Bitcoin has broken through the $119,000 barrier, reigniting enthusiasm in the crypto market. Ether follows closely, surpassing $4,400, showcasing strong upward momentum. Notably, BNB and Solana have also performed well, especially Solana, which seems to have regained its confidence after previous setbacks.

The recent pump in the crypto market is reflected not only in prices but also in the development of the entire ecosystem. For example, the USD1 stablecoin is set to be issued on the Aptos network, which will bring more liquidity and use cases to the network. Thailand is considering expanding its cryptocurrency ETF to assets beyond Bitcoin, which will undoubtedly bring more institutional funds into the market.

Meanwhile, the prediction market Polymarket is about to reopen to US users, which will bring more participants and liquidity to the crypto market. Metaplanet has increased its holdings by 5,268 BTC, bringing its total holdings to 30,823, demonstrating institutional investors' confidence in the long-term value of Bitcoin.

In terms of technological innovation, BNB Chain announced that the minimum Gas price on the network has been reduced to 0.05 Gwei, which will significantly lower users' transaction costs. The collaboration between Sui, SUI Group, and Ethena to issue the stablecoin suiUSDe will bring more financial application scenarios to the Sui ecosystem.

It is worth mentioning that Strategy made a large purchase of 42,706 Bitcoins in the third quarter of this year, worth over $5 billion. This large-scale institutional investment will undoubtedly provide strong support for the price of Bitcoin.

With the continuous development of the crypto market, traditional financial institutions are also beginning to actively position themselves. WLFI plans to launch a new debit card and is considering tokenizing traditional asset classes such as real estate and oil, which will bring more application scenarios and investment opportunities to the crypto market.

Despite the high market sentiment, investors still need to remain rational. Although some have called for Bitcoin to reach $200,000, the market's trend remains full of uncertainty. Regardless, the current market performance undoubtedly injects a boost to the future development of encryption.