Gate Research Institute: The Token has risen over 40% since its PUMP launch | BTC breaks 120,000 USD to set a new historical high

Crypto Market Overview

• BTC (-1.27% | Current Price 118,263 USDT): BTC today once strongly broke through the 120,000 USDT integer level, with the highest price reaching above 123,000 USDT, significantly refreshing its historical high. However, BTC did not stabilize at 120,000 USDT and has pulled back to 118,000 USDT. On July 14, BTC ETF inflow was 294 million USD, of which BlackRock IBIT inflow was 394 million USD, and ARKB outflow was 99.6 million USD.
• ETH (-0.64% | Current Price 2,976 USDT): Compared to BTC, ETH has previously attempted to breach the critical level of 3,000 USDT multiple times, but has failed each time. Today, ETH has also briefly surpassed the critical level of 3,000 USDT several times, yet still cannot maintain this position. On July 14, ETH ETF inflows totaled 259 million USD, with BlackRock's ETHA accounting for 151 million USD and Fidelity's FETH contributing 31.4 million USD.
• Altcoins: The overall market is currently in an upward phase. The Fear and Greed Index today reports at 72, indicating that market sentiment remains optimistic.
• Macro: On July 15, the S&P 500 Index rose by 0.14% to 6,268.56 points; the Dow Jones Index increased by 0.20% to 44,459.65 points; the Nasdaq Index went up by 0.27% to 20,640.33 points. As of July 15, 10:45 (UTC+8), the spot gold price is temporarily reported at 3,349 USD per ounce, with a 24H increase of 0.17%.

Trending Tokens on Juejin

PUMP Pump.fun (+44.85%, circulating market cap 2.05 billion USD)

According to Gate's market data, the current price of the PUMP token is $0.0058, with a 24-hour increase of 44.85%.

Pump.fun is an innovative meme coin creation and trading platform based on the Solana blockchain, allowing users to quickly create and launch their own tokens at a very low cost, without the need for a technical background or providing liquidity for instant trading. Through a fair launch mechanism and bonding curve pricing model, the platform ensures transparency and market fairness, encouraging the community to drive token development through social interaction. Since its launch in early 2024, Pump.fun has facilitated the creation of over 10 million meme coins.

On July 15th, the PUMP token has been launched on major mainstream crypto exchanges. Previously, the subscription price of the PUMP token was $0.004. After its launch, the price of the PUMP token once broke through $0.006, and it has now fallen back to $0.0058.

XCN Onyxcoin (+15.14%, circulating market value 675 million USD)

According to Gate.io market data, the current price of the XCN token is $0.019, with an increase of 15.14% in the last 24 hours.

Onyxcoin is a decentralized finance (DeFi) platform based on the Ethereum blockchain, dedicated to providing secure and transparent peer-to-peer lending and asset management services through smart contracts. XCN, as a governance and utility token, allows holders to participate in voting within the Onyx DAO to decide on protocol upgrades and community plans, while also being used to pay for platform service fees, obtain discounts, and earn rewards through staking. The Onyx protocol supports multiple digital assets, including ETH, ERC-20 tokens, and NFTs, aiming to enhance the efficiency and scalability of financial services through decentralized cloud infrastructure and cross-chain bridging technology.

On July 12, Onyx's official social media announced that OIP-60 has been approved, which will activate Onyx points for XCN stakers on Ethereum and deploy the Onyx gas-free wallet, and it is currently in the queue. This OIP will be executable in about 48 hours. This positive news may drive the recent increase in XCN.

PENGU Pudgy Penguins (+9.19%, circulating market cap 1.99 billion USD)

According to Gate.io market data, the current price of PENGU token is $0.031, with a 24-hour increase of 9.19%.

Pudgy Penguins is one of the most well-known NFT projects in the cryptocurrency field, born in July 2021. It quickly gained popularity with its unique "cute penguin" image and community culture. This NFT series consists of 8,888 penguins. The PENGU token, as the official social token of Pudgy Penguins, is creating a new wave in the crypto market. This token, originating from a well-known NFT project, is not just an ordinary digital asset; it represents a vibrant community and cultural phenomenon.

On July 15, Pudgy Penguins' ecological game Pudgy Party has been launched on Apple's and Google's app stores, and through official social media, an event has been initiated to gift a total of $5,000 worth of PENGU tokens to 5 lucky users to attract community participation. The release of this game marks a significant advancement for the Pudgy ecosystem, enriching the application scenarios of the ecosystem, and may enhance the demand for token usage and community activity, thereby driving up the price of PENGU.

Alpha Interpretation

Aave's net deposits surpassed $50 billion, becoming the first DeFi protocol to reach this milestone.

Aave's net deposits have surpassed $50 billion, becoming the first DeFi protocol to reach this scale. This data accounts for its total collateral assets across 34 chains minus the outstanding loan amounts. The founder of Aave stated that more and more traditional financial institutions are starting to use it as lending infrastructure. Data shows that since December 2024, the total locked value (TVL) in the DeFi industry has approached $120 billion, with Ethereum's lending operations dominating, locking over $63 billion. According to DefiLlama, Aave's current TVL is approximately $29 billion, nearly half of the sector.

It is reported that the Aave governance community is advancing several upgrade plans such as "Aave V4", intending to introduce account abstraction and a native real-world asset treasury, while planning to support Bitcoin Layer 2 assets and expand the stablecoin GHO to more blockchain platforms. These upgrades will further consolidate Aave's leading position in the DeFi field and promote its long-term development in the multi-chain ecosystem and the integration with traditional finance.

Trusta has reached a strategic partnership with Solana to jointly build on-chain identity infrastructure.

Trusta announced a strategic partnership with Solana on the Solana Attestation Service (SAS) and received infrastructure funding (Infra Grant) from the Solana Foundation. As one of the founding members of SAS, Trusta will work with the Solana Foundation to promote the establishment and implementation of decentralized identity (DID) and verifiable credential (VC) standards within the Solana ecosystem. Both parties will work together to expand the application scenarios of SAS, helping Solana build a verifiable, privacy-friendly identity framework for DeFi, social interactions, and on-chain reputation systems.

The strategic partnership between Trusta and Solana is a milestone in promoting the development of decentralized identity solutions. By jointly establishing standards for Decentralized Identifiers (DID) and Verifiable Credentials (VC), it lays the groundwork for a more secure and privacy-focused blockchain environment for users. This collaboration will bring new opportunities to the Solana ecosystem, enhancing the experience of DeFi and social applications while infusing new vitality into on-chain reputation systems. Looking ahead, this partnership is expected to set a benchmark in the broader blockchain and DeFi space, leading a new trend in decentralized identity technology.

Kazakhstan Central Bank: Plans to explore investing gold foreign exchange reserves and national fund assets into encryption.

Timur Suleimenov, the governor of the Central Bank of Kazakhstan, stated that the country plans to explore allocating its gold foreign exchange reserves and national fund assets to encryption currencies. However, he reminded that while the returns on encryption assets are high, their volatility is also significant, and one should not act hastily. In addition, Kazakhstan also hopes to establish a national encryption asset reserve to store confiscated digital assets. If enterprises represent the state in mining, some assets may be included in the reserve through taxation and other means.

The speech by the Governor of the Central Bank of Kazakhstan, Timur Suleimenov, has far-reaching implications for the crypto market and the country's financial policies, pointing the way for future development. Kazakhstan may further improve relevant regulations, establish cryptocurrency exchanges and other infrastructure, gradually integrating into the global encryption economic system, injecting new momentum into economic growth, and playing a more active role in the digital economy and international financial cooperation.

Gate Launchpool

New Subscription Details

• Subscription Project: Velvet
• Token Name: VELVET
• Deadline: July 15, 2025 20:00 (UTC+8)
• Participation method: Stake ETH or VELVET to receive for free
• Total airdrop amount: 500,000 VELVET

Project Introduction

Velvet is a DeFAI operating system designed to simplify on-chain research, trading, and portfolio management. The Velvet application has launched on the BNB Chain, Base, Solana, Ethereum, and Sonic, with over 100,000 users trading and executing DeFi strategies. It integrates a multi-agent AI Co-Pilot that can use natural language to help users discover, analyze, and execute new investment opportunities. Velvet's infrastructure also allows others to create tokenized DeFi strategies and manage them via UI or API, with over 10,000 vaults currently created by KOLs, traders, and crypto hedge funds.
Reference:

• Gate, https://www.gate.com/trade/BTC_USDT
• Gate, https://www.gate.com/zh/trade/ETH_USDT
• Farside Investors, https://farside.co.uk/btc/
• 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
• The Block, https://www.theblock.co/post/362412/aave-deposits-tvl
• X, https://x.com/TrustaLabs/status/1944640222601658368
• kursiv, https://kz.kursiv.media/2025-07-11/zhzh-reservi-kz-hotyat-investirovat-v-cryptoaktivi/
• Gate, https://www.gate.com/zh/announcements/article/46057

Disclaimer Investing in the crypto market involves high risks, and users are advised to conduct independent research and fully understand the nature of the assets and products purchased before making any investment decisions. Gate does not accept any responsibility for any losses or damages caused by such investment decisions.