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The New York Stock Exchange's self-rescue movement essentially redefines the business model of traditional exchanges. With the IPO market shrinking, trading volumes declining, and data services experiencing sluggish growth, traditional exchanges can no longer rely solely on their conventional profit models to maintain competitiveness.

From getting rich by holding coins to selling coins to repair watches, the capital market is no longer unconditionally rewarding the narrative of simply holding tokens.

Liquidity is the key factor influencing the current performance of the crypto market.

US ADP employment in October saw the largest increase since July, with previous figures also revised upward. However, experts caution that the absence of nonfarm payroll data means this figure should be interpreted cautiously.
- 02:26Data: An ETH swing trading address continues to buy the dip, accumulating an additional 25,004 ETHAccording to ChainCatcher, monitored by EmberCN, a certain "whale/institution that has already made a profit of $93.74 million through ETH swing trading" has been continuously buying the dip over the past two days, accumulating an additional 25,004 ETH worth $82.6 million, with an average purchase price of approximately $3,304. Based on this whale's previous habits, after ETH rises by several hundred dollars, they are likely to start selling in batches to take profits.
- 02:26Bank of England: Will Align Stablecoin Regulation with the United StatesAccording to ChainCatcher, Bank of England Deputy Governor Sarah Breeden stated that the UK government plans to stay in sync with the US on stablecoin regulation, emphasizing that coordinating rules between the two countries in this approximately $310 billion industry is "crucial." Speaking at the SALT conference in London, she noted that the UK will implement a stablecoin regulatory framework "as quickly as the US" in response to concerns that the UK is lagging behind the US. Breeden revealed that the Bank of England will release a stablecoin regulatory consultation paper on November 10 and is maintaining communication with US regulatory agencies. This move continues the outcomes of the September meeting between UK Chancellor Rachel Reeves and US Treasury Secretary Scott Bessent, during which both sides agreed to strengthen regulatory coordination in the fields of cryptocurrency and stablecoins. Previously, several UK crypto industry organizations criticized the regulatory environment as being overly conservative, arguing that this has caused the country to fall behind in innovation and policy. In addition, the Canadian government also announced a stablecoin regulatory plan this week, requiring fiat-backed issuers to maintain adequate reserves and establish risk management systems. At the institutional level, organizations such as Western Union, SWIFT, MoneyGram, and Zelle have recently announced the integration of stablecoin solutions. The US Treasury estimates that the stablecoin market size will grow from the current $310 billion to $2 trillion by 2028.
- 02:04Data: ETH swing trading whale recently bought another 25,000 ETH at an average price of $3,304, with approximately $93 million in profits.According to ChainCatcher, monitored by crypto analyst Ember (@EmberCN), a whale or institution that has accumulated approximately $93.74 million in profits through ETH swing trading has recently made significant additional purchases during the recent ETH pullback. In the past two days, after transferring USDC to certain exchanges and other platforms, this entity withdrew about 25,004 ETH (approximately $82.6 million), with an average purchase price of around $3,304. Ember pointed out that this address typically holds assets for a short period, and starts selling in batches whenever ETH rises by one or two hundred dollars. As a result, it is less likely to be trapped during downward cycles, but often misses out on larger gains due to selling early. For example, previously, it bought over 100,000 ETH at around $2,500, and liquidated at an average price below $3,000, after which ETH once surged above $4,000.
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