Macro Trends

Gate Research (April 11 – 17, 2025) : This report provides a comprehensive analysis of key developments in the cryptocurrency market and macroeconomic landscape. On April 11, U.S. March PPI came in at 2.7% year-over-year, falling short of both the expected 3.3% and the previous reading of 3.2%. On April 14, the SEC held its second crypto roundtable and announced plans to launch a "crypto regulatory sandbox." On April 15, Canada is set to debut its first spot Solana ETFs, which will allow staking for yield generation. On April 16, it was revealed that only 11% of registered Bitcoin companies in El Salvador are currently operational. On April 17, Federal Reserve Chair Jerome Powell delivered hawkish remarks, indicating that economic policy remains unclear and that crypto regulations may ease. On the same day, Panama approved the use of cryptocurrency for payments in government institutions, becoming the first public authority globally to do so.

Gate Research Weekly Report: This week, cryptocurrency prices entered a recovery phase after a rebound, maintaining a consolidation range. Soneium collaborated with EigenLayer to launch a 10-second Fast Finality Layer, marking a significant improvement in L2 performance. KiloEx fell victim to a flash loan attack losing $7 million, highlighting ongoing DeFi security concerns. Bitcoin miners sold more than 40% of their March BTC production, while sUSD faced an escalating depegging risk that sparked market panic. In a positive development, Panama's capital city became the first to accept cryptocurrency for payments.

Compared to the bell curve distribution that technology adoption usually follows, there is a disproportionately high percentage share of those pioneering crypto AI adoption. This can be attributed to self-selection bias from participants already interested in crypto AI, but may also indicate that crypto AI adoption is still dominated by tech enthusiasts and has yet to gain mainstream traction, even within the crypto industry.

Thus far, the only products that have been produced by crypto, and accepted by the rest of the financial system, are stablecoins and Bitcoin. DeFi is yet to take off meaningfully outside of crypto and decouple from trading volumes.

Gate Research Daily Report: April 15, Bitcoin at $85,284, Ethereum at $1,641.76. Digital asset funds see $7.2B in 3-week outflows. Canada to launch first Solana spot ETFs with staking. Ethereum leads Q1 dApp revenue with over $1B. Bitcoin implied volatility surges as markets remain uncertain on trade policy. JPMorgan launches GBP blockchain accounts to expand global settlement capabilities.

The U.S. dollar not only dominates global trade, but has also become a hidden economic weapon. Whoever controls the dollar, controls the lifeline of the global economy. What’s even more concerning is that this war will expand from the domain of commodities to that of currencies—a global currency devaluation race is now underway.

This article explores the key trends and challenges in the current cryptocurrency market. The author analyzes Bitcoin's position under macroeconomic pressure, discussing the debate over whether it's a risk asset or a safe haven. The article also evaluates Ethereum's current development status and its potential as a productive asset. Additionally, the article discusses emerging productive assets like Hyperliquid's HYPE, and the evolution of DAO governance models. Given the current uncertain macroeconomic environment, the author suggests focusing on development opportunities in new projects.

Gate Research Daily Report: April 14, Bitcoin declined to $84,514, while Ethereum fell to $1,619. Despite the broader market pullback, on-chain activity remains strong, with Ethereum setting a new record by processing $1.18 trillion in stablecoin transfers over the past 30 days—highlighting continued capital flow and user engagement. In contrast, the NFT market continues to shrink, as both trading volumes and active user numbers have declined sharply. The SEC has proposed a new crypto regulatory sandbox, signaling a potential shift toward more flexible and innovation-friendly policymaking. At the same time, Pump.fun has seen its daily trading volume collapse by 99%, and its token "graduation rate" has slowed significantly, reflecting a cooling of speculative fervor on the Solana network. Amid these developments, Gate.com has announced a major brand revamp, unveiling its new Chinese name "Damen" (meaning "The Gate"), which represents its commitment to embracing the next wave of growth in the Web3 era.

Exploring Trump's tariff strategy and its impact on global markets, power dynamics, and economic manipulation.

Gate Research Daily Report: On April 10, Bitcoin fell to $79,733 and Ethereum to $1,535. Gate.com released its Q1 2025 report. Trump repealed crypto tax rules, marking the first official crypto legislation. Tokenized gold trading volume hit a two-year high. AVAX may gain mainstream ETF access, and top altcoins XCN, AERGO, and ZRC posted notable gains.

A new 2025 survey reveals that around 55 million Americans hold crypto assets, spanning all age groups and income levels, with over 70% saying it has improved their lives. Discover how digital assets are entering the mainstream, reshaping payments and investments.

The article analyzes in detail the direct effects of tariffs, including increasing national revenue, reducing global production efficiency, and the stagflation effect on the global economy. At the same time, it explores the indirect effects of tariffs, such as the responses from taxed countries, exchange rate fluctuations, and adjustments in monetary and fiscal policies.

This report offers an in-depth analysis of the multifaceted ways tariffs are influencing crypto markets, specifically focusing on liquidity conditions, mining economics, capital flows, monetary fragmentation, and Bitcoin's evolving role in the global financial order.

This article offers a deep dive into the 2025 altcoin season. It examines a fundamental shift from traditional BTC dominance to a narrative-driven dynamic. It analyzes evolving capital flows, rapid sector rotations, and the growing impact of political narratives – hallmarks of what’s now called “Altcoin Season 2.0.” Drawing on the latest data and research, the piece reveals how stablecoins have overtaken BTC as the core liquidity layer, and how fragmented, fast-moving narratives are reshaping trading strategies. It also offers actionable frameworks for risk management and opportunity identification in this atypical bull cycle.

Gate Research Weekly Report: This week, BTC and ETH prices remained range-bound under the influence of tariff policy developments. Trump's announcement of a 90-day suspension on tariffs for most countries briefly lifted global market sentiment, with Bitcoin briefly surpassing $82,000 and demonstrating strengthened appeal as a hedge asset. Meanwhile, the SEC approved options trading for spot Ethereum ETFs, opening new channels for institutional investors to participate in the Ethereum ecosystem—potentially signaling deeper structural changes ahead. On the technical front, Bitcoin's average daily hashrate exceeded 1 Zetahash/s for the first time, marking a new high in both network security and decentralization. Filament Finance was hit by a security breach resulting in losses of over $570,000, exposing weaknesses in the security frameworks of emerging projects. Lastly, the Babylon blockchain is officially launching its mainnet today, potentially opening a new chapter for Bitcoin staking applications.