Gate Research: ORE Daily Revenue Surpasses $1M | x402 Protocol Ecosystem Trading Volume Plummets 90%

Crypto Market Overview

• BTC (3.81% | Current Price: 105,865 USDT): BTC stabilized around $103,000 before accelerating upward, reaching a short-term high of $106,683, followed by a minor pullback at the top, indicating short-term profit-taking pressure. Overall, the short-term trend remains bullish, but upward momentum has slightly slowed. Investors should watch the $105,000 support level and the potential breakout above $106,700. On November 7, BTC ETFs saw a net outflow of $558 million, including $131 million from BlackRock’s IBIT and $256 million from Fidelity’s FBTC.
• ETH (6.81% | Current Price: 3,628 USDT): ETH gained support around $3,480 and started a new upward leg, reaching a short-term high of $3,658, followed by a minor technical pullback at the top—a healthy consolidation. Overall, ETH’s short-term trend remains strong, though resistance is gradually emerging. Investors should monitor the $3,600 support level and the potential breakout around $3,700 to assess trend continuation or short-term correction. On November 7, ETH ETFs had a net outflow of $46.6 million, including a $34.4 million inflow from BlackRock’s ETHA and a $72.2 million outflow from Fidelity’s FETH.
• Altcoins: Most major altcoins continued to decline, with overall market sentiment remaining cautious. Investor sentiment is predominantly neutral. The Fear & Greed Index stands at 29 today, within the “fear” zone, indicating persistently low risk appetite.
• Macro: On November 7, the S&P 500 rose 0.13% to 6,728.80 points; the Dow Jones increased 0.16% to 46,987.10 points; the Nasdaq fell 0.21% to 23,004.54 points. As of 3:00 AM (UTC) on November 10, spot gold is priced at $4,047 per ounce, up 1.18% in the past 24 hours.

Trending Tokens

COTI Coti (+55.38%, Market Cap: 133 million USD)

According to Gate market data, COTI is currently priced at 0.052 USD, up approximately 55.38% in the past 24 hours. Coti (Currency Of The Internet) is a blockchain-based financial infrastructure focusing on digital payments and stablecoin issuance. It uses DAG (Directed Acyclic Graph) technology and its proprietary Trustchain consensus algorithm to achieve higher scalability, faster transactions, and lower fees.

COTI’s recent surge is driven by the launch of its privacy Layer2 mainnet and ecosystem incentive programs. The project introduced a native privacy token on Ethereum and integrated it into MetaMask Snap, allowing users to send and receive private tokens directly via their wallets—marking a practical implementation of COTI’s privacy network. Additionally, Yaru Create has adopted COTI as a private backend (CRM solution), demonstrating its potential in Web2.5 scenarios. By combining speed, cost efficiency, and privacy, COTI opens new possibilities for “programmable privacy” applications. Meanwhile, COTI Earn launched a “point retention bonus” mechanism—participants in the first season who retain points in their wallets can earn an extra 15% reward in season two—strengthening long-term holding incentives and fueling market sentiment.

RESOLV Resolv (+36.09%, Market Cap: 20.51 million USD)

Gate data shows RESOLV is trading at 0.13 USD, up approximately 36.09% in 24 hours. Resolv is a DeFi protocol whose core is issuing a stablecoin called USR, backed by ETH and BTC. It maintains the USR-to-USD peg using a “Delta Neutral” strategy, which hedges ETH and BTC price volatility via perpetual contracts, achieving stability without relying on traditional fiat reserves.

Resolv’s strong performance is supported by multiple positive factors. Its social media influence has expanded, with followers surpassing 50,000 by the end of October. The team has boosted community engagement through AMAs and virtual seminars, with monthly active users accounting for 56% of total followers. On the ecosystem side, over 200 million USD in assets are actively deployed across Ethereum, Arbitrum, Base, and Plasma, making Resolv a core infrastructure. Resolv has also integrated Aave’s Horizon platform for institutional and risk-weighted assets, further enhancing capital efficiency. Weekly buyback plans continue, with a recent round on November 3 totaling approximately 215,000 USD of RESOLV repurchased at an average price of 0.046 USD, funded by 20% of core protocol fees, reinforcing market confidence and token value.

1INCH 1inch (+11.8%, Market Cap: 307 million USD)

Gate market data shows 1INCH is currently priced at 0.219 USD, up about 11.8% in the past 24 hours. 1inch is a decentralized finance (DeFi) aggregation platform that connects multiple decentralized exchanges (DEXs) to provide users with optimal token swap rates and minimal trading costs. Its core Pathfinder algorithm automatically optimizes trade paths and distributes orders across liquidity pools and exchanges to reduce trading costs and gas fees.

As crypto market sentiment improves, DeFi funds are returning, and veteran aggregator 1inch has become a capital focus. Recently, the team’s investment fund transferred 5 million USDC to exchanges, fueling market expectations of potential capital operations and ecosystem moves. Following this, 1INCH surged past 0.20 USD within eight hours, an increase of 29%. On-chain activity also rose sharply, with daily transactions jumping from 1,000 to 4,800, and active addresses increasing from 324 to 551.

Alpha Insights

ORE Hits $1 Million in Daily Revenue, V2 Protocol Ignites Solana Mining Frenzy

The Solana ecosystem mining protocol ORE recorded a single-day revenue exceeding $1 million on November 9, setting a new historical high. Since the launch of its V2 mining protocol, ORE has rapidly regained market attention, driving both token price and protocol revenue higher. The new version uses a 5×5 grid mining system with 1-minute rounds, where miners stake SOL to compete for blocks. Unsuccessful stakes are redistributed to winners, who also have a chance to earn additional ORE rewards. Additionally, the V2 Motherlode pool introduces random incentives, further enhancing gamification and participation. Data shows that before mid-October, ORE’s daily revenue remained at a few thousand dollars, with a low of about $548. Starting October 22, revenue surged dramatically, reaching the hundred-thousand-dollar range within just over ten days, and eventually surpassing $1 million in November.

ORE’s surge marks a phase of success for “gamified mining” within the Solana ecosystem. The V2 protocol’s innovative mechanisms and strong incentive structure have activated both on-chain miners and speculative capital, pushing previously low revenues to new highs. However, from a sustainability perspective, the current spike is largely driven by short-term speculation and intensive participation rather than steady long-term demand. Going forward, if ORE can build a stable miner ecosystem and a real hashpower economy beyond incentives, its growth potential remains significant; otherwise, as rewards stabilize and hype fades, the protocol may face declining activity.

x402 Protocol Trading Volume Plummets 90% in Half a Month

The x402 protocol, which attracted market attention in late October, has cooled significantly. With the fading of the AI payment narrative, ecosystem activity has dropped sharply. According to x402scan, daily trading volume peaked at approximately $2.84 million on November 3 but fell to just $283,600 by November 9—a decline of over 90%. Meanwhile, the pace of new sites and services supporting x402 payments has slowed dramatically: at its peak, over 10,000 new additions occurred daily, whereas current growth is under 2,000 per day, indicating a clear slowdown in ecosystem expansion.

x402’s rapid rise and subsequent fall reflect the short-lived nature of the recent “AI+payment” narrative—market sentiment has outweighed real demand. While the protocol initially gained attention through technical concepts and social amplification, the sharp drop in trading volume and ecosystem growth shows that sustainable user retention and real usage scenarios have yet to be established. For x402 to reignite growth, it must shift from a “narrative-driven” model to an “application-driven” one, optimizing payment experiences and expanding real-world business integrations to regain market attention and trust.

Filecoin Partners with Avalanche to Build Native Cross-Chain Data Bridge, Accelerating Modular Infrastructure Deployment

Filecoin announced a strategic partnership with Avalanche to build a native cross-chain data bridge on Avalanche C-Chain using the Filecoin Virtual Machine. This initiative aims to enable efficient data flow across chains, supporting modular cross-chain infrastructure development. The partnership is intended to enhance interoperability and provide decentralized applications (dApps) with more convenient and secure channels for data sharing and interaction.

The collaboration highlights a trend of deep integration between Layer1 blockchains and storage-layer ecosystems. As multi-chain ecosystems become increasingly complex, cross-chain data transfer capability is critical to infrastructure development. Filecoin and Avalanche’s partnership not only improves the efficiency and security of data bridges but also provides greater flexibility for dApp developers. In the long term, native cross-chain infrastructure like this is expected to become a key support for multi-chain application deployment, DeFi, and Web3 data services, while showcasing the core value of modular design in blockchain ecosystems.


References

• Gate, https://www.gate.com/trade/BTC_USDT
• Farside Investors, https://farside.co.uk/btc/
• Gate, https://www.gate.com/trade/ETH_USDT
• Farside Investors, https://farside.co.uk/eth/
• Gate, https://www.gate.com/crypto-market-data
• Investing, https://investing.com/indices/usa-indices
• Investing, https://investing.com/currencies/xau-usd
• CoinGecko, https://www.coingecko.com/categories
• Dune, https://dune.com/n2scapital/ore
• x402scan, https://www.x402scan.com/composer
• X, https://x.com/filecoin/status/1987508746906370441

Gate Research is a comprehensive blockchain and cryptocurrency research platform that provides deep content for readers, including technical analysis, market insights, industry research, trend forecasting, and macroeconomic policy analysis.

Disclaimer
Investing in cryptocurrency markets involves high risk. Users are advised to conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such decisions.