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Gate Research Institute: Robinhood Plans to Launch Layer 2 Blockchain | Circle Applies for US Banking License
Crypto Market Overview
Trending Tokens on Juejin
PROM Prometeus* (+12.91%, circulating market value 115 million USD)*
According to Gate.io market data, the current price of the PROM token is $6.27, with a 24-hour increase of 12.91%. Prom is a market at the core of the Web3 gaming ecosystem focused on trading and exchanging NFT assets, providing decentralized NFT leasing and collateral loans through wallets that use smart contracts. In addition, it offers a range of other services, including NFT trading markets and aggregators, educational portals and analytical tools, decentralized exchanges for GameFi assets, and asset management tools, helping any NFT gaming enthusiast benefit from entering the blockchain world.
Recently, the PROM project has not had any significant updates. On June 30, the project published a text tweet on social media saying "Stay bullish in the coming week." As a result of this news, the PROM token has risen by over 12% in the last 24 hours. On the K-line, PROM has achieved six consecutive daily gains, and the price trend is strong, with strong support at 5.4 to 5.5 dollars.
BCH Bitcoin Cash (+4.66%, circulating market cap 10.386 billion USD)
According to Gate.io market data, the current price of BCH token is $524.5, with a 24-hour increase of 4.66%. Bitcoin Cash (BCH) is a crypto asset launched by ViaBTC based on the Bitcoin ABC proposal, which was created from a hard fork of the original Bitcoin chain in 2017. Highlights include: on-chain scaling, new transaction signatures, new difficulty adjustment algorithm, and decentralized development. BCH follows Satoshi Nakamoto's scaling roadmap and is committed to global adoption.
The rise in BCH price over the past 24 hours has been primarily driven by technical factors, as BCH has successfully broken through the key resistance level of $520 that had been difficult to surpass for the past two months, and has turned it into support. The current price remains above the resistance level, indicating strong bullish momentum.
ALGO Algorand (+3.55%, circulating market cap 1.636 billion USD)
According to Gate.io market data, the current price of ALGO token is $0.189, with a 24-hour increase of 3.55%. Algorand is a public open-source blockchain based on the PPoS (Pure Proof of Stake) consensus protocol, developed by the Algorand Foundation. Algorand was created by the renowned cryptographer, leader in cryptographic research, and 2012 Turing Award winner Silvio Micali. A key feature that enables Algorand to be highly scalable is its PPoS consensus mechanism. This protocol allows it to process multiple transactions quickly without sacrificing decentralization.
Recently, there have been no significant updates on the Algorand project. The rise in the price of the ALGO token is mainly due to market rotation and the rebound after months of continuous decline. In January 2025, the price of the ALGO token reached a temporary high of 0.4 USD, after which it continued to decline to the position of 0.15 USD.
Alpha Interpretation
Robinhood plans to launch a Layer 2 blockchain and offer "stock tokens" services in the EU.
Online brokerage firm Robinhood announced that it will allow EU customers to trade U.S. stocks and ETFs on the blockchain. These assets, referred to as "Robinhood Stock Tokens," will enjoy zero commissions, and holders will receive dividends within the broker's app. Furthermore, Robinhood plans to transfer these tokenized stocks to its own Layer 2 blockchain, reportedly called Robinhood Chain, which will be "based on Arbitrum," typically offering faster and more efficient transaction processing.
Robinhood's move to enter the EU market could significantly promote the adoption of RWA (real-world assets). Its innovative stock tokenization scheme lowers the barriers to entry for traditional finance through a zero-commission model and on-chain dividend distribution. By building a Layer 2 dedicated chain based on Arbitrum technology, the platform not only enhances trading efficiency but may also reshape the infrastructure standards for security tokens—this attempt to deeply integrate traditional stocks with blockchain characteristics could catalyze more financial institutions to explore compliant application scenarios for RWA, accelerating the process of global securities market liquidity migrating on-chain.
Circle applies for a U.S. banking license to custody USDC reserves
According to a report by Reuters, stablecoin issuer Circle has applied for a national bank charter in the United States, which will allow it to act as a custodian for USDC reserves and hold crypto assets for institutional clients. However, the charter does not permit Circle to accept cash deposits or issue loans like traditional banks. Circle plans to name the entity regulated by the Office of the Comptroller of the Currency (OCC) as First National Digital Currency Bank, N.A.
Circle's application for a national bank charter in the United States lays an important foundation for the long-term development of its stablecoin USDC, demonstrating its ambition on the path to compliance and institutionalization. After obtaining the charter, Circle's capabilities as a reserve custodian for USDC and in providing crypto asset custody services to institutional clients will be significantly enhanced, likely further solidifying USDC's leading position in the crypto market, especially in terms of institutional adoption and competitiveness in cross-border payment scenarios. In the future, Circle needs to continuously optimize its compliance framework against the backdrop of tightening global regulations while promoting the expansion of USDC's application scenarios in DeFi, cross-border trade, and emerging markets.
Polygon Labs and GSR jointly launched the Katana blockchain, focusing on DeFi.
Polygon Labs has launched Katana, an Ethereum Layer 2 blockchain focused on DeFi in collaboration with crypto market maker GSR, aiming to address the issues of on-chain asset fragmentation and unsustainable yield driven by high inflation. Katana adopts a centralized screening mechanism, supporting only a few financial applications, and utilizes the VaultBridge protocol to channel user assets back to Ethereum's Morpho protocol for low-risk lending, with the resulting yields returned to Katana to enhance the yield levels of key applications.
Katana, with its strategic focus on DeFi optimization and innovative mechanisms, demonstrates strong market prospects and development potential. By effectively concentrating resources through a strategy of selecting financial applications, it optimizes on-chain liquidity and capital efficiency, which may attract institutions and high-net-worth users seeking stable returns and low-risk investments. In the future, its development will hinge on its ability to continuously attract high-quality DeFi projects, optimize user experience, and maintain technological stability and security during large-scale adoption. If it can establish a differentiated advantage in the competitive Layer 2 market, Katana is expected to become one of the core infrastructures in the DeFi sector of the Ethereum ecosystem.
Gate Launchpool
New Share Details
Project Introduction
Fragmetric was initially Solana's first native liquidity (re)staking protocol, which later evolved into the advanced FRAG-22 asset management standard. This new standard seamlessly integrates multi-asset deposits, precise reward distribution, and modular yield sources, allowing both developers and users to efficiently access complex DeFi strategies. Fragmetric plans to integrate more DeFi protocols and collaborate with NCN projects such as Jito Staking, Squads Protocol, Switchboard, Sonic SVM, and Ping Network to promote the expansion of the Solana ecosystem.
Reference Material:
[Gate Research Institute](https://www.gate.com/learn/category/research) is a comprehensive blockchain and encryption currency research platform that provides readers with in-depth content, including technical analysis, hot insights, market reviews, industry research, trend forecasts, and macroeconomic policy analysis.
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