Gate Research: 70,000 PIGGY airdrop now live ｜ Ethereum confirms Dec 3 Fusaka upgrade

Crypto Market Overview

• BTC (-0.87% | Current Price: 109,602 USDT): In the past 24 hours, BTC experienced a rapid pullback from its highs followed by a short-term rebound. The price fell from around $116,388.8 to a daily low near $106,286.5, then found support at the low and rebounded to approximately $109,602.7. Short-term moving averages indicate that buying interest is entering the market, forming an initial short-term golden cross, suggesting that bullish momentum is starting to recover at the lows. However, the MA30 remains downward and forms resistance near the current price, indicating that the overall trend has not yet reversed. If BTC can hold the $109,000–$109,500 range over the next 24 hours with increased trading volume, a short-term challenge of the $111,000 resistance level may occur, testing a trend reversal. Conversely, if resistance is met near MA30 and volume declines, BTC could retest support around $107,000–$107,500 or even revisit the daily low. In summary, short-term outlook leans toward a corrective rebound, but entries should be volume-confirmed and executed in batches with strict risk control.
• ETH (-1.99% | Current Price: 3,845 USDT):ETH continues its downward trend but shows signs of bottoming at lows. The price dropped from a high of around $4,253.53 to a low of $3,679.61, then found support in this range and rebounded to approximately $3,845.05. For short-term moving averages, MA5 has crossed above MA10, forming an initial golden cross, indicating a return of short-term funds. However, MA30 remains downward, reflecting a weak medium-term trend, with the current price attempting to break this resistance. Structurally, ETH’s recent decline was accompanied by increased volume, while the rebound at the lows has seen gradually shrinking volume, showing intensified market contention. If the price can stabilize in the $3,820–$3,850 range and break above MA30 with volume, it could test resistance at $3,900–$3,950. Otherwise, if upward momentum fades and it falls below $3,780, it may retest support near $3,700.
• Altcoins: Most major altcoins remained slightly down, with market sentiment mostly “neutral” or “buy.” The Fear & Greed Index today is 29, still in the “fear” zone, indicating relatively pessimistic market sentiment, with most users taking a wait-and-see approach.
• Macro: On October 30, the S&P 500 fell 0.99% to 6,822.34; the Dow Jones fell 0.23% to 47,522.12; and the Nasdaq fell 1.57% to 23,581.14. As of October 31, 11:50 AM (UTC+8), spot gold is priced at $3,996 per ounce, down 0.70% in the past 24 hours.

Trending Tokens

JELLYJELLY – Jelly-my-jelly (+40.56%, Market Cap: $159M)

According to Gate market data, JELLYJELLY is currently priced at $0.1606, up about 40.56% in 24 hours. JELLYJELLY is a token running on Solana blockchain, with a total supply of about 999.9 million, initiated by Venmo co-founder Iqram Magdon-Ismail and early investor Sam Lessin. The token is related to a video clip-sharing application called JellyJelly, where users can capture clips from video calls to share, and use AI functions to generate subtitles and summaries. Holding JELLYJELLY grants early access to the platform, and in the future it may be used for tipping, content promotion, or ecosystem governance. One key factor behind the recent rise is the official announcement of the app beta test and strengthened binding of the token to the application scenario, attracting community and short-term fund attention. Media reports of sharp price increases and whale purchases also accelerated market expectations. However, despite these drivers, there is still a lack of concrete functional launch or partnership announcements, so future trends need to observe actual app releases and user growth.

AURORA – Aurora (+36.58%, Market Cap: $64.43M)

According to Gate market data, AURORA is currently priced at $0.0989, up 38.38% in 24 hours. Aurora is an EVM on the NEAR protocol, providing developers a turnkey solution to run their applications on an Ethereum-compatible, high-throughput, scalable, and future-secure platform, offering low transaction costs. Aurora helps Ethereum users and dApps migrate to NEAR, allowing users to upload Solidity smart contracts on NEAR and interact with them, and move assets between Ethereum and NEAR (including ERC-20 tokens). In the past 24 hours, Aurora’s price rose significantly, mainly due to surge in trading volume, improved market sentiment, and ecosystem positive news. Recently, Aurora announced continued token burn and ecosystem incubation plans, attracting investor attention. On-chain activity and DEX trading volume increased, showing short-term capital inflow. Overall, the rise was driven more by market sentiment and technical factors than long-term fundamentals.

CCD – Concordium (+30.02%, Circulating Market Cap $5.485B)

According to Gate market data, CCD is currently priced at $0.0246, up about 30.02% in 24 hours. Concordium is a pioneering proof-of-stake blockchain rooted in scientific principles, and the first to directly integrate self-sovereign identity into its protocol. This unique design meets regulatory standards, making Concordium a catalyst for business transactions via blockchain. Notably, Concordium ensures transactions are irreversible in seconds, guaranteeing finality, while keeping transaction fees continuously low and stable, pegged to the Euro. In the past 24 hours, CCD trading volume has shown activity, indicating increased market attention to the project ecosystem. Combined with recent ecosystem announcements and increased on-chain activity, its price may have some support. However, as of now, there is no significant large-scale positive news, so future trends still need attention to compliance identity verification and enterprise application progress.

Alpha Insights

Strategy Q3 Profit Falls to $2.8B, Bitcoin Premium Hits 18-Month Low

Bitcoin treasury company Strategy (MSTR) reported Q3 profit of $2.8B, sharply down from last quarter’s record $10B, due to weaker late-summer Bitcoin rebound momentum and narrowing company valuation premium. However, diluted EPS of $8.42 still exceeded analyst expectation of $8.15, marking the weakest quarter since adopting fair value accounting in January this year. Strategy’s stock fell intraday to a six-month low but rose about 4% in after-hours trading following the report; meanwhile, Bitcoin price was around $107,000, about 15% below the early October peak.

As the world’s largest Bitcoin treasury company, Strategy added about 43,000 BTC this quarter, bringing total holdings to 640,800 BTC, with total value close to $69B, but the lowest increase this year. The company continues to rely on high-yield preferred shares (like STRC) for financing; Bitcoin financing yields have risen to 10.5% to maintain investor demand and support BTC accumulation, even as stock price and mNAV premium tighten.

Ethereum Officially Schedules Fusaka Upgrade for Dec 3

Ethereum Foundation researchers officially announced that the next major mainnet upgrade, Fusaka, will launch on December 3. The upgrade has previously been deployed on Holesky, Sepolia, and Hoodi testnets, remains backward compatible, and will implement about 12 Ethereum Improvement Proposals (EIPs) to improve main chain and Layer 2 sustainability, security, and scalability.

Fusaka’s most important improvements include Peer Data Availability Sampling (PeerDAS), providing validators more efficient data access, and increasing block Gas limit from 30 million to 150 million units, expected to quickly double Blob capacity. The Ethereum Foundation also launched a four-week auditing contest, offering up to $2 million to security researchers discovering vulnerabilities, to ensure smooth mainnet upgrade.

Ethereum Rebounds After Pullback, Trading Range Narrows

Ethereum experienced a short-term pullback and rebounded in the evening, trading activity increased, and the recent range narrowed, bringing nearby key levels back into focus.

Intraday, ETH fell from $3,921 to $3,731, then rebounded to $3,771, recovering resistance near $3,760, indicating gradual buyer intervention.Volume was 32% higher than the seven-day average, mainly moderate buying rather than a short-term squeeze. Technically, Ethereum’s short-term trading range is about $3,730–$3,880, with key resistance at $3,840–$3,880 and support at $3,731. Core developers still plan to implement the Fusaka upgrade on December 3.

Gate Launchpool

New Token Sale Details

• Subscription Project: Piggycell
• Token Name: PIGGY
• Subscription Period: Until November 6, 2025, 12:00 (UTC)
• Participation Method: Stake PIGGY or GUSD to receive free allocation
• Total Airdrop Supply: 70,000 PIGGY

Project Introduction

Piggycell is a decentralized physical infrastructure and real-world assets project, aiming to convert a nationwide mobile power bank sharing network into a Web3 ecosystem. By associating real-world charging activities with on-chain data, Piggycell builds transparent and reward-driven infrastructure. Users can earn daily incentives through charging rewards, NFT ownership, and gamified tasks, achieving seamless integration of physical infrastructure with blockchain. The platform aims to transform real utility into digital assets, bringing Web3 technology into daily use. Piggycell pioneers a new decentralized infrastructure paradigm, combining physical business with tokenized incentive mechanisms.


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
• Coindesk, https://www.coindesk.com/markets/2025/10/30/eth-selloff-meets-late-bounce-as-volume-climbs-range-tightens-as-risk-appetite-plunges
• The Block, https://www.theblock.co/post/377038/strategy-q3-profit-drops-bitcoin-rally-fades-mnav-premium-compresses
• The Block, https://www.theblock.co/post/377065/ethereum-devs-officially-target-dec-3-for-fusaka-upgrade
• Gate, https://www.gate.com/launchpool/PIGGY?pid=424

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.