Gate Research Institute: PYTH has risen nearly 50% this week, with the Story Protocol's $82 million buyback boosting the token's rise by over 30% | Gate VIP Weekly Report

Highlights of Last Week's Market Overview

• Alpha Mining: BTC continues to operate within a descending channel, with the price center gradually moving downwards; ETH continues to operate within an ascending channel, bouncing back after receiving support around 4,250. As for altcoins, Pyth Network (PYTH) has seen a price increase of 48.58% due to its collaboration with the Ministry of Commerce; Story Protocol (IP) surged by 33.63% due to large-scale token buybacks and the launch of a new exchange.
• On-chain funds: Ethereum's on-chain data has shown significant strength, with a net capital inflow reaching 1.6 billion USD, far ahead of other public chains. Its monthly on-chain transfer volume surpassed 320 billion USD, and DEX trading volume set a historical record. In addition, macroeconomic data being brought on-chain became a popular narrative last week, igniting the imagination around oracle and DeFi.

This report will conduct an in-depth analysis of the above trends and provide detailed market data and technical interpretations. You are welcome to click to view the full report, accurately grasp market dynamics, obtain forward-looking strategic perspectives, and explore the next round of potential opportunities.

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