- Market Commentary: This week, BTC fell 1.99%, with MACD histogram narrowing and a bearish crossover forming at the top, signaling weakening bullish momentum. ETH dropped 7.69%, with a MACD bearish crossover indicating sellers have regained control. Some DeFi sectors bucked the trend. Overall, major altcoins underperformed, with only a few posting gains. The IP and Perpetuals sectors stood out, rising 14% and 149%, respectively.
- Weekly Highlights: Gate Launches Gate Layer Layer-2 Network, Fully Upgrades GT Ecosystem and Deflationary Mechanism. SUI Group disclosed large SUI holdings and a stock buyback, with a total market value of about $359M, making it one of the largest publicly known holders of SUI. Ethereum’s Fusaka upgrade focuses on data availability and security, while PeerDAS ushers in a new chapter of Layer 1 scalability.
- Data Highlights: Over 370,000 traders were liquidated, totaling $1.8B—the largest long liquidation event since September 2021. Ethena TVL surpassed $16B, reaching a new all-time high, as Ethena Labs launched USDe and staked sUSDe on Avalanche, marking a major cross-chain expansion. AVNT surged 117% over the week, with daily trading volume exceeding $7B, while TVL jumped from $19.68M to $24.99M.
- Next Week to Watch: SUI, EIGEN, and PARTI are set to unlock approximately $146M, $6.591M, and $26.62M in tokens respectively over the next 7 days, representing 1.23%, 10.89%, and 78.44% of their circulating supply, which may exert short-term selling pressure.
Discover more details today → Gate Research: Ethena TVL Hits New High | Gate Launches Gate Layer L2 Network
Gate Research is a comprehensive blockchain and cryptocurrency research platform that provides in-depth research and analysis for readers, including technical analysis, market insights, industry research, trend forecasting, and macroeconomic policy analysis.
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