Ethereum: Stablecoins have grown by $84.9 billion in the past 12 months

The trading volume of Binance DASH/USDT surged 6 times within 10 minutes, with a turnover of 113 million US dollars in the past 24 hours, an increase of 7.58% A surge in trading volume generally indicates an increase in market trading activity or large-scale fund buying and selling operations, which may be caused by certain important market changes or news announcements. According to AiCoin data, the comprehensive ranking of Binance contracts ranks first in the world

[Matrixport: Sustainability of Bitcoin Rebound Requires Validation from Macro and Capital Dynamics] Matrixport pointed out in its latest analysis that the current Bitcoin pullback has approached a cost-effective range, with the RSI indicator recently dipping to 35, indicating that technical buying activity tends to become active near this level. However, the sustainability of the rebound still requires validation from macro catalysts. In the short term, the U.S. government shutdown issue may be resolved this week, and Trump’s mention of issuing approximately $2,000 'stimulus checks' to the public has sparked market associations with the retail frenzy of 2020-2021. Nevertheless, against the backdrop of ETF net outflows and institutional investors' temporary wait-and-see stance over the past week, the current rebound momentum remains limited. The aforementioned catalysts alone are unlikely to drive a trend reversal, and support from both capital dynamics and fundamentals is still needed.

[Chinese Ministry of Commerce Suspends Countermeasures Against Hanwha Ocean's U.S. Subsidiaries for One Year] The Chinese Ministry of Commerce has decided to suspend countermeasures against five U.S.-related subsidiaries of Hanwha Ocean Co., Ltd. for one year starting November 10, 2025. The reason is that the United States will suspend its Section 301 investigation measures against China's maritime, logistics, and shipbuilding industries for one year starting on the same date.

[The U.S. Dollar's Trend May Be Influenced by CPI and Non-Farm Payroll Data, University of Michigan Consumer Confidence Weakens] The government shutdown deadlock is expected to be resolved, and the U.S. dollar's trend is likely to be determined by upcoming CPI and non-farm payroll data. The University of Michigan Consumer Confidence Index performed poorly, with data weakening beyond expectations. Whether this will affect Federal Reserve Chair Powell's previously hawkish stance remains to be seen.

**[U.S. Senate Passes Procedural Vote to End Government Shutdown, Some Moderate Democrats Defect]** On November 10, the U.S. Senate passed a procedural vote to "end the government shutdown." Although Senate Democratic Leader Chuck Schumer from New York and most Democratic senators voted against it, some moderate Democrats defected. Ultimately, five Democrats changed their stance, helping Republicans secure the necessary votes. Previously, three conservative Republican senators had delayed the vote due to issues with the spending bill, but after discussions with Trump, they cast their votes in favor. Within the Democratic Party, opinions on the proposal were divided. Schumer stated he could not genuinely support it, while Vermont Independent Senator Bernie Sanders and Connecticut Democratic Senator Chris Murphy both urged Democrats to stand firm. Democrats had voted 14 times against reopening the government, demanding an extension of tax credit policies under the Affordable Care Act. Meanwhile, Republican leaders secretly collaborated with moderate Democrats to push the agreement forward.