Crypto Market Overview

• BTC (0.30% | Current Price: 110,828 USDT): Recently, BTC has been consolidating around the $110,000 level. Structurally, BTC experienced an upward trend from July to early August, reaching a high of $124,497, before encountering resistance and retracing to a low of $98,200, maintaining an overall range between $98,000 and $124,000. The current price is consolidating near the mid-range, with trading volume gradually decreasing, indicating a market in a wait-and-see phase. On September 5, BTC ETFs saw a net outflow of $160 million, including $63.2 million from BlackRock’s IBIT.
• ETH (0.01% | Current Price: 4,297 USDT): ETH has been trading in a narrow range near $4,300. The current price is below MA30 ($4,424), reflecting weakened mid-term upward momentum. If ETH can reclaim and stabilize above $4,420 (MA30 and previous resistance zone), a renewed upward movement may occur. On September 5, ETH ETFs recorded a net outflow of $446 million, including $309 million from BlackRock’s ETHA and an inflow of $37.8 million into Fidelity’s FETH.
• Altcoins: Most major altcoins experienced minor declines, with overall market sentiment remaining neutral. The Fear & Greed Index today is 51, within the normal range, indicating a slight easing of previous market panic.
• Macro: On September 5, the S&P 500 fell 0.32% to 6,481.5 points; the Dow Jones Industrial Average declined 0.48% to 45,400.86 points; and the Nasdaq decreased 0.03% to 21,700.39 points. As of 3:00 AM (UTC) on September 8, spot gold is priced at $3,590 per ounce, up 0.1% over the past 24 hours.

Trending Tokens

SOMI — Somnia (+34.65%, Circulating Market Cap: $232 million)

According to Gate data, SOMI is currently priced at $1.46, up 34.65% in the past 24 hours. Somnia is an L1 blockchain coupled with a full-chain protocol connecting the metaverse, aiming to create a new, open, and unified virtual society. It enables developers to create portable and remixable content by upgrading existing NFTs.

The recent surge is driven by three key factors:

• Mainnet launch and airdrop events significantly boosted market expectations and user engagement.
• Listing on major exchanges increased liquidity and investor accessibility, attracting new capital inflows.
• Rising community interest, combined with Somnia’s narrative as an L1 blockchain and full-chain metaverse protocol, amplified investor sentiment.

Overall, SOMI’s rapid ascent is fueled both by fundamental milestones and by the dual catalysts of market sentiment and liquidity.

GPS — GoPlus Security (+26.26%, Circulating Market Cap: $12.02 million)

According to Gate data, GPS is currently priced at $0.014, up approximately 26.26% in the past 24 hours. GoPlus Security is the first decentralized security layer for Web3, offering comprehensive protection for every transaction across all blockchain networks. Its open, permissionless, and user-driven architecture allows seamless integration with any blockchain or project.

The token’s price surge is mainly attributed to bullish technical signals, strategic ecosystem updates, and eased dilution concerns. A key catalyst was the official announcement of the GoPlus SafeToken Locker, which supports flexible lockup periods and reward claims, while being deeply compatible with major DEXs. This enhancement not only bolstered investor confidence but also signaled the project’s commitment to long-term development.

WLD — Worldcoin (+22.43%, Circulating Market Cap: $2.388 billion)

According to Gate data, WLD at $1.21, rising approximately 22.43% in the past 24 hours. Worldcoin is an open-source protocol designed to enable universal access to the global economy. Its decentralized structure means oversight and decision-making ultimately relies on its user community.

The recent price surge was driven by accelerated ecosystem adoption and partnerships. Key catalysts include the official launch of the World Build 2 application, enhancing real-world utility and user engagement, and the addition of Peru’s University of Engineering and Technology (@utecpe) to the AMPC partner network, promoting the implementation of quantum security research. These developments strengthened market confidence in WLD’s long-term potential and drove the recent price rally.

Alpha Insights

Tokenized Gold on Ethereum Reaches $2.4 Billion, Nearly 100% Growth Year-to-Date

According to Token Terminal data, the total value of tokenized gold on Ethereum has reached $2.4 billion, achieving nearly 100% growth since the beginning of the year. The market is currently dominated by PAXG and XAUT, reflecting an accelerating migration of traditional safe-haven assets onto the blockchain. The adoption and liquidity of on-chain gold are steadily increasing.

The rapid expansion of tokenized gold highlights the growing demand for “physical assets on-chain.” On one hand, it allows investors to allocate stable assets within the blockchain ecosystem; on the other hand, it demonstrates Ethereum’s increasing capacity as a foundation for asset tokenization. Notably, tokenized gold not only provides a new collateral and trading asset class for DeFi but also serves as a potential entry point for traditional capital into the crypto ecosystem beyond stablecoins.

Ethereum Layer 2 Network Kinto Announces Closure on September 30

Ethereum Layer 2 project Kinto announced that it will officially shut down on September 30. In July, the platform suffered a smart contract vulnerability, allowing hackers to forge 110,000 Kinto tokens and cash out approximately 577 ETH, causing the token price to plummet over 95%. Although the team later introduced the “Phoenix” reboot plan, added debts and blocked financing made continued operations unsustainable. Founder Ramón Recuero stated that he would use personal funds to compensate some users and promised to return 76% of principal to Phoenix borrowers, while remaining platform assets will also be used for compensation.

Kinto’s closure underscores the significant challenges that emerging Layer 2 projects face in terms of security and sustainability. A single smart contract exploit not only destroys project credibility but also makes subsequent financing and ecosystem rebuilding nearly impossible. While teams may attempt to salvage projects through reboot plans, once market trust is lost, it is difficult to restore. This incident serves as a reminder that beyond scalability narratives and liquidity incentives, security and risk management are critical to long-term survival.

Solana Treasury Company DeFi Development Launches “.dfdv” Domain Service

Nasdaq-listed Solana treasury company DeFi Development (Ticker: DFDV) has officially launched the “.dfdv” domain service. This service allows individuals, institutions, and blockchain projects to register personalized digital identities, which can also be used as wallet addresses. DeFi Development stated that the initiative aims to build a decentralized identity layer for the community, and net proceeds from domain sales will support the company’s SOL treasury operations and growth.

The launch of the “.dfdv” domain service marks a significant step for the Solana ecosystem in digital identity and community development. By linking domains to wallet addresses, users gain more intuitive asset management and enhanced recognition and trust in on-chain interactions. Additionally, the direct reinvestment of domain sale proceeds into the treasury reflects innovative thinking in ecosystem sustainability and capital management. This initiative is expected to strengthen Solana community engagement and provide new entry points for on-chain asset management and DeFi applications.


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
• X, https://x.com/tokenterminal/status/1964351346376622423
• X, https://x.com/KintoXYZ/status/1964721235675537573
• Globenewswire, https://www.globenewswire.com/news-release/2025/09/05/3145315/0/en/DeFi-Development-Corp-and-AllDomains-Launch-dfdv-Domains-to-Expand-Digital-Identity-Across-the-Solana-Ecosystem.html

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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.