Macro Trends

Gate Research (2025.2.1-2025.2.7) – This report comprehensively analyzes the key dynamics in the cryptocurrency market and the broader macroeconomy. On February 1, the U.S. government announced new tariffs on imports from Mexico and Canada, leading to significant volatility in the cryptocurrency market. On February 3, former President Donald Trump agreed with the President of Mexico to suspend the anticipated tariffs immediately. On the same day, an Oklahoma state legislator proposed the Bitcoin Freedom Act, which is under review at the 60th legislative session. On February 5, Goldman Sachs and Wells Fargo predicted that the Federal Reserve would cut interest rates twice this year.

Gate Research Weekly Review & Outlook: This week BTC price entered a descending triangle pattern, ETH briefly dropped below $2,100 before entering a consolidation phase. The U.S. Senate Committee approved Howard Lutnick's nomination for Secretary of Commerce. FDIC released documents on crypto-related activity supervision. BTC mining difficulty increase led to decreased January production for most mining companies. Total stablecoin supply exceeded $220.9 billion. Storm Trade's TVL rose 26.77% over 7 days, reaching $33.96 million. The Ionic platform suffered a hack with $8.6 million stolen and security audit concerns emerged.

Building on Ethereum's 2024 developments, this article explores the Beam Chain proposal introduced by Justin Drake at Devcon, aiming to overhaul Ethereum's consensus layer by addressing MEV insights, leveraging SNARK advancements, and eliminating Beacon Chain's technical debt.

Gate Research Daily Report: On February 7, BTC price is facing key support around $96,000, and the short-term trend remains unclear. USDC Treasury minted 68.92 million USDC on Ethereum, increasing market liquidity. The $PAIN presale of 186,000 SOL has become one of the largest meme projects in Solana's history. The U.S. Congress is paying attention to cryptocurrency de-banking, with concerns raised over the FDIC's policy shift. Ondo Finance launched the Layer 1 public chain, Ondo Chain. In the past 24 hours, one project publicly announced securing financing, raising €1.1 million, focusing on the RWA (Real-World Assets) sector.

From the promises of AI-based financial independence to the practical utility of DeFAI, the space reflects the market’s broader shift toward functionality over fantasy.

The article highlights the market's blind pursuit of hype-driven projects while overlooking truly valuable ones by comparing high-market-cap assets like Ripple (XRP), Dogecoin (DOGE), Cardano (ADA), and TRUMP Token with fundamentally strong projects like Uniswap (UNI), AAVE, and Arbitrum (ARB), which have widespread real-world adoption.

Gate Research Daily Report: On July 18, BTC traded in a narrow range while ETH broke out to a new local high, leading the major assets. The U.S. House of Representatives passed three key crypto bills, including the GENIUS Act, advancing the formation of a comprehensive crypto regulatory framework. Meanwhile, CANARY filed for a Staked INJ ETF, and Russia’s Sberbank announced plans to offer crypto custody services. Gate Launchpool introduced the L2 project Eclipse, enabling BTC/ETH/ES staking for airdrop rewards.

Gate Research Daily Report: On July 21, BTC entered a phase of high-level pullback and consolidation. ETH remains in a strong upward channel, reaching a local high of around $3,780. Former President Trump signed the GENIUS Act, marking the enactment of the first U.S. federal regulatory framework for stablecoins. Abstract Chain surpassed 100 million on-chain transactions. Ethereum launched the “The Torch” NFT to commemorate its 10th anniversary, with minting open to the public on July 30.

Gate Research Daily Report: On July 22, the cryptocurrency market saw Bitcoin (BTC) exhibit a pattern of high-level volatility, finding support near $116,600 before rebounding, though it repeatedly failed to break through the $118,500 resistance level, indicating weakening upward momentum. Meanwhile, Ethereum (ETH) fluctuated around $3,800, briefly touching this level after breaking through $3,700, but failed to surpass the key resistance of $4,000, showing signs of short-term fatigue. On the corporate front, Nasdaq-listed Bit Origin announced its first purchase of Dogecoin (DOGE), totaling 40,543,745 coins, following its plan to establish an enterprise-level DOGE vault. Ethena Labs revealed a $360 million PIPE deal with StablecoinX, while its foundation launched a $260 million ENA public market buyback plan to bolster ENA reserves. Additionally, Bittensor ecosystem company xTAO announced its listing on Canada’s TSX Venture Exchange on July 23, with the stock code XTAO.U.

Gate Research Daily Report: On July 23, BTC consolidated at high levels, ETH continued its gradual uptrend with moderate momentum, and altcoins maintained structural rotation. 21Shares filed for an ONDO ETF, marking further progress in RWA compliance; Polygon’s stablecoin supply reached a three-year high, signaling steady capital inflows; and Sui ecosystem’s MPC coordination project Ika announced its mainnet launch on July 29. Gate Launchpool introduced the Solana ecosystem project NeonNeko, supporting GT/NEKO staking for airdrop rewards.

Gate Research Weekly Report: This week, Bitcoin (BTC) recorded a modest gain of 0.72%, facing resistance and consolidating at higher levels, while Ethereum (ETH) surged by 9.48%, significantly outperforming major altcoins. Bitcoin's annual transaction volume surpassed Visa for the first time, reaching $20 trillion. Ethereum's total lending volume broke through $300 billion, hitting a historical high. REX launched a Solana (SOL) staking ETF, with its assets under management exceeding $100 million within three weeks. The Bitcoin Layer 2 project Merlin initiated its 2.0 upgrade, aiming to create a "yield-generating, tradable" BTC. Crypto mining firm MARA plans to issue $850 million in convertible bonds to increase its BTC holdings. Goldman Sachs and BNY Mellon jointly introduced a tokenized money market fund solution on blockchain.

This report systematically reviews the current status and regulatory developments of the global stablecoin market, focusing on legislative trends in major economies such as the United States and Hong Kong since 2025. Currently, the global stablecoin market capitalization exceeds USD 260 billion, with over 170 million users worldwide, spreading across more than 80 countries and regions, making stablecoins an essential part of the digital financial infrastructure. In 2025, the United States passed the Genius Act and Clarity Act, while Hong Kong issued the Stablecoin Ordinance, marking the official entry of global stablecoins into a strongly regulated era.

Gate Research Daily Report: On July 25, BTC is currently testing the support level at 117,194.2 USDT; ETH is fluctuating between 3,673.33 USDT and 3,690.60 USDT. The WOO X platform was attacked, resulting in an estimated loss of $14 million, and the platform has promised full compensation to affected users. Resolv has activated its protocol fee mechanism, with a portion of profits being returned to RESOLV stakers. Anchorage Digital has partnered with Ethena Labs to launch the first GENIUS-compliant stablecoin, USDtb.

Gate Research Daily Report: On July 28, BTC fluctuated within the 117,000 to 120,000 USDT range, while ETH is currently in a short-term upward channel, with its price approaching the resistance zone around 3,900 USDT. Over the past seven days, Ethereum-based NFT sales totaled nearly $160 million, with CryptoPunks ranking first. Decentralized prover network Succinct has launched the Succinct Foundation, potentially in preparation for a token TGE. Meanwhile, lending platform Divine Research is using World ID to verify borrowers for issuing unsecured crypto loans.

The article details the company’s struggle for survival through financial crises, declining content quality, and a complicated internal governance structure. It also shares the author’s perspective as CEO on making strategic adjustments, reorganizing the team, and negotiating with investors.