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Gate Research Daily Report: On July 21, the crypto market continued its recovery, with BTC reclaiming the $65,000 level and ETH firmly holding above $1,900. The Fear & Greed Index remained at 25 (Extreme Fear), reflecting cautious sentiment overall, though buying support for major assets has clearly strengthened. Among leading tokens, ON (+29.67%), ZEST (+24.50%), and NANO (+23.29%) topped the gainers, representing verifiable data infrastructure, BTCFi lending, and lightweight payment protocols respectively. On the industry front, Cardano completed the van Rossem hard fork, signaling that on-chain governance is now taking the lead in protocol upgrades; Allbridge Core paused operations due to an attack on its Solana stablecoin pool, highlighting the critical importance of cross-chain liquidity risk management; and the Franklin Templeton Benji platform’s asset share on BNB Chain rose to 61.7%, indicating that institutional-grade RWAs are actively reallocating across multiple chains.

On July 20, the crypto market continued its post-recovery consolidation pattern. BTC traded sideways around the $64,000 level, while ETH showed relatively stronger performance. In the options market, Call volumes dominated, indicating a modest rebound in short-term risk appetite, although the Fear & Greed Index remained in the Fear zone. Among hot tokens, BANK (+102.95%), ZEREBRO (+38.47%), and TLM (+35.44%) ranked as the top three gainers, with capital rotating into high-beta sectors such as BTCFi, AI Agent, and blockchain gaming. On the industry front, the OkoBot wallet attack highlighted terminal security risks, the Consensys supply chain incident drew attention to open-source security concerns, and Augur’s return is accelerating development in prediction market settlement layers. Overall, the industry’s main themes continue to focus on on-chain security upgrades, infrastructure risk management, and the building of prediction market ecosystems.

Gate Research Daily Report: On July 20, the crypto market overall continued to consolidate at high levels, with BTC experiencing a slight pullback but holding key support zones, while ETH performed relatively stronger. The Fear & Greed Index stood at 29 (Fear), as risk appetite continued to recover but remained cautious. Among hot tokens, BANK (+102.95%), ZEREBRO (+38.47%), and TLM (+35.44%) ranked as the top three gainers, representing the BTCFi, AI Agent, and blockchain gaming sectors respectively. On the industry side, Kaspersky disclosed the OkoBot 20-module wallet attack, underscoring that off-chain terminal security remains a critical weakness in on-chain asset protection; Consensys suspended partial version releases due to supply chain access risks, drawing attention to open-source collaboration process security; and Augur’s return to the prediction market with a focus on controversial settlement layers indicates that the on-chain information market is shifting from trading inte

Gate Research Daily Report: On July 17, BTC fell back below $64,000 while ETH underperformed on the downside, highlighting that market recovery remains selective rather than broad-based. The Crypto Fear & Greed Index improved to 33, but risk appetite is still restrained. Among the best-performing tokens, US (+22.05%), DGB (+19.20%), and SKYAI (+15.75%) led gains as capital rotated toward AI-related assets in the Sui ecosystem, legacy public-chain names, and high-beta AI tokens on BSC. On the industry front, JPMorgan said Strategy's larger cash reserves are an encouraging sign for Bitcoin's outlook, Visa argued that stablecoins will power micro-commerce in the agentic economy, and Washington continues negotiating the ethics section of the Clarity Act. Overall, the market is still repricing between capital preservation and selective narrative chasing.

Gate Research Daily Report: On July 17, BTC fell back below $64,000 while ETH underperformed on the downside, highlighting that market recovery remains selective rather than broad-based. The Crypto Fear & Greed Index improved to 33, but risk appetite is still restrained. Among the best-performing tokens, US (+22.05%), DGB (+19.20%), and SKYAI (+15.75%) led gains as capital rotated toward AI-related assets in the Sui ecosystem, legacy public-chain names, and high-beta AI tokens on BSC. On the industry front, JPMorgan said Strategy's larger cash reserves are an encouraging sign for Bitcoin's outlook, Visa argued that stablecoins will power micro-commerce in the agentic economy, and Washington continues negotiating the ethics section of the Clarity Act. Overall, the market is still repricing between capital preservation and selective narrative chasing.

Gate Research Weekly Report: BTC fell back over the past 24 hours and briefly dropped below $75,000, with FOMC-related volatility and large options expiry amplifying short-term market swings. ETH remained weaker than BTC, as ETF outflows and defensive sentiment continued to weigh on higher-beta assets. The altcoin market stayed in a structural rotation phase, with AI, security infrastructure, and selective thematic tokens showing relative resilience. Meanwhile, Hormuz-related geopolitical risk, stronger oil prices, and the Fed’s steady rate stance pushed risk asset pricing into a three-way game among geopolitics, energy, and interest rates. Solana’s RWA ecosystem TVL climbed to around $2.5 billion, while Ronin announced its migration to Ethereum L2. Over the next seven days, unlock events in SUI, ENA, HYPE, and EIGEN may add short-term supply pressure.

Gate Research Daily Report: BTC has shifted into a weaker consolidation pattern at elevated levels, with short-term moving averages transitioning from a bullish alignment to sideways resistance. ETH continues to trend higher within a volatile range and outperform BTC, with its price remaining close to short-term moving averages; further upside still requires confirmation from stronger trading volume. The Crypto Fear & Greed Index stands at 25, remaining in the “Extreme Fear” zone. AKE rose 272.33%, US gained 31.29%, and ORBR advanced 19.43%. South Korea is considering bringing virtual assets under the National Property Management Act; the United States froze more than $130 million in crypto wallet assets linked to Iran; and DTCC launched its first production trades involving tokenized stocks and U.S. Treasuries, with the initial assets including selected shares of the Invesco QQQ Trust, Microsoft, Circle, SPY, and short-term U.S. Treasury ETFs.

Gate Research Daily Report: BTC extended its rebound, while ETH outperformed BTC, although further upside will require stronger trading volume. QUAI (+34.18%), B3 (+30.49%), and DRV (+20.54%) ranked among the top gainers, with capital flowing into Layer 1 scalability, Base gaming infrastructure, and on-chain derivatives, reflecting improving risk appetite alongside the recovery in major cryptocurrencies. However, after the sharp short-term rally, sustained trading volume and fundamental support remain essential. Hyperliquid's on-chain stock perpetuals continued to gain market share, while Robinhood Chain entered the top five DEXs by weekly trading volume. Meanwhile, the UK unveiled its tokenized finance roadmap, elevating tokenization to a national strategic priority.

Gate Research Daily Report: BTC extended its rebound, while ETH outperformed BTC, although further upside will require stronger trading volume. QUAI (+34.18%), B3 (+30.49%), and DRV (+20.54%) ranked among the top gainers, with capital flowing into Layer 1 scalability, Base gaming infrastructure, and on-chain derivatives, reflecting improving risk appetite alongside the recovery in major cryptocurrencies. However, after the sharp short-term rally, sustained trading volume and fundamental support remain essential. Hyperliquid's on-chain stock perpetuals continued to gain market share, while Robinhood Chain entered the top five DEXs by weekly trading volume. Meanwhile, the UK unveiled its tokenized finance roadmap, elevating tokenization to a national strategic priority.

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 2026, the cryptocurrency market failed to extend May's recovery rally, with both BTC and ETH posting monthly declines of more than 20%. Major assets including BNB, XRP, DOGE, and ADA also came under broad selling pressure. Among the Top 500 cryptocurrencies, 70.99% recorded negative returns. The Top 1–100 segment posted an average return of -8.35%, while the Top 401–500 segment declined by an average of -11.09%. The top gainers were dominated by low-cap, high-volatility, event-driven tokens, led by CYDX (+35,729.13%), ANSEM (+23,901.60%), and VELVET (+1,548.44%). On the trading activity side, the 450 valid samples recorded an average Volume Spike of 2.54x, with only 17 tokens exceeding 3x volume growth. Genuine price-and-volume breakouts were concentrated in a small number of assets, most notably CX, VELVET, and SYN.

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.