Topics of Crypto World

Gate Research Daily Report: On November 19, the crypto market saw a mild rebound despite extreme fear in sentiment. BTC edged up 0.15% to 92,410 USDT, while ETH rose 0.29% to 3,109 USDT. Among top movers, Anoma (+50.92%) surged as its ARM virtual machine went live on Ethereum, driving discussions around intents and programmable privacy; Grass (+23.03%) gained momentum ahead of its first Token Holder Call and on the back of processing 100 million scientific papers for open-science datasets; Falcon Finance (+17.69%) rallied as USDf supply exceeded 2 billion dollars and the Perryverse NFTs were fully revealed. On-chain data shows Bitcoin whales and institutions are accumulating simultaneously, with the number of wallets holding over 1,000 BTC reaching a four-month high. Vitalik introduced the Kohaku privacy framework, advancing privacy as a first-class property on Ethereum. Meanwhile, Zama launched its fully homomorphic encryption (FHE) testnet v2, marking a major step toward its upcoming mainnet launch.

On November 19, the crypto market saw a mild rebound despite extreme fear in sentiment. BTC edged up 0.15% to 92,410 USDT, while ETH rose 0.29% to 3,109 USDT. Among top movers, Anoma (+50.92%) surged as its ARM virtual machine went live on Ethereum, driving discussions around intents and programmable privacy; Grass (+23.03%) gained momentum ahead of its first Token Holder Call and on the back of processing 100 million scientific papers for open-science datasets; Falcon Finance (+17.69%) rallied as USDf supply exceeded 2 billion dollars and the Perryverse NFTs were fully revealed. On-chain data shows Bitcoin whales and institutions are accumulating simultaneously, with the number of wallets holding over 1,000 BTC reaching a four-month high. Vitalik introduced the Kohaku privacy framework, advancing privacy as a first-class property on Ethereum. Meanwhile, Zama launched its fully homomorphic encryption (FHE) testnet v2, marking a major step toward its upcoming mainnet launch.

Gate Web3 BountyDrop is a one-stop hub that gathers the most popular airdrop projects, offering users a fast-track entry into interactive tasks. Users can easily browse the latest airdrop projects, view project overviews, the interaction process, participation timeframes, and directly access project pages through task links to participate.

The article offers entry-level guidance for newcomers while also serving as a resource for advanced users looking for deeper insights and tool selection.

The article not only provides beginners with an introduction to the technology but also serves as a reference for experienced users to gain deeper insights and choose tools.

Readers should prioritize well-defined opportunities, such as real-world AI applications and advancements in blockchain infrastructure. They should focus on these rather than getting distracted by short-term market swings or expert discussions.

According to Gate Research, the cryptocurrency market has recently weakened overall. On the macro side, cooling expectations of Federal Reserve rate cuts and rising risk-off sentiment have put simultaneous pressure on equities, gold, and crypto assets. Bitcoin broke below key support levels and briefly fell under USD 90,000, erasing its year-to-date gains and declining about 27% from the intraday all-time high set on October 6. Technically, the 50-day moving average has crossed below the 200-day moving average, forming a “death cross,” indicating further bearish momentum in the medium term.

The article offers a thorough analysis of how Ethena employs basis trading strategies to generate yield and maintain stability for its synthetic dollar, USDe. It also explores Ethena’s distinctive positioning and competitive edge within the stablecoin market.

As the on-chain trading ecosystem continues to expand, more users are gradually shifting from centralized platforms to decentralized scenarios. On-chain Perp DEXs are becoming a preferred option for many traders thanks to their transparency, security, and user sovereignty.

This report provides a comprehensive overview of the structural changes, job distribution, and development trends in the global crypto employment market in 2025. It highlights that amid slowing global economic growth and the accelerating impact of AI on traditional industries, the crypto sector has demonstrated strong counter-cyclical resilience. With a total market capitalization approaching USD 3 trillion and more than 1.6 million professionals employed worldwide, the crypto industry has become a key driver of high-skilled employment within the digital economy.

The article discusses insights and recommendations from core contributors of the Ethereum Foundation, along with Vitalik Buterin’s detailed overview of Ethereum’s technical roadmap.

The article not only reviews the origins and early development of Bitcoin but also analyzes its evolving role in the financial system—from its beginnings as a rebellious currency to its current recognition as digital gold by institutions.

This article provides an in-depth analysis of why cryptocurrency asset prices remain sluggish despite improved regulation, institutional adoption, and technological advancements. From perspectives such as valuation, revenue structures, capital flows, and industry cycles, the author identifies the fundamental reasons for the current disconnect between token prices and underlying fundamentals, while proposing future sectors with genuine growth potential and pathways for value capture.

This article provides a thorough analysis of the systemic risks behind the collective collapse of DeFi stablecoins in November 2025, revealing how protocols such as Stream Finance and Elixir led to hundreds of millions in losses and an industry-wide bank run through opaque leverage cycles, "yield optimization" black-box operations, and fragile oracle mechanisms. By presenting detailed case studies and historical parallels, the article highlights fundamental flaws in DeFi's incentive structures, transparency, and security architecture, pointing out how so-called "decentralized finance" is repeating the same mistakes made over the past five years.

This article systematically examines the technical foundations of decentralized social protocols through three key dimensions: identity systems, data storage, and recommendation algorithms. It delves into the structural challenges that have emerged during the rapid growth of Social Fi applications, such as feature replication, inappropriate token usage, and lack of cultural context. By analyzing examples including Nostr, Farcaster, Bluesky, and Kaito, the article projects the future evolution of decentralized social networks—especially in payment integration and on-chain transaction access. It offers a comprehensive technical and product-level framework to guide the next stage of Social Fi development.