Latest Crypto Market Update Nov 1: Zcash Soars 16%, PENGU Dips 5%

Crypto Market Update Today: Coinbase Eyes BVNK Deal, Tether Q3 Report

Overall Crypto Market Update:

• The global cryptocurrency market cap stands at $3.77 trillion, marking a 1% increase in the last 24 hours.

• Daily trading volume reached $150B

• Bitcoin remains the leader with a 57.9% dominance, while Ethereum holds a 12.3% share.

• A total of 19400 cryptocurrencies are currently being tracked.

• The largest gainers of the Industry are XRP Ledger Ecosystem and Tokenized private credit

24 Hour Crypto Market Update

Bitcoin (BTC) and Ethereum (ETH) Price:

• Bitcoin is currently priced at $109,592, representing a 0.1% rise in the past 24 hours. With $54 billion in trading volume and a $2.1 trillion market cap, BTC continues to dominate cryptocurrency globally.

• Ethereum trades at $3836.71, with no change in the last 24 hours, with a $463 billion market cap and $31.17 billion in trading volume.

Top 5 Trending Coins:

• Zcash (ZEC) surged 15.6% to $403.01 with TV $1.4 billion

• Virtuals Protocol (VIRTUAL) soars 14.7% to $1.55 with TV $451 million 

• Ethereum (ETH) up 0.3%  to $3836.6 with TV $54 billion.

• Pudgy Penguins (PENGU) dips 5% to $0.01798 with TV $164 million  

• Horizen (ZEN) rose 33% to $15.71 with TV $275 million

 Top 3 Gainers:

• Figure Heloc (FIGR_HELOC) rose 346.2% to $1.04 with a trading volume of $175.55M.

• Hivemapper (HONEY) gained 39.0% to $0.013 with a trading volume of $14.39M.

• Niza Global (NIZA) surged 34.1% to $0.07079 with a trading volume of $1.00M.

Top 3 Losers:

• Jelly-My-Jelly (JELLYJELLY) fell 34.2% to $0.1057 with a trading volume of $113.7M.

• ChainOpera AI (COAI) dropped 23.5% to $1.44, recording a trading volume of $132.7M.

• Impossible Finance Launchpad (IDIA) slipped 21.0% to $0.04687 with a trading volume of $750K.

Stablecoins and Defi Update:

• Stablecoins hold a market cap of $311 billion with $114 billion in trading volume, representing a 0.1% negative change.  

• The DeFi market cap stands at $137 billion, up 1% in the last 24 hours, with a trading volume of $7.1 billion. DeFi dominance remains at 3.6%.

Fear and Greed Index Today

Source: Alternative Me

The Fear & Greed Index currently stands at 33, indicating market fear. Sentiment has slightly improved from 29 yesterday but remains weaker than 37 last week. A month ago, the index was at 64 (Greed), showing a significant shift as traders have become more cautious amid recent crypto market volatility and price corrections.

Latest Market News Today

• Bitcoin Reserve News:  Steak 'n Shake has announced a strategic Bitcoin reserve, with all Bitcoin payments added to it. The fast-food chain will also donate 210 satoshis from each Bitcoin meal sale to the OpenSats Initiative over the next year.

• Streamlined Master Account:  The U.S. Tenth Circuit Court of Appeals has rejected Custodia Bank’s appeal for a Federal Reserve master account, affirming the Fed’s authority to decide independently. Meanwhile, Fed Governor Chris Waller suggested a “streamlined master account” option for crypto institutions.

• Coinbase BVNK News: Coinbase is reportedly in late-stage talks to acquire stablecoin infrastructure startup BVNK for about $2 billion. The deal could close by year-end or early 2026. Stablecoins made up 20% of Coinbase’s Q3 revenue.

• Tether Q3 Report:  Tether’s Q3 2025 report shows over $10B profit this year and a record $135B in U.S. Treasuries, ranking it 17th globally. With $174B USD₮ in circulation and $6.8B reserves, Tether eyes AI and renewable energy ventures.

• Stablecoin:  Global regulators are revisiting banking rules for crypto assets, especially stablecoins, ahead of next year’s rollout. The 2022 Basel standards faced criticism for strict capital demands, prompting a US-led push to ease restrictions amid rapid stablecoin growth.

• Conexus to Integrate Bitcoin and Stablecoins:  Venezuelan payments giant Conexus, which handles nearly 40% of the nation’s electronic transfers, is developing a system to let banks offer Bitcoin and stablecoin (USDT) custody, transfers, and fiat conversion—launching by December 2025.

• Binance Supports AI16Z Rebrand to ElizaOS: Binance Alpha and Futures will support the AI16Z token’s rebrand and redenomination to ElizaOS. Trading pauses on November 6, 2025, for a 1:6 token swap. AI16Z was a leading AI Agents project.

• SBF Claims FTX Was Solvent, Faces Criticism from ZachXBT:  Sam Bankman-Fried asserted FTX was never insolvent, saying all creditors are repaid up to 143%. ZachXBT countered, accusing SBF of misleading statements since repayments were based on 2022 crypto prices, not current, higher values.

CoinGabbar’s Opinion

The overall cryptocurrency shows mild recovery but remains in fear (Index 33), signaling investor caution. Bitcoin and Ethereum are safest for long-term holding, while altcoins remain highly volatile. 

Stablecoins offer short-term security. With regulatory uncertainty and market swings, investors should avoid risky bets and prefer disciplined, long-term investing in established projects until sentiment improves.

Disclaimer: Coingabbar provides informational content on cryptocurrencies, NFTs, and other decentralised assets. This is not financial advice. Users, please DYOR, understand the risks, and consult financial professionals before investing. CoinGabbar is not responsible for any financial losses. Crypto and NFTs are highly volatile—invest wisely.