Gate Research Institute: BEAT rise exceeded 58% | Tether's net profit this year surpassed 10 billion USD

Crypto Market Overview

• BTC (-0.87% | Current Price 108,989 USDT): Over the past 24 hours, the price of BTC has shown a generally weak oscillating trend. After a period of consolidation, it failed to effectively break through the upper resistance level around 111,000 USD, subsequently experiencing a continuous decline, currently oscillating near 108,900 USD. From the moving average structure, the short-term moving averages (MA5, MA10) have turned downwards and are forming resistance above the price, while MA30 is also showing a flat to downward trend, indicating a significant weakening of short-term bullish momentum. The EMA indicator cross also shows signs of short-term bearish dominance. In terms of price rhythm, the price has been repeatedly blocked near 110,500 USD, with support below at the 108,000 USD level. If it breaks below this range, it may further test the previous low of 106,200 USD. If it can gain effective support above 108,000 USD with a rebound in trading volume, a technical rebound may be expected. Overall, BTC is weak in the short term, and downward risks should be noted. Operations should be cautious, observing whether the price can stabilize after stopping the decline in the 108,000 USD range before considering short-term long positions. If the rebound lacks volume, the focus should still be on shorting at high levels.
• ETH (-2.12% | Current Price 3,792 USDT): The price of ETH has overall maintained a weak oscillating pattern. After a brief consolidation above 3,850 USD, it has dipped again, currently situated around 3,790 USD, showing a gradual downward trend. From the moving average structure, the short-term moving averages (MA5, MA10) have clearly turned downward and formed resistance above the price; MA30 also maintains a downward trend, with the moving average system showing a clear bearish arrangement, indicating a dominant short position in the short term. The EMA indicator crossover signals also indicate that the market is still in a weak stage. From a technical perspective, ETH has repeatedly rebounded but failed to break through the pressure above 3,900 USD, indicating strong selling pressure above; initial support is around 3,750 USD, and if this area is broken, it may further test the previous low of 3,680 USD. If it can stabilize at the support level with a rebound in trading volume, it may welcome a short-term corrective rebound. Overall, the short-term trend of ETH is weak, and the bearish dominance pattern remains unchanged. It is advisable to remain cautious and pay attention to the performance of the 3,750 USD support range. If a rebound breaks through and stabilizes above 3,880 USD, it can be seen as a short-term stop-loss signal; otherwise, the strategy should still focus on shorting at rebound highs while controlling positions to guard against further downside risks.
• Altcoins: Most mainstream altcoins are experiencing slight declines, with market sentiment mainly being “neutral” or “buying.” The Fear and Greed Index reports 42 today, still in the panic zone, indicating relatively low market sentiment.
• Macro: On October 31, the S&P 500 index rose 0.26%, closing at 6,840.20 points; the Dow Jones index rose 0.09%, closing at 47,562.87 points; the Nasdaq index rose 0.61%, closing at 23,724.96 points. As of November 3, 11:50 AM ( UTC+8), the spot gold price is temporarily reported at 4,008 dollars per ounce, with a 24H increase of 0.14%.

Popular Tokens on Juejin

BEAT Audiera (+58.90%, circulating market cap 15.72 million USD)

According to Gate's market data, the current price of the BEAT token is $0.1007, an increase of approximately 58.90% within 24 hours. Audiera is the Web3 version of the globally popular music dance game IP, (Audition), which has over 600 million users worldwide. It combines artificial intelligence and blockchain technology to create an immersive, creation-driven experience. Users can interact with AI idols, create music, mint it into NFTs, and experience full-body gaming through smart fitness mats. The ecosystem includes a mobile game, a mini-application, and an AI-driven creative studio.

The BEAT token has seen a significant increase in the past 24 hours, driven primarily by the concentrated release of enthusiasm within the Audiera project ecosystem and the rapid influx of market capital. Recently, the project team announced a new plan to integrate AI music creation with Web3 gaming, and revealed partnerships with multiple creator platforms, sparking strong market interest in the narrative of “AI + music + blockchain games.” Meanwhile, trading volume surged to approximately $285 million in a short period, indicating a notable increase in capital activity. As a result, the BEAT price has continued to strengthen under the influence of high liquidity and positive sentiment, with a strong bullish atmosphere in the market.

MCTP Mumubit (+31.84%, $513 million market cap outstanding)

According to Gate's market data, the current price of the MCTP token is $0.5072, with a 31.84% increase in the last 24 hours. Mumubit was established in 2021 and has received support from top industry institutions such as the Polygon Foundation, Metis Foundation, Mytoken, and AltcoinBuzz. The Mumubit platform has designed a decentralized node system aimed at organizing the community to jointly build a launch and growth platform executed by smart contracts. The Mumubit ecosystem has launched two projects based on our nodes: Mumu Nail Master and Mumu Tycoon. The ecosystem trades on the Mumubit DEX and OTC platforms. All node holders can share in the project's profits.

MCTP has shown a significant rebound in performance over the past 24 hours, with the core driving force attributed to the simultaneous fermentation of its ecological upgrades and market expectations. Specifically, the project team Mumubit announced that its “Builder System” node mechanism and the “MumuTycoon” gaming platform are in progress, while the official website mentioned the upcoming launch of a native DEX, further enriching its “multi-chain IDO + chain games + nodes” ecological layout. Additionally, the market quickly observed active movements of MCTP in exchanges recently (such as listing news / enhanced community interaction), leading to a rapid influx of funds, driving up trading volume. Although its fundamentals are still in the early stages, the narrative of “ecological openness + node participation” has strengthened, providing a catalyst for bullish sentiment. It is worth noting that MCTP's current market value and liquidity remain limited, and there is still uncertainty regarding the speed of project advancement and realization capabilities. Therefore, despite the obvious short-term upward momentum, it is still advisable to pay attention to key variables such as its lock-up mechanism, node releases, and the subsequent launch rhythm of games.

DGB DigiByte (+31.78%, circulating market value 147 million USD)

According to Gate market data, the current price of the DGB token is $0.0082, having increased by approximately 31.78% within 24 hours. DigiByte is an open-source, decentralized blockchain network founded by developer Jared Tate in 2014. Its design goal is to provide a more secure, faster, and scalable blockchain infrastructure for payments, digital asset issuance, and decentralized application (dApp) development.

DigiByte, as an early-established blockchain ecosystem that emphasizes high security and fast transactions, has recently garnered market attention mainly due to the narrative of “stable underlying technology + strengthened digital asset issuance mechanism.” Official information shows that the network uses five different algorithms (SHA-256, Scrypt, Skein, Qubit, Odocrypt) to ensure security and has a DigiAssets layer for asset issuance.

Alpha Interpretation

In October, the trading volume of decentralized exchanges reached a historical high of $613.3 billion.

According to data from DefiLlama, the total trading volume of decentralized exchanges (DEX) soared to a historical high of $613.3 billion in October, an increase of over 20% compared to approximately $500 billion in September. Uniswap ranked first with $170.9 billion, followed closely by PancakeSwap with $101.9 billion. Industry insiders pointed out that investors are reallocating funds amid market fluctuations, driving on-chain trading activity, and liquidity mining and airdrops have also become important factors in attracting traders.

At the same time, the trading volume of centralized exchanges (CEX) has also increased significantly, reaching $2.17 trillion in October, the highest since January this year. Overall, the trading volume ratio of DEX to CEX has risen to 19.84%, indicating a continued increase in market interest in decentralized platforms. Analysts have stated that the sharp drop in Bitcoin prices in mid-October triggered a trading frenzy, and if macroeconomic or geopolitical fluctuations occur again, market activity may continue into November.

ARK Invest increased its crypto footprint, with total holdings exceeding $2.15 billion

Cathie Wood's ARK Invest continued to expand its investments in the crypto market this week, with its three actively managed ETFs (ARKK, ARKW, ARKF) holding a total of over $2.15 billion in crypto assets. The company recently increased its stake in the exchange Bullish by 105,000 shares, valued at approximately $5.3 million, bringing its total holdings to 2.27 million shares, worth about $11.4 million based on market value.

This operation is a continuation of ARK's ongoing strengthening of its digital asset infrastructure layout. To increase allocation space, ARK has also reduced its holdings in traditional tech stocks such as Palantir and Shopify. Currently, the allocation ratio for crypto assets in ARKF is the highest at 29%, followed by ARKW at 25.7%, and ARKK at 17.7%. Industry analysts point out that this move by ARK reflects the accelerating shift of institutional investors towards the crypto and blockchain ecosystem.

Tether's net profit in the first nine months exceeded 10 billion USD, initiating stock buybacks and applying for fund licenses.

The world's largest stablecoin issuer Tether announced its performance for the first three quarters of 2025, with a net profit exceeding 10 billion USD, indicating strong business growth. The company disclosed that by the end of the third quarter, the circulation supply of USDT had reached 174 billion USD, an increase of 17 billion USD for the quarter; at the same time, Tether's holdings of government bonds rose to a record 135 billion USD.

In addition to strong reserve performance, Tether also announced the launch of a stock buyback program and has applied for an investment fund license in its headquarters location, El Salvador. The company currently holds approximately $12.9 billion in gold and $9.9 billion in Bitcoin, and plans to launch a new stablecoin, USAT, in cooperation with Anchorage Digital. Industry insiders believe that Tether's profit and capital operation strategies further strengthen its dominant position in the global crypto market.
Reference Material:

• Gate, https://www.gate.com/trade/BTC_USDT
• Farside Investors, https://farside.co.uk/btc/
• Gate, https://www.gate.com/trade/ETH_USDT
• Farside Investors, https://farside.co.uk/eth/
• Gate, https://www.gate.com/crypto-market-data
• Investing, https://investing.com/indices/usa-indices
• Investing, https://investing.com/currencies/xau-usd
• CoinGecko, https://www.coingecko.com/categories
• Defillama, https://defillama.com/revenue/chain/solana
• Coindesk, https://www.coindesk.com/business/2025/10/31/tether-profits-topped-usd10b-in-first-nine-months-of-year-starts-share-buyback-program
• The Block, https://www.theblock.co/post/377197/dex-volume-all-time-high-october

Disclaimer Investing in the crypto market involves high risks. Users are advised to conduct independent research and fully understand the nature of the assets and products being purchased before making any investment decisions. Gate does not accept any responsibility for any losses or damages caused by such investment decisions.