Crypto panic grows on Nov. 5. Explore the key events shaping market sentiment today.
The NFT market continues to struggle as it has lost almost half its value in just a month.
Data from CoinGecko demonstrates that the total NFT market cap plunged from $6.6 billion on Oct. 5 to $3.5 billion this week, which marks a 45% drop.
This downturn came despite an increase in October sales that briefly lifted top NFT floor prices.
Pi Network continues its rapid rise, crossing 100 million downloads on Google Play. This milestone means that it has outpaced industry giants, like OKX, Crypto.com, and Coinbase.
With 100M+ installs, Pi Network maintains a 4.5-star rating. Meanwhile, Coinbase has 50M+ downloads with a 4.4-star rating. OKX and Crypto.com trail behind with 10M+ installs each.
ZKsync (ZK) has maintained its bullish trend since Nov. 1. Now, it is trading at approximately $0.0612, which means that it is up 9.5% over the past 24 hours. The trading volume is rising 25%.
The growth over the last 7 days is close to 90%.
You can find more details here.
Ethereum ETFs have logged five consecutive days of outflows. Data from SoSoValue shows that more than $219.37 million was pulled from Ethereum-based exchange-traded funds in the past 24 hours.
BlackRock’s ETHA posted the largest withdrawal, with $111.08 million in outflows. Grayscale’s ETH product occupied the second position. It saw $68.64 million exit. Fidelity’s FETH and Grayscale’s ETHE also recorded withdrawals of $19.86 million and $19.78 million, respectively.
Want to learn more? Read our recent report.
Bloomberg ETF analyst James Seyffart reported that Franklin Templeton has filed an amended S-1 incorporating shortened “8(a)” language. It is a key legal adjustment that allows the registration to take effect automatically after 20 days, without the need to receive direct SEC approval.
The prospectus states that the Franklin XRP Trust will hold XRP as its primary asset, tracking the token’s price performance.
Last week, both Bitwise and Canary Capital submitted similar amendments.