TradFi

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.

Global markets traded around the Fed’s hawkish signals last week, with both BTC and ETH declining by more than 4%. The overall outflow trend from ETFs remained unchanged, while Gate TradFi Perp trading activity stayed elevated and coverage of U.S. equity assets continued to expand. DEX trading volumes showed divergence, with Uniswap slightly overtaking PancakeSwap and Solana ecosystem activity recovering; stablecoin supply saw no significant new dollar inflows, with capital rotation remaining the dominant trend. BTC’s derivatives market continued its deleveraging process, with open interest declining rapidly while funding rates remained positive. Cooling options trading activity, weakening Skew, and a rebound in DVOL indicated rising short-term defensive demand and renewed expectations for market volatility.

Last week, BTC, ETH, and the broader crypto market staged a sharp reversal, recovering after an initial sell-off, while ETF fund flows improved significantly. Over the same period, Gate TradFi Perp recorded daily trading volumes exceeding $500 million on multiple occasions, with stocks accounting for a noticeably larger share of total volume, reflecting growing interest in equities and Pre-IPO-related assets. Meanwhile, DEX trading volumes declined across major protocols compared with the previous week, indicating softer on-chain trading activity. The LST sector rebounded alongside the recovery in ETH and SOL prices, while Aave lending activity stabilized and resumed growth, supported by persistently low borrowing rates and easing liquidity pressure in USDC markets. In derivatives markets, sentiment improved in tandem with BTC's rebound. Leverage began rebuilding as traders re-entered the market, downside hedging demand eased significantly, and both options trading volume and implied v

The surging demand for AI model training and inference is driving the global storage industry into a new era of valuation reassessment. With sustained growth in high-end storage products—such as High Bandwidth Memory (HBM), DDR5, and enterprise SSDs—industry leaders like Samsung Electronics, SK Hynix, and Micron Technology are capitalizing on AI data center expansion, supply tightness, and the widespread adoption of Long-Term Agreements (LTAs). This has led to notable improvements in both profitability and valuation frameworks. Micron’s milestone of surpassing a trillion-dollar market cap underscores the market’s strategic repricing of the AI storage ecosystem and a structural shift from traditional cyclical dynamics to AI infrastructure-driven growth. In parallel, Gate has introduced products including equities, Perpetual Futures, and Leveraged ETFs, providing investors with diversified trading and allocation instruments to engage in the AI storage sector.

Last week, global macro markets experienced a dramatic shift from rising optimism to a sharp reversal. Bitcoin fell approximately 15% for the week, while Ethereum declined around 22%. Following the launch of Gate’s U.S. stock trading service, the number of listed assets expanded rapidly. On-chain trading activity rebounded notably, with major DEXs including Uniswap, PancakeSwap, and Aerodrome recording higher trading volumes. Meanwhile, the LST sector broadly weakened, Aave’s lending volume continued to contract, and new demand increasingly flowed into emerging ecosystems such as MegaETH. In derivatives markets, BTC open interest (OI) dropped by more than 15%, while 25D Skew plunged to deeply negative levels and DVOL briefly surged to 52–54, indicating that short-term downside hedging demand reached one of the highest levels of the current cycle. On the institutional side, Gate’s spot trading volume increased 92.16% week-over-week, while CrossEx trading volume rose 47.1% over the same

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.

Over the past week, the market was jointly driven by easing geopolitical tensions, cooling inflation, and stable policy expectations. Oil prices declined sharply, the S&P 500 Volatility Index moved lower, and risk appetite rebounded, with BTC shifting its range upward to $68,000–$73,000. On the capital side, the market saw a strong recovery following prior volatility, with Bitcoin ETF net inflows reaching approximately $833 million for the week—marking a new cyclical high—while Ethereum ETFs also recorded net inflows, indicating a return of institutional dominance. Trading structure shifted toward macro-driven, high-volatility assets and leading platforms, with capital concentrating in energy products such as crude oil, while on the DEX side, liquidity gravitated back to major venues like Uniswap. Stablecoins and DeFi showed structural recovery, with USDC emerging as the primary source of incremental liquidity, and funds flowing back into leading staking protocols and core lending mark

Over the past week, the market was jointly driven by easing geopolitical tensions, cooling inflation, and stable policy expectations. Oil prices declined sharply, the S&P 500 Volatility Index moved lower, and risk appetite rebounded, with BTC shifting its range upward to $68,000–$73,000. On the capital side, the market saw a strong recovery following prior volatility, with Bitcoin ETF net inflows reaching approximately $833 million for the week—marking a new cyclical high—while Ethereum ETFs also recorded net inflows, indicating a return of institutional dominance. Trading structure shifted toward macro-driven, high-volatility assets and leading platforms, with capital concentrating in energy products such as crude oil, while on the DEX side, liquidity gravitated back to major venues like Uniswap. Stablecoins and DeFi showed structural recovery, with USDC emerging as the primary source of incremental liquidity, and funds flowing back into leading staking protocols and core lending mark

Over the past week, markets were primarily driven by the escalation of the US Iran conflict. WTI crude rose nearly 17% and returned above the $100 level, pushing US Treasury yields higher, with the 10 year reaching 4.44%, while the US dollar strengthened. The crypto market declined by more than 6% overall, and the S&P 500 Volatility Index climbed to 31. On the capital side, BTC and ETH ETFs recorded about $500 million in net outflows mid week, followed by a modest rebound.

The market repriced expectations for further Fed rate hikes, keeping pressure on crypto assets. BTC declined approximately 4.3% over the week, while ETH fell around 4.8%. Global crypto ETPs recorded net outflows for a second consecutive week, totaling $2.54 billion. Gate officially launched stock trading, providing access to more than 10,000 U.S. stocks and ETFs. PancakeSwap surpassed Uniswap in trading volume, while activity in the LST sector cooled, with the Solana ecosystem remaining relatively resilient. Risk appetite across DeFi remained cautious, as Aave's lending volume continued to decline, although borrowing rates for its three core assets largely stabilized. In the derivatives market, BTC exhibited a combination of falling prices, persistently positive funding rates, and continued volatility compression.

Over the past week, markets continued to swing around developments in U.S.-Iran negotiations and expectations for Fed policy. Easing geopolitical tensions briefly pushed oil prices lower, while the U.S. 10 year Treasury yield climbed toward 4.56%. U.S. equities extended their divergent rally, whereas the crypto market remained broadly weak. BTC ETFs recorded roughly $1.256 billion in net outflows for the week, while ETH ETFs saw approximately $216 million in net outflows, reflecting continued cautious institutional positioning. Onchain liquidity continued to concentrate in leading DEXs such as Uniswap, PancakeSwap, and Aerodrome, while the stablecoin market increasingly shifted toward a repricing framework centered on settlement efficiency and regulatory compatibility. The Aave lending market gradually moved back toward normalization, while emerging chains such as MegaETH and Plasma continued absorbing incremental liquidity flows. In derivatives, the market maintained a low leverage, w

Last week, BTC ETFs recorded net outflows of approximately $996 million, while ETH ETFs saw net outflows of around $255 million. On-chain TradFi activity and CEX derivatives trading continued to be dominated by safe-haven assets such as gold. On-chain liquidity remained concentrated in leading DEXs including PancakeSwap and Raydium. Lending activity and LST sectors on the Aave mainnet declined, with leverage demand across both Ethereum and Solana ecosystems cooling simultaneously. Meanwhile, emerging chains such as MegaETH and Plasma continued to absorb structural capital rotation. BTC open interest (OI) continued to trend lower, while the share of put option trading volume and negative 25D Skew both expanded further, accompanied by a gradual rise in the DVOL baseline. Gate’s institutional spot market share increased against the broader trend, rising 10% week-over-week, while cross-margin lending volume also grew 10% WoW.