- Market Commentary: On December 1, BTC experienced a high-volume plunge after a prolonged sideways consolidation at the upper range, forming a rapid downward structure and hitting a low of $86,317, confirming a short-term trend shift from sideways to bearish. ETH had been consolidating near $3,030 for several days but failed to break above resistance, with momentum gradually weakening. The price then sharply broke down near the dense moving average zone, falling to a low of $2,831.
- Popular Tokens: PIPPIN, an AI Meme token in the Solana ecosystem, rose 50.71%, driven by its AI agent framework narrative and community virality. PIEVERSE gained 16.38%, benefiting from the narrative boost after the official launch of x402b and integrations with projects such as Awe Network. HUMA Finance increased 13.23%, supported by expectations of its second-season airdrop and the accelerating PayFi sector, with a trading volume base of $8 billion.
- Alpha Insights: Cryptocurrency trading volume in November dropped to $1.6 trillion, the lowest in nearly five months. TON and the Telegram ecosystem launched the decentralized privacy computing network Cocoon. A Chainlink spot ETF is expected to launch this week, and Grayscale plans to convert its private trust into an ETF.
Discover more details today → Gate Research: November Crypto Trading Volume Falls to $1.6T | Chainlink Spot ETF Expected to Launch This Week
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