Gate Research Institute: PayPal launches Crypto Assets payment feature | CryptoPunks volume reaches a nearly 1-year high

Crypto Market Overview

• BTC (-0.91% | Current Price 118,305 USDT): BTC has seen a slight price drop of 0.91% in the past 24 hours, falling from around 119,399.80 USD to 118,321.00 USD, with trading volume remaining active. Technical analysis shows that BTC price is oscillating near the 50-day moving average, with RSI close to 60, indicating that market momentum is neutral but slightly bullish, while MACD shows a slight bearish signal, reflecting short-term pullback pressure. On July 28, BTC ETF inflows totaled 157 million USD, with IBIT inflowing 147 million USD and FBTC inflowing 30.9 million USD.
• ETH (-2.47% | Current Price 3,781 USDT): The price of ETH has dropped approximately 2.47% in the past 24 hours, from $3,875 to $3,779. Technical analysis shows that the current price is above the 10-day SMA, and the 14-day RSI is about 79.8, indicating that the market is still in an overbought state. On July 28, ETH ETF inflows were $65.2 million, with BlackRock's ETHA inflowing $132 million and Fidelity's FETH outflowing $49.2 million.
• Altcoins: In the past 24 hours, altcoins have shown a downward trend. The Fear and Greed Index today is reported at 73, indicating that market sentiment remains optimistic.
• Macro: On July 28, the S&P 500 index rose by 0.02%, closing at 6,389.77 points; the Dow Jones index fell by 0.14%, closing at 44,837.56 points; the Nasdaq index rose by 0.33%, closing at 21,178.58 points. As of July 29, 11:00 (UTC+8), the spot gold price is temporarily reported at 3,318 USD per ounce, with a 24-hour increase of 0.12%.

Trending Tokens on Juejin

SQD Subsquid (+53.21%, circulating market value 159 million USD)

According to Gate.io market data, the current price of SQD token is 0.224 dollars, with a 24-hour increase of 53.21%.

Subsquid is a decentralized query engine that currently processes historical on-chain data from over 100 EVM and Substrate networks, as well as data from Solana and Starknet, which are in the testing phase. This data includes detailed information such as event logs, transaction receipts, traces, and state differences for each transaction of EVM. It is also developing co-processors and RAG features that utilize its multi-chain indexing capabilities, establishing trustless connections with off-chain data lake resource networks through zero-knowledge proof markets and Trusted Execution Environments (TEE). In September 2023, an incentive testnet was launched on CoinList, with the native token SDQ officially issuing in May 2024, and the data lake certificate launching the mainnet in early June.

The price increase of SQD in the past 24 hours can be mainly attributed to its listing on mainstream exchanges, which has increased its market liquidity and trading activity. The improvement in financing and market sentiment may also play a supportive role. In the future, the price trend of SQD will depend on its adoption level in the developer community, listings on more exchanges, and overall market dynamics.

NMD Nexusmind (+17.27%, circulating market cap 210 million USD)

According to Gate.io market data, the current price of the NMD token is $20.51, with a 24-hour increase of 17.27%.

NexusMind is a revolutionary decentralized social software, dubbed the "Twitter killer." The application is built on the cutting-edge decentralized network Nostr, which provides users with greater control over their social media experience. With NexusMind, users can enjoy a more secure and private social networking experience free from central authority control. Unlike traditional social media platforms, NexusMind allows users to connect with others in a completely decentralized and transparent manner, ensuring that users always have control over their data.

The price increase of NMD in the past 24 hours is mainly attributed to its listing on certain crypto exchanges, which has increased its market liquidity and trading activity. In the future, the price trend of NMD will depend on its adoption within the developer community, listings on more exchanges, and overall market dynamics.

KTA Keeta (+8.56%, circulating market value 49.65 million USD)

According to Gate.io market data, the current price of the KTA token is $1.22, with an increase of 8.56% in the last 24 hours.

Keeta Network is a high-performance Layer-1 blockchain dedicated to providing secure, efficient, and highly interoperable solutions for global payments and asset transfers, with a vision to become the "common foundation for all asset transfers." It not only supports cross-chain transactions but also emphasizes seamless integration with traditional financial systems. The original intention of Keeta's design is to address the pain points of traditional payment systems, such as high transaction fees, slow settlement speeds, and lack of compliance support, aiming to achieve rapid transaction settlements and asset tokenization through its technological architecture.

The price increase of KTA in the past 24 hours is mainly attributed to technological breakthroughs, on-chain accumulation, and bullish sentiment within the community. In the future, the price trend of KTA will depend on its level of adoption within the developer community and the overall trend of the crypto market.

Alpha Interpretation

PayPal launches encryption currency payment feature, supporting transactions with wallets like MetaMask.

Payment giant PayPal has announced the launch of the "Pay with Crypto" feature, which provides services to merchants by enabling instant conversion of cryptocurrencies to stablecoins or fiat currencies. This feature supports transactions from various Web3 wallets, including MetaMask, and reaches over 650 million crypto market users worldwide. It is reported that the transaction fee rate for Pay with Crypto is only 0.99%, which can reduce transaction costs by up to 90% compared to international credit card processing.

The "Pay with Crypto" feature launched by PayPal marks a significant breakthrough in the digital payment space, providing users and merchants with a more convenient payment experience by integrating encryption into everyday transactions. This feature reduces the complexity of using digital assets through an instant exchange mechanism, enabling more people to easily participate in the crypto market. Its low transaction costs have clear advantages over traditional payment methods, which is expected to attract more merchants to accept encryption payments, thus promoting the adoption of digital currencies in the market. Looking ahead, this innovation may inject new vitality into the development of decentralized finance, facilitating the emergence of more technologies and services related to digital currencies, and further changing the global payment landscape.

FIS collaborates with Circle to support financial institutions in accessing USDC stablecoin payment functionality.

The fintech giant FIS announced a collaboration with stablecoin issuer Circle to provide USDC stablecoin payment capabilities for U.S. financial institutions through FIS's Money Movement Hub. The collaboration includes supporting domestic and cross-border stablecoin payments, integrating real-time payment and anti-fraud systems, helping financial institutions deploy blockchain payment functions more securely and efficiently.

The collaboration between financial technology giant FIS and stablecoin issuer Circle has opened a new chapter for digital currencies in the traditional financial sector. This partnership introduces USDC stablecoin payment capabilities to U.S. financial institutions, providing a more efficient and cost-effective alternative for domestic and cross-border transactions, while incorporating real-time payment and anti-fraud technologies to ensure security and practicality. This initiative not only signifies further implementation of blockchain technology in financial payments but may also encourage more institutions to explore similar models. Looking ahead, such collaborations could accelerate the widespread adoption of stablecoins, foster innovation in financial technology, and even gradually reshape the global payment system, offering users a more convenient and inclusive financial service experience.

CryptoPunks NFT trading volume hits a new high since March 2024

The CryptoPunks NFT series had a trading volume exceeding $24.6 million last week, setting a record high since March 2024, with a 416% increase compared to the previous week. This trading frenzy is believed to be related to GameSquare's acquisition of Punk #5577 through a $5.15 million issuance of preferred stock, which also significantly boosted the floor price and average selling price of CryptoPunks.

Recently, the trading activity of the CryptoPunks NFT series has significantly increased, showing that the market's enthusiasm for this iconic digital asset is once again surging. Behind this wave, a major acquisition by a company has become a key factor driving price and attention. This not only highlights the important position of CryptoPunks in the NFT field but also reflects investors' strong demand for high-quality digital collectibles. Looking ahead, as more companies enter this market, the NFT ecosystem is expected to welcome new development opportunities, which may further consolidate its influence as a digital art and asset trading platform.

Gate Launchpool

IPO details

Subscription Project: Delabs Games

Token Name: DELABS

Deadline: August 10, 2025, 11:00 (UTC+8)

How to participate: Stake ETH, USDT, DELABS to receive for free.

Total Airdrop: 17,000,000 DELABS

Project Introduction

Delabs Games is the most scalable Web3 gaming platform in the world, offering top-tier mid-core games supported by classic IPs. Delabs was founded by the former CEO of Nexon and has selectively launched breakthrough games such as "Rumble Racing Star," "GIGACHADBAT," and "Boxing Star X." The platform has millions of users, with increasing interaction and has generated real revenue. In the future, with the upcoming launch of the idle RPG "Ragnarok Libre" based on the legendary IP "Ragnarok," it is bound to experience even greater growth momentum. At the core of this vibrant ecosystem is DELABS - the key to collateral, exclusive content, and precious rewards in the rapidly expanding boutique gaming universe.
Reference materials:

• Gate, https://www.gate.com/trade/BTC_USDT
• Gate, https://www.gate.com/zh/trade/ETH_USDT
• Farside Investors, https://farside.co.uk/btc/
• Farside Investors, https://farside.co.uk/eth/
• Gate, https://www.gate.com/crypto-market-data
• Investing, https://investing.com/indices/usa-indices
• Investing, https://investing.com/currencies/xau-usd
• Newsroom, https://newsroom.paypal-corp.com/2025-07-28-PayPal-Drives-Crypto-Payments-into-the-Mainstream
• Businesswire, https://www.businesswire.com/news/home/20250728320277/en/FIS-Partners-with-Circle-to-Unlock-Stablecoin-Money-Movement-Functionality-for-Financial-Institution-Customers
• The Block, https://www.theblock.co/post/364438/cryptopunks-nfts-see-highest-weekly-trading-volume-since-march-2024
• Gate, https://www.gate.com/zh/announcements/article/46334

Disclaimer Investing in the crypto market involves high risks, and it is advised that users conduct independent research and fully understand the nature of the assets and products purchased before making any investment decisions. Gate does not bear any responsibility for any losses or damages resulting from such investment decisions.