Crypto Market Overview

BTC (-0.48% | Current Price: 115,434 USDT)

Recently, BTC has been trading in a relatively narrow range between $115,000 and $116,600. Short-term moving averages (MA5, MA10) and the mid-term MA30 are intertwined, reflecting a balance between bullish and bearish forces. The price has repeatedly found support around $115,400 but faces strong resistance near $116,600, failing to break through convincingly. Trading volume mainly surged during rebounds below $115,000, indicating continued buying interest at lower levels. Overall, BTC’s short-term trend remains sideways and consolidative. A strong breakout above $116,600 could push the price higher, while a break below $115,000 may increase downside pressure.

Additionally, on September 12, BTC ETFs saw a single-day net inflow of $642 million, with BlackRock IBIT receiving $264 million and Fidelity FBTC $315 million.

ETH (0.36% | Current Price: 4,624 USDT)

ETH recently showed a pattern of strong initial rally followed by a consolidation pullback. After reaching a short-term high near $4,766, the price was resisted and has since retraced to around $4,620. Short-term moving averages (MA5, MA10) have crossed below the mid-term MA30, indicating weakening bullish momentum. Volume analysis shows significant activity during the upward move, while trading volume shrank during the pullback, suggesting selling pressure is not yet substantial.

Support and Resistance Levels:

• Support: $4,600–$4,550; a break could accelerate a drop toward $4,450.
• Resistance: $4,680–$4,720; a strong breakout could test the prior high at $4,766.

Overall, ETH remains in a short-term consolidation phase. Holding above $4,600 with volume recovery may allow another upward move, otherwise, the adjustment may continue.

On September 12, ETH ETFs recorded a single-day net inflow of $405 million, with BlackRock ETHA at $165 million and Fidelity FETH at $168 million.

GT (0.33% | Current Price: 17.21 USDT)

GT has recently traded sideways in the $16.65–$17.53 range. Following a prior rally, a high was established at $17.53 but without sufficient volume to break through, leading to horizontal consolidation. Short-term MAs (MA5, MA10) have repeatedly crossed with MA30, signaling intense short-term tussle between buyers and sellers with no clear trend direction.

Volume analysis shows reduced activity after the initial surge, suggesting limited buying interest and weakening short-term bullish momentum.

Key Levels:

• Support: $17.00–$16.65; a break could trigger further downside.
• Resistance: $17.30–$17.50; a volume-backed breakout could open a new upward move.

Overall, GT is in a sideways consolidation pattern. Short-term direction depends on a volume-supported breakout. Conservative traders may wait for a clear signal, while aggressive traders could consider buying near support, with caution to manage risk and take profits at higher levels.

Tokens Heatmap

Over the past 24 hours, the crypto market has come under pressure, with most major tokens experiencing broad pullbacks. BTC and ETH fell by 0.56% and 1.40%, respectively, while BNB and SOL also saw notable declines of 0.79% and 2.02%, pushing overall market sentiment toward caution.

In contrast, several mid- and small-cap tokens with clear narratives and ecosystem developments bucked the trend, posting strong gains: MITO (+40.47%), TOWNS (+24.85%), and AVNT (+11.72%). This indicates that, amid pressure on major tokens, capital is accelerating toward projects with growth potential and real-world application.

MITO – Mitosis (+40.47%, Circulating Market Cap: $59.65M)

According to Gate data, MITO is currently priced at $0.31, up approximately 40.47% in 24 hours. Mitosis is a modular liquidity protocol designed to redefine cross-chain liquidity. By enhancing cross-chain LPing liquidity, it strengthens the protocol’s appeal. Mitosis LPs receive derivative tokens that can be redeemed 1:1 for their locked assets.

Key drivers behind MITO’s recent surge include the official launch of the Mitosis mainnet and dApp, along with incentive pools celebrating the tMITO release, allowing users to stake tMITO for rewards. Additionally, the Mutate feature (beta) has been opened, further expanding protocol interaction scenarios. SPACE ID has also integrated with Mitosis, using .mito domains to support its identity layer, significantly boosting ecosystem utility and user retention.

TOWNS – Towns (+24.85%, Circulating Market Cap: $70.28M)

According to Gate data, TOWNS is currently priced at $0.03, up roughly 24.85% in 24 hours. Towns is a decentralized real-time messaging protocol built on an EVM-compatible L2 layer with smart contract support on the Base network. The protocol enables “ownable and monetizable spaces” through on-chain memberships, encrypted messaging, and programmable reputation mechanisms.

The token’s recent rise is driven by ecosystem expansion and rapid on-chain activity growth. Notable developments include $TOWNS being listed on OpenSea, cumulative tips exceeding $105,000 within single chat groups on the Towns App, and protocol staking exceeding 2.3 billion tokens (24% of total supply) with participants earning an average annualized yield of 34.5%. The combination of on-chain activity and economic incentives has propelled TOWNS’ strong performance.

AVNT – Avantis (+11.72%, Circulating Market Cap: $160M)

According to Gate data, AVNT is currently trading at $0.91, up 11.72% over the past 24 hours, according to Gate. Avantis is the largest derivatives exchange on the Base platform and the leading DEX for trading and market-making in real-world assets (RWAs).

The recent AVNT rally has been driven by continued ecosystem and market expansion. Following listings on multiple major exchanges, the platform launched spot trading on a Korean exchange, increasing liquidity and user attention. Ongoing platform reward programs have distributed 60,000 OP tokens (~$50,000) to incentivize participation. Additionally, Avantis ranks among the top five fee-contributing protocols on Base, reflecting growing application activity and ecosystem value.

Hotpot Insights

Pump.fun’s Market Share in Solana Token Issuance Platforms Rises to 90.4%

According to Jupiter data as of September 15, Pump.fun dominates the Solana token issuance platform market with a 90.4% share, far ahead of the second-ranked Letsbonk (5.45%) and third-ranked Believe (1.6%). This highlights Pump.fun’s leading role in Solana’s token issuance and ecosystem development.

With market share exceeding 90%, Pump.fun is approaching a near-monopoly in Solana token issuance. This reflects not only the platform’s technical advantages and user trust but also the strong preference within the ecosystem for efficient, secure, and feature-rich issuance tools. If Pump.fun continues to optimize user experience and introduce innovative features, it is likely to further consolidate its leadership within Solana and the broader Web3 ecosystem, while exerting significant competitive pressure on other issuance platforms.

Gate GUSD On-Chain Supply Surpasses $100 Million, Three Mining Pools Running Simultaneously

Gate GUSD’s on-chain supply has exceeded $100 million. Users holding GUSD in spot accounts, financial accounts, or Launchpool can earn approximately 4.4% annualized minting yield, which can be stacked with product earnings for dual interest returns. Currently, Gate Launchpool operates three GUSD mining pools concurrently: AVNT Pool (16.32% APY), U Pool (16.85% APY), and BOT Pool (16.07% APY). GUSD is backed by Gate ecosystem revenue, government bond RWAs, and stablecoin assets, offering trading, collateral, and yield functions to users.

The milestone of $100 million supply demonstrates rapid market acceptance of Gate’s stablecoin ecosystem. Its yield model, combining stable on-chain returns with DeFi mining incentives, strengthens both GUSD’s asset properties and circulation value within the ecosystem. The high APY offered by Launchpool continues to attract capital inflows, reinforcing GUSD’s competitive position in the stablecoin market. However, its long-term attractiveness will depend on the sustainability of returns and the robustness of underlying asset support.

Polkadot DAO Approves Proposal to Cap DOT Supply at 2.1 Billion

Polkadot DAO’s (Decentralized Autonomous Organization) Proposal #1710 was approved with 81% support, setting a total supply cap of 2.1 billion DOT tokens. This ends the current model of uncapped supply with annual issuance of 120 million DOT. Under the new proposal, DOT issuance will gradually decrease every two years, significantly slowing the growth of token supply and increasing scarcity expectations in the market.

The proposal marks Polkadot’s transition to a “fixed supply + decreasing issuance” economic model, with significant implications for investors and ecosystem participants. On one hand, the supply cap and gradual reduction mechanism may enhance DOT’s scarcity value and boost long-term holder confidence. On the other hand, it reflects the maturation of Polkadot’s governance, showing the community’s growing focus on inflation control and sustainable token economics. In the short term, the market may form positive expectations for DOT, while monitoring the impact of reduced issuance on network incentives and ecosystem expansion.


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/trade/GT_USDT
• CoinGecko, https://www.coingecko.com/en/cryptocurrency-heatmap
• Gate, https://www.gate.com/price
• Jupiter, https://jup.ag/pro?tab=launchpads
• Gate, https://www.gate.com/staking/GUSD
• X, https://x.com/Cointelegraph/status/1967385396255322185

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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.