This Week on web3 5min recap

Market information, major news, and fundraising status for 11/2~8.

Good morning.
Mitsui from web3 researcher.

Every Monday is a summary article about the web3 market for the past week.We pick up news from over 20 national and international media outlets and newsletters.Please use it to catch up on information and trends!

💥News Pickup
📊Market &News (L1, L2, DeFi, NFT, GameFi, Other)

💥News Pickup

1,Bitcoin Surpasses Record High of $74,000

• BTC price surges to all-time high following Trump's inauguration as U.S. president

• Since the start of trading on Bitcoin EFmo January 11, the ETF has reached more than $450 billion in cumulative daily trading volume as of October 28

2,OpenSea CEO Teases New Platform Built "From the Ground Up"

• OpenSea CEO Devin Finzer says new platform built from scratch will launch next month

• The announcement of the new platform comes after OpenSea laid off half its staff almost a year ago, and Finzer said the company has begun development of "OpenSea 2.0"

• OpenSea has regained market share lost to Blur in recent months, but the overall NFT market is in decline

3,Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos, and Robinhood Partner to Introduce Global Dollar Network

• The Global Dollar Network aims to accelerate the adoption of stablecoins worldwide and promote new use cases for the stablecoin USDG.

• Paxos plans to issue USDG from Singapore in accordance with the regulations of the Singapore financial authorities

• The token is available on Ethereum and will be issued on other blockchains in the near future

• Launched to solve the challenges of the stablecoin industry, cooperating partners will receive up to 100% of the revenue generated by USDG-backed assets held on the platform

4,Polymarket's Accurate Prediction of Trump Victory Highlights Gap Between Mainstream Media and Polling Agencies

• Polymarket Predicted Donald Trump's Victory Hours Before Major Media Networks Released Their Predictions, Highlighting Accuracy of Market-Driven Insights

• By midnight Eastern Standard Time, Polimarket indicated a 97% probability of a Trump victory, far outpacing news outlets such as CNN and The New York Times, which delayed their announcements in key battleground states

• On the eve of the election, Polimarket's odds of a Trump victory were already diverging from mainstream polling models that had predicted the race to be roughly 50/50 even.

• The numbers were criticized by some media outlets as arbitrary, but they turned out to be right on the money.

5,Hamster Combat player count down 85%.

• Hamster Combat users drop from 300 million to 41 million in three months

• HMSTR token price has dropped more than 70% since September, from $0.0084 to $0.0023

• The number of subscribers to the Hamster Combat Announcement Telegram channel has been steadily declining since September, losing about 150,000 to 200,000 subscribers daily

• In addition, tokens in other tap-to-earn games have also declined significantly over the past seven days, down an average of 20 percent

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📊Market & News

⛓️L1 Blockchain

Token prices have been rising overall this week, due in part to the Trump inauguration effect.

• TON Foundation Launches Society DAO to Promote Distributed Governance and Ecosystem Growth

• Solana's monthly active address count hit a record high in October, exceeding 120 million.

• Bitcoin Surpasses Record High of $74,000 as Trump Takes Early Lead on Election Day

• Avalanche Foundation buys back $52 million worth of AVAX tokens from de Quong's dissolved "Luna Foundation Guard"

• ETH to BTC market cap ratio drops to 24.52%, lowest level since April 2021

• Ethernet Launches Mecontestnet, Previews Pectra Fork Update

⛓️L2 Blockchain

TVL is rising across the board.

💰DeFi

DeFi's TVL also recovered significantly this week.

• Pump.fun hits record revenue amid AI and meme coin frenzy, surging to $30.5 million in October.

• Aave, Uniswap, and other DeFi tokens soar following Trump's victory in the US presidential election

• Curve proposes giving 10% of crvUSD revenue to treasury crvUSD holders

• Trump's WLFI sales target cut 90% due to weak demand

• Wintermute proposes fee changes for Ethena sENA holders

🖼️NFT

Transaction volume has recovered by 10%, especially NFTs on Bitcoin.

• OpenSea CEO teases new platform built "from scratch" a year after version 2.0 talk

• NFT market posts 18% sales growth in October, Solana leads

🎮GameFi

UAW depends on the title; GameFi varies by title regardless of market conditions.

• SuiPlay0X1, a Sui-enabled portable gaming console, to release fighting game Samurai Spirits R

• Hamster Combat player count down 85% after 3 months

Memes

The top memes are up across the board - Doge is up 23% and Neiro is up 50%.

• What is Pnut? A meme coin that dances to the tune of Elon Musk

• More than 75% of meme coins were created in 2024, but 97% have disappeared.

• Market capitalization of tokens unintentionally created by ZachXBT reaches $3.4 million

• Daos.fun's top 'memefunds' market cap plummets, 'ai16z' falls 80% in past 7 days

• Degens dives into meme coin trenches to bet on election

Dapps-related

• Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos and Robinhood join forces to introduce Global DollarNetwork.

• Stable Coin Payment Bridge Acquires Wallet API Provider Triangle

• US Presidential Election Winner Forecast Market Surpasses $3 Billion in Polymarkets the Day Before Election

• Polymarket's 5-day volume exceeds overall 2023 volume

• Animoka Brands Research predicts polymarket users will likely continue after the US election

• Polymarket's Accurate Prediction of Trump Victory Highlights Gap Between Mainstream Media and Polling Agencies

State, Legal & Regulatory Affairs

• NFT Developer Pleads Guilty to $400,000 "Rag Pull," Laundering, Wire Transfer Fraud

• BIS withdraws from China-led "Central Bank Digital Currency" project

• British pension related company Carlite incorporates bitcoin into pension fund portfolio

• Taiwan's FSC to introduce new standards for listing crypto assets in regulations coming into effect next year

• Coinbase CEO Brian Armstrong: "From a policy perspective, cryptocurrencies are here to stay"

• a16z crypto pledges $23M to FairShake PAC for cryptocurrency-backed candidates in 2026 US midterm elections

Other

• Franklin Templeton Deploys "On-Chain US Government Money Fund" to Ether L2 "Base"

• Total Token Unlocks in November Down 52% Month-Over-Month to $2.7 Billion Size

• LABITCONF Conference in Argentina Announces Satoshi Nakamoto to Reveal Himself

• Metaplanet, which holds 10 billion yen worth of bitcoin, is included in the global index BLOCK.

• Strive Launches Bitcoin-Integrated Asset Management Service

• Founders of Binance, Coinbase, and Tron Clash Over Exchange Listing Fees

• German telco Deutsche Telekom subsidiary tests BTC mining using surplus energy

• Etherium Foundation Researcher Resigns from EigenLayer

• Cow Protocol (COW) and Cetus Protocol (CETUS) to be listed on Binance

• SWIFT, UBS, Chainlink and others complete pilot for tokenized fund settlement

• BlackRock's Spot Bitcoin ETFs Record $4 Billion in Election Day Trading

• NTT Digital to Tokenize Amazon Sellers' Accounts Receivable, Showcase in Singapore

• Cabinet, a blockchain node operator, launches "Web3 Business Creation Solution" for businesses.

• Melcoin, crypto asset trading revenue up nearly 9x year-over-year

• Tether CEO denies speculation of launching the Tether blockchain "at this time"

• JP Morgan launches instant Eurodollar conversion on the blockchain

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Disclaimer：I carefully examine and write the information that I research, but since it is personally operated and there are many parts with English sources, there may be some paraphrasing or incorrect information. Please understand. Also, there may be introductions of Dapps, NFTs, and tokens in the articles, but there is absolutely no solicitation purpose. Please purchase and use them at your own risk.

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About us
🇯🇵🇺🇸🇰🇷🇨🇳🇪🇸 The English version of the web3 newsletter, which is available in 5 languages. Based on the concept of ``Learn more about web3 in 5 minutes a day,'' we deliver research articles five times a week, including explanations of popular web3 trends, project explanations, and introductions to the latest news.

Author
mitsui
A web3 researcher. Operating the newsletter "web3 Research" delivered in five languages around the world.

Contact
The author is a web3 researcher based in Japan. If you have a project that is interested in expanding to Japan, please contact the following:

• X：@web3researchgl

• Telegram：@mitsui0x

*Please note that this newsletter translates articles that are originally in Japanese. There may be translation mistakes such as mistranslations or paraphrasing, so please understand in advance.