Macro Trends

Gate Research Daily Report: On July 21, BTC entered a phase of high-level pullback and consolidation. ETH remains in a strong upward channel, reaching a local high of around $3,780. Former President Trump signed the GENIUS Act, marking the enactment of the first U.S. federal regulatory framework for stablecoins. Abstract Chain surpassed 100 million on-chain transactions. Ethereum launched the “The Torch” NFT to commemorate its 10th anniversary, with minting open to the public on July 30.

Gate Research Daily Report: On July 22, the cryptocurrency market saw Bitcoin (BTC) exhibit a pattern of high-level volatility, finding support near $116,600 before rebounding, though it repeatedly failed to break through the $118,500 resistance level, indicating weakening upward momentum. Meanwhile, Ethereum (ETH) fluctuated around $3,800, briefly touching this level after breaking through $3,700, but failed to surpass the key resistance of $4,000, showing signs of short-term fatigue. On the corporate front, Nasdaq-listed Bit Origin announced its first purchase of Dogecoin (DOGE), totaling 40,543,745 coins, following its plan to establish an enterprise-level DOGE vault. Ethena Labs revealed a $360 million PIPE deal with StablecoinX, while its foundation launched a $260 million ENA public market buyback plan to bolster ENA reserves. Additionally, Bittensor ecosystem company xTAO announced its listing on Canada’s TSX Venture Exchange on July 23, with the stock code XTAO.U.

In June 2025, the total cryptocurrency market capitalization fluctuated between $3.2 trillion and $3.6 trillion, with geopolitical tensions in the Middle East temporarily weighing on market sentiment. Solana led with nearly 100 million daily transactions, followed by Base with 9.7 million. SEI surged in popularity, driven by price gains and favorable policy momentum—its daily trading volume exceeded $94 million in mid-June, with a short-term price increase of over 50%. Global crypto regulation showed growing divergence, Singapore tightened oversight of offshore services, the U.S. advanced stablecoin legislation, while South Korea and Vietnam adopted a more supportive stance. Overall, the regulatory climate showed signs of warming.

Gate Research Weekly Report: This week, BTC price showed an upward trend this week, reaching a high of $88,757. Hyperliquid faced a manipulation attack, intensifying trust concerns. Wyoming plans to launch its WYST stablecoin in July. Ethereum developers drafted EIP-7917 proposal. Aave lending rates dropped to 4% amid rising market caution. Berachain's TVL exceeded $3.4 billion, with Infrared emerging as a key growth driver. DeFi protocol Abracadabra suffered a $13 million exploit.

Gate Research Daily Report: On March 28, Bitcoin fell by 0.77% to $86,783, while Ethereum dropped by 1.06% to $2,003. Hyperliquid announced it will delist JELLY, with user losses to be covered by the foundation. Sonic Labs is set to launch SonicCS 2.0, aiming to double consensus speed and significantly optimize resource usage. Kazakhstan plans to establish a national crypto bank to bring all crypto trading under full regulatory oversight. In Q1, hacker attacks resulted in $1.64 billion in losses across the crypto market, setting a new quarterly record. Meanwhile, Bitcoin whales accumulated over 129,000 BTC this month, marking the strongest accumulation trend in nearly seven months.

This article explores the core functions of blockchain and its most suitable use cases from a first-principles perspective.

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Gate Research Daily Report: Bitcoin rose by 0.71% to $87,393, while Ethereum dipped slightly by 0.06% to $2,055. The market cap of tokenized U.S. Treasury bonds surpassed $5 billion for the first time. PumpSwap's daily trading volume exceeded $450 million. USDC's market cap reached a record high of $60 billion. Gate Wallet now added support for Berachain. BlackRock launched the iShares Bitcoin ETP in Europe. Asia Web3 Alliance Japan proposed a U.S.-Japan collaboration to advance the tokenized economy and Web3 innovation.

Gate Research (March 21–27, 2025) presents a comprehensive analysis of key developments in the cryptocurrency market and broader macroeconomic landscape. On March 21, the U.S. SEC clarified that PoW mining activities do not constitute securities issuance. On March 24, the IMF officially introduced a crypto asset classification system, listing Bitcoin under the capital account. That same day, the Oklahoma House passed a bill proposing the inclusion of Bitcoin in public fund reserves, while Kentucky signed the "Bitcoin Rights Act" to protect the rights to self-custody and node operation. On March 25, Asia Web3 Alliance Japan proposed a U.S.-Japan partnership to advance tokenization and Web3 innovation. Finally, on March 27, Wyoming announced plans to launch the WYST stablecoin in July, marking the first fiat-backed stablecoin to be issued by a U.S. state.

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This research delves into the current state of hacking attacks and presents a detailed analysis of their multifaceted impact on the crypto market, based on several major cryptocurrency hacking incidents. The analysis examines both direct and indirect effects, including market volatility and changes in investor behavior. The research highlights potential risks that the crypto market faces and explores possible strategies for mitigating these risks in the future.

Bitcoin price fell by 0.11% to $86,535, while Ethereum rose by 1.48% to $2,046. ETH holdings on centralized exchanges dropped to 8.97 million, marking a 9-year low. Berachain officially launched its PoL (Proof of Liquidity) system, aiming to drive decentralized governance through liquidity. The Oklahoma House of Representatives passed a bill proposing to include Bitcoin in public fund reserves. The supply of Ethena's stablecoin USDtb exceeded $1 billion. Nillion Alpha launched its mainnet, pushing forward the development of Web3 privacy computing infrastructure.

Gate Research Daily Report: On March 21, Gate Research reported that Bitcoin fell 1.62% to $84,621, while Ethereum dropped 2.67% to $1,982. Bitcoin's short-term circulating supply plummeted over 50%, with daily exchange inflows down 54% as well. Meanwhile, Ethereum's balance on centralized exchanges has dropped to 8.97 million ETH. In macro news, Tether has emerged as one of the top seven holders of U.S. Treasury bonds, overtaking both Hong Kong and Canada. On the product side, Pump.fun launched its native decentralized exchange, PumpSwap. The U.S. SEC also clarified its stance on Proof-of-Work (PoW) mining, confirming that such activities do not involve the issuance of securities. In the Middle East, the Dubai Land Department has kicked off a real estate tokenization initiative.

Gate Research Daily Report: On March 24, Bitcoin rose 1.97% to $86,806, while Ethereum increased 1.68% to $2,036. Ethereum's daily burn volume dropped to just 53.07 ETH, marking an all-time low. PancakeSwap ranked first among DEXs by weekly trading volume, with a week-over-week increase of over 40%. The TVL in RWA protocols surpassed $10 billion. The International Monetary Fund (IMF) officially defined crypto asset classifications, placing Bitcoin under the capital account category. Meanwhile, Plume token launched on Solana, driving cross-chain liquidity for RWA assets.