Gate Research: Korea Central Bank Sets Up Crypto Unit｜eToro to Tokenize U.S. Stocks on Ethereum

Crypto Market Overview

• BTC (+0.15% | Current Price: 118,050 USDT): BTC continues to consolidate around 117,800 USDT, maintaining a high-level sideways pattern in the short term. The price is currently suppressed by the MA 5 and MA 10 moving averages, with no clear breakout yet. MACD remains below the zero line, but the fast and slow lines are converging, and the shrinking green histogram suggests early signs of momentum recovery. Trading volume remains low, indicating strong market hesitation. A breakout above 118,200 USDT with increased volume could open further upside potential, while a drop below the 117,200 support may lead to a retest of the 115,500 level. On July 29, BTC ETFs recorded a net inflow of $79.98 million, with BlackRock’s IBIT receiving $157 million in inflows and Grayscale’s GBTC seeing $48.97 million in outflows.
• ETH (+0.90% | Current Price: 3,804 USDT): ETH saw a mild rebound above 3,800 USDT and is showing stronger price action compared to BTC. The price has reclaimed short-term moving averages but still faces resistance at the MA 30. The MACD indicator formed a bullish crossover at a low level, with the red histogram slightly increasing—signaling a potential recovery in momentum. Sustained volume could lead to a test of the 3,860–3,900 USDT resistance zone, while a break below 3,770 may shift ETH into a weaker consolidation pattern. On July 29, ETH ETFs saw a net inflow of $218 million, including a $223 million inflow into BlackRock’s ETHA and a $5.09 million outflow from 21Shares’ CETH.
• Altcoins: The overall crypto market saw sideways consolidation, with major altcoins posting mixed performance. The Fear & Greed Index rose to 74, indicating optimistic sentiment without signs of overheating. Short-term movements may continue to reflect sector-based rotation.
• Macro: On July 29, the S&P 500 fell 0.30% to 6,370.86, the Dow Jones dropped 0.46% to 44,632.99, and the Nasdaq declined 0.38% to 21,098.29. As of 02:15 AM (UTC) on July 30, spot gold was trading at $3,328 per ounce, up 0.05% in the past 24 hours.

Trending Tokens

PUMP Pump.fun（+16.42%, Circulating Market Cap: $983M)

According to Gate, the PUMP token is currently priced at $0.002814, up 16.42% in the past 24 hours. Pump.fun is a decentralized meme coin launchpad built on Solana that enables users to create, launch, and list tokens with a single click. It features a fair launch model—no presale, no team allocation—emphasizing community-driven growth and experimental liquidity dynamics. The native token PUMP serves as both a governance asset and a mechanism for value capture through platform buybacks and rewards.

The latest price surge may be attributed to continued large-scale PUMP buybacks. According to EmberCN, Pump.fun recently transferred another 12,000 SOL (approximately $2.16 million) from its fee wallet to its buyback address. Since July 16, the platform has spent 129,100 SOL (about $21.5 million) to purchase roughly 3.83 billion PUMP tokens at an average price of $0.0005. This ongoing capital deployment and transparent buyback activity have boosted market confidence and short-term trading interest. Further attention may focus on the pace of buybacks and liquidity movement going forward.

ZBCN Zebec Protocol（+15.87%, Circulating Market Cap: $452M)

According to Gate, the ZBCN token is currently priced at $0.005212, up 15.87% over the past 24 hours, according to Gate data. Zebec Protocol is a real-time payment infrastructure built on Solana, focused on streaming payroll, on-chain finance automation, and multi-chain payment solutions. Its core product, the Zebec Card—developed in partnership with Mastercard—allows users to instantly convert crypto assets to fiat for global use and supports asset loading from various blockchains. The protocol is widely used in DAO payroll, RWA dividends, and Web3 financial scenarios, offering fast, compliant fund flow.

The recent rally may be linked to Zebec’s announcement of its Zebec Card supporting a 15th blockchain: Octa.Space. The card already supports Solana, Ethereum, SUI, and more, and the new integration broadens its multi-chain reach. Additionally, Zebec has received positive feedback in the Algorand community and continues to push its narrative around RWA and infrastructure. Coupled with TV campaigns and active community engagement, these developments have boosted token visibility and demand. Investors may continue watching the network’s expansion and on-chain activity.

XDC XDC Network（+11.37%, Circulating Market Cap: $1.618B)

According to Gate, the XDC token is currently priced at $0.09994, reflecting an 11.37% increase in the last 24 hours. XDC Network is a hybrid Layer 1 blockchain built for enterprise-grade financial applications. EVM-compatible and powered by the XDPoS (XinFin Delegated Proof of Stake) consensus mechanism, XDC offers high-speed and low-cost transactions and is designed to support trade finance, real-world assets (RWA), and regulatory-compliant use cases. The network is integrated with multiple fintech and government-backed initiatives, emphasizing on-chain and off-chain system interoperability.

The recent price movement appears driven by XDC’s listing on a new centralized exchange and renewed attention on its RWA narrative. On July 30, XDC will open trading on the new platform, coinciding with the co-founder’s guest appearance at the New York Stock Exchange to discuss the protocol’s approach to real-world asset tokenization. Additionally, XDC will host an online forum themed “Real Yield, Real Assets, Real Adoption” to highlight its enterprise use cases and integration within Web3. These events have elevated market interest, and future developments may hinge on trading momentum, institutional backing, and RWA deployment progress.

Alpha Insights

Bank of Korea Establishes Virtual Asset Task Force to Accelerate Stablecoin Legislation

The Bank of Korea has announced the creation of a new “Virtual Asset Task Force” under its Financial Payments Bureau, while also renaming its former “Digital Currency Research Lab” to “Digital Currency Division.” This structural change aims to systematically address legislative developments related to Korean won-based stablecoins. According to the central bank, the new task force will serve as a bridge between the Bank of Korea and key stakeholders such as government bodies and the National Assembly, actively participating in shaping regulatory frameworks for stablecoins and virtual assets.

The reorganization signals the Bank of Korea’s shift from a research-focused role to a more hands-on policy implementation stance, particularly as stablecoins become a focal point of global financial regulation. Korean won stablecoin initiatives have gained momentum in recent years, with notable backing from local tech and financial players such as Kakao’s Klaytn and Shinhan Bank’s cross-border payment pilots.

The new team is expected to help delineate the roles of central bank digital currencies (CBDCs) versus privately issued stablecoins, and may participate in the design of regulatory sandboxes, AML frameworks, and cross-border payment trials. Overall, this move represents the Bank of Korea’s proactive engagement in digital asset governance and signals a stronger institutional role in the legal and technical integration of Korean won stablecoins into the mainstream financial system.

eToro to Launch Tokenized U.S. Stocks on Ethereum, Accelerating RWA Integration

Trading and investment platform eToro has announced a major upgrade, including the rollout of 24/5 trading for U.S. stocks and ETFs and the launch of tokenized versions of 100 popular equities. These tokenized stocks will be issued as ERC20 tokens on the Ethereum blockchain, enabling users to buy and sell outside of traditional market hours. The tokens will also support transfers, staking, and DeFi integrations—significantly boosting asset liquidity and composability. eToro described this initiative as a strategic step toward a tokenized financial future, aiming to deliver a more open and flexible investment experience to global users.

Notably, eToro’s move comes amid broader momentum in the tokenized asset space. Projects such as xStocks have already integrated with multiple exchanges via the Solana blockchain, enabling cross-platform trading and real-time tokenized equity access. This trend reflects the shift from concept to infrastructure in the real-world asset (RWA) tokenization landscape.

eToro also announced a partnership with CME Group to introduce spot-settled futures contracts in selected European markets. These contracts feature longer maturities and provide flexible risk management tools for institutional and retail investors. Through extended trading hours, on-chain issuance, and derivative products, eToro is establishing a comprehensive presence in the RWA space and driving the convergence of traditional finance and blockchain technology.

Etherex to Launch REX Token on August 6, Accelerating DEX Infrastructure in Linea Ecosystem

On July 29, Etherex announced the official launch of its website, etherex.finance, and revealed plans to issue its native token REX on August 6. The project aims to establish itself as a core liquidity infrastructure within the Linea and broader Ethereum ecosystems. As a decentralized exchange, Etherex is focused on the zkEVM-powered Linea Layer 2 network, offering a range of liquidity pool options to encourage early user participation and deepen on-chain liquidity. Its branding, centered on the slogan “The chain is Linea,” reflects its strategic commitment to becoming a leading DEX within the ecosystem.

The website launch and token announcement mark a significant step in Etherex’s expansion efforts. The platform aims to deliver deep trading liquidity and incentivize user engagement through the upcoming REX token. Looking ahead, attention will be on the design of the REX tokenomics, potential ecosystem funding support, and collaborations with other Linea infrastructure projects—all of which will be critical in determining whether Etherex can stand out in the competitive DeFi landscape.


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
• YNA, https://www.yna.co.kr/view/AKR20250728141400002?input=1195m
• Investing, https://www.investing.com/news/company-news/etoro-expands-245-trading-plans-tokenized-stocks-on-ethereum-93CH-4157860
• X, https://x.com/etherexfi/status/1949953828863787502
• Gate, https://www.gate.com/launchpool/NEKO?pid=344

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.