Gate Research Daily Report: On June 13, BTC dropped 4.30% to 103,884 USDT, briefly falling below 103,000 USD during the session, with daily ETF net outflows reaching $202 million. ETH fell 10.76% to 2,474 USDT; ETH ETFs recorded net inflows for the 18th consecutive trading day, with $10.8 million net inflow yesterday. The altcoin market continued to decline, as the Fear and Greed Index dropped to 54. U.S. stock markets closed higher on Thursday, with the Dow and S&P 500 hitting new three-month highs. May PPI data beat expectations. Spot gold was quoted at $3,435.15 per ounce, up 1.43% in 24 hours. The SEC has officially repealed the stringent DeFi regulatory proposals from the Gensler era, bringing short-term regulatory relief for the industry. Uniswap Wallet launched a smart wallet feature, supporting one-click swaps and bundled transactions. Polygon’s native token POL has bridged to Solana through the Wormhole NTT framework. Gate Launchpool has launched a new project, MEET48.

Crypto Market Overview

- BTC (-4.30% | Current price: 103,884 USDT): After consolidating around $109,000 for some time, BTC experienced another drop, falling below $103,000 intraday. On Tuesday, BTC ETFs saw outflows totaling $202 million, with Ark’s ARKB experiencing an outflow of $10.7 million and Fidelity’s FBTC seeing an outflow of $197 million.

- ETH (-10.76% | Current price: 2,474 USDT): ETH rallied strongly along with the broader market and consolidated around $2,800, but has since followed the overall market’s downturn. The ETH/BTC ratio has fallen to 0.023; ETH’s market dominance is down to 9.42%. On Tuesday, ETH ETFs recorded a net inflow of $10.8 million, all of which came from Fidelity’s FETH, while flows to other ETFs were negligible. ETH ETFs have achieved net inflows for 18 consecutive working days.

- Altcoins: The market has weakened again with most sectors in decline. The Fear & Greed Index has fallen to 54, signaling further weakening of market sentiment.

- Macro: U.S. stocks closed higher on Thursday, with all three major indexes gaining; both the Dow and S&P 500 hit at least 3-month closing highs. Dow Jones rose 0.24%, S&P 500 increased 0.38%, and the Nasdaq Composite was up 0.24%. Pre-market, a better-than-expected PPI report boosted equities. Data shows U.S. May PPI rose 2.6% year-over-year, in line with expectations; core PPI was up 3%, below the market’s 3.1% forecast. As of 11:00 am June 11 (UTC+8), spot gold was quoted at $3,435.15/oz, up 1.43% in 24 hours.

Trending Tokens

ATM Atletico Madrid Fan Token (+11.17%, Circulating Market Cap: $8.08 million)

According to Gate.io market data, the current price of the ATM token is $1.204, with a 24-hour increase of 11.17%. ATM’s current circulating market cap is $8.08 million.
Atletico de Madrid Fan Token (ATM) is a fan token based on the Chiliz Chain, designed to provide Atletico Madrid football club fans with opportunities to interact and participate via the Socios platform. As a utility token running on the Ethereum-based Proof-of-Authority sidechain Chiliz Chain, ATM is mainly used in the following scenarios: governance, where holders can vote on fan decisions via smart contracts; rewards, where users can participate in activities on Socios to earn exclusive rewards; and staking, where users will in the future be able to stake ATM to receive NFT rewards.
ATM’s recent price performance has been steadily rising, driven by two factors: first, the deep integration of the Chiliz ecosystem with the global sports industry has attracted a large user base, especially when Atletico Madrid matches grow in popularity, increasing ATM demand. Second, functionality improvements on the Socios platform and the anticipated launch of the NFT rewards mechanism have further enhanced the appeal of ATM in the market.

NXPC NEXPACE (+10.46%, Circulating Market Cap: $246 million)

According to Gate.io market data, the current price of NXPC is $1.41, with a 24-hour gain of 10.46%. The circulating market cap is $246 million.
MapleStory Universe (NXPC) is a blockchain-based decentralized gaming ecosystem developed by Korean gaming giant Nexon via its blockchain subsidiary NEXPACE. It is built on Avalanche’s Henesys L1 and integrates the 20-year legacy of the MapleStory IP, providing blockchain-driven MMORPG applications such as “MapleStory N.” NXPC is the core governance and utility token of the MapleStory Universe ecosystem, enabling players to create and trade NFT assets and participate in a “Create-to-Earn” economic model. Users can use NXPC for in-game item exchanges, ecosystem governance, and developer incentives. The ecosystem utilizes blockchain technology to provide true asset ownership and a community-driven economic system, with wide applications in Web3 gaming and NFT sectors.
NXPC’s recent strong price performance is mainly driven by: first, MapleStory Universe’s large user base from the MapleStory IP (over 180 million global registrations) and Nexon’s brand impact have attracted traditional gamers and crypto users, especially with the sharp increase in ecosystem trading volume following the “MapleStory N” launch on May 15, 2025, boosting NXPC demand. Second, listings of NXPC on major exchanges have significantly improved liquidity and market accessibility. Combined with the innovative “Reward Experience” (RX) mechanism and a three-token model (NXPC, NFT, NESO), these factors strengthen the token’s utility and long-term value potential.

SOLV Solv Protocol (+6.00%, Circulating Market Cap: $67.35 million)

According to Gate.io market data, SOLV is currently quoted at $0.045, with a 24-hour increase of 6.00%. Its circulating market cap is $67.35 million.
Solv Protocol (SOLV) is a leading Bitcoin staking protocol focused on unlocking Bitcoin liquidity and maximizing the utility of idle Bitcoin assets, building a Bitcoin-centric decentralized finance ecosystem. SOLV, based on the Bitcoin network, enables users to stake BTC in the protocol to participate in DeFi activities and earn yields while retaining Bitcoin’s long-term value.
As core infrastructure within the Bitcoin ecosystem, the price of SOLV is closely correlated with the performance of BTC. Recent Bitcoin price volatility and the growing demand for BTC DeFi have directly driven up the usage of SOLV. Furthermore, ongoing technical optimizations to Solv Protocol, such as cross-chain interoperability and staking mechanism upgrades, have enhanced its appeal and user participation. Its unique positioning in the Bitcoin DeFi space has stimulated greater market enthusiasm.

Alpha Insights

SEC Formally Repeals Strict DeFi and Custody Proposals from Gary Gensler Era

On June 13, the U.S. Securities and Exchange Commission formally withdrew a number of proposed rules that would have imposed stricter regulation on DeFi and cryptocurrency custody. These proposals, put forward under former chairman Gary Gensler, reflected an “enforcement-first” regulatory approach. The repealed rules included proposed amendments to Section 3b-16 of the Exchange Act issued in April 2023.
This withdrawal is seen as a phase victory for the DeFi and crypto industry, easing compliance burdens and regulatory pressures in the short term and sending a positive signal for industry innovation and development. However, this does not mean regulations are entirely off the table; the SEC has not indicated it will abandon attempts to regulate DeFi and may revisit regulation in other forms in the future.
This move is also seen as a policy shift, possibly reflecting a moderation of its earlier tough stance under political or industry pressure and suggesting a search for a more balanced and sustainable regulatory approach. Given the United States’ global influence in the crypto market, this change may set an example for other countries, giving DeFi more room for development in the short term worldwide.

Uniswap Wallet Enables Smart Wallet Features, Supports One-Click Swaps

Uniswap Labs recently announced that Uniswap Wallet users can now enable smart wallet functionality, offering features such as one-click swaps and bundled transactions, which significantly enhance the user experience and help reduce gas costs. Uniswap also plans to introduce gas sponsorship and the ability to pay fees with any token, further lowering the user threshold. The new wallet defaults to smart wallet features, underscoring Uniswap’s investment and commitment to improving product usability.
This upgrade not only improves the user experience—especially for newcomers—but also reflects Uniswap’s ongoing technological innovation. The smart wallet is designed based on Ethereum’s EIP-5792 standard and the upcoming Pectra upgrade, highlighting Uniswap’s advantages in infrastructure innovation.
These features are likely to further cement Uniswap’s leading position in the decentralized exchange (DEX) market. However, the introduction of more complex contract mechanisms with smart wallets may also introduce potential security risks such as contract vulnerabilities, so users should remain cautious while enjoying the convenience.

Polygon Brings Native Token to Solana via Wormhole’s NTT Framework

On June 12, Polygon officially announced that its native token POL has been successfully integrated with the Solana blockchain via Wormhole’s Native Token Transfers (NTT) framework. This cross-chain integration is a critical step in Polygon’s cross-chain strategy, significantly improving POL’s interoperability and liquidity, and providing access to the Solana user and developer community.
Wormhole stated that, leveraging the NTT framework, Polygon can deploy its native token on Solana while retaining POL’s core utilities, such as paying transaction fees, securing the network, and community governance. This means that POL’s migration between chains no longer requires wrapped assets, enabling true native token-level functionality on different chains.
This integration not only strengthens Polygon’s cross-chain capabilities but also demonstrates its commitment to building a more open and interconnected blockchain ecosystem, paving the way for more POL-based use cases to be deployed across multiple chains.

Gate Launchpool

Subscription Details

Participating Project: MEET48
Token Name: IDOL
Subscription Period: Until June 16, 2025, 20:00 (UTC+8)
How to Participate: Stake BTC, ETH
Total Airdrop Amount: 2,857,143 IDOL

Project Introduction

MEET48 is a Web3 project merging AIUGC, idol culture fan economy, ecosystem, and a launchpad platform. It targets over 30 million fans from strategic partner SNH48, as well as global supporters of our idols. The project attracts content creators and AI enthusiasts to use tools such as AIShowBOX and MaaS, while also offering Web3 gamers immersive metaverse experiences including virtual romance, dance simulation, and idol management games.

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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.