Gate Research Institute: Bitcoin's market capitalization surpasses Amazon to rank sixth globally | ZKJ rises 79.47% in a day, attracting follow

Encryption Asset Panorama

BTC (1.64% | Current Price 121,248 USDT)

The price of BTC has experienced a strong surge after a period of consolidation, currently breaking through the $121,200 mark and reaching a new high of $121,260.3 in this round of increase. The short-term moving averages (MA5, MA10) have clearly turned upwards and are in a bullish arrangement, with the price significantly above MA30, indicating ample short-term bullish momentum. The large bullish candlestick indicates a concentrated outbreak of buying power, and if it can remain steadily above $121,000 in the short term, it is expected to continue the upward trend. However, attention should be paid to the risks of short-term overbought conditions and profit-taking at high levels. If the price falls below the $120,000 mark and trading volume shrinks, a technical correction may occur to restore the indicators. Overall, the trend is strong, but chasing longs requires controlling the pace and risk.

In addition, on August 8, the net inflow of BTC ETF reached $403 million in a single day, with BlackRock's IBIT inflow of $360 million and Fidelity's FBTC inflow of $30.5 million, indicating that institutional funds are continuously increasing their positions in Bitcoin, enhancing the allocation weight of this asset.

ETH (1.98% | Current Price 4,305 USDT)

The price of ETH has regained its upward momentum after a brief correction, currently breaking through the resistance level of $4,349.81, closing at $4,305, continuing the overall bullish pattern. The short-term moving averages (MA5, MA10) have once again crossed upwards and maintained a bullish arrangement, with the price also staying above MA30, indicating that the medium to short-term trend remains healthy. Recently, it has repeatedly found support in the $4,250-$4,260 range, showing that buying pressure is relatively stable. If it can stabilize above $4,300, it is expected to further challenge the $4,400 mark. However, it is important to note that the short-term price is approaching previous high levels, and if the trading volume is insufficient, a technical correction may occur after a brief surge. Overall, ETH maintains a strong oscillating trend, and it is important to pay attention to the support levels during any pullbacks.

In addition, on August 8, the net inflow of ETH ETF was $461 million in a single day, of which BlackRock's ETHA saw an inflow of $254 million, and Fidelity's FETH saw an inflow of $132 million.

GT (0.08% | Current Price 16.96 USDT)

The recent price of GT has shown a significant rebound after finding support around 16.40 USD, currently rising to the 16.96 USD line. The short-term moving averages (MA5, MA10) have shown signs of turning upward and are expected to form a golden cross in the short term, providing some support for the price; MA30, however, remains relatively flat, indicating that the medium-term trend is still in a consolidation pattern. Overall, the trend exhibits characteristics of range-bound oscillation, with clear resistance above 17.00 USD. If it can break through this level with increased volume, there is a chance to challenge the previous high of 17.24 USD; conversely, if the volume is insufficient, the price may oscillate between 16.80-17.00 USD. In short-term operations, attention should be paid to the effectiveness of support around 16.85 USD.

Daily Price Change Rate Tokens

Most tokens continue to experience a strong upward trend, with market sentiment high and the activity level of funds significantly increased. ZKJ leads the pack with an impressive rise of 79.47%, becoming the focus of attention. Additionally, tokens such as XNY, JUV, AVA AI, DOLO, and INSP have also recorded increases of over 20% and even 30%, demonstrating the strong market enthusiasm and capital pursuit.

ZKJ Polyhedra Network (+77.01%, circulating market cap 108 million USD)

According to Gate's market data, the current price of the ZKJ token is 0.31067 dollars, with an increase of approximately 77.01% in the last 24 hours. Polyhedra Network (ZKJ) is a platform that utilizes zero-knowledge proof (ZKP) technology, dedicated to promoting interoperability, scalability, and privacy in Web3. Its goal is to bridge the gaps between different blockchain networks, protocols, and systems to achieve seamless communication and collaboration across Web3.

The overall Ethereum ecosystem is strengthening, and Polyhedra has seen significant growth against this backdrop, driven primarily by its collaboration with Google Cloud and a series of strategic deployments. On August 9th, the project team announced the launch of zkGPT—a system capable of proving the correct execution of large language model inference results without exposing model information. This innovative narrative has significantly increased market attention. Starting from August 10th, the price of ZKJ surged rapidly from a low of about $0.15, reaching a maximum of $0.36588, during which there was a significant increase in trading volume, reflecting concentrated capital inflow and strong bullish sentiment.

LDO Lido (+14.05%, circulating market cap 1.331 billion USD)

According to Gate's market data, the current price of the LDO token is 1.4889 USD, reflecting a 14.05% increase in the last 24 hours. Lido is a decentralized liquid staking protocol that allows users to stake tokens without locking up their assets and participate in other DeFi (decentralized finance) protocols. Lido maintains the liquidity of assets for users by issuing tradable staking certificate tokens (such as stETH for Ethereum) while they stake.

The logic behind this round of price increase mainly comes from both macro and micro aspects: On the macro level, the advancement of staking ETFs and clear related regulations bring long-term benefits to the liquidity staking sector; on the micro level, the recently discussed LDO repurchase plan may become a direct driver for short-term price increases. On August 7, Lido community member Kuzmich proposed a draft for the "LDO Repurchase Plan" in the governance forum, pointing out that the Lido treasury currently holds about $145 million in liquid assets, but these assets do not generate income for the protocol. The expectation of a repurchase has raised the market's reevaluation of the token's value, accelerating the inflow of funds.

ENA Ethena (+11.56%, circulating market cap 5.485 billion USD)

According to Gate's market data, the current price of the ENA token is $0.8324, having risen approximately 11.56% in the last 24 hours. Ethena is a decentralized stablecoin protocol, with its core product being the synthetic asset USDe pegged to the US dollar. Its operating mechanism combines spot staking with perpetual contract short positions to achieve a market-neutral strategy of "cash equivalents + derivative hedging."

The significant rise in ETH has driven a comprehensive strengthening of its ecosystem, with Ethena's $USDe surpassing a market capitalization of 10 billion USD in just 500 days, becoming a focal point of investor attention. Driven by this, the ENA price has steadily climbed from a bottom around 0.55 USD, accelerating its rise from August 9 to 11, peaking at 0.8357 USD. The market is operating within a clear ascending channel, with each pullback quickly rebounding, reflecting the continuous influx of bullish funds and strong market sentiment.

Daily New Investment

IPO details

Subscription Project: Baby Shark Universe

Token Name: BSU

New subscription period: until August 16, 2025, 18:00 (UTC+8)

Participation method: Stake BTC, BSU to receive for free.

Total airdrop amount: 1,019,541 BSU

Project Introduction

Baby Shark Universe (BSU) is a hybrid entertainment platform that relies on the globally recognized "Baby Shark" IP, bridging Web2 and Web3. Aimed at popularizing to the public, BSU is building a family-friendly ecosystem that encompasses gaming, NFTs, and metaverse experiences. The project has partnered with leading NFT series such as Pudgy Penguins and Lil Pudgys for co-branding collaborations, achieving multiple sell-outs and demonstrating strong market appeal and community trust.

Hotspot Interpretation

Solana ecosystem meme coin launch platform BAGS seven-day income surpasses letsBonk.fun

According to Defillama data, the Meme coin launch platform BAGS in the Solana ecosystem has shown outstanding revenue performance over the past seven days, successfully surpassing the well-known platform letsBonk.fun, becoming the second highest revenue platform in the Solana ecosystem, only behind pump.fun. This achievement highlights the rapid rise of BAGS in the Solana Meme coin market and the increasing recognition from users.

The BAGS platform has achieved revenue surpassing letsBonk.fun in a short period, demonstrating its strong competitiveness and market appeal in the Solana Meme coin issuance sector. Meme coins, as community-driven light asset innovation projects, often come with higher volatility and speculation. The rapid growth of BAGS reflects the market's enthusiasm for emerging social and entertainment-oriented encryption assets. As the Solana ecosystem continues to improve, how to ensure user safety and compliance while continuously optimizing user experience will be key to the future development of BAGS and similar platforms. Investors should also be aware of the high-risk characteristics of the Meme coin market and participate rationally.

Bitcoin's market value surpasses Amazon to rank sixth, and the total market value of encryption currencies exceeds 4.1 trillion dollars, setting a new high.

According to 8market data, Bitcoin's market capitalization has exceeded $2.45 trillion, successfully surpassing Amazon to become the sixth largest asset in the world, highlighting its status and influence as digital gold. At the same time, the total market capitalization of the overall encryption currency market has surpassed $4.1 trillion, setting a new historical record, with a 2.5% increase in the last 24 hours, demonstrating the strong vitality of the market and the rising confidence of investors.

Bitcoin's market value surpassing that of traditional giant Amazon marks a gradual recognition of encryption assets by mainstream capital markets, with the value storage function of its digital assets becoming increasingly prominent. The overall market capitalization of encryption continues to rise, reflecting investors' high expectations for the future development of blockchain technology and the encryption ecosystem. However, as the market capitalization expands, market volatility and regulatory pressure may also intensify, so investors should remain rational and cautious. In the future, whether Bitcoin and the entire encryption market can sustain steady growth will still depend on changes in technological innovation, policy environment, and institutional participation.

LayerZero Foundation proposes to acquire StarGate cross-chain bridge and its token STG for $110 million.

The LayerZero Foundation proposed to acquire the StarGate cross-chain bridge and its governance token STG for $110 million. According to the acquisition plan, the STG tokens will be deprecated, and holders can exchange 1 STG for 0.08634 LayerZero native token ZRO, which equates to approximately $0.1675 per STG, while the price of ZRO is about $1.94. After the acquisition is completed, StarGate will be integrated into the LayerZero Foundation, and the StarGate DAO will also be dissolved. The officials stated that this move aims to accelerate the collaborative development of StarGate and LayerZero, leveraging LayerZero's resources to promote the expansion of the StarGate ecosystem, deepen the functional layout beyond the cross-chain bridge business, and enhance the overall experience and value circulation for users within the LayerZero ecosystem.

This acquisition of $110 million not only demonstrates LayerZero's high regard for cross-chain infrastructure but also reflects the important strategic position of cross-chain bridge technology as the core of multi-chain interoperability. By integrating StarGate, LayerZero is expected to achieve closer collaboration and resource sharing between protocols, enhancing technical capabilities and ecological vitality, and promoting the unification and optimization of the cross-chain experience. For STG holders, while token exchanges may bring short-term adjustments, there are long-term opportunities to gain greater value leveraging LayerZero's development potential. Overall, this acquisition strengthens LayerZero's competitiveness in the multi-chain ecosystem and lays a solid foundation for future innovation and commercialization of cross-chain protocols.
Reference Materials:

• Gate, https://www.gate.com/trade/BTC_USDT
• Farside Investors, https://farside.co.uk/btc/
• Gate, https://www.gate.com/trade/ETH_USDT
• Farside Investors, https://farside.co.uk/eth/
• Gate, https://www.gate.com/trade/GT_USDT
• Gate, https://www.gate.com/price
• Gate, https://www.gate.com/launchpool/BSU?pid=355
• Defillama, https://defillama.com/revenue/chain/solana
• 8market, https://8marketcap.com/
• The Block, https://www.theblock.co/post/366246/layerzero-foundation-proposes-110-million-acquisition-of-stargate-bridge-as-token-struggles

Disclaimer Investing in the cryptocurrency market involves high risks. Users are advised to conduct independent research and fully understand the nature of the assets and products they are purchasing before making any investment decisions. Gate shall not be liable for any losses or damages arising from such investment decisions.