News & Research

Lucas.var, CEO of Variational, the company behind decentralized perpetual futures exchange Puffdex, said the company plans to release its trading API this month and hold a token generation event, or TGE, later this year. Lucas.var added Puffdex is preparing to launch its public mainnet, while the trading API is being rolled out in stages to a limited group of whitelisted alpha testers. A full release is scheduled for this month, and the TGE and major partnership announcements are still on track for this year.

An address estimated to belong to F2Pool co-founder Wang Chun, beginning with 0xF42B, sold about 7,740 ETH worth $18.5 million during Ethereum’s rise on Nov. 4, according to EmberCN. The average selling price was $2,390. EmberCN said Wang Chun has been buying BTC and ETH since late May. The address also deposited USDC obtained from the sale into Binance.

CoinShares Head of Research James Butterfill said a Democratic victory in the U.S. midterm elections has already been largely priced into Bitcoin and could pave the way for a relief rally as election uncertainty fades, according to Bitcoin.com News. Butterfill told Bitcoin.com News the market appears to have already anticipated Democrats taking both the House and Senate, so the result will not necessarily lead to further downside. He added crypto-related legislation could be delayed, passage of the Clarity Act could become more difficult, and political momentum could be diluted by investigations into businesses tied to President Donald Trump’s family, potentially leading to a run of negative news across the industry.

CoinMarketCap’s Altcoin Season Index came in at 46, up one point from yesterday. The index compares the price performance of Bitcoin with that of the top 100 coins by market capitalization, excluding stablecoins and wrapped coins. A reading is considered altcoin season when 75% of the top 100 coins have outperformed Bitcoin over the past 90 days, while the opposite is considered Bitcoin season. The closer the index is to 100, the more it indicates altcoin season.

Nasdaq-listed Bitcoin mining and accumulation company American Bitcoin (ABTC) announced third-quarter net income of about $126 million and adjusted EBITDA of about $220.8 million. The company’s Bitcoin holdings rose by 425 BTC, or about 5%, to around 8,427 BTC at the end of September from around 8,002 BTC at the end of June. ABTC said it expanded its holdings through mining during the quarter without issuing new shares under an at-the-market program or buying Bitcoin. Third-quarter production was about 891 BTC, down from 932 BTC in the previous quarter, while mining costs rose to about $42,100 per BTC from $36,500. The company added it sold part of its mined Bitcoin to cover operating costs while increasing its strategic Bitcoin holdings.

The three major U.S. stock indices closed higher today. - S&P 500: +1.58% - Nasdaq: +1.44% - Dow Jones: +3.03%

Bitcoin trading volume has remained above the lows recorded in August despite the recent price correction over the past several weeks, according to Glassnode. Trading volume at the time had fallen to its lowest level since 2023, but it has stayed above that level since Bitcoin’s sharp rally in August. Glassnode said investor interest in cryptocurrencies and trading participation have been maintained despite months of market indifference.

A U.S. court denied a temporary restraining order sought by the Capital Markets Alliance, a group of major exchanges and market makers, in its lawsuit over the Commodity Futures Trading Commission’s approval of stock perpetual futures, according to DeFiR. The court found the plaintiffs had not shown their member firms would suffer irreparable harm. At the same time, it said CMA’s claim that the CFTC exceeded its authority appears likely to succeed, explaining the contracts do not seem to fit the definition of security futures and more closely resemble swaps regulated by the U.S. SEC. The underlying lawsuit filed by CMA will continue, and media outlets said CMA may seek the temporary restraining order again after strengthening its argument on irreparable harm.

The number of tokenized stock and ETF products with a market capitalization of more than $1 million rose from three in January 2025 to 348, Crypto Briefing reported. The market size for tokenized stocks and ETFs also grew from about $32 million in January 2025 to $1 billion by the end of 2025, and is projected to reach $3 billion to $4.7 billion by the end of 2026. The market is led by three issuers. Binance’s bStocks accounts for $1.6 billion, or about 34% of the market, followed by Ondo Finance at about $1.29 billion, or 28%, and Backed Finance at about $1.12 billion, or 24%.

U.S. House Democrats plan to pursue a comprehensive crypto market structure bill, the CLARITY Act, centered on expanding the U.S. SEC’s oversight authority and restricting President Donald Trump’s cryptocurrency-related business activities, according to Solid Intel.