Internet Capital Markets (+35.88% in 24h) – Innovation in DEX and liquidity refunds drive rotations in altcoins, with JELLYJELLY (+118% in 7 days) leading speculative flows.

Revitalization of Privacy Coins (leader in momentum) – Regulatory fears and debates over CBDC promote protected transactions, with Decred (DCR) (+60% in 7 days) standing out.

Infrastructure of Stablecoins (initial upward trend) – Tether's Plasma (XPL) and Circle's Arc compete for dominance in settlements,

Attention: the SEC's response to the approval of Grayscale's Solana ETF (November 3, 2025), which could expand ETF eligibility for privacy tokens.

3. Infrastructure of Stablecoins (initial upward trend)

Summary:

Layer 1 blockchains focused on stablecoins, such as Plasma (XPL) and Tether's Stable, seek 24/7 settlements, with a stablecoin market capitalization exceeding $295 billion. The mainnet beta of XPL attracted $2 billion in TVL, but its price fell 67% in 30 days due to concerns about its total circulating valuation ($10 billion).

What it means:

Institutions prioritize regulation-compliant channels (for example, USDC settlements through Visa), but retail adoption relies on a commission-free user experience.

Conclusion

Internet Capital Markets and Privacy Coins are absorbing liquidity from major cooling cryptocurrencies (BTC -6.6% in 7 days), while bets on Infrastructure of Stablecoins increase ahead of the MiCA deadline in March 2026. Watch BTC support at $107,000: a drop could accelerate rotations towards narratives with lower correlation. Will flows return to ETFs after Fed rate cuts, or are we facing a liquidity trap? So pay close attention to the charts at these moments $XPL