Crypto Market Overview

• BTC (-0.48% | Current Price: 113,078 USDT):After the recent decline in previous days, BTC entered a consolidation phase on August 22. With trading volume dropping rapidly, the short-term trend is likely to remain range-bound. On August 21, BTC ETFs saw outflows of USD 194 million, including USD 127 million from BlackRock’s IBIT and USD 43.3 million from ARK’s ARKB.
• ETH (+1.02% | Current Price: 4,334 USDT): After a brief correction, ETH regained its upward momentum. The 4,083–4,299 USD range provided strong support, suggesting steady buying power. If ETH stabilizes above 4,300 USD, it may attempt to challenge 4,400 USD. On August 21, ETH ETFs recorded inflows of USD 240 million, with USD 233 million into BlackRock’s ETHA and USD 28.5 million into Fidelity’s FETH.
• Altcoins: Most major altcoins experienced slight declines. Overall market sentiment remains “neutral” to “buy.” The Fear & Greed Index was reported at 50 today, within the normal range, indicating a cooling of sentiment compared to prior overheated conditions.
• Macro: On August 21, the S&P 500 fell 0.40% to 6,370.17 points; the Dow Jones dropped 0.34% to 44,785.50 points; and the Nasdaq slipped 0.34% to 21,100.31 points. As of 10:50 AM (UTC+8) on August 21, spot gold was trading at USD 3,334.98 per ounce, down 0.11% in the past 24 hours.

Trending Tokens

BIO — Bio Protocol (+23.50%, Circulating Market Cap: USD 313M)

According to Gate.io market data, BIO is currently trading at USD 0.188, with a 24-hour gain of 23.50%.Bio Protocol is a decentralized science (DeSci) protocol designed to provide a decentralized support platform for global scientific research. Its core mission is to break the barriers of traditional research funding models and leverage blockchain technology to enable capital flows, resource sharing, and incentive mechanisms for innovation. By combining blockchain’s decentralized features with biomedical research funding and governance, Bio Protocol creates a new scientific research ecosystem. The recent surge in BIO’s price was mainly driven by the announcement of Bio Protocol’s first BioAgent, Aubrai, which fueled community engagement and market expectations for ecosystem expansion. Users can participate in the sale by staking BioXP and contributing BIO, while the upcoming launch of AUBRAI has attracted speculative buying. The overall DeSci sector hype and optimism around recent proposals also contributed to the price rally.

M — MemeCore (+3.31%, Circulating Market Cap: USD 467M)

According to Gate.io market data, M is currently trading at USD 0.44, with a 24-hour gain of 3.31%. MemeCore is an EVM-compatible Layer 1 blockchain that introduces an innovative “Proof-of-Meme (PoM)” consensus mechanism to secure the network. In a multi-chain environment, users can delegate meme tokens to validator nodes for staking, thereby enhancing network stability while earning dual block rewards. MemeCore aims to build the first Layer 1 blockchain designed specifically for meme coins, offering robust infrastructure, security, and incentive models to support the next generation of meme-driven assets. Its unique PoM mechanism allows users to stake meme tokens for security and rewards, fostering a community-centric ecosystem. The recent price increase of M is mainly attributed to the high participation in the MemeX Liquidity Festival, which attracted substantial trading volume and triggered short-term liquidations. The project’s strengthened strategy in Asian markets boosted investor confidence and speculative buying, while the broader altcoin market rebound also provided additional support.

PLUME — Plume (+0.96%, Circulating Market Cap: USD 222M)

According to Gate.io market data, PLUME is currently trading at USD 0.08, with a 24-hour gain of 0.96%.Plume is a fully integrated modular Layer 2 network focused on RWAfi. It has built the first modular, composable, RWA-focused EVM-compatible chain aimed at simplifying the tokenization of all asset types through native infrastructure and RWAfi-specific functionalities unified across the chain. Plume is creating a composable DeFi ecosystem around RWAfi with an integrated end-to-end tokenization engine and a network of financial infrastructure partners, enabling builders to plug and play.

The recent price uptick of PLUME was mainly driven by LayerBank’s launch of Leverage Looping Vaults on its platform, integrated with NestCredit to enhance the convenience and scalability of RWA yield strategies, which drew significant market attention. The token also benefited from high liquidity following its Binance listing, as well as the continued momentum in the RWA sector, which further fueled speculative demand.

Alpha Insights

Ripple and SBI Plan to Launch RLUSD Stablecoin in Japan by 2026

Ripple and SBI Holdings announced plans to introduce the Ripple USD (RLUSD) stablecoin in Japan, targeting the country’s emerging stablecoin market. The two parties have signed a memorandum of understanding, with SBI VC Trade designated as the distributor. RLUSD is expected to go live in Japan in Q1 2026 under the new regulatory framework to advance digital financial infrastructure.

Launched in December 2024, RLUSD is Ripple’s first stablecoin project, fully backed by U.S. dollar deposits, short-term Treasuries, and cash equivalents. Monthly audits will be provided by an independent third party. Ripple stated that this structure ensures clear regulatory compliance and institutional-grade standards, positioning RLUSD to stand out in the stablecoin market.

Kanye’s YZY Token Sparks Controversy as Insiders Pocket Millions

Ye (formerly Kanye West) launched his Solana memecoin YZY Money on Thursday. The token surged nearly 6,800% shortly after launch, reaching a peak of USD 3.16 with an estimated market cap of USD 3 billion, before quickly crashing below USD 1 — highlighting extreme speculation. Only 20% of the tokens were available to the public, 10% allocated to liquidity, and 70% held by Yeezy Investments LLC, locked for 24 months. Despite anti-sniping measures spread across 25 contract addresses, on-chain data indicated that insider wallets gained early access and executed trades ahead of the public. Analysts noted that some insider wallets bought and sold large volumes immediately after launch, with individual profits exceeding USD 1.5 million. YZY was listed only in a single-sided liquidity pool without a USDC pair, giving developers and whales the ability to add or remove liquidity at will, further exposing retail investors to risk. The incident is seen as reminiscent of Ye’s attempt to replicate the model of Trump’s TRUMP token, once again raising concerns over fairness and potential “insider trading” in celebrity-backed tokens.

User Loses USD 1 Million After Signing Fake Uniswap Transaction

According to Odaily, a user recently lost approximately USD 1 million in tokens and NFTs after unknowingly signing a phishing batch order disguised as a Uniswap swap transaction. The attacker used a highly realistic fake Uniswap interface to trick the victim into signing, embedding malicious code or gaining approval rights that allowed direct asset transfers.

Analysts warn that the case underscores persistent risks in DeFi trading, where although intermediaries are removed, transaction signing remains a critical vulnerability. Users are advised to only use official links, carefully review transaction requests, and employ hardware wallets or multi-factor authentication to prevent malicious contracts and phishing attacks. The incident also highlights the importance of transparency and security education in DeFi, calling for platforms and communities to strengthen risk disclosures and protection mechanisms.

Gate Launchpool

New Token Sale Details

• Subscription Project: Aria
• Token Name: ARIA
• Subscription Period: Until August 24, 2025, 13:00 (UTC+8)
• Participation Method: Stake ETH or ARIA to claim rewards for free
• Total Airdrop Supply: 625,000 ARIA

Project Introduction

AriaAI is a next-generation game development and publishing experiment inspired by Disney-style immersive worlds and AI technology. It is designed around gameplay tied to its own intellectual property (IP). The project represents a major leap in bringing Web2-level game design and publishing standards—enhanced with AI execution—into the Web3 era.


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
• Defillama, https://defillama.com/revenue/chain/solana
• Odaily, https://www.odaily.news/zh-CN/newsflash/444552
• Coindesk, https://www.coindesk.com/markets/2025/08/21/insiders-cash-in-millions-as-ye-formerly-kanye-west-apparently-issues-yzy-token
• Gate, https://www.gate.com/launchpool/BSU?pid=355

Gate Research is a comprehensive blockchain and cryptocurrency research platform that provides deep content for readers, including technical analysis, market insights, industry research, trend forecasting, and macroeconomic policy analysis.

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.