Analyzing the latest mergers involving BSTR, Twenty One, and Cantor, we examine the value of shell companies, the reflexivity flywheel effect, and emerging bubbles, while also advising investors to stay alert to the risk of premiums receding.

This article offers a thorough analysis of the evolution of the crypto narrative from “decentralization” to “centralized compliance.” Drawing on landmark regulations including the Stablecoin Bill, the FIT21 Act, and Hong Kong’s policy initiatives, it systematically examines how regulatory frameworks are redefining the market structure. Traditional institutions and political actors are taking the lead in driving the latest surge in cryptocurrency market activity and shaping the dynamics of risk transmission in the crypto market.

Gate Research Institute recently published "Thoughts on Exodus Issuing Tokenized Stocks On-Chain", providing an in-depth analysis of Exodus' innovative practice of issuing tokenized stocks on-chain. The report explores multiple dimensions including technology, regulation, and market. Exodus utilized the high performance and convenient asset creation mechanism of the Algorand blockchain to successfully tokenize its stocks. In December 2024, Exodus received SEC approval to transfer to the NYSE, significantly improving asset liquidity. The report points out that the explosion of stock tokenization narrative in 2025 benefited from the promotion of crypto-friendly policies in the US. Non-crypto industry listed companies may have the opportunity to attract global capital through tokenized financing. The Exodus case not only verifies the feasibility of technology and regulation but also reveals the huge potential for listed companies to raise funds through on-chain additional issuance, paving a new path for the inte

Eclipse integrates the Optimistic Rollup architecture with the Solana Virtual Machine (SVM), delivering a highly scalable and low-latency runtime environment.

Gate Research Weekly Report: This week, BTC fell 0.73% this week, briefly dipping below 116,000 USDT before quickly rebounding. ETH rose 5.47% with continued net inflows, outperforming major altcoins. ETH ETFs recorded a record $5.4 billion in net inflows in July, while The Ether Machine added 15,000 ETH, signaling on-chain alignment with institutional trends. Sui’s TVL climbed to $2.2 billion, doubling year-to-date, with monthly active addresses up over 130%. Solana DEX volume has dropped nearly 70% from its January peak, indicating a cooling of ecosystem activity. OpenSea launched Creator Studio 2.0 to enhance multi-chain publishing capabilities. EigenDA launched its V2 mainnet, boosting throughput by approximately 6.7x compared to V1. CBOE is advancing ETP listings for major tokens like SOL and XRP, with potential approval as early as Q4.

This article provides a retrospective on Ethereum's progress over the past ten years. It traces its journey from the inception of smart contracts, through the evolution of sharding and Rollup-based scaling solutions, to the shift toward Proof of Stake and changes in ecosystem governance. The article delivers a thorough analysis of the technical limitations, value capture challenges, and prospective paths ahead, mapping out a vision for the next decade of the world computer.

The latest report by Gate Research, titled "Hyperliquid's Dark Horse Journey: Unpacking the Rise of the On-Chain Derivatives Dominator", which provides a comprehensive analysis of how Hyperliquid rapidly evolved from a challenger into the dominant force in the on-chain derivatives market. With a commanding 80% market share, Hyperliquid now leads the sector. By developing its own Layer 1 chain, native order book, and ultra-fast infrastructure, it delivers a trading experience comparable to centralized exchanges, attracting a high concentration of professional traders and whale capital. This active trading not only fuels deep liquidity but also serves as a powerful "live advertisement." Coupled with a $620 million airdrop and anti-VC narrative, Hyperliquid successfully drove user growth and liquidity inflow. The launch of HyperEVM has further expanded its ecosystem and revenue streams, solidifying its position as a market leader.

When the cryptocurrency market enters a strong trending phase, retail investors often face a common dilemma: How can I maximize the upside potential without taking on excessive risk?

This article presents the Traditional Finance (TradFi), Centralized Finance (CeFi), and Decentralized Finance (DeFi) framework, outlining complementary dynamics: TradFi supplies assets, CeFi acts as the gateway, and DeFi provides technological solutions. The article analyzes compliant routes and investment scenarios for tokenizing U.S. equities, real estate, and private equity. It offers a comprehensive overview and sector analysis for the anticipated market uptrend in on-chain real-world assets.

This article analyzes the aftermath of the hack, detailing how TVL surged back to historic highs. It spotlights Lion, a publicly listed company, increasing its holdings by millions, assesses the 60% approval probability for spot ETFs, and observes that perpetual contract funding rates doubled in just one week. Together, these developments form a triple catalyst. The article also cautions about selling pressure from token unlocks and highlights ongoing regulatory risks.

In 2025, stablecoins reached a market capitalization of $250 billion, with annual on-chain transaction volume already twice that of Visa. Investors capture significant yield spreads by purchasing 5% U.S. Treasuries with non-interest-bearing liabilities. However, these profits are completely exposed to the risk of interest rate cuts by the Federal Reserve.

This article examines policy directives alongside soaring stock prices, compares the rollout pace of the U.S. "GENIUS Act," and provides an in-depth analysis of how "license scarcity" and "concept premium" are fueling market bubbles.

Circle, a leading stablecoin issuer, has officially brought native USDC and CCTP V2 to the Sei blockchain, establishing Sei as the newest member of the mainstream blockchain ecosystem. This article provides a thorough analysis of the compliance benefits, on-chain ecosystem data growth, lending protocol advancements, and foundational technology upgrades behind this integration. It demonstrates how Sei is positioned to distinguish itself in the next bull market.

In just one year, Pump.fun transformed from a disruptive force in the meme sector to the center of a trust crisis and increasing legal scrutiny. This article offers a detailed examination of its trajectory—from the explosive popularity of its “one-click token issuance” feature, to the PUMP presale collapse, RICO indictments, and internal security vulnerabilities. It highlights the cutting edge of DeFi innovation and the evolving contest between technological advancement and regulatory intervention.

Gate Research Daily Report: On July 30, BTC continued to consolidate sideways, while ETH showed relative strength with a mild upward move. Major altcoins saw mixed performance as the market maintained its pattern of sector rotation. The Bank of Korea established a virtual asset task force to support the institutionalization of Korean won stablecoin legislation. Meanwhile, eToro announced plans to launch tokenized U.S. stocks on Ethereum with 24/5 trading access, accelerating RWA integration. In the Linea ecosystem, DEX project Etherex will launch its native token REX on August 6, advancing liquidity infrastructure deployment.