Blockchain Morning Report:

JPMorgan Report: Bitcoin mining revenue and profits have been declining for four consecutive months.

Coinbase Chief Legal Officer Discloses: Over 20 FDIC-regulated banks have been asked to pause or cease providing cryptocurrency banking services.

Web3 Funding Trends: In the first to third quarters of 2024, Web3 companies raised a total of $540 million.

Rena Shah Comments: Bitcoin has evolved from being merely "digital gold" to part of the global financial infrastructure.

ETF Market Dynamics: On November 1, the U.S. spot Bitcoin ETF saw a net inflow of 1,115 BTC, while the spot Ethereum ETF had a net inflow of 19,064 ETH.

Whale Movements: Lookonchain detected that a large holder panic-sold 2,019 BTC, worth approximately $141.5 million.

New ETF Application: 21Shares has submitted an application for an XRP ETF to the SEC.

Bitwise CIO Perspective: Polymarket has achieved the globalization and liquidity of prediction markets through blockchain technology.

JPMorgan Analysis: Maintains Coinbase's target price at $196, recognizing its future development strategy.

Grayscale Latest Update: Grayscale's XRP Trust is now open to accredited investors.