Gate Research Institute: stablecoin inflow of 74 billion USD | JustLend DAO TVL surpasses 7.82 billion USD

Encryption Asset Panorama

BTC (-2.24% | Current price 110,507 USDT)

The price of Bitcoin continues to weaken, dropping 2.24% in the past 24 hours with increasing volume. The technical outlook is bearish, having broken below the 5-day, 10-day, and 30-day moving averages, and the MACD has formed a death cross. In the short term, market sentiment is cautious, with investors generally waiting for new macro signals or capital inflows to confirm direction. If the price cannot quickly recover above the $111,000 range, Bitcoin may enter a longer phase of consolidation, with the next support possibly around $109,000. Overall, there is a clear divergence between bulls and bears, intensifying market contention, but trading volume remains active. If significant news or positive catalysts arise, the trend may rapidly reverse in the short term. Some analysts believe that against the backdrop of increased geopolitical and macroeconomic uncertainty, if Bitcoin can hold above the $111,000 level, it still demonstrates a certain level of resilience. On the other hand, the market's expectations for a significant interest rate cut by the Federal Reserve this year may become an important catalyst for driving a Bitcoin rebound.

ETH (-3.17% | Current Price 3,981 USDT)

Ethereum is currently priced at $3,981, down 3.17% in the past 24 hours, with increased selling volume. It has fallen below the 30-day moving average and is oscillating near the 5-day and 10-day moving averages. The MACD, which just formed a golden cross yesterday, quickly turned into a death cross, indicating a weakening of short-term bullish momentum, with the market returning to a bearish dominance. The price has broken below the critical threshold of $4,000, bringing an end to the rebound momentum from the previous days, and is currently approaching the next support level at $3,750. The Relative Strength Index (RSI) is at 43.5, slightly below the neutral level of 50, indicating that Ethereum has not yet entered the oversold territory. However, ETH remains below the key resistance zone (4,200-4,300), suggesting that the recent rebound was an early stage of structural repair rather than a confirmed bullish continuation.

GT (-0.17% | Current Price 15.98 USDT)

GT is currently priced at 15.98 USD, having slightly declined by 0.17% in the past 24 hours. The trading volume has continued to shrink since Tuesday, indicating an increase in market wait-and-see sentiment. The price has fallen below the 5-day, 10-day, and 30-day moving averages, showing a weak short-term trend. The MACD indicates that the DIF line has crossed below the DEA line, forming a death cross, with technical signals continuing to lean bearish. The price is approaching the lower Bollinger Band at 15.93 USD. If it fails to stabilize here, it may further test the key support level around 15.7 USD. Currently, there are no obvious signs of bottoming out; attention should be paid to the recovery of trading volume and the repair of short-term moving averages to confirm potential rebound momentum.

Daily Price Change Tokens

In the past 24 hours, the overall cryptocurrency market has declined, with mainstream coins generally falling. BTC dropped by 1.33%, ETH fell even more, reaching a decline of 2.43%, and SOL led the mainstream sector with a drop of 3.65%. BNB, XRP, ADA, and others recorded declines of 1-3%. Stablecoins USDT and USDC remained largely flat, while TRX rose against the trend by 1.06%, becoming one of the few assets to increase. Overall market sentiment is bearish, with a rising willingness for capital to seek safety. According to CoinGecko data, this week the AI Framework and AI Applications sectors performed well, with an increase of over 48% in the past 7 days. Below are the representative popular tokens in each sector and an analysis of the reasons for their rise.

DEGO Dego Finance (+18.97%, circulating market value 25.3848 million USD)

According to Gate.io market data, the DEGO token is currently priced at $1.20, with a 24-hour increase of 18.97%. Dego Finance is a cross-chain NFT + DeFi protocol and infrastructure, as well as an open NFT ecosystem. Anyone can create NFTs, initiate NFT mining, auction, and trade. Dego Finance also provides a cross-chain infrastructure to enable blockchain projects to expand their user base, distribute tokens, and develop more NFT-powered applications.

According to the announcement from DEGO's official X account, DEGO is incubating BOT3 AI, aimed at elevating AI-driven Web3 social experiences to new heights. Additionally, DEGO has collaborated with BOT3 AI and DeFusion AI to launch multiple events and giveaways to enhance its influence in the Web3 community. DEGO has surged 78% since October 11, breaking through all key resistance levels, accompanied by high momentum and sustained volume, indicating a clear dominance of buyers. If the upward momentum continues, the price is expected to further explore the range of 1.60-1.70. At the same time, traders should be aware of short-term pullback risks near 1.45, as profit-taking may temporarily cool down the upward trend.

YGG Yield Guild Games (+12.72%, circulating market cap 102 million USD)

According to the market data from Gate.io, the YGG token is currently priced at 0.16 USD, with a 24-hour increase of 12.72%. Yield Guild Games is a decentralized autonomous organization (DAO) that provides global players access to “Play-to-Earn” (P2E) games through blockchain technology. YGG not only invests in NFTs used in blockchain games but also offers players the opportunity to participate in the virtual economy, enabling them to earn profits within the games.

The recent surge in popularity is attributed to the announcement by a globally renowned CEX that it will officially launch YGG on October 15. This news has sparked market attention on the blockchain gaming sector and increased trading activity. The support from the CEX is expected to enhance the liquidity of YGG and may also attract more mainstream investors and gaming enthusiasts into the P2E ecosystem, thereby promoting the development of the entire blockchain gaming industry.

BLESS Bless (+503.87%, Circulating Market Cap 354 million USD)

According to Gate market data, the BLESS token is currently priced at $0.19, with a 24-hour increase of 503.87%. Bless is a decentralized edge computing network that provides on-demand CPU and GPU capabilities for AI, machine learning, and advanced data tools near end users.

The factors driving the price increase of BLESS are as follows: First, it stems from the bullish double bottom pattern formed at 0.0234 USD, with the lows appearing on October 1 and October 10; the double bottom is one of the most bullish patterns in technical analysis. Second, the CEX Alpha competition is driving participation, allowing users to share a 2 million USD reward to further boost BLESS. Third, the developers recently released a roadmap revealing Bless's future potential, which includes launching GPU-ready nodes and fiat deposit channels in the coming weeks, providing support for ecosystem expansion. These factors, combined with technical aspects and external positive news, have led to a strong performance of the Bless token recently, attracting more attention in the P2E and blockchain ecosystem.

Hot Topics Interpretation

Stablecoin inflow of 74 billion USD supports encryption liquidity amid market crash.

Matrixport pointed out that amid the recent severe correction in the encryption market, stablecoins played a key role as a “liquidity buffer,” supporting the overall market's funding liquidity. Despite significant declines in mainstream assets such as Bitcoin and Ethereum, stablecoins (especially USDT and USDC) continue to attract massive inflows. Reports indicate that Tether has issued approximately $42 billion in new stablecoins, while Circle has added around $32 billion, together contributing about $74 billion in new stablecoin supply, injecting momentum into the encryption ecosystem and strengthening the market's capacity to bear during times of crisis.

These fund inflows reflect investors' preference for safe-haven assets during periods of significant market volatility, with stablecoins having developed into an indispensable foundational asset class in the encryption market. The overall market capitalization of stablecoins has now exceeded $300 billion, making it an important part of the market structure. Additionally, U.S. Treasury Secretary Basant has predicted that the future scale of stablecoins will reach trillions of dollars. Although the current level is still relatively low, its role in stable asset allocation, capital entry, and capital flow is becoming increasingly prominent, fully demonstrating that the field of encryption assets is accelerating in maturity and development.

JustLend DAO TVL突破 78.2 billion USD

The core lending protocol of the TRON ecosystem, JustLend DAO, has announced the latest data, with the total value locked (TVL) on the platform surpassing $7.82 billion, the number of users exceeding 477,000, and a cumulative issuance of Grants exceeding $129 million.

As a leading decentralized lending platform on TRON, JustLend DAO has become one of the most important DeFi infrastructures within the ecosystem, supporting the rapid growth of core businesses such as stablecoin lending and liquidity mining. The continuous rise in TVL indicates the steady improvement of platform asset security and user trust, reflecting the expansion momentum of the TRON DeFi ecosystem. In the future, JustLend DAO plans to continue enhancing the lending efficiency and yield experience for global users by optimizing on-chain governance and risk control mechanisms, accelerating the influence of the TRON ecosystem in the global decentralized finance landscape.

The stablecoin infrastructure company OwlTing is about to go public on Nasdaq.

The Taiwanese stablecoin infrastructure company OwlTing will be listed on the NASDAQ Global Market on Thursday, marking its first entry as one of the first blockchain companies in Asia to be directly listed on a major U.S. exchange. The company's Class A common stock is expected to start trading on October 16, with the stock symbol OWLS. This move makes OwlTing one of the first blockchain enterprises in Asia to publicly trade on the U.S. main board market in this way. In terms of business, OwlTing's core product is OwlPay, a payment infrastructure platform that supports stablecoin and fiat payments, aimed at providing convenient cross-border payment solutions for global enterprises. The company expects to achieve revenues of $7.6 million in 2024, a year-on-year increase of approximately 18%, with a total payment volume of $218 million, a year-on-year increase of approximately 62%. Although there is a net profit loss due to listing costs, the company anticipates that profitability will gradually improve as it scales up and optimizes its business.

Through the path of listing on NASDAQ and strict governance standards, OwlTing is likely to enhance its credibility in the international market, helping to attract long-term funds, and successfully opening new paths for other Asian Web3 and blockchain companies in the North American capital market. Furthermore, OwlTing's public listing helps to bring stablecoin infrastructure projects into the view of traditional capital markets, promoting more institutional capital to flow into the blockchain payment and stablecoin sectors. <br> Reference Materials:

• Gate, https://www.gate.com/trade/BTC_USDT
• Farside Investors, https://farside.co.uk/btc/
• Gate, https://www.gate.com/trade/ETH_USDT
• Gate, https://www.gate.com/crypto-market-data
• Coingecoko, https://www.coingecko.com/en/cryptocurrency-heatmap
• Yahoo Finance, https://finance.yahoo.com/news/stablecoin-startups-raise-record-amounts-073231510.html
• X, https://x.com/DeFi_JUST/status/1978353898953007110
• Crypto.news, https://crypto.news/matrixport-stablecoins-hold-up-crypto-liquidity-amidst-market-crash/
• DeFiLlama, https://defillama.com/stablecoins
• TradingView, https://www.tradingview.com/news/coindar:b5d9dad4a094b:0-yield-guild-games-to-be-listed-on-upbit/
• X, https://x.com/dego_finance

<br> Gate Research Institute is a comprehensive blockchain and encryption research platform that provides readers with in-depth content, including technical analysis, hot insights, market reviews, industry research, trend predictions, 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 they are purchasing before making any investment decisions. Gate is not responsible for any losses or damages resulting from such investment decisions.