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Gate Research: On January 12, the crypto market continued its low-level recovery, showing a mild rebound while overall risk appetite remained cautious. BTC stabilized and reclaimed its short-term moving averages, signaling a partial repair in short-term structure, though upside momentum is still constrained by overhead resistance. ETH remained relatively resilient, maintaining a low-volatility recovery pattern and reflecting its role as a more defensive allocation within the market. On the thematic side, XCN, ARC, and VVV outperformed, driven by narratives around DeFi governance, AI agent tooling, and privacy-focused inference applications. From a structural perspective, the recent pullback in Bitcoin mining difficulty has eased pressure on the mining sector, while Ethereum recorded nearly USD 50 billion in net inflows over the past year, underscoring continued long-term capital accumulation in core assets amid market consolidation. However, the sustainability of the rebound will likely depend on a pickup in

Gate Research Daily Report: On January 12, the crypto market continued its low-level recovery, showing a mild rebound while overall risk appetite remained cautious. BTC stabilized and reclaimed its short-term moving averages, signaling a partial repair in short-term structure, though upside momentum is still constrained by overhead resistance. ETH remained relatively resilient, maintaining a low-volatility recovery pattern and reflecting its role as a more defensive allocation within the market. On the thematic side, XCN, ARC, and VVV outperformed, driven by narratives around DeFi governance, AI agent tooling, and privacy-focused inference applications. From a structural perspective, the recent pullback in Bitcoin mining difficulty has eased pressure on the mining sector, while Ethereum recorded nearly USD 50 billion in net inflows over the past year, underscoring continued long-term capital accumulation in core assets amid market consolidation. However, the sustainability of the rebound will likely depend on

Gate Research Daily Report: On January 9, BTC first extended its previous rally and surged rapidly, forming a short-term peak near 94,800 USDT. ETH also continued its earlier uptrend and pushed higher, topping out around 3,308 USDT, before bullish momentum weakened significantly and prices retreated from the highs, gradually developing into a relatively smooth downward move. Meanwhile, ISLM became the market’s standout performer with a gain of over 460%. On the macro and industry front, JPMorgan is accelerating its blockchain strategy and plans to build a “regulated, interoperable digital money” system. Hilbert Group announced the acquisition of Enigma Nordic for $25 million, further strengthening its institutional-grade crypto trading presence. In addition, a company linked to Tether executives drew market attention after acquiring Northern Data’s bitcoin mining business.

In December 2025, on-chain activity across public blockchains slowed and structural divergence deepened. Solana and Ethereum remained at the core of the ecosystem, while internal differentiation within Layer2 networks became more pronounced, as the market shifted from narrative-driven positioning toward efficiency and real-use-case selection. For Bitcoin, an assessment of cost basis distribution, unrealized loss supply, and holder structure indicates that the market is undergoing a cyclical pullback and rebalancing phase within a broader bull trend. While short-term pressure persists, long-term holders remain largely stable; if key cost support levels hold, prices may gradually recover following a period of consolidation. At the project level, trading volume in the BSC prediction-market sector continued to expand, but liquidity remained highly concentrated in Opinion, with newer platforms still in early validation stages. At the token level, $BEAT recorded a peak gain of nearly 300% during the period, driven

Gate Research Daily Report: On January 9, BTC first extended its previous rally and surged rapidly, forming a short-term peak near 94,800 USDT. ETH also continued its earlier uptrend and pushed higher, topping out around 3,308 USDT, before bullish momentum weakened significantly and prices retreated from the highs, gradually developing into a relatively smooth downward move. Meanwhile, ISLM became the market’s standout performer with a gain of over 460%. On the macro and industry front, JPMorgan is accelerating its blockchain strategy and plans to build a “regulated, interoperable digital money” system. Hilbert Group announced the acquisition of Enigma Nordic for $25 million, further strengthening its institutional-grade crypto trading presence. In addition, a company linked to Tether executives drew market attention after acquiring Northern Data’s bitcoin mining business.

Gate Research: BTC and ETH remain in a consolidation and recovery phase, with no confirmed trend reversal, while capital continues to rotate toward low-volatility assets and long-term narrative plays. Aave Horizon’s RWA market has surpassed $600 million in net deposits, signaling sustained institutional participation. Tokenized stocks have exceeded $1 billion in assets under management, underscoring the accelerating expansion of on-chain securities.

Gate Research Weekly Report: BTC and ETH remain in a consolidation and recovery phase, with no confirmed trend reversal, while capital continues to rotate toward low-volatility assets and long-term narrative plays. Aave Horizon’s RWA market has surpassed $600 million in net deposits, signaling sustained institutional participation. Tokenized stocks have exceeded $1 billion in assets under management, underscoring the accelerating expansion of on-chain securities. Nike has sold RTFKT, marking a phase-end unwind of its Web3 initiatives. Polymarket has introduced real estate prediction markets, further extending coverage into real-economy variables. Meanwhile, CONX, APT, and STRK are set to unlock approximately $25.23 million, $21.26 million, and $11.10 million in tokens, respectively, over the next seven days.

Gate Research: On January 7, the crypto market remained under pressure and traded in a consolidative manner, with risk appetite staying defensive. BTC pulled back from recent highs and moved into range-bound consolidation, with short-term momentum easing while the medium-term structure remains intact; ETH showed relatively resilient performance. On the thematic side, DSYNC, FHE, and XPLA posted strong gains, driven by narratives around AI agents, privacy computing, and Web3 gaming/IP co-creation. Structurally, new highs in Aave Horizon’s RWA borrowing, record Polygon PoS fee burns, and multiple Solana metrics reaching record levels in 2025 stand out as key fundamental positives, though the sustainability of the broader trend still depends on continued sentiment stabilization and the materialization of incremental catalysts.

Gate Research Daily Report: On January 7, the crypto market remained under pressure and traded in a consolidative manner, with risk appetite staying defensive. BTC pulled back from recent highs and moved into range-bound consolidation, with short-term momentum easing while the medium-term structure remains intact; ETH showed relatively resilient performance. On the thematic side, DSYNC, FHE, and XPLA posted strong gains, driven by narratives around AI agents, privacy computing, and Web3 gaming/IP co-creation. Structurally, new highs in Aave Horizon’s RWA borrowing, record Polygon PoS fee burns, and multiple Solana metrics reaching record levels in 2025 stand out as key fundamental positives, though the sustainability of the broader trend still depends on continued sentiment stabilization and the materialization of incremental catalysts.

Gate Research: BTC has stabilized again on the 4-hour timeframe, with a clear upside structure in place. Overall price action points to a mild and orderly recovery. ETH's catch-up move is gradually taking shape, with a noticeably steeper trend slope than BTC. Supported by returning capital inflows, its upside pace has continued to accelerate. Capital flows across public blockchains are showing clear divergence. More conservative, allocation-oriented capital is rotating back into core settlement layers, led by Ethereum. Base, as a user onboarding and asset distribution layer, is also seeing sustained net inflows. Polymarket Builders trading volume has reached a new all-time high, further strengthening the head effect. The increase in trading activity is mainly concentrated in a small number of mature tools, including betmoar.

Gate Research Daily Report: Bitcoin and Ethereum prices have broken higher toward the upper boundary of their medium- to long-term descending channels, sending relatively constructive technical signals. On January 5, Parcl partnered with prediction-market leader Polymarket to launch a real estate prediction market settled using the Parcl housing price index, driving PRCL up 84%. Ethereum’s exchange leverage ratio has recently climbed to around 0.76, a near-term high, reflecting stronger risk appetite and trader confidence. Solana spot ETFs recorded net inflows of $16.8 million, the largest single-day inflow since launch. Meanwhile, Giza’s AI Agent assets under management surpassed $40 million, posting more than 60% growth over the past month.

Gate Research: On January 5th, global markets enjoyed widespread gains, and the crypto market staged a solid overall rebound under the combined influence of the classic “January effect” and a broad repair in macro risk appetite. BTC led the rally, while ETH and major mainstream assets followed steadily in a market structure that remained relatively restrained and orderly. In the Solana ecosystem, the Meme sector showed clear signs of heating up again: PONKE surged sharply on renewed classic Meme narratives combined with capital rotation; MSQ strengthened driven by small-cap rebound dynamics and liquidity resets; WOLF attracted fresh capital attention amid a revival of the Matt Furie family narrative. On the news front, Infinex’s public sale fundraising has progressed far below expectations so far, underscoring the real-world constraints between project pricing and current community consensus. At the same time, Solana is poised to move forward with its Alpenglow consensus-layer upgrade in the near term, positi

Gate Research Daily Report: On January 5th, under the combined push of widespread gains across global markets and the classic January effect, the crypto market staged a broad recovery. BTC completed a high-level breakout and continued to show strong momentum, while ETH followed steadily but has not yet entered an independent acceleration phase. Overall market sentiment remained restrained, with the Fear & Greed Index still sitting firmly in the “Fear” zone. Intraday focus centered on the clear reheating of the Solana ecosystem’s Meme sector: PONKE, MSQ, and WOLF all posted substantial gains, driven by rotating narratives, typical small-cap rebound dynamics, and rising community sentiment. On the alpha side, Infinex’s public sale fundraising continues to fall well short of expectations, highlighting the growing divergence between current token issuance environments and actual market heat. At the same time, Solana is set to roll out its Alpenglow consensus-layer upgrade in the near term, further strengthening i

This report systematically traces the evolution of crypto wallets from private key management tools in the Bitcoin era to becoming the central gateway to on-chain finance. It reviews how successive waves — including DeFi Summer, inscriptions, memes, and on-chain derivatives — have continuously expanded the functional boundaries of wallets, driving their transformation from passive asset management tools into All-In-One on-chain platforms resembling CEXs. The report also analyzes the breakthroughs in wallet monetization across asset issuance, trading, and distribution scenarios.

Looking ahead to early 2026, with marginal improvements in macro liquidity and implied volatility (IV) at relatively low levels, the market may enter a high-level consolidation and accumulation phase. Should trading volume and realized volatility rebound in tandem, BTC and ETH could see a phase-wise upside breakout.