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Gate Research: On November 27, BTC and ETH respectively reclaimed the key psychological levels of $90,000 and $3,000, igniting a broad recovery across the cryptocurrency market. Platform tokens, exemplified by GT, surged strongly, while market sentiment exhibited marked improvement. In the hotspot token sector, Merlin (+157.95%) exploded over 150% due to its mainnet upgrade and short-squeeze dynamics; XION (+98.6%) rose nearly 100%, propelled by robust KRW trading pair activity and strong purchasing power from Korean investors; and the popular BSC memecoin BANANAS31 (+66.62%) saw trading volume skyrocket to $470 million, driven by resonant community engagement and capital inflows that propelled its price higher. S&P downgraded Tether-USDT's rating to "Weak," refocusing attention on stablecoin risks; the Cosmos community initiated research on a new tokenomics model for ATOM, aiming to replace inflation incentives with ecosystem revenue sharing; and Ethereum co-founder Vitalik donated 128 ETH each to privacy me

Gate Research Weekly Report: BTC and ETH have both reclaimed key psychological levels at $90,000 and $3,000, respectively, signaling a clear recovery in market sentiment. Funds are rotating across multiple sectors, including exchange tokens, Layer-1s, and meme coins. S&P downgraded Tether–USDT’s stability rating to “Weak” but Stable; the Cosmos community has initiated a new ATOM token proposal, reigniting debate over token-economic risks; and Ethereum co-founder Vitalik donated to privacy-focused communication efforts. Plasma’s token has fallen 90% from its early peak, with the project still far from delivering on its ambitious promises. Bitcoin faces a $13.6 billion monthly options expiry this Friday, with 77% of open interest sitting out-of-the-money. Resulting hedging flows may continue to amplify short-term volatility.