Crypto Market Update Nov 11: Uniswap Surges 45%, Zcash Falls 15%

Crypto Market Update: US ETP Stake Crypto & Coinbase Launch Token Sale

Overall Crypto Market Update:

• The global cryptocurrency market cap stands at $3.57 trillion, marking a 0.4% increase in the last 24 hours.

• Daily trading volume reached $169B

• Bitcoin remains the leader with a 59.2% dominance, while Ethereum holds a 12.1% share.

• A total of 48307 cryptocurrencies are currently being tracked as per CMC.

• The largest gainers in the industry are Polkadot and XRP Ledger Ecosystem.

Major Crypto Events Today

Source: Forex Factory

24 Hour Crypto Market Update

Bitcoin (BTC) and Ethereum (ETH) Price:

• Bitcoin is currently priced at $106,465, representing a 0.18% rise in the past 24 hours. With $63.8 billion in trading volume and a $2.1 trillion market cap.

• Ethereum trades at $3,622.29, dipping 0.71% in the last 24 hours, with a $437 billion market cap and $33 billion in trading volume.

Top 5 Trending Coins in 24 Hours:

• Audiera (BEAT) priced at $0.1635, surged 5.66% with a TV of $1.94B,  

• Nubila Network (NB) at $0.1045 soared 12.54% with a TV of $1.19M.

• Boost (BOOST) at $0.05605, down 26.84% with TV of $1.33M.

• XRP (XRP) at $2.55, soars 6.44% with a TV of $6.29B

• Uniswap (UNI) at $9.69, gained 45.25% with TV of $2.23B

Top 3 Gainers:

• Uniswap (UNI) surged 45.7% to $9.67, with a TV of $2.26B.

• World Liberty Financial (WLFI) jumped 16.55% to 0.1523, seeing a trading volume of $935M.

• OFFICIAL TRUMP (TRUMP) gained 11.52% to 8.64, with traders exchanging about $1.9 billion today.

Top 3 Losers:

• Zcash (ZEC) is down 15.17% and is currently priced at $545.20, with a trading volume of about $4.49 billion.

• Dash (DASH) fell 11.36% to $73.46, trading around $412 million in volume.

• Internet Computer (ICP) dropped 10.51% to $6.65, with a trading volume of approximately $597 million.

Stablecoins and Defi Update:

• Stablecoins hold a market cap of $312 billion with $144 billion in trading volume, representing a 0.3% positive change.  

• The DeFi market cap stands at $136 billion, up 3.8% in the last 24 hours, with a trading volume of $11 billion. DeFi dominance remains at 3.7%.

Fear and Greed Index Today

Source: Alternative Me

The Crypto Fear & Greed Index today stands at 26, indicating “Fear”. This suggests cautious investor sentiment, as traders are hesitant and risk-averse. 

Compared to yesterday (29, Fear), the sentiment has slightly worsened, while last week and last month, it was in Extreme Fear at 21 and 24, respectively. Investors remain wary.

Latest Market News Today

1. US ETPs Get Green Light to Stake Crypto:

The US Treasury and IRS issued guidance allowing crypto ETPs to stake digital assets and distribute rewards to retail investors. The move provides regulatory clarity, encourages innovation, and promotes broader staking adoption in the U.S.

2. Uniswap Proposes Major Governance Upgrade:

Uniswap Foundation and Labs propose UNIfication, activating protocol fees, reducing UNI supply, introducing usage-based burns, consolidating teams, and funding ecosystem growth through a new Uniswap Growth Budget.

3. dYdX Launches Fee-Free BTC & SOL Perpetual Trading:

dYdX announces zero maker and taker fees for BTC and SOL perpetual markets following community vote. Traders also enjoy 50% rebates, $1M prize pool, and ongoing Trading League rewards.

4. Republic Technologies Raises $100M for Ethereum Expansion:

Canadian-listed Republic Technologies (CSE: DOCT) secures $100M zero-coupon convertible note to expand Ethereum staking; over 90% funds will buy ETH, starting with $10M deployment.

5. Cathie Wood Lowers Bitcoin 2030 Target:

Ark Invest CEO Cathie Wood says rapid stablecoin adoption has reduced Bitcoin’s transactional role, lowering her 2030 price target from $1.5M to $1.2 million, while maintaining its “digital gold” status.

6. Coinbase Launches Early Token Sale Platform:

Coinbase unveils a new platform enabling investors to buy tokens before official listings. Blockchain startup Monad will be the first project to offer its tokens on this platform.

7. US Government Shutdown Nears End:

The historic US government shutdown, the longest in history, is expected to conclude Thursday, according to Polymarket, bringing relief to federal employees and reopening stalled government services nationwide.

CoinGabbar’s Opinion

Based on today's update, crypto investments remain a risk and are highly volatile. While some coins like Uniswap and WLFI show strong short-term gains, the overall cryptocurrency market is in “Fear” (Fear & Greed Index: 26), and major assets like Ethereum are slightly down. Investors should exercise caution, avoid investing purely on hype, and only commit what they can afford to lose.

Disclaimer: This is not financial advice. Please DYOR before investing. CoinGabbar is not responsible for any financial losses.