Gate Research Institute: Participate in the new token offering to share 70,000 PIGGY Airdrop | Ethereum official date set for December 3 for Fusaka upgrade

Crypto Market Overview

• BTC (-0.87% | Current Price 109,602 USDT): In the past 24 hours, BTC experienced a rapid pullback from its high and a subsequent short-term rebound, with prices falling from around 116,388.8 USD to an intraday low of about 106,286.5 USD, finding support at the low and rising back to approximately 109,602.7 USD; short-term moving averages indicate that short-term buying is entering the market, forming an initial short-term golden cross, suggesting that short-term bullish momentum is beginning to recover at the low, but the MA30 is still in a downward trend and poses resistance near the current price, indicating that the overall trend has not yet completed its reversal; if it can stabilize in the 109,000–109,500 USD range in the next 24 hours with increased trading volume, there is a short-term possibility to challenge the resistance at 111,000 USD and validate the trend reversal; conversely, if it encounters resistance near the MA30 and trading volume decreases, it may retest the support around 107,000–107,500 USD or even revisit the intraday low. Therefore, the short-term bias leans towards a corrective rebound, but when following buy-ins, one should focus on volume confirmation and gradual accumulation, strictly controlling the risk of pullback.
• ETH (-1.99% | Current price 3,845 USDT): After continuing the overall downward trend, ETH shows signs of stopping the decline at a low level. The price has fallen from a high of about $4,253.53 to a low of $3,679.61, and then gained support in this range, rebounding to the current price of about $3,845.05. In terms of short-term moving averages, MA5 has crossed above MA10, forming an initial golden cross signal, indicating signs of short-term capital inflow; however, MA30 remains downward, reflecting that the medium-term trend is still weak, and the current price is attempting to break through this moving average resistance. From the market structure perspective, the recent decline of ETH has been accompanied by increasing volume, while the trading volume during the low-level rebound phase has gradually converged, indicating intensified market competition between bulls and bears, with a focus on technical correction in the short term. If the price can stabilize in the range of $3,820–$3,850 and break through MA30 with volume, there is hope to test the resistance zone of $3,900–$3,950; conversely, if the price struggles to rise and falls below $3,780 again, it may retest the support near $3,700.
• Altcoins: Most mainstream altcoins are experiencing slight declines, with market sentiment mainly being “neutral” or “buying”. The Fear and Greed Index today reports 29, still in the panic zone, indicating that market sentiment is relatively pessimistic, and most users are taking a wait-and-see approach.
• Macro: On October 30, the S&P 500 index fell by 0.99% to 6,822.34 points; the Dow Jones index fell by 0.23% to 47,522.12 points; the Nasdaq index fell by 1.57% to 23,581.14 points. As of October 31, 11:50 AM (UTC+8), the spot gold price is reported at $3,996 per ounce, with a 24H decline of 0.70%.

Trending Tokens

JELLYJELLY Jelly-my-jelly (+40.56%, circulating market value 159 million USD)

According to Gate's market data, the current price of the JELLYJELLY token is $0.1606, having risen approximately 40.56% in the last 24 hours. JELLYJELLY is a token running on the Solana blockchain, with a total supply of about 999 million tokens, co-founded by Venmo co-founder Iqram Magdon-Ismail and early investor Sam Lessin. The token is associated with a video clip sharing application called JellyJelly, where users can capture clips from video calls to share and utilize AI features to generate subtitles and summaries. Holding JELLYJELLY grants early access to the platform and is expected to be used in the app for tipping, content promotion, or ecosystem governance in the future.

One important trigger for the recent rise of JELLYJELLY is its official announcement of the Beta testing of the application, which strengthens the binding of the token with application scenarios, thereby stimulating the attention of the community and short-term funds. At the same time, media reports about significant price increases and whale purchases have also accelerated market expectations. However, despite these advancements, there is still a lack of substantial announcements regarding the launch of specific functions or partnerships, so the subsequent trend still needs to be observed in terms of the actual launch of the application and user growth.

AURORA Aurora (+36.58%, circulating market cap 6.443 million USD)

According to Gate.io market data, the current price of the AURORA token is $0.0989, having risen 38.38% in the last 24 hours. Aurora is an EVM based on the NEAR protocol that provides developers with a turnkey solution to run their applications on a platform that is compatible with Ethereum, has high throughput, is scalable, and is future-safe, while offering users low transaction costs. Aurora is a product that helps Ethereum users and dApps easily migrate to the NEAR blockchain. It allows users to do two different things: upload Solidity smart contracts to the NEAR blockchain and interact with them, and move assets between Ethereum and NEAR (including ERC-20 tokens).

In the past 24 hours, the price of Aurora (AURORA) tokens has risen significantly, mainly due to a surge in trading volume, improved market sentiment, and positive news regarding the ecosystem. Recently, Aurora's official team announced the continued advancement of its token burning and ecosystem incubation plans, drawing the attention of investors. At the same time, on-chain activity and DEX trading volume have increased, indicating a short-term inflow of funds. Overall, this rise is more driven by market sentiment and technical factors rather than changes in long-term fundamentals.

CCD Concordium (+30.02%, circulating market cap 5.485 billion USD)

According to Gate's market data, the current quote for the CCD token is $0.0246, up about 30.02% in the last 24 hours. Concordium is an innovative proof-of-stake blockchain rooted in scientific principles. It is the first blockchain to incorporate self-sovereign identity directly into its protocol. This unique feature's design complies with regulatory standards, making Concordium a catalyst for unlocking business transactions through blockchain technology. Notably, Concordium ensures that transactions are irreversible within seconds, guaranteeing the finality of transactions while keeping transaction fees at a continuously low and stable rate linked to the euro.

In the past 24 hours, there have been signs of increased trading volume for CCD, indicating a growing interest in the project's ecosystem. Coupled with recent ecosystem announcements and increased on-chain activity, its price may receive some support. However, as of now, there have been no significant large-scale positive developments, and future trends will still need to focus on progress in compliance identity verification and enterprise applications.

Alpha Interpretation

Strategy Q3 profit fell to $2.8 billion, Bitcoin premium hit 18-month low.

MicroStrategy (MSTR) reported a third-quarter profit of $2.8 billion, a significant drop from the record $10 billion in the previous quarter, attributed to waning momentum in the late-summer Bitcoin rebound and a continued narrowing of the company's valuation premium. Nonetheless, the diluted earnings per share of $8.42 still exceeded analysts' expectations of $8.15, marking the weakest quarter since adopting fair value accounting in January this year. MicroStrategy's stock price briefly fell to a six-month low during the day but rose about 4% in after-hours trading following the earnings report; during the same period, the Bitcoin price was around $107,000, down approximately 15% from early October's historical high.

As the world's largest Bitcoin treasury company, Strategy added approximately 43,000 Bitcoins this quarter, bringing its total holdings to 640,800 Bitcoins, with a total value nearing $6.9 billion, though the increase is the lowest this year. The company continues to rely on high-yield preferred stocks (such as STRC) for financing, and the yield on Bitcoin financing tools has risen to 10.5% to maintain investor demand and support Bitcoin accumulation, even as its stock price and mNAV premium tighten.

Ethereum official scheduled date for December 3rd Fusaka upgrade

Ethereum Foundation researchers have officially announced that the next major mainnet upgrade, Fusaka, will go live on December 3rd. This upgrade has previously been deployed on the Holesky, Sepolia, and Hoodi testnets, maintaining backward compatibility, and will implement approximately 12 Ethereum Improvement Proposals (EIPs) to enhance the sustainability, security, and scalability of the main chain and Layer 2 ecosystem.

The most important improvements in the Fusaka upgrade include Peer Data Availability Sampling (PeerDAS), which provides validators with a more efficient way to access data, and raising the block gas limit from 30 million to 150 million units, which is expected to quickly double the blob capacity. The Ethereum Foundation previously launched a four-week audit competition, offering a reward of up to $2 million to security researchers who discover vulnerabilities, to ensure a smooth mainnet upgrade.

Ethereum rebounded in the evening after the pullback, with a narrowing trading range.

Ethereum experienced a brief pullback before rebounding in the evening, with increased trading activity. The recent range has narrowed, bringing nearby key levels back into focus. ETH dropped from $3,921 to $3,731 during the day, then rebounded to $3,771, reclaiming resistance around $3,760, indicating that buyers are gradually stepping in. Trading volume is 32% higher than the seven-day average, primarily driven by moderate buying rather than a clear short squeeze.

The technical analysis shows that the Ethereum short-term trading range is approximately $3,730 to $3,880, with major resistance levels concentrated between $3,840 and $3,880, and key support at $3,731. Core developers still plan to implement the Fusaka upgrade on December 3.

Gate Launchpool

New Listing Details

Subscription Project: Piggycell

Token Name: PIGGY

New subscription time: Until November 6, 2025, 20:00 (UTC+8)

Participation method: Stake PIGGY or GUSD to receive for free.

Total airdrop amount: 70,000 PIGGY

Project Introduction

Piggycell is a decentralized physical infrastructure and real-world asset project aimed at transforming a nationwide mobile power-sharing network into a Web3 ecosystem. By linking real-world charging activities with on-chain data, Piggycell constructs a transparent and reward-driven infrastructure. Users can earn daily incentives through a charging reward mechanism, NFT ownership, and gamified tasks, achieving a seamless connection between physical infrastructure and blockchain. The platform is dedicated to converting real practical value into digital assets, allowing Web3 technology to naturally integrate into daily use scenarios. Piggycell pioneers a new paradigm of decentralized infrastructure, organically combining physical commerce with tokenized incentive mechanisms. <br> References:

• Gate, https://www.gate.com/trade/BTC_USDT
• Farside Investors, https://farside.co.uk/btc/
• Gate, https://www.gate.com/trade/ETH_USDT
• Farside Investors, https://farside.co.uk/eth/
• Gate, https://www.gate.com/crypto-market-data
• Investing, https://investing.com/indices/usa-indices
• Investing, https://investing.com/currencies/xau-usd
• CoinGecko, https://www.coingecko.com/categories
• Coindesk, https://www.coindesk.com/markets/2025/10/30/eth-selloff-meets-late-bounce-as-volume-climbs-range-tightens-as-risk-appetite-plunges
• The Block, https://www.theblock.co/post/377038/strategy-q3-profit-drops-bitcoin-rally-fades-mnav-premium-compresses
• The Block, https://www.theblock.co/post/377065/ethereum-devs-officially-target-dec-3-for-fusaka-upgrade
• Gate, https://www.gate.com/launchpool/PIGGY?pid=424

<br> Gate Research Institute is a comprehensive blockchain and crypto market research platform that provides readers with in-depth content, including technical analysis, hot insights, market reviews, industry research, trend forecasts, and macroeconomic policy analysis.

Disclaimer Investing in the crypto market involves high risks, and users are advised to conduct independent research and fully understand the nature of the assets and products they are purchasing before making any investment decisions. Gate does not take any responsibility for any losses or damages resulting from such investment decisions.