Gate Research Institute: Decentralized Finance zone strongly rebounds as the market warms up | ORE daily revenue exceeds one million dollars

Encryption Asset Overview

BTC (3.81% | Current Price 105,865 USDT)

The current trend of BTC shows that short-term bullish momentum is dominant. After continuously breaking through MA5 ($105,467) and MA10 ($104,948), the short-term moving averages have formed a clear bullish arrangement structure, indicating that the upward trend is still continuing. MA30 ($103,145) continues to rise, providing medium-term support for the market.

From a morphological perspective, BTC accelerated its rise after stabilizing around $103,000, briefly reaching a stage high of $106,683, and then showing a slight pullback at the high point, indicating short-term profit-taking pressure above. If the price can consolidate above $105,000 and maintain support from moving averages, it is expected to continue to test the previous high range of $106,500–$107,000. Conversely, if it breaks below the $105,000 support, it may retrace to around $104,000 to seek new buying support.

Overall, the short-term trend of BTC is relatively strong, but the upward momentum appears to be slightly slowing down. Investors should pay attention to the support strength at 105,000 USD and the resistance breakout at 106,700 USD.

In addition, on November 7, the net outflow of BTC ETFs reached 558 million USD in a single day, with BlackRock's IBIT seeing an outflow of 131 million USD and Fidelity's FBTC seeing an outflow of 256 million USD.

ETH (6.81% | Current Price 3,628 USDT)

ETH is currently continuing its upward trend. The price has broken through and is steadily above the short-term moving averages MA5 ($3,612) and MA10 ($3,586), with the short-term moving averages showing a bullish arrangement, indicating that the market's buying power remains strong. MA30 ($3,477) continues to rise, providing mid-term support for the market, reflecting an overall bullish trend.

From the perspective of price structure, ETH gained support around 3,480 USD and initiated a new round of upward momentum, once reaching a high point of 3,658 USD. A slight pullback occurred at the high, which is considered a healthy technical consolidation. If the price can stabilize and oscillate above 3,600 USD while maintaining support from the moving averages, it is expected to continue pushing upwards to test the resistance zone of 3,680–3,700 USD. If it falls below 3,580 USD, it may retrace to 3,520 USD to seek support.

Overall, the short-term trend of ETH remains strong, but upward pressure is gradually emerging. Investors are advised to pay attention to the effectiveness of the support at $3,600 and the breakout situation in the $3,700 area to assess the possibility of trend continuation or a short-term pullback.

In addition, on November 7th, the ETH ETF saw a net outflow of $46.6 million for the day, with BlackRock's ETHA inflowing $34.4 million and Fidelity's FETH outflowing $72.2 million.

GT (1.91% | Current Price 12.29 USDT)

The GT price is currently fluctuating around $12.29. The short-term moving averages MA5 ($12.28) and MA10 ($12.29) are nearly overlapping, indicating that the short-term trend direction is still unclear; however, MA30 ($12.12) continues to rise, providing some support for the price. Overall, after rebounding from a low of $11.24, GT reached a temporary high of $12.48 and is currently in a slight adjustment phase.

From the perspective of momentum performance, short-term buying interest remains active, with prices obtaining support multiple times around $12.20, indicating that this range has strong buying power. If the price can stabilize above $12.30 and break through the previous high of $12.48, it is expected to continue the upward trend and further test the resistance in the $12.60–$12.80 area; on the contrary, if it falls below the support of $12.10, it may retrace to around $11.90 in the short term.

Overall, GT is in a consolidation uptrend for the short term, with the trend still leaning bullish. It is recommended to pay attention to the breakout situation at the support level of 12.10 USD and the resistance zone of 12.50 USD to determine the next direction.

Daily Price Change Tokens

In the past 24 hours, the encryption market has rebounded strongly, with overall sentiment significantly improving. BTC rose by 4.43%, setting a solid upward tone for the market; ETH led mainstream assets with a 7.94% increase, bringing funds back to the risk asset sector. Among mainstream altcoins, Solana (+7.76%) continued its strong momentum, while XRP performed outstandingly with an increase of 8.99%.

In terms of hot tracks, COTI (+55.38%), RESOLV (+36.09%), and 1INCH (+11.8%) are leading the charge, indicating that the DeFi and privacy sectors are once again becoming the focus of market capital.

COTI Coti (+55.38%, circulating market cap 1.33 million USD)

According to Gate's market data, the COTI token is currently priced at 0.052 USD, having increased by approximately 55.38% in the last 24 hours. Coti (Currency Of The Internet) is a blockchain financial infrastructure focused on digital payments and stablecoin issuance. It utilizes DAG (Directed Acyclic Graph) technology and its own Trustchain consensus algorithm to achieve higher scalability, faster transaction speeds, and lower fees.

COTI has recently surged strongly, mainly driven by the launch of its privacy Layer2 mainnet and ecological incentive activities. The project has launched a native privacy token on Ethereum and has officially integrated it into MetaMask Snap, allowing users to send and receive private tokens directly through their wallets, marking the practical implementation of the COTI privacy network. In addition, Yaru Create has used COTI as a private backend (CRM solution), showcasing its landing potential in the Web2.5 scenario. Combining speed, cost, and privacy advantages, it opens up new space for “programmable privacy” applications. Meanwhile, COTI Earn has launched a “points retention bonus” mechanism—participants who retain points in their wallets during the first season will receive an additional 15% reward in the second season, strengthening long-term holding incentives and boosting market sentiment.

RESOLV Resolv (+36.09%, Circulating Market Cap 20.5074 million USD)

According to Gate market data, the current price of the RESOLV token is $0.13, having risen approximately 36.09% in the last 24 hours. Resolv is a DeFi protocol that revolves around issuing a stablecoin called USR, using ETH and BTC as collateral; it employs a strategy known as “Delta Neutral” to maintain the peg of USR to the US dollar, utilizing perpetual contracts to hedge against ETH and BTC price fluctuations, thereby maintaining value stability without relying on traditional fiat reserves.

RESOLV has shown strong performance recently, primarily driven by multiple positive factors. Its influence on social media continues to expand, with followers surpassing 50,000 by the end of October. The team has effectively increased community engagement through activities such as AMAs and virtual seminars, achieving a monthly active user ratio of up to 56%. On the ecological front, Resolv has over 200 million dollars in assets actively in use, covering Ethereum, Arbitrum, Base, and Plasma, making Resolv a core pillar. At the same time, Resolv has integrated Horizon under Aave, targeting the institutional and risk-weighted asset markets to further enhance capital efficiency. Additionally, the team continues to execute a weekly buyback plan, with a new round of buybacks set to begin this week. Last week (November 3), the foundation completed a RESOLV buyback of approximately 215,000 dollars at an average price of 0.046 dollars, funded by 20% of core protocol fees, further strengthening market confidence and token value support.

1INCH 1inch (+11.8%, circulating market cap 307 million USD)

According to Gate.io market data, the current price of the 1INCH token is $0.219, which has increased by approximately 11.8% in the last 24 hours. 1inch is a decentralized finance (DeFi) aggregation platform that connects multiple decentralized exchanges (DEX) to provide users with the best token exchange rates and the lowest trading costs. Its core is the Pathfinder algorithm, which automatically optimizes trading paths and allocates orders across multiple liquidity pools and exchanges to reduce trading costs and Gas fees.

With the recovery of sentiment in the encryption market, funds have been flowing back into the DeFi sector at an accelerated pace, and the established aggregator project 1inch has become the focus of attention for funds. Recently, its team investment fund transferred 5 million USDC to an exchange, raising market expectations for potential fund operations and subsequent ecological actions. Driven by this, the price of 1INCH broke through $0.20 within 8 hours after the fund transfer, with an increase of 29%; at the same time, on-chain activity significantly increased, with the number of transactions soaring from 1,000 to 4,800, and the number of active addresses rising from 324 to 551.

Hotspot Interpretation

ORE daily income exceeds one million dollars, V2 protocol ignites Solana mining craze

The Solana ecosystem mining protocol ORE recorded a single-day income surpassing 1 million USD on November 9, setting a new historical high. Since the launch of the new V2 mining protocol, ORE has quickly regained market attention, driving both token prices and protocol income to rise in tandem. The new protocol adopts a 5×5 grid mining system, with each round lasting 1 minute, allowing miners to compete for blocks by staking SOL. The SOL from unawarded blocks will be redistributed to the winners, who also have the opportunity to receive additional ORE rewards. Moreover, the Motherlode prize pool mechanism introduced in V2 provides random incentives, further enhancing gamification and participation. Data shows that before mid-October, the daily income of the ORE protocol remained at a level of several thousand USD, with a low of only about 548 USD. Starting from October 22, the protocol's income experienced explosive growth, skyrocketing to the hundred thousand USD level in just over ten days, and eventually surpassing the one million USD mark in November.

The explosion of ORE marks a phased success of the “gamified mining” model within the Solana ecosystem. The V2 version has stimulated the enthusiasm of both on-chain miners and speculative funds through innovative mechanisms and a strong incentive structure, successfully pushing the previously sluggish protocol revenue to new highs. However, from a sustainability perspective, the current revenue surge is more attributed to short-term games and high-intensity participation rather than stable long-term demand. In the future, if ORE can further build a stable miner ecosystem and a real computing power economic model beyond incentives, its growth potential should not be underestimated; otherwise, as yields stabilize and enthusiasm wanes, the protocol may face the challenge of declining activity.

x402 protocol ecological trading volume plummeted by 90% within half a month

The x402 protocol, which sparked heated discussions in the market at the end of October, has seen a significant drop in popularity. With the ebbing of the AI payment narrative, ecological activity has sharply declined. According to x402scan data, the daily trading volume of the x402 protocol peaked at approximately $2.8407 million on November 3, but subsequently plummeted to only $283,600 by November 9, a decline of over 90%. Meanwhile, the growth rate of sites and services supporting x402 protocol payments has also noticeably slowed: during its peak, there were over 10,000 new additions in a single day, but now it's less than 2,000 per day, indicating a marked reduction in ecological expansion momentum.

The surge and sharp decline of x402 reflect the short-term characteristics of the recent “AI + payment” narrative—market sentiment driving more than actual demand realization. Although the protocol quickly gained attention in the early stages due to its technical concepts and social dissemination effects, the sudden drop in trading volume and ecological expansion speed indicates that x402 has yet to form sustainable user retention and real usage scenarios. If x402 wants to restart growth in the future, it needs to shift from “narrative-driven” to “application-driven”, optimizing payment experiences and expanding actual business integration scenarios to regain market attention and trust.

Filecoin teams up with Avalanche to build a native cross-chain data bridge, accelerating the layout of modular infrastructure.

Filecoin announced a strategic partnership with Avalanche, planning to leverage the Filecoin virtual machine to build a native cross-chain data bridge on the Avalanche C-Chain, enabling efficient data circulation across different chains and promoting the development of modular cross-chain infrastructure. This collaboration aims to enhance interoperability between chains and provide a more convenient and secure data sharing and interaction channel for decentralized applications (dApps).

This collaboration highlights the deep integration trend between Layer1 and the storage layer ecosystem. As the multi-chain ecosystem becomes increasingly complex, cross-chain data transfer capabilities have become crucial for infrastructure development. The partnership between Filecoin and Avalanche not only enhances the efficiency and security of data bridges, but also provides dApp developers with greater flexibility. In the long run, such native cross-chain infrastructure is expected to become an important support for the implementation of multi-chain applications as well as DeFi and Web3 data services, while also reflecting the core value of modular design in the blockchain ecosystem. <br> Reference Materials:

• 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
• Dune, https://dune.com/n2scapital/ore
• x402scan, https://www.x402scan.com/composer
• X, https://x.com/filecoin/status/1987508746906370

<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 forecasting, and macroeconomic policy analysis.

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