Today we cover the key events that set a bullish tone across the crypto space, from Donald Trump’s recent election victory and its influence on Bitcoin and SEC Chair Gary Gensler, to a new Ripple (XRP) ETF race and Cardano’s latest upgrade.

Cardano’s Node 10.11 updаte Brings Decentralization
Cardano’s Node 10.11 upgrade launched on November 1, marking a new era for the blockchain’s governance. The updаte, initiated by Intersect MBO, paves the way for a more decentralized decision-making process, aligned with CIP-1694, and marks Cardano’s maturity in on-chain governance. Despite this positive development, Cardano founder Charles Hoskinson faced mixed reactions from the community after posting a provocative poll about his role in Cardano.

XRP ETF Race Intensifies
Grayscale introduced an XRP Trust, allowing early investment in XRP without full ETF approval. Meanwhile, 21Shares and BitWise applied for official XRP ETFs, with Ripple CEO Brad Garlinghouse expressing optimism about SEC approval. This push in XRP ETFs has further raised interest in XRP products despite ongoing regulatory uncertainties.

Bitcoin’s Record High Amid Trump’s Victory
Bitcoin soared to an all-time high of $77,000 following Donald Trump’s recent presidential win. His election win drove new interest in crypto, and positive signals like the Federal Reserve’s interest rate cut only added to the momentum. Risk-on assets, including BlackRock’s IBIT, saw increased interest as markets anticipated regulatory relief under Trump’s administration.
At the time of publication, the value of the first cryptocurrency is $82,200.

Ripple Sees Surge in Institutional Demand
Ripple’s Q3 report highlights a spike in XRP transactions, largely driven by institutional demand. Notably, the Chicago Mercantile Exchange joined in offering XRP products. CEO Brad Garlinghouse noted that this strong market interest reinforces Ripple’s credibility, even amid regulatory challenges from the SEC.

Justin Sun’s Surprising Offer to Gensler
In a playful twist, Tron founder Justin Sun extended a job offer to SEC Chair Gary Gensler if Trump follows through on his promise to fire him. Sun’s offer, likely satirical, reflects Gensler’s controversial stance on crypto regulations, which has earned him many adversaries in the industry. Sun expressed support for Trump’s pro-crypto stance, hoping for a more favorable regulatory environment.