Macro Trends

This article analyzes the rise of the application layer in the blockchain industry, challenging the common belief that there is a lack of applications and progress. It points out that many applications are now generating more revenue than infrastructure projects and are growing at a significant pace. The article also explores the emergence of "fat applications," the future of modularity, and the shift in blockchain value capture, signaling the arrival of the application era and the true monetary value of blockchain-native assets.

This article reflects on the 2008 financial crisis, emphasizing the dangers of excessive leverage, insufficient liquidity, and a lack of transparency in financial markets.

Gate Research Weekly Report: This week, the crypto market showed strong performance, with BTC and ETH both rising about 7%. Bitcoin spot ETF net inflows reached $926 million, while Ethereum spot ETFs also maintained positive inflows. World Liberty Financial's sales hit $12.51 million. Horizon partnered with China Merchants Securities (HK) to launch a virtual asset ETF market-making solution. Symbiosis teamed up with Avail to promote innovation in a unified Web3 framework. Radiant Capital suspended its lending market after a vulnerability exploit, leading to an estimated loss of $58 million.The GOAT meme coin surged 3,000 times within a week of its launch.

Gate Research Daily Report (October 16): After BTC approached $68,000, its price quickly retraced, resulting in a "double liquidation" scenario affecting both long and short positions. Bitcoin spot ETFs saw a total net inflow of $371 million, while Ethereum spot ETFs had a net outflow of $12.7 million. Grayscale applied to the U.S. SEC to convert its mixed crypto fund, which includes BTC, ETH, and SOL, into an ETF. Ripple announced its global distribution partners for Ripple USD. Celestia activated the Shwap upgrade for its DA network on the testnet, with plans to enter the mainnet beta phase in November. Puffer Finance has opened claims for its first-season airdrop, with the second season currently in progress.

This article analyzes the rise of Memecoins in the cryptocurrency market and their impact on society. It discusses how Memecoins provide fair wealth creation opportunities for a wider group of people, and how they challenge the high entry barriers of traditional financial systems. The article also presents thoughts on modern financial regulation and explores how the Memecoin phenomenon can be used to find solutions for improving the economic system.

Gate Research Daily Report (October 15):The crypto market performed strongly, with BTC surpassing $66,000 and ETH standing above $2,630, reflecting a significant increase in buying sentiment. Spot ETFs for Bitcoin and Ethereum in the U.S. recorded net inflows of $556 million and $17.07 million, respectively, indicating a revival of investor confidence. The Fear and Greed Index rose from 48 to 65, signaling a shift in market sentiment toward greed. Currently, 91% of BTC addresses and 66% of ETH addresses are in profit. Over the past week, crypto asset investment products saw inflows of $407 million, with multi-asset products attracting capital for the 17th consecutive week. Additionally, Puffer’s Total Value Locked (TVL) surged to $1.4 billion, with its token price increasing by 95% within 24 hours.

We have many precedents and inspirations to understand moats in traditional markets, but we lack a corresponding framework to explain the structural differences in crypto applications. This article aims to bridge this gap by gaining an in-depth understanding of the fundamental elements that constitute a sustainable moat and identifying a few applications that can sustainably capture value.

Gate Research Daily Report(October 14) : BTC price rose 1.84% in the past 24 hours. On October 11, the total net inflow for U.S. Bitcoin spot ETFs reached $254 million. Base network’s trading volume surged, accounting for 40% to 60% of the combined volume across Arbitrum, Base, and Optimism. USDT (ERC-20) balance on exchanges increased by 152.38% to $22.4 billion, setting a new all-time high. Raydium’s average daily trading volume in October exceeded $1.017 billion. Gate Ventures and Boon Ventures announced a partnership with Movement Labs to establish a new $20 million fund to foster the growth of the Move ecosystem.

From an economic perspective, interest rate hikes directly reduce market liquidity and indirectly lower investors' risk appetite, leading to a deleveraging effect in the market. These factors contribute to long-term declines in asset prices. Conversely, interest rate cuts increase market liquidity, encourage investors to pursue riskier investments, boost leverage, and drive up asset prices. The same applies to the cryptocurrency market. This article will review BTC's performance during different monetary policy periods to reflect the impact of interest rate hikes and cuts on cryptocurrencies.

Real-world asset (RWA) tokenization is an emerging concept that traces back to the advent of blockchain technology. Read how RWA tokenization increases accessibility, promotes financial inclusion and democratizes investment opportunities across various sectors.

Gate Research Daily Report: October 8, BTC faced resistance and experienced a pullback, with trading volume weakening. Despite the short-term correction, the overall trend has not significantly reversed. The U.S. Bitcoin spot ETF saw a net inflow of $235 million, while the Ethereum ETF had no net inflow. In Q3, 29 projects within the Solana ecosystem raised $173 million, the highest level since Q2 2022. Premier League clubs have secured nearly £130 million in sponsorship deals with crypto companies in 2024, marking a 30% year-on-year growth. HBO has released a documentary titled Money Electric: The Bitcoin Mystery, investigating the identity of Bitcoin’s creator. An official from the European Central Bank has proposed the creation of a unified digital asset ledger to promote financial integration and improve efficiency. The Arbitrum Foundation recently announced the launch of the "Road to Devcon" initiative, focusing on increasing investment and attention in the Asian market.

Gate Research Monthly Review: The crypto market performed weakly in August. Bitcoin plummeted from $66,000 to $49,000, then rallied to $64,000 by month's end before pulling back. Global financial markets saw intense volatility due to macroeconomic factors, pushing BTC futures liquidations to a yearly peak. BTC and ETH ETFs both experienced net outflows, while blockchain network activity ramped up—notably, Aptos' trading volume skyrocketed. The DeFi sector weathered multiple security breaches, incurring losses over $5.28 million. On the funding front, 88 projects secured financing totaling $80 million, with CeFi and DeFi emerging as standout sectors.

Gate Research Daily Report: September 29, BTC and ETH experienced slight pullbacks, dropping by 0.62% and 0.83% over 24 hours, respectively. If they break through resistance levels, further gains are possible. U.S. Bitcoin and Ethereum spot ETFs saw net inflows of $494.2 million and $58.65 million, respectively, with Bitcoin spot ETFs marking their seventh consecutive day of net inflows. BlackRock's Ethereum ETF assets have surpassed $1 billion. Over the past week, USDC circulation increased by approximately 700 million tokens, bringing the total circulation to 36.2 billion tokens. Additionally, 68% of ETH addresses are now in a profitable position.

The 2024 Asia Blockchain Summit (ABS) is a significant event in the global blockchain and Web3 field, attracting over 13,000 participants, including blockchain industry leaders from more than 30 countries. This summit not only discusses blockchain applications in finance and voting systems but also showcases innovative applications from Web2 giants like ASUS and FamilyMart convenience stores. Additionally, public chains such as Solana and TON introduced their technological developments and innovation trends. ABS provides participants with opportunities for in-depth exchanges and promotes the growth and cooperation of the global blockchain ecosystem while demonstrating the integration of traditional and emerging technologies.

Gate Research Daily Report: September 27, BTC and ETH performed strongly, rising by 3.19% and 2.01% respectively over the past 24 hours. BTC is currently testing the $66,000 resistance level. The U.S. Bitcoin spot ETF saw a net inflow of $366 million yesterday, while the U.S. Ethereum spot ETF experienced a net outflow of $680,000. Most altcoins outperformed the broader market, with notable gains in the Cross-chain Communication, BRC-20, and Doge meme sectors. Avalanche launched a $40 million grant program, paving the way for the "Avalanche9000" upgrade. In the past 24 hours, only one project in the DEPIN (Decentralized Physical Infrastructure Networks) sector announced a funding round, raising $10.8 million.