Macro Trends

This report summarizes Web3 on-chain data for June 2025: Solana maintained its lead in transaction volume and active addresses, while Base remained the top Layer 2 network. Ethereum reclaimed the top spot in fee revenue through high-value interactions. Although Bitcoin’s on-chain transaction volume declined, the proportion of high-value transactions rose to 89%, indicating a shift toward institutional activity. PumpSwap surpassed $38 billion in trading volume with over 9 million active users, solidifying its position as the leading DEX on Solana. Sei saw simultaneous growth in on-chain volume and TVL, with its technical strengths and policy tailwinds driving momentum. Rising social media traction further amplified market attention.

Gate Research Daily Report: On July 4, BTC prices rebounded from around 105,000 USDT, forming a new consolidation range between 109,000–110,000 USDT; ETH is trading sideways in a tight high range between 2,560–2,600 USDT.The U.S. Senate Advances "One Big Beautiful Bill Act" Bill with Key Procedural Vote; Ondo Finance and Pantera Capital plan to launch a $250 million fund to support RWA projects; Owlto is advancing cross-chain infrastructure centered on the USD1 stablecoin.

Gate Research Weekly Report: This week, BTC rose 0.88%, underperforming altcoins overall, with $110,000 acting as a key resistance level. Gate launched the xStocks zone, featuring spot trading, perpetual contracts, and Alpha trading. Ripple, following Circle, has applied for a U.S. national bank charter, aiming to offer more crypto-related services. Bitcoin DeFi project BOB launched the BitVM Bridge testnet, supported by several major crypto firms. Ethereum’s stablecoin supply reached a record high of $135.4 billion. The first spot-staking Solana ETF debuted, recording $33 million in trading volume on its first day. Gate Launchpool introduced MAT, with a total reward pool of 40,000 MAT.

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Gate Research Daily Report: On July 2, BTC and ETH continued to consolidate with weak short-term technical structures, as overall market sentiment turned cautious. Among trending tokens, CALCIFY surged over 42% following multiple exchange listings, while SUN and VENOM saw short-term gains driven by TRON community activity and a high-profile AMA, respectively. On the macro front, Gate surpassed 30 million registered users and advanced its global compliance efforts, the U.S. SEC fast-tracked approval for Grayscale’s GDLC to be listed, and Malaysia proposed easing token listing regulations.

Gate Research Daily Report: On July 1, BTC and ETH both fell by over 1%, a reasonable correction following the recent token price surge. Online brokerage Robinhood announced that it will allow EU clients to trade U.S. stocks and ETFs on the blockchain, with plans to transfer these tokenized stocks to its own Layer 2 blockchain, Robinhood Chain. Stablecoin issuer Circle has applied for a U.S. national banking license, enabling it to act as a custodian for USDC reserves and hold crypto assets for institutional clients. Polygon Labs, in collaboration with crypto market maker GSR, launched Katana, a DeFi-focused Ethereum Layer 2 blockchain, aimed at addressing on-chain asset fragmentation and unsustainable yields driven by high inflation.

Gate Research Daily Report: On June 30, BTC surged quickly from around 107,200 USDT, reaching a peak of approximately 108,600 USDT and is now consolidating at relatively high levels. ETH broke through the key 2,500 USDT level in one move, briefly touching a high of 2,511.39 USDT. In terms of trending tokens, Arbitrum (ARB) rose by 16.39%, driven by DeFi activity within its ecosystem and recent new incentive measures; Aave (AAVE) gained 7.3%, supported by strong user stickiness, market contributions, and record loan volume and revenue; the emerging meme coin SPX increased by 6.62% amid improving economic data and recovering market sentiment. Additionally, Babylon Genesis Chain will adopt a dual virtual machine architecture combining EVM and CosmWasm to enhance BTCFi compatibility; the CBDC project led by the Bank of Korea has been paused, shifting focus toward KRW stablecoins; Metaplanet issued 30 billion JPY in zero-coupon corporate bonds to purchase additional Bitcoin.

Gate Research Daily Report: On June 27, BTC continued to consolidate with rising risk of a pullback, while ETH showed bearish technical signals and overall market sentiment turned more cautious. Among trending tokens, CHEEMS rose 7.07% amid renewed meme coin hype, LQTY gained nearly 4% driven by its V2 launch and BOLD fork ecosystem expectations, and MOVE climbed 1.76% following the foundation’s 10 million token buyback and speculation surrounding its collaboration with Google Cloud.On the regulatory front, the U.S. Senate accelerated the advancement of its crypto market structure bill, aiming for passage by the end of September. Meanwhile, Hong Kong released its “Digital Asset Development Policy Declaration 2.0,” establishing the LEAP strategic framework to strengthen regulation and tokenization ecosystems. Nasdaq announced the integration of Canton Network blockchain into its Calypso system, aiming to improve cross-asset liquidity and transparency, marking a key step toward bridging TradFi and DeFi infrastr

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Gate Research Institute Weekly Report: This week, BTC rose 2.77%, with its K-line showing a bullish trend, suggesting sustained upward momentum. Altcoins displayed a low-to-high trajectory, with SEI leading the altcoin sector with over 50% gains. The Bitcoin Fork, Zero Knowledge (ZK), and Oracle sectors gained 5.3%, 5.2%, and 4.7% respectively over the past 7 days. Ethereum stablecoin weekly active users surpassed 750,000, a record high. The Bitcoin ecosystem’s Web3 social platform MetaSo exceeded 1 billion on-chain interactions, introducing a “secondary distribution” incentive mechanism. BitGo’s custodial crypto assets surpassed $100 billion.

Gate Research Daily Report: On June 25, the crypto market continued its recovery as BTC rebounded from 98,000 USDT, forming a V-shaped structure, while ETH remained in a consolidation pattern. Market sentiment has shifted toward greed. Among top-performing tokens, CFG surged 16.8% as renewed attention focused on its tokenized U.S. Treasury fund JRTSY. APT rose over 12% driven by the launch of its new project “Shelby,” and VELO gained nearly 9% following its cross-border product expansion with Solana. Solana’s CME futures volume hit a record high, signaling increased institutional activity. Meanwhile, the BIS criticized stablecoins for lacking core monetary attributes and advocated for a unified ledger and tokenized central bank assets. Ethereum developers proposed reducing block time to 6 seconds to enhance performance and lower costs.

Gate Research: The U.S.-listed company Fiserv disclosed on Monday that it will launch the stablecoin FIUSD by the end of the year and plans to integrate it into existing banking and payment infrastructures.The BTFS (BitTorrent File System) official website announced the v4.0 mainnet upgrade, which will bring revolutionary technological breakthroughs. As U.S. President Donald Trump announced that Iran and Israel have agreed to a ceasefire, cryptocurrencies such as BTC surged last night, with optimistic market sentiment.

Gate Research Daily Report: On June 23, the crypto market was impacted by rising geopolitical tensions in Iran, with BTC briefly dipping to 98,000 USDT before forming a sharp V-shaped rebound, while ETH saw range-bound consolidation. Most altcoins declined, and overall market sentiment leaned toward neutral-to-fear. Among trending tokens, IP Story surged over 14% driven by positive news and a technical breakout; Hyperliquid rose 7.31% amid strong capital inflows and strategic partnerships; Kaia gained 6.54% on favorable policy developments and ecosystem expansion. Meanwhile, Korean payment giant Kakao Pay accelerated its push into the KRW stablecoin space. Geopolitical risks heightened risk-off sentiment and market volatility. In terms of cross-chain capital flows, Base, Unichain, and Hyperliquid led with the highest net inflows.

Gate Research: Plasma plans late summer mainnet launch, optimizing stablecoin transactions; Renzo Protocol partners with Concrete for institutional restaking products. Crypto market sentiment is cautious, with BTC in consolidation, ETH in a broad range, and altcoins mixed. CALCIFY, SNT, and CTA shine, while Meteora introduces tools to enhance Solana liquidity management.

Gate Research Institute Weekly Report: BTC remains in a broad consolidation phase, with short-term resistance at $109,000 and support near $103,000; ETH moves in tandem with the market, overall showing broad oscillation; ZK, L2, and AI Agents sectors lead the declines; the total net asset value of Ethereum spot ETFs has surpassed $10 billion, with over 20,000 Bitcoin addresses holding more than $10 million each, and Ethereum’s staking amount has exceeded 35 million coins.