Filecoin, FET, NEAR Lead Crypto Surge as US CPI Release Looms

I. Crypto Market Overview

Key Takeaways

Macro Environment

The Federal Reserve cut rates to 3.75%-4% amid labor market weakness, increasing global liquidity but leaving future policy uncertain. Japan's FSA approved major bank stablecoin trials, signaling rising institutional digital asset adoption. India's RBI is expanding digital infrastructure and piloting a digital RUPEE to combat fraud and lower payment costs.

Crypto Market

The crypto market rebounded sharply in the past 12 hours, with Bitcoin up 1.41% to $101,663 and Ethereum surging 4.81% to $3,384, driven by strong institutional accumulation and whale activity. Altcoins outperformed, led by Filecoin (+39.07%), FET (+28.55%), and NEAR (+22.60%), fueled by DePIN/AI sector momentum and record on-chain activity.

Today's Outlook

Today's release of US October CPI data is highly anticipated, as it will provide critical inflation insights and could drive significant volatility across crypto and global markets.

Fear and Greed Index

82.00% Annual Percentile

21 Fear

Total Crypto Market Cap

$3.43T

2.54%

Total Market Trading Volume

$196.98B

1.16%

Altcoin Season Index

36.36%

Quarterly Percentile

27 / 100

Total Futures Market Open Interest

3.24B

4.54%

Futures

902.46B

7.49%

Perpetuals

II. Industry Updates

Macro-economic Policies

The Federal Reserve cut its benchmark interest rate by 25 basis points to 3.75%-4% on November 7, 2025, citing a weakening labor market. This move increases liquidity and may support Bitcoin and DeFi asset prices, but ongoing FOMC divisions create uncertainty for future monetary policy.

Mexico's central bank (Banxico) reduced its overnight interbank rate by 25 basis points to 7.25% after a split board decision. Lower rates in emerging markets can boost risk appetite and capital flows into crypto assets, potentially supporting BTC and altcoin demand.

The Bank of England held its policy rate at 4% in a close 5-4 vote, with four members favoring a cut. The dovish tone and potential for near-term easing may weaken GBP, increase global liquidity, and enhance crypto market inflows, especially for DeFi and stablecoins.

Japan's Financial Services Agency approved stablecoin trials by major banks, targeting a March 2026 launch. This signals growing institutional acceptance of digital assets, which could drive increased adoption and liquidity in the crypto market, particularly for stablecoin-linked DeFi protocols.

The Reserve Bank of India is expanding digital public infrastructure and piloting a digital rupee to combat rising financial fraud and improve cross-border payments. Enhanced digital rails and CBDC pilots may lower transaction costs and increase CRYPTO adoption in India, supporting local DEFI and payment token activity.

Cryptocurrency Regulatory Trends

21Shares has filed for a spot XRP ETF with the SEC, triggering a 20-day review window; if unchallenged, the ETF could launch by November 27, potentially boosting institutional adoption and XRP liquidity.

The ongoing U.S. government shutdown has stalled crypto regulatory progress, halting SEC and CFTC operations, delaying ETF approvals, and freezing the bipartisan CLARITY Act, increasing market uncertainty and dampening investor sentiment.

Major U.S. banks are lobbying the Treasury to ban stablecoin yields, warning of capital outflows from traditional banks; Coinbase opposes, arguing the Treasury lacks authority, highlighting regulatory tensions that could impact DeFi and stablecoin markets.

The GENIUS Act, now law, sets a three-year timeline for stablecoin compliance, requiring issuers to hold reserves in cash or T-bills and operate under strict federal oversight, which will reshape the U.S. stablecoin landscape and favor regulated entities.

Japan's Financial Services Agency is supporting a stablecoin pilot by the country's top banks, ensuring full asset backing and legal compliance, which may accelerate regulated stablecoin adoption in Asia and influence global regulatory standards.

Filecoin (FIL): Filecoin surged 39% in 24h to $3.08, driven by $3.87B trading volume and renewed DePIN/AI sector hype, with Grayscale FIL holdings hitting record highs.

Artificial Superintelligence Alliance (FET): FET jumped 28% in 24h to $0.36, fueled by $1.2B volume and news of the ASI token merger, consolidating FET, AGIX, and CUDOS into a universal AI token.

NEAR Protocol (NEAR): NEAR rose 22% in 24h to $2.87, supported by $1.9B volume and record on-chain activity, as the project positions itself as a leading AI-native blockchain.

Smart Money Movements

JPMorgan disclosed a $102 million investment in BitMine Immersion Technologies, acquiring 1,974,144 shares for indirect exposure to over 3.24 million ETH held by BitMine as of September 30, 2025.

JPMorgan increased its holdings in BlackRock's IBIT Bitcoin ETF by 64% to 5,284,190 shares, valued at $343 million, and added $68 million in call options and $133 million in put options as of September 30, 2025.

Tether added 961 BTC worth approximately $97 million to its reserves, raising its total Bitcoin holdings to 87,296 BTC, valued at around $8.9 billion, as part of its ongoing reserve diversification strategy.

A crypto whale opened a $43 million leveraged long position on Ethereum using 20x leverage on Hyperliquid, with a liquidation price set at $3,311.7, following a 17% ETH price drop this week.

Litecoin surged 16% to $101.06 as whale wallets holding over 100,000 LTC increased by 6%, with seven new whales entering and on-chain volume reaching a record $15.1 billion.

Events to Watch

Nov 8 (Sat)

US October Consumer Price Index (CPI) data will be released, providing key inflation insights for crypto and global markets.

Nov 9 (Sun)

Hourglass will release the KYC link for Stable Deposit Vault Phase 2 before 7:59 AM, enabling user participation in the next stage.

Nov 10 (Mon)

Web Summit opens in Lisbon, featuring blockchain and Web3 panels with global industry leaders, running through November 13.

Nov 11 (Tue)

Mining Disrupt conference begins in Irving, Texas, focusing on energy economics, mining hardware, and sustainable practices.

Nov 12 (Wed)

Kamino Season 4 token rewards start unlocking, with a 6-month vesting period; potential impact on token liquidity and price.

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