Crypto Roundup — Key Highlights Date: November 11, 2026 >> Here are 15 updates worthy of note: ➡️ Crypto News & Macro 🔹 ⭐️ U.S. Inflation / Federal Reserve — October headline CPI rose 0.4%, above the expected 0.3%, while core inflation increased 0.3%, exceeding the 0.2% forecast. The hotter inflation print has strengthened expectations of another Fed rate hike in December, putting additional pressure on Bitcoin, technology stocks and other risk assets. 🔹 Bitcoin — $BTC is trading around $74K following the inflation report. The $73K region remains an important downside monitoring zone, while reclaiming $78K–$80K would strengthen the recovery outlook. 🔹 ⭐️ Bitcoin ETFs — U.S. spot BTC ETFs recorded $201M in outflows on November 9, bringing net withdrawals across the six completed November trading sessions to approximately $1.48B. BlackRock's IBIT accounted for $213.2M of Monday's selling, while Morgan Stanley's MSBT attracted $22.1M. 🔹 Ethereum — $ETH ETFs recorded another $184.6M in withdrawals on November 9, bringing cumulative November outflows through that session to approximately $549.8M. BlackRock's ETHA led the selling with $119.3M in redemptions. Institutional demand remains weak despite continued Ethereum ecosystem development. ➡️ Stablecoins & Liquidity 🔹 ⭐️ Stablecoin Market — Total stablecoin capitalization has fallen to approximately $288.9B, declining nearly 4.9% over 30 days. The continued contraction in dollar-denominated crypto liquidity remains a significant obstacle to a sustained altcoin recovery. 🔹 Ethena $USDe / Ripple $RLUSD — Both stablecoins have recorded positive seven-day supply growth despite the broader market contraction. Meanwhile, $USDS and $USD1 have experienced double-digit weekly supply declines. The divergence suggests stablecoin demand is becoming increasingly selective rather than expanding across the entire sector. ➡️ Perp DEXs & Prediction Markets 🔹 ⭐️ Perp DEX Sector — Decentralized perpetual exchanges recorded approximately $25.97B in 24-hour trading volume, with sector open interest declining to $12.06B. Trading activity remains significant, but falling open interest suggests leveraged exposure is continuing to contract. 🔹 Hyperliquid — @HyperliquidX maintains approximately 55% of perpetual DEX open interest, recording around $10.14B in daily trading volume. However, $HYPE has reportedly declined approximately 18% over seven days despite continued protocol fee generation, highlighting the divergence between protocol performance and token valuation. 🔹 @Antarctic_ex — Emerging perp DEX Antarctic recorded approximately $4.27B in seven-day trading volume, up around 94% over its comparison period, according to DefiLlama's reported rankings. The increase makes it a protocol worth monitoring, particularly for sustainable fees, active traders and organic liquidity. 🔹 ⭐️ Wall Street vs. Perpetual Futures — CME Group and a coalition involving Cboe and Citadel are challenging the CFTC's treatment of U.S.-listed crypto and single-stock perpetual futures. The dispute centres on margin requirements, capital rules and whether perpetual contracts should be regulated more like swaps. The outcome could significantly influence institutional derivatives access and competition with Hyperliquid, Aster and other crypto-native trading platforms. ➡️ Institutional Adoption & Alpha 🔹 ⭐️ Securitize — Tokenization firm Securitize reported a record $5B in average tokenized assets during Q3 2026, representing 39% year-over-year growth. Quarterly revenue reached $18.6M, up 13% YoY, although the company also reported a $66.3M net loss, largely reflecting non-cash and listing-related expenses. Securitize also announced an agreement to acquire River One, expanding its position in institutional asset-backed financing. 1/2