Abstract
1. This week, BTC rose by 2.9%, ETH increased by 1.10%, and the average increase for RWA sector tokens exceeded 20%.
2. Gate launches the Ondo section, opening up trading for stock asset tokens.
3. Pump.fun launches the "Project Ascend" initiative, adjusting the creator fee mechanism and application process.
4. Galaxy Digital collaborates with Superstate to tokenize the stock GLXY on Solana.
5. AAVE's TVL increased by over 110% in the past 7 days, reaching a new high.
6. The cumulative net inflow of Ethereum spot ETFs has reached 3.6084 million ETH, equivalent to approximately 2.836 billion USD.
Market Interpretation
Market Commentary
BTC market

encryption asset panorama
BTC (+0.68% | Current Price 111,565 USDT)
BTC is overall maintaining a short-term oscillation structure, with the current price running above the hourly moving average, and the short-term trend remains relatively stable. The MACD indicator shows that the dual lines are in a death cross state, with the histogram continuously decreasing in volume and momentum weakening. If the short-term cannot regain stability above 112,000, attention should be paid to the support test around 111,000 or even 110,000. Conversely, if it breaks through 112,500 with volume, it may open up further upward space.
ETH (+2.11% | Current Price 4,438 USDT)
ETH has recently experienced a dip followed by a rebound, currently in a consolidation phase after the rebound, with the price short-term constrained by resistance around 4,470. The MACD indicator shows the initial emergence of a death cross at a high level, and short-term momentum is showing signs of weakening.

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BTC (-0.21% | Current Price 111,095 USDT)
BTC experienced a significant pullback at the end of August, rebounding after hitting a low of $107,261, and rising to a high of $111,398. The current price is fluctuating around $111,000.
In terms of moving averages, MA5 and MA10 have re-established themselves above MA30, forming a golden cross in the short term, indicating that rebound momentum has somewhat recovered. Trading volume significantly increased during the rebound process on September 2, but then gradually declined, suggesting that the market's willingness to chase higher prices above $111,000 is limited.
At key levels, $107,000–$107,500 remains a temporary support. If this range is broken, it may test previous lows again. The upper resistance is concentrated in the $112,000–$113,000 range.

Crypto Market Overview
BTC (-0.21% | Current Price 111,095 USDT): After bottoming out at 107,261 USD, BTC rebounded to 111,398 USD and is currently fluctuating around 111,000 USD. The short-term moving averages have formed a golden cross, and the rebound momentum has recovered, but the decline in trading volume indicates limited willingness to chase higher prices. Support is at 107,000–107,500 USD, and resistance is at 112,000–113,000 USD. On September 2, the net inflow of BTC ETF in a single day was about 332 million USD, of which Fidelity's FBTC saw an inflow of 132.7 million USD.

Last week's market overview showed that BTC prices continued to decline, while Ether rebounded around 4,250. Pyth Network and Story Protocol rose by 48.58% and 33.63% respectively due to new partnerships and buybacks. On-chain net inflow of funds for Ethereum reached 1.6 billion, with monthly transaction volume exceeding 320 billion, and DEX trading volume hit a new high.

crypto market panorama
BTC (+2.61% | Current Price 110,305 USDT): Over the past 24 hours, the BTC price has generally fluctuated upwards. After dipping to around 107,400 USD yesterday afternoon, it quickly surged, reaching a high of over 109,700 USD. Early this morning, BTC consolidated in the range of 108,500 - 109,200 USD, and in the morning, the bulls regained strength, pushing the price above 110,300 USD. Currently, the key support level is at 108,500 USD; if the upward momentum continues, it is expected to challenge the 110,500 - 111,000 USD range.
ETH (+0.06% | Current price 4,382 USDT): In the past 24 hours, the price of ETH rose and then fell. In the afternoon yesterday, it quickly surged to around 4,480 USDT, and then

crypto market panorama
BTC (-0.83% | Current Price 108,196 USDT): BTC's recent price quickly fell back after being blocked at a high of 113,469 USD, briefly dropping below 108,000 USD, with a low of 107,350 USD. Technically, it is important to focus on the support at 107,000 USD and the resistance at 109,000 USD. If trading volume cannot be maintained, BTC still faces the risk of further declines. On August 29, the net outflow of BTC ETF reached 126 million USD in a single day, with BlackRock's IBIT inflowing 24.6 million USD and Fidelity's FBTC outflowing 66.2 million USD.

encryption asset panorama
BTC (-0.83% | Current Price 108,196 USDT)
BTC's recent price quickly fell back after being blocked at a high of $113,469, briefly dropping below $108,000 and reaching a low of $107,350. In terms of moving averages, the short-term moving averages (MA5, MA10) have crossed below MA30, forming a bearish arrangement, indicating that the short-term trend remains weak. The trading volume has significantly increased during the decline, suggesting heavy selling pressure from bears.
Currently, BTC is fluctuating around $108,000, which is a key support zone of the previous low. If this level is lost, the price may further test the $106,000–$107,000 range; if it can stabilize and rebound, it will need to regain the MA30 (around $108,700) to repair the short-term trend.
Technical aspects need to be focused on.

Encryption Market Overview
According to CoinGecko data, from August 12 to August 25, 2025, in terms of market trends, BTC continues to be in a descending channel, with weak rebound momentum, but the amount of contract positions remains high, indicating that market sentiment has shifted to a wait-and-see approach. Attention should be paid to key support levels and changes in positions to assess rebound opportunities. ETH, on the other hand, shows strong momentum, once breaking through 4,900 USDT to reach a new high, with funds continuously flowing in and the ETF spot management scale exceeding 30.5 billion USD. If it can hold short-term support, it is expected to continue its upward trend, showing a structure that is significantly stronger than BTC.
Recently, the encryption market has shown trends of institutionalization and cross-ecosystem integration. In terms of ecology, BenFen and the Stellar Foundation are advancing RWA on-chain, while Wormhole intends to acquire StarGate.

BTC (-1.81% | Current Price 110,982 USDT)
Recently, BTC has entered a continuous correction after encountering resistance at the high of 113,200 USD, showing a clear downward channel structure. The current price is hovering around 111,500 USD, having maintained a low level for several hours. In terms of moving averages, the short-term moving averages (MA5, MA10) have crossed below MA30 multiple times, indicating that the bears still dominate. It is worth noting that BTC has formed a short-term low around 111,100 USD, accompanied by a slight rebound, indicating that there is some support in that area.
If BTC can consistently hold the range of 111,000–112,000 USD, there may be further upward recovery in the short term, with a target focus on the resistance level near 113,500–114,000 USD; conversely, if it falls below 111,000.

Gate Research Institute Daily: On August 29, the price of BTC experienced a period of fall, followed by a slight pump; the price of ETH showed a trend of first rising and then suppressing over the past 24 hours. The PYTH Token rose over 83% in the last 24 hours. London fintech company Finastra announced a partnership with Circle to introduce USDC into the global $50 trillion cross-border Payment Network; Bitcoin mining costs have increased, and miners are seeking diversification. Luxxfolio plans to raise $73 million to lay out a Litecoin reserve strategy.

encryption asset panorama
BTC (+0.22% | Current Price 111,547 USDT)
Recently, BTC entered a sustained correction after encountering resistance at a high of $124,497, showing a clear downward channel structure. The current price is around $111,500, having maintained a low-level fluctuation for several days. In terms of moving averages, the short-term moving averages (MA5, MA10) have crossed below MA30 multiple times, indicating that the bears still dominate. It is worth noting that BTC formed a phase low around $108,688, accompanied by a volume rebound, suggesting that there is certain support strength in this area.
If BTC can maintain a position in the range of 111,000–112,000 USD, it may have the potential for further upward correction in the short term, with a target focus on the resistance level near 114,000 USD; on the contrary, if it falls below 110,00

Abstract
1. This week BTC fell by 1.77%, ETH rose by 5.57%, and the average increase of mainstream DeFi tokens exceeded 10%.
2. Circle partners with Paxos to pilot new technology, enhancing the transparency and security of stablecoin payments.
3. Linea will conduct its TGE in September and launch the native ETH yield feature in October.
4. Aave Labs launched a new platform Horizon, allowing institutions to borrow tokenized assets as stablecoins.
5. Institutional investors are massively entering Ethereum ETFs, with Goldman Sachs leading Wall Street with a position exceeding $720 million.
6. Technology institutions hold over 20,000 bitcoins, and the trend of corporate entry continues to heat up.
Market Interpretation
Market Commentary
BTC Market —— This week BTC fell by 1.77%. Recently

Introduction
In 2013, Vitalik Buterin proposed a new idea in the Bitcoin community: if the blockchain could not only be used for transaction records but also run arbitrarily complex programs, it could become a true "world computer." This vision gave rise to Ethereum, which officially launched in 2015. Unlike Bitcoin, which emphasizes "peer-to-peer electronic cash," Ethereum provides a new underlying infrastructure for the development of decentralized applications through smart contracts and a Turing-complete virtual machine (EVM).
In the past decade, Ethereum has gradually walked a unique development path, from the release of the genesis block, to experiencing security challenges and community splits, and then through multiple rounds of system upgrades and the transformation of its consensus mechanism. Today, it is not only the most active smart contract platform but also a leader in decentralized finance (DeFi), non-fungible tokens (NFT), and decentralized autonomous.

encryption asset panorama
BTC (+0.14% | Current Price 111,449 USDT)
BTC is currently in a phase of consolidation and bottom building. The short-term moving average on the 1-hour chart has returned above MA30, indicating that prices are stabilizing in the short term, but a clear reversal structure has not yet formed. In terms of the MACD indicator, the dual lines have crossed upward, and the histogram continues to expand, although momentum appears to be slightly slowing down. Trading volume has not significantly increased, indicating that the current rebound is still a mild correction. If it can hold above 111,000, it may challenge the previous high around 112,500; otherwise, it needs to guard against a pullback testing the support at the integer level of 110,000.
ETH (+0.45% | Current Price 4,582 USDT)
The short-term trend of ETH is better than that of BTC, with the current price above the short-term moving average and showing a bullish arrangement. The MACD golden cross continues, with red bars continuing to expand, and momentum has not yet weakened.

crypto market panorama
BTC（ +0.14% | Current Price 111,449 USDT）：BTC is overall in a consolidation bottoming phase, with the 1-hour short-term moving average having returned above MA30, indicating that the price is stabilizing in the short term but has not yet formed a clear reversal structure. In terms of the MACD indicator, the dual lines have crossed golden and are on the rise, with the histogram continuing to expand but momentum appearing to slow slightly. The trading volume has not significantly increased, indicating that the current rebound is still a mild correction. If it can hold above 111,000, it is expected to challenge the previous high around 112,500; otherwise, caution is needed to prevent a drop to test the support at the integer level of 110,000.
ETH (+0.45% | Current Price 4,582 USDT): The short-term trend of ETH is better than that of BTC, and the current price is above the short-term moving averages, showing a bullish arrangement. The MACD golden cross continues, the red bars are still expanding, and the momentum has not yet weakened. Trading

Last week's market analysis showed that BTC continued to weaken, and after reaching a historical high, ETH entered a Sideways consolidation. Morpho protocol's TVL exceeded 10 billion, and Bio Protocol's rise approached 200%. With the support of the Fed, ETH saw strong capital inflows, and stablecoin regulation has entered a new phase.

crypto market panorama
BTC (-2.42% | Current Price 110,025 USDT): The price of BTC has seen a continuous decline recently and has now fallen below the 26-day moving average. Whales have been selling BTC one after another and exchanging it for ETH, bringing strong selling pressure to the market. However, institutional users continue to buy, and the current trend of Bitcoin remains unclear. It is essential to keep an eye on the interest rate policy following the release of the non-farm payroll data and CPI data in August. On August 25, BTC ETF inflow was 219 million USD, with BlackRock's IBIT inflow of 63.4 million USD and Fidelity's FBTC inflow of 65.6 million USD.
ETH (-5.92% | Current price 4,437 USDT): The price of ETH experienced a significant increase in the early morning of August 25, reaching a new high of 4,946 in this round.

encryption assets panorama
BTC (-1.84% | Current price 112,885 USDT)
The current BTC price is hovering around $112,800 and has recently been in a downward oscillation pattern. On August 23, there was a strong surge that quickly broke through to a high of $117,417, but it could not hold that level and has since continued to decline. The price has now fallen below the 5, 10, and 30-hour moving averages (the moving averages are in a bearish arrangement), indicating a weak short-term technical outlook.
From the perspective of trading volume, the decline process is accompanied by increased volume, especially when it broke below $113,000, indicating significant selling pressure. The key support below is at $110,600 (recent low), and if it falls below this level, it may further test the $110,000 integer level. The resistance above is in the range of $114,500—$115,000.