Japan's Financial Services Agency announced November 7 its support for a stablecoin initiative involving three major banking groups. Finance Minister Satsuki Katayama confirmed the agency will evaluate cross-border payment applications from Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group. The three banks, serving over 300,000 business partners collectively, had announced their collaboration approximately three weeks earlier.

Elixir has suspended redemptions for its deUSD stablecoin after borrower Stream Finance defaulted on $68 million in outstanding debt. Stream Finance reported $93 million in trading losses that triggered the collapse. The synthetic dollar token plummeted to $0.015 within hours as reserves failed to maintain the 1:1 peg.

Bitwise has triggered a 20-day automatic effectiveness period for its spot Dogecoin ETF by removing a delaying amendment from its S-1 registration on November 7, 2025. Under Section 8(a) of the Securities Act, the filing will become effective automatically unless the SEC intervenes. The fund could begin trading around November 26, 2025, if no regulatory action is taken.

ZKSync rose 15% to $0.076 on November 6 before retracing approximately 12% from its local peak. Technical analysis shows the token trading in a range between $0.066 support and $0.077 resistance. Liquidation data indicates potential movement toward the $0.064-$0.065 zone within one to two sessions, with upside targets near $0.079.

Ethereum declined 18% in Q4 compared to Bitcoin's 9.41% loss, with the ETH/BTC ratio falling 7% this week and breaking below the 0.36 level that held through October. Whales accumulated 394,682 ETH worth $1.37 billion on November 4 when prices dropped to $3,000, establishing an average cost basis of $3,488. Ethereum Open Interest has decreased $30 billion since mid-October, exceeding Bitcoin's $24 billion decline and indicating a deeper leverage flush.

U.S.-listed Solana spot ETFs recorded $9.7 million in net inflows over 24 hours, with Bitwise's BSOL contributing $7.5 million and Grayscale's GSOL adding $2.2 million, data show. The two funds have attracted a combined $294 million since launch. SOL rebounded from support near $150 as derivatives data showed negative funding rates of -0.179 and $2.636 million in short liquidations.

The 1inch token surged 29% after the project's investment fund acquired $5 million worth of tokens on Binance at $0.15, according to Arkham data. Network activity intensified as transactions rose from 1,000 to 4,800 within 24 hours and active addresses increased from 324 to 551. The token encountered resistance at $0.20, with gains moderating to 17% at press time.

Three major altcoins show pronounced technical weakness as selling pressure intensifies. XRP's 50-day moving average nears a bearish crossover below its 200-day moving average, potentially forming a death cross within days. Ethereum trades near $3,600 after breaking below its 200-day moving average, while Cardano's RSI has dropped to 31, indicating extreme oversold conditions with all major exponential moving averages aligned in a death cross pattern.