Crypto Market Overview

• BTC (+0.74% | Current Price: 117,430 USDT): BTC has been consolidating around $117,400 in recent days, repeatedly failing to break above $117,900, showing clear resistance. Short-term MAs are converging, with MA30 (117,133 USDT) providing support. The structure leans toward bullish consolidation. A breakout above $117,900 could open further upside, while a drop below $117,100 may trigger a short-term pullback. Trading strategy: sell near highs and buy near lows, focusing on key support and resistance levels.
• ETH (+0.18% | Current Price: 4,610 USDT): ETH pulled back after facing resistance at $4,767 and is now consolidating near $4,600, with MA30 (4,590 USDT) acting as support. Volume remains low, reflecting cautious sentiment. A breakout above $4,650–$4,700 could pave the way for retesting the $4,767 high; a drop below $4,590 may lead to a pullback toward $4,500. Strategy: follow the trend and monitor support protection.
• Altcoins: Most major altcoins posted modest gains today, with the market leaning “neutral to slightly bullish” amid cautious optimism. With Bitcoin dominance slightly declining, some capital is rotating into Ethereum, Solana, and other utility-backed altcoins. The Crypto Fear & Greed Index stands at 52, a neutral zone, indicating neither panic nor excessive greed in the market.
• Macro: On Sept. 18, the S&P 500 rose 0.48% to 6,631.96, the Dow Jones gained 0.27% to 46,142.42, and the Nasdaq climbed 0.94% to 22,470.73. As of Sept. 19, 10:30 AM (UTC+8), spot gold trades at $3,655.10/oz, down 0.93% in the past 24 hours.

Trending Tokens

RUNWAGO Runwago (+853.4%, Circulating Market Cap: $13M)

According to Gate market data, RUNWAGO is priced at 0.847 USDT, up 853.3% in 24h. Runwago is a SportsFi project combining Move-to-Earn and gamification, where users earn tokens through exercise.Its app is available for mobile download, with user acquisition and events boosting popularity. Early pre-sale activity and current market interest in SportsFi attracted regional funds, pushing RWG prices higher.

DUCK DuckChain (+115.0%, Circulating Market Cap: $57M)

Gate data shows DUCK trades at 0.01029 USDT, up 115.0% in 24h. DuckChain is a TON-based Layer2 project, EVM-compatible, aiming to link Ethereum, Bitcoin, and Telegram ecosystems while lowering Web3 entry barriers. The surge is driven by sentiment and concentrated funds, with community events, AI tool integration, and partnerships increasing exposure. Its “TON + EVM + AI/Telegram integration” narrative is rare in the market, fueling strong demand.

APX ApolloX (+23.6%, Circulating Market Cap: $280M)

Gate data shows APX at 0.6084 USDT, up 23.6% in 24h. ApolloX is a decentralized derivatives exchange offering perpetual contracts and spot trading, focused on transparency and low fees.The rise is supported by expectations of contract migration and brand reshaping, while airdrops and social media exposure further boosted activity, driving short-term strength in APX.

Alpha Insights

Consensys Founder Hints at Accelerated MetaMask Token Launch

Joseph Lubin, founder of Consensys, said on The Crypto Beat podcast that “a MetaMask token is coming, and it may arrive sooner than you expect.” As the world’s most widely used Web3 wallet, news of a potential token launch immediately sparked market attention.

The idea of a MetaMask token has long been anticipated. Lubin’s statement reinforced expectations that distribution will likely combine “user airdrops + ecosystem incentives” to cover its large user base. In the short term, related news may boost market sentiment, while the bigger focus will be how MetaMask balances governance, incentives, and Sybil resistance within its tokenomics, as well as potential applications in L2 scaling and cross-chain interoperability.

NBA Star Tristan Thompson Launches Player Tokenization Platform

NBA champion Tristan Thompson is partnering with the Somnia blockchain team to launch basketball.fun, a platform exploring the tokenization of player value. Unlike traditional fan tokens, player value here will fluctuate dynamically based on fan engagement and game performance, functioning like an on-chain prediction market.

At launch, the platform will not issue an independent token but will run on an in-app value system. If successful, this could open new Web3 interaction models for the sports industry, shifting fans from passive spectatorship to active participation. Compared with single-token models, it emphasizes data and sentiment feedback, potentially more sustainable in the long run. Its commercial potential, however, depends on deeper integration with the NBA ecosystem and fan base.

Plasma Confirms Sept. 25 TGE, Adds New Competitor to Stablecoin Ecosystem

Plasma, a Tether-backed stablecoin blockchain, will hold its Token Generation Event (TGE) on Sept. 25, alongside the launch of its mainnet beta. The project expects $2 billion in stablecoin inflows on day one and has partnered with over 100 DeFi protocols, including Aave, Ethena, Fluid, and Euler.

Native token XPL will serve as Plasma’s governance and incentive asset. Beyond the 10% supply sold in a prior community sale, the launch will distribute 25 million XPL to small users completing Sonar (Echo) verification and participating in sales, ensuring more decentralized distribution. Additionally, 2.5 million XPL are reserved for members and contributors of the Stablecoin Collective:

• OG members: 30,000 XPL
• Contributors: 15,000 XPL
• Early members: 7,500 XPL

With Tether’s funding and network effects, Plasma enjoys a strong starting advantage, appealing to early-stage DeFi projects. Its allocation model emphasizes rewarding small participants and community members, aiming to avoid capital concentration. In a competitive stablecoin blockchain landscape, Plasma combines Tether’s backing with a community-driven approach, giving it short-term momentum. Long-term success, however, will depend on whether it can differentiate in areas such as cross-chain payments and native stable asset support in DeFi.

Gate Launchpool

New Token Sale Details

• Subscription Project: OpenVPP
• Token Name: OVPP
• Subscription Period: Until 10:00 (UTC) on September 23, 2025
• Participation Method: Stake ETH to claim for free
• Total Airdrop Supply: 361,445 OVPP

Project Introduction

OpenVPP is a decentralized payment and tokenization platform focused on the $10 trillion global utilities sector, aiming to build an “Energy Internet.” Its infrastructure is designed to modernize energy payments, providing programmable stablecoin solutions for smart devices and virtual power plants.

OpenVPP directly integrates Distributed Energy Resources (DER) and advanced metering technologies, enabling faster, more secure, and more automated transactions for utilities and users, aligning with the next-generation energy ecosystem. Its on-chain capabilities support compliant and efficient micropayments and coordination for global energy networks, with the goal of unlocking liquidity and accessibility for both traditional operators and Web3 applications.


References

• Gate, https://www.gate.com/trade/BTC_USDT
• Gate, https://www.gate.com/trade/ETH_USDT
• Gate, https://www.gate.com/trade/GT_USDT
• Gate, https://www.gate.com/price
• CoinGecko, https://www.coingecko.com/en/cryptocurrency-heatmap
• Gate, https://www.gate.com/launchpool/387?detail_button=1
• X, https://x.com/TheBlock__/status/1968802233094480193
• X, https://x.com/PlasmaFDN/status/1968661293432197153
• CoinDesk, https://www.coindesk.com/business/2025/09/18/tristan-thompson-taps-somnia-to-bring-basketball-fandom-on-chain
• Gate, https://www.gate.com/announcements/article/47054

Gate Research is a comprehensive blockchain and cryptocurrency research platform that provides deep content for readers, including technical analysis, market insights, industry research, trend forecasting, and macroeconomic policy analysis.

Disclaimer
Investing in cryptocurrency markets involves high risk. Users are advised to conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such decisions.