Inside the Crypto Sector
The digital asset landscape rarely sleeps, but even by crypto’s frenetic standards, early November has been exceptional. While most of the sector’s heavyweights have been treading water, a select few tokens are shattering expectations and rewriting the leaderboards.
Crypto Market Update
Despite a generally sluggish start to November, a handful of assets have gone vertical. Internet Computer (ICP) stands out, surging nearly 200% over the past week, while Zcash (ZEC) has stunned market watchers with a 72% week-to-date jump—soaring from $53 at September’s close to above $654 and rocketing into the number 13 spot by market cap, a staggering 1000%+ move.
With the U.S. trading day dawning, Bitcoin remains resilient above the psychological $100,000 mark—a level tested intraday but never lost on a daily close. This resilience, particularly as weekend volume wanes, puts the spotlight squarely on support: can it hold, or is a breakdown brewing? History suggests repeated tests eventually wear out defenses. Bulls need to watch this area like hawks.
Ethereum paints a different picture, down 15% for the week at $3,300. There’s little new on the ETH chart, but a dip below current support could open the door toward $2,900, with resistance just north at $3,400.
Institutional flows are once again in play. After six days of net outflows, spot Bitcoin ETFs saw $240 million in net inflows on November 6, while Ethereum ETFs posted inflows of $12.51 million, their first positive day in a week. Could this mark a pivot point, signaling seller exhaustion? It’s a thread worth pulling.
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Crypto Sector News: Asia, Regulation, and Market Structure
Japan’s Financial Services Agency is backing a pilot with MUFG, SMBC, and Mizuho for a yen-backed stablecoin—the first under its Payment Innovation Project (PIP). This multi-bank collaboration will test both the legal and operational viability of stablecoins, kicking off in November.
Japan’s global lead is mirrored by Canada, where the 2025 budget includes draft stablecoin regulation covering reserves, redemption, and risk management for issuers.
In the U.S., politics and crypto continue to collide. White House Press Secretary Karoline Leavitt confirmed Trump’s pardon of Binance founder Changpeng Zhao adhered strictly to DOJ protocols, even as Trump himself distanced from any prior relationship. Partisan narratives continue bubbling around the high-profile case.
Ripple’s $500 million funding round, led by financial titans such as Fortress, Citadel, Galaxy Digital, and others, pushed its valuation to $40 billion and spotlights sustained institutional appetite even in a choppy market.
In the UK, the Bank of England promises its digital asset regulatory framework—complete with interim asset holding limits—will align pace with the U.S., addressing industry concerns of being left behind.
Robinhood’s Q3 numbers dazzled: $1.27 billion net revenue (+100% YoY), $0.61 GAAP EPS, and a record $268 million in crypto transaction revenue (up 300% YoY). Not just surviving, but thriving.
Mastercard’s partnership with Ripple and Gemini to trial stablecoin settlement (using RLUSD on XRPL) for credit card transactions could mark a paradigm shift: regulated banks, public blockchains, and compliant stablecoins, all under one roof.
Coinbase advises the U.S. Treasury to keep non-financial software and open-source protocol developers outside the GENIUS Act’s regulatory web, focusing regulation strictly on fiat-backed stablecoin issuers. They’re also calling for “cash equivalent” treatment of payment stablecoins in tax and accounting.
Donald Trump now positions Bitcoin as part of America’s economic arsenal versus China, advocating U.S. Bitcoin “superpower” status and suggesting digital assets could support the dollar, not just disrupt it.
A sobering stat from Galaxy Research: 72 of the top 100 crypto assets remain more than 50% below all-time highs, with only a handful (BTC, LEO, ETH, BNB) showing milder drawdowns.
On the mining front, Cipher Mining raised $1.4 billion via 7.125% senior secured notes to fund next-gen data centre expansion in Texas. Completion is slated for November 13.
Bernstein reports prediction markets—legal, capitalized, and increasingly regulated—are entering the mainstream, with Robinhood already handling billions in quarterly volume. Coinbase plans to follow suit as “Everything Exchange” before year end.
Google will soon display live Polymarket and Kalshi prediction data directly in Google Finance—a sign of just how quickly crypto-native products are entering traditional financial toolkits.
Bitwise’s Spot Dogecoin ETF just took another regulatory step, filing an 8(a) for automatic listing approval unless the SEC objects.
Coinbase Europe paid a €21.5 million fine for a 2021–22 coding glitch that led to transaction monitoring lapses, citing rapid resolution and upgrades to AML systems.
In a salient quote, Coinbase CEO Brian Armstrong reminds us: “Trading hours and markets that close make no sense. Tokenised assets will fix this with instant settlement and 24/7 access.”
Takeaways for All Market Participants
From breakout rallies to regulatory horizons and product innovation, November proves yet again why digital assets keep even the most seasoned professionals on their toes. Whether navigating the legacy-crypto crossover or tracking the next breakout token, staying informed is as much about monitoring institutional flows as watching grassroots tech experiments. The sector’s pace never lets up. Strap in.
Sources: Sector statistics, regulatory releases, and company announcements referenced throughout are current as of November 7, 2025.
