Crypto Market Overview

• BTC (+1.15% | Current price: 104,050 USDT): BTC traded within a narrow range today. After dipping to around $101,500 last night, it found support at the lower band of the 4H Bollinger and began to rebound. The short-term trend remains unclear, and the market may stay range-bound in the near term.
  Yesterday, BTC ETFs saw a net inflow of $115 million. BlackRock’s IBIT led with $410 million in inflows, while Fidelity’s FBTC and ARK’s ARKB saw outflows of $123 million and $132 million respectively. Over the past 20 days, BTC ETFs have had a cumulative net inflow of $6.2 billion.

• ETH (-0.65% | Current price: 2,572 USDT): ETH is hovering near the mid-band of the 4H Bollinger. The $2,700 level is a short-term resistance point. ETH’s market dominance is currently 9.3%, and the ETH/BTC ratio stands at 0.0247.
  Yesterday, ETH ETFs saw net outflows totaling $39.8 million. BlackRock’s ETHA had inflows of $8.4 million, while Fidelity’s FETH and Grayscale’s ETHE saw outflows of $31.6 million and $16.6 million respectively.

• Altcoins: Most altcoins are pulling back, and there is a lack of unified market narrative. The Fear & Greed Index currently reads 69, slightly lower than in recent days, but still in the “Greed” zone.

• Macro: U.S. equities were mixed yesterday. The S&P 500 rose 0.41% to 5,916.93, the Dow gained 0.65% to 42,322.75, while the Nasdaq dipped 0.18% to 19,112.32. On the bond front, the 10-year Treasury yield is at 4.45%, while the 2-year, more sensitive to Fed policy, sits at 3.96%.
  As of May 16, 12:00 AM (UTC+8), spot gold is trading at $3,208.56/oz, down 0.88% in the last 24 hours.

Trending Tokens

NXPC Nexpace (+1,340.87%, Market Cap: $484M)

According to Gate.io, NXPC launched at 2 PM yesterday and is now priced at $2.86, up over 1,300% from its debut. Amid a bearish altcoin market, NXPC’s rally surprised the market.

NXPC is the core digital asset of MapleStory Universe, issued by Nexpace, with a capped supply of 1 billion tokens. Its use cases include rewards, NFT transactions, and gas payments—bridging in-game and external economies to empower both players and creators.

MapleStory, a 20-year-old classic with over 180 million players and $4 billion in revenue, is being brought on-chain by Nexon. Drawing parallels with past GameFi booms like GALA and SAND (both once valued over $7B), NXPC could potentially target a price of $15–$40—if it matches those ecosystems in activity.

However, the GameFi sector currently lacks new narratives or technological breakthroughs, and relying solely on MapleStory IP might be overly optimistic.
NXPC is now part of the Gate Launchpool staking program. Users can stake BTC, ETH, or NXPC to earn rewards from a 500,000 NXPC prize pool. Annualized yields are: BTC 8.92%, ETH 7.19%, and NXPC 141.93%.

PORT3 Port3 Network (+62.54%, Market Cap: $22M)

PORT3 is trading at $0.044 with a 24-hour gain of 62.54%, one of the few altcoins in the green today. Port3 Network is building a decentralized social data layer by integrating Web2 and Web3 user data to support DApps and Web3 projects with accurate analytics and tools. Its vision is to become the “social data oracle” for Web3, solving user acquisition and retention issues.

Its products—SoQuest, SoGraph, and cross-chain bots—serve over 1,800 projects and 800,000 users. Features like incentive quests, identity tagging, and analytics enhance project-user connectivity
Frequent listings on major exchanges have boosted demand for PORT3. While the token is up 300% from early April, it remains over 80% below its March 2024 ATH of $0.33.

Alpha Insights

CoinMarketCap Launches CMC Launch, Debuts Aster ($AST)

CoinMarketCap (CMC) has launched CMC Launch, a new platform for pre-TGE projects. The first featured project is Aster, a decentralized perpetual trading platform operating on BNB Chain and Arbitrum.

Backed by YZi Labs, Aster features a dual-mode UI, airdrop rewards, non-custodial trading (no KYC), deep liquidity pools, low fees, and multichain support.

CMC Launch will offer projects dedicated pages, interactive community tasks, and wallet-based airdrop eligibility.

BlackRock BUIDL Fund Integrates with DeFi Protocol for First Time

BlackRock’s $3B tokenized U.S. Treasury fund, BUIDL, has completed its first DeFi integration—connecting with the Euler protocol on Avalanche.

The integration uses the Securitize sToken framework. sBUIDL is a composable ERC-20 token redeemable 1:1 for BUIDL fund shares. Users can now borrow USDC or AUSD against sBUIDL and earn AVAX and yield from the fund.

BUIDL (BlackRock USD Institutional Digital Liquidity Fund) is the first U.S. Treasury-backed tokenized fund on Ethereum. It provides institutional investors with secure, liquid, and transparent blockchain-based access to U.S. Treasuries—marking a major step in the tokenization of traditional finance.

SOL Realized Cap Inflows Turn Positive for First Time in Weeks

According to CoinDesk’s Shaurya Malwa, SOL has seen over 4% growth in realized market cap over the past 30 days. This marks the first net inflow after weeks of outflows, suggesting either early positioning for a rebound or that selling pressure has eased.

Realized cap reflects the aggregate value of tokens at their last on-chain movement, filtering out speculative volatility to reveal true capital flows.
Though SOL’s price hasn’t reacted significantly yet, the shift signals improving market sentiment.

Gate Launchpool

• Project: Nexpace
• Token: NXPC
• Deadline: Until May 18, 2025, 8:00 PM (UTC+8)
• How to Participate: Stake BTC or ETH to earn free NXPC
• Personal Cap: 10 BTC or 300 ETH
• Total Airdrop: 400,000 NXPC

Project Overview

NXPC is the key digital asset of MapleStory Universe, issued by Nexpace with a 1B total supply. It’s used for rewards, NFT transactions, and gas fees—bridging in-game and on-chain economies.

NXPC features a self-regulating supply model: the “fission” mechanism mints more tokens amid high NFT demand, while “fusion” burns excess supply during price surges to curb inflation and speculation.

It empowers user-generated content and breaks traditional gaming’s content monopoly.
MapleStory Universe runs on the high-performance Henesys L1 chain, natively connected to Avalanche C-Chain. Designed for game economies, it supports fast transactions and cross-ecosystem interoperability. As the ecosystem grows, NXPC is expected to scale in value.


References：

• Gate, https://www.gate.io/trade/BTC_USDT
• Farside Investors, https://farside.co.uk/btc/
• CoinGecko, https://www.coingecko.com/categories
• Investing, https://investing.com/
• Believe, https://www.believescreener.com/
• CoinMarketCap, https://coinmarketcap.com/cmclaunch/
• Cointelegraph, https://cointelegraph.com/news/is-xrp-price-rally-over-for-now
• Gate, https://www.gate.io/zh/launchpool

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.io is not responsible for any losses or damages arising from such decisions.