Research

Gate Research: This weekly report covers key blockchain industry developments from April 3-10, 2025. Highlights include: Shardeum's upcoming mainnet launch on April 15; Solana reaching its highest Total Value Locked (TVL) since 2023 with strong DEX market performance; the official launch of Lens Protocol's mainnet Lens Chain; Mantra's new $108 million fund to accelerate real-world asset tokenization and DeFi project development; Bitcoin's hashrate exceeding 1 Zetahash for the first time, marking a 1000x infrastructure advancement; and Babylon's launch of their Layer 1 blockchain, Babylon Genesis, on April 10.

Gate Research: This week, FogoChain, Hyperlane, CESS Network, Gomble Games, and Krain AI present new opportunities for users to engage with the Web3 ecosystem. FogoChain is built on the Solana Virtual Machine and enhances transaction performance through the Firedancer client and multi-consensus mechanisms, with a points campaign now launched. Hyperlane supports cross-chain communication with a modular security architecture, and users can claim an airdrop of its native token HYPER. CESS is building a decentralized storage network using CD²N and PReT technologies, with points available through social tasks. Gomble, as a Web3 casual gaming platform, offers eligibility for GM token airdrops to users who complete a quiz. Krain AI is a platform focused on the AI agent ecosystem and has launched a points campaign with tokens to be redeemed in the future.

Gate Research Report: From March 27 to April 10, ETH showed greater price volatility than BTC. BTC's long/short ratio rebounded early but remained below monthly highs, indicating limited confidence recovery. Average daily liquidations surged to $380 million — up 90% from the previous period. Over 5 million BTC are currently held at a loss, nearing historical bottom levels. Some tokens saw trading volume spike during panic selling and formed classic 'volume-led recovery' patterns.

Gate Research Daily Report: On April 10, Bitcoin fell to $79,733 and Ethereum to $1,535. Gate.com released its Q1 2025 report. Trump repealed crypto tax rules, marking the first official crypto legislation. Tokenized gold trading volume hit a two-year high. AVAX may gain mainstream ETF access, and top altcoins XCN, AERGO, and ZRC posted notable gains.

Gate Research Daily Report: April 14, Bitcoin declined to $84,514, while Ethereum fell to $1,619. Despite the broader market pullback, on-chain activity remains strong, with Ethereum setting a new record by processing $1.18 trillion in stablecoin transfers over the past 30 days—highlighting continued capital flow and user engagement. In contrast, the NFT market continues to shrink, as both trading volumes and active user numbers have declined sharply. The SEC has proposed a new crypto regulatory sandbox, signaling a potential shift toward more flexible and innovation-friendly policymaking. At the same time, Pump.fun has seen its daily trading volume collapse by 99%, and its token "graduation rate" has slowed significantly, reflecting a cooling of speculative fervor on the Solana network. Amid these developments, Gate.com has announced a major brand revamp, unveiling its new Chinese name "Damen" (meaning "The Gate"), which represents its commitment to embracing the next wave of growth in the Web3 era.

Over the past week, markets were primarily driven by the escalation of the US Iran conflict. WTI crude rose nearly 17% and returned above the $100 level, pushing US Treasury yields higher, with the 10 year reaching 4.44%, while the US dollar strengthened. The crypto market declined by more than 6% overall, and the VIX climbed to 31. On the capital side, BTC and ETH ETFs recorded about $500 million in net outflows mid week, followed by a modest rebound.

Over the past week, global markets entered a risk-off phase, driven by hawkish Fed expectations and escalating geopolitical tensions. Climbing US Treasury yields weighed on risk asset valuations. Gold and silver, after strong rallies, each saw corrections of more than 10%. The crypto market weakened in parallel, with BTC dropping below $70,000. Meanwhile, crude oil held firm amid expectations of potential supply shocks, and energy factors continued to disrupt the inflation outlook. On the capital front, both BTC and ETH ETFs recorded net outflows, reflecting a slowdown in short-term capital inflows. Nevertheless, total AUM remained at elevated levels, as long-term allocation capital has not exited the market. On-chain, DEX liquidity became increasingly concentrated in leading and highly efficient protocols, with Meteora’s rapid ascent reshaping trading dynamics. Marginal growth in stablecoin supply stemmed from protocol-based assets, and DeFi credit demand shifted primarily back to stablecoin arbitrage and

Gate Research Daily Report: April 15, Bitcoin at $85,284, Ethereum at $1,641.76. Digital asset funds see $7.2B in 3-week outflows. Canada to launch first Solana spot ETFs with staking. Ethereum leads Q1 dApp revenue with over $1B. Bitcoin implied volatility surges as markets remain uncertain on trade policy. JPMorgan launches GBP blockchain accounts to expand global settlement capabilities.

Gate Research Daily Report: On April 1, BTC rebounded and consolidated above $68,000, ETH recovered above $2,100, and GT traded in a narrow range near $6.59. Mid-cap and small-cap tokens remained active, with StakeStone, saffron.finance, and KernelDao leading gains. Meanwhile, Google’s latest quantum computing breakthrough rekindled debate over Bitcoin security, stablecoin infrastructure drew fresh investor attention after a new funding round, and the regulatory boundaries of the Clarity Act continued to spark industry discussion.

Gate Research Daily: On Apr. 1, BTC rebounded above $68,000 and entered a consolidation phase. ETH climbed back above $2,100, while GT held steady in a tight range near $6.59. Mid- and small-cap tokens remained active, with StakeStone, saffron.finance, and KernelDao leading in rise %. At the same time, Google's quantum computing breakthrough sparked renewed debate over Bitcoin's security. The stablecoin infrastructure sector attracted fresh investment attention, and the regulatory boundaries of the Clarity Act continued to be a major topic within the industry.

Gate Research Daily Report: April 16, The crypto market remained in a choppy trading range today, with Bitcoin slipping 1.54% to $83,782 and Ethereum falling 1.97% to $1,603.38. TRON reported a record-setting $760 million in Q1 revenue, signaling continued strength in on-chain activity and its stablecoin ecosystem. DeFi lending demand surged significantly, while centralized crypto lending (CeFi) saw a steep 68% decline from its 2022 peak, further highlighting the shift toward decentralized finance. On Solana, PumpSwap hit a new all-time high in daily trading volume, driven by a sharp rise in user engagement and transaction activity. Meanwhile, Polygon introduced AggLayer, a cross-chain value aggregation layer aimed at building a new paradigm for an "Internet of Value" across blockchain networks. Solana also upgraded its network by raising the per-block compute limit, boosting performance and continuing its push for scalability.

Gate Research highlights elevated implied volatility across crypto and traditional asset options, with BTC and ETH IV still near the 80th percentile range, while gold puts remain richly priced. Gate also announced the launch of Gold and Crude Oil Options, expanding its multi-asset options trading offering.

This report focuses on three key segments—mining rig manufacturing, self-operated mining farms, and cloud mining. It provides a comprehensive review of global mining landscape shifts by analyzing supply chains, cost structures, geopolitical transitions, and stock performance. The report also evaluates how policy shocks feed back into Bitcoin’s medium- to long-term price structure.

Gate Research (April 11 – 17, 2025) : This report provides a comprehensive analysis of key developments in the cryptocurrency market and macroeconomic landscape. On April 11, U.S. March PPI came in at 2.7% year-over-year, falling short of both the expected 3.3% and the previous reading of 3.2%. On April 14, the SEC held its second crypto roundtable and announced plans to launch a "crypto regulatory sandbox." On April 15, Canada is set to debut its first spot Solana ETFs, which will allow staking for yield generation. On April 16, it was revealed that only 11% of registered Bitcoin companies in El Salvador are currently operational. On April 17, Federal Reserve Chair Jerome Powell delivered hawkish remarks, indicating that economic policy remains unclear and that crypto regulations may ease. On the same day, Panama approved the use of cryptocurrency for payments in government institutions, becoming the first public authority globally to do so.

Gate Research (April 11–17, 2025): April 14, Solana raises block computation limit and upgrades network performance. April 15, EigenLayer launches mainnet slashing. April 16, Polygon’s AggLayer builds a “value internet.” April 17, Sony Soneium and EigenLayer slash blockchain finality time by 98%, setting a new L2 benchmark.