Gate Research: USDT supply reaches $174 billion ｜ ARK Invest’s crypto holdings surpass $2.15 Billion

Crypto Market Overview

• BTC (-0.87% ｜ Current Price: 108,989 USDT): Over the past 24 hours, BTC has shown a generally weak and volatile trend. After a period of sideways consolidation, the price failed to break above the key resistance area near $111,000 and subsequently declined, now fluctuating around $108,900. From a moving-average perspective, the short-term MAs (MA5 and MA10) have turned downward, forming pressure above the price, while the MA30 is also flattening and slightly declining — indicating weakening bullish momentum. EMA crossovers likewise suggest short-term bearish dominance. Price action shows repeated rejections near $110,500, with support at $108,000; a breakdown below this level could trigger a retest of the previous low around $106,200. If BTC can hold above $108,000 with rising volume, a technical rebound may occur. Overall, BTC remains short-term weak, and caution is advised — wait for a confirmed stabilization near $108,000 before considering long entries, while favoring short setups if rebounds lack volume.
• ETH (-2.12% ｜ Current Price: 3,792 USDT): ETH continues to move in a weak, range-bound pattern. After briefly consolidating above 3,850 USD, it retreated again and now trades near 3,790 USD, showing a slow downward drift. The short-term MAs (MA5, MA10) have turned down sharply and are pressing on price; MA30 is also trending lower, forming a bearish alignment that signals short-term seller control. EMA crossovers further confirm market weakness. Technically, ETH has faced multiple rejections around 3,900 USD, showing heavy overhead pressure, with initial support near 3,750 USD. A breakdown could lead to a test of the previous low at 3,680 USD. If support holds and volume picks up, a short-term rebound may follow. In general, ETH remains weak and bears dominate; traders should stay cautious and watch the 3,750 USD support area. A breakout above 3,880 USD with strong volume would mark a potential short-term bottom, otherwise, selling on rebounds remains the preferred strategy.
• Altcoins: Most major altcoins have experienced slight declines, with market sentiment mainly “neutral” or “buy.” The Fear and Greed Index reported 42 today, remaining in the “fear” zone, indicating relatively subdued market sentiment.
• Macro: On October 31, the S&P 500 Index rose by 0.26% to 6,840.20 points; the Dow Jones Index increased by 0.09% to 47,562.87 points; and the Nasdaq Index gained 0.61% to 23,724.96 points. As of 11:50 AM (UTC+8) on November 3, the spot gold price per ounce was temporarily quoted at 4,008 USD, up 0.14% within 24 hours.

Trending Tokens

BEAT – Audiera (+58.90%, Market Cap: $15.72 M)

According to Gate market data, the BEAT token is currently quoted at 0.1007 USD, up about 58.90% in the past 24 hours. Audiera is the Web3 version of the globally popular rhythm game IP “Audition,” which has over 600 million users worldwide. It integrates artificial intelligence and blockchain technology to create an immersive, creativity-driven experience. Users can interact with AI idols, create music, mint them into NFTs, and use a smart dance mat for full-body gameplay. The ecosystem includes a mobile game, a mini app, and an AI-powered creative studio.

The BEAT token rose significantly in the past 24 hours, mainly driven by concentrated hype around the Audiera project ecosystem and a rapid influx of capital. Recently, the project announced a new plan to promote the integration of AI music creation and Web3 gaming and revealed partnerships with several creator platforms, sparking strong market interest in the “AI + Music + GameFi” narrative. At the same time, trading volume surged in a short period to about 285 million USD, showing a sharp increase in liquidity activity. As a result, BEAT’s price continues to strengthen under high liquidity and market optimism, with a strong bullish atmosphere.

MCTP – Mumubit (+31.84%, Market Cap: $513M)

According to Gate market data, the MCTP token is currently quoted at 0.5072 USD, up 31.84% in the past 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 enabling the community to jointly build a launch and growth platform executed by smart contracts.

MCTP’s performance in the past 24 hours showed a clear rebound, mainly driven by the simultaneous progress of its ecosystem upgrade and market expectations. Specifically, Mumubit announced that its “Builder System” node mechanism and “MumuTycoon” game platform are under development, and the official website mentioned that its native DEX is about to launch, further enriching its “multi-chain IDO + GameFi + node” ecosystem layout. In addition, after the market noticed recent active movements of MCTP on exchanges (such as listing news or increased community interaction), funds quickly flowed in, driving trading volume higher. Although its fundamentals are still at an early stage, the narrative of “open ecosystem + node participation” has strengthened bullish sentiment. It should be noted that MCTP currently has relatively limited market capitalization and liquidity, and the project’s development pace and execution ability remain uncertain. Therefore, even though short-term upward momentum is evident, attention should be paid to its lock-up mechanisms, node release schedule, and future game launches.

DGB – DigiByte (+31.78%, Market Cap: $147M)

According to Gate market data, the DGB token is currently quoted at 0.0082 USD, up about 31.78% in the past 24 hours. DigiByte is an open-source, decentralized blockchain network originally founded by developer Jared Tate in 2014. Its design goal is to provide a more secure, faster, and more scalable blockchain infrastructure for payments, digital asset issuance, and decentralized application (dApp) development.

As an early-established blockchain ecosystem emphasizing high security and fast transactions, DigiByte has recently gained market attention mainly due to the narrative of “stable core 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 includes a DigiAssets layer for asset issuance.

Alpha Insights

Decentralized Exchange Trading Volume Hit an All-Time High of 613.3 Billion USD in October

According to DefiLlama data, the total trading volume of decentralized exchanges (DEXs) surged to a record high of 613.3 billion USD in October, up more than 20% from about 500 billion USD in September. Uniswap ranked first with 170.9 billion USD, followed by PancakeSwap with 101.9 billion USD. Industry insiders pointed out that investors reallocated funds amid market volatility, boosting on-chain activity. Liquidity mining and airdrops have also become key factors attracting traders.

At the same time, centralized exchange (CEX) trading volume also rose significantly to 2.17 trillion USD in October, the highest since January this year. Overall, the ratio of DEX to CEX trading volume increased to 19.84%, indicating growing market interest in decentralized platforms. Analysts said that the sharp drop in Bitcoin prices in mid-October triggered a trading boom, and if macroeconomic or geopolitical volatility reemerges, market activity could continue into November.

ARK Invest Increases Crypto Exposure, Total Holdings Exceed 2.15 Billion USD

Cathie Wood’s ARK Invest continued to expand its investments in the crypto sector this week. Its three actively managed ETFs (ARKK, ARKW, ARKF) now hold more than 2.15 billion USD in crypto-related assets. The company recently increased its holdings in the exchange Bullish by 105,000 shares, worth about 5.3 million USD, bringing its total holdings to 2.27 million shares, valued at about 114 million USD.

This move is part of ARK’s ongoing strategy to strengthen its presence in digital asset infrastructure. To make room for the expansion, ARK reduced its holdings in traditional tech companies such as Palantir and Shopify. Currently, ARKF has the highest allocation to crypto assets at 29%, followed by ARKW at 25.7% and ARKK at 17.7%. Analysts believe this indicates that institutional investors are accelerating their shift toward the crypto and blockchain ecosystem.

Tether’s Net Profit Exceeded 10 Billion USD in the First Nine Months, Launching Share Buyback and Fund License Application

The world’s largest stablecoin issuer, Tether, announced that its net profit for the first three quarters of 2025 has exceeded 10 billion USD, showing strong business growth. The company disclosed that as of the end of the third quarter, the circulating supply of USDT had reached 174 billion USD, an increase of 17 billion USD in the quarter. Meanwhile, Tether’s U.S. Treasury holdings rose to a record 135 billion USD, making it the 17th-largest holder of U.S. Treasuries.

In addition to its strong reserve performance, Tether also announced the launch of a share buyback program and has applied for an investment fund license in its headquarters country, El Salvador. The company currently holds about 12.9 billion USD in gold and 9.9 billion USD in Bitcoin and plans to launch a new stablecoin, USAT, in collaboration with Anchorage Digital, targeting the U.S. market. Industry experts believe that Tether’s profitability and capital management strategies further strengthen its leading position in the global stablecoin market.


References

• 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

Gate Research is a comprehensive blockchain and cryptocurrency research platform that provides deep content for readers, including technical analysis, market insights, industry research, trend forecasting, and macroeconomic policy analysis.

Disclaimer
Investing in cryptocurrency markets involves high risk. Users are advised to conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such decisions.