Announcements Gate Research: Symbiotic TVL Surpasses $1.5 Billion, BlackRock’s BTC Spot ETF Records Net Outflows in a Day

Gate Research: Symbiotic TVL Surpasses $1.5 Billion, BlackRock’s BTC Spot ETF Records Net Outflows in a Day

2024-09-02 13:28:28 UTC 7898 Read

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Gate Research Daily Report: September 2, BTC and ETH prices have recently pulled back, with Bitcoin dropping to $57,500 and Ethereum falling to $2,435. On August 30, Bitcoin ETFs experienced a net outflow of $175 million. Market contract liquidations were predominantly on long positions, with total network liquidations exceeding $130 million. Bitcoin miners' revenue reached a new annual low in August. Symbiotic's Total Value Locked (TVL) surpassed $1.5 billion. WazirX plans to discuss restructuring and pause applications. Following the Self Chain rebranding, the total token supply inflated, leading to protests within the community. Additionally, multiple projects secured significant funding, with the largest raise being $4 million and total financing amounting to $11.25 million.

**Market Analysis:** Both Bitcoin and Ethereum experienced declines, with Bitcoin falling to $57,500 and Ethereum to $2,435.
**Top Performers:** The top-performing tokens over the past 24 hours were CXT, ACA, and REEF.
**Data Highlights:** Symbiotic's TVL surpassed $1.5 billion, marking a 23.55% increase over the past month.
**Spotlight Analysis:** BlackRock’s Bitcoin spot ETF, IBIT, saw its first net outflow since May. 
**Market Opportunities:** Six projects announced funding rounds, raising a total of $11.25 million across sectors like gaming, payments, and Web3 services.

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September 3rd, 2024

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