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Gate Research Daily Report: On January 5th, under the combined push of widespread gains across global markets and the classic January effect, the crypto market staged a broad recovery. BTC completed a high-level breakout and continued to show strong momentum, while ETH followed steadily but has not yet entered an independent acceleration phase. Overall market sentiment remained restrained, with the Fear & Greed Index still sitting firmly in the “Fear” zone. Intraday focus centered on the clear reheating of the Solana ecosystem’s Meme sector: PONKE, MSQ, and WOLF all posted substantial gains, driven by rotating narratives, typical small-cap rebound dynamics, and rising community sentiment. On the alpha side, Infinex’s public sale fundraising continues to fall well short of expectations, highlighting the growing divergence between current token issuance environments and actual market heat. At the same time, Solana is set to roll out its Alpenglow consensus-layer upgrade in the near term, further strengthening i

This report systematically traces the evolution of crypto wallets from private key management tools in the Bitcoin era to becoming the central gateway to on-chain finance. It reviews how successive waves — including DeFi Summer, inscriptions, memes, and on-chain derivatives — have continuously expanded the functional boundaries of wallets, driving their transformation from passive asset management tools into All-In-One on-chain platforms resembling CEXs. The report also analyzes the breakthroughs in wallet monetization across asset issuance, trading, and distribution scenarios.

Looking ahead to early 2026, with marginal improvements in macro liquidity and implied volatility (IV) at relatively low levels, the market may enter a high-level consolidation and accumulation phase. Should trading volume and realized volatility rebound in tandem, BTC and ETH could see a phase-wise upside breakout.

Gate Research Daily Report: On December 31, the crypto market saw a mild recovery with a slight uptick in risk appetite. BTC and ETH traded on the stronger side of their respective ranges, with BTC consolidating between $88,000–$89,000 and awaiting a directional breakout, while ETH held firmly in the $2,950–$3,000 zone, showing relatively stronger structure as its consolidation phase approaches an inflection point. On the sector front, ELIZAOS, CC, and RECALL posted notable gains driven respectively by AI Agents, RWA institutional partnerships, and AI trading competitions. Structurally, the market cap of tokenized equities reaching new highs and a rebound in ETH staking demand are key positive signals at this stage, though the sustainability of this trend remains contingent on market sentiment and the actual delivery of expected catalysts.

Gate Research Daily Report: Bitcoin continues to trade within a narrow range, having faced resistance near the $90,000 level four times since mid-December. Recent price action in Ethereum suggests a clear shift toward a wait-and-see market sentiment, with bullish momentum weakening while bears have yet to take effective control. ZEROBASE surged 61.82%, mainly driven by sector rotation into privacy-focused tokens, while ZRT gained 27.80%, largely fueled by investor sentiment. The RWA sector’s TVL has surpassed that of DEXs, ranking as the fifth-largest vertical in DeFi. Bitcoin’s year-end rebound toward $90,000 has lost momentum amid insufficient demand and weakening on-chain activity. Meanwhile, as silver prices surged to record highs, trading volume in tokenized silver increased by more than 1,200%.

Gate Research Daily Report: On December 29, during the low-liquidity environment caused by the overlap of the Christmas holiday and the upcoming New Year, the crypto market continued its structurally corrective trend. BTC rebounded above $88,000, while ETH is hovering near the $3,000 mark, with market sentiment remaining cautious. In terms of daily highlights, TOKEN, TAKE, and RIVER were active due to speculation, staking incentives, and product mechanism drivers. On the Alpha side, Polymarket Builders’ weekly trading volume hit a record high of $50 million; Uniswap completed the historic burn of 100 million UNI and pushed forward its fee redistribution mechanism; Solana co-founder Toly expressed optimism with a prediction that stablecoin market size would surpass $1 trillion.

Gate Research Daily Report: On December 25, BTC first experienced a clear pullback before staging a rebound, while ETH underperformed BTC overall. After rebounding into the USD 2,960–2,980 range, ETH failed to hold its gains and quickly retreated. GT remained relatively stable over the past 24 hours, with prices mainly oscillating between USD 10.10 and USD 10.25, while CHEEL drew market attention with a surge of up to +97.10%. Meanwhile, XRP ETF net assets surpassed USD 1.25 billion, though the price continued to trade within a narrow range. ZachXBT revealed a vulnerability in the Trust Wallet browser extension, resulting in losses of at least USD 6 million for users. In addition, BTC spot ETFs recorded continued net outflows over the past week, signaling a noticeable weakening in short-term market sentiment.

Gate Research: BTC and ETH remain in a weak consolidation phase, with price levels trending lower and rebounds lacking sustainability. Periodic spikes in volatility indicate that market sentiment remains fragile and highly sensitive to key price levels. On the derivatives side, following the earlier deleveraging cycle, fresh capital has yet to return meaningfully, with open interest staying at relatively low levels; liquidation dynamics continue to be skewed toward long positions, suggesting that confidence has not fully recovered and that near-term risks of further consolidation or pullbacks persist. From a quantitative strategy perspective, moving-average trend breakout models demonstrate solid trend-capturing capability in assets such as DOGE, ADA, and SOL, though they may be constrained by signal lag during fast, one-sided market moves.

Gate Research Weekly Report: Bitcoin’s short-term trend remains bearish, while Ethereum is also trading within a downtrend channel, indicating that market direction is still uncertain. BEEFI surged 31.72%, mainly driven by technical momentum, while ZBT rose 35.50% following a strategic-level technical upgrade. Bitcoin options are set for a concentrated expiry this Friday, marking the largest expiration on record. Nvidia acquired AI chip startup Groq in its largest acquisition to date. Maple Finance completed a record-breaking single loan of $500 million. Polymarket stated that the recent user account breach was caused by a third-party vulnerability, which has now been fixed. HYPE, SUI, and SVL are scheduled to unlock approximately $246 million, $61.61 million, and $12.67 million worth of tokens respectively over the next seven days.

Gate Research Daily Report: On December 24, the crypto market remained in a weak consolidation phase, with risk appetite staying subdued. BTC traded within the $87,500–88,000 range, where downside momentum showed marginal easing but overhead resistance remained intact; ETH stabilized near $2,900 and rebounded into the $2,950–2,970 range, indicating a recovery-driven move rather than a trend reversal. In terms of market highlights, CXT surged sharply amid infrastructure-related developments and low circulating supply dynamics, ICNT advanced on the back of enterprise adoption progress and renewed cloud infrastructure narratives, while PIPPIN’s gains were largely driven by technical breakouts and short-term speculative flows. Structurally, easing OTC selling pressure suggests the de-risking phase is approaching its later stages, while the Solana ecosystem is showing a bifurcated trajectory, shaped by financing pressure at Upexi on one hand and the introduction of yield-bearing treasury assets via OpenEden on the

Gate Research Daily Report: Bitcoin remains in a consolidation phase. After briefly breaking above the $90,000 level on Monday, it retreated again. Ethereum is trading sideways around the key $3,000 psychological level, with a slight increase in trading volume. PORTAL surged 22.65%, reflecting market optimism toward its institutional infrastructure development. EPIC’s rally was driven by a technical rebound from recent lows, rising 14.63% over the past 24 hours. LazAI’s Alpha mainnet has officially gone live, marking a key milestone as it transitions from testnet to a production-ready, AI-native blockchain. Velo announced a strategic partnership with WLFI to integrate the USD1 stablecoin into the Velo ecosystem, strengthening its PayFi infrastructure.

Gate Research Daily Report: On December 22, BTC stabilized and rebounded quickly after a sharp pullback, currently consolidating in the 88,800–89,000 range; ETH also recovered swiftly after plunging to around $2,775 in the previous drop; GT shows a rebound-from-lows structure with a mildly bullish bias; and RAVE became the standout performer with gains of up to +84.45%. Meanwhile, an address poisoning scam resurfaced, resulting in a crypto user losing $50 million in USDT; Hilbert Group acquired Enigma Nordic for $25 million to further expand its institutional crypto trading strategy; and a Tether executive–linked entity’s acquisition of Northern Data’s Bitcoin mining business has drawn market attention.

From December 2 to December 15, 2025, global markets exhibited divergent performance. Despite the Fed delivering a rate cut as expected, policy disagreements and expectations of a pause in further easing weighed on risk appetite. BTC and ETH remained in a consolidation phase, while higher-beta assets outperformed. Tokens related to AI applications and privacy computing showed notable strength, whereas narratives around new public blockchains and stablecoins underperformed. Volume–price dynamics were clearly fragmented, with the market still dominated by short-term trading, although structural opportunities remain. Meanwhile, sectors such as node-based networks, incentivized testnets, and community point systems continued to heat up, with projects accelerating early user acquisition through airdrops and point-based incentives. This article outlines the key participation pathways to help users position at low cost and capture potential upside from upcoming mainnet launches, token distributions, and ecosystem ex

Gate Research Daily Report: On December 19, the crypto market pulled back broadly after the initial CPI-driven surge, with risk appetite continuing to cool. BTC spiked above $89,000 before retreating, maintaining its bearish structure and oscillating at lower levels; ETH showed weak rebound momentum, consolidating under pressure in the $2,800–3,000 range. Altcoin sentiment remains subdued, with the market focused primarily on proactive de-risking and defensive positioning. In terms of hotspots, low-cap tokens like JELLYJELLY and NBLU bucked the trend and gained strength amid speculative fervor, while IR rose on new listings and exchange-related activity. Meanwhile, the impending expiry of $23 billion in BTC options, Lido DAO's application for a $60 million ecosystem budget, and JPMorgan's conservative outlook on stablecoin growth potential have emerged as key variables influencing both short-term and medium-term expectations.

This report provides a deep analysis of the rapidly emerging private automated market makers—Prop AMM—within the Solana ecosystem. The study shows that Prop AMM now accounts for 20%–40% of Solana DEX weekly volume and has captured over 80% market share in core SOL-Stablecoin pairs. The report dissects the core mechanisms of Prop AMM, including its “Oracle + Solver” hybrid pricing model, MEV resistance, and elimination of impermanent loss, and compares the strategies and performance of leading players such as HumidiFi and Tessera V, revealing the professional moat built through proprietary capital, closed strategies, and ultra-tight spreads.