Gate Research: PUMP Token Surges Over 40% Since Launch | BTC breaks through $120,000, reaching a new all-time high

Crypto Market Overview

• BTC (-1.27% | Current price 118,263 USDT): BTC briefly broke through the 120,000 USDT level today, reaching a high of over 123,000 USDT, significantly setting a new all-time high. However, BTC failed to hold above 120,000 USDT and has retreated to 118,000 USDT. On July 14, BTC ETF inflows totaled $294 million, with BlackRock’s IBIT receiving $394 million and ARKB seeing outflows of $99.6 million.
• ETH (-0.64% | Current price 2,976 USDT): ETH broke through the 3,000 USDT integer level. Trump’s tweet and the vision statement released by the Ethereum Foundation may have had a positive impact on the price. Technically, ETH’s candlesticks form a consolidation pattern of around 3,000 USDT. It may attack 3,000 USDT again in the future. On July 10, ETH ETFs saw inflows of $259 million, with BlackRock’s ETHA receiving $151 million and Fidelity’s FETH receiving $37.3 million.
• Altcoins: The overall market is currently in an uptrend. The Fear and Greed Index stands at 72 today, indicating optimistic market sentiment.
• Macro Environment: On July 15, the S&P 500 rose 0.14% to 6,268.56 points; the Dow Jones Industrial Average gained 0.20% to 44,459.65 points; the Nasdaq Composite increased 0.27% to 20,640.33 points. As of July 15, 2:45, spot gold is trading at $3,349 per ounce, up 0.17% in the past 24 hours.

Trending Tokens

PUMP Pump.fun (+44.85%, Market Cap $2.05 billion)

According to Gate.io market data, the PUMP token is currently priced at $0.0058, up 44.85% in the last 24 hours. Pump.fun is an innovative meme coin creation and trading platform based on the Solana blockchain. It allows users to quickly create and launch their own tokens at extremely low costs, enabling instant trading without technical background or providing liquidity. Through fair launch mechanisms and bonding curve pricing models, the platform ensures transparency and market fairness, encouraging community-driven token development through social interactions. Since its launch in early 2024, Pump.fun has facilitated the creation of over 10 million meme coins.

On July 15, the PUMP token was listed on major mainstream cryptocurrency exchanges. Previously, the subscription price for PUMP tokens was $0.004. After listing, the price of PUMP tokens briefly surpassed $0.006 but has since retreated to $0.0058.

XCN Onyxcoin (+15.14%, Market Cap $675 million)

According to Gate.io market data, the XCN token is currently priced at $0.019, up 15.14% in the last 24 hours. Onyxcoin is a decentralized finance (DeFi) platform based on the Ethereum blockchain, dedicated to providing secure and transparent peer-to-peer lending and asset management services through smart contracts. XCN, as a governance and utility token, allows holders to participate in Onyx DAO voting, deciding on protocol upgrades and community initiatives, while also being used to pay for platform service fees, obtain discounts, and earn rewards through staking. The Onyx protocol supports various digital assets, including ETH, ERC-20 tokens, and NFTs, aiming to enhance the efficiency and scalability of financial services through decentralized cloud infrastructure and cross-chain bridging technology.

On July 12, Onyx officially announced through social media that OIP-60 has been approved, which will activate Onyx Points for XCN stakers on Ethereum and deploy the Onyx gas-free wallet. It is currently in the queue and will be executable in about 48 hours. This positive news may be driving the recent rise in XCN.

PENGU Pudgy Penguins (+9.19%, Market Cap $1.99 billion)

According to Gate.io market data, the PENGU token is currently priced at $0.031, up 9.19% in the last 24 hours.Pudgy Penguins is one of the most well-known NFT projects in the cryptocurrency space, launched in July 2021. It quickly gained popularity due to its unique “chubby penguin” image and community culture. This NFT collection consists of 8,888 penguins. The PENGU token, as the official social token of Pudgy Penguins, is making waves in the crypto world. This token, originating from a famous NFT project, represents more than just a digital asset; it embodies a vibrant community and cultural phenomenon.

On July 15, Pudgy Party, the ecosystem game of Pudgy Penguins, was launched on Apple and Google app stores. The official social media channels initiated a campaign to give away a total of $5,000 worth of PENGU tokens to 5 lucky users to encourage community participation. The release of this game marks a significant advancement in the Pudgy ecosystem, enriching its application scenarios, potentially increasing token usage demand and community activity, thereby driving up the price of PENGU.

Alpha Insights

Aave Net Deposits Exceed $50 Billion, Becoming the First DeFi Protocol to Reach This Milestone

Aave’s net deposits have surpassed $50 billion, making it the first DeFi protocol to reach this scale. This figure represents the total collateral assets minus outstanding loans across its markets on 34 chains. The founder of Aave stated that an increasing number of traditional financial institutions are starting to use it as a lending infrastructure. Data shows that since December 2024, the total value locked (TVL) in the DeFi industry has approached $120 billion, with Ethereum-based lending dominating with a TVL exceeding $63 billion. According to DefiLlama, Aave’s current TVL is around $29 billion, accounting for nearly half of the sector.

It is reported that the Aave governance community is advancing multiple upgrade plans, including “Aave V4,” which aims to introduce account abstraction and native real-world asset vaults, while also planning to support Bitcoin Layer2 assets and expand the stablecoin GHO to more blockchain platforms. These upgrades will further consolidate Aave’s leading position in the DeFi space and drive its long-term development in multi-chain ecosystems and integration with traditional finance.

Trusta and Solana Establish Strategic Partnership to Jointly Build On-Chain Identity Infrastructure

Trusta announced a strategic partnership with Solana on the Solana Attestation Service (SAS) and received an Infrastructure Grant from the Solana Foundation. As one of the founding members of SAS, Trusta will work with the Solana Foundation to promote the establishment and implementation of decentralized identity (DID) and verifiable credential (VC) standards in the Solana ecosystem. The two parties will jointly expand the application scenarios of SAS, helping Solana build a verifiable and privacy-friendly identity framework for DeFi, social, and on-chain reputation systems.

The strategic partnership between Trusta and Solana marks a milestone in advancing decentralized identity solutions. By jointly developing standards for decentralized identities (DIDs) and verifiable credentials (VCs), they are laying the foundation for a more secure and privacy-focused blockchain environment for users. This collaboration will bring new opportunities to the Solana ecosystem, enhancing the experience of DeFi and social applications while injecting new vitality into on-chain reputation systems. Looking ahead, this partnership is expected to set a benchmark in the broader blockchain and DeFi space, leading the new trend in decentralized identity technology.

Kazakhstan Central Bank: Plans to Explore Investing Foreign Exchange Reserves and National Fund Assets in Cryptocurrencies

Timur Suleimenov, Governor of the National Bank of Kazakhstan, stated that the country plans to explore investing its foreign exchange reserves and National Fund assets in cryptocurrencies. However, he cautioned that while crypto assets offer high returns, they are also highly volatile, advising against hasty actions. Additionally, Kazakhstan aims to establish a national cryptocurrency reserve to store confiscated digital assets. If companies mine on behalf of the state, some assets could be incorporated into the reserve through taxation and other means.

The statement by Kazakhstan’s Central Bank Governor Timur Suleimenov has far-reaching implications for the cryptocurrency market and the country’s financial policies, setting the direction for future development. Kazakhstan may further improve relevant regulations, establish cryptocurrency exchanges and other infrastructure, gradually integrate into the global crypto-economic system, inject new momentum into economic growth, and play a more active role in digital economy and international financial cooperation.

Gate Launchpool

Launchpool Details

• Project: Velvet
• Token: VELVET
• Expiration date: July 15, 2025, 12:00 (UTC)
• Participation: Stake ETH or VELVET to receive for free
• Total Mining Rewards: 500,000 VELVET

Project Overview

Velvet is a DeFAI operating system designed to simplify on-chain research, trading, and portfolio management. The Velvet application has been launched on BNB Chain, Base, Solana, Ethereum, and Sonic, with over 100,000 users trading and executing DeFi strategies. It integrates a multi-agent AI Co-Pilot that uses natural language to help users discover, analyze, and execute new investment opportunities. Velvet’s infrastructure also allows others to create tokenized DeFi strategies and manage them through UI or API, with over 10,000 vaults created by KOLs, traders, and crypto hedge funds.

Gate Research is a comprehensive platform offering in-depth blockchain and cryptocurrency research, including technical analysis, market reviews, trend forecasts, and macroeconomic insights.

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.