Research

Gate Research: This report summarizes key developments in the blockchain industry from March 28 to April 2, 2025. Sonic Labs announced the upcoming launch of SonicCS 2.0, aiming to double consensus speed and significantly reduce resource usage. Active users on the Solana network continued to hit new highs, with over 11.12 million addresses now holding more than 0.1 SOL. Uniswap v4 surpassed $2.7 billion in cumulative trading volume. Vitalik Buterin released a Layer 2 security roadmap for Ethereum, focusing on scalability, proof mechanisms, and system unification. The second phase of the Babylon Genesis Mainnet is set to launch. Bio Protocol released its V1 upgrade, introducing a permissionless launch platform and AI agents.

Gate Research: This week, Silencio Network, Shape Network, X365 AI, and Hyperbeat offer users new ways to engage with the Web3 ecosystem. Silencio rewards users with SLC tokens in exchange for uploading mobile noise data. Shape enables creators to mint NFTs, build on-chain reputation, and invite others to earn airdrop eligibility. X365 AI combines RWA and AI, allowing users to earn points by connecting their wallets. Hyperbeat optimizes yield on HyperEVM, where participants can collect “Hearts” points through various activities to qualify for airdrops. All four projects are in early stages, offering room for ecosystem participation and potential returns.

Gate Research Daily Report: On April 2, Bitcoin price rose by 2.14% to $84,672, while Ethereum price increased by 2.90% to $1,883. Ethereum's weekly blob fees hit a new low since the Dencun upgrade. Long-term holders who entered between 2020 and 2022 continue to hold their Bitcoin with conviction. Sonic's TVL surpassed $1 billion. BlackRock received UK regulatory approval to become a crypto asset firm. The Trump administration is proposing "Bitcoin Bonds" to expand Bitcoin reserves.

This report reviews Web3 on-chain data for March 2025. Ethereum saw the largest net outflow of $486 million. Meanwhile, the market absorbed 2 million BTC in selling pressure, with long-term holders adding 278,000 BTC to their positions. Bitcoin exchange reserves hit a five-year low at 2,639,252 BTC. Four.meme created 153,212 tokens by March 31, with its trading volume spiking in March, reaching $80.18 million in daily volume on March 21. CZ’s influence drove $MUBARAK to a trading volume of $258 million on March 17.

Gate Research Daily Report: On April 1, Bitcoin edged up 0.07% to $83,010, while Ethereum dipped 0.30% to $1,835. Digital assets saw $226 million in net inflows over the past week, ending a five-week outflow streak for altcoins. Stablecoin supply on Tron increased by $1.21 billion in the last 7 days. Bitcoin's exchange supply dropped to 7.53%, the lowest since February 2018. NFT marketplace X2Y2 announced it will cease operations. The second phase of the Babylon Genesis mainnet is set to launch. Circle is advancing its initial public offering (IPO) plans.

March 2025 witnessed a surge of significant developments in the blockchain and cryptocurrency sectors, demonstrating the market's vitality and industry trends. Key projects including Gate.io Wallet, Berachain, Aave, Raydium, and Pump.fun made substantial progress through performance upgrades, on-chain governance improvements, protocol expansions, and new platform launches - highlighting product innovation and community growth while injecting fresh momentum into the industry. Meanwhile, the manipulation attack on Hyperliquid, which triggered forced liquidations, served as a wake-up call for DeFi projects to strengthen their risk management and governance structures.

Gate Research: March 2025 was marked by a complex and volatile global economic and financial landscape. In the United States, February inflation data came in well below expectations, while the March consumer confidence index dropped sharply from 67.8 to 57.9—both signaling a weakening U.S. economy. In the crypto sector, the IMF introduced a clear classification framework for digital assets, designating Bitcoin as a capital account asset, and former President Donald Trump announced plans to establish a U.S. national crypto reserve, including BTC, ETH, SOL, XRP, and ADA as core holdings. On the whole, March brought a wave of policy and regulatory developments that were broadly favorable for the crypto market. These intersecting events not only influenced short-term market dynamics but also provided valuable direction for future economic policymaking and market evolution.

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On March 31, Bitcoin fell 1.75% to $81,631, while Ethereum declined 1.79% to $1,803. The number of Solana addresses holding more than 0.1 SOL surpassed 11.12 million, marking a new all-time high. Cumulative trading volume on Uniswap v4 exceeded $2.7 billion. Vitalik released a security roadmap for Ethereum Layer 2. Daily crypto trading volume has plummeted nearly 70% since the U.S. election. Meanwhile, global crypto regulations continue to ease, with 47 countries having relaxed policies since 2020.

Gate Research Daily Report: On March 28, Bitcoin fell by 0.77% to $86,783, while Ethereum dropped by 1.06% to $2,003. Hyperliquid announced it will delist JELLY, with user losses to be covered by the foundation. Sonic Labs is set to launch SonicCS 2.0, aiming to double consensus speed and significantly optimize resource usage. Kazakhstan plans to establish a national crypto bank to bring all crypto trading under full regulatory oversight. In Q1, hacker attacks resulted in $1.64 billion in losses across the crypto market, setting a new quarterly record. Meanwhile, Bitcoin whales accumulated over 129,000 BTC this month, marking the strongest accumulation trend in nearly seven months.

Gate Research (March 21–27, 2025) presents a comprehensive analysis of key developments in the cryptocurrency market and broader macroeconomic landscape. On March 21, the U.S. SEC clarified that PoW mining activities do not constitute securities issuance. On March 24, the IMF officially introduced a crypto asset classification system, listing Bitcoin under the capital account. That same day, the Oklahoma House passed a bill proposing the inclusion of Bitcoin in public fund reserves, while Kentucky signed the "Bitcoin Rights Act" to protect the rights to self-custody and node operation. On March 25, Asia Web3 Alliance Japan proposed a U.S.-Japan partnership to advance tokenization and Web3 innovation. Finally, on March 27, Wyoming announced plans to launch the WYST stablecoin in July, marking the first fiat-backed stablecoin to be issued by a U.S. state.

Gate Research: This report summarizes the key developments in the blockchain industry from March 24-28, 2025. Gate.io Wallet has officially integrated support for Berachain, enhancing both security and liquidity; PancakeSwap topped the weekly trading volume among DEXs, with a remarkable increase of over 40% in weekly volume; Berachain launched its PoL system, enabling liquidity-driven decentralized governance; Nillion Alpha went live on its mainnet, advancing the development of privacy-preserving infrastructure for Web3; PumpSwap recorded a daily trading volume exceeding $580 million, capturing 19.2% of the Solana ecosystem's market share; Hyperliquid experienced a manipulation attack, intensifying concerns over trust and security.

Gate Research: This week, Orochi Network, Wayfinder, InfiniFi, and OneFootball are spotlighted for giving users meaningful ways to dive into the Web3 ecosystem. Orochi Network is building a verifiable data infrastructure, rewarding users with $ON tokens, exclusive community roles, and special perks for completing tasks. Wayfinder, a blockchain-based AI agent framework, has committed 40% of its total token supply to community distribution, emphasizing user engagement from the start. InfiniFi, a decentralized finance protocol, encourages participation and sharing through a gamified points system. Meanwhile, OneFootball, a long-standing football media company, is preparing to launch its native token OFC, with current points program participants likely to qualify for future airdrops. All four projects are still in their early stages, offering users the chance to get involved early, shape the ecosystems, and potentially benefit from long-term rewards.

Gate Research Weekly Report: This week, BTC price showed an upward trend this week, reaching a high of $88,757. Hyperliquid faced a manipulation attack, intensifying trust concerns. Wyoming plans to launch its WYST stablecoin in July. Ethereum developers drafted EIP-7917 proposal. Aave lending rates dropped to 4% amid rising market caution. Berachain's TVL exceeded $3.4 billion, with Infrared emerging as a key growth driver. DeFi protocol Abracadabra suffered a $13 million exploit.

Gate Research (March 21 - 27, 2025): On March 21, Pump.fun launched its native DEX PumpSwap. On March 24, Plume token launched on Solana, promoting cross-chain liquidity for RWA assets. On March 25, Nillion Alpha mainnet went live, advancing Web3 privacy computing infrastructure. On March 26, Gate.io Wallet officially added support for Berachain, enhancing security and liquidity. The decentralized social payment protocol Celo has completed its migration to Ethereum Layer 2.