Glassnode: The four-year cycle for BTC has become invalid; Ethereum's TPS reaches a new all-time high

Bitcoin

Charles Schwab CEO: Will Begin Offering Bitcoin Trading Services in 2026

The CEO of Charles Schwab stated that they will start offering Bitcoin trading services in 2026.

Jack Dorsey’s Block Q3 Bitcoin Revenue Nears $2 Billion, Accounted for Nearly One-Third of Total Revenue

According to the SEC 10-Q filing, Jack Dorsey’s fintech and digital payments giant Block Inc. (Ticker: XYZ) achieved $6.11 billion in revenue in Q3, with a net profit of $461.5 million.
In a letter to shareholders, Dorsey said, “Block’s gross profit grew 18% year-over-year in Q3, with Cash App up 24% and Square’s business up 9%.”
Based on data from The Wall Street Journal and The Block, Block’s stock closed at $70.94, down 3.7%, and after-hours dropped an additional 9.6% to $64.10.
Block’s Bitcoin business revenue was approximately $1.97 billion, nearly one-third of total revenue, slightly below $2.4 billion in the same period last year, but still the second-largest revenue source after subscription and service income.

Glassnode Co-Founder: The “Four-Year Cycle” Has Become Obsolete, Bitcoin Is Evolving Into a Mature Asset Driven by Macro Liquidity

Glassnode co-founder Negentropic wrote that the “four-year cycle” is no longer valid. Bitcoin is evolving; as the asset matures, it becomes more stable, less volatile, and more integrated into global macro investment portfolios. This is not a flaw but a feature.
The larger and more robust an asset, the less it is affected by structural supply factors (such as halving, miner sell pressure, issuance shocks) and more influenced by liquidity, credit cycles, and macro trends.
Most people in the crypto market still think within outdated models. Once a narrative becomes a consensus, it ceases to be effective. Market makers use this consensus as a weapon, which is the easiest way to clear uninformed traders.
The “four-year cycle” is the most widely adopted paradigm in crypto history, and because of that, it has become a perfect tool to target retail investors. The cycle still exists.

Cathie Wood Lowers Bitcoin Price Target for 2030 to $1.2 Million

ARK Invest founder and CEO Cathie Wood adjusted her long-term outlook for Bitcoin, lowering her 2030 price target by $300,000. Specifically, she now expects this leading global cryptocurrency to reach about $1.2 million, down from her previous forecast of $1.5 million.
Wood said that the rise of stablecoins prompted her to lower her bullish outlook for Bitcoin. However, she still views Bitcoin as an important part of the digital economy.
Despite the downward revision, Wood remains confident in Bitcoin. She describes it as a global, decentralized monetary network, functioning as a store of value similar to gold.
She also pointed out that stablecoins and Bitcoin serve very different purposes. Stablecoins are essentially “tokenized cash,” while Bitcoin remains a scarce, non-sovereign asset suitable for long-term wealth preservation.

Santiment: Major Divergence Between Bitcoin Whales and Retail Investors Is a Warning Signal

According to Santiment, while Bitcoin whales are selling, retail investors are buying heavily. If history is any guide, this pattern could signal trouble for Bitcoin’s price.
In a market report on Saturday, Santiment said, “Historically, prices tend to follow whales’ movements rather than retail investors.” Since October 12, whale wallets holding 10 to 10,000 BTC have sold about 32,500 BTC. However, Santiment added, “small retail wallets have been actively buying on dips.”
Santiment considers this divergence among different groups a “warning signal.”
Data from CoinMarketCap shows that during this period, Bitcoin’s price fell from $115,000 to $98,000 on November 4, a decline of about 15%. At the time of this writing, Bitcoin has rebounded to $103,780.

Ethereum

Ethereum Foundation Announces Fusaka Upgrade, Mainnet Activation Planned for December 3

The Ethereum Foundation announced the Fusaka upgrade, which is scheduled to activate at Ethereum mainnet slot 13,164,544, expected at 21:49:11 UTC on December 3, 2025. This upgrade introduces the Blob parameter (BPO) fork to safely expand blob throughput after PeerDAS activation.
Fusaka’s main feature is PeerDAS (Peer Data Availability Sampling), which significantly enhances blob throughput. It also optimizes execution and consensus layers to improve L1 performance and user experience.

Opinion: Ethereum Is Entering Final Adjustment Phase, Could Drop to $3400

On November 4, well-known crypto analyst @IamCryptoWolf posted on X that Ethereum is entering the final stage of its adjustment begun in August, part of a larger pattern starting around $1500. If Ethereum cannot quickly return to $3900, it might be a good opportunity to buy at around $3400.

Ethereum’s TPS Reaches Record High of 24,192 Transactions Per Second

Ethereum achieved a record high of 24,192 TPS, with the L2 network Lighter continuously contributing about 4,000 transactions per second since launch.

Data: Ethereum’s stablecoin supply reaches $184.1 billion, a new all-time high

Ethereum’s stablecoin supply has reached $184.1 billion, setting a new record.

Ethereum Validators Queue Surges, Over 1.5 Million ETH Waiting for Staking

The validator queue on Ethereum continues to grow, with about 1.5 million ETH waiting to be staked, while approximately 2.45 million ETH are in the exit queue. Analysts note this trend indicates sustained confidence in Ethereum’s long-term prospects, with validators willing to accept delays and risks associated with locking funds to support network security and earn rewards.

Other Projects

Humanity Protocol Uses Mastercard Open Financial Technology

Humanity Protocol leverages Mastercard’s open financial technology to enable secure access to financial services via Humanity ID.

Ripple Acquires Custody and Wallet Tech Company Palisade

Ripple announced on Monday the acquisition of custody and wallet technology firm Palisade, aiming to expand its custody capabilities for fintech companies, crypto-native firms, and large enterprises. This year, Ripple has made several acquisitions totaling about $4 billion, including the April purchase of trading broker Hidden Road for $1.25 billion, the $200 million acquisition of stablecoin platform Rail, and last month’s $1 billion purchase of enterprise financial management platform GTreasury.
Ripple stated that Palisade’s fast, lightweight wallet combined with its bank-grade vault will create end-to-end institutional custody services, covering long-term asset storage, real-time global payments, and corporate financial management.

Fomo Cryptocurrency Trading App Completes $17 Million Series A Funding Led by Benchmark

On November 6, TechCrunch reported that consumer crypto trading app Fomo announced the completion of $17 million in Series A funding, led by venture capital firm Benchmark, bringing its total funding to $19 million.
Fomo was founded by Paul Erlanger and Se Yong Park, who previously worked at crypto exchange dYdX. Launched in May this year, the app aims to provide cross-chain crypto trading services, supporting major cryptocurrencies like Bitcoin, Ethereum, Solana, as well as meme coins and altcoins.

SuiLend: Elixir Has Repaid All USDC Debt, Previously Isolated Lending Market Withdrawal Function Restored

SuiLend, a lending protocol in the Sui ecosystem, announced on X that the Elixir team has repaid all USDC debt, and the previously isolated lending market withdrawal function has been restored.
SuiLend had been closely monitoring a significant loss issue involving Stream Finance, with reports indicating its largest single exposure of $93 million in deUSD losses.

Commonware Completes $25 Million Funding, Tempo Leads

Crypto infrastructure company Commonware announced it has completed $25 million in funding, led by Tempo. Founder Patrick O’Grady declined to disclose other investors but said the company is committed to developing open-source code to help others launch their own blockchain projects.

Digital Asset Infrastructure Firm OFA Group Completes $50 Million Private Equity Round

OFA Group, a digital asset infrastructure company, announced it has completed $50 million in private equity funding, led by Greentree Financial Group and TriCore Foundation. The new funds will support the development of blockchain infrastructure for tokenized real-world assets and expand its digital asset treasury.