Crypto Market Overview

• BTC (-0.29% | Current Price: 104,647 USDT): Bitcoin dipped to a weekly low of 103,000 USD last week before stabilizing and rebounding. However, the current price has pulled back again, reflecting cautious market sentiment. In the short term, Bitcoin is likely to remain in a broad consolidation range, with key support and resistance levels to watch. On the funding side, Bitcoin spot ETFs saw a net inflow of 389 million USD yesterday, with BlackRock’s IBIT contributing 278 million USD.
• ETH (+0.01% | Current Price: 2,518 USDT): Affected by the broader market correction, ETH surged and then retreated but continues to trade within a wide consolidation range. The ETH/BTC ratio dropped to 0.024, with market share falling to 9.22%. In terms of fund flows, Ethereum spot ETFs recorded a net inflow of 19.1 million USD yesterday, with ETHA contributing 15.11 million USD.
• Altcoins: The altcoin market is mixed, with gains and losses varying across tokens. The Fear & Greed Index remains at 48, indicating neutral to slightly negative market sentiment.
• Macro Environment: Concerns over potential U.S. military involvement in the Israel-Iran conflict have heightened global market risk aversion. U.S. stock futures declined across the board, and European indices closed lower for the third consecutive day. Gold briefly fell below 3,350 USD but rebounded, while crude oil prices surged, with Brent crude rising for three consecutive sessions and WTI breaking above 76 USD, reflecting concerns over Middle East oil supply risks. Due to the U.S. Juneteenth holiday, U.S. stock and bond markets are closed today, resulting in subdued trading activity.

Trending Tokens

CALCIFY Calcify Tech (+15.74%, Circulating Market Cap: 892M USD)

According to Gate market data, CALCIFY is currently priced at 0.4366 USD, up 15.74% in the past 24 hours, with a circulating market cap of 892 million USD.

Calcify Tech is a decentralized computing power marketplace that provides fair, transparent, and on-demand access to GPU, CPU, and memory resources via smart contracts. Designed for AI developers, Web3 projects, and enterprise users, the platform eliminates intermediaries, offering scalable and cost-effective computing power. Through token incentives, Calcify encourages users to share idle computing resources for profit. Unlike traditional cloud services, Calcify is permissionless, programmable, and verifiable, empowering real-world AI and blockchain tasks.

CALCIFY gained market attention through its HODLer Airdrop campaign, with its price steadily climbing post-launch without significant pullbacks. However, recent candlestick patterns show long upper wicks, indicating increasing selling pressure. Short-term volatility risks are rising, and investors should manage leverage carefully and prepare for potential technical corrections.

SNT Status (+3.88%, Circulating Market Cap: 360M USD)

Per Gate market data, SNT is currently priced at 0.0505 USD, up 3.88% in the past 24 hours, with a circulating market cap of 360 million USD.

Status is a mobile application combining instant messaging, a DApp browser, and an Ethereum-based light wallet, often dubbed the “WeChat of blockchain.” It enables users to send encrypted messages, smart contracts, and digital currencies via Ethereum’s decentralized protocols. Built on Whisper, Status provides a chat API and development tools, allowing users to access DApp services within the app.

Recently, Status launched version 2.34, which significantly improves user experience compared to version 2.31, supporting SNT’s price through consistent product iterations. Technically, SNT has shown a strong uptrend since bottoming out in April, following a clear “rise-correction-rise” pattern. It is currently in a consolidation phase after hitting a new high. Investors should monitor the depth of the pullback and key support levels moving forward.

CTA Cross The Ages (+24%, Circulating Market Cap: 37.62M USD)

According to Gate market data, CTA is currently priced at 0.0751 USD, up 24% in the past 24 hours, with a circulating market cap of 37.62 million USD.

Cross The Ages (CTA) is a Web3 project blending fantasy and sci-fi, building a multimedia ecosystem that includes gaming, novels, NFTs, anime, and merchandise. Its core offering is a mobile-first blockchain-based trading card game (TCG) based on seven fantasy-sci-fi novels set in a dystopian world. Players can collect, mint, upgrade, trade, or rent cards, which can be converted into NFTs and linked to physical cards, enabling a seamless Web2-to-Web3 transition.

Driven by rising interest in the GameFi sector, CTA’s price has surged nearly 5x from its lows, with market attention significantly increasing. However, trading volume has not kept pace with recent price highs, showing signs of divergence, which may indicate weakening upward momentum. Investors should remain cautious of volatility risks at these elevated levels.

Alpha Insights

Meteora to Launch New Profit/Loss Tracker and DLMM Pool Tools

Solana-based liquidity protocol Meteora announced key updates in its June 20 community call, including a forthcoming profit/loss tracker with USDC value display (web version in development), community tools for DLMM (Dynamic Liquidity Market Maker) pools (supporting liquidity drawdown tracking and Telegram notifications), and Dune dashboards for DLMM and DBC (Dynamic Bonding Curve).

These tools aim to enhance user experience and transparency, helping liquidity providers (LPs) optimize returns and mitigate risks through real-time data and notifications. Meteora’s DLMM pools, known for dynamic fee adjustments and high capital efficiency, boast a total value locked (TVL) exceeding 1.1 billion USD, cementing its key role in Solana’s DeFi ecosystem.

The updates strengthen Meteora’s position as a core liquidity infrastructure in Solana, particularly through integrations with aggregators like Jupiter, offering low-slippage trading for users and higher yields for LPs. However, the February M3M3 platform controversy (involving over 200 million USD in memecoin manipulation) may have dented community trust, requiring transparent tool development and data disclosure to rebuild confidence. The Dune dashboards will provide intuitive data analytics, potentially attracting more developers and institutions, though their effectiveness and adoption remain to be seen, especially given occasional Solana network congestion.

Renzo Protocol and Concrete Announce Strategic Partnership

On June 19, Renzo Protocol and DeFi vault infrastructure provider Concrete announced a strategic partnership to launch a customized Restaking Vault product suite for institutional users. Combining Renzo’s liquid restaking capabilities on EigenLayer with Concrete’s institutional-grade smart contracts and operational systems, the suite offers asset issuers, institutional investors, curators, and networks a configurable, one-stop solution for EigenLayer access.

This partnership marks a significant step toward institutionalizing the EigenLayer ecosystem. Renzo’s ezETH (liquid restaking token) has attracted over 3.8 billion USD in TVL, highlighting its leadership in the restaking market. Concrete’s smart contract infrastructure enhances security and compliance, bridging traditional finance and DeFi.

However, expanding non-ETH assets and cross-chain strategies faces challenges in multichain interoperability and regulatory complexity, particularly amid heightened U.S. SEC scrutiny of crypto assets. In the short term, the partnership is likely to boost Renzo’s TVL and ezETH adoption, but the market impact and acceptance of new features like time-locked bonds remain to be seen.

Plasma Plans Mainnet Launch in Late Summer

Plasma plans to launch its mainnet in “late summer” 2025, positioning itself as a Bitcoin sidechain optimized for stablecoin transactions, aiming to reshape stablecoin infrastructure. CEO Paul Faecks stated that the mainnet will support major stablecoins (primarily USDT), offering zero-fee transactions, Bitcoin-secured anchoring, and EVM compatibility for efficient, low-cost transfers.

By focusing on stablecoin payment scenarios, Plasma avoids the complexity of general-purpose blockchains (e.g., Ethereum, Solana) like NFTs or memecoins, optimizing its architecture for high throughput (thousands of transactions per second) and deep liquidity integration. Plasma raised 1 billion USD through its XPL token presale, backed by investors including Tether CEO Paolo Ardoino and Peter Thiel, reflecting strong market confidence.

However, Plasma faces competition from Ethereum (dominant in USDT circulation) and Tron (over 10 trillion USD in stablecoin transaction volume in 2024). Faecks emphasized “network effects,” requiring Plasma to rapidly integrate payment stacks (e.g., traditional financial firms and stablecoin issuers) to capture market share. Regulatory compliance, such as U.S. GENIUS Act reserve and AML requirements, must also be addressed before the mainnet launch to ensure global user participation.

Gate Launchpool

Launchpool Details

• Project: Matchain
• Token: MAT
• Subscription Period: Until July 9, 2025, 20:00 (UTC+8)
• Participation: Stake MAT to receive free rewards
• Total Mining Rewards: 24,000 MAT

Project Overview

Matchain is a decentralized AI blockchain based on the BNB Chain, focusing on decentralized identity (DID) and data sovereignty. Its core product, MatchID, aims to onboard over 500 million users, showcasing its scalability and ambition in the Web3 ecosystem. Using zero-knowledge proofs (ZKP) and homomorphic encryption, combined with AI algorithms, Matchain integrates Web2 (e.g., social media) and Web3 (e.g., multichain wallets) identity data, creating a unified cross-chain identity system that grants users full control and monetization of their data.


References:

• Gate, https://www.gate.com/trade/BTC_USDT
• Farside Investors, https://farside.co.uk/btc/
• CoinGecko, https://www.coingecko.com/categories
• Investing, https://investing.com/
• Gate, https://www.gate.com/zh/launchpool/EDGEN?pid=311

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.