Gate Research Institute: BTC experiences short-term fluctuations after reaching a new high | Gold rises, pushing XAUT market capitalization to a new high

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Encryption Asset Panorama

BTC (+0.46% | Current Price 122,477 USDT)

BTC broke through 126,000 on October 7, setting a new high, and is currently in a short-term consolidation range, with prices fluctuating around the hourly moving average. The MACD indicator shows that the dual lines are likely to form a death cross, with the histogram continuously shrinking, and momentum gradually weakening, indicating insufficient buying interest. If the price cannot effectively stabilize above 123,000, it may test the previous low area again in the short term, and attention should be paid to the support levels around 122,000 and 118,000; if it can regain volume and break through 124,000, the market may be expected to regain upward momentum.

ETH (-0.15% | Current Price 4,472 USDT)

ETH has recently seen a significant pullback, remaining under pressure below the short-term moving averages after falling from its peak, with the short-term structure turning bearish. The current price has dipped to around 4,470, and the MACD dual lines maintain a golden cross, but the momentum bars are shortening, reflecting a gradual decline in upward momentum, indicating a risk of further weakening in the short term. If the support at 4,450 is broken, it is necessary to pay attention to whether it will retest the lows around 4,335; if it can stop the decline and rebound back above 4,550, there may be a chance to alleviate the downward pressure.

GT (+0.02% | Current Price 16.620 USDT)

GT maintains a sideways consolidation pattern, with prices fluctuating narrowly around the 16.60 level. The three hourly moving averages are closely intertwined, and the direction of choice has not yet been clarified. The MACD dual lines are closely attached to the zero axis, with limited changes in the histogram, indicating a relatively neutral momentum and a strong market wait-and-see sentiment. If there is a volume breakout above 16.80 in the short term, it may open up short-term rebound space; conversely, if it falls below 16.20, the market may weaken again.

Daily Price Fluctuation Tokens

The overall performance of the encryption market in the past 24 hours remains divergent. BTC rose by 0.46%, maintaining a high-level oscillation trend; while ETH slightly fell by 0.15%, and XRP dropped by 0.52%, showing relatively weak performance. In contrast, SOL's rise reached 2.50%, becoming the most outstanding asset among mainstream public chains.

LAVA Lava Network (+197.67%, circulating market cap 55.5 million USD)

According to Gate market data, the current price of the LAVA token is $0.16345, with a 197.67% increase over the past 24 hours. Lava Network is a protocol that coordinates AI agents, applications, and wallet traffic on the blockchain, aggregating multiple data providers and guiding transactions and queries based on their speed and reliability. The protocol has generated over $3.5 million in revenue and paid service providers more than $1 million. If the blockchain is a city, Lava is the core infrastructure that controls the data pathways.

The recent rise is primarily driven by news. According to content released by Lava, Standard Chartered Bank expects that by 2028, $1 trillion in capital will flow out of emerging market banks towards stablecoin assets, and each stablecoin transaction relies on RPC interfaces, with Lava Network being one of the key infrastructures. As the market's attention to the importance of on-chain data infrastructure heats up, coupled with recent advancements by Lava in cross-chain support and decentralization, it further stimulates the market's attention and expectations for the LAVA token, leading to an increase of nearly 198% within 24 hours.

COAI ChainOpera AI (+81.59%, circulating market cap 1.096 billion USD)

According to Gate.io market data, the current price of the COAI token is $5.6588, up 81.59% in the last 24 hours. ChainOpera AI is an artificial intelligence infrastructure project dedicated to providing high-performance AI model inference and data processing capabilities for on-chain applications. The project aims to combine AI inference nodes with decentralized computing resources to create an on-chain AI network ecosystem. COAI is its platform token, used for core functions such as payment for computing resources, staking, and network governance.

The recent increase is mainly driven by collaborative expansion and product launches. ChainOpera announced partnerships with multiple ecological projects, further strengthening its influence in the AI network. Meanwhile, COAI recently launched its contract products and supports up to 5x leverage trading, attracting market attention. In addition, the community's recognition of its "on-chain AI model traffic layer" positioning has increased, combined with recent capital inflows and heightened attention, jointly driving the COAI token to achieve significant gains in the short term.

MNT Mantle (+19.40%, circulating market cap 9.157 billion USD)

According to Gate's market data, the current price of the MNT token is $2.8130, having risen by 19.40% in the last 24 hours. Mantle is an Ethereum layer two network built on a modular architecture, aiming to provide a more efficient and low-cost on-chain execution environment. Its native token MNT is used for core functions such as network governance, staking incentives, and ecological incentives, while also supporting multiple DeFi, GameFi, and infrastructure developments within the Mantle ecosystem.

The recent rise was mainly driven by ecological activities and an increase in community enthusiasm. Mantle launched the "Max Out SZN" strategy campaign, establishing a reward pool of 50,000 MNT to incentivize user participation, while collaborating with Succinct Labs to complete the on-chain Gen-ZK POAP distribution, showcasing its technical progress in ZK scenarios. The project team will also invite outstanding creators to participate in the upcoming CCCCLisbon 2025 summit, further strengthening community engagement and ecological expectations, driving MNT prices upward.

Hotspot Interpretation

The rise in gold pushes XAUT's market value to a new high, and tokenized assets are in high demand.

With the continuous rise in international gold prices, tokenized gold assets have also gained favor in the market. According to Coingecko data, the tokenized gold product Tether Gold (XAUT) issued by Tether has surpassed a market value of 1.5 billion USD, setting a new historical high. XAUT is a cryptocurrency backed by physical gold, with each token representing one ounce of physical gold stored in a Swiss vault. This type of asset combines the safe-haven properties of gold with the convenience of blockchain, and has rapidly developed in recent years due to increased demand for portfolio diversification and digital assets.

This milestone also reflects the trend of accelerating integration between traditional finance and blockchain applications. Compared to traditional gold holding methods, tokenized gold not only has stronger liquidity but can also be embedded in decentralized finance (DeFi) scenarios for use as collateral, lending, or trading tools. Against the backdrop of central banks continuously buying gold, geopolitical tensions, and unresolved inflation risks, the market demand for gold-backed digital assets is expected to further grow. Tether Gold, as a representative product, has increasingly solidified its market position.

BlackRock's Bitcoin ETF approaches $100 billion, becoming the leading product in terms of revenue under its management.

According to public data, BlackRock's Bitcoin spot ETF—iShares Bitcoin Trust (IBIT)—has assets close to $100 billion, with a management fee rate of 0.25%, and annual revenue estimates exceeding $240 million, surpassing any of the over 1,000 funds currently managed by BlackRock. Since its establishment less than two years ago, this product has rapidly grown, with an asset scale expansion rate about one-fifth of the time it takes for traditional ETFs to reach the same scale, making it the 'youngest' among the top 20 ETFs currently.

Market analysis indicates that the inflow of funds into IBIT comes from both retail and institutional investors, reflecting an increased demand from some investors for the inclusion of encryption assets in their asset allocation. Although there were optimistic expectations about its potential scale in the early market, the current inflow rate still exceeds mainstream estimates. The performance of IBIT has also prompted it to become one of the top-performing products in terms of revenue within BlackRock, highlighting that traditional asset management institutions are gradually shaping their product layout in the digital asset field.

Uniswap TVL breaks 7 billion USD, V4 progress and multi-chain expansion boost protocol activity recovery.

According to DeFiLlama data, Uniswap's current total value locked (TVL) has risen to approximately 7 billion dollars, setting a new high since 2025. Meanwhile, the price of the UNI token has also continued to rebound, nearing the 8 dollar mark, with the protocol's cumulative fee revenue exceeding 10 million dollars in the past week.

This performance reflects a significant recovery in trading activity and liquidity supply within the Ethereum ecosystem. Analysis indicates that the growth momentum of Uniswap mainly comes from recent multi-chain expansion, progress in V4 protocol testing, and the optimization and upgrading of the liquidity provider (LP) reward mechanism. Amidst the backdrop of renewed capital inflows into the entire DeFi market, Uniswap has once again consolidated its position as the core of decentralized trading infrastructure, demonstrating strong ecological resilience and protocol profitability.
Reference Materials:

• 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/en/cryptocurrency-heatmap
• CoinGecko, https://www.coingecko.com/en/coins/tether-gold
• Bloomberg, https://www.bloomberg.com/news/articles/2025-10-07/blackrock-s-most-profitable-etf-ibit-is-a-nearly-100-billion-bitcoin-giant?srnd=phx-crypto
• Defillama, https://defillama.com

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