Announcements Gate Research: Robinhood Plans to Launch Layer 2 Blockchain | Circle Applies for U.S. Banking License

Gate Research: Robinhood Plans to Launch Layer 2 Blockchain | Circle Applies for U.S. Banking License

2025-07-01 08:15:37 UTC 58866 Read

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- Market Commentary: BTC and ETH both dropped over 1%, a reasonable correction after the previous token price increase. Technical analysis shows BTC still has strong support at the 106,000 level, with trading volume remaining relatively stable. ETH accelerated its decline, breaking below the key support level of 2,500 USDT. Trading volume shows a trend of increasing volume during the decline, with 2,420 USDT becoming its key support level.
-  Top Tokens: PROM, BCH, and ALGO performed well in the sideways market. PROM token achieved over 12% gain in the past 24 hours. On the K-line chart, PROM has achieved 6 consecutive positive days on the daily timeframe, showing strong price momentum with solid support between 5.4 and 5.5 USD. BCH successfully broke through the key resistance level of 520 USD, which had been difficult to overcome in the past two months, and turned it into support. The price currently remains above the resistance level, indicating a strong bullish trend. The rise of ALGO token is mainly due to market rotation and a rebound after months of continuous decline.
-  Alpha Insight: Online brokerage Robinhood announced it will allow EU clients to trade US stocks and ETFs on the blockchain. Robinhood also plans to move these tokenized stocks onto its own Layer 2 blockchain. Stablecoin issuer Circle has applied for a US national bank charter, which would allow it to act as a custodian for USDC reserves and hold crypto assets for institutional clients. Polygon Labs and crypto market maker GSR have jointly launched Katana, a DeFi-focused Ethereum Layer 2 blockchain, aimed at addressing the fragmentation of on-chain assets and the unsustainability of high inflation-driven yields.
- Gate Launchpool: Gate platform is currently conducting a subscription event for Fragmetric (FRAG). Users can receive a total of 750,000 FRAG tokens for free by staking BTC or FRAG starting from July 1, 2025, at 12:00 (UTC). Fragmetric was initially Solana's first native liquid (re)staking protocol, later evolving into the advanced FRAG-22 asset management standard.

Discover more details today → <a href="https://www.gate.com/learn/articles/gate-research-robinhood-plans-to-launch-layer-2-blockchain-circle-applies-for-u-s-banking-license/9953" target="_blank">Fiserv announces plans to partner with Circle and PayPal to launch a stablecoin, BTFS 4.0 mainnet upgrade nearing completion | Gate Research</a>

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