Gate Research Institute: The crypto market continues its overall pullback | Gate Connect launches the Apple Pay coin selling feature officially.

Encryption Assets Overview

BTC (+0.36% | Current Price 103,261 USDT)

BTC continued its pullback trend on November 11, dropping from a high of $106,000 to below $102,000, clearly under short-term pressure. Currently, the price has found support in the $102,000–$103,000 range and has seen a slight rebound. MA5 and MA10 are still below MA30, indicating an overall bearish structure, but the short-term downward momentum is slowing. The MACD green bars are gradually converging, with the fast line starting to approach the slow line, reflecting a weakening of bearish momentum and signs of capital inflow. If BTC can break through the resistance level of $104,600, it is expected to continue recovering to $106,000; if it falls below $102,000, it may test the support area of $99,200 again.

ETH (+0.87% | Current Price 3,448 USDT)

ETH continues to experience a pullback from its high, dropping from around $3,650 to the $3,400 area. After gaining support at $3,400, it stabilized and rebounded in the short term, with MA5 and MA10 showing signs of turning, but still operating below MA30. The MACD green bars are significantly converging, with the fast line and slow line tending to merge, indicating a weakening of downward momentum. If ETH breaks through $3,520, it could rise to around $3,650; if it falls below the $3,400 support again, it may retest the low of $3,320.

GT (+0.43% | Current Price 11.76 USDT)

GT faced pressure and fell back on November 11, dropping from above $12 to around $11.5, then experiencing a short-term rebound on November 12. The current price remains in the $11.7 range, with MA5 and MA10 turning upward, but still below MA30, indicating limited rebound momentum. The MACD double lines converge below the zero axis, with green bars gradually shortening, showing that selling pressure is easing. If it can break through $11.9 with increased volume, a short-term recovery to $12.2 is expected; if it breaks below the $11.5 support, it may retest the $11.4 low again.

Daily Price Fluctuation Tokens

In the past 24 hours, the overall cryptocurrency market continued to pull back, with the Fear and Greed Index dropping to 24, remaining in the “extreme fear” zone for several consecutive days, and investor sentiment remains low. Major cryptocurrencies are generally under pressure, with SOL falling by 7.6%, and XRP and ADA weakening in tandem. Risk aversion sentiment is rising, with short-term selling pressure being concentratedly released, market liquidity is tightening, reflecting a phase of pullback dominated by panic sentiment.

LSK Lisk (+52.65%, circulating market value 71.5143 million USD)

According to Gate market data, the current price of LSK token is $0.3363, with an increase of approximately 52.65% in the last 24 hours. Lisk (LSK) is an open platform focused on Web3 application development and blockchain scalability, dedicated to helping developers build decentralized applications (dApps) using JavaScript, and achieve lightweight deployment of a multi-chain architecture through the Lisk SDK. Its core goal is to lower the entry barrier for Web3, support cross-chain communication, and provide a user-friendly experience.

Recently, Lisk has accelerated its ecosystem expansion through the Lisk EMpower Fund and the Lisk Emerging Markets Founders Residency program, focusing on supporting the growth and implementation of emerging market projects. Among them, the stablecoin project IDRX has become an EMpower Spotlight, showcasing Lisk's layout in the regional payments and utility asset fields with its regulated, 1:1 on-chain pegging characteristics.

ALLO Allora (+10.54%, circulating market value 89.6235 million USD)

According to Gate market data, the current price of ALLO token is $0.4423, up 10.54% in the last 24 hours. Allora is a decentralized intelligent network aimed at building a Collective Intelligence Layer driven by AI models, data providers, and validators. The project provides a trustworthy infrastructure for AI and human collaboration by bringing intelligence-backed assets on-chain. Allora's core mechanisms include decentralized training, prediction market-style incentives, and a model validation network, forming a self-optimizing AI collaborative ecosystem.

The ALLO token has risen significantly in the past 24 hours, mainly driven by the following positive factors: firstly, the official launch of the mainnet marks the birth of the first Intelligence-backed Asset, significantly heating up market sentiment; secondly, the multi-chain deployment is complete, and ALLO is now connected to mainstream chains such as Ethereum, Base, and BSC through the LayerZero OFT standard, enhancing asset liquidity. Overall, this round of increase reflects the market's continued attention to the AI+Web3 narrative and the concentrated release of ecological expectations following the launch of the Allora mainnet.

CC Canton Network (+11.81%, circulating market cap 4.517 billion USD)

According to Gate's market data, the CC token is currently priced at 0.12642 USD, having risen approximately 11.81% in the last 24 hours. The Canton Network is a network focused on enterprise-level blockchain interoperability and privacy protection, dedicated to providing high-security and high-compliance Web3 infrastructure for financial institutions, enterprises, and developers. The project uses the Daml smart contract language as its core framework, supporting multi-party ledger collaboration and privacy data sharing, aiming to become a “trusted bridge” connecting traditional finance and the decentralized ecosystem.

The CC token has risen significantly in the past 24 hours, primarily driven by the following positive factors: first, the innovation in the economic model has attracted market attention, with Cantonics' fair incentive mechanism strengthening long-term value expectations; second, the expansion of the developer ecosystem, with the Builder program attracting more projects to settle in and build practical applications; third, the rising popularity of social media, with the official account frequently releasing tutorials and interactive content, boosting community engagement. Overall, this round of CC's rise reflects the market's high recognition of Canton’s new enterprise chain model centered around “privacy + compliance + developer-driven.”

Hot Spot Interpretation

The giant whale increased its holdings by 36,000 BTC in two weeks, supporting Bitcoin to hold steady at the $100,000 mark.

According to CryptoQuant data, from October 24 to November 7, the holdings of Bitcoin whales doubled in just two weeks, accumulating an increase of over 36,000 BTC. This wave of concentrated buying occurred during a brief market correction, showing that large investors actively accumulated at low levels to provide strong support for the price. The continuous inflow of whale funds has strengthened market confidence in terms of sentiment, allowing BTC to maintain a strong oscillation pattern around $100,000, with no obvious signs of selling pressure.

Observing on-chain data, this round of accumulation is mainly concentrated among long-term holders and institutional wallet addresses, indicating that the market's recognition of Bitcoin's long-term value remains high. Analysts point out that if this trend continues, the supply side of BTC will further tighten, pushing the price into a new upward cycle. At the same time, as the market's concerns about macro risks diminish and ETF inflows stabilize, the accumulation behavior of whales may become a key catalyst for the next phase of the market.

Daylight and Plasma join forces to promote the financialization of decentralized energy.

The decentralized energy network Daylight announced a strategic partnership with Plasma, aiming to promote the financialization of energy assets through on-chain infrastructure. According to the agreement, Daylight will issue the income-generating asset GRID on Plasma, which will be used for the financing and expansion of distributed energy network construction. This asset will be issued by M0, adopting a fully collateralized mechanism and supporting instant redemption features to ensure fund security and liquidity. This collaboration marks a deep integration of decentralized finance (DeFi) with energy infrastructure, introducing a more transparent and efficient capital support path for green energy projects.

At the same time, GRID holders can further mint sGRID to participate in the distributed energy revenue distribution of Daylight, thus forming an on-chain closed-loop economic model of “financing - power generation - revenue”. This move not only lowers the entry threshold for traditional energy investments but also provides new financing channels for renewable energy. Plasma, as a high-performance public chain, will provide Daylight with high throughput and low-cost transaction support, enhancing asset liquidity and market scalability. The industry generally believes that this cooperation is expected to become an important demonstration case in the “green finance + Web3” field, accelerating the tokenization of energy assets and the maturity of the decentralized energy economy.

Gate Connect has officially launched the Apple Pay cryptocurrency selling feature, leading the implementation of Web3 payment scenarios.

According to the official announcement, the global leading encryption asset platform Gate has announced that its self-operated deposit and withdrawal channel Gate Connect has officially launched the Apple Pay selling function, becoming the first Web3 exchange to support this feature. Users can directly sell encryption assets within the Gate App through Apple Pay and instantly withdraw to their linked Visa or Mastercard debit or credit cards, achieving seamless fiat currency collection. With the native encryption system of Apple Pay and Gate's quadruple security verification mechanism, the entire transaction process achieves dual protection in terms of security and convenience, significantly enhancing user experience.

Currently, Gate Connect fully supports various payment methods such as Apple Pay, Google Pay, bank card payments, SEPA, and PIX, continuously expanding its global payment network. The launch of this feature not only reflects Gate's technological leadership in the encryption payment ecosystem but also signifies another important implementation of its “All in Web3” strategy. By bridging on-chain assets with real-world payment systems, Gate is accelerating the democratization and integration of encryption finance into daily life, providing users with more flexible, secure, and efficient asset circulation pathways.
Reference Material:

• 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/en/cryptocurrency-heatmap
• X, https://x.com/Plasma/status/1987926351211360724?s=20
• Gate, https://www.gate.com/help/guide/functional_guidelines/48104
• X, https://x.com/cryptoquant_com/status/1987861044124110900/photo/1

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Disclaimer Investing in the cryptocurrency market involves high risks, and it is advised that users 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 caused by such investment decisions.