Macro Trends

Gate Research Daily Report: On July 23, BTC consolidated at high levels, ETH continued its gradual uptrend with moderate momentum, and altcoins maintained structural rotation. 21Shares filed for an ONDO ETF, marking further progress in RWA compliance; Polygon’s stablecoin supply reached a three-year high, signaling steady capital inflows; and Sui ecosystem’s MPC coordination project Ika announced its mainnet launch on July 29. Gate Launchpool introduced the Solana ecosystem project NeonNeko, supporting GT/NEKO staking for airdrop rewards.

Gate Research Weekly Report: This week, Bitcoin (BTC) recorded a modest gain of 0.72%, facing resistance and consolidating at higher levels, while Ethereum (ETH) surged by 9.48%, significantly outperforming major altcoins. Bitcoin's annual transaction volume surpassed Visa for the first time, reaching $20 trillion. Ethereum's total lending volume broke through $300 billion, hitting a historical high. REX launched a Solana (SOL) staking ETF, with its assets under management exceeding $100 million within three weeks. The Bitcoin Layer 2 project Merlin initiated its 2.0 upgrade, aiming to create a "yield-generating, tradable" BTC. Crypto mining firm MARA plans to issue $850 million in convertible bonds to increase its BTC holdings. Goldman Sachs and BNY Mellon jointly introduced a tokenized money market fund solution on blockchain.

This report systematically reviews the current status and regulatory developments of the global stablecoin market, focusing on legislative trends in major economies such as the United States and Hong Kong since 2025. Currently, the global stablecoin market capitalization exceeds USD 260 billion, with over 170 million users worldwide, spreading across more than 80 countries and regions, making stablecoins an essential part of the digital financial infrastructure. In 2025, the United States passed the Genius Act and Clarity Act, while Hong Kong issued the Stablecoin Ordinance, marking the official entry of global stablecoins into a strongly regulated era.

Gate Research Daily Report: On July 25, BTC is currently testing the support level at 117,194.2 USDT; ETH is fluctuating between 3,673.33 USDT and 3,690.60 USDT. The WOO X platform was attacked, resulting in an estimated loss of $14 million, and the platform has promised full compensation to affected users. Resolv has activated its protocol fee mechanism, with a portion of profits being returned to RESOLV stakers. Anchorage Digital has partnered with Ethena Labs to launch the first GENIUS-compliant stablecoin, USDtb.

Gate Research Daily Report: On July 18, BTC traded in a narrow range while ETH broke out to a new local high, leading the major assets. The U.S. House of Representatives passed three key crypto bills, including the GENIUS Act, advancing the formation of a comprehensive crypto regulatory framework. Meanwhile, CANARY filed for a Staked INJ ETF, and Russia’s Sberbank announced plans to offer crypto custody services. Gate Launchpool introduced the L2 project Eclipse, enabling BTC/ETH/ES staking for airdrop rewards.

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 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.

February 2025 was a dynamic month for blockchain and crypto, with significant events shaping the industry. Key projects like Ethereum, Metamask, SMID-96, Stackstone, and Hyperliquid saw major developments, including platform launches, service expansions, token issuances, feature rollouts, mainnet activations, fee voting, and mining activities. These advancements highlight ongoing innovation, foster technological and community growth, and provide fresh momentum for the industry’s expansion.

Gate Research: In February 2025, a series of significant events unfolded—from the U.S. government announcing new tariffs on Mexico and Canada, to an Oklahoma legislator proposing the Bitcoin Freedom Bill, and 10 companies receiving approval to issue stablecoins under the MiCA regulatory framework in the EU. These developments reflect signs of economic recovery, shifts in the regulatory landscape, and the impact of policy uncertainty on the market, providing crucial insights into the current economic climate and future trends.

This week, BTC briefly rebounded to $95,000 before retesting the $81,500 support level, while ETH remained in a triangular consolidation pattern. Ripple established the National Cryptocurrency Association in the U.S., Aave introduced a token buyback program and activated its fee switch to optimize its economic model, and Pendle launched a Community Listing mechanism to enable a permissionless yield market. Berachain led capital inflows, securing the top position this week, while Pump.fun's February trading volume dropped 63% month-over-month. In the NFT market, Paradise topped the rankings with a seven-day trading volume exceeding 28,000 SOL.

Gate Research(Feb 28 - Mar 6, 2025), this report provides a comprehensive analysis of key developments in the cryptocurrency market and the broader macroeconomy. On February 28, the U.S. core PCE price index for January rose by 2.6% year-on-year, generally in line with expectations. On March 3, Trump announced an initiative to establish a U.S. crypto reserve, incorporating BTC, ETH, SOL, XRP, and ADA as core assets. On March 5, USDC became the first USD stablecoin approved for use in Japan. The White House supported repealing the crypto broker rule, potentially signaling a turning point for DeFi regulation. U.S. February ADP employment numbers unexpectedly fell to 0.077 million, falling short of expectations.

This report summarizes the on-chain data situation for Web3 in February 2025. The cryptocurrency market experienced a pullback after reaching new highs, with some holders in a loss-making position. However, despite the market correction, ecosystem development continues to progress steadily. On February 6, the Berachain mainnet was officially launched. With its Proof of Liquidity (PoL) mechanism and three-token model, it quickly became a market focal point. As the Berachain ecosystem rapidly expands, the value of the $BERA token is reflected in trading activity. It is gradually becoming the core asset of ecosystem liquidity, driving on-chain applications and user growth.

This article explores the relationship between AI technological breakthroughs and cryptocurrency development. Beginning with China's DeepSeek model success, it analyzes the impact on Nvidia and AI-framework crypto projects while considering blockchain technology's position within the AI ecosystem. The article examines the receding Meme coin trend, highlighting the current imbalance in crypto market valuations where rapid altcoin proliferation has diluted value. The author argues that the crypto industry needs innovation and repositioning to forge its unique development path in an AI-dominated future.