[Galaxy CEO: Crypto Market Has Not Peaked Yet, New Fed Chair May Drive Rally] Galaxy Digital founder and CEO Mike Novogratz stated that the crypto market has been sluggish recently, with many long-term holders rebalancing their assets and diversifying funds from concentrated positions. While this is beneficial for the health of the mid-to-long-term market, it has suppressed prices in the short term. He believes the current cycle has not yet reached its peak and anticipates the arrival of a new Federal Reserve Chair by the end of this year, who may be more dovish than the market expects, potentially driving the next wave of upward momentum.

[Report: 72 out of the top 100 cryptocurrencies by market cap have dropped over 50%] A Galaxy Research report shows that in the current cryptocurrency market, 72 out of the top 100 cryptocurrencies by market cap have fallen more than 50% from their all-time highs.

[Study Finds Polymarket Trading Volume Inflated Due to Wash Trading] On November 7, researchers from Columbia University released a new study indicating that the trading activity on the prediction market platform Polymarket has been significantly inflated due to users frequently engaging in wash trading by buying and selling the same contracts. The study shows that this artificial trading phenomenon varies over time but has accounted for an average of approximately 25% of Polymarket's total trading volume over the past three years.

[Polygon Co-Founder: Stablecoins Will Strengthen the Dollar in the Short to Medium Term] Polygon co-founder Sandeep Nailwal posted on the X platform, stating that stablecoins will make the dollar stronger in the short to medium term, contrary to the prediction of Bridgewater Associates founder Ray Dalio. He pointed out that stablecoins not only continuously create demand for U.S. Treasury bonds but are also reshaping the relationship between the dollar and the global economy, shifting from B2B to B2C. Nailwal believes that Dollarization 2.0 is happening globally, with economic systems in regions like Latin America and Africa being restructured around the digital dollar. National monetary sovereignty in various countries is under pressure, and there is a need to promote 'open' local stablecoins to maintain competitiveness.

[Three new addresses withdrew 4,920 ETH from Tornado Cash and sold them] On November 7, three new wallets withdrew 4,920 Ethereum from Tornado Cash, with a total value of approximately $16.25 million, and sold them at a price of around $3,302.