- Pin
- #Over 100 Companies Hold Over 830,000 BTC#
According to reports as of June 19, more than 100 companies collectively hold over 830,000 BTC, worth about $86.476 billion.
💬 Do you think Bitcoin will become a new norm for corporate asset allocation? How might this impact Bitcoin’s price? What’s your recent BTC trading strategy? Post to share your price predictions, market analysis, and strategies with us using the topic tag!
🎁 Meanwhile, Gate’s BTC Staking event is in full swing! Simply stake your BTC and earn up to 3% APY. Click the link to start staking and enjoy your earnings: https://ww - 🏁 Gate Red Bull Racing Tour 2025 In Full Swing!
Up to now, the total trading volume exceeded $2 billion, with top trader trading volume nearing $200 million
Join the race now & fuel your trades for real-world rewards:
✅ 5,000 GT Prize Pool
✅ VIP Seat at an F1 Grand Prix
✅ Futures Vouchers for New Signups
Start your engines & trade fast
Top the leaderboards. The Race is ON!
👉 Go Now: www.gate.com/competition/f1rb/s1
#GateRedBullRacingTour# - 📢 Gate releases its latest Reserve Audit Report!
💰 Total reserves: $10.453B
🟢 Excess reserves: $1.96B — ensuring full coverage and extra security for user assets.
Gate continues to uphold 100% proof-of-reserves and full transparency.
🔗 Read the full report: https://www.gate.com/zh/announcements/article/45617
BTC has risen over 11% in two weeks, and LAUNCHCOIN has surged over 5,500%｜Gate Research Institute
Overview
Gate Research has analyzed and collated the market dynamics and popular airdrop projects from May 5 to May 19, 2025. The crypto market rebounded significantly during this phase, with the overall market capitalization rising by more than 14%, with Bitcoin peaking at 106,518 USDT, an increase of more than 11%. The top 500 tokens by market capitalization increased by an average of 30%, with tokens ranked 201–300 performing the most, rising by more than 88% on average. LAUNCHCOIN, MOODENG AND KTA RECORDED GAINS OF MORE THAN 5,500%, 578% AND 524% RESPECTIVELY, AND THE MARKET SENTIMENT HAS REBOUNDED SIGNIFICANTLY.
Against this backdrop, multiple potential projects are simultaneously launching airdrop activities, including Kadena (high-performance public chain), Camp Network (on-chain creator platform), Avalon (Web3 open-world game), and Coinshift (multi-chain treasury platform), which have opened entry points for task participation. This article will briefly introduce these projects and participation methods, helping users seize airdrop opportunities during the market rebound and plan for medium to long-term layouts.
Cryptocurrency Market Overview
According to CoinGecko data, from May 5 to May 19, the crypto market ushered in a significant rebound, with the price of BTC rising from about 95,600 USDT to a maximum of 106,518 USDT, an increase of more than 11%, and the overall crypto market capitalization also increased by more than 14%. Among them, BTC at 00:00 on May 6 (UTC+8) was the weekly low, and then hit a high of 106,518 USDT on May 19, reflecting the accelerated return of funds and the gradual restoration of market confidence. 【1】
The crypto market has rebounded significantly in the past two weeks, mainly driven by multiple positive factors. First of all, the slowdown in U.S. employment and inflation data strengthened market expectations for the Fed to cut interest rates this year, while trade tensions between China and the United States eased, and the market's concerns about tariff escalation declined, which jointly boosted the performance of risk assets. Second, Bitcoin spot ETFs continued to record net inflows, especially in products such as BlackRock's IBIT, indicating that institutional funds were back in their positions. [2] In terms of Ethereum, market sentiment has turned bullish, driven by the expectation of the Pectra upgrade and the easing of the regulatory environment. 【3】
1. Overview of the current round of price fluctuation data
This article groups and statistics the top 500 tokens by market capitalization, observing the average increase in different market cap ranges from May 5 to May 19.
The overall average increase was 30.78%, and from the perspective of market capitalization distribution, the most eye-catching increase was the tokens ranked 201–300 by market capitalization, with an average increase of 88.03%, far outpacing other ranges, indicating that small and mid-cap assets are sought after by funds. Tokens ranked 101–200 and 401–500 by market cap also performed solidly, with average gains of 19.78% and 16.82%, respectively. On the other hand, coins ranked 301–400 in terms of market cap were weaker, rising only 13.69% on average. On the whole, despite the differentiation of the performance of small and medium-sized currencies, this round of market covers all ranges, indicating that market sentiment has fully recovered, and funds are returning to the market more extensively.
Figure 1: The overall average increase is 30.78%, with the most impressive increase being seen in tokens ranked 201–300 by market capitalization, which averaged an increase of 88.03%.![]()
Price Change Leaderboard
The crypto market has rebounded significantly in the past two weeks, driving a number of small-cap tokens to rise strongly. THE HIGHEST INCREASE WAS LAUNCHCOIN, WHICH ROSE BY 5,572.35%, FAR EXCEEDING OTHER PROJECTS, SHOWING THE HEAT OF CONCENTRATED CAPITAL SPECULATION; The token is the native token of Believe.app, and users can generate new coins with one click by posting on platform X, setting off a social minting boom on Solana. MOODENG (+578.56%) AND KTA (+524.25%) FOLLOWED CLOSELY BEHIND, BOTH RECORDING MORE THAN FIVE-FOLD GAINS, REFLECTING THE MARKET'S STRONG PREFERENCE FOR HIGHLY VOLATILE ASSETS. In addition, tokens with narrative or conceptual popularity such as ETHFI, NEIRO, GOAT, etc., also performed well, with weekly gains of more than 100%.
In terms of declines, they are mainly concentrated in established projects and assets that lack heat support. AMONG THEM, LAYER FELL BY 69.04%, WHICH WAS THE LARGEST DECLINE, AND PUNDIX (-28.87%), VENOM (-23.21%), CONSCIOUS (-22.32%), ETC. ALSO RECORDED SIGNIFICANT PULLBACKS, REFLECTING THAT SOME LOW- AND MEDIUM-HEAT TOKENS ARE STILL FACING LIQUIDITY PRESSURE IN THE STAGE OF CAPITAL REPATRIATION. It's worth noting that most of these top losers focus on off-chain oracles, underlying communication layers, or trading infrastructure, indicating that the infrastructure sector is unattractive in this theme- and emotion-driven rally.
In contrast, meme and AI concept tokens have become the direction of concentrated capital inflow due to their high community attention and strong topic heat, and their overall performance is significantly better than that of infrastructure assets, highlighting the current market's preference for theme-driven and structural differentiation. Overall, despite the gradual recovery of market sentiment and the continuous return of funds, the investment preference is obviously concentrated in projects with narrative heat, community momentum or newly launched themes, and the underlying assets that lack clear theme support are relatively conservative.
CHART 2: THE MOST PROMINENT PERFORMER IS LAUNCHCOIN, THE NATIVE TOKEN OF Believe.app, WHICH HAS RISEN BY MORE THAN 5,000%![]()
The market capitalization ranking is related to the change
In order to further analyze the relationship between the market capitalization and the increase of crypto market tokens in this round of the market, this paper draws a scatter plot of the top 500 tokens by market capitalization, with the X-axis being the market cap ranking (the smaller the value represents the larger the market capitalization), and the Y-axis being the percentage of price change from May 5 to May 19, and using a symmetric logarithmic scale (symlog) to present the change-down distribution. Each dot in the chart represents a token, with green for rising and red for falling.
Overall, most tokens recorded positive returns, with gains concentrated in the 10% to 80% range, indicating a systematic rebound in the market. SOME TOKENS HAVE RISEN SIGNIFICANTLY, ESPECIALLY LOW- AND MID-CAP PROJECTS SUCH AS LAUNCHCOIN (+5,572%), MOODENG, KTA, ETC., WHICH DEVIATE SIGNIFICANTLY FROM THE TOP OF THE CHART, INDICATING THAT FUNDS ARE RAPIDLY CONCENTRATED IN SPECULATIVE THEMES.
RELATIVELY SPEAKING, ALTHOUGH THE TOP DECLINING TOKENS SUCH AS LAYER, PUNDIX, VENOM, ETC., ARE IN DIFFERENT MARKET CAPITALIZATION RANGES, THEY MOSTLY FOCUS ON THE INFRASTRUCTURE SECTOR, SUCH AS MODULAR BLOCKCHAIN ARCHITECTURE, CRYPTO PAYMENT AND ENTERPRISE-LEVEL CHAIN SERVICES, ETC., AND THE OVERALL LACK OF CLEAR THEME HYPE OR COMMUNITY MOMENTUM SUPPORT, REFLECTING THAT THE CURRENT MARKET STILL MAINTAINS A WAIT-AND-SEE ATTITUDE TOWARDS INFRASTRUCTURE ASSETS THAT LACK SHORT-TERM NARRATIVE DRIVEN. In contrast, mid-waist assets (ranked about 100-300 by market capitalization) are more active and widely distributed, indicating that the capital layout tends to be dispersed, and there is a clear tendency to flow into projects with topic heat and community activity, further highlighting the theme-driven structural characteristics of this round of market.
As mentioned above, this round of the rising market is not completely dominated by market capitalization, but is significantly influenced by factors such as narrative enthusiasm, thematic drivers, and community participation, forming a structural market characteristic of "mainstream coins being stable and small coins being active."
Figure 3: Most tokens recorded positive returns during this period, with price increases concentrated in the range of 10% to 80%.![]()
Top 100 Market Capitalization Rankings
In this round of bullish market, the top 100 tokens by market capitalization have performed steadily overall, with most assets recording positive returns, and some projects seeing significant price increases, becoming the focal point of market capital. To more accurately reflect the performance of mainstream tokens, the following statistics have excluded stablecoins and LSD (liquid staking derivatives) tokens.
The top gainers include WIF (+85.84%), PEPE (+64.07%), ETH (+37.72%), DOGE (+36.00%) and ENA (+33.60%), indicating that meme coins and mainstream public chain assets are still the popular direction for centralized capital allocation. Among them, WIF and PEPE were driven by community topics and hot transactions. The ETH price rally reflects the fundamental improvement in anticipation of a technical upgrade between ETFs and Pectra.
On the other hand, despite the overall market uptrend, some assets in the top 100 by market capitalization have seen slight declines. The tokens with the largest drops include LEO (-3.96%), FLR (-3.65%), S (-2.24%), XDC (-0.68%), and APT (-0.19%). Although these projects have not risen in sync, the declines are limited, reflecting that funds have not fully exited, indicating certain defensive properties.
Overall, in this round of rebound, Meme coins, public chains, and hot narrative assets have reacted the most strongly, becoming the most prominent sectors in terms of price increase, reflecting a significant recovery in market risk appetite; meanwhile, tokens with solid fundamentals have shown certain anti-dip characteristics, resulting in a market structure that displays a pattern of "the strong getting stronger and the weak selecting the strong."
Figure 4: The top 100 tokens by market capitalization with the highest price increases are mostly concentrated in the Meme sector and mainstream public chain assets, becoming a popular direction for capital allocation in this round of market.![]()
2. Analysis of the performance of this round of volume
Alpha Research: Volume Growth
On the basis of analyzing the price performance of tokens, this paper further observes the changes in the trading volume of some tokens in this round of market. Based on the trading volume before the market starts, the trading volume growth rate as of May 19 is calculated to measure the changes in market heat and trading activity.
According to the data, the most significant increase in trading volume was Polyhedra Network's native token, ZKJ, which increased by 179.77 times, showing extremely high market participation. Believe.app's native token, LAUNCHCOIN, is not far behind, amplified by more than 100x (+104.58x), echoing its ultra-high gains. CFG (+23.58 TIMES), MOODENG (+18.98 TIMES) AND DEGEN (+9.60 TIMES) ALSO RECORDED SIGNIFICANT GROWTH, ALL OF WHICH ARE SMALL AND MEDIUM-SIZED PROJECTS WITH HIGH COMMUNITY POPULARITY RECENTLY.
Overall, although a dramatic increase in trading volume does not necessarily lead to a price rise, it often signals the inflow and outflow of funds, reflecting an increase in market attention. Investors can observe whether the trading volume of a particular token suddenly exceeds the average value of the past few days (such as more than doubling), and combine it with price movements to determine if there are signs of a trending market. Especially for mid- and small-cap tokens, volume fluctuations are often more sensitive and serve as early signals for speculative activities, making them important reference indicators for short-term trading.
Figure 5: The asset with the highest growth in trading volume is ZKJ, with a growth multiplier of up to 179.77 times, indicating a very high level of market participation.![]()
Alpha Research: Volume and Price Analysis
To further observe the relationship between changes in trading volume and price trends, this article plots a scatter diagram of the Volume Increase Multiple and Price Change %. The horizontal axis represents the increase in trading volume of each token over two weeks compared to a prior benchmark date, while the vertical axis shows the price fluctuations during the same period, using a symmetric logarithmic scale to clearly present extreme changes.
AS YOU CAN SEE FROM THE CHART, THE TOKENS IN THE UPPER RIGHT QUADRANT, SUCH AS LAUNCHCOIN, MOODENG, KTA, AND NEIRO, SHOW TYPICAL "VOLUME UP" CHARACTERISTICS. Among them, LAUNCHCOIN has risen by more than 5,000%, and the trading volume has been amplified simultaneously, driven by the popularity of the social minting platform Believe.app, and has become the core focus of this round of meme sector. MOODENG AND KTA, ON THE OTHER HAND, QUICKLY GATHERED TRADING ENTHUSIASM UNDER THE CATALYSIS OF THE TOPIC AND THE HYPE OF THE COMMUNITY, DRIVING THE PRICE UP STRONGLY. On the whole, most of these projects have the characteristics of clear themes and increased liquidity expectations, which are easy to attract market funds to enter the market, reflecting that in the stage of market sentiment recovery, hot spot drive is still the key factor to promote the expansion of gains.
In contrast, although ZKJ recorded the highest volume growth in the whole market (+179.77x), its price fell slightly by about 3%, showing a typical "volume but not growth" characteristics. ZKJ is the native token of Polyhedra Network, which focuses on zero-knowledge proof (ZKP) technology. It launched the staking function on BNB Chain on May 9 and offered additional rewards for four weeks, attracting a large number of users to participate, which may be the main reason for this round of volume. [4] However, as the relevant benefits have been expected by the market in the early stage, and the pledge has not continued to attract new buying after the launch, the price has instead traded sideways or even corrected, reflecting the lack of substantial impetus in the market.
Overall, although increased volume may not directly translate to price increases, it can be observed from the chart that most tokens with leading gains are still accompanied by a significant increase in trading volume, indicating that changes in trading volume remain an important indicator for assessing short-term market momentum and attention. Structurally, it also presents a differentiated pattern of "theme-driven strong performers rising, while some projects stagnate."
Figure 6: Tokens such as LAUNCHCOIN, MOODENG, and KTA are located in the upper right quadrant, exhibiting typical characteristics of "volume increase." !
Airdrop Hot Projects
This article sorts out the popular airdrops in the past two weeks from May 5 to May 19, 2025, which have great airdrop potential in the coming year and have been supported by well-known investment institutions. In this issue, a number of Web3 projects such as Kadena (a high-performance public chain), Camp Network (a social platform for on-chain creators), Avalon (Web3 AAA level open world game), and Coinshift (a multi-chain treasury management platform) have launched or confirmed airdrops, providing users with diversified participation and monetization opportunities. This article will introduce these popular projects in detail, airdrop opportunities and participation methods, aiming to provide users with the latest airdrop trends and investment opportunities, help users keep up with market trends, and capture potential profit opportunities.
airdrop
Kadena
Kadena is a high-performance public chain platform that uses a unique multi-chain parallel architecture (Chainweb) to improve network scalability through simultaneous block generation. The platform uses a proof-of-work (PoW) mechanism to ensure security, and with the self-developed Pact smart contract language, it has low fees, high throughput and enterprise-level availability, which is suitable for various scenarios such as finance and supply chain. 【5】
Currently, Kadena has launched an airdrop event on Galxe, with a total prize pool of 100,000 KDA tokens. KDA is the native token of the Kadena blockchain, used to pay transaction fees, incentivize miners, and deploy smart contracts. Users can qualify for participation rewards by completing designated tasks.
Participation Method:
Camp Network
Camp Network is a decentralized social protocol for creators, dedicated to providing Web3 users with permissionless content creation, distribution, and monetization tools. The platform supports creators in publishing content on-chain, building communities, issuing membership NFTs, and sharing profits through built-in revenue mechanisms, enhancing user participation and economic incentives. Camp aims to break the centralized control of Web2 content platforms, allowing creators to truly own their content and community assets.
Currently, the Camp Network is running its incentive testnet, where participants can earn points by completing tasks, which may potentially be exchanged for project tokens in the future.
Participation Method:
Avalon
Avalon is a Web3 massively multiplayer online role-playing game (MMORPG) developed by Avalon Corp, dedicated to creating a virtual universe with on-chain asset ownership and cross-chain interoperability at the core of the gaming experience. With an emphasis on "game magic" rather than financial speculation, Avalon advocates a true creator-driven ecosystem through game engines and blockchain technology. 【7】
Currently, Avalon is in the testing phase, and players can earn points by participating in social tasks and binding wallets, which may be related to token airdrops in the future.
Participation method:
Coinshift
Coinshift is a multi-chain treasury management platform designed for DAO and Web3 organizations, supporting mainstream chains such as Ethereum, Arbitrum, and Base. The platform integrates multi-signature accounts, portfolio tracking, batch payments, real-time payroll flows (integrating the Superfluid protocol) and cross-chain financial statements to help teams achieve efficient and secure on-chain fund management. Coinshift has also launched csUSDL, a yield-based stablecoin that allocates idle funds to DeFi protocols and real-world assets (RWA) for stable income. More than 300 organizations now use Coinshift to manage more than $1 billion in assets. 【8】
Currently, Coinshift is launching a task activity on its official platform, where users can earn points by completing social tasks and have the opportunity to participate in the subsequent project reward distribution.
Participation Method:
Tip The airdrop plan and participation method may be updated at any time, and users are advised to pay attention to the official channels of the above projects for the latest information. At the same time, users should be cautious about participating, be aware of the risks, and do sufficient research before participating. Gate There is no guarantee that subsequent airdrop rewards will be distributed.
Summary
Looking back at the cycle from May 5 to May 19, the crypto market ushered in a systematic rebound driven by the combination of macro tailwinds and liquidity, with mainstream assets such as BTC and ETH continuing to rise, and market risk appetite rebounding significantly. THE TOP 500 TOKENS BY MARKET CAPITALIZATION HAVE RISEN BY MORE THAN 30% ON AVERAGE, AMONG WHICH THE PERFORMANCE OF SMALL AND MEDIUM-CAPITALIZATION ASSETS IS PARTICULARLY BRIGHT, ESPECIALLY LAUNCHCOIN, MOODENG, KTA AND OTHER PROJECTS WITH THE ADVANTAGES OF THEME POPULARITY AND CAPITAL CONCENTRATION HAVE RISEN SHARPLY, BECOMING THE FOCUS OF THIS ROUND OF MARKET. The trading volume data shows that funds are actively looking for tokens with thematic narratives and community popularity, and some projects such as ZKJ have a significant volume, but due to the lack of sustainability or market expectations overdraft, they have failed to drive a synchronous rise, showing the characteristics of "volume stagnation".
On the whole, although the market has not yet completely departed from the shock range, the path of capital layout is becoming clearer: on the one hand, it pays attention to the fundamental improvement of mainstream assets, and on the other hand, it actively pours into small and medium-sized projects with topical and short-term explosive power, and the market style presents the structural characteristics of "theme rotation + mainstream support". Until the repatriation of funds continues and policy expectations do not turn significantly, the market is expected to maintain a moderate and strong pattern.
In terms of airdrop projects, the projects tracked in this issue, such as Kadena, Camp Network, Avalon, and Coinshift, show the characteristics of diverse types, clear mission paths, and active community participation. These projects have clear technical positioning and ecological application scenarios, and are supported by well-known institutions, and have high long-term growth potential. At present, most of them are in the testnet or early community stage, and users can accumulate points by completing low-threshold tasks to obtain future air investment qualifications. Continuing to participate in such projects not only has the opportunity to obtain native token incentives, but also helps to understand the project mechanism and deploy potential assets in advance.
References:
[Gate Research Institute](https://www.gate.com/learn/category/research) is a comprehensive blockchain and cryptocurrency research platform that provides readers with in-depth content, including technical analysis, hot insights, market reviews, industry research, trend forecasts, and macroeconomic policy analysis.
Disclaimer Investing in the cryptocurrency market involves high risks. Users are advised to conduct independent research and fully understand the nature of the assets and products being purchased before making any investment decisions. Gate does not assume any responsibility for any losses or damages resulting from such investment decisions.