TradFi

Risks of a Fed rate hike and concerns over stagflation intensified. BTC fell 2.8% over the week, while ETH declined 3.56%, and BTC ETFs shifted back to net outflows. Gate TradFi trading volume approached $100 billion, with equity trading activity increasingly concentrated in U.S. and South Korean stocks. PancakeSwap trading volume rose to approximately $16.0 billion, surpassing Uniswap, while Robinhood Chain, RWA-related activity, and PUMP ecosystem meme tokens emerged as key sources of short-term trading flows. Stablecoin supply for USDG, RLUSD, and several others expanded against the broader trend. The LST sector broadly pulled back, although ETH staking assets showed relative resilience, while Aave lending activity was supported by Ethereum, Plasma, and Monad. BTC open interest declined from above $22.5 billion to around $22.0 billion, while funding rates remained positive. In the options market, 25D Skew weakened again as demand for downside protection recovered, while DVOL fell to

Crypto IPO Access adds a layer of stablecoin settlement, on-chain accounts, and global distribution on top of the traditional financial infrastructure. Using SpaceX as an example, assuming the same subscription amount, a 3% allocation rate, and an identical lock-up period, the stock gained 19.22% on its first trading day. The return on total subscription capital was approximately 0.54% through a traditional broker, compared with approximately 0.39% through Gate due to its 5% subscription fee. While traditional brokers offer a lower cost per allocated share, crypto platforms improve accessibility through lower minimum subscription thresholds, stablecoin-based funding, and globally accessible accounts. Going forward, the key competitive advantage will lie in consistently securing genuine IPO allocations and delivering them to investors through a transparent, cost-efficient, and legally robust structure.

Rising concerns over energy supply disruptions in the Middle East pushed both oil prices and inflation expectations higher. Brent crude briefly surpassed $100 per barrel, while the yield on the U.S. 10-year Treasury climbed toward 4.70%, weighing on growth stocks and sending the NASDAQ down about 2.1% for the week. The crypto market proved relatively resilient, with BTC consolidating at elevated levels and ETH outperforming on the back of capital rotation. Weekly net inflows into spot BTC ETFs slowed to approximately $34 million, while spot ETH ETFs recorded net inflows for a third consecutive week, reflecting a more selective allocation by institutional investors. On-chain activity showed increasing divergence: PancakeSwap overtook Uniswap, while PumpSwap and social media-driven meme token trading regained momentum. Stablecoin supply remained broadly flat, ETH LST continued to recover, and Aave lending activity became increasingly concentrated on Ethereum. In the derivatives market, B

Jersey Mike’s (NYSE: JMKE) has formally launched its IPO, offering 30 million shares of Class A common stock at an expected price range of $19 to $21 per share, implying a fully diluted market capitalization of approximately $8.3 billion to $8.9 billion. As the second-largest sandwich chain in the United States, Jersey Mike’s operates an asset-light model supported by a nearly 99% franchised store base and strong cash flow generation, although its store expansion is gradually shifting from rapid growth to a more mature growth phase. Proceeds from the primary offering will be used mainly to repay debt, while the transaction also includes a substantial secondary share component. Based on the company’s business model, financial performance, capital structure, use of IPO proceeds, and peer valuations, a reasonable valuation may fall within a range of 18–22x EV/Adjusted EBITDA, implying a fair value of approximately $21 per share.

Gate Wealth Report H1 2026 analyzes crypto market trends, Simple Earn, Dual Investment, On-Chain Earn, and Gate Stocks performance, highlighting yield strategies and asset allocation insights.

The cryptocurrency market remained under pressure in June, with both BTC and ETH posting monthly declines of around 20%. Gate Earn maintained relatively stable assets under management, fluctuating within the 1.5–1.6 billion USDT range. Total GUSD minted continued to trend lower, while its reference APY remained stable between 2.8% and 3.0%. Gate Dual Investment continued to outperform the market, with the Buy Low strategy offering a 0-day APY of 295%, significantly higher than the industry average of 166%. Among Gate Quant Funds, Interstellar Hedging (USDT) delivered the highest cumulative return at 18.7%. The top holdings in Gate Stocks remained highly concentrated in global semiconductor and technology growth companies, with SK Hynix ranking as the largest position.

BTC and ETH gained 1.48% and 3.62%, respectively, while spot ETF flows returned to net inflows overall, with Ethereum ETFs seeing a more pronounced recovery in capital inflows. Gate TradFi's weekly trading volume rebounded to approximately US$90 billion, accompanied by higher allocations to U.S. equities and ETFs. Robinhood Chain shifted market attention from the Solana meme ecosystem toward the "RWA + Tokenized Stocks + Meme" narrative. Uniswap continued to see user growth, the Ethereum ecosystem benefited accordingly, and both Lido's TVL and Aave's Ethereum lending market continued to expand. BTC funding rates remained positive throughout the week, although open interest (OI) showed no meaningful expansion, indicating restrained leverage despite constructive sentiment. Meanwhile, the options market was primarily driven by monthly contract rollovers and risk management, with 25D Skew continuing to normalize and DVOL remaining at subdued levels, suggesting that defensive positioning in

The crypto market continued its gradual recovery, with both BTC and ETH posting modest gains, while spot ETF flows reversed from net outflows to net inflows. Gate Stocks further diversified its trading structure, with South Korean equities rapidly emerging as a major source of trading volume. Driven by the Robinhood Chain meme narrative, Uniswap recorded a significant surge in trading activity. Ethereum ecosystem protocols such as Lido and Aave continued to benefit from growing inflows into RWAs, stablecoins, and institutional capital. BTC open interest remained range-bound while funding rates stayed positive, indicating that leveraged traders have re-entered the market on the long side, although long positioning has become increasingly crowded. Meanwhile, the 25D Skew continued to recover and DVOL declined toward lower levels, suggesting the market has shifted from pricing in downside protection to a low-volatility recovery phase.

In June, global capital markets were caught between the constraints of higher interest rates, easing geopolitical tensions, and weakening risk appetite, resulting in heightened volatility and continued market divergence. U.S. equities shifted from the AI-driven rally seen in previous months toward a phase of rebalancing, with leading AI and semiconductor stocks pulling back while defensive sectors such as healthcare outperformed. Institutional investors generally reduced exposure to high-volatility assets and rotated toward companies with more reasonable valuations and stronger earnings visibility. Against this backdrop, Gate became the largest weekly distribution channel among Polymarket Builders, highlighting how centralized exchanges are leveraging their user base, liquidity, and distribution capabilities to drive traffic and trading activity for prediction markets. This also reflects the broader evolution of crypto platforms from standalone trading venues into comprehensive financi

In May, global capital markets continued their recovery, with U.S. equities extending gains as the AI theme, resilient corporate earnings, and improving risk appetite supported the broader market, especially in technology and semiconductors. At the same time, structural divergence remained evident, with capital increasingly concentrated in core assets backed by visible growth and solid earnings. Against this backdrop, Gate officially launched real stock trading, further connecting crypto assets with traditional financial markets and providing users with a one-stop multi-asset trading gateway covering crypto, U.S. stocks, and ETFs. This also signals that crypto platforms are accelerating their evolution into comprehensive global financial infrastructure.

Crypto market risk appetite recovered, with BTC gaining approximately 6.8% and ETH rising about 12.2% over the week. Gate TradFi maintained a high weekly trading volume of around $85 billion, while U.S. stock trading volume extended its growth streak to five consecutive weeks, reaching a new period high. DEX activity continued to diverge, with Uniswap and PancakeSwap recording lower trading volumes, while PumpSwap sustained strong growth. The LST sector also rebounded, with ETH- and SOL-based liquid staking assets recovering alongside improving market sentiment. BTC open interest (OI) climbed back to $22 billion, and funding rates remained positive throughout the week, indicating renewed leveraged positioning. Meanwhile, Gate Institutional spot and futures trading volumes increased 17.71% and 10.70% week over week, respectively, while CrossEx trading volume rose 26% WoW during the first week of July.

The easing of geopolitical tensions in the Middle East drove oil prices lower, shifting market focus from the "war premium" to the prospect of higher interest rates for longer from the Federal Reserve. The Nasdaq declined about 3.3%, while BTC and ETH fell approximately 6.9% and 9.0%, respectively, accompanied by significant net outflows from spot BTC and ETH ETFs. On-chain liquidity continued to concentrate in high-turnover trading venues, with PumpSwap emerging as the week's largest source of incremental activity. Meanwhile, DeFi liquidity remained defensive, as stablecoins, the LST sector, and lending markets all exhibited cautious sentiment. Although BTC prices retreated, open interest (OI) remained broadly stable, indicating that the derivatives market continued to operate in a relatively low-leverage environment. At the same time, 25D Skew weakened further and DVOL climbed to around 47–48, suggesting that the options market was repricing downside risk.