Crypto Market Overview

• BTC (-1.30% | Current Price: 106,810 USDT): Today’s decline is a normal correction due to the previous notable upward trend of BTC. Technical analysis shows that BTC still has strong support at the 106,000 level, with trading volume remaining relatively stable. On June 30th, BTC ETF saw an inflow of $102 million, with BlackRock’s IBIT receiving an inflow of $112 million, while Ark’s ARKB experienced an outflow of $10.2 million.
• ETH (-1.77% | Current Price: 2,455 USDT): ETH accelerated its decline, breaking through the key support level of 2,500 USDT. The trading volume indicates a downward trend with increased volume. The 2,420 USDT level will be its key support. On June 30th, ETH ETF saw a net inflow of $31.8 million, with BlackRock’s ETHA receiving an inflow of $6.1 million, and Fidelity’s FETH an inflow of $25.7 million.
• Altcoins: The market is currently in a consolidation phase. The Fear and Greed Index currently stands at 63, indicating a neutral to slightly optimistic market sentiment.
• Macro Environment: On July 1st, the S&P 500 index rose 0.52% to 6,204.95 points; the Dow Jones Industrial Average increased 0.63% to 44,094.77 points; the Nasdaq Composite gained 0.48% to 20,369.73 points. As of July 1, 2025, at 12:00 PM (UTC), the spot gold price per ounce was reported at $3,331, with a 24-hour increase of 0.86%.

Trending Tokens

PROM Prometeus (+12.91%, Market Cap $115 million)

According to Gate.io market data, the PROM token is currently priced at $6.27, with a 24-hour increase of 12.91%. Prom is a Web3 gaming ecosystem marketplace focused on trading and exchanging NFT assets, offering decentralized NFT leasing and collateralized loans using smart contract wallets. It also provides a range of other services, including an NFT trading marketplace and aggregator, educational portal and analytical tools, a decentralized exchange for GameFi assets, and asset management tools, helping any NFT gaming enthusiast benefit from entering the blockchain world.

Recently, the PROM project has not had any major updates. On June 30th, the project posted a tweet on social media saying “Stay bullish for the next week.” Influenced by this news, the PROM token achieved over 12% growth in the past 24 hours. Looking at the K-line chart, PROM has achieved 6 consecutive days of gains on the daily chart, showing strong price momentum with strong support between $5.4 and $5.5.

BCH Bitcoin Cash (+4.66%, Market Cap $10.386 billion)

According to Gate.io market data, the BCH token is currently priced at $524.5, with a 24-hour increase of 4.66%. Bitcoin Cash (BCH) is a cryptocurrency launched by ViaBTC based on the Bitcoin ABC proposal, created from a hard fork of the original Bitcoin chain in 2017. Its highlights include on-chain scaling, new transaction signatures, a new difficulty adjustment algorithm, and decentralized development. BCH follows Satoshi Nakamoto’s scaling roadmap, aiming for global adoption.

The price increase of BCH in the past 24 hours is mainly driven by technical factors. BCH successfully broke through the key resistance level of $520, which had been difficult to surpass in the previous two months, and turned it into support. The price currently remains above the resistance level, showing strong bullish momentum.

ALGO Algorand (+3.55%, Market Cap $1.636 billion)

According to Gate.io market data, the ALGO token is currently priced at $0.189, with a 24-hour increase of 3.55%. Algorand is a public, open-source blockchain based on the Pure Proof-of-Stake (PPoS) consensus protocol, developed by the Algorand Foundation. Algorand was created by renowned cryptographer, leading cryptography researcher, and 2012 Turing Award winner Silvio Micali. The key feature that makes Algorand highly scalable is its PPoS consensus mechanism. This protocol allows it to process multiple transactions quickly without sacrificing decentralization.

Recently, the Algorand project has not had any major updates. The rise in the ALGO token price is mainly due to market rotation and a rebound after several months of continuous decline. In January 2025, the ALGO token price reached a periodic high of $0.4, after which it continued to fall to the $0.15 level.

Alpha Insights

Robinhood Plans to Launch Layer 2 Blockchain and Offer “Stock Tokens” in EU

Online brokerage company Robinhood has announced that it will allow EU clients to trade US stocks and ETFs on the blockchain. These assets, called “Robinhood Stock Tokens,” will enjoy zero commission, and holders will receive dividends within the broker’s app. Additionally, Robinhood plans to transfer these tokenized stocks to its own Layer 2 blockchain, reportedly “based on Arbitrum,” which typically processes transactions faster and more efficiently.

Robinhood’s move into the European market could significantly promote the adoption of RWAs (Real World Assets). Its innovative stock tokenization scheme lowers the entry barrier to traditional finance through zero-commission models and on-chain dividend distribution. By building a dedicated Layer 2 chain based on Arbitrum technology, the platform can not only improve transaction efficiency but also potentially reshape the infrastructure standards for security tokens. This attempt to deeply integrate traditional stocks with blockchain characteristics may catalyze more financial institutions to explore compliant application scenarios for RWAs, accelerating the process of global securities market liquidity migration to the blockchain.

Circle Applies for US Banking License to Custody USDC Reserves

According to Reuters, stablecoin issuer Circle has applied for a US national banking license, which would allow it to act as a custodian for USDC reserves and hold crypto assets for institutional clients. However, the license would not allow Circle to accept cash deposits or issue loans like traditional banks. Circle plans to name the entity regulated by the US Office of the Comptroller of the Currency (OCC) as First National Digital Currency Bank, N.A.

Circle’s application for a US national banking license lays an important foundation for the long-term development of its stablecoin USDC, demonstrating its ambition on the path of compliance and institutionalization. After obtaining the license, Circle’s ability to act as a custodian for USDC reserves and provide crypto asset custody services for institutional clients will be significantly enhanced, potentially further consolidating USDC’s leading position in the stablecoin market, especially its competitiveness in institutional adoption and cross-border payment scenarios. In the future, Circle will need to continuously optimize its compliance framework against the backdrop of tightening global regulations, while promoting the expansion of USDC’s application scenarios in DeFi, cross-border trade, and emerging markets.

Polygon Labs and GSR Jointly Launch Katana Blockchain, Focusing on DeFi

Polygon Labs and crypto market maker GSR have jointly launched Katana, an Ethereum Layer 2 blockchain focused on DeFi, aiming to solve the problems of on-chain asset fragmentation and unsustainable yields driven by high inflation. Katana adopts a centralized screening mechanism, supporting only a few financial applications, and uses the VaultBridge protocol to recycle user assets back to the Morpho protocol on Ethereum for low-risk lending. The resulting yields are then returned to Katana to enhance the yield levels of key applications.

With its DeFi-focused strategic positioning and innovative mechanisms, Katana demonstrates strong market prospects and development potential. Its strategy of carefully selecting financial applications effectively focuses resources and optimizes on-chain liquidity and capital efficiency, which may attract institutional and high-net-worth users seeking stable returns and low-risk investments. In the future, its key to development lies in whether it can continuously attract high-quality DeFi projects, optimize user experience, and maintain technical stability and security in large-scale adoption. If it can establish differentiated advantages in the highly competitive Layer 2 market, Katana has the potential to become one of the core infrastructures in the DeFi sector of the Ethereum ecosystem.

Gate Launchpool

Launchpool Details

• Project: Fragmetric
• Token: FRAG
• Start Time: July 1, 2025, at 12:00 (UTC)
• Participation: Stake BTC or FRAG to receive tokens for free
• Total Mining Rewards: 750,000 FRAG

Project Overview

Fragmetric was initially Solana’s first native liquidity (re)staking protocol, later evolving into the advanced FRAG-22 asset management standard. This new standard seamlessly integrates multi-asset deposits, precise reward distribution, and modular yield sources, enabling developers and users to efficiently access complex DeFi strategies. Fragmetric plans to integrate more DeFi protocols and collaborate with Jito Staking and NCN projects such as Squads Protocol, Switchboard, Sonic SVM, and Ping Network to drive the expansion of the Solana ecosystem.


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/crypto-market-data
• Investing, https://investing.com/indices/usa-indices
• Investing, https://investing.com/currencies/xau-usd
• CoinGecko, https://www.coingecko.com/categories
• babylonlabs, https://babylonlabs.io/blog/babylon-genesis-dual-vm-model
• Maeil Business Newpaper, https://www.mk.co.kr/en/economy/11355281
• X, https://x.com/Metaplanet_JP/status/1939512334621573515
• Gate, https://www.gate.com/launchpool/BLUM?pid=329

Gate Research is a comprehensive platform offering in-depth blockchain and cryptocurrency research, including technical analysis, market reviews, trend forecasts, and macroeconomic insights.

Disclaimer
Investing in cryptocurrency markets involves high risk. Users are advised to conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such decisions.