Gate Research: XRP Spot ETF Sees 13 Consecutive Days of Net Inflows | SN 24-Hour Increase Exceeds 90%

Crypto Asset Overview

BTC (-0.87% | Current Price 92,345 USDT)

After a period of consolidation at high levels, BTC’s trend over the past 24 hours has turned to weak consolidation. The price has repeatedly faced resistance and pulled back near $93,000, failing to make an effective breakout. Meanwhile, short-term moving averages (MA5, MA10, EMA9) have flattened or even slightly turned down, reflecting a weakening of short-term bullish momentum. The current price is below several short-term moving averages and near the medium-term MA30, indicating the trend is shifting from a strong phase to consolidation. Overall trading volume is insufficient, and the candlesticks are mostly small-bodied with upper and lower wicks, showing a cautious market sentiment and significantly cooled buying power compared to previous periods.

If the price finds support above $92,000 and trading volume picks up, there is still a chance to regain strength and challenge the $93,500 resistance area. Conversely, if it breaks below $92,000 and remains weak, it may further test the support zone at $91,000–$90,500 to complete a technical pullback. Overall, the trend has shifted from strong to stable, with short-term weakness but the medium-term structure remains intact. In terms of strategy, watch the effectiveness of the $92,000 support and wait for a clear direction before making further judgments.

ETH (-1.12% | Current Price 3,174 USDT)

After a significant pullback, ETH has gradually stabilized at a low and formed a clear rebound structure within a short time. The price has returned above the $3,150 range and is testing short-term moving averages. Short-term MAs (MA5, MA10) have turned upward again, providing support on multiple pullbacks, indicating buying strength is starting to increase below. Although the price has not fully distanced itself from MA30, it has moved back above it and is gradually widening the gap, signaling a rebound trend is forming.

Recent volume-backed bullish candlesticks show strong support in the $3,080–$3,100 area, pushing the price quickly away from the lows. However, there is still some resistance in the $3,200–$3,240 zone, with multiple upper wicks reflecting some exhaustion as bulls push higher. If ETH can consolidate above $3,150 and break above $3,200 with volume, it is likely to challenge the $3,240 high and continue the short-term rebound.

On the other hand, if the price falls below MA30 again and volume weakens, it may retest support near $3,100, returning the trend to a consolidation rhythm. Overall, ETH is short-term bullish, and after a mid-term corrective recovery, the structure has stabilized again, but chasing higher prices requires caution regarding upper resistance and short-term trend changes.

GT (0.08% | Current Price 10.39 USDT)

After a sharp dip to around 9.50, GT showed clear signs of stabilization and staged a strong rebound in subsequent sessions, with the price peaking at 10.65 and returning to its previous trading range. Short-term moving averages (MA5, MA10) formed a bullish alignment during the rebound, driving the price higher, but after facing resistance at the highs, the price pulled back and the moving averages have converged again, indicating the market is entering a short-term consolidation phase. MA30 is exerting some downward pressure, and short-term bulls and bears are temporarily balanced.

From the candlestick structure, the recent rebound featured several medium bullish candles with increased volume, indicating active buying near 10.00, which is an important short-term support zone. However, the price has been repeatedly pressured in the 10.55–10.65 area, with many upper wicks reflecting ongoing selling pressure above. If GT can stand above MA30 and break through 10.50, it could challenge the previous high at 10.65 in the short term; if volume supports, it could even open up further upside.

Conversely, if the price remains suppressed below the short-term MAs and falls back into the 10.30–10.25 range, it may once again test the critical 10.00 support. If this area is lost, a deeper pullback could occur. Overall, GT is in a post-rebound consolidation phase, with a neutral-to-bullish trend, but short-term rhythm requires watching for bullish signals from the moving averages and changes in trading volume.

Daily Token Gainers and Losers

From an overall market perspective, major coins broadly pulled back today. BTC, ETH, BNB, SOL, etc., all saw declines of 1%–4%, indicating a short-term cautious market sentiment. BTC’s decline was relatively mild but failed to lift other coins to maintain strength; some small and mid-cap tokens fell even more, as risk aversion increased.

Stablecoins such as USDT and USDC remained basically stable, reflecting a wait-and-see attitude in the market. Overall, the crypto market showed broad declines today, with weak short-term momentum and lower risk appetite. In addition, tokens like SN, BOBA, and PRIME recorded contrarian gains of over 30% or even 90%, highlighting strong market enthusiasm and capital inflows.

SN SpaceN (+92.46%, Circulating Market Cap $176M)

According to Gate data, the SN token is currently priced at $4.13, up about 92.46% in 24 hours. SpaceN is an all-in-one NFT investment management tool. SpaceN automatically tracks users’ NFT trading profits and losses, allowing users to stay updated on their NFT asset changes. SpaceN aggregates basic NFT project information and updates, making it easy for users to access valuable NFT project data in one place. SpaceN will become a platform for users to establish self-organized DAOs, allowing users to create their own DAOs and sell their own NFTs.

SN showed significantly increased volatility and a rapid surge over the past 24 hours. After trading in a narrow range around $2.2 for a long time, the price suddenly broke out with high volume, surging quickly to a high above $5, forming a classic “low accumulation → explosive breakout” pattern. Multiple large bullish candles during the run-up show concentrated capital inflows, accelerating the rally.

After hitting the high, SN experienced some pullback and sideways trading, but overall still trades well above its pre-breakout range, indicating that even after short-term profit-taking, bullish sentiment remains dominant. There were also several minor intraday spikes, reflecting ongoing active capital and expectations for the rebound to continue.

PRIME Echelon Prime (+53.71%, Circulating Market Cap $75.31B)

According to Gate data, the PRIME token is currently priced at $1.34, up about 53.71% in 24 hours. PRIME is an innovative project built around the Web3 ecosystem, aiming to drive the integration of digital assets, gamified applications, and decentralized networks through blockchain technology. The project focuses on providing users with scalable application scenarios and efficient value transfer systems, while its open protocol design attracts developers to participate in ecosystem building.

PRIME has shown a steady upward trend with volatility over the past 24 hours. The price rose slowly from around $0.90, with several rapid rallies and pullbacks along the way, but with higher lows, indicating continued strengthening of buying power. Especially around the morning session, PRIME surged again with volume, broke through $1.30, and remained in a high consolidation range, showing strong short-term momentum. Overall, PRIME is steadily strengthening amid volatility, with a bullish trend, but increased high-level volatility—watch for the pace of pullbacks.

BOBA Boba Network (+36.88%, Circulating Market Cap $29.55M)

According to Gate data, the BOBA token is currently priced at $0.05983, up 14.05% in 24 hours. Boba, developed by the Enya team as a core contributor to the OMG Foundation, is an Ethereum L2 scaling and enhancement solution. Boba is a next-generation Ethereum Layer 2 Optimistic Rollup expansion solution that lowers gas fees, increases transaction throughput, and expands smart contract capabilities. Boba offers fast exits supported by community-driven liquidity pools, reducing the Optimistic Rollup exit period from 7 days to just a few minutes, while providing LPs with incentivized yield farming opportunities.

BOBA suddenly broke out of a long-term sideways range with increased volume in the past 24 hours, quickly jumping from around $0.044 to near $0.07, showing a clear strong breakout pattern. After a brief surge, there was some volatility and pullback, but it remains in a high zone overall, with bulls in control. Overall, this round of gains was mainly driven by capital inflows and post-breakout sentiment, with strong short-term momentum but larger volatility. Watch the sustainability of high-level consolidation.

Hot Topics Analysis

Canton Network Developer Receives Strategic Investment from Wall Street Giants

Digital Asset (the company behind Canton Network) announced a strategic investment from several heavyweight Wall Street institutions, including BNY, Nasdaq, S&P Global, and iCapital, reflecting traditional finance’s increasing demand for compliant blockchain infrastructure. Canton Network is designed for institutional-grade scenarios, supporting the issuance and trading of tokenized bonds, loans, funds, and other real-world assets under compliance and privacy requirements, and is becoming a key underlying network for Wall Street’s push to bring assets on-chain.

This investment follows Digital Asset’s $135 million funding in June, which also included traditional financial giants such as BNP Paribas, Goldman Sachs, and Citadel Securities. The company said Canton Network now has over 600 participating institutions, further consolidating its position as a core institutional blockchain infrastructure.

XRP Spot ETF Sees 13th Consecutive Day of Net Inflow, Total Approaching $1 Billion

Since its launch on November 14, the spot XRP ETF has continually attracted capital inflows, recording net inflows for 13 consecutive trading days. On December 3, the related funds saw an additional $50.27 million in net inflow, bringing the cumulative net inflow to $874 million, making it one of the fastest-growing crypto asset ETFs and showing rapidly increasing acceptance of XRP products in the traditional financial market.

Data shows these funds reached a total trading volume of $31.53 million that day, with noticeably active capital flows. As net inflows continue to climb, the XRP ETF is just one step away from the $1 billion mark, and its strong performance reflects growing investor confidence in XRP as an ETF asset.

JPMorgan: Strategy’s Resilience Will Determine Short-Term Bitcoin Trend; Miner Selling Not the Key Factor

JPMorgan’s latest report states that Bitcoin’s short-term price direction depends more on whether Strategy (MSTR) can maintain its enterprise value-to-held BTC ratio above 1 and continue to avoid selling bitcoin, rather than on miner selling pressure. Although recent declines in network hashrate and mining difficulty have forced miners to sell due to high costs and low profits, analysts believe this is not the key factor influencing the trend. The firm further estimates that Bitcoin’s current production cost is about $90,000, and small changes in electricity prices can significantly affect high-cost miners’ profitability.

JPMorgan’s analyst team also stated that their volatility-adjusted Bitcoin-to-gold comparison model still points to a theoretical price of about $170,000 in the next 6 to 12 months. The report emphasizes that, in the face of price pressure, rising costs, and regulatory factors, the main market focus remains on Strategy’s balance sheet and whether it will be forced to sell its Bitcoin holdings during volatile cycles.
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
• Gate, https://www.gate.com/price
• Gate, https://www.gate.com/launchpool/BSU?pid=355
• Defillama, https://defillama.com/revenue/chain/solana
• The block, https://www.theblock.co/post/381442/jpmorgan-strategy-bitcoin-price-outlook
• Coindesk, https://www.coindesk.com/markets/2025/12/04/xrp-etfs-extend-record-inflow-streak-to-13-days-closing-in-on-usd1b-milestone

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