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Gate Research Daily Report: On April 27, the crypto market continued its recovery. Bitcoin reclaimed the $79,000 range and entered high-level consolidation, while Ethereum rebounded with stronger elasticity. Overall, the market remains driven by structural positioning, with major assets continuing to dominate capital flows. Among trending tokens, AIOT, GWEI, and LDO represent strength in AIoT/DePIN, small-cap infrastructure narratives, and the liquid staking sector, respectively. Market opportunities remain concentrated in theme rotation and structurally driven rebounds fueled by sentiment recovery. On the industry side, Aave’s handling of rsETH-related risks has entered a multi-party coordination phase. The center of Bitcoin options activity is shifting toward ETF channels, reinforcing institutional influence over pricing. Meanwhile, stablecoin market capitalization has reached a new high and is accelerating its expansion into payment and settlement use cases.

Gate Research Daily Report: On April 24, BTC consolidated above $78,000, ETH hovered around $2,330, and GT traded near $7.38. Small- and mid-cap tokens remained active, with KAT, STABLE, and GRND leading gains. Meanwhile, the fallout from the KelpDAO exploit continued to spread across DeFi, Arbitrum’s fund freeze reignited debate over the limits of decentralization, and Tether’s freeze of $344 million in USDT on Tron brought stablecoin compliance back into focus.

Gate Research Daily Report: On April 24, BTC consolidated above $78,000, ETH hovered around $2,330, and GT traded near $7.38. Small- and mid-cap tokens remained active, with KAT, STABLE, and GRND leading gains. Meanwhile, the fallout from the KelpDAO exploit continued to spread across DeFi, Arbitrum’s fund freeze reignited debate over the limits of decentralization, and Tether’s freeze of $344 million in USDT on Tron brought stablecoin compliance back into focus.

Gate Research Weekly Report:BTC is currently trading near $78,300 after breaking above the $78,000 level and reaching a high of $79,469, while ETH is quoted around $2,366.70 and remains mildly strong after rebounding from recent lows. The altcoin market has entered a high-level structural divergence phase, with CHIP, MDAO, and CORE gaining 130.27%, 168.35%, and 15.32% respectively, as AI infrastructure and BTCFi narratives continue to attract capital. Total stablecoin supply stands at around $320 billion, while Ethereum mainnet gas fees remain below 0.5 Gwei, keeping on-chain interaction costs low. DeFi security pressure has intensified, with losses from exploits exceeding $600 million in the first 18 days of April. Meanwhile, institutional capital has returned, with crypto ETFs attracting about $1.37 billion in weekly inflows. In the coming seven days, H, JUP, and XPL will unlock approximately $130 million, $9.19 million, and $9.05 million worth of tokens respectively, which may intro

Gate Options Daily Market Update.

Gate Research VIP Report: BTC continues to trade within a strong upward channel, with market risk appetite rebounding significantly, while ETH is also showing moderate bullish momentum. CHIP and MDAO were respectively driven higher by exchange listings, FDV speculation, and ecosystem incentive upgrades, while CORE has continued to strengthen steadily amid rising enthusiasm surrounding the BTCFi narrative. Crypto-focused venture capital firm Blockchain Capital is raising capital for two growth funds with a combined target size of $700 million. Expectations for improving liquidity conditions continue to strengthen, with both the S&P 500 and Nasdaq Composite closing at record highs, while crypto-related equities rallied broadly. Meanwhile, after roughly a day and a half of operations, the KelpDAO hacker converted nearly all 75,700 ETH into BTC through the THORChain protocol.

Over the past month, on chain capital and data have shown clearer flow direction. The total stablecoin market cap surpassed $320 billion and continued to expand, while RWA scale grew in parallel, with more capital remaining on chain rather than flowing into exchanges. Solana maintained the highest level of transaction activity but slowed in April, while Base and Polygon saw declines in both transactions and active addresses. Ethereum experienced lower activity alongside rising fees. On the event side, the Drift and KelpDAO security incidents triggered large scale capital migration and deleveraging, pushing up mainnet fees and borrowing rates while significantly disturbing cross chain net flows. Arbitrum inflows and related asset freezes were mainly driven by event-based fund movements, leading to a divergence between on-chain data and actual capital preferences. In terms of price, BTC and ETH rebounded significantly and returned to the cost basis range of most holders.

In March, the crypto market exhibited a clear pattern of structural divergence. In terms of price performance, the top 500 tokens by market cap recorded an average decline of 7.71%, while the 201–400 segment bucked the trend with gains of 3.6%–7.1%. At the individual level, ARIA led the market with a 394.12% increase, while within the top 100, TAO rose 67.93%, highlighting the strength of the AI sector. On the volume side, SIREN saw trading volume increase 6.64x alongside a 488.68% price surge, whereas NIGHT experienced a 73.22x spike in volume but declined 25.61%, indicating selling pressure and capital outflows. In terms of correlation, OKB showed a high correlation of 0.86 with the broader market, while ICP stood at 0.71, suggesting that market performance remains largely Beta-driven. Overall, March’s market was dominated by high-beta, small- and mid-cap assets.

Gate Research VIP Report: BTC continues to trade within an upward channel, successfully holding the key support level at $74,800. ETH’s short-term rebound trend is likely to continue. The AI sector has surged broadly, with OPG, BAS, and AITECH posting strong gains, driven by multiple catalysts including TGE/airdrop events, technological upgrades, and anticipated exchange listings. The CLARITY Act still has a path to pass in the Senate but must be approved before July; Kalshi and Polymarket have launched crypto perpetual contracts, signaling the evolution of prediction markets into comprehensive derivatives platforms; impacted by the rsETH event, Aave’s TVL has declined sharply, triggering deleveraging, with capital rotating into more resilient protocols such as Spark.

BTC continues to trade within an upward channel, successfully holding the key support level at $74,800. ETH’s short-term rebound trend is likely to continue. The AI sector has surged broadly, with OPG, BAS, and AITECH posting strong gains, driven by multiple catalysts including TGE/airdrop events, technological upgrades, and anticipated exchange listings. The CLARITY Act still has a path to pass in the Senate but must be approved before July; Kalshi and Polymarket have launched crypto perpetual contracts, signaling the evolution of prediction markets into comprehensive derivatives platforms; impacted by the rsETH event, Aave’s TVL has declined sharply, triggering deleveraging, with capital rotating into more resilient protocols such as Spark.

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.

Against a backdrop in which political, sports, and geopolitical events continue to amplify trading demand while the platform simultaneously expands the scope of its fee coverage, Polymarket’s trading volume and active user base have continued to rise, showing structural growth built on event driven momentum. The rapid increase in its fees and revenue is not only the result of expanding trading demand, but is also closely tied to the broader fee coverage and adjustments to the fee schedule. As such, strong revenue alone is still not enough to prove that the platform has achieved long term validation. Trading on the platform remains highly concentrated in a small number of high attention sectors, including politics, sports, and geopolitics, suggesting that Polymarket functions more as a trading venue activated by headline events than as a broad based platform with evenly distributed liquidity. Gate, meanwhile, is entering the prediction market through its account system, lower onboarding