Crypto Market Overview

BTC (0.30% | Current Price: 110,828 USDT)

Recently, BTC has been consolidating around the $110,000 level. Short-term moving averages (MA5 and MA10) are closely aligned with the price, indicating a temporary balance between bulls and bears. The current price remains below MA30 ($113,680), suggesting that the medium-term trend is still weak and the market is in a corrective phase.

Structurally, BTC experienced an uptrend from July to early August, reaching a high of $124,497 before pulling back to a low of $98,200, maintaining a broad $98,000–$124,000 trading range. The price is now consolidating near the middle of this range, with decreasing volume, reflecting a period of market indecision.

A successful breakout above $113,500 (near MA30) could restart the upward momentum, targeting the $117,000–$124,000 resistance zone. Conversely, a break below the key support at $110,000 may lead to a decline toward $105,000–$102,000, potentially testing the previous low at $98,200. Overall, BTC is in a sideways consolidation pattern, with short-term direction yet to be confirmed. Attention should be paid to the $110,000 support and $113,500 resistance levels.

On September 5, BTC ETFs recorded a single-day net outflow of $160 million, with BlackRock IBIT contributing $63.2 million in outflows.

ETH (0.01% | Current Price: 4,297 USDT)

ETH has recently traded in a narrow range of around $4,300. Short-term moving averages (MA5: $4,296; MA10: $4,334) are aligned with the price, indicating a consolidation phase. The price remains below MA30 ($4,424), showing a weakening medium-term upward momentum.

Since late June, ETH has climbed sharply from a low of $2,112 to a high of $4,956, gaining over 130%. After reaching the stage high, the price failed to break further and entered a consolidation phase, finding repeated support in the $4,200–$4,300 range.

Volume has declined, reflecting cautious sentiment among traders. A move back above $4,420 (MA30 and previous resistance) could resume the upward trend, targeting $4,700–$4,950. Conversely, a drop below $4,200 could test $3,950–$3,800, with a potential further retest of $3,500.

Overall, ETH is in a consolidation phase after a strong rally, with short-term sideways movement and medium-term trend awaiting directional confirmation.

On September 5, ETH ETFs saw a net outflow of $446 million, with BlackRock ETHA outflowing $309 million and Fidelity FETH inflowing $37.8 million.

GT (0.06% | Current Price: 16.89 USDT)

GT has been consolidating around $16.8, with its price closely aligned with short-term moving averages (MA5: $16.86, MA10: $16.85), indicating a consolidation phase. The price is slightly below MA30 ($17.18), suggesting medium-term weakness.

GT fell sharply to $14.78 in early June and has since been trading within a $16–$18 range, forming a clear sideways channel. Several attempts to break higher (up to $21.93) have failed, showing persistent selling pressure above.

Trading volume has contracted, reflecting cautious market sentiment. A sustained breakout above $17.2 (MA30 and prior resistance) could target the $18–$19 range. On the downside, a break below $16 may lead to a retest of $15 or even $14.8.

Overall, GT is in a weak consolidation pattern, with near-term bullish and bearish forces relatively balanced.

Tokens Heatmap

Over the past 24 hours, the crypto market has maintained an overall upward trend. BTC and ETH, as market bellwethers, remained stable, while some high-market-cap tokens such as SOL and XRP saw moderate gains, with SOL performing notably at +2.37%. Despite broad market gains, certain individual tokens like LEO and ENA declined, with losses reaching -5.96%. Overall, capital continues to flow into the market, rotating orderly among major cryptocurrencies, while causing significant volatility in some small-cap tokens.

In this capital rotation, some mid-to-small-cap tokens with clear narratives performed exceptionally: Somnia (+34.65%), GoPlus Security (+26.26%), and Worldcoin (+22.43%) all recorded strong gains, reflecting continued market confidence in their ecosystem development and short-term prospects.

SOMI — Somnia (+34.65%, Circulating Market Cap: $232 million)

According to Gate data, SOMI is currently priced at $1.46, up 34.65% in the past 24 hours. Somnia is an L1 blockchain coupled with a full-chain protocol connecting the metaverse, aiming to create a new, open, and unified virtual society. It enables developers to create portable and remixable content by upgrading existing NFTs.

The recent surge is driven by three key factors:

• Mainnet launch and airdrop events significantly boosted market expectations and user engagement.
• Listing on major exchanges increased liquidity and investor accessibility, attracting new capital inflows.
• Rising community interest, combined with Somnia’s narrative as an L1 blockchain and full-chain metaverse protocol, amplified investor sentiment.

Overall, SOMI’s rapid ascent is fueled both by fundamental milestones and by the dual catalysts of market sentiment and liquidity.

GPS — GoPlus Security (+26.26%, Circulating Market Cap: $12.02 million)

According to Gate data, GPS is currently priced at $0.014, up approximately 26.26% in the past 24 hours. GoPlus Security is the first decentralized security layer for Web3, offering comprehensive protection for every transaction across all blockchain networks. Its open, permissionless, and user-driven architecture allows seamless integration with any blockchain or project.

The token’s price surge is mainly attributed to bullish technical signals, strategic ecosystem updates, and eased dilution concerns. A key catalyst was the official announcement of the GoPlus SafeToken Locker, which supports flexible lockup periods and reward claims, while being deeply compatible with major DEXs. This enhancement not only bolstered investor confidence but also signaled the project’s commitment to long-term development.

WLD — Worldcoin (+22.43%, Circulating Market Cap: $2.388 billion)

According to Gate data, WLD at $1.21, rising approximately 22.43% in the past 24 hours. Worldcoin is an open-source protocol designed to enable universal access to the global economy. Its decentralized structure means oversight and decision-making ultimately relies on its user community.

The recent price surge was driven by accelerated ecosystem adoption and partnerships. Key catalysts include the official launch of the World Build 2 application, enhancing real-world utility and user engagement, and the addition of Peru’s University of Engineering and Technology (@utecpe) to the AMPC partner network, promoting the implementation of quantum security research. These developments strengthened market confidence in WLD’s long-term potential and drove the recent price rally.

Hotpot Insights

Tokenized Gold on Ethereum Reaches $2.4 Billion, Nearly 100% Growth Year-to-Date

According to Token Terminal data, the total value of tokenized gold on Ethereum has reached $2.4 billion, achieving nearly 100% growth since the beginning of the year. The market is currently dominated by PAXG and XAUT, reflecting an accelerating migration of traditional safe-haven assets onto the blockchain. The adoption and liquidity of on-chain gold are steadily increasing.

The rapid expansion of tokenized gold highlights the growing demand for “physical assets on-chain.” On one hand, it allows investors to allocate stable assets within the blockchain ecosystem; on the other hand, it demonstrates Ethereum’s increasing capacity as a foundation for asset tokenization. Notably, tokenized gold not only provides a new collateral and trading asset class for DeFi but also serves as a potential entry point for traditional capital into the crypto ecosystem beyond stablecoins.

Ethereum Layer 2 Network Kinto Announces Closure on September 30

Ethereum Layer 2 project Kinto announced that it will officially shut down on September 30. In July, the platform suffered a smart contract vulnerability, allowing hackers to forge 110,000 Kinto tokens and cash out approximately 577 ETH, causing the token price to plummet over 95%. Although the team later introduced the “Phoenix” reboot plan, added debts and blocked financing made continued operations unsustainable. Founder Ramón Recuero stated that he would use personal funds to compensate some users and promised to return 76% of principal to Phoenix borrowers, while remaining platform assets will also be used for compensation.

Kinto’s closure underscores the significant challenges that emerging Layer 2 projects face in terms of security and sustainability. A single smart contract exploit not only destroys project credibility but also makes subsequent financing and ecosystem rebuilding nearly impossible. While teams may attempt to salvage projects through reboot plans, once market trust is lost, it is difficult to restore. This incident serves as a reminder that beyond scalability narratives and liquidity incentives, security and risk management are critical to long-term survival.

Solana Treasury Company DeFi Development Launches “.dfdv” Domain Service

Nasdaq-listed Solana treasury company DeFi Development (Ticker: DFDV) has officially launched the “.dfdv” domain service. This service allows individuals, institutions, and blockchain projects to register personalized digital identities, which can also be used as wallet addresses. DeFi Development stated that the initiative aims to build a decentralized identity layer for the community, and net proceeds from domain sales will support the company’s SOL treasury operations and growth.

The launch of the “.dfdv” domain service marks a significant step for the Solana ecosystem in digital identity and community development. By linking domains to wallet addresses, users gain more intuitive asset management and enhanced recognition and trust in on-chain interactions. Additionally, the direct reinvestment of domain sale proceeds into the treasury reflects innovative thinking in ecosystem sustainability and capital management. This initiative is expected to strengthen Solana community engagement and provide new entry points for on-chain asset management and DeFi applications.


References

• 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/crypto-market-data
• Investing, https://investing.com/indices/usa-indices
• Investing, https://investing.com/currencies/xau-usd
• CoinGecko, https://www.coingecko.com/categories
• X, https://x.com/tokenterminal/status/1964351346376622423
• X, https://x.com/KintoXYZ/status/1964721235675537573
• Globenewswire, https://www.globenewswire.com/news-release/2025/09/05/3145315/0/en/DeFi-Development-Corp-and-AllDomains-Launch-dfdv-Domains-to-Expand-Digital-Identity-Across-the-Solana-Ecosystem.html

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Disclaimer
Investing in cryptocurrency markets involves high risk. Users are advised to conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such decisions.