VIP Weekly Industry Report

Gate Research VIP Weekly Report: Last week, sticky inflation and Warsh's hawkish remarks pushed up expectations for a rate hike, while U.S. equities still posted modest gains with support from the AI theme. BTC and ETH rose 2.10% and 0.59%, respectively, as the market shifted from a broad-based rally toward more selective, structural rotation. VET, XMR, and SPX ranked among the top performers, with 7-day gains of +21.03%, +19.17%, and +16.10%, respectively. On-chain capital flows shifted from the previous week's heavy two-way turnover to lower-volume net outflows, with major chains recording combined net outflows of approximately $426 million. Capital became increasingly concentrated in ecosystems with clear user access points and trading use cases. Tectonic, the largest lending protocol on Cronos, was attacked following price manipulation of the low-liquidity TONIC token, affecting approximately $75 million in assets.

Gate Research VIP Weekly Report: The crypto market significantly outperformed global financial markets. BTC and ETH broke through key technical levels, ttriggering a positive feedback loop that fueled a short squeeze and gaining approximately 23.6% and 31.3%, respectively, over the week. ENA, STX, and TRUMP ranked among the top performers, with ENA and STX surging nearly 100% and 93%, respectively. On-chain capital experienced significant rotation over the past week. Major chains recorded only around $53.13 million in aggregate net outflows, while both gross inflows and outflows exceeded $2.4 billion. Stablecoin supply increased by approximately $2.4 billion, with USDC accounting for nearly 70% of the increase after expanding by $1.67 billion. This indicates that incremental dollar liquidity is increasingly flowing into trading, margin, market-making, and cross-chain settlement activities.

Gate Research VIP Weekly Report: The crypto market failed to benefit from easing inflation. BTC declined initially before stabilizing and staging a modest rebound, ending the week down 3.08%. ETH followed a similar pattern but posted a smaller weekly decline of 1.81%. VELVET, ETHFI, and LINK ranked among the top performers, with 7-day returns of +123.25%, +29.40%, and +15.42%, respectively. On-chain capital recorded net outflows of approximately $289 million over the past week, while Ethereum’s net outflows narrowed significantly from around $1.069 billion the previous week to $453 million. Capital increasingly flowed into high-efficiency and high-yield opportunities. Spark Liquidity Layer TVL rose 12.8% week over week to $1.765 billion, indicating that stablecoin liquidity is shifting from passive deposits toward active asset allocation.

Gate Research VIP Weekly Report: BTC and ETH both rebounded over the week, with BTC gaining 2.10% and ETH rising 1.35% alongside the broader recovery in risk assets. PUMP, ZRO, and CRV led the gainers, posting 7-day returns of +32.54%, +21.27%, and +18.23%, respectively. Market leadership was concentrated in the Solana meme ecosystem, cross-chain infrastructure, DeFi, and other high-volatility narratives. Over the past week, on-chain capital flows were characterized by “outflows from Ethereum and dispersed inflows across alternative ecosystems.” Major recipient chains recorded approximately US$571 million in combined net inflows, while Ethereum saw approximately US$1.069 billion in net outflows, accounting for around 96% of total outflows among the major chains tracked. Capital increasingly favored ecosystems offering tangible trading revenue, points-based incentives, and RWA-related use cases.

Gate Research VIP Weekly Report: BTC initially rallied before reversing course last week, breaking below its short-term consolidation range and ending the week down 2.8%. ETH followed a similar trajectory but experienced greater volatility, falling 3.56% over the week. Cardano (ADA), Audiera (BEAT), and Uniswap (UNI) topped the gainers list, posting 7-day gains of +12.39%, +8.33%, and +6.02%, respectively. On-chain capital flows shifted further from “narrative-driven” to “revenue- and trading-driven” activity, with major blockchains recording a modest net inflow of approximately $15.56 million overall. The shutdown of Odos further highlights the declining value of DEX aggregators as standalone entry points, as wallets, trading bots, in-app swaps, and solvers continue to divert order flow.

BTC posted a modest 1.5% gain over the week, while ETH rose 3.6%. The crypto market continued to find support from easing inflation, although higher oil prices and geopolitical risks still restrained the expansion of leveraged positions. Among the top gainers, Pump.fun (PUMP), Pi (PI), and Injective (INJ) ranked first, second, and third, recording 7-day gains of 31.44%, 22.17%, and 12.45%, respectively. Over the past week, public blockchains recorded a net capital outflow of approximately $485 million. Ethereum was the primary source of outflows, with net outflows of around $894 million, while Avalanche attracted the largest net inflow of approximately $146 million, driven by Progmat's $2.7 billion tokenized securities migration and the deployment of Aave V4. Meanwhile, increased Meme trading activity on Robinhood Chain significantly boosted Uniswap's trading fees.

The global market remained focused on Federal Reserve policy divergence, the recovery of AI-related trades, and the repricing of oil prices and geopolitical risks.

BTC gained approximately 4% over the week, while ETH rose about 2.1%. Among major altcoins, Worldcoin (WLD), Bittensor (TAO), and LayerZero (ZRO) led the market, posting 7-day gains of 33.28%, 31.12%, and 26.89%, respectively. Over the past week, capital outflows across the crypto market continued, with Ethereum, Arbitrum, and Hyperliquid recording combined net outflows of more than $2.2 billion. In contrast, Ink attracted approximately $374 million in cumulative net inflows over three consecutive weeks, making it one of the few blockchains to absorb capital against the broader trend. Meanwhile, the FIFA World Cup significantly boosted prediction-market activity, with Polymarket and Kalshi together accounting for nearly 98% of the sports prediction market, further reinforcing the liquidity advantages of leading platforms.

BTC and ETH both suffered sharp losses last week, with BTC falling 11.33% and ETH declining 15.99%. Among the top gainers, BEAT, SIREN, and WLD led the market, posting 7-day returns of 275.13%, 93.47%, and 27.67%, respectively. On-chain capital flows turned notably defensive, with Hyperliquid and Ethereum recording net outflows of approximately $967 million and $736 million, respectively. Meanwhile, Ink, Solana, and Base emerged as the primary recipients of capital inflows, reflecting investor preference for new infrastructure with clear trading use cases and higher capital efficiency. At the same time, STRC fell to around $95, trading at a discount of more than 5% to par value, while Strategy even sold 32 BTC to fund preferred stock dividend payments.

Gate Research: BTC established strong support around the $80,000 level before breaking above $82,000 on strong volume. ETH showed higher volatility, while whale accumulation and short covering helped drive a gradual price recovery. Among top gainers, VVV, TON, and JUP led the market with gains of 74.31%, 65.54%, and 43.50%, respectively. Cross-chain capital flows showed a clear “Ethereum-centric” trend. Ethereum recorded more than $2.6 billion in net inflows, while Arbitrum also posted approximately $350 million in net inflows. Meanwhile, Uniswap v4 Hooks expanded rapidly, with mechanisms such as dynamic fees and JIT liquidity beginning to reshape value capture and liquidity competition across DEXs, further strengthening Ethereum’s position as on-chain financial infrastructure.

BTC briefly attempted to break the key psychological level of $75,000 but later pulled back under pressure from tightening macro liquidity expectations. ETH underperformed BTC in this rebound. Assets such as DeXe and edgeX led the market, rising by over 51% and 45% respectively. Gate announced that subscriptions for its first Pre-IPOs project, SpaceX (SPCX), will soon open. Following the KelpDAO rsETH hack, the Ethereum-centered DeFi ecosystem experienced significant capital outflows, with a net outflow of approximately $411 million over 7 days, extending to chains such as Arbitrum. The incident, rooted in a cross-chain bridge vulnerability, resulted in an estimated $292 million loss in assets. This hit Aave's liquidity and lending structures particularly hard, triggering a rapid decline in TVL.

Bitcoin has formed a broad consolidation base and rebounded strongly, with the $68,000–$69,000 range acting as a solid near-term support zone. Ethereum has shown slightly greater resilience and signs of relative independence. Cross-chain capital flows have taken on a clear one-way pattern, with funds rotating out of holding-oriented ecosystems such as Arbitrum and Ethereum into trading- and event-driven venues represented by Hyperliquid and Polygon PoS. This shift points to a broader transition from a positioning-driven market to a more trading-driven, high-frequency environment. After introducing fees, Polymarket posts strong profits, with weekly fees surpassing $10 million for the first time. Its business model is shifting from event-driven revenue to a more stable, transaction fee–driven model.