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The on-chain data analysis platform Glassnode announced that the supply of stablecoins is rapidly contracting, with a total supply decrease of 17 billion dollars over the past month, marking the largest decline since 2022. Glassnode stated that holders are converting stablecoins into fiat currency, withdrawing purchasing power that could be used for Bitcoin and the crypto market. Glassnode also mentioned that a bull market requires funds to enter this ecosystem, rather than leaving.

According to Coinglass data, the total contract open interest for BTC has decreased by 5.08% in the past 24 hours, with the current total open interest at 45.934 billion USD. Among them, Binance's open interest is 9.436 billion USD, OKX's open interest is 3.183 billion USD, Bybit's open interest is 5.649 billion USD, and Gate's open interest is 3.987 billion USD.

According to Cloverpool data, the Bitcoin mining difficulty experienced an adjustment at block height 975744, with a decrease of 9.13%, from 148.36 T to 134.82 T.This is the largest single decrease since the adjustment of 10.09% on June 14. The previous two difficulty adjustments were increases of 5.54% and 5.92% on October 29 and October 16, respectively.

According to Coinglass data, the total contract open interest for ETH has decreased by 6.25% in the past 24 hours, with the current total open interest at 23.36 billion USD. Among them, Binance has an open interest of 7.392 billion USD, OKX has an open interest of 1.621 billion USD, Bybit has an open interest of 1.659 billion USD, and Gate has an open interest of 1.423 billion USD.

Bitwise CEO posted on platform X, stating that the minimum amount for physical Bitcoin ETF trading is now $1 million, significantly reduced from $50 million a year ago. He thanked the team and partners for their efforts in expanding participation channels.

According to Bitcoin Magazine, Robinhood announced its operational data for October, with nominal trading volume in crypto assets at $17 billion, a decrease of 21% month-over-month and a decrease of 48% year-over-year, compared to $32.5 billion in the same period last year.This data covers both the main Robinhood app and the crypto exchange Bitstamp, acquired in 2025. The trading volume on the Robinhood app fell to $6.8 billion, down 24% month-over-month and down 51% year-over-year; Bitstamp recorded $10.2 billion in transactions, down 18% month-over-month and down 45% year-over-year. The average daily crypto trading volume across both platforms was $548 million, lower than September's $713 million and last year's approximately $1.05 billion; the average daily transaction count was about 700,000, compared to 900,000 in September and 1.1 million in October last year.In contrast to the crypto business, the prediction market saw growth. In October, users completed 5.9 billion event contracts, an increase of 5% month-over-month and an increase of 136% year-over-year, compared to 2.5 billion contracts in the same period last year, with an average daily transaction of 190 million contracts. Robinhood aggregates crypto and prediction market statistics over a 31-day calendar, allowing users to bet on outcomes related to elections, sports, and economic data.During the same period, nominal stock trading volume increased by 2% year-over-year to $325 billion, with options contracts totaling 289 million, an increase of 8% year-over-year; margin balances were $22.9 billion, an increase of 39% year-over-year. The number of funded customers increased by about 130,000 to 2.89 million, with net deposits of $15.1 billion, and total assets on the platform were $383 billion, down 3% month-over-month and up 12% year-over-year.The decline in crypto trading volume coincides with a general retreat of retail investors. Bitcoin closed at about $83,500 at the end of September and has continued to decline, dropping below $70,000 for the first time since August on Friday morning, following a higher-than-expected inflation report that raised market bets on a Federal Reserve rate hike in December. The U.S. spot Bitcoin ETF saw net outflows for the sixth consecutive trading day on Thursday, with the largest, BlackRock's IBIT, experiencing outflows of about $2 billion over the nine trading days ending Wednesday, erasing all net inflows for the spot Bitcoin ETF in 2026.Robinhood did not specify the reasons for the decline in crypto trading volume; this monthly data is unaudited and preliminary. The company obtained a license in Dubai in October and will offer Bitcoin and stock trading in the Middle East starting in 2027; during the month, cash and deposit balances fell by 20% to $16.4 billion, which the company attributed mainly to customers being net buyers, a decline that has largely reversed by early November.

According to Bloomberg, Kraken's parent company Payward reported an adjusted EBITDA of $60 million for the third quarter, a 67% year-over-year decline, but a 163% increase compared to the second quarter. The platform's total revenue was $487 million, a 12% year-over-year decline, but a 12% increase quarter-over-quarter; the platform's total trading volume decreased by 30% year-over-year to $353 billion.While trading volume declined, the number of funded accounts at Payward increased by 37% year-over-year to 7.1 million, defined as accounts with a balance greater than zero. Bitcoin surged about 40% from mid-August to early October, but subsequently fell again due to concerns about inflation and the impact of the U.S. midterm elections on the industry. Trading fees are a major source of revenue for many cryptocurrency trading platforms, and falling coin prices often suppress trading activity.To broaden its revenue sources, Payward is expanding its stock tokenization business and plans to offer on-chain perpetual contracts to U.S. customers after obtaining regulatory approval. The company reached an agreement to acquire Saldo Bank in October; Kraken also plans to enter the UAE market after receiving full approval from Dubai regulators. The shareholder letter also disclosed that Payward plans to enter the prediction market and issue its own token, but no timeline was provided.Earlier this year, Payward laid off about 150 employees under the pretext of using AI to improve efficiency. According to previous reports from Bloomberg, its IPO may not occur until 2027. The performance of other exchanges has also shown divergence: Gemini's revenue in the third quarter decreased by 19% year-over-year, but losses narrowed; Coinbase's revenue decreased by 35% year-over-year, but it returned to profitability.

According to Coinglass data, the total contract open interest for BTC has decreased by 5.21% in the past 24 hours, with the current total open interest at 48.441 billion USD. Among them, Binance's open interest is 10.178 billion USD, OKX's open interest is 3.439 billion USD, Bybit's open interest is 5.838 billion USD, and Gate's open interest is 4.594 billion USD.

According to a report released by ChannelGate, a public account under BoBanTang, starting from the fourth quarter of 2026, AMD's supply of gaming graphics cards for the Chinese market will decrease by approximately 20% to 50%, and the supply tightness may continue until January next year. The report states that the number of GPUs that AMD's authorized graphics card partners can obtain each month is also decreasing, with specific supply quantities being uncertain.The related news involves AMD's supply arrangements for gaming graphics cards in the Chinese region for the fourth quarter of 2026. Starting in October, the AMD chips available to relevant graphics card manufacturers have significantly contracted, and the specific number of chips they can obtain each month is unstable. Channel sources also indicate that the scarcity of AMD graphics cards may be approaching that of NVIDIA graphics cards, with some graphics card manufacturers receiving very limited quantities of gaming GPUs.Manufacturers such as ASUS, Sapphire, and ASRock need to obtain GPU chips, along with memory, circuit boards, and coolers to produce retail graphics cards. In addition to chip supply, there have been previous reports in the industry chain that AMD may adjust the supply prices to partners based on the costs of GPU chips and memory kits. The final retail price of graphics cards is also influenced by manufacturers' inventory, specific models, channel pricing, and market demand.

According to Coinglass data, the total contract open interest for ETH has decreased by 5.24% in the past 24 hours, with the current total open interest at 23.851 billion USD. Among them, Binance's open interest is 7.513 billion USD, OKX's open interest is 1.563 billion USD, Bybit's open interest is 1.685 billion USD, and Gate's open interest is 1.568 billion USD.

According to Unfolded, citing CFTC position report data, as of November 3, the net short position of leveraged funds in CME standard Bitcoin futures has decreased to 12,955 BTC, down 89% from the peak of 115,985 BTC on December 17, 2024, marking the lowest level since February 2023, indicating that hedge funds have significantly closed their Bitcoin basis trades.Unfolded stated that the arbitrage buying that previously boosted ETF inflows has essentially disappeared, and the capital flow into spot ETFs will more reflect genuine directional demand, with structural buying that can act as a buffer during price declines also decreasing.

According to SEC filings, Ethereum treasury company BTCS (Nasdaq: BTCS) released its Q3 2026 financial report, stating that as of September 30, it holds 49,571 ETH, with a fair value of approximately $133.1 million, down from 70,787 ETH at the end of 2025. Among these, 2,880 ETH are staked, and 46,607 ETH are deposited in DeFi protocols, with most digital assets held as collateral in Aave.In terms of finances, BTCS reported total revenue of $4.09 million for the quarter, a year-over-year decrease of 17.1%. Revenue from DeFi operations was $3.51 million, compared to $720,000 in the same period last year; revenue from blockchain infrastructure was $590,000, down from $4.22 million in the same period last year. The net profit for the quarter was $54.53 million, primarily from unrealized gains of $58.35 million in digital assets; the cumulative net loss for the first three quarters was $49.53 million.Regarding liabilities, as of September 30, BTCS's DeFi protocol borrowings amounted to $63.01 million, with convertible notes at $14.51 million; cash and cash equivalents were $460,000, and stablecoins were $860,000.

According to Glassnode data, as of November 9, the total supply of major stablecoins has decreased by approximately $14.2 billion over the past 30 days, marking the largest monthly decline since June 2022, surpassing the $9.5 billion drop that occurred when Bitcoin fell below $58,000 in July of this year. Glassnode indicates that the contraction in stablecoin supply means that holders are redeeming stablecoins for US dollars and withdrawing from the crypto market, leading to a reduction in liquidity available to drive market rallies.Among them, the largest stablecoin USDT is currently trading slightly below the $1 peg, which Glassnode attributes to investors continuously exiting the stablecoin market. CryptoQuant data shows that the demand for Bitcoin has decreased by 284,000 coins over 30 days, marking the largest decline since March 2025; the Coinbase Bitcoin premium index fell to -0.27% on October 29, the lowest level since November 2022, and as of Wednesday, it remains in negative territory, reflecting relatively weak demand and significant selling pressure in the U.S. market.

CryptoQuant analyst Darkfost stated that within less than a month, the open interest of BTC on the Binance platform has decreased from 10.6 billion dollars to 8.8 billion dollars, a drop of 17%. Meanwhile, its 180-day moving average has risen from 8.4 billion dollars to 8.6 billion dollars. As the open interest falls below the moving average, new signals of deleveraging are emerging in the market. In a bull market phase, this signal typically appears when market corrections are nearing their end, reflecting that traders are reducing their leveraged exposure, which includes both voluntary liquidations and forced liquidations due to insufficient margin.Aside from the fact that this process may last for months in a bear market, a similar signal last appeared in June of this year when the BTC price was below 60,000 dollars, subsequently rebounding to above 87,000 dollars, with an increase of over 45%. Currently, as the open interest declines, the market is also experiencing large-scale liquidations. Low volatility seems to encourage some traders to take on higher risks to compensate for the insufficient returns brought about by the narrowing price fluctuations, making them more susceptible to market reversal shocks. Over the past three months, the monthly liquidation scale on Binance has reached new highs since 2021: over 1.4 billion dollars in August, 1.1 billion dollars in September, and 1.3 billion dollars in October. This trend appears to continue into November, with the liquidation scale exceeding 520 million dollars before the end of the first half of this month.These data highlight the potential losses that leveraged trading can bring to investors. In a market environment with low volatility and shrinking trading volume, blindly increasing risk exposure due to a lack of patience can quickly lead to heavy costs. However, the deleveraging phase also helps improve the market environment. Reducing leveraged positions can lower the risk of cascading liquidations, allowing spot demand to play a greater role in market pricing, thereby helping Bitcoin establish a more robust market structure.

According to Cointelegraph, the U.S. Securities and Exchange Commission (SEC) initiated 348 enforcement actions in fiscal year 2026, a decrease of 23.7% from 456 in the previous fiscal year, marking the lowest number since 1991. The enforcement results for that year included cases involving alleged cryptocurrency fraud and failures in the audit of FTX.The SEC stated that it has charged three so-called cryptocurrency trading platforms and four investment clubs for participating in a scheme that allegedly defrauded investors of at least $14 million; in another case, the founder of a Bitcoin mining company was accused of misappropriating $48.5 million, with the company having previously raised over $95.6 million from approximately 6,400 investors. In April, the SEC reached a settlement with Francis Decker, a partner at Prager Metis, responsible for the audit of FTX, regarding the failure to meet professional auditing standards. Fiscal year 2026 was the first full fiscal year under SEC Chairman Paul Atkins, with independent enforcement actions decreasing from 303 in the previous year to 235.

According to Coinglass data, the total contract open interest for ETH has decreased by 6.99% in the past 24 hours, with the current total open interest at 24.643 billion USD. Among them, Binance's open interest is 7.741 billion USD, OKX's open interest is 1.716 billion USD, Bybit's open interest is 1.687 billion USD, and Gate's open interest is 1.689 billion USD.

According to the official announcement, the multi-asset trading platform eToro (ETOR) released its financial report for the third quarter of 2026, showing a net contribution of 186 million USD, a year-on-year decrease of 13%, mainly due to a reduction in cryptocurrency trading activity; GAAP net profit was 15 million USD, a year-on-year decrease of 74%; adjusted EBITDA was 34 million USD, a year-on-year decrease of 56%.As of the end of the third quarter, the number of funded accounts increased by 18% year-on-year to 4.39 million, with assets under management totaling 20.8 billion USD, unchanged from the same period last year.In addition, the number of cryptocurrency trades on eToro in October decreased by 62% year-on-year to 2 million trades. The eToro board also approved a stock repurchase plan of up to 250 million USD.

The on-chain data analysis platform Santiment stated that the number of non-empty Bitcoin wallets reached 59.99 million on October 16, and has since decreased by approximately 108,700. Currently, the price of Bitcoin has fallen below $75,000, reflecting that some small holders may be losing patience.Santiment pointed out that a decrease in the number of wallets does not necessarily mean that the actual usage rate of Bitcoin is shrinking. During prolonged market downturns, small traders often panic and merge wallets or liquidate holdings. This phenomenon of retail surrender has historically been a characteristic before significant rebounds in the crypto market. If the number of wallets continues to decline while the price of Bitcoin stops falling, this signal will become more bullish.

During the quarter ending September 30, 2026, Bitcoin mining company HIVE Digital Technologies produced 1,070 Bitcoins, a 49% increase from 718 Bitcoins in the same period last year. However, affected by the decline in Bitcoin prices, its mining revenue decreased by 7.4% year-on-year to $76 million, while the average Bitcoin price fell from $114,382 to $71,003.As HIVE expands its global mining capacity, its electricity costs rose from $37.9 million to $45.6 million, and due to "weak mining economics," the company recorded a non-cash impairment of $31.2 million on mining machines. During the same period, the company's high-performance computing (HPC) hosting revenue grew by 71% to $8.8 million, accounting for 10.4% of quarterly revenue. HIVE plans to invest up to $493 million to expand its HPC business over the next 36 months, having already invested $145.3 million as of the report date, and plans to spend approximately $35 million to convert its Toronto facility into a Tier-III data center.The financial report shows that HIVE's revenue for the second fiscal quarter was $84.9 million, a year-on-year decrease of 2.7%, which was higher than the market expectation of $79.4 million; GAAP net loss was $78.7 million, or $0.29 per share. HIVE's Nasdaq stock price fell 1.7% to $1.78 after hours on Monday. HIVE's performance further indicates that Bitcoin mining economics are under pressure, with American Bitcoin reporting weakened mining margins last week, and Core Scientific planning to completely exit the mining business by the end of the year.

According to the data panel on the ChainCatcher official website, regarding BTC wallet balances, in the past 7 days, among the top 10 exchanges by balance, Kraken had the largest decrease at 2.36%; Bybit had the largest increase at 3.81%.In terms of exchange asset transparency proof, in the past 7 days, the top three net outflows of reserve assets were Bitget (-$559 million), Binance (-$218 million), and Gate (-$145 million); the top three net inflows were Bybit (+$405 million), Bitfinex (+$309 million), and OKX (+$219 million).