Topics of Crypto World

Weekly Report Date: October 27, 2025; Important Notice: The opinions and information herein are for reference only and do not constitute investment advice for any individual; Strategy Recommendation: BTC Bullish Calendar Spread.

Last week, H surged over 122.50%, emerging as the top-performing token. VIRTUAL and ZEC also recorded gains of 102.60% and 54.69%, respectively, rising against the short-term market trend. Arbitrum has remained in the top position for multiple consecutive weeks, with a weekly net inflow of $221 million, far exceeding other public blockchains. The x402 protocol saw a record high of 932,400 transactions in a single week. Gate Web3 has announced the launch of a dedicated "x402 Protocol Zone", initially covering 10 popular tokens from the x402 ecosystem. Market data and trading features are now fully available.

Surging from around $54 to approximately $372 within a month, Zcash (ZEC) achieved a sixfold increase, surpassing its 2021 peak. The analysis points out that this rally was primarily driven by expectations of a tokenomics halving, a resurgence of privacy narratives, and support from prominent investors. However, on-chain usage has not significantly improved, genuine demand remains unverified, and the risk of a speculative bubble warrants caution.

This article provides an in-depth analysis of Coinbase's AI agent payment protocol x402, exploring how it has evolved from a "hype concept" into genuine infrastructure, and has been adopted by industry giants like Cloudflare, Google Cloud, and Anthropic. The article examines x402's technical logic, ecosystem expansion, and potential bottlenecks, assessing whether it could become blockchain's second global-scale application after stablecoins.

This article offers a comprehensive examination of the competitive and symbiotic relationship between Bitcoin and tokenized gold, tracing the shift from "trustless algorithmic consensus" to a "re-trust model based on institutional credit" to explore which asset truly deserves the title of "digital gold." It thoroughly analyzes the evolution of the BTC narrative, the ascent of Tether Gold, and how the RWA movement is transforming both the financial characteristics of gold and its value within the on-chain ecosystem.

The article details how Deshare 2.0 accelerates large-scale adoption of DePIN and RWA by leveraging hardware-level on-chain capabilities and a three-tier product architecture. It also thoroughly introduces the core functions and real-world applications of Deshare Protocol, Deshare Toolkit, and Deshare Suite.

The article examines the architectural innovations of the Percolator sharded perpetual contract protocol framework, and also discusses the significant attention and support Solana Labs has dedicated to Perp Dex, along with Solana’s continued commitment to performance optimization.

The article, from the perspective of natural selection, provides a detailed analysis of the application and competition of AI in various fields, such as finance, sports prediction, and market forecasting, demonstrating how AI rapidly evolves through competition.

Gate Research Daily Report: On October 29, the crypto market experienced a broad pullback, with major assets under pressure. BTC fell 0.29%, retreating from above $116,000 to around $112,000, while ETH slipped 0.11%, maintaining a high-level consolidation pattern. Capital flows shifted toward the infrastructure and application innovation sectors — Pi Network (+16.77%) surged following a KYC expansion that spurred short-term inflows; APRO Token (+22.73%) rallied on optimism surrounding its “Oracle 3.0” update and new ecosystem plan; and Puffer (+29.82%) gained traction as its UniFi AVS launch positioned it at the forefront of Ethereum scalability development. Meanwhile, t54.ai introduced x402-secure, establishing a programmable trust and verification framework for the agent ecosystem; Visa expanded its stablecoin support network, with quarterly crypto payment volumes rising fourfold year-over-year; and Tether Gold’s market value surpassed $2.1 billion, which — together with PAX Gold — now accounts for nearly 9

On October 29, the crypto market experienced a broad pullback, with major assets under pressure. BTC fell 0.29%, retreating from above $116,000 to around $112,000, while ETH slipped 0.11%, maintaining a high-level consolidation pattern. Capital flows shifted toward the infrastructure and application innovation sectors — Pi Network (+16.77%) surged following a KYC expansion that spurred short-term inflows; APRO Token (+22.73%) rallied on optimism surrounding its “Oracle 3.0” update and new ecosystem plan; and Puffer (+29.82%) gained traction as its UniFi AVS launch positioned it at the forefront of Ethereum scalability development. Meanwhile, t54.ai introduced x402-secure, establishing a programmable trust and verification framework for the agent ecosystem; Visa expanded its stablecoin support network, with quarterly crypto payment volumes rising fourfold year-over-year; and Tether Gold’s market value surpassed $2.1 billion, which — together with PAX Gold — now accounts for nearly 90% of the $3.7 billion token

The article, through an analysis of Ostium platform's trading data, points out the current weak demand for stock perpetual contracts and explores underlying reasons such as audience mismatch and infrastructure limitations.

The article also provides numerous professional query platforms and detailed operational steps, which can help novice investors avoid blindly following trends and reduce investment risks.

The article also presents several innovative use cases, such as gas-free user experiences, the x402 browser, and on-chain marketplaces. These concepts not only demonstrate strong foresight and inspiration but also offer valuable references for developers and professionals in related fields.

This article provides a systematic review of the x402 protocol’s ecosystem changes in the week following the explosive popularity of $PING, analyzing why it did not become a short-lived phenomenon. It highlights that x402’s sustained momentum is driven by support from Coinbase, a distinctive narrative that integrates AI with payment scenarios, and a capital migration trend from meme tokens to real-world applications. Proactive expansion across multiple chains has also established a solid foundation for x402’s long-term growth.

The article proposes a novel perspective: the crypto world is actually divided into two systems - "narrative-driven" and "utility-driven." The former is propelled by stories and visions, such as Bitcoin, AI x Crypto, and x402; while the latter centers around real-world use cases and yields, like stablecoins, wallets, and exchanges. The author provides an in-depth analysis of the logic and interaction between these two systems, offering builders and traders a framework for making trade-offs and identifying arbitrage opportunities between narratives and practical applications.