Crypto Market Update Nov 6: GIGGLE Up 145%, MMT Dip & Zcash Trends

Crypto Market Update: Trump Tariff & US Shutdown May Delay Crypto Bill

Overall Crypto Market Update:

• The global cryptocurrency market cap stands at $3.5 trillion, marking a 2.4% increase in the last 24 hours.

• Daily trading volume reached $196B

• Bitcoin remains the leader with a 58.4% dominance, while Ethereum holds a 11.6% share.

• A total of 19,413 cryptocurrencies are currently being tracked.

• The largest gainers of 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 $102754, representing a 3.8% rise in the past 24 hours. With $77 billion in trading volume and a $2 trillion market cap, BTC continues to dominate cryptocurrency globally.

• Ethereum trades at $3377.93, soars 6.2% in the last 24 hours, with a $408 billion market cap and $40.3 billion in trading volume.

Top 5 Trending Coins in the Last 24 Hours

• Zcash (ZEC) surged 13.5% to $472.94 with a $1.51 billion volume.

• Ergo (ERG) gained 13.1%, reaching $0.64 with $294K trading volume.

• Firo (FIRO) rose 2.6% to $1.78, with daily trades worth $812K.

• Concordium (CCD) is stable at $0.028 with $1.28 million in trading activity.

• Pudgy Penguins (PENGU) climbed 8.8% to $0.015, with $205 million in volume.

Top 3 Gainers:

• Giggle Fund (GIGGLE) soared 145.9%, reaching $230.93 with a TV of $1.01B.

• Alchemix (ALCX) jumped 131%, now trading at $14.48 with a TV of $135M.

• SOON (SOON) rose 125%, priced at $1.57 and recording a TV of $289M.

Top 3 Losers:

• Momentum (MMT) dropped 58.5% to $0.73 with a TV of $1.26B, marking a sharp sell-off.

• Intuition (TRUST) price fell 54% to $0.21, with a TV of $252M.

• DeAgentAI (AIA) declined 38.1%, priced at $1.65, recorded a TV of $46M

Stablecoins and Defi Update:

• Stablecoins hold a market cap of $311 billion with $155 billion in trading volume, representing a 0.9% positive change.  

• The DeFi market cap stands at $124 billion, up 2.6% in the last 24 hours, with a trading volume of $9.8 billion. DeFi dominance remains at 3.5%.

Fear and Greed Index Today

Source: Alternative Me

Crypto Fear & Greed Index shows 27 (Fear) today, up from 23 (Extreme Fear) yesterday. Last month, it was 70 (Greed). Investors are now cautious after sudden BTC and ETH drops, regulatory worries, and corrections. The cryptocurrency industry is volatile, with selling pressure, but some see potential buying opportunities.

Latest Market News Today

1. Ripple Raises $500M, Valued at $40B

• Ripple completes $500 million funding round.

• Valuation jumps to $40 billion.

• Round led by Fortress Investment Group, Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace.

• Strengthens Ripple’s position in digital asset infrastructure.

2. Longest U.S. Government Shutdown May Delay Crypto Bill

• U.S. shutdown hits 36 days, longest ever.

• Crypto market structure legislation progress could be delayed.

• White House aims to finalize bill by the end of 2025.

• Experts now expect a possible delay into 2026.

3. Trump Signs Executive Orders Ending Federal “War on Crypto”

• President Trump announces executive orders to stop the federal crypto crackdown.

• Builds on the 2025 GENIUS Act & IRS rule changes.

• Aims to boost innovation and create a U.S. digital asset stockpile.

• Crypto community reacts positively, expecting clearer rules and market growth.

4. Supreme Court Hearing Puts Trump’s Tariffs, US Economy at Risk

• US markets hit new highs as the odds of Trump tariffs being legal drop to 18%.

• Supreme Court justices skeptical about tariff legality; hearings began at 10 AM ET.

• Trump calls it “life or death” for the US.

• Potential $1T refund liability if tariffs struck down.

• US may cut flights by 10% Friday amid the shutdown.

• Treasury yields rise to a one-month high ahead of ruling.

5. UK to Roll Out Stablecoin Rules Alongside the US

• Bank of England Deputy Governor Sarah Breeden confirms UK stablecoin regulations will match the US pace.

• Framework includes temporary holding limits: £20,000 for individuals, £10 million for businesses.

• Aims to address concerns over regulatory lag.

CoinGabbar’s Opinion

The cautious recovery amid volatility, with Bitcoin and Ethereum leading gains. Fear levels remain high, suggesting short-term uncertainty. Long-term investors may consider accumulating strong assets like BTC, ETH, or fundamentally solid DeFi projects. Avoid hype-driven coins; focus on stability and gradual portfolio growth.

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.