**[Gate Ventures: Macro Liquidity Tightening Accelerates Industry Divergence, On-Chain Infrastructure and Institutional Staking Continue to Strengthen]** Odaily Planet Daily reports that according to the latest Gate Ventures Weekly Crypto Market Report (November 10, 2025), global liquidity continues to tighten, while on-chain infrastructure development and institutional staking activities are driving structural growth in the crypto asset market. Gate Ventures noted that the Federal Reserve has announced it will officially end quantitative tightening (QT) in December and may resume quantitative easing (QE) next year. This policy shift will profoundly impact the pricing of risk assets and the development trajectory of on-chain finance. Meanwhile, S&P has partnered with Chainlink and Dinari to launch the first on-chain Digital Markets 50 Index, marking a milestone event for traditional financial benchmarks entering on-chain infrastructure development. Gate Ventures highlighted that Ethereum validator participation continues to rise, with 1.5 million ETH currently queued for activation. This indicates that institutions are accelerating their shift toward native staking and are willing to bear the liquidity costs associated with exit queue delays. This is seen as a long-term signal of Ethereum's further consolidation as the global settlement layer for DeFi and stablecoins. In terms of venture capital, Gate Ventures tracked 18 funding deals this week, totaling $250 million, with infrastructure projects accounting for the largest share. This suggests that institutional capital continues to focus on core Web3 sectors.