Gate Research Institute: PYTH 24-hour rise exceeds 83% ｜ Circle enters 5 trillion dollar Payment Network

BTC (-1.81% | Current Price 110,982 USDT)

Recently, BTC has entered a sustained correction after encountering resistance at a high of 113,200 USD, showing a clear downward channel structure. The current price is hovering around 111,500 USD, maintaining a low level for several hours. In terms of moving averages, the short-term moving averages (MA5, MA10) have repeatedly crossed below MA30, indicating that the bears are still in control. It is noteworthy that BTC has formed a temporary low around 111,100 USD, accompanied by a slight rebound, suggesting that there is some support in this area.

If BTC can consistently hold the 111,000–112,000 USD range, there may be further upward correction in the short term, with a target focus on the resistance level around 113,500–114,000 USD; on the contrary, if it drops below the 111,000 USD threshold, it cannot be ruled out that it will retest the previous low support level of 110,500 USD. Overall, BTC is still in a weak consolidation pattern, and it is recommended that investors pay close attention to changes in trading volume and whether the support levels can hold, in order to assess the further direction of bullish and bearish forces.

In addition, on August 28, the net inflow of BTC ETF reached 81.4 million USD in a single day, with BlackRock's IBIT inflow reaching 50.9 million USD, and Fidelity's FBTC inflow at 14.7 million USD.

ETH (-2.58% | Current Price 4,454 USDT)

Recently, ETH has entered a continuous correction after encountering resistance at a high of 4,620 USD, with the overall trend showing a fluctuating downward channel. The current price is around 4,450 USD, with multiple dips to lower levels throughout the day, maintaining a weak oscillation. In terms of moving averages, the short-term moving averages (MA5, MA10) have significantly crossed below MA30, indicating that the bearish trend is still continuing. It is noteworthy that ETH has formed a phase low near 4,420 USD, accompanied by a slight rebound, indicating that this area has certain support.

If ETH can maintain its position in the range of 4,440–4,480 USD, it may see a further corrective rebound in the short term, with the first target focusing on the resistance level around 4,550 USD. Conversely, if it falls below the 4,400 USD level, there is a possibility of testing the previous low support level of 4,350–4,320 USD again. Overall, ETH is still in a weak oscillation pattern, and investors are advised to pay attention to changes in trading volume and whether the 4,400 USD support level can hold, in order to assess the further evolution of bullish and bearish forces in the market.

In addition, on August 28, the ETH ETF had a net inflow of $39.1 million in a single day, with BlackRock's ETHA inflowing $67.6 million and Fidelity's FETH outflowing $33.5 million.

GT (+0.01% | Current price 16.97 USDT)

GT encountered resistance at the high point of 17.40 USD and has pulled back, currently trading around 16.90 USD. Overall, since the peak, the price has experienced a significant decline and found support near 16.80 USD, entering a phase of low-level consolidation.

In terms of moving averages, the short-term moving averages (MA5, MA10, MA30) are forming resistance below 17 USD, with prices attempting to break above the moving averages several times but lacking sustainability, indicating that the current bullish momentum is weak and the market is still in a bearish correction pattern. Trading volume shows that during the decline, the volume increased, but it gradually decreased during the fluctuations in the 16.8–17.2 USD range, indicating that selling pressure has eased, but buying power has not yet been effectively released.

Looking ahead, if GT can maintain support at 16.8 USD and break through the resistance range of 17.5 USD with increased volume, it is likely to trigger a rebound recovery trend, with further upside potential towards 18.2–18.8 USD. Conversely, if it falls below 16.8 USD, it may accelerate the decline, testing the support at 16.3 USD or even lower.

Overall, GT is currently in a low-level consolidation phase, with a strong wait-and-see sentiment in the short term. It is important to pay attention to whether the support at 16.8 USD can hold and whether the trading volume can effectively increase.

Daily Price Change Tokens

The overall market sentiment is leaning towards positivity, with a few tokens like PYTH, ANON, and LAUNCHCOIN seeing increases of over 30%, leading the sector and reflecting a concentrated inflow of funds and strong upward momentum. In contrast, BLIUM has experienced a decline of as much as -27.47%, becoming the token with the largest drop, which may be related to the project's dynamics, market selling pressure, or potential negative news.

PYTH Pyth Network (+83.55%, Circulating Market Cap 1.194 billion USD)

According to Gate market data, the current price of PYTH token is 0.21 USD, up approximately 83.55% in the last 24 hours. Pyth Network is an oracle that publishes financial market data to multiple blockchains. PYTH is the governance token of the Pyth network. Michael Cahill is the CEO of Pyth development company Douro Labs. Previously, he held special projects at Jump Crypto.

The rise of PYTH is mainly driven by the positive news of the Ministry of Commerce's collaboration with Chainlink and Pyth Network. This collaboration will officially bring macroeconomic data directly on-chain for the first time, including key indicators such as GDP, Personal Consumption Expenditures (PCE) Price Index, and actual final sales. This means that DeFi platforms and blockchain applications can obtain verified government data in real-time to adjust lending rates, collateral requirements, or develop innovative financial products, such as assets linked to inflation. At the same time, multiple mainstream public chains will distribute this data, including Ethereum, Avalanche, Arbitrum, Optimism, etc., enhancing transparency and verifiability. This initiative is interpreted by the market as an important signal for the integration of traditional finance and decentralized finance, thereby driving the demand and price increase of PYTH.

W Wormhole (+36.74%, circulating market cap 488 million USD)

According to Gate's market data, the current price of the W token is $0.10, with a 36.74% increase in the last 24 hours. W is the native token of the Wormhole platform and belongs to the Solana SPL and Ethereum ERC20 tokens, which can be seamlessly transferred to any network connected to Wormhole through the Wormhole native token transfer feature.

The recent rise of W is mainly driven by the market sentiment and bidding narrative surrounding the StarGate acquisition event. Although LayerZero ultimately succeeded in acquiring StarGate for $110 million, Wormhole did not win the bid; however, the high bid proposed by them during the acquisition process was interpreted by the market as a signal of the team's financial strength and expansion ambition. At the same time, the bidding event has refocused investors' attention on the cross-chain ecosystem and Wormhole's potential role, increasing short-term trading activity.

TREE Treehouse (+21.02%, circulating market cap 58.42 million USD)

According to Gate market data, the current price of the TREE token is $0.37, having risen approximately 21.02% in the last 24 hours. Supported by top investors such as Wintermute, GSR, GFC, and Lightspeed, Treehouse has launched two core modules: (1) tAssets, which creates yield premiums for liquidity staking tokens (LSTs) by aggregating fragmented on-chain interest rates; (2) DOR, which is a decentralized consensus mechanism that creates a cryptocurrency system similar to LIBOR, using underlying interest rates to assess prediction accuracy and build a term structure for any cryptocurrency-denominated interest rate.

The price of TREE has risen mainly driven by improved market sentiment and favorable developments in the ecosystem. Previously, TREE experienced a significant price drop due to the July airdrop, which led to some investors selling off their holdings, creating short-term pressure. However, recent interest from investors has rebounded, pushing the price up. At the same time, Conflux Network announced a strategic partnership with AIOZ Network to integrate decentralized infrastructure services, including AI markets, media streaming, object storage, and IPFS fixed services, bringing practical scenarios and long-term value expectations to the TREE ecosystem. Overall, the combination of improved market sentiment and favorable ecosystem developments has driven the price increase of TREE.

Daily New Investment

New Investment Details

• Subscription Project: SecondLive
• Token Name: LIVE
• Subscription period: Until September 4, 2025, 19:00 (UTC+8)
• Participation method: Stake USDT, LIVE to receive for free
• Total airdrop amount: 200,000 LIVE

Project Introduction

SecondLive has created the first AI-driven, self-evolving digital universe that integrates AI intelligent agents, AIGC tools, and blockchain technology, empowering users, brands, and developers to create immersive spaces and virtual avatars. The platform relies on tools like Gobetti and Calzone, as well as a dual-token economic system, attracting 4.7 million users and receiving strong support from multiple top-tier investment institutions. SecondLive connects the creativity of Web2 with the intelligence of Web3, continually expanding application scenarios into areas such as entertainment, education, and simulation.

Hotspot Interpretation

Finastra partners with Circle to bring USDC into a global $50 trillion cross-border payment network.

London fintech company Finastra announced a partnership with Circle to integrate the USDC stablecoin into its core payment platform Global PAYplus (GPP), which processes over $5 trillion in cross-border payment flows daily. With this integration, banks will be able to choose to settle cross-border transfers in USDC, thereby reducing reliance on traditional correspondent bank networks. Correspondent networks are often criticized for their high costs and slow settlement times, while USDC can achieve faster and cheaper settlement through blockchain rails, significantly enhancing capital flow efficiency and the cross-border payment experience.

This move not only strengthens the application prospects of stablecoins in the traditional financial system but also demonstrates the strong interest of financial institutions in blockchain settlement models. As payment giants like PayPal and Stripe are laying out stablecoin infrastructure, Circle's USDC has become the second largest stablecoin by market capitalization, with a supply of 69 billion dollars. Finastra and Circle indicated that the parallel model of USDC settlement with fiat currency instructions will provide global banks and users with more flexible and transparent cross-border payment solutions. Industry insiders expect that this collaboration is likely to promote stablecoins further into the mainstream, accelerating the digital transformation and innovation of financial institutions.

The cost of Bitcoin mining continues to rise, and miners are seeking diversified development.

Bitcoin mining is facing unprecedented challenges. Executives from Cleanspark and Terawulf pointed out at the SALT conference that electricity costs have become a major drain on profits, with about half the cost of mining one Bitcoin coming from electricity bills, further compressing profit margins due to corporate expenses. With the rise of exchange-traded funds (ETFs) and growing demand for artificial intelligence infrastructure, miners must seek diversified development, such as monetizing electricity, to cope with market pressures beyond the halving cycle. The mining business model is shifting from solely relying on hash rates and rewards to a more flexible and strategic direction.

At the same time, the Bitcoin ecosystem is continuously innovating in technology and financial applications. Lombard Finance launched the LBTC liquid staking token, allowing staked Bitcoin to be used in multi-chain DeFi, achieving parallel yield and liquidity; Optimism collaborated with Flashbots to optimize the OP Stack, improving transaction ordering and speed on the second-layer network; Hemi Labs completed a $15 million financing round to advance the development of the Bitcoin programmable network and Hemi Virtual Machine (hVM), supporting lending and trading applications. This indicates that Bitcoin is not only under pressure in the mining sector but is also continuously transforming into a composable and productive asset ecosystem.

encryption company Luxxfolio plans to raise 73 million USD to establish a Litecoin reserve strategy.

Canadian cryptocurrency infrastructure company Luxxfolio is shifting from Bitcoin mining to a Litecoin-centric digital asset reserve strategy while planning for related infrastructure expansion. The company submitted a "shelf prospectus" this Thursday for up to CAD 100 million (approximately USD 73 million), allowing it to raise funds through the issuance of stock, debt, or other securities over the next 25 months. CEO and Director Tomek Antoniak stated that Litecoin is a "hard currency," and the company aims to enhance its market share and drive adoption by expanding its reserves, infrastructure, and ecosystem layout. Luxxfolio had previously disclosed its Litecoin purchases in July, planning to accumulate 1 million Litecoin by 2026, and welcomed Litecoin founder Charlie Lee to its advisory board in June. This strategy reflects the trend of cryptocurrency companies attracting institutional investors through reserves and infrastructure.

However, Luxxfolio is facing severe financial pressure. The company did not generate revenue in the second quarter, with a net loss of approximately $197,000, compared to $8,000 in the same period last year, and cash at the end of the period was only $112,000. Since its establishment in 2017, the cumulative loss has approached $19 million, and recently it has relied on $844,000 from private placements to maintain operations. Management has warned that without new funding, there are "significant doubts" about the company's ability to continue operations. Analysts point out that while institutions may be interested in reserves of crypto assets, Luxxfolio's liquidity is tight and losses are accumulating. If Litecoin is merely hoarded and not effectively utilized, the risks remain considerable.
Reference:

• 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
• Gate, https://www.gate.com/price/camp-network-camp
• Gate, https://www.gate.com/trade/VVS_USDT
• Gate, https://www.gate.com/trade/LPT_USDT
• Coindesk, https://www.coindesk.com/business/2025/08/27/finastra-taps-circle-to-bring-usdc-settlement-to-usd5t-global-cross-border-payments
• Coindesk, https://www.coindesk.com/tech/2025/08/27/the-protocol-bitcoin-mining-faces-new-challenges-as-power-costs-eat-profit
• Decrypt, https://decrypt.co/337295/luxxfolio-files-73m-litecoin-treasury-plans
• Gate, https://www.gate.com/launchpool/LIVE?pid=364

Disclaimer Investing in the crypto market involves high risks. Users are advised to conduct independent research and fully understand the nature of the assets and products they are purchasing before making any investment decisions. Gate is not responsible for any losses or damages resulting from such investment decisions.