Crypto Market Overview

BTC ( +0.56% | Current price 114,130 USDT)

BTC price increased by 0.56% over the past 24 hours. After stabilizing above $112,000, BTC started to push upwards, with short-term resistance at $115,000. Looking at trading volume, BTC’s recent volume has decreased. The MACD indicator has not formed a “golden cross” or “death cross” trend in the short term, indicating continued market observation.

Additionally, on August 20th, BTC ETFs saw outflows of $315 million, with BlackRock’s IBIT experiencing outflows of $220 million and Ark’s ARKB seeing outflows of $75.7 million.

ETH ( +3.95% | Current price 4,306 USDT)

ETH rose 3.95% in the past 24 hours, mainly driven by technical oversold recovery and institutional funds taking advantage of lower prices. However, it still faces key technical resistance levels at $4,350 and $4,660.

On August 20th, ETH ETFs saw outflows of $240 million, with BlackRock’s ETHA experiencing outflows of $257 million.

GT ( +1.56% | Current price 17.91 USDT)

In the past 24 hours, the GT token price fell by 5.41%, mainly due to profit-taking in the overall exchange token sector and short-term market sentiment fluctuations. Meanwhile, GT’s trading volume has increased in the last 24 hours, with short-term moving averages showing a trend of breaking above long-term moving averages.

Tokens Heatmap

Most tokens rose yesterday, indicating improved market sentiment. MEME led the crypto market with a 32.41% gain, becoming the market focus; tokens such as CFX, MORPHO, and LINK all increased by over 9%. Among the Top 100 tokens, the median change in the past 24 hours was a 2.92% increase.

CFX Conflux (+11.63%, Market Cap $964 million)

According to Gate.io market data, the CFX token is currently priced at $0.188, with a 24-hour increase of 11.63%.Conflux is a high-throughput public blockchain based on Proof of Work and a layered consensus mechanism, designed to address issues of throughput, scalability, and security faced by current blockchain networks. Conflux employs a layered consensus protocol called “Tree-Graph,” which distributes transactions across different sub-chains for processing, thereby improving system throughput and performance. Conflux also supports smart contracts and decentralized applications (DApps), and provides development tools and SDKs to help developers build applications on the Conflux platform.

The CFX token price surge of over 10% in the past 24 hours is mainly attributed to major cryptocurrency exchanges announcing support for CFX perpetual contracts, boosting market confidence and trading volume. Additionally, the ongoing development of the Conflux ecosystem and collaborations with traditional Chinese financial institutions (such as cross-border payment pilots) may have also contributed to the price increase.

MORPHO Morpho (+11.46%, Market Cap $740 million)

According to Gate.io market data, the MORPHO token is currently priced at $2.26, with a 24-hour increase of 11.46%.Morpho is a lending protocol that combines the current liquidity pool model used in Compound or AAVE with the capital efficiency of a P2P matching engine used in order books. Morpho-Compound improves upon Compound by offering the same user experience, liquidity, and liquidation parameters, but with enhanced APY due to peer-to-peer matching.

The significant increase in MORPHO token price over the past 24 hours may be driven by innovations in its decentralized finance (DeFi) protocol, particularly the application of decentralized Sequencers and zero-knowledge (ZK) technology, which have reduced transaction costs and improved efficiency. Social media discussions about Morpho reshaping on-chain finance have further sparked market attention, attracting investor interest.

LINK Chainlink (+9.30%, Market Cap $17.516 billion)

According to Gate.io market data, the LINK token is currently priced at $25.83, with a 24-hour increase of 9.30%. Chainlink is a decentralized oracle network operating on the Ethereum network, used to bring real-world off-chain data into smart contracts. In simple terms, it provides “eyes and ears” for the blockchain world, capable of delivering real-time financial market prices, weather data, sports results, and other data. The project was founded by Sergey Nazarov in 2017 and officially launched its mainnet in 2019. Its native token, LINK, is used for paying node service fees, staking collateral, and governance incentives.

The LINK token price increase in the past 24 hours is mainly due to the overall recovery in the cryptocurrency market, and the adoption of Chainlink’s data services by institutions may have also contributed to its price performance.

Daily Token Launch

New Token Sale Details

Project: Rekt

Token: REKTCOIN

Subscription Deadline: September 3, 2025, 12:00 (UTC)

Participation Method: Stake BTC, GT, REKTCOIN to receive for free

Total Airdrop: 577,777,777,778 PUBLIC

Project Introduction

The REKT project is a Meme-based, community-driven ecosystem that integrates art, culture, and consumer products such as Rekt Drinks. It targets tech-savvy cryptocurrency enthusiasts and collectors with a sense of cultural engagement.

Hotpot Insights

Hyperliquid Now the World’s Highest Revenue Per Employee Company

Hyperliquid has become the company with the highest revenue per employee globally, with an annualized revenue per employee of $102 million. According to Jeff’s latest interview, Hyperliquid consists of 11 core members, and based on data from the past 30 days, its annualized revenue is approximately $1.127 billion.

Hyperliquid’s astonishing per-employee revenue performance has set a benchmark in the global business arena. This achievement not only demonstrates its efficient business model and technological innovation capabilities but also highlights the enormous potential of small, elite teams in the high-tech financial sector. This event redefines the ceiling for corporate efficiency, challenging the scaled operational logic of traditional large enterprises while setting a benchmark for startups, proving that streamlined teams can achieve exponential growth through technological innovation. Looking ahead, Hyperliquid’s success may further drive the development of the blockchain and DeFi industries, attracting more capital and talent to this field.

Wormhole Plans High-Price Acquisition of Stargate, Requests Pause on “LayerZero Acquiring STG” Vote

According to an announcement from the Wormhole Foundation, LayerZero has proposed to acquire Stargate (STG) for approximately $110 million in ZRO tokens. However, Wormhole believes this offer undervalues Stargate’s protocol assets and growth. Stargate’s bridge volume reached $4 billion in July, a 10-fold year-over-year increase, with a TVL of $345 million and an estimated annual revenue of $2 million. Wormhole plans to submit a higher bid and has requested a 5-working-day pause on the current Snapshot vote to refine the bidding process and protect STG holders’ interests.

Stargate’s strong growth demonstrates its core competitiveness and market potential in the cross-chain bridging sector. While LayerZero’s acquisition offer is attractive, Wormhole’s opposition and higher bidding plan reflect Stargate’s strategic value as a quality asset, potentially triggering fierce competition for key infrastructure within the DeFi space. This event not only highlights the importance of cross-chain protocols in the blockchain ecosystem but also indicates that market expectations for high-quality DeFi project valuations are rapidly increasing.

MANTRA Proposes to Abolish ERC20 OM, Plans to Adjust Token Inflation Rate to 8%

MANTRA Chain is proposing to abolish the ERC20 version of the OM token, planning to fully migrate it to MANTRA Chain as the sole native foundation. This proposal aims to drive ecosystem development by consolidating liquidity, adjusting the token inflation rate to 8%, setting a supply cap of 2.5 billion OM, and enhancing network security. Since the launch of MANTRA Chain’s mainnet, approximately 250 million OM have been migrated. If the proposal passes, the ERC20 OM token will officially cease to be used on January 15, 2026, and unmigrated ERC20 OM tokens will be considered abandoned.

MANTRA Chain’s proposal to abolish the ERC20 version of the OM token and fully migrate it to its own chain marks an important transformation in the project’s decentralized ecosystem construction. This initiative aims to optimize the token economic model and enhance network security by integrating liquidity, setting a supply cap of 2.5 billion OM, and adjusting the inflation rate to 8%, demonstrating MANTRA Chain’s strategic considerations for long-term sustainable development.


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/trade/GT_USDT
• Gate, https://www.gate.com/price
• Gate, https://www.gate.com/announcements/article/46701
• X, https://x.com/HyperliquidFR/status/1957496587393048950
• X, https://x.com/WormholeFdn/status/1958198131558080626
• X, https://x.com/MANTRA_Chain/status/1958136539265020006

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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.