THE WEEKLY WRAP
Sentiment has fallen even further into fear in the last week, dropping from 35 to 26.
Russia is opening up cryptocurrency trading to retail investors, with its central bank approving Bitcoin, Ethereum, and Tether for public trading from November 17th. Investors will be capped at an annual limit of ₽300,000 (approximately A$5,250.52) per intermediary.
Telegram’s founder, Pavel Durov, reported significant growth in crypto wallet registrations following the expansion of its integrated crypto wallet services, claiming more than 700,000 new self-custodial wallets in just 48 hours.
While concerns about delays for US regulations continue with the midterm election results, the New York Stock Exchange is taking another step towards blockchain-based trading by selecting Avalanche (AVAX) to settle tokenised stocks that trade on its platform, resulting in an 8% jump for the coin.
BTC vs GOLD vs NASDAQ vs ETH vs VAS
🟡 Gold: -5.01%
🟢 Nasdaq: +10.33%
🟣 Vanguard Australian Shares: +4.50%
🟠 Bitcoin: -15.18%
🔵 Ethereum: -29.43%
Source: https://www.tradingview.com/chart/
Nasdaq continues to lead, up 10.33% YTD, while Vanguard Australian Shares has continued to improve from +1.26% last week to +4.50%. Gold has recovered some of its earlier losses, improving to -5.01%. Bitcoin has fallen further to -15.18%, with Ethereum recording the largest decline of the group, now down 29.43% YTD.
BITCOIN:
Another turbulent week for Bitcoin, which fell below A$111,000 on November 5th as Wall Street saw heavy stock liquidation. The downturn led to about A$1.81 billion in crypto liquidations; however, Bitcoin briefly recovered to above A$114,000 after the election results, before falling back down to A$108,049.81 as of November 11th.
US spot Bitcoin ETFs experienced their worst weekly performance since June, recording approximately A$1.85 billion in net outflows last week, pushing year-to-date net flows into negative territory with approximately A$1.33 billion withdrawn overall in 2026.
Source: https://www.theblock.co/
Corporate purchases continued despite the negative market results, with Strategy adding another 811 BTC, bringing their total holdings to 849,327 BTC (approx. A$92.4 billion), and Strive increasing its total holdings to 43,124 BTC (approx. A$4.69 billion) with a purchase of 124 BTC.
ETHEREUM:
Bitmine is just 40,000 coins away from its goal of owning 5% of the ETH supply, after acquiring 9,587 ETH (approx. A$29.49 million) and bringing their total holdings to 6,070,092 ETH (approx. A$18.67 billion).
US spot Ethereum ETFs recorded their sixth consecutive week of outflows, with approximately A$520 million withdrawn between November 2nd and 6th. BlackRock's ETHA accounted for the majority, with approximately A$493 million in outflows.
Source: https://www.theblock.co/
Developers are working through technical and compatibility concerns, resulting in another setback for Ethereum’s Glamsterdam upgrade. Meanwhile, Ethereum researcher Justin Drake outlined a goal to make the network quantum-resistant by December 2028, a year ahead of the Ethereum Foundation's existing roadmap.
ALTCOINS:
The US Department of Labor has submitted a proposed rule to the White House that could expand access to cryptocurrencies beyond Bitcoin and Ethereum through 401(k) retirement plans. However, individual plan providers would still determine which assets to offer.
Solana (SOL) published 11 startup ideas covering artificial intelligence, stablecoin payments, tokenised collectibles and housing markets. The initiative also offers developers access to potential grants, technical resources and marketing support through its Builder Program.
Memecoins had mixed results last week. Pepe (PEPE) managed to trade in positive territory on November 9th despite the broader market downturn, while Dogecoin (DOGE) fell approximately 9% over the seven days leading up to November 8th, reaching its lowest daily closing price in a year. Shiba Inu (SHIB) has seen an increase in wallet holders despite continued price declines.
THIS WEEK’S INSIGHTS
Women have played a major role in shaping the crypto industry, but how many of the names behind its biggest developments do you know?
Our latest article highlights some of these women, including Cointree’s own CEO and Director, Jess Renden, and COO, Harlan Lauretti.
