Crypto Market Surges: LAVA Skyrockets 184% While Quack Plummets 45% in 24 Hours

Crypto Market Today: Coinbase Expands Staking, Solana ETF Gains Momentum, Dorsey Unveils Bitcoin Wallet Feature

The global cryptocurrency market continues to capture investor attention, with the total market capitalization climbing to $4.3 trillion, reflecting a 0.4% gain in the last 24 hours. Trading activity remains robust, with a total daily volume reaching $184 billion, signaling sustained liquidity across major digital assets.

Bitcoin retains its dominance, accounting for 56.9% of the market capitalization, followed by Ethereum at 12.6%. Meanwhile, Polkadot and XRP are among the top-performing ecosystems, driving sector momentum and highlighting the growing diversification of the market.

Bitcoin and Major Market Movers

Bitcoin (BTC) has maintained its upward trajectory, trading at $122,466, a 0.5% increase in the past day, with a trading volume of $60.4 billion and a market capitalization of $2.4 trillion. Analysts cite strong investor confidence and a broad market recovery as key factors supporting BTC’s performance.

Source: Forex Factory

Top trending cryptocurrencies over the past 24 hours include:

• Zcash (ZEC): $174.14, up 33.9%, with trading volume of $671 million.

• Mantle (MNT): $2.78, up 19.1%, with $735 million in volume.

• Aster (ASTER): $1.86, down 8.3%, trading $1 billion.

• Undeads Games (UDS): $2.18, up 14.6%, with $1.4 million in volume.

• SX Network (SX): $0.1002, up 0.8%, with volume of $113,000.

Among the top gainers:

• Lava Network (LAVA) surged 184.4% to $1.9579, trading $8.7 million.

• ChainOpera AI (COAI) climbed 80.7% to $5.64, trading $31 million.

• Railgun (RAIL) advanced 69.4% to $2.04, with $2.5 million in volume.

Meanwhile, notable market declines include Quack AI (Q) down 45.4% to $0.024, Palu (PALU) down 35.9% to $0.063, and Real (REAL) falling 32.2% to $0.044.

The decentralized finance (DeFi) sector continues to show growth, with a market cap of $168 billion (+0.5%) and a trading volume of $9.1 billion. Stablecoins remain significant, representing $309 billion of market capitalization (+0.2%) with $141 billion in daily transactions.

Source: Alternative Me

The Fear and Greed Index indicates a market sentiment of 70, up from 60 yesterday and 48 last month, signaling investor optimism tempered by caution as confidence returns amid strong Bitcoin performance.

Jack Dorsey’s Block Expands Bitcoin Payments

In a significant move for crypto adoption, Jack Dorsey’s Block, the payments company formerly known as Square, has launched a Bitcoin wallet and merchant payments feature. The system allows small and medium-sized businesses to accept Bitcoin and automatically convert up to 50% of daily revenue into BTC, branded as Bcoin, without transaction fees.

“Square is uniquely positioned to make Bitcoin everyday money,” said Miles Suter, Block’s Head of Bitcoin Product. The new feature will roll out on November 10 and aims to integrate Bitcoin into mainstream commerce, offering businesses seamless access to digital asset transactions. Analysts see this as a potential catalyst for increased BTC adoption among retail and commercial users.

Solana ETF Gains Traction With Staking Rewards

Bitwise has updated its Solana ETF filing to include staking rewards, a strategic move signaling growing institutional confidence in Solana despite ongoing SEC scrutiny. The ETF carries a 0.20% management fee, which is waived for the first three months or for assets under management up to $1 billion.

Analyst James Seyffart notes that the inclusion of staking rewards makes the Solana ETF more attractive to investors seeking both price appreciation and yield opportunities, bridging the gap between traditional investment vehicles and decentralized finance exposure.

Coinbase Expands Staking Services in New York

Coinbase has officially launched staking services in New York for Ethereum, Solana, and Cosmos. Cosmos offers the highest returns at 16%, while Ethereum yields approximately 1.9%, reflecting recent regulatory clarity in the state.

This expansion aligns with Coinbase’s broader strategy to provide passive income opportunities for crypto holders, supporting long-term ecosystem engagement. Coinbase users can now stake directly within the platform, enhancing usability and incentivizing longer-term investment strategies.

Base Layer Hints at Governance Token

Coinbase’s Ethereum Layer-2 network, Base, has opened hiring for a Token & Governance Research Specialist, signaling potential future plans for a native token. While no official launch has been confirmed, the move suggests the team is preparing for token mechanics and governance structures that could enable users to participate in decision-making and protocol incentives.

Industry Updates and Corporate Moves

Other notable market developments include:

• Revolut Expansion in UAE: CEO Nikolay Storonsky relocates to the UAE as part of the company’s Gulf expansion strategy. The move underscores Dubai’s growing reputation as a crypto-friendly financial hub, following changes in the UK’s tax policy that affected fintech operations.

• OKX CEO Defends Engagement Strategy: OKX CEO Star clarified recent criticism of wallet engagement programs in Chinese-speaking markets, emphasizing that these programs are legitimate methods of promoting user activity, not multi-level marketing schemes.

• Binance Founder Reflects on Meme Culture: CZ, Binance’s CEO, discussed his evolving engagement with meme culture on X (formerly Twitter), noting that while initially hesitant, community engagement often relies heavily on humor and viral content.

• Gemini Expands to Australia: Gemini has officially launched operations in Australia under AUSTRAC regulation, offering localized cryptocurrency services. This expansion comes as crypto adoption in Australia reaches approximately 31% in 2025.

Looking Ahead

With continued innovation across wallets, staking, and ETFs, coupled with strong retail and institutional adoption, the crypto market appears poised for further growth. Investors are closely watching regulatory developments, new product launches, and ecosystem expansion as indicators of market direction.

Market analysts advise keeping an eye on high-volume coins like Bitcoin and Ethereum, as well as emerging networks such as Solana and Polkadot, which are seeing increased institutional activity and product adoption. The combination of staking yields, ETFs, and merchant integration tools such as Block’s Bitcoin payments is likely to attract both mainstream and professional investors in the coming months.

As the global cryptocurrency market continues to mature, developments in infrastructure, regulatory clarity, and ecosystem expansion will play critical roles in shaping the next wave of digital asset adoption.

Writer @Ellena

Erlin is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.

 

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