Research

Gate Research Daily Report: On December 12, BTC showed a clear short-term strengthening trend. ETH moved higher and then pulled back over the past 24 hours, forming a high-level consolidation pattern, while GT remained in a consolidation and recovery phase. LIGHT drew market attention with a sharp gain of +79.47%. Meanwhile, JPMorgan launched the USCP token on Solana to facilitate a landmark on-chain debt issuance for Galaxy; Blockstream announced plans to acquire TradFi hedge fund Corbiere Capital to expand its institutional investment strategy; and El Salvador partnered with Elon Musk’s xAI to roll out the Grok AI education program nationwide.

Gate Research: In November 2025, high-performance blockchains continued to dominate on-chain activity, with ecosystem stratification becoming increasingly evident. Solana maintained its lead in both transaction volume and active addresses through high-frequency interactions. Although Arbitrum remained in a low-activity range on the usage side, sustained net inflows driven by asset tokenization and institutional infrastructure expansion positioned it as a key focus of market capital. After breaking below short-term cost bases, BTC entered a repricing phase, with short-term turnover increasing while long-term holdings remained stable, shifting the market structure from strong-side consolidation to a pressure-driven equilibrium. The broadening BTCFi narrative also fueled a strong upswing in Starknet, drawing notable capital and user inflows. At the project level, Monad’s mainnet launch ignited the high-performance L1 narrative, rapidly expanding on-chain activity and application deployment, while Telcoin saw a s

Gate Research Weekly Report: BTC remained in a weak consolidation over the past day, repeatedly encountering resistance near 92,000 USDT, while ETH pulled back to the MA10 after a sharp upswing, showing signs of short-term momentum cooling. Market sentiment improved marginally, with capital rotating into the Ethereum ecosystem. Sectors such as Prediction Markets, GambleFi, ZK, and LRT recorded weekly gains of 18%–35%. Stablecoin market capitalization continued to rise, and gas fees remained at ultra-low levels. NIGHT, BEAT, and LUNA posted strong rebounds of 40%–60%, driven respectively by new listings, partnership catalysts, and technical bottom-recoveries. Major banks have begun offering Bitcoin-backed lending, while institutional BTC holdings have surpassed 1.08 million. Tempo’s testnet launch strengthened the narrative around on-chain payments, and expectations surrounding a potential SpaceX IPO as well as Stripe’s acquisition of Valora further boosted market attention. In the coming seven days, CONX, APT

This week, the crypto market remained in a volatile range amid macroeconomic disturbances, recent consecutive rate cuts by the FED have boosted short-term market sentiment, but investors’ concerns over structural issues such as long-term inflation, fiscal deficits, and the independence of monetary policy have not subsided. Additionally, the Bank of Japan’s rate hike this month is widely anticipated. Yesterday, Bitcoin spiked to a high before dropping over 2.2%, while Ethereum also surged then retraced, ending the day up 1.2%.

Gate Research: The market as a whole shows a pullback pattern, with sentiment remaining cautious. BTC has stayed weak over the past day, repeatedly facing resistance around 92,000. ETH retreated back toward the MA10 after an intraday surge, indicating a slowdown in short-term momentum. Capital sentiment has turned slightly more positive at the margin. NIGHT, BEAT, and LUNA posted strong rebounds of 40%–60%, driven respectively by new product launches, partnership developments, and a technical bottom recovery. Institutional acceptance of crypto continues to rise; institutional Bitcoin holdings have increased from roughly 197,000 BTC to 1.08 million BTC, a cumulative gain of about 448%. Meanwhile, the launch of the Tempo testnet has further strengthened the narrative around on-chain payments.

Gate Research: On December 10, the crypto market saw a mild rebound, with BTC and ETH maintaining a strong short-term structure. Among notable movers, PIPPIN (+66%) surged on strengthened AI-driven narratives and speculative flows; WET (+37%) gained significant attention following its TGE launch and broader traction within the Solana ecosystem; and PENGU (+10%) remained strong amid positive momentum from Pudgy Party surpassing one million downloads and the release of AI-enabled Pudgy toys. On the industry front, Polygon completed its Madhugiri upgrade, delivering a meaningful boost to network throughput and enterprise-grade infrastructure capabilities. FLock.io, Deluthium, and Aerodrome jointly advanced the rollout of the on-chain insurance platform CARiFIN. Meanwhile, BTC supply on exchanges has declined by more than 400,000 BTC over the past year, easing spot selling pressure and reinforcing a more supportive medium-term market structure.

Gate Research Daily Report: On December 10, the crypto market saw a mild rebound, with BTC and ETH maintaining a strong short-term structure. Among notable movers, PIPPIN (+66%) surged on strengthened AI-driven narratives and speculative flows; WET (+37%) gained significant attention following its TGE launch and broader traction within the Solana ecosystem; and PENGU (+10%) remained strong amid positive momentum from Pudgy Party surpassing one million downloads and the release of AI-enabled Pudgy toys. On the industry front, Polygon completed its Madhugiri upgrade, delivering a meaningful boost to network throughput and enterprise-grade infrastructure capabilities. FLock.io, Deluthium, and Aerodrome jointly advanced the rollout of the on-chain insurance platform CARiFIN. Meanwhile, BTC supply on exchanges has declined by more than 400,000 BTC over the past year, easing spot selling pressure and reinforcing a more supportive medium-term market structure.

November saw Bitcoin decline by 17.54%, marking the largest monthly drop of the year. Bitcoin ETFs experienced the second-largest single-month outflow since their launch in 2024. In November, Gate’s quantitative fund recorded a 1.9% return for the USDT strategy; the top 30% portfolio achieved an annualized return of 4.1%, outperforming Bitcoin. The “Arbitrage Pioneer – USDT” strategy stood out with a monthly annualized return of 5.5%, demonstrating robust defensive characteristics. Overall fund drawdowns remained low, with the USDT strategy experiencing a maximum drawdown of just 0.02%. Looking ahead to December, expectations for interest rate cuts, next year’s rate trajectory, potential rate hikes by the Bank of Japan, and speculation over a Fed leadership change are likely to drive short-term crypto volatility.

This report provides a summary of Web3 on-chain activity in April 2025. Solana maintained an average of over 93 million daily transactions, reaching a cumulative total of 2.4 billion by April 26, continuing to lead all blockchains in usage. Among capital flow data across major chains, Ethereum recorded a net inflow of over $904 million, ranking first across the network. On the Bitcoin network, wallet addresses holding more than 10,000 BTC showed cumulative scores between 0.9 and 1, indicating near-complete net accumulation. Additionally, Bitcoin’s UTXO net growth remained positive, reflecting a gradual recovery in network activity. As of April 28, Raydium’s LaunchLab had created 25,207 tokens, with a graduation rate of approximately 0.84%. Meanwhile, the meme token $TRUMP triggered a wave of market enthusiasm, surging over 50% in price following the announcement of an exclusive golf dinner and White House tour event, leading to a notable increase in both token holders and on-chain activity.

BTC has been range-bound between 89,000 and 93,000 USD, with short-term price action still in a mild recovery phase. ETH shows comparatively stronger resilience, though technical indicators suggest that overhead selling pressure has yet to fully subside. 2Z surged over 31.63% last week, emerging as the standout performer. Polygon PoS led the L1 inflows, supported by strong stablecoin payment activity and rapid growth in the Polymarket prediction ecosystem, with both scale and transaction volume hitting new highs. In contrast, Monad saw momentum fade quickly after its mainnet launch, with noticeable slowdowns in trading activity and user engagement. The ecosystem still lacks native applications with enough depth to support sustained activity, making it difficult to attract incremental capital in the near term.

Gate Research: On December 8, the crypto market remained in a low-volatility recovery phase. BTC traded sideways between $90,000 and $91,700 after a sharp V-shaped rebound, while ETH entered a similar consolidation phase, with short-term moving averages forming a minor death cross, indicating continued dependence on BTC’s trend. Exchange token GThovered within the $10.1–$10.3 range, with three moving averages closely aligned — a sign that the market is in a balance phase before a directional move.

Gate Research: On December 8, over the past 24 hours, the crypto market remained in a consolidation phase. BTC entered sideways trading after a sharp V-shaped rebound, with short-term moving averages forming a minor death cross, signaling that the price has entered a correction stage. ETH moved in tandem with BTC, showing a high degree of correlation. Altcoins showed clear divergence — large-cap tokens rose modestly with the broader market, while mid- and small-cap projects became selectively active on narrative and news-driven catalysts. The Fear & Greed Index stood at 20, reflecting continued cautious sentiment. On the macro front, U.S. stocks edged higher, and gold prices traded in a narrow range. In market highlights, Strategy admitted for the first time that it may sell BTC under extreme conditions, drawing widespread attention; Base’s launch of the SOL-Base Bridge sparked controversy within the Solana community; and the Monad mainnet’s on-chain activity fell short of expectations, with DEX trading volum

Gate Research Daily Report: On December 5, BTC turned weaker over the past 24 hours after a period of high-level turbulence; ETH stabilized following a sharp pullback; GT found support near 9.50; and SN surged over 90%, drawing market attention. Canton Network’s developer gained strategic investment from Wall Street giants, pushing on-chain assets past $6 trillion. XRP spot ETFs saw 13 straight days of inflows, nearing the $1 billion mark, while JPMorgan said bitcoin’s near-term direction depends largely on whether Strategy (MSTR) can maintain its value-to-bitcoin-holdings ratio above 1.

Gate Research Daily Report: On December 5, BTC turned weaker over the past 24 hours after a period of high-level turbulence; ETH stabilized following a sharp pullback; GT found support near 9.50; and SN surged over 90%, drawing market attention. Canton Network’s developer gained strategic investment from Wall Street giants, pushing on-chain assets past $6 trillion. XRP spot ETFs saw 13 straight days of inflows, nearing the $1 billion mark, while JPMorgan said bitcoin’s near-term direction depends largely on whether Strategy (MSTR) can maintain its value-to-bitcoin-holdings ratio above 1.

This report outlines the landscape and trends of the tokenized stocks sector. The market capitalization of tokenized stocks has surpassed $500 million, growing over 50-fold within the year, with daily transfer volumes reaching $40–60 million. It is poised to become the next high-growth area in the RWA space, following government bonds. However, compared to the global stock market’s total value of $147.6 trillion and the $19.25 trillion in ETF assets, the current penetration rate is only about 0.0004% for stocks and 0.003% for ETFs, indicating substantial room for growth.