TradFi

Last week, markets traded around energy shocks, sticky inflation, and expectations of further rate hikes, with WTI briefly surpassing $100 and risk assets coming under broad pressure. Institutional flows diverged significantly, as BTC ETFs shifted to net outflows while ETH ETFs maintained net inflows. TradFi trading activity remained elevated, with commodities seeing a notable increase in interest; total DEX trading volume rose approximately 6.7% week-over-week. On-chain borrowing demand remained resilient, although stablecoin funding costs began to rise. In derivatives, BTC and OI declined in tandem while funding rates remained positive. However, medium- to long-term Skew stayed negative, suggesting that the market has not entered a state of broad-based panic, while risk pricing remains cautious.

Global equity markets advanced broadly in August, while the crypto market rebounded significantly, with BTC, ETH, and most major altcoins posting gains. Gate Simple Earn holdings expanded notably in the latter half of the month. Gate also launched Idle Earn for USDT with a 3% annualized yield, allowing idle funds to earn automatically once enabled. GUSD assets reached a record high of $257 million in mid-August. In Dual Investment, the 0-day BTC Sell High product offered an annualized yield of 89.1%, 12.5 percentage points above the market average. Among Quant Funds, Interstellar Hedge (USDT) ranked first with a 6.3% period return, bringing its cumulative return to 19.7%. Within Gate Stocks holdings, SpaceX and SK Hynix ranked first and second, accounting for 29.2% and 27.8%, respectively.

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.

Last week, markets entered a high-level structural rotation amid increasingly hawkish rate-hike expectations. BTC briefly broke above 81,000 USDT, while BTC and ETH gained 2.10% and 0.59%, respectively. Institutional allocation diverged, with net inflows into BTC ETFs declining to $925 million, while ETH ETF inflows increased to $816 million. Gate TradFi trading volume rose approximately 17% to $123 billion, with capital rotating back toward U.S. equities and ETFs. On-chain activity shifted toward Meme and retail trading, while stablecoin supply increased by approximately $1.7 billion and SOL staking assets significantly outperformed ETH. BTC OI fell to approximately $12.4 billion, while demand for short-dated Puts increased. However, 25D Skew recovered to -3% and DVOL declined to around 37, indicating that leveraged momentum buying was cooling.

In August, global capital markets continued to recover amid weakening employment and growth momentum, although inflationary pressures remained unresolved. Policy expectations shifted from further tightening toward a pause in rate hikes and the prospect of eventual easing. AI and mega-cap technology stocks regained prominence in US equities, while gold, energy, and major crypto assets also attracted renewed investor interest. However, elevated US Treasury yields and geopolitical risks continued to constrain institutional risk appetite. In crypto markets, both spot Bitcoin and Ethereum ETFs recorded sustained net inflows. Bitcoin re-emerged as the core institutional holding, while Ethereum retained its role as a higher-beta allocation. Meanwhile, tokenized equities, Meme trading front ends, and x402 emerged as key on-chain themes. GMGN regained its edge as a leading gateway for Meme trading through its multi-chain coverage, while x402’s high-frequency micropayments provided early validat

Last week, markets entered a high-level structural rotation amid increasingly hawkish rate-hike expectations. BTC briefly broke above 81,000 USDT, while BTC and ETH gained 2.10% and 0.59%, respectively. Institutional allocation diverged, with net inflows into BTC ETFs declining to $925 million, while ETH ETF inflows increased to $816 million. Gate TradFi trading volume rose approximately 17% to $123 billion, with capital rotating back toward U.S. equities and ETFs. On-chain activity shifted toward Meme and retail trading, while stablecoin supply increased by approximately $1.7 billion and SOL staking assets significantly outperformed ETH. BTC OI fell to approximately $12.4 billion, while demand for short-dated Puts increased. However, 25D Skew recovered to -3% and DVOL declined to around 37, indicating that leveraged momentum buying was cooling.

GCRA integrates BTC, ETH, SOL, US equity indices, and leading AI stocks into a unified cross-asset framework. It uses seven-day, 30-day, and 90-day market data to identify trends, volatility expansion, position crowding, and cross-market correlations, then generates target positions through regime scoring, separate trend and crowding signals, volatility targeting, and risk budgeting. Execution is routed across Gate spot markets, perpetual futures, direct stock access, TradFi CFDs, and TradFi Perps according to holding period, trade direction, liquidity, and total cost, including fees, spreads, slippage, funding rates, and overnight charges. Margin limits, drawdown controls, execution monitoring, and model shutdown rules constrain live-trading risk across signal construction, product execution, and risk governance.

BTC and ETH broke through key technical levels, triggering a short squeeze and diverging sharply from U.S. equities. Institutional capital flowed strongly back into crypto ETFs, while TradFi trading activity continued to shift toward equities. Trading activity across ecosystems such as Base and Solana rebounded, with volumes on Aerodrome, Meteora, and Raydium rising sharply. LSTs, Aave borrowing, and stablecoin supply also expanded, indicating renewed on-chain capital deployment into trading, staking, and leveraged strategies. USDC and RLUSD were the primary contributors to stablecoin supply growth. BTC open interest rose to $12.6 billion, while 25D Skew fell to around -5.2% and DVOL climbed to 42–44, indicating that the market maintained medium-term upside exposure while pricing in significantly greater near-term downside risk.

U.S. inflationary pressures eased, shifting the market’s focus toward growth risks, while crypto assets underperformed U.S. equities. BTC and ETH ETFs recorded net inflows of $865 million and $244 million, respectively, signaling a recovery in institutional allocation; Gate TradFi weekly trading volume remained around $115 billion. Weekly DEX trading volume declined 5.2%, although Uniswap V4 and Aerodrome recorded pockets of growth. Robinhood Chain contributed approximately 60% of Uniswap’s weekly protocol revenue, suggesting that capital is increasingly focused on whether trading activity can translate into protocol revenue and other forms of long-term value capture. BTC open interest rose to $12.3 billion while funding rates remained positive. Demand for options-based downside protection increased temporarily, but both Skew and DVOL subsequently normalized, leaving the medium- to long-term market outlook cautiously bullish.

In July, the crypto market continued its cautious recovery, with total market capitalization rebounding to $2.26 trillion, up approximately 7.6% month over month. As some capital shifted back toward stable-yield strategies, total GUSD issuance rose rapidly to approximately 215 million tokens. Gate Dual Investment delivered strong performance, with annualized yields on 0-day BTC Buy Low and Sell High products reaching 95.5% and 113.5%, respectively, outperforming the market averages by 34.4 and 32.6 percentage points. Among quantitative funds, Interstellar Pioneer led with a monthly return of 4.2%, while Interstellar Hedge recorded a cumulative return of 19.1% and maintained a 100% monthly win rate for 25 consecutive months. In terms of stock holdings, SK Hynix and SpaceX ranked as the top two positions, accounting for 59.3% and 15.2%, respectively.

U.S. employment data weakened significantly, reducing expectations for a September rate hike and pushing U.S. Treasury yields lower. BTC and ETH ETFs recorded weekly net inflows of approximately US$865 million and US$244 million, respectively, while Gate’s weekly trading volume approached US$115 billion, reaching a new recent high. On-chain activity shifted from short-lived thematic surges toward structural rotation: PancakeSwap continued to lead Uniswap, while stablecoins, LSTs, and Aave lending expanded moderately as risk appetite improved. Ethereum remained the primary anchor for lending demand, while Monad emerged as the largest source of incremental growth. BTC open interest increased moderately and funding rates remained positive, while options trading showed a bullish bias. The 25D Skew improved from approximately -4 to -6 vol to around -3.6 vol, while DVOL remained low at around 35.

The crypto CFD market is evolving from a mere product extension of crypto derivatives into a competitive phase centered on cross-asset integrated accounts. Platforms are no longer competing solely on leverage and short-term trading volume, but on asset coverage, capital retention, user composition, and cross-market infrastructure. Gate uses USDT as the funding medium to connect CFDs, perpetual contracts, stocks, ETFs, API trading, copy trading, and wealth management into a unified multi-asset ecosystem. By Q2 2026, its CFD offering had expanded to 663 tradable assets, with peak weekly trading volume exceeding $150 billion. The report concludes that Gate’s core breakthrough lies in converting TradFi trading scenarios into stronger account retention and the capacity to attract and retain professional capital.