Topics

Gate Research Daily Report: The probability of a 25 bps Fed rate hike in July rose to 34.2%. BTC traded lower after opening higher during the day, while ETH saw a significantly larger decline than BTC. DEXE surged 29.17%, driven by a short-squeeze rally; POPCAT gained 20.93% on renewed momentum in the Solana Meme sector rotation; BR rose 17.74%, supported by capital inflows into the restaking sector. The U.S. AI sector experienced a “Black Tuesday,” with Micron and SanDisk both falling more than 13%, while crypto-related stocks also came under pressure. Total crypto liquidations reached $650 million over the past 24 hours, with long positions dominating liquidations as the market continued its deleveraging process. The probability of a Fed rate hike in July climbed to 34.2%, while the EU’s MiCA transition period concluded, marking a new stage in regulatory compliance.

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.

Concerns over tighter liquidity conditions triggered by the Fed’s hawkish outlook had a significant impact on digital assets. BTC declined approximately 4% over the week, while ETH declined by around 4%. On-chain capital flows showed clear signs of risk reduction and structural rotation, with Ethereum recording a weekly net outflow of $945 million. In contrast, Hyperliquid, Ink, BSC, and Plasma attracted limited inflows driven by narratives around trading, CEX entry points, RWA, and stablecoin payments. Meanwhile, USD1 supply increased by 10.4% over the week, primarily driven by exchange distribution and multi-chain deposits, indicating that stablecoin competition is increasingly shifting toward distribution channels and real-world application scenarios.

Gate Research Daily Report: On June 23, the crypto market remained range-bound at lower levels, with BTC and ETH posting modest recoveries. However, the Fear & Greed Index remained at 23, indicating that risk appetite has yet to recover. Among the top-performing tokens, DEXE, SYN, and BLESS highlighted three of the market’s most active short-term themes: DAO governance, cross-chain infrastructure, and decentralized AI computing networks. On the regulatory front, the Bank of England softened its proposed stablecoin framework, discussions around restrictions on central bank digital currencies (CBDCs) gained momentum, and concerns over potential stablecoin run risks attracted increased attention. Together, these developments suggest that digital asset regulation is increasingly shifting its focus toward ensuring the safe operation of digital currencies rather than simply determining whether they can be issued.

On June 22, BTC and ETH continued to trade in a low-range consolidation pattern, while market sentiment remained in the Extreme Fear zone. Large BTC options trades were concentrated in puts, reflecting growing hedging demand around the key $60,000 support level. ETH implied volatility remained near historical lows, but expectations for a volatility expansion have started to build. LAB, NAORIS, and HMSTR led the market higher, with trading infrastructure, post-quantum security, and the TON ecosystem attracting short-term capital flows. On the industry front, spot Bitcoin ETFs recorded their largest-ever 30-day net outflow, while Bitcoin miners entered a capitulation phase. Polymarket came under scrutiny following reports of simulated betting promotions, raising compliance concerns. Meanwhile, a series of security incidents involving MEV bots, cross-chain bridges, and on-chain vault products highlighted ongoing risks across crypto infrastructure, further increasing market attention on se

Gate Research Daily Report: On June 22, the crypto market remained range-bound near recent lows, with BTC and ETH continuing to rotate around key support levels. The Fear & Greed Index fell to 21, indicating that market sentiment remains firmly in the Extreme Fear zone. Among trending tokens, LAB, NAORIS, and HMSTR attracted significant short-term attention, representing trading infrastructure, on-chain security, and TON ecosystem community-driven narratives, respectively. On the industry side, spot Bitcoin ETFs recorded the largest 30-day net outflow since their launch, while miners entered a new phase of capitulation. At the same time, controversy surrounding Polymarket’s marketing practices continued to intensify, and a series of security incidents involving MEV infrastructure, cross-chain bridges, and vault products exposed broader vulnerabilities across the ecosystem. Market attention is increasingly shifting away from short-term price movements toward capital flows, platform cred

Gate Research Weekly Report: This week, the crypto market came under pressure following the Federal Reserve’s hawkish shift, leading to continued weakness in major assets such as BTC and ETH. Market sentiment fell into the “Fear” zone, while persistent ETF outflows reflected a cautious stance among institutional investors. Despite the broader downturn, sectors such as stablecoins, RWA, and payment infrastructure continued to show strong long-term growth potential, while AI Agent and cross-chain projects attracted selective capital inflows. In the near term, the market is likely to remain volatile and range-bound, but ongoing institutional adoption and infrastructure development continue to provide positive long-term support for the industry.

Gate Research Daily Report: BTC traded in a "high-open, low-close" pattern, retreating significantly from its intraday high of 66,440 USDT and maintaining an overall downward trend. Fear & Greed Index at 22 ("Extreme Fear"); SYN +61% driven by cross-chain narrative recovery, ZEREBRO +29% boosted by AI Agent sentiment, XAN +14% led by privacy protocol attention; Fed Chair Waller's Hawkish Debut Sends Dot Plot Toward Rate Hikes — Crypto Markets Under Pressure; Strategy Preferred Stock STRC De-pegs Severely, Company Claims "Bitcoin Reserves Cover 32 Years of Dividends"; Fidelity and Wall Street Race to Manage Stablecoin Reserves as Trillion-Dollar Race Begins.

Gate Research Daily Report: BTC fell 0.76% to 65,814.7 USDT, ETH edged up 0.21%, fear & greed index at 24 (Extreme Fear); IKA surged 33.95% on Move ecosystem narrative, VELVET gained 22.64% on DeFi asset management demand, PUFFER rose 16.38% on Ethereum restaking momentum. Kevin Warsh is set to chair his first FOMC meeting, with potential hawkish signals that could reshape market expectations for future rate hikes. SpaceX's options market debut highlights elevated volatility expectations, sparking debate over the sustainability of its trillion-dollar valuation. Meanwhile, the tokenized RWA market has surpassed $43 billion in size, signaling an accelerating migration of institutional capital onto blockchain-based financial infrastructure.

Gate Research Daily Report: BTC fell 0.76% to 65,814.7 USDT, ETH edged up 0.21%, fear & greed index at 24 (Extreme Fear); IKA surged 33.95% on Move ecosystem narrative, VELVET gained 22.64% on DeFi asset management demand, PUFFER rose 16.38% on Ethereum restaking momentum. Kevin Warsh is set to chair his first FOMC meeting, with potential hawkish signals that could reshape market expectations for future rate hikes. SpaceX's options market debut highlights elevated volatility expectations, sparking debate over the sustainability of its trillion-dollar valuation. Meanwhile, the tokenized RWA market has surpassed $43 billion in size, signaling an accelerating migration of institutional capital onto blockchain-based financial infrastructure.

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

In May 2026, the crypto market staged a rebound following the $900 billion correction in Q1, with total market capitalization recovering to approximately $2.81 trillion. BTC posted a monthly return of -3.47% and remained down roughly 14.6% year-to-date, while ETH continued to trade more than 51% below its all-time high. Among the Top 500 tokens, 54.8% recorded negative monthly returns. However, the sharp divergence between the average return (+11.28%) and the median return (-0.07%) suggests that gains were highly concentrated in a small number of low-cap tokens. Extreme outperformers such as LAB (+1,055.8%), OCT (+482.3%), and TROLL (+398.5%) were primarily concentrated in the Rank 300–500 segment. From a volume perspective, 454 tokens recorded higher trading activity, with an average volume increase of 2.35x, while 76 tokens saw volume expand by more than 3x. Tokens exhibiting both price and volume expansion—including ALLO (29.2x), XLM (25.4x), and SHOW (18.3x)—provided strong bullish