Gate Research Institute Weekly Report: This week, BTC continued its high-level consolidation, failing to break through the $111,000 resistance multiple times; ETH remained relatively resilient but failed to achieve a trend-breaking move; the SEC delayed the approval decision for the SUI ETF application, while Falcon Finance’s stablecoin supply exceeded $500 million; Circle successfully went public with a valuation of $6.9 billion; Treasure Global launched a $100 million digital asset reserve plan.

• Market Commentary: BTC continued its high-level consolidation, failing to break through the $111,000 resistance multiple times, showing clear signs of range-bound trading at high levels. ETH remained relatively resilient, attempting to break through $2,700 multiple times but facing pressure and pulling back each time. The ETH/BTC exchange rate fluctuated slightly, hovering around 0.025, with ETH’s market share maintaining at approximately 9.4%.
• This Week in Focus: The SEC delayed the approval decision for the Canary SUI spot ETF application, indicating a complex approval process; the Ethereum Foundation announced its financial policy, planning to reduce operational expenses to a 5% long-term benchmark over five years; Circle priced its IPO at $31 per share, achieving a valuation of $6.9 billion.
• Key Data Highlights: Falcon Finance’s stablecoin supply surpassed $500 million, with its synthetic USD (USDf) total supply exceeding $529 million; publicly-listed company Treasure Global launched a $100 million digital asset reserve plan; Pump.fun, despite over 60% of its users suffering losses, is planning to raise $1 billion to reach a unicorn valuation.
• Market Opportunities: This week, keep an eye on the new project on Gate Launchpool, Sophon Network. Sophon Network is a high-performance Layer 2 blockchain platform built on ZK Stack technology, focusing on creating an efficient and user-friendly ecosystem for entertainment applications. Its native token SOPH has multiple functions, including facilitating transactions, decentralization, security, and ecosystem development.
• Next Week to Watch: Next week, the market will see significant token unlocks involving APT, STRK, and IMX. APT will unlock tokens worth approximately $56 million over the next 7 days; STRK will unlock tokens worth around $17 million; IMX will unlock tokens worth about $13.52 million.

Explore this week’s details → Gate Research : US SEC Delays SUI ETF Application Decision｜Falcon Stablecoin Supply Surpasses $500 Million

Gate Research is a comprehensive blockchain and cryptocurrency research platform, providing readers with in-depth content including technical analysis, market insights, market reviews, industry research, trend predictions, and macroeconomic policy analysis.

Disclaimer
Investing in cryptocurrency markets involves significant risks. Users are strongly advised to conduct independent research and fully understand the nature of assets and products before making any investment decisions. Gate shall not be liable for any losses or damages arising from such investment decisions.

Gate Team
Jun 5th, 2025

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