JPMorgan: Prospects of US Government Reopening, Market Risk Pressure Easing

On November 11th, according to GMGN monitoring, due to the impact of the "Uniswap Fee Switch or Fraudulent Pool Disappearance on Base", the on-chain trading volume of Base has decreased within the past 24 hours. The x402 ecosystem-related tokens have witnessed varying degrees of pullbacks today. These include: - VIRTUAL: It has experienced a 24-hour loss of 11.6%, with a market capitalization of $674 million and is currently priced at approximately $1.35. - PING: It has suffered a 24-hour loss of 23%, with a market capitalization of $25.3 million and is currently priced at approximately $0.025. - PAY AI: It has a 24-hour loss of 20%, with a market capitalization of $15.4 million and is currently priced at approximately $0.015. - dreams: It has a 24-hour loss of 20%, with a market capitalization of $22.2 million and is currently priced at approximately $0.022. BlockBeats reminds investors that the recent cryptocurrency market has witnessed a significant increase in volatility, and inve

On November 11th, as per The Block, DBS Bank of Singapore is collaborating with Kinexys, a digital asset platform under JPMorgan. The aim is to develop an interoperability framework that enables the cross-chain transfer of tokenized deposits within the on-chain ecosystems of both parties. This collaboration aims to build a bi-directional interoperability layer to support cross-network transactions between public and permissioned blockchains, thereby expanding customer reach. Currently, both institutions offer customers 24/7 liquidity services and real-time payment settlements within their blockchain systems. According to the announcement, in the future, JPM Deposit Token users based on the Ethereum Layer 2 network Base will be able to conduct transactions with DBS Bank token service customers operating on a permissioned chain. Such interactions have been limited by inherent interoperability challenges and associated security risks, which have been difficult to overcome within traditi

November 11th. Although there was a substantial market correction in October, institutional investors still hold confidence in digital assets. The majority of institutions plan to further increase their allocations in the coming months. A report released on Tuesday by the Swiss crypto bank group Sygnum indicates that more than 61% of institutions plan to increase their cryptocurrency investments, and 55% have short-term bullish expectations. This survey encompassed 1,000 institutional investors globally. Around 73% of the surveyed institutions stated that allocating to crypto assets is expected to yield higher returns in the future, even though the industry is still in the recovery stage after the historic $200 billion plunge in October. However, investor sentiment continues to be uncertain, mainly due to delays in key catalysts such as the "Market Structure Bill" and the availability of more ETFs for altcoins. Lucas Schweiger, the Chief Research Officer of the Crypto Asset Ecosystem

On November 11th, as monitored by The Data Nerd, 2 new wallets withdrew 957,000 LINK from Binance 9 hours ago (approximately $1.58 million). In the past 4 days, they have accumulated a total of 234,000 LINK (approximately $3.82 million).

On November 11th, the Swiss crypto bank group Sygnum declared that although there was a pullback in October, the "strong demand catalyst" and institutional participation still remained at historical highs. An increasing number of ETF applications indicated further institutional demand. Currently, there were at least 16 crypto ETF applications awaiting approval, and these applications had been delayed due to the 40-day U.S. government shutdown. Crypto Staking ETFs might become the next fundamental catalyst to trigger institutional cryptocurrency demand. Over 80% of the surveyed institutions showed interest in crypto ETFs other than Bitcoin and Ethereum. 70% of the institutions explicitly stated that they would start investing or increase their allocation if these ETFs provided staking rewards. Staking involves locking up tokens in a proof-of-stake blockchain network to maintain network security and earn passive income. Sygnum believed that investors were eagerly awaiting the end of th

November 11th. On-chain data analyst Murphy posted on social media today that the "Investor Sentiment Index" introduced by Glassnode has entered the "Red Signal", which represents a low level of confidence. This shows that market sentiment has once again dropped to a trough after reaching a peak, and it has been 7 months since the last disappearance of this signal. Murphy stated that based on data from the past 2 years of this cycle, after entering the red zone 3 times, it took 1 to 2.5 months each time for the trend to change from weak to strong. Since August 29th, when this indicator switched from the green "Optimistic Zone" to the yellow "Hesitant Zone", the index has remained in the yellow zone for an extended period, setting a corresponding record. After the first red signal appears, it usually does not reverse back to the green confidence zone in just a few days.