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  • ZKsync price jumps above $0.06 with 87% weekly gains amid major token utility overhaul

    ZKsync price jumps above $0.06 with 87% weekly gains amid major token utility overhaul

    ZKsync Price Gains

    • ZKsync price gained by 11% and hit a high of $0.068.
    • Gains came as bulls hold steady and weekly uptick climbs to 87% amid Atlas upgrade.
    • ZKsync has also received endorsement from Ethereum co-founder Vitalik Buterin.

    ZKsync surged by more than 11% in intraday gains on November 5, 2025 to hit highs above $0.068 as upbeat sentiment held.

    With key announcements regarding major enhancements to ZK token utility, the altcoin’s price has extended gains to over 87% in the past week.

    Renewed interest in the token has also come amid a key boost by Ethereum co-founder Vitalik Buterin.

    ZKsync price extends weekly gains to 87%

    Despite a widespread downturn in the cryptocurrency market, ZKsync’s ZK token has demonstrated impressive strength.

    Bulls defied the crash to reach new highs of $0.068, with an 11% price increase that also boasted a 21% spike in daily trading volume for ZK.

    Per CoinMarketCap, ZKsync’s daily volume hit an impressive $499 million over the past 24 hours.

    Like Aster, Bitget Token and Hyperliquid, ZK Bulls are showing resilience. It trades near $0.061, off intraday highs but still above session lows of $0.049.

    Analysts suggest that ZK’s ability to hold steady as trading volumes remain elevated may allow bulls to target $0.10, a level last seen in March.

    Notably, ZK has traded in a downtrend since rejecting highs of $0.26 in early December, 24..

    ZKsync token to get major utility overhaul

    The catalyst behind ZK’s recent rally looks to be the community’s reaction to a proposed upgrade that seeks a comprehensive overhaul of ZK token utility.

    Atlas upgrade brings this possibility, a major enhancement set to amplify the ZK token’s functionality.

    By expanding the token’s use cases, the upgrade aims to create a more robust economic model, where ZK serves not only as a governance tool but also as a conduit for value accrual from off-chain activities.

    “This proposal presents a high-level direction for $ZK token utility,” said Alex Gluchowski, founder of ZKsync and CEO of Matter Labs.

    He elaborated on the strategic intent, noting that the changes are designed to unify on-chain and off-chain value flows.

    “Under this proposal, value generated from such enterprise components would flow into the same governance-controlled mechanism as on-chain value. In practice, this means establishing structures through which licensing-based revenue can return to the network and enter the same ZK buyback and allocation pathways, preserving a single unified economic loop,” the ZKsync co-founder noted.

    Also buoying ZKsync price this past week has been a recent endorsement from Ethereum co-founder Vitalik Buterin.

    Buterin’s public support has added significant credibility, emphasizing the protocol’s alignment with Ethereum’s scaling vision and its potential to drive mass adoption.

    The Ethereum co-founder has long advocated for zero-knowledge technology, which is ZKsync’s focus.

    As the ecosystem matures, stakeholders anticipate increased DeFi activity.

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  • Bitcoin tests $100K support after massive liquidation event rocks market

    Bitcoin tests $100K support after massive liquidation event rocks market

    Bitcoin tests $100K support after massive liquidation event rocks market

    • Bitcoin briefly fell to $100,000 after a sharp market-wide sell-off.
    • Over $1.6 billion in leveraged long positions were liquidated in 24 hours.
    • The crash was fueled by “risk-off” sentiment and Fed rate cut uncertainty.

    The cryptocurrency market was rocked by a wave of forced selling late Monday, triggering a sharp downturn that saw Bitcoin briefly touch the $100,000 level and erased more than $1.6 billion in leveraged bullish positions.

    The sudden deleveraging event, one of the largest since September, sent a shockwave across the digital asset space, with major altcoins like Ether, Solana, and XRP posting heavy losses as renewed macroeconomic fears spooked investors.

    The core of the market’s turmoil was a massive cascade of liquidations. In the last 24 hours, more than $2 billion in crypto futures contracts were forcibly closed, with long traders—those betting on higher prices—accounting for nearly 80% of the losses at $1.6 billion, according to CoinGlass data.

    This automatic selling pressure occurs when traders using borrowed funds see their positions move sharply against them, forcing exchanges to sell the assets to cover losses. 

    Macro headwinds and risk-off sentiment

    The sell-off was fueled by a broader “risk-off” mood spreading across financial markets.

    Analysts pointed to a combination of factors that are making investors nervous and prompting them to shed speculative assets.

    “Recent speculation that the FOMC may pass on another rate cut this year, as well as concerns over tariffs, credit market conditions, and equity valuations, helped drive markets lower,” Gerry O’Shea, head of global market insights at Hashdex, said in an email to CoinDesk.

    He added that Bitcoin’s price has also been affected by profit-taking from long-term holders, which he described as “an expected phenomenon as the asset matures.”

    Bitcoin at a crossroads: a test of support

    Following the plunge, Bitcoin staged a modest rebound to trade around $101,000. However, the token remains down 5.5% over the past day and more than 10% for the week.

    The pain was more severe for altcoins, with Ether dropping 10%, while Solana and BNB lost 8% and 7% respectively.

    Despite the sharp downturn, some analysts believe the long-term picture for Bitcoin remains positive.

    “While $100,000 may be a psychologically important support level, we do not view today’s price action as a sign of a weakening long-term investment case for Bitcoin,” O’Shea said.

    With the Federal Reserve’s next move uncertain and global risk appetite fragile, the coming days will be a crucial test for the market, determining whether Bitcoin can hold its current level or if another wave of forced selling is on the horizon.

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  • Bittensor (TAO) plunges 16% amid broader crypto sell-off

    Bittensor (TAO) plunges 16% amid broader crypto sell-off

    Bittensor TAO Token

    • Bittensor’s token plunged 16% in 24 hours to hit lows of $389.
    • Losses for the top artificial intelligence coin came amid profit-taking following a recent spike.
    • Fed’s hawkish stance, the Balancer exploit, and AI-capital rotation has fueled risk-off sentiment.

    Bittensor’s native token, TAO, has tumbled 16% over the past 24 hours, dipping to lows of $389 as it outpaced the artificial intelligence sector’s overall decline of 9%.

    Losses for Bittensor came as Bitcoin slipped to near $100,000, and the total market capitalization dropped to under $3.4 trillion.

    While analysts remain bullish for BTC and the broader market, investors are grappling with a confluence of macroeconomic pressures.

    Sector-specific headwinds are also in play and could add to declines driven by panic selling.

    Bittensor’s TAO plunges amid profit-taking

    Bittensor is a decentralized machine learning protocol that incentivizes collaborative AI model training through its blockchain.

    The native token TAO’s price has outperformed recently, tapping into gains for AI-related stocks like Nvidia.

    However, the token’s value cratered to $3.89, marking a 16% intraday loss.

    Bulls have attempted a recovery, but the price hovers at $400, down from highs of $488.

    Meanwhile, trading volume surged 17% to $712 million, a scenario that reflects the heightened panic selling.

    Like across the broader market, this comes as retail and institutional holders liquidate positions on jitters around the waning AI-driven rally.

    The plunge appears exacerbated by profit-taking following the launch of Europe’s first staked TAO exchange-traded product (ETP) by Safello.

    It initially sparked a major rally, but bulls have since failed to sustain momentum.

    Broader crypto market sell-off

    The cryptocurrency ecosystem has suffered a substantial loss, with over $250 billion evaporating in market value within 24 hours, culminating in a 5.8% contraction in overall market capitalisation to $3.4 trillion.

    Bittensor’s underperformance against Bitcoin, down 6% to near $100,000, and top altcoins, in relative terms, highlights TAO’s vulnerability in a risk-off environment.

    Sentiment is in the fear zone.

    This outlook sees Ethereum down 8% to $3,340, breaching key support at $3,550 and erasing 18% over the week.

    Solana and XRP have also posted key losses, and liquidations across derivatives markets exceeded $1.13 billion.

    A lot of the downbeat sentiment is the reaction to Federal Reserve officials’ remarks that have cut bets for a December rate cut.

    Meanwhile, Wall Street jitters have seen US spot Bitcoin and Ethereum ETFs log four consecutive days of outflows.

    The Balancer crypto hack incident also dented sentiment.

    “The latest $128M Balancer exploit is a reminder of something fundamental: most smart contracts today rely on audit-based hope. Developers write complex code, auditors review it, and everyone hopes there are no hidden logic flaws. But hope isn’t assurance,”Bitcoin finance platform Blockstream noted on X.

     

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  • Altcoins today: Perpetual tokens shed over $2B as ETH slips under $3.5K

    Altcoins today: Perpetual tokens shed over $2B as ETH slips under $3.5K

    Altcoins today: Perpetual coins shed over $2B as ETH slips under $3.5K

    • Alts suffered a bloodbath on Tuesday as Ethereum surrendered a key level.
    • Perpetual tokens lost over $2B amid broader sell-offs.
    • New US sanctions on North Korea fuel fears of stiffer crypto regulations.

    Digital assets saw another dip today, as Bitcoin fell to $102,425 after losing nearly 4% of its value over the past 24 hours.

    Altcoins extended their declines as Ethereum plummeted by over 6% to $3,401.

    The global cryptocurrency market lost 3% the previous day to $3.43 trillion.

    Amidst the broader bloodbath, tokens linked to perpetual decentralized exchanges appeared to suffer the most.

    According to Coingecko data, the value of perp tokens reduced from $18.511 billion to $16.381 billion in the last 24 hours.

    That’s a roughly 13% dip, reflecting significant bearishness within a sector that many anticipate to shape the next stage of crypto evolution.

    Top tokens in the category, including ASTER, HYPE, and JUP, have lost more than 10% of their value within the past day.

    Perpetual tokens exhibit heavy selling pressure, signaling more downtrends before potential bounce-backs.

    Sanctions stir uncertainty over regulation

    The cryptocurrency market has experienced faded sentiments lately.

    Various developments contribute to the current bearish mode.

    For instance, the Fed Governor magnified uncertainty over December interest rates with his latest remarks on Bloomberg Surveillance.

    Also, bears thrived after the DeFi platform Balancer suffered an over $100 million hack.

    Further, Stream Finance’s decision to freeze withdrawals and subsequent de-peg of its stablecoin added fuel to the fire.

    The US Treasury Department crashed the struggling market after announcing new sanctions targeting North Korean crypto activities.

    The Office of Foreign Assets Control confirmed sanctions against entities and individuals involved in information technology worker fraud and crypto-associated crime used to fund North Korea’s missile programs.

    The post detailed:

    Over the past three years, North Korea-affiliated cybercriminals have stolen over $3 billion in cryptocurrency. Often using sophisticated techniques such as advanced malware and social engineering.

    Meanwhile, the announcement triggered panic across the markets as it hinted at stiffer cryptocurrency regulations and possibly aggressive enforcement moves.

    Such developments might catalyze a regulatory domino effect where DeFi projects and exchanges face intensified scrutiny.

    Market players potentially began reducing exposure as the sanctions updates surfaced, accelerating the broader sell-offs.

    Crypto market outlook

    The cryptocurrency market displays substantial selling pressure.

    Coinglass data shows liquidations surged past $1 billion over the past 24 hours.

    Long positions suffered the most at $845 million, with shorts at $183 million.

    Bitcoin lost the key support zone at $107,500 during the latest decline from weekly highs of above $115,300.

    It looks poised for extended dips to the psychological level at $100,000 before setting a clear trajectory.

    Thus, altcoins, including perpetual tokens, will likely plummet further from their current price levels before stabilizing and potentially bouncing back.

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  • Decred defies market downtrend, jumps to 4-year high: analysts see path to $100

    Decred defies market downtrend, jumps to 4-year high: analysts see path to $100

    Decred Price Bullish

    • Decred price jumped to highs of $65 before paring gains to a key support level.
    • Gains came as privacy coins Zcash and Dash also spiked to the defy broader market dump.
    • DCR could target $100 next after hitting the four-year highs.

    As top coins slip to or below key levels, Decred (DCR) and a few others have bucked the trend with notable spikes.

    The widespread cryptocurrency market slump has seen Bitcoin, Ethereum, and XRP fall sharply, yet Decred is soaring to heights not witnessed since 2021. All this comes as Zcash and Dash stand out amid the ongoing resurgence of privacy-focused assets.

    Decred jumps to 4-year high of $65

    Decred’s price exploded more than 150% in 24 hours to touch a four-year peak above $65, with this coming amid a broader crypto downturn.

    The breakout follows bulls decisively breaching the resistance of a long-term falling wedge, with $40 a key level that allowed DCR to hit highs of $65.78. While the pattern remains in place on the longer term time frame, a little paring of gains has Decred price near $40 and risking profit taking flip.

    What fueled the early Tuesday surge was a staggering increase in trading volume, which skyrocketed over 1,100% to over $172 million. It offered a glimpse of the sharp buyer interest in the coin as privacy coins see traction.

    Zcash, Dash also surge

    Decred’s gains mirrored a broader revival in the privacy coin sector, where Zcash (ZEC) and Dash (DASH) have recently defied bears. In October, Zcash and Dash both rose to key levels, the ZEC spike seeing the altcoin hit 7-year highs.

    While Zcash has been the frontrunner in this pack, privacy coins such as DASH, Railgun, Horizon, Tornado Cash, and Verge have notched gains.

    Can Decred price go to $100 next?

    What privacy coins’ collective rally speaks to is a market rotation, with assets offering financial anonymity and robust fundamentals attractive.

    In this case, Decred stands out for its hybrid proof-of-work and proof-of-stake model, which emphasizes decentralized governance and enhanced security.

    The project recently highlighted its privacy credentials, noting non-custodial peer-to-peer mixing with post-quantum encryption. Users can mix coins while staking for untraceable histories and anonymous governance.

    Also key is DCR’s finite 21 million coin cap, pointing to a potential supply shock as holdings on exchanges like Binance continue to decline.

    Analyst Captain Faibik pointed to a potential spike in DCR price.

    While currently trading at $40.24, Decred still has potential for strong upward momentum.

    However, bulls have to show they are firmly in control by maintaining support above the $40 level. This could pave the way for further gains, potentially targeting $70 or beyond. Bulls hitting $65 means a fresh rally could bring $100 into play.

    On the flipside, $32 and $25 could be key demand reload zones.

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  • Strategy IPO redefines corporate Bitcoin strategy with euro-denominated offering

    Strategy IPO redefines corporate Bitcoin strategy with euro-denominated offering

    Strategy IPO redefines corporate Bitcoin strategy with euro-denominated stock offering

    • The company will issue 3.5 million STRE shares, each priced at €100 ($115).
    • Investors will receive a 10% annual dividend, paid quarterly beginning 31 December.
    • Strategy currently holds 641,205 BTC, valued at approximately $47.49 billion.

    Strategy, the crypto treasury company known for its methodical accumulation of Bitcoin, has unveiled plans for a euro-denominated perpetual stock under the ticker STRE.

    The initial public offering (IPO) signals a refined integration of traditional capital markets with the Bitcoin economy.

    Strategy’s latest move extends its long-term model of raising capital through equity and debt to expand its Bitcoin reserves, consolidating its position as the largest corporate holder of the asset.

    Euro-denominated IPO targets professional investors

    The company plans to issue 3.5 million shares of STRE, each priced at €100 ($115), with a 10% cumulative annual dividend payable quarterly from 31 December.

    Proceeds will be used to acquire additional Bitcoin (BTC), currently trading at $104,603, and for general corporate purposes.

    Strategy stated that the shares will be available only to qualified investors in the EU and UK, excluding retail participants.

    The structure reflects the company’s preference for institutional capital and adherence to regulated financial frameworks while maintaining exposure to digital assets.

    Refining the Bitcoin corporate treasury model

    Founded by Michael Saylor, Strategy adopted its Bitcoin-first balance sheet model in mid-2020.

    The company raises capital through market instruments, converts it into Bitcoin, and holds the cryptocurrency as a strategic reserve.

    This approach has made Strategy the largest Bitcoin-holding public company, with 641,205 BTC worth about $47.49 billion.

    Earlier in November, it added 397 BTC to its holdings as part of its ongoing acquisition plan.

    Saylor’s framework has influenced a wave of similar corporate treasury models, with firms issuing equity or credit to build crypto reserves.

    Many now hold Bitcoin and Ether (ETH), trading at $3,502, as balance sheet assets.

    Together, these companies have raised billions, indicating a shift in how institutions view cryptocurrencies: not as speculative bets, but as reserve assets with long-term strategic value.

    Market competition and acquisition restraint

    Analysts have warned that the rapid growth of the crypto treasury sector could lead to consolidation as new entrants compete for investor capital.

    Some expect companies to acquire rivals to preserve scale and relevance.

    However, Strategy has confirmed it will not pursue mergers or acquisitions, even where they might appear beneficial.

    The firm intends to expand organically, focusing on disciplined balance sheet growth and direct communication with investors.

    This stance separates Strategy from its peers. While others diversify or seek acquisitions, it remains committed to a singular mission of strengthening its Bitcoin position.

    The company’s discipline and transparency have become central to its investor relations strategy.

    Major banks back the offering

    The IPO will be managed by global financial institutions including Barclays, Morgan Stanley, Moelis, and TD Securities.

    Their participation underscores growing confidence among traditional finance players in Bitcoin-linked products.

    The STRE stock represents a rare hybrid between fixed income and digital asset exposure.

    It offers predictable returns while channelling proceeds into Bitcoin, effectively linking the traditional yield-seeking investor base with the cryptocurrency ecosystem.

    As institutional participation in Bitcoin deepens, Strategy’s euro-based IPO may define a new template for corporate finance.

    The company’s ability to merge compliance-driven capital markets with a decentralised asset base demonstrates how digital currencies are being absorbed into the core of global finance.

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  • Kraken expands regulated derivatives in Europe with Bitcoin and Ethereum collateral

    Kraken expands regulated derivatives in Europe with Bitcoin and Ethereum collateral

    Kraken expands regulated derivatives in Europe with Bitcoin and Ethereum collateral

    • The feature applies to more than 150 perpetual futures markets available to European users.
    • The exchange operates under MiCA and MiFID II regulations, with oversight from Ireland and Cyprus.
    • Kraken’s third-quarter revenue rose by 50% to $648 million following its acquisition of NinjaTrader.

    Kraken has expanded its regulated derivatives offering in the European Union, allowing traders to use Bitcoin, Ethereum, and approved stablecoins as collateral for perpetual futures on Kraken Pro.

    Announced on 3 November, the move makes Kraken one of the first licensed exchanges in Europe to support crypto-collateralised derivatives under the Markets in Crypto-Assets (MiCA) framework.

    The feature strengthens Kraken’s position in Europe’s digital asset market by combining capital efficiency with regulatory compliance.

    By allowing clients to post crypto assets instead of converting them into fiat, the exchange provides faster access to liquidity while remaining under strict oversight from European regulators.

    Crypto as margin on Kraken Pro

    European traders can now use Bitcoin, Ethereum, or select stablecoins as margin across more than 150 perpetual futures markets.

    Collateral is converted to USD for liquidation and margin calculations, standardising risk management while maintaining crypto exposure.

    Kraken’s operations are covered by its MiCA licence from the Central Bank of Ireland and supervision by the Cyprus Securities and Exchange Commission.

    The exchange uses volatility-based margin haircuts to manage exposure to price swings. All custody arrangements comply with the Markets in Financial Instruments Directive II (MiFID II), ensuring full investor protection under European law.

    The feature allows traders to access up to 10x leverage using crypto collateral. It reflects Kraken’s ongoing strategy to align its trading products with Europe’s unified digital asset rules ahead of MiCA’s full rollout in 2025.

    A shift in EU derivatives

    Kraken’s expansion comes at a time when Europe is tightening oversight of crypto products while promoting innovation through consistent regulation.

    By offering crypto-collateralised futures under direct supervision, the exchange positions itself at the forefront of compliant derivatives trading in the EU.

    The integration benefits institutional and retail traders seeking efficient and legally sound ways to trade leveraged crypto products.

    Hedge funds and corporate treasuries can now operate within clear regulatory limits, signalling the increasing maturity of Europe’s digital derivatives market.

    This move also strengthens the region’s financial infrastructure. Transparent liquidation procedures and regulated custody standards align digital assets with traditional financial norms, helping reduce risk and improve trust.

    As other licensed exchanges follow Kraken’s lead, the EU could become a global hub for compliant digital asset trading.

    Growth supports expansion

    The announcement follows a strong financial quarter for Kraken. The exchange reported revenue of $648 million in the third quarter, a 50% rise from the previous quarter.

    The increase was driven by higher trading volumes and new product integrations following the acquisition of NinjaTrader, a futures and forex trading platform.

    This momentum underlines Kraken’s ability to grow while maintaining regulatory standards. By embedding compliance into its strategy, the company is building credibility and scale in an increasingly regulated environment.

    As MiCA rules continue to take effect, exchanges that prioritise both innovation and compliance are expected to capture greater institutional interest.

    Kraken’s integration of crypto collateral into a regulated derivatives framework demonstrates how digital assets can function securely within Europe’s financial system.

    The development marks a shift from speculative trading to a more structured market, where transparency and protection guide participation.

    For the European Union, this represents progress toward establishing a regulated, sustainable, and globally competitive digital asset economy.

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  • After worst October in six years, is Bitcoin poised for a November rally?

    After worst October in six years, is Bitcoin poised for a November rally?

    After worst October in six years, is Bitcoin poised for a November rally?

    • Bitcoin posted its first negative October performance in six years, now trading at $107k.
    • Fed’s hawkish comments on a potential December rate cut pressured the price.
    • November has historically been one of Bitcoin’s strongest months (42% mean return).

    Bitcoin is entering November on uncertain footing after suffering its first negative October performance in six years, a downturn that has left investors questioning whether the move was a healthy correction or the start of a deeper bear trend.

    The leading cryptocurrency is currently trading around $107,000, down 1.4% in the last 24 hours.

    The recent price weakness culminated in a significant deleveraging event on November 3, which saw over $1.16 billion in leveraged long positions liquidated, highlighting the intensity of the sell-off.

    Macro headwinds drive a ‘red October’

    The negative monthly performance occurred against a complex macroeconomic backdrop.

    While the US Federal Reserve delivered an anticipated rate cut, subsequent comments from Chair Jerome Powell tempered market expectations for another cut in December, creating uncertainty that pressured risk assets like Bitcoin.

    This caution was reflected in market data, with Bitcoin’s US-session returns cooling from a positive 0.94% on October 29 to a negative 4.56% over the past week, according to Velo data.

    On a more positive note, geopolitical tensions have eased following the trade agreement reached between US President Donald Trump and Chinese President Xi Jinping.

    A mid-cycle correction or the end of the bull run?

    Despite the recent downturn, some market experts believe the sell-off is a constructive development for the broader bull market.

    “So could this red October actually set up the next major leg of Bitcoin’s bull cycle? I think that’s entirely possible,” Rachel Lin, CEO of SynFutures, told Decrypt.

    Corrections like this tend to be the midpoint of a broader cycle rather than the end.

    This optimistic view is supported by strong on-chain data, which indicates that long-term structural demand from holders remains robust despite the short-term price volatility.

    History suggests a strong November rebound is possible

    Historical performance data also provides a bullish case for the coming month. November has traditionally been one of Bitcoin’s strongest months, posting an average return of 42% over the past 12 years.

    This trend, combined with a still-positive mean return of 6.05% for the third quarter, suggests the underlying uptrend remains intact.

    “For November, I expect a period of stabilization and cautious optimism,” Lin said.

    Bitcoin may trade sideways early in the month as markets absorb Fed commentary, but a decisive shift in tone could trigger a recovery.

    The expert maintains that if Bitcoin continues to follow its typical post-halving cycle, the long-term outlook remains bright.

    Citing strong fundamentals from ETF inflows to institutional adoption, Lin believes “a move toward $120,000 to $150,000 by the end of 2025 remains within reach.”

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  • Bitcoin holds $110k as cautious calm returns to crypto markets

    Bitcoin holds $110k as cautious calm returns to crypto markets

    Bitcoin holds $110k as cautious calm returns to crypto markets

    • Bitcoin is trading steadily around $110,300 as markets consolidate.
    • Traders have largely paused adding new risk after the recent Fed meeting.
    • Bitcoin dominance has risen to approximately 60% of the total crypto market.

    With Bitcoin holding steady above the key $110,000 level as traders consolidate positions and reassess risk following last week’s hawkish signals from the US Federal Reserve, a cautious calm settled over cryptocurrency markets at the start of the week.

    While the market has stabilized after a volatile period, underlying data from the derivatives and credit markets suggests that a “wait-and-see” approach is now the dominant strategy, with investors looking for a fresh catalyst to dictate the next major move.

    As the business week began in Hong Kong, Bitcoin was trading around $110,300, while Ether held near $3,880. Both assets remain down significantly over the past 30 days, by 10% and 14% respectively.

    According to market maker FlowDesk, clients have largely “paused adding new risk” after the Fed meeting, with market activity dominated by short-term trading and portfolio rebalancing.

    Despite the caution, FlowDesk noted that traders showed net buying in tokens with strong underlying fundamentals like BTC, HYPE, and SYRUP, even as Solana-linked assets lagged.

    This deleveraging has left many traders “underexposed if the market rebounds,” suggesting a cleaner market position, the firm wrote.

    Fear lingers in the derivatives market

    While spot markets appear calm, the derivatives space still shows signs of fear. According to CoinGlass data, approximately $155 million in crypto derivatives were liquidated in the past 24 hours.

    The split, with $97 million in long positions and $58 million in shorts being wiped out, points to a moderate flush of overleveraged bullish bets rather than broad panic selling.

    FlowDesk observed “elevated put skew and lingering caution despite calmer volatility,” indicating that traders are still buying downside protection.

    This cautious positioning, dominated by put buying and call selling, could present an opportunity if the market stabilizes.

    “Cheap risk reversals could appeal if spot markets stabilize,” FlowDesk wrote, adding that volatility will likely “drift lower into year-end.”

    Gold holds gains despite hawkish Fed

    In the broader macroeconomic picture, gold is holding onto its recent gains despite headwinds from the Fed.

    The precious metal closed Friday at about $4,003 per ounce, posting a 3.7% gain in October for its third consecutive monthly rise.

    Despite hawkish comments from the Federal Reserve and a stronger dollar that have reduced the odds of a December rate cut, haven demand for gold remains strong.

    Persistent geopolitical tensions and ongoing U.S. fiscal uncertainty have continued to support the metal’s appeal as a stable asset.

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  • ZIGChain eyes gains as Nasdaq-Listed SEGG Media backs ZIG

    ZIGChain eyes gains as Nasdaq-Listed SEGG Media backs ZIG

    ZIGChain And Nasdaq Logo

    • ZIGChain price was up nearly 3% as bulls targeted $0.1.
    • Gains came as SEGG Media announced plans to buy ZIG as part of a $300 million treasury strategy.
    • Institutional investors could enhance ZIG’s credibility.

    ZIGChain price hovers near $0.08, but could target key levels as a significant development emerges from the intersection of traditional finance and web3 innovation.

    Nasdaq-listed SEGG Media Corporation announced a bold $300 million strategic initiative to integrate blockchain technology into its sports and entertainment operations.

    SEGG plans a notable focus on accumulating ZIG, the native token of ZIGChain.

    SEGG Media to buy ZIG from $300 million treasury strategy

    SEGG Media (formerly Lottery.com Inc.) has disclosed an ambitious plan to allocate a portion of its newly established $300 million Digital Asset Treasury toward acquiring ZIG.

    The strategy dedicates 80% of the treasury to a multi-asset crypto portfolio.

    It includes Bitcoin, with validator-based income generation on networks like Ethereum, Solana, and ZIGChain.

    The remaining 20% will be used for acquisitions.

    SEGG also targets pilot programs for tokenizing assets such as athlete intellectual property and fan stakes.

    More in store for the benefit of ZIGChain

    A memorandum of understanding with ZIGChain outlines a collaborative effort to tokenize SEGG Media’s sports and entertainment businesses.

    The firm plans to leverage ZIGChain’s infrastructure for real-world asset tokenization.

    The partnership also aims to launch a trading platform on Sports.com and Concerts.com, enabling tokenized teams, bands, and events.

    SEGG Media’s CEO, Matthew McGahan, has emphasized the company’s mission to bridge traditional markets with blockchain innovation.

    ZIGChain’s founder, Abdul Rafay Gadit, also highlighted the milestone this represents for institutional blockchain adoption.

    ZIGChain price: How high can ZIG go?

    The strategic accumulation of ZIG by a Nasdaq-listed entity like SEGG Media has sparked speculation about the token’s price trajectory.

    ZIG is currently trading at $0.086, according to CoinMarketCap data, with a 24-hour trading volume of $2.48 million.

    While the price has tanked towards new year-to-date lows since flipping from highs of $0.12 in April, ZIG remains well above the all-time lows of January 2023.

    ZIGChain Price
    ZIG chart by CoinMarketCap

    Mainnet launch, which occurred recently, has the network eyeing growth.

    Just a month into the mainnet launch, ZIGChain has recorded over 1 million transactions.

    More significantly, the involvement of a $300 million treasury could inject significant liquidity into the ZIGChain ecosystem, potentially driving demand and price appreciation.

    If SEGG Media’s allocation mirrors the enthusiasm seen in related trends, ZIG could see a short-term surge to mirror current outperformers.

    A retest of $0.10 could allow bulls to aim for $0.12 and potentially $0.15.

    Buyers reached these highs in December 2024.

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