Gate Research Institute Daily: On September 25th, the BTC price pumped 2.24% to about $64,361 within 24 hours, reaching the $64,500 resistance level. The net inflow of BTC Spot ETF was $136 million, and the net inflow of ETHereum Spot ETF was $62.51 million. For every 50 basis points the Fed cuts interest rates, Tether and Circle's annual income decreased by $488 million and $144 million respectively. The SEC reached a settlement with TrueCoin LLC and TrustToken Inc on the Stable Coin TrueUSD. Banana Gun: 11 users lost $3 million in the previous security incident, which will be fully compensated by the treasury. Wintermute has proposed the issuance of 250 million ARB tokens.

Market Review

According to gate market data, as of 7:00 on September 25 (UTC+0):

BTC - The BTC price has increased by 0.77% in the past 24 hours, with the current price at around $63,829. Within the past 24 hours, the highest price was $64,812.4, and the lowest price was $62,739.8. On the daily candlestick chart, the recent BTC price has rebounded to the $64,500 resistance level, and the specific trend still needs to be confirmed in the future.

ETH - The 24-hour price drop of ETH is 1.30%, and the current price is about $2,615. Within 24 hours, the highest price was $2,673.62, and the lowest price was $2,592.05. The current price is still in the range of 2,500-2,780 shocks, and a clear market trend needs to wait for the range to be broken.

AltCoin - Some AltCoins have performed well, with most AltCoins in the Market Cap Top 100 Tokens, excluding stablecoins, seeing gains. Some Tokens have gained more than 5%, including L1 Tokens like SEI, SUI, and ICP. Among them, SEI has the highest gain, reaching about 29%, which may be related to Vertex's release of the second quarter SEI trading rewards and the recent calming of market sentiment.

ETF - According to SoSoValue data, the total net inflow of Bitcoin Spot ETF on September 24 was about $136 million, of which BlackRock's IBIT had the largest proportion, at $98.89 million. The total net inflow of Ethereum Spot ETF was $62.51 million.

The three major U.S. stock indexes - According to TradingView data, the Dow Jones index pumped 0.20%, the S&P index pumped 0.25%, and the Nasdaq index pumped 0.56% yesterday.

Spot Gold- As of 4:00 on September 25th (UTC+0), the gold price was reported at $2,667 per ounce, with a 24-hour increase of 0.37%. It reached a high of $2670 per ounce, continuing to refresh historical highs.

Fear and Greed Index - The Fear and Greed Index has increased from 54 yesterday to 59, indicating a return to a greedy market sentiment. More investors may believe that there is further potential for the market to pump and actively participate in buying. Although the rise in the index indicates optimism, if the greed index continues to rise, it may mean that the market is approaching an overbought condition, and there may be a risk of a short-term pullback.

Popular Tokens

According to the gate market data, as of 8:00 on September 25th (UTC+0), combined with the volume and price performance in the past 24 hours, the following popular altcoins are:

KARRAT - Single day increase of 26.9%, circulating market capitalization of $78.39 million.

KARRAT protocol is a Decentralization game infrastructure layer, supported by $KARRAT and backed by a true Decentralization community with a shared vision of embracing the new era of gaming, entertainment, and AI products.

The reason for the pump may be the zone effect brought about by the recent AI and gaming concepts being hot.

AITECH - Daily increase of 25.33%, circulating Market Cap 1.1 billion US dollars.

$AITECH is a deflationary utility Token for artificial intelligence infrastructure. This Token can be used for renting high-performance GPUs in the GPU marketplace, discovering AI tools in the AI marketplace, and participating in early AI projects on the Launchpad.

The reason for this pump may be due to the Fed's interest rate cut, which has led to increased attention to encryption AI-related projects.

ICE - a single-day increase of 22.74%, circulating market capitalization of $57.5 million.

Ice Open Network (ION) is a layer 1 blockchain with a full suite of Decentralization services, including digital identity verification, social media interaction, content delivery, and secure data storage. These integrated services are designed to enhance user capabilities, improve privacy protection, and facilitate seamless digital interactions globally.

The reason for this pump may be that in September, six exchanges listed ICE Token, greatly increasing Liquidity.

Highlight Data

BTCSpot ETF September 24th total net inflow of approximately $136 million According to SoSoValue data, the US BTCSpot ETF had a net inflow of approximately $136 million on September 24, with a net inflow for 4 consecutive days, and a total daily trading volume of $11.1 billion. The cumulative net inflow total is $17.83 billion, and the current total value of BTC managed by the ETF is $586.7 billion, accounting for 4.62% of the total BTC market capitalization. Of the $136 million net inflow on a single day, BlackRock's IBIT accounted for $98.89 million, or 73%.

Ethereum Spot ETF total net inflows on September 24 were $62.51 million According to SoSoValue data, the US ETH Spot ETF saw a net inflow of $62.51 million on September 24, with a total daily trading volume of $180 million. The cumulative net outflow is $545 million, and the total value of ETH managed by the ETF is $7.2 billion, accounting for 2.26% of the total Ethereum market capitalization.

Wintermute initiates a proposal to request 250 million ARB tokens Wintermute proposes in the Arbitrum DAO to use funds to support strategic partners of the Arbitrum Foundation. The proposal points out that the foundation is facing budget constraints, slow fund locking and unlocking, which hinders its ability to establish protocols with multiple partners. The proposal aims to help the foundation better support the rise of the Arbitrum ecosystem, especially the expansion of the Orbit chain and cooperation with traditional Financial Institutions.

Compared to the 7.5% or even around 20% of the total Token amount proposed by various Layer2, Arbitrum's current incentive accounts for only 1.8% of the total Token. The current support rate for this proposal is about 99%, which is highly likely to be finally approved. Once approved, a portion of the 250 million ARB will be allocated to the new protocol, bringing new vitality to Arbitrum and providing new incentives for active applications and protocols within the ecosystem.

POS Public Chain stakeMarket Cap exceeds $500 billion As of September 25, 4:00 (UTC+0), the stakeMarket Cap of POS public chain reached $507.1 billion, with a 24-hour rise of 2.07%. In the past 7 days, the rise in stakeMarket Cap of the top five POS public chains exceeded 10%, with SUI having the largest rise, reaching $13.88 billion, a 46.3% rise in the past 7 days and a 15.26% rise in the past 24 hours. Currently, the stake rate of SUI is 78.84%, and the stake yield is 3.09%.

Hotspot Comments

SEC reaches settlement with TrueCoin LLC and TrustToken Inc over Stable Coin TrueUSD On September 25th, the Securities and Exchange Commission (SEC) reached a settlement with TrustToken and TrueCoin, resolving fraud charges against TrueUSD. The two companies will pay fines of $163,766 each, with TrueCoin also required to provide refunds. Previously, the SEC questioned the unregistered issuance of TUSD investment contracts by TrueCoin and TrustToken, and alleged false advertising of investment opportunities regarding their security and asset backing. Earlier this year, the stability of TUSD was questioned due to its depegging from the US dollar.

TrueUSD (TUSD) is the first stablecoin pegged to the U.S. dollar, with its underlying reserves audited daily by an independent third-party institution. Each TUSD Token corresponds to 1 U.S. dollar. In the period from February to March this year, TUSD experienced a significant depeg due to market panic. During the depeg period, two anonymous investors made large-scale purchases, helping TUSD re-anchor its value.

The SEC has reached a settlement with TUSD, TrueCoin LLC, and TrustToken Inc, once again proving the legal status of stablecoins in the financial market. The decision to pay fines and refunds also reflects the regulatory authorities' emphasis on protecting the interests of investors. In the future, with the gradual improvement of the regulatory environment, the stablecoin market may usher in more innovation and standardization. Market participants need to closely follow regulatory developments and adjust their strategies in a timely manner to meet new compliance requirements.

Banana Gun: 11 users lost 3 million US dollars in the previous security incident, which will be fully compensated by the treasury Recently, several users in the Banana Gun community of the Telegram Bot project reported that their Wallets were attacked and funds were transferred. After a team investigation, it was found that 11 users, involving a total of 3 million dollars worth of encryption assets, were affected. This attack mainly targeted experienced traders in the encryption industry and 'smart money' users. The EVM and Solana bots of Banana Gun were also affected and trading has been temporarily suspended.

Banana Gun official released a security incident update on September 25th, stating that its EVM and Solana robots have been reactivated. There are no other restrictions except for a 2-hour transfer latency. Banana Gun will fully compensate all affected users without raising funds through the sale of tokens.

After a comprehensive investigation by the Banana Gun development team and external experts, it was found that the Telegram message Oracle Machine used may have potential vulnerabilities, which may be the main reason for this attack. After fixing the problem, Banana Gun implemented enhanced security measures and reactivated the robot. Future mitigation measures include but are not limited to adding two-factor authentication, reviewing front-end and back-end code, and working with security teams for review.

It is worth noting that the target of this attack is mainly experienced users in the industry, who usually have stronger security awareness and operational experience. This attack demonstrates that even technically proficient traders find it difficult to completely avoid security risks, highlighting the complexity and diversity of potential vulnerabilities in the current Web3 ecosystem. As the complexity of Decentralized Finance and robot applications continues to increase, especially projects like TON on-chain robots, it is still necessary to continuously enhance security measures to avoid similar attacks again.

Financing News

According to Rootdata's investment and financing data, there were 2 projects funded from September 23rd to September 24th, 2024, with the highest amount of financing being 6 million USD for the Daylight project, totaling 10 million USD in financing. Specific project information:

Daylight - Daylight is a Wallet information tracking platform, equivalent to a Wallet aggregator, currently integrated into mainstream Wallets such as MetaMask. Daylight also provides personalized activity suggestions for users, including Airdrop applications, Non-fungible Token minting, game tasks and other reward information. This round of financing was led by institutions such as Framework Ventures, with a total financing amount of 6 million US dollars.

Meridian — Meridian is the local Liquidity layer of Movement, aiming to securely expand and support efficient capital flow through Move. On September 24th, Meridian announced the completion of a $4 million seed round of financing. ParaFi Capital and Borderless Capital led the investment, with participation from institutions such as Amber Group. Currently, the project plans to expand its global team and actively recruit talents in engineering, product, and marketing. Currently, the Move ecosystem only accounts for a small part of on-chain Liquidity and volume, and Meridian will strive to narrow this gap by leveraging the security and composability of the Move language.

Airdrop Opportunity

Sonic According to the official announcement from Sonic Labs, Sonic plans to officially launch the Mainnet in December and airdrop 200 million Tokens. At that time, the Mainnet will be launched and 200 million Tokens will be airdropped, including the following content:

*🔹Applications built and submitted on Sonic will enjoy up to 90% gas fee subsidies in User and Contract Trading.

• The platform will achieve a transaction performance of over 10,000 TPS, with a confirmation time of about 1 second.
• 🔹Sonic will launch its own native stablecoin.
• 🔹Will establish a secure gateway to Ethereum, promoting Cross-Chain Interaction transactions and interoperability.
• 🔹Developers can get grant support through Sonic BOOM and Innovator Fund to promote project development.

Specific Airdrop participation and redemption steps can follow the official follow-up announcement.

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