XRP ETF Launches on Nasdaq as Crypto Market Faces Broad Decline

I. Crypto Market Overview

Key Takeaways

Macro Environment

The US government ended its 43-day shutdown, injecting liquidity and supporting risk assets. October US CPI data remains delayed, increasing market uncertainty and potential volatility. The US Senate advances a bill to shift crypto oversight to the CFTC, signaling major regulatory realignment.

Crypto Market

The crypto market saw broad declines over the past 12 hours, with BTC down 2.28% to $102,384 and ETH falling 3.97% to $3,427.55, pressured by ETF outflows and weak risk sentiment. Altcoins were mixed; Quant (QNT) surged 7.07% on interoperability news, Telcoin (TEL) soared 74.46% after US banking approval, and Tether Gold (XAUT) rose 2.02% on gold demand. XRP and ZEC posted modest gains, while most major tokens trended lower.

Today's Outlook

Nasdaq launches the Canary XRP ETF (XRPC) today, marking a major institutional milestone for XRP and expanding regulated crypto investment options. The UK releases main aggregates of national accounts, potentially impacting GBP and global market sentiment.

Fear and Greed Index

62.00% Annual Percentile

26 Fear

Total Crypto Market Cap

$3.45T

2.31%

Total Market Trading Volume

$177.91B

16.66%

Altcoin Season Index

41.67%

Quarterly Percentile

28 / 100

Total Futures Market Open Interest

4.48B

36.22%

Futures

813.45B

14.53%

Perpetuals

II. Industry Updates

Macro-economic Policies

The US government has ended its 43-day shutdown, enabling the resumption of federal payments and economic data releases. This rapid liquidity injection is expected to stabilize money markets and support risk assets, including BITCOIN and DeFi protocols.

The US Bureau of Labor Statistics has delayed the release of October CPI data due to the shutdown, creating a data vacuum for the Federal Reserve. This uncertainty may increase volatility in crypto markets as traders lack clear inflation signals for monetary policy decisions.

UK Q3 GDP growth slowed to 0.1%, missing expectations due to a major cyber attack on Jaguar Land Rover and broader manufacturing weakness. The sluggish growth and potential for further tax hikes could dampen GBP-denominated crypto trading and cross-border DeFi flows.

The euro strengthened above $1.16 following the US government reopening, reflecting improved risk appetite. A stronger euro and weaker dollar may drive capital flows into euro-denominated stablecoins and European crypto assets.

The Bank of New York Mellon has launched a money market fund tailored for stablecoin issuers, aligning with new US requirements for dollar-backed digital tokens. This development enhances liquidity management for stablecoin providers and supports the growth of tokenized money markets.

Cryptocurrency Regulatory Trends

Telcoin received final approval to launch the first regulated U.S. digital asset bank in Nebraska, enabling compliant stablecoin issuance and boosting investor confidence in blockchain banking.

The U.S. SEC, under Chair Paul Atkins, announced 'Project Crypto' to clarify token classification, exempting most popular tokens like Ethereum and Solana from securities laws, which reduces regulatory uncertainty.

The U.S. Senate Agriculture Committee released a bipartisan crypto market structure bill, aiming to shift primary oversight of digital asset spot markets from the SEC to the CFTC, signaling a major regulatory realignment.

Japan Exchange Group is considering stricter regulations for corporate crypto holdings, including enhanced disclosure and audit requirements, which may increase compliance costs but improve transparency for listed companies.

Singapore continues to lead in digital asset regulation, with clear stablecoin and payment token frameworks, supporting institutional adoption and providing regulatory certainty for crypto firms operating in APAC.

Quant (QNT): Quant surged 5.97% in 24h to $88.54, with trading volume at $35.1M. The rally is driven by strong market interest in cross-chain interoperability and recent ecosystem developments.

Tether Gold (XAUt): XAUt rose 2.08% in 24h to $4,201.01, with $14.7B in volume. The price increase is supported by rising gold demand and growing adoption of tokenized gold assets.

Zcash (ZEC): Zcash climbed 1.14% in 24h to $484.04, with $1.7B in trading volume. The gain is attributed to increased privacy coin interest and recent institutional accumulation.

Smart Money Movements

BlackRock deposited 4,653 BTC and 57,455 ETH, valued at over $673 million, into Coinbase Prime for ETF liquidity management amid a market downturn.

A crypto whale closed a 10,695 ETH long position worth $37 million, realizing a $335,000 profit, and opened a new 7,595 ETH long position valued at $26.1 million with 25x leverage.

Emory University doubled its Grayscale Bitcoin Trust holdings to over one million shares, now valued at approximately $51.8 million, reflecting increased institutional exposure.

A significant transfer of 33,600 SOL, worth $5.18 million, was executed from Fireblocks Custody to an anonymous address, highlighting ongoing large-scale fund movements.

Over 2.3 million TON, valued at about $4.79 million, was transferred from an anonymous address into the TON network, following another $2.13 million TON transfer between anonymous wallets.

Events to Watch

Nov 13 (Thu)

UK releases main aggregates of national accounts, impacting GBP and global markets; Nasdaq launches Canary XRP ETF (XRPC), marking a major institutional milestone.

Nov 13 (Thu)

ConsumerFi CFI token public sale begins on Calyx, offering 25 million tokens across multiple blockchains.

Nov 15 (Sat)

WCT token unlock: 13.76M WCT (65.21% of circulating supply) to be released, potentially affecting market liquidity and price.

Nov 14 (Fri)

Franklin Templeton ETF rollout starts, running through November 18, expanding institutional crypto investment options.

Nov 17 (Mon)

Solv Protocol unlocks 40.14 million tokens, a significant event for token holders and market participants.

Table of Contents

I. Crypto Market Overview

Key Takeaways

Macro Environment

Crypto Market

Today's Outlook

II. Industry Updates

Macro-economic Policies

The US government has ended its 43-day shutdown, enabling the resumption of federal payments and economic data releases. This rapid liquidity injection is expected to stabilize money markets and support risk assets, including BITCOIN and DeFi protocols.

The US Bureau of Labor Statistics has delayed the release of October CPI data due to the shutdown, creating a data vacuum for the Federal Reserve. This uncertainty may increase volatility in crypto markets as traders lack clear inflation signals for monetary policy decisions.

UK Q3 GDP growth slowed to 0.1%, missing expectations due to a major cyber attack on Jaguar Land Rover and broader manufacturing weakness. The sluggish growth and potential for further tax hikes could dampen GBP-denominated crypto trading and cross-border DeFi flows.

The euro strengthened above $1.16 following the US government reopening, reflecting improved risk appetite. A stronger euro and weaker dollar may drive capital flows into euro-denominated stablecoins and European crypto assets.

The Bank of New York Mellon has launched a money market fund tailored for stablecoin issuers, aligning with new US requirements for dollar-backed digital tokens. This development enhances liquidity management for stablecoin providers and supports the growth of tokenized money markets.

Cryptocurrency Regulatory Trends

Telcoin received final approval to launch the first regulated U.S. digital asset bank in Nebraska, enabling compliant stablecoin issuance and boosting investor confidence in blockchain banking.

The U.S. SEC, under Chair Paul Atkins, announced 'Project Crypto' to clarify token classification, exempting most popular tokens like Ethereum and Solana from securities laws, which reduces regulatory uncertainty.

The U.S. Senate Agriculture Committee released a bipartisan crypto market structure bill, aiming to shift primary oversight of digital asset spot markets from the SEC to the CFTC, signaling a major regulatory realignment.

Japan Exchange Group is considering stricter regulations for corporate crypto holdings, including enhanced disclosure and audit requirements, which may increase compliance costs but improve transparency for listed companies.

Singapore continues to lead in digital asset regulation, with clear stablecoin and payment token frameworks, supporting institutional adoption and providing regulatory certainty for crypto firms operating in APAC.

Trending Tokens

Quant (QNT): Quant surged 5.97% in 24h to $88.54, with trading volume at $35.1M. The rally is driven by strong market interest in cross-chain interoperability and recent ecosystem developments.

Tether Gold (XAUt): XAUt rose 2.08% in 24h to $4,201.01, with $14.7B in volume. The price increase is supported by rising gold demand and growing adoption of tokenized gold assets.

Zcash (ZEC): Zcash climbed 1.14% in 24h to $484.04, with $1.7B in trading volume. The gain is attributed to increased privacy coin interest and recent institutional accumulation.

Smart Money Movements

BlackRock deposited 4,653 BTC and 57,455 ETH, valued at over $673 million, into Coinbase Prime for ETF liquidity management amid a market downturn.

A crypto whale closed a 10,695 ETH long position worth $37 million, realizing a $335,000 profit, and opened a new 7,595 ETH long position valued at $26.1 million with 25x leverage.

Emory University doubled its Grayscale Bitcoin Trust holdings to over one million shares, now valued at approximately $51.8 million, reflecting increased institutional exposure.

A significant transfer of 33,600 SOL, worth $5.18 million, was executed from Fireblocks Custody to an anonymous address, highlighting ongoing large-scale fund movements.

Over 2.3 million TON, valued at about $4.79 million, was transferred from an anonymous address into the TON network, following another $2.13 million TON transfer between anonymous wallets.

Events to Watch

Nov 13 (Thu)

Nov 15 (Sat)

Nov 14 (Fri)

Nov 17 (Mon)

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