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US spot Bitcoin ETFs recorded USD 398.62 million in net outflows, led by BlackRock's IBIT with USD 405.30 million in withdrawals.
Zcash's upcoming NU7 upgrade aims to reduce block times from 75 to 25 seconds.
Arbitrum's Security Council secured 8,425 ETH and over 74.5 million ARB linked to the Binance hack.
The crypto market saw several key developments as spot Bitcoin ETFs recorded USD 398 million in net inflows, while Zcash prepared to triple transaction speeds through an upcoming upgrade. Meanwhile, Cardano slipped below USD 0.19, and Arbitrum moved stolen crypto assets linked to the Binance hack.
SoSoValue data shows that Bitcoin Spot ETFs saw a total net outflow of USD 398.62 million yesterday. The Bitcoin Spot ETF with the highest net inflow yesterday was Fidelity's ETF FBTC, with a daily net inflow of USD 6.68 million, and the total historical net inflow of FBTC currently stands at USD 10.18 billion.
The Bitcoin Spot ETF with the highest net outflow yesterday was BlackRock's ETF IBIT, with a daily net outflow of USD 405.30 million, and the total historical net inflow of IBIT currently stands at USD 65.91 billion.
The total net asset value of Bitcoin Spot ETFs is USD 98.12 billion, with an ETF net asset ratio of 6.36%. The historical cumulative net inflow has reached USD 56.58 billion.
Zcash is preparing to triple transaction speed as its NU7 network upgrade approaches November 5, but governance tensions and falling prices are testing investor confidence.
The Zcash upgrade will reduce target block times from 75 seconds to 25 seconds, making transaction confirmations significantly faster. The activation is planned for block height 3,543,405, according to the network’s deployment schedule.
The upcoming Zcash upgrade introduces several changes beyond faster block production. Under ZIP 218, the network will target a new block every 25 seconds, down from 75 seconds. This could reduce the waiting time for three transaction confirmations from nearly four minutes to around 75 seconds.
Also Read: Crypto Prices Today: Bitcoin Slips to USD 76,500 as US Midterm Voting Begins
Cardano (ADA) remains under pressure on Tuesday, trading around USD 0.188 after losing an important support level in the previous session. Its derivatives market is showing signs of uncertainty as traders weigh the possibility of a price recovery against the risk of another decline.
CoinGlass reported that ADA’s long-to-short ratio stood at 0.8248 on Tuesday, approaching its lowest reading in more than a month. The cryptocurrency has slipped below a previously rising support trendline, which now acts as resistance around USD 0.218.
On Monday, November 2, Standard Chartered announced the launch of its corporate tokenized deposit solution in Hong Kong. With this move, it becomes the first market within the group to deploy this service.
The initiative, backed by the Hong Kong Monetary Authority (HKMA) EnsembleTX infrastructure, enables the real-time settlement of commercial funds and operates 24/7 using central bank money and wCBDC.
The proposal integrates regulated bank deposits with blockchain programmability on the institution’s proprietary infrastructure. This structure optimizes treasury management and interbank liquidity, drastically mitigating counterparty risk.
Arbitrum’s Security Council used a temporary contract upgrade to move cryptocurrency linked to the Binance hack. Its emergency action stopped the attacker from moving those assets, but deciding their destination belongs to a separate governance process.
Arbitrum’s Security Council has moved 8,425 ETH and 74,559,805.2 ARB linked to the Binance hack into a holding address whose funds require a DAO governance vote to move again.
Arbitrum’s emergency-action notice says the intervention took place at 08:08 HKT on October 30. Contributors prepared a temporary change to the network’s Ethereum inbox contract, council members verified and signed it, and the original implementation was restored after the transfers.
Also Read: Bitcoin and Ether Outlook: How the Binance Hack is Affecting Prices
1. Why did Bitcoin spot ETFs record significant outflows?
Bitcoin spot ETFs recorded net outflows of USD 398.62 million, with BlackRock's IBIT accounting for USD 405.30 million in withdrawals. The outflows indicate selling pressure, although the available data does not establish the exact reasons behind investors' decisions.
2. How will the Zcash NU7 upgrade improve transaction speed?
The Zcash NU7 upgrade aims to reduce block times from 75 seconds to 25 seconds, potentially tripling block production speed. This could shorten the time required for three confirmations from approximately four minutes to 75 seconds.
3. Why is Cardano trading below USD 0.19?
Cardano declined to approximately USD 0.188 after breaking below an important technical support level. According to CoinGlass, its long-to-short ratio of 0.8248 suggests cautious positioning among derivatives traders.
4. What is Standard Chartered's new tokenized deposit service?
Standard Chartered launched a corporate tokenized deposit solution in Hong Kong on November 2, enabling round-the-clock settlement. The service uses blockchain-based infrastructure to improve treasury management, liquidity, and transaction efficiency.
5. How did Arbitrum secure cryptocurrency linked to the Binance hack?
Arbitrum's Security Council temporarily modified a network contract to transfer 8,425 ETH and over 74.5 million ARB into a protected wallet. The secured assets cannot be moved again without an ArbitrumDAO governance vote.
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