price Change Tokens

In the past 24 hours, the encryption market has been under pressure overall, showing a clear “red dominant” pattern. Mainstream assets have generally retraced, with BTC down 1.71%, ETH down 2.59%, and SOL (-2.81%) and XRP (-5.36%) experiencing deeper declines, indicating a decrease in market risk appetite and a more cautious sentiment. Funds are mostly in a defensive and wait-and-see state, and mainstream coins have not yet shown clear signs of rebound.

At the same time, some hot sectors are performing strongly against the trend, with SAPIEN (+186.47%), FIL (+50.87%), and DUSK (+43.27%) standing out. The AI, storage, and privacy sectors have become new focal points for market capital.

SAPIEN Sapien (+186.47%, Circulating Market Cap 86.445 Million USD)

According to Gate.io market data, the current price of the SAPIEN token is $0.342, an increase of approximately 186.47% in the last 24 hours. Sapien is an open protocol for the large-scale acquisition of verified human knowledge, utilizing human contributors to create high-quality AI training data to meet the needs of professional datasets. The SAPIEN token supports staking, rewards, and governance.

The recent rise of SAPIEN is mainly stimulated by the launch of new exchanges and the simultaneous initiation of the “holder airdrop” activity, which has attracted a large amount of trading and capital inflow in the short term, driving the price to rise rapidly. However, it is important to note that as the enthusiasm for airdrops wanes and profit-taking occurs, market sentiment quickly turns cold, and the token faces obvious selling pressure and liquidation risks.

FIL Filecoin (+50.87%, circulating market cap 1.464 billion USD)

According to Gate market data, the current price of the FIL token is $2.085, with a rise of approximately 50.87% in the last 24 hours. Filecoin is a decentralized storage network and marketplace built on the InterPlanetary File System (IPFS), incentivizing users to share and retrieve data through its native token FIL. It turns unused hard drive space into a global market, allowing anyone to offer or use storage services. The FIL token is used to pay for storage fees, reward miners, and participate in network governance.

FIL has surged strongly, mainly driven by multiple positive factors. Firstly, Filecoin announced an upcoming upgrade to v1.5.0, where the FIP-0010 proposal significantly reduces Gas costs through off-chain verification, seen as a key breakthrough to enhance network efficiency, with the market preemptively reflecting positive expectations; the data structure optimization of FIP-0007 further boosts investor confidence. Meanwhile, the Filecoin Virtual Machine (FVM) ecosystem continues to expand, with a notable increase in the number of smart contracts and TVL, leading to heightened ecosystem activity. Recently, Filecoin has established strategic partnerships with exchanges, Meta Media, and other institutions to promote the implementation of commercial projects and enhance liquidity. On-chain data shows that both large holders and retail investors are actively increasing their holdings, with significant net capital inflow. The resonance of multiple fundamental and capital positive factors has enabled FIL's price to break through key resistance levels, forming upward momentum.

DUSK Dusk Network (+43.27%, circulating market cap 39.03 million USD)

According to Gate market data, the current price of DUSK token is $0.077, having increased by approximately 43.27% in the last 24 hours. Dusk Network is a first-layer blockchain protocol designed to provide privacy protection for financial applications. It allows enterprises to use confidential smart contracts for tokenization, trading, and collaboration, focusing on meeting the needs of the financial market. Its core features include the use of a private Byzantine Agreement (SBA) consensus algorithm, zero-knowledge proof-based Private Proof of Stake (Private PoS), scalability, fast transactions, and anonymity.

The recent rise of DUSK is mainly driven by the recovery of the privacy track and positive fundamentals. Its price has broken through a long-term downward trend line that lasted for 8 months and has successfully turned the 100-day EMA (0.0739 USD) into a new support level. On the fundamental side, Dusk has obtained permission through NPEX and completed integration with custodial banks, marking a key step in promoting the tokenization of real-world assets (RWA) under the MiCA framework. In addition, the DuskEVM, scheduled to launch in November 2025, will achieve a fusion of privacy protection and EVM compatibility, and the market expects this to significantly increase institutional adoption, further supporting the upward momentum of the token.

Hotspot Interpretation

The yield-bearing stablecoin has encountered the largest weekly capital outflow since the Luna crash, amounting to 1 billion dollars.

According to Stablewatch data, the yield-bearing stablecoin sector experienced the largest capital outflow since the collapse of Terra (LUNA/UST) in 2022, with a total outflow reaching $1 billion over the past week. This volatility was mainly triggered by the zero event of xUSD under Stream Finance, which suffered a loss of $93 million in fund assets, leading to a chain reaction in the market; the TVL of csUSDL under Coinshift plummeted by 95%, leaving only about $1.92 million; Elixir's deUSD and sdeUSD also fell into a liquidity crisis simultaneously, indicating a renewed increase in systemic risk in this sector.

The balance between high yields and risks for yield-bearing stablecoins has once again been disrupted. This round of capital outflow highlights its structural fragility—over-reliance on off-chain yields and liquidity pool support makes the projects extremely susceptible to imbalances under asset fluctuations or operational risks. Unlike traditional over-collateralized stablecoins, this type of product is essentially closer to “yield fund tokenization,” with complex risk transmission pathways and limited transparency. In the short term, the market's loss of confidence will lead to a capital flow back to safe assets like USDC and DAI; in the medium to long term, it may prompt regulators and project parties to reshape the risk disclosure and asset management mechanisms for yield stablecoins.

Gate launched a decentralized Web3 Launchpad, building a new model for on-chain token issuance.

Gate has officially launched the decentralized issuance platform Web3 Launchpad, aimed at providing users and project parties with a secure, transparent, and fair on-chain token issuance environment, promoting the shift of token issuance models from centralized to fully on-chain. Unlike the custodial issuance process of traditional Launchpads, the subscription, distribution, and settlement of Web3 Launchpad are all automatically executed through smart contracts, with all operations verifiable and traceable on-chain, ensuring openness and auditability. The platform adopts a DEX public fundraising mechanism, allowing users to participate directly with on-chain wallets without the need for asset custody; at the same time, all listed projects must pass Gate's smart contract security audits and qualification screening, and can receive liquidity and marketing support provided by the Gate ecosystem.

Gate's decentralized Launchpad reflects the trend of central exchanges (CEX) accelerating “on-chain” development. The platform balances security audits with a decentralized issuance mechanism, achieving a balance between transparency and user control, which helps enhance investor trust and lower the barriers for project issuance. From an industry perspective, this initiative may become a landmark node in the “self-evolution” of the CEX ecosystem, promoting the return of the token issuance market to on-chain and to openness.

Google Finance announced that it will integrate Kalshi and Polymarket prediction market data.

Google Finance has announced that it will soon integrate prediction market data from Kalshi and Polymarket, meaning that users will be able to view not only traditional financial indicators but also directly query the market probabilities of specific events in the search box. For example, by entering keywords like “Will the Federal Reserve cut interest rates” or “Will a certain candidate win the election,” users can see in real time the probability curves generated by the prediction markets and their historical trends. This feature is expected to be rolled out in phases over the next few weeks.

Google Finance has introduced prediction market data, marking an important step in the integration of traditional financial information platforms with Web3 data. Kalshi, as a regulated U.S. prediction market, represents an extension of the compliance pathway; while Polymarket symbolizes the innovative vitality of decentralized prediction ecosystems. The simultaneous integration of data from both signifies that “market consensus” is becoming a mainstream information source. This move is expected to significantly enhance the visibility and credibility of prediction markets, and also lays the foundation for Google to build an “intelligent financial search layer,” further blurring the lines between traditional finance and encryption-native data. <br> References:

• Gate, https://www.gate.com/trade/BTC_USDT
• Farside Investors, https://farside.co.uk/btc/
• Gate, https://www.gate.com/trade/ETH_USDT
• Farside Investors, https://farside.co.uk/eth/
• Gate, https://www.gate.com/trade/GT_USDT
• CoinGecko, https://www.coingecko.com/en/cryptocurrency-heatmap
• Gate, https://www.gate.com/price
• X, https://x.com/stablewatchHQ/status/1986438113586258357
• Gate, https://www.gate.com/announcements/article/48041
• Bloomberg, https://www.bloomberg.com/news/articles/2025-11-06/google-to-offer-kalshi-and-polymarket-data-on-finance-searches?srnd=phx-crypto

<br> Gate Research Institute is a comprehensive blockchain and encryption research platform that provides readers with in-depth content, including technical analysis, hot 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 being purchased before making any investment decisions. Gate does not bear any responsibility for any losses or damages arising from such investment decisions.