Gate Research Institute: Ethereum Foundation Releases 2026 Roadmap | Balancer Encourages LPs to Migrate Liquidity to v3

Crypto Market Overview

• BTC (0.63% | Current Price 106,742 USDT): Bitcoin's price rebounded from the support level of $100,000, forming a bullish trendline around $104,000. The moderate rise reflects positive factors such as institutional buying and easing political risks. Current funding rates on major CEXs and DEXs indicate that after a nearly 3-day rebound, the funding rates for Bitcoin and Ethereum have returned to a neutral range, reflecting an increase in market participants' risk appetite. On the macro front, the Senate has advanced a bipartisan-supported bill aimed at ending the government shutdown, with funds gradually flowing back into risk assets. Bitcoin's price has broken through the key resistance level since November, with the current price range defined by the 100 MA (approximately $105,000) and the Fibonacci 50% retracement level (approximately $107,617). If Bitcoin's price breaks above $107,000, the target will point towards $109,000; conversely, if it falls below $104,000, it may retest the support at $102,300.
• ETH (-0.33% | Current Price 3,623 USDT): After experiencing a large-scale liquidity shock, Ethereum has stabilized and rebounded from the 3,200 USD area, indicating that the recent downtrend may be coming to an end. Although there is still strong resistance above in the short term, the market seems to be entering an accumulation phase dominated by large participants. Currently, Ethereum is retesting the key resistance range of 3,600–3,700 USD. If the buying power is sufficient to push the price above this range, it will confirm a structural reversal signal and is expected to open up space for further upward movement towards the 3,900–4,000 USD area. If this momentum continues, the price may even reach the high liquidity range near 4,400 USD.
• Altcoins: In the past 24 hours, the overall performance of altcoins has shown significant divergence, with the market exhibiting a localized rebound pattern. Among them, XRP (+3.53%) and SOL (+1.58%) lead the mainstream altcoins, showing strong signs of capital inflow. The altcoin season index is 30, unchanged from yesterday, indicating that although market sentiment has improved, risk appetite remains cautious.
• Macro: On November 3, the S&P 500 index rose by 1.54%, closing at 6,832.43 points; the Dow Jones index rose by 0.81%, closing at 47,368.63 points; the Nasdaq index rose by 2.27%, closing at 23,527.17 points. As of November 11 at 11:50 AM (UTC+8), the spot gold price per ounce is reported at 4,146 dollars, up 0.75% within 24 hours.

Trending Tokens on Juejin

SEAM Seamless Protocol (+74.17%, circulating market cap 14.19 million USD)

According to Gate.io market data, the current price of SEAM token is 0.34 USD, with a 74.17% increase in the last 24 hours. Seamless Protocol is the first native decentralized lending protocol on Base. Seamless lays the foundation for modern DeFi, focusing on lower collateral lending and a better user experience to incentivize the masses.

The recent rise of SEAM is mainly due to the launch of new exchanges. A centralized exchange launched the SEAM/USDT trading pair on November 10, expanding trading channels. Tokens typically experience an increase in short-term demand due to enhanced liquidity and exposure. SEAM's 24-hour trading volume reached 1.03 million USD, an increase of 396%, and the rise in liquidity has helped maintain the upward momentum of the price despite the overall market performance being lackluster.

WLFI World Liberty Financial (+18.75%, circulating market cap 3.882 billion USD)

According to Gate market data, the current price of the UNITE token is $0.15, with an increase of 18.75% in the last 24 hours. WLFI is a governance token that drives a DeFi protocol dedicated to promoting dollar stablecoins and consolidating the dollar's global dominance. WLFI aims to digitize the dollar—reliable, global, and stable—serving as a bridge between Web2 and Web3, providing institutions and ordinary users with a fast, fair, and barrier-free capital channel.

The rise of WLFI reflects the combined effects of an improving macro environment, political factors, and technical drivers. The Senate has proposed a bill aimed at expanding the Commodity Futures Trading Commission (CFTC)'s regulation of cryptocurrencies, and the market speculates this is favorable for dollar-pegged stablecoins like WLFI. From a technical perspective, the WLFI price has broken through the resistance range of $0.163–$0.167, with the 7-day RSI reaching 70.44 (overbought zone) and the MACD histogram turning positive, indicating short-term traders are chasing the price. The 24-hour trading volume surged by 673%, reaching $952 million, validating the price trend.

VELO Velodrome Finance (+18.35%, circulating market value 48.0586 million USD)

According to Gate's market data, the current price of the BTRST token is $0.04462, with an 18.35% increase in the last 24 hours. Velodrome Finance (VELO) is a decentralized trading platform (DEX) and liquidity hub built on the Optimism Superchain, aimed at providing efficient, low-slippage trading and deep liquidity for the ecosystem. The platform adopts a dual-token model: users can lock VELO as veVELO to participate in platform governance, vote on liquidity pool incentive distribution, and receive trading fee dividends; at the same time, VELO also serves as the main mechanism for distributing rewards to liquidity providers (LPs), thereby strengthening the economic link between the token and protocol growth.

The rise in VELO prices reflects the growth in demand for cross-chain applications and the impetus of the deflationary token mechanism. In the past week, Velodrome processed over $2 billion in transaction volume through 8 Optimism Superchain networks, with its cross-chain tool SuperSwaps enabling seamless asset transfers. The increase in protocol usage has driven a rise in fee income, which is distributed to VELO holders, creating buying support. It is expected that by 2025, transaction volume will double year-on-year to $9 billion, solidifying its position as a core liquidity platform for Optimism. Additionally, currently, 54% of VELO is locked in the veVELO contract, tightening circulation; recently, 4.2 million tokens have been added to the lock-up, further strengthening the upward momentum.

Alpha Interpretation

The Ethereum Foundation released the roadmap for 2026, which includes ERC-8004 and x402.

Davide Crapis, the head of artificial intelligence at the Ethereum Foundation, posted on the X platform stating that he is collaborating with the leadership of the Ethereum Foundation (EF) to develop the dAI team's roadmap for 2026, and he thanked the growing community around ERC-8004 and x402.

The Ethereum Foundation is a non-profit organization whose main responsibilities include funding core developers, promoting technological innovation, and maintaining the long-term decentralized development of Ethereum. The Ethereum Foundation has launched the dAI team roadmap planning, indicating that it is accelerating its layout in the field of artificial intelligence and blockchain integration. This news strengthens the market's attention to the AI+Web3 narrative, especially around the ecological construction of new standards such as ERC-8004 and x402, which may drive capital inflows into related projects and tokens. From a sentiment perspective, this news boosts expectations for innovation within the Ethereum ecosystem, likely activating the AI concept sector in the short term and promoting capital backflow into mainstream public chains and application layer tracks.

The Senate approved the bill to end the government shutdown and sent it to the House of Representatives.

On November 10, 2025, the Senate passed a bill by a vote of 60-40 aimed at ending the longest government shutdown in history and transferring it to the House for consideration.

The bill restores funding for federal agencies, preventing large-scale federal employee furloughs or unpaid wages starting October 1, marking the beginning of a relief phase from the government shutdown. After the Senate passed the bill to end the government shutdown, market risk appetite clearly rebounded. The advancement of this bill signifies a relief from short-term macroeconomic uncertainty due to previous constraints on fiscal spending, tightening liquidity, and pressure on risk assets. The market's expectations for the recovery of capital flows and an increase in government spending have intensified. As a result, the U.S. stock market rebounded in sync with risk assets like Bitcoin, while demand for safe-haven assets decreased. In terms of the crypto market, the easing of funding stress helps restore on-chain liquidity and trading activity, providing support for subsequent market recovery.

Balancer has proposed to deprecate the v2 stable pool and encourage LPs to migrate liquidity to v3.

Balancer stated on platform X that, out of caution, Balancer Labs has proposed to deprecate the v2 stable pools and encourages liquidity providers (LPs) to migrate their liquidity to v3. Balancer v3 remains fully operational and unaffected. This is a precautionary measure.

This operation is due to a security incident or at least potential vulnerabilities in the v2 stable pools (especially the “Composable Stable Pools”). Reports indicate that the vulnerability involves a “rounding error in the upscale function” exploited by hackers, with losses potentially reaching tens of millions of dollars. In this case, Balancer Labs proactively proposed to deprecate the v2 stable pools and transition to v3, which actually reflects its concerns about the security of the old version code. For investors, this may raise further concerns regarding its governance mechanism, contract upgrade path, and auditing system. For Balancer itself, successfully migrating LPs to v3 without new security incidents will help restore or even enhance its reputation in the AMM (Automated Market Maker) market. <br> Reference Material:

• Gate, https://www.gate.com/trade/BTC_USDT
• Farside Investors, https://farside.co.uk/btc/
• Gate, https://www.gate.com/trade/ETH_USDT
• Investing, https://www.investing.com/currencies/xau-usd
• X, https://x.com/DavideCrapis/status/1987882455110656488?s=20
• Reuters, https://www.reuters.com/world/us/us-senate-compromise-sets-stage-end-government-shutdown-2025-11-10/?utm_source=chatgpt.com

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Disclaimer Investing in the crypto market involves high risks, and users are advised to conduct independent research and fully understand the nature of the assets and products being purchased before making any investment decisions. Gate does not bear any responsibility for losses or damages resulting from such investment decisions.