Crypto Daily Nov 2, 2026: ESPORTS Jumps 97%, BTC Holds $78,420
BTC rose 1.19% to $78,420 while ESPORTSUSDT surged 97.43%, and POWRUSDT funding plunged to -0.9014% per 8 hours.
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Bitcoin traded at $78,420.6 as of 07:05 WIB on Monday, November 2, 2026, up 1.19% over 24 hours on $4,339 million in Binance futures volume. Ethereum gained 1.09% to $2,279.6, while Solana slipped 0.71% to $94.77. The data comes from Binance's public USDT-M Futures API, compiled by OpenTrades.
Beyond the top four, altcoins moved far more violently. ESPORTSUSDT rocketed 97.43% in a day on $747 million in volume, the largest daily gainer among coins with at least $50 million in volume. On the other end, UAIUSDT crashed 46.73% on $59 million in volume, the day's worst performer.
Bitcoin and Ethereum: modest gains, solid volume
BNB climbed 1.41% to $713.83 on $342 million in volume, the best performance among the five major coins tracked here. XRP was nearly flat, up just 0.14% to $1.2526 on $276 million in volume, the smallest volume in the group.
BTC's $4,339 million in volume dwarfed ETH's $2,961 million, confirming Bitcoin remains the most liquid instrument for futures traders today. But ETH's percentage gain, 1.09% versus BTC's 1.19%, shows the two assets are still moving in tandem rather than independently.
ESPORTSUSDT steals the show, IDOL and AIN follow
ESPORTSUSDT topped the day's gainers with a 97.43% surge on $747 million in volume, larger than BNB and XRP's combined daily volume of $618 million. IDOLUSDT followed with a 40.26% gain ($187 million volume), then AINUSDT rose 23.51% ($285 million volume). The token ticker 牛来USDT gained 15.13% ($87 million volume), and FLOCKUSDT rounded out the list with an 11.11% gain ($60 million volume).
A move this large in a single coin, especially with hundreds of millions in volume, is typically driven by a combination of extreme positive funding and a short squeeze, when short sellers are forced to close positions as prices keep climbing, which pushes prices even higher.
The day's worst losers: UAI, AKE, and LSK
UAIUSDT posted the steepest drop, plunging 46.73% on relatively modest volume of $59 million. AKEUSDT fell 20.71% ($93 million volume), LSKUSDT dropped 16.72% ($116 million volume), EVAAUSDT declined 12.98% ($122 million volume), and XPLUSDT rounded out the list down 12.43% ($143 million volume).
The pattern among the losers mirrors the gainers, volume that's modest compared to BTC or ETH, but price swings far sharper than a single day would suggest for major assets. This is typical of small to mid-cap coins in the futures market, where percentage moves run far wilder than for Bitcoin or Ethereum.
Funding rates: who's paying whom
Funding rate is a periodic payment exchanged between long and short futures traders every 8 hours, designed to keep futures prices anchored close to spot prices. Positive funding means longs pay shorts, typically happening when the market is crowded with long positions. Negative funding works the other way.
Today AINUSDT carries the most positive funding rate at 0.0893% per 8 hours, followed by ESPORTSUSDT at 0.0888% and IDOLUSDT at 0.0430%. All three also rank among today's biggest gainers, so it makes sense that most traders in these coins are holding long positions and willing to pay funding to keep them open.
On the flip side, POWRUSDT posted the most negative funding rate at -0.9014% per 8 hours, far more extreme than AKEUSDT's -0.3291% and LSKUSDT's -0.2362%. Funding that steep signals an overwhelming dominance of short positions in POWRUSDT, even though the coin didn't make today's list of biggest price losers, suggesting short pressure may be easing or those positions were opened only recently.
Open interest and long/short ratios for BTC and ETH
BTCUSDT open interest stood at $7.46 billion, down 0.6% over the past 7 days. Open interest represents the total value of futures contracts still open, and a decline means some traders closed out or got liquidated over the past week even as BTC's price rose.
The long-to-short account ratio for BTCUSDT sits at 2.30, meaning 70% of all trader accounts hold long positions. A similar pattern shows up in ETHUSDT, where open interest reached $5.37 billion, up a slight 0.2% over 7 days, with 72% of accounts long and a ratio of 2.56, even more skewed toward longs than BTC.
The long-heavy positioning in both major assets, combined with BTC's shrinking open interest, can be read two ways. Smaller retail traders may be piling into longs while larger players trim exposure, or some older long positions may have been closed out for profit after last week's price gains.
Taker buy/sell: who was more aggressive yesterday
The taker buy/sell ratio measures who's initiating trades rather than just placing resting orders. A ratio above 1 means aggressive buy volume outweighs aggressive sell volume.
Yesterday, BTCUSDT's taker buy/sell ratio came in at 1.05, showing buyers were slightly more aggressive than sellers, consistent with BTC's 1.19% price gain over 24 hours. ETHUSDT showed the opposite, at 0.98, meaning sellers were slightly more aggressive even though ETH's price still ended up 1.09%. That combination suggests ETH's rally was driven more by existing positions, including short covering, than by fresh aggressive buying.
What it means for traders
The extreme funding rates in AIN, ESPORTS, and IDOL are worth watching, since crowded long positions in high-volatility coins are vulnerable to sharp corrections if sentiment flips. POWRUSDT's -0.9014% funding rate could also set up a short squeeze if its price starts climbing.
For BTC and ETH, the mix of dominant long positioning (70% and 72% of accounts) alongside diverging taker buy/sell ratios (1.05 versus 0.98) sends a mixed signal. Traders can watch whether BTC's 7-day open interest decline of 0.6% continues, since that could point to capital leaving futures positions even as price holds above $78,000.
Levels worth tracking: whether BTC can hold above $78,000 on consistent volume, and whether ETH can sustain its uptrend despite yesterday's slightly dominant taker selling. For altcoins like ESPORTSUSDT, up nearly 100% in a single day, the risk of a sharp pullback is considerably higher than for BTC or ETH, given the much larger historical volatility in that category.
What is a funding rate and why does it matter?
Funding rate shows which side, long or short, dominates the futures market. Extreme positive readings like AIN and ESPORTS signal crowded long positions that are vulnerable to a correction if market direction reverses.
Why would BTC open interest fall while price rises?
It can mean some traders are closing positions to lock in profits or getting liquidated, even as the broader price trend stays positive over 24 hours.
What's the difference between BTC and ETH's taker buy/sell ratios today?
BTC's ratio of 1.05 shows buyers were more dominant, while ETH's 0.98 shows sellers were slightly more aggressive even though ETH's price still closed higher.
Sources
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