Gate Research Institute: SOMI continues to rise | The total amount of tokenized gold on Ethereum has increased by nearly 100% year-on-year.

Encryption Asset Panorama

BTC (0.30% | Current Price 110,828 USDT)

Recently, the BTC price has been oscillating around 110,000 USD, with short-term moving averages (MA5, MA10) entangled near the price, indicating a temporary balance between bullish and bearish forces. The current price is below MA30 (113,680 USD), suggesting that the medium-term trend remains weak and the market is in a recovery phase.

Structurally, BTC formed a wave of upward movement from July to early August, reaching a high of $124,497, then faced resistance and fell back to a low of $98,200, maintaining overall fluctuations within the range of $98,000 to $124,000. Currently, the price is consolidating in the middle of the range, with trading volume gradually decreasing, indicating that the market has entered a wait-and-see period.

If BTC can effectively break through $113,500 (near the MA30 resistance), it is expected to restart its upward trend and test the resistance zone of $117,000–$124,000; conversely, if it falls below the key support of $110,000, it may once again test the range of $105,000–$102,000, or even challenge the previous low of $98,200.

Overall, BTC is currently in a consolidation pattern, and the short-term direction remains to be confirmed. It is recommended to pay attention to the breakout situation at the support of 110,000 USD and the resistance of 113,500 USD.

In addition, on September 5, the net outflow of BTC ETF reached 160 million USD in a single day, with BlackRock's IBIT seeing an outflow of 63.2 million USD.

ETH (0.01% | Current Price 4,297 USDT)

Recently, the ETH price has been fluctuating narrowly around $4,300, with the short-term moving averages (MA5: 4,296; MA10: 4,334) closely following the price, indicating that the market has entered a consolidation phase. Currently, the price is running below MA30 (4,424), reflecting a weakening of the medium-term upward momentum.

Since the end of June, ETH has experienced a significant upward trend, rising from a low of 2,112 dollars to a high of 4,956 dollars, an increase of over 130%. However, after reaching the peak stage, ETH failed to break through effectively and subsequently entered a consolidation adjustment phase, with prices retreating and repeatedly finding support in the 4,200–4,300 dollar range.

In terms of trading volume, recent signs of reduced volume consolidation are evident, indicating that both bulls and bears are in a strong wait-and-see mood. If ETH can regain a footing above $4,420 (the MA30 and previous resistance zone), it is likely to resume an upward movement, targeting the $4,700–$4,950 range. On the contrary, if it breaks below the key support at $4,200, it may potentially retrace to the $3,950–$3,800 range, or even further test $3,500.

Overall, ETH is currently in a consolidation phase after a strong increase, with short-term trends leaning towards choppy consolidation, while the medium-term trend needs to wait for a directional breakout confirmation.

In addition, on September 5, ETH ETF saw a net outflow of $446 million in a single day, with BlackRock's ETHA experiencing an outflow of $309 million and Fidelity's FETH seeing an inflow of $37.8 million.

GT (0.06% | Current Price 16.89 USDT)

Recently, GT has been fluctuating narrowly around $16.8, with the price closely aligning with the short-term moving averages (MA5: 16.86, MA10: 16.85), indicating that the market is in a consolidation phase. The current price is slightly below MA30 (17.18), suggesting that the medium-term trend remains weak.

From a trend perspective, GT has experienced a significant decline since the beginning of June, bottoming out at 14.78 dollars. It has since oscillated repeatedly in the 16–18 dollar range, forming a clear horizontal consolidation zone. Although there were multiple attempts to break upwards during this period (with a peak reaching 21.93 dollars), none were able to hold, indicating heavy selling pressure above.

In terms of trading volume, there is an overall shrinking trend, and recent trading activity has significantly decreased, reflecting a strong atmosphere of fund wait-and-see sentiment. If GT can effectively break through and stabilize above $17.2 (MA30 and previous resistance level), it is expected to challenge the $18–19 range again. On the contrary, once it falls below the support level of $16, the price may retest the $15 level or even the low of $14.8.

Overall, GT is currently in a weak oscillating consolidation pattern, and attention should be paid to the breakout direction, with short-term bullish and bearish forces being relatively balanced.

Daily Price Fluctuation Tokens

In the past 24 hours, the overall encryption market has maintained an upward trend. BTC and ETH, as market indicators, have performed steadily, while some high market cap tokens such as SOL and XRP have slightly strengthened, with SOL showing a notable increase of +2.37%. Despite the overall market rising, individual tokens such as LEO and ENA still recorded declines, with a drop of -5.96%. Overall, funds continue to flow into the market and are rotating orderly among mainstream coins, which has also triggered significant fluctuations in some small market cap tokens.

In the capital game, some small and medium-sized tokens with clear narratives performed well: Somnia (+34.65%), GoPlus Security (+26.26%), and Worldcoin (+22.43%) all recorded strong gains, reflecting the market's continued optimism about their ecological development and phased expectations.

SOMI Somnia (+34.65%, circulating market cap 232 million USD)

According to Gate.io market data, the current price of SOMI token is $1.46, up 34.65% in the last 24 hours. Somnia is an L1 blockchain and a set of fully connected protocols for the metaverse, enabling a new, open, and unified virtual society. Somnia provides developers with endless possibilities to create portable and remixable content by upgrading existing NFTs.

The core drivers of this round of increase are mainly three points: First, the official launch of the mainnet and the airdrop activities significantly enhanced the market's expectations and participation in the project; second, the listing on large exchanges greatly increased liquidity and the accessibility for investors, attracting new funds into the market; third, the community's enthusiasm continues to rise, combined with Somnia's narrative advantages as an L1 blockchain and a full-chain metaverse protocol, further amplifying investment sentiment. Overall, the rapid rise of SOMI is driven not only by fundamental events but also benefits from the dual catalysis of market sentiment and liquidity.

GPS GoPlus Security (+26.26%, circulating market value 12.0168 million USD)

According to Gate's market data, the current price of the GPS token is $0.014, which has increased by approximately 26.26% in the last 24 hours. GoPlus Security is the first decentralized security layer for Web3, providing comprehensive protection for every transaction across all blockchain networks; its open, permissionless, and user-driven architecture allows for seamless integration with any blockchain or project. By protecting users at every stage of the transaction lifecycle, GoPlus creates a safer on-chain trading environment, ensuring peace of mind and trust in digital interactions.

The price of GPS tokens has risen significantly, primarily due to bullish technical signals, strategic ecosystem updates, and the alleviation of dilution concerns. Among these, the official announcement of the upcoming launch of GoPlus SafeToken Locker as a new ecosystem has become a key catalyst. This product supports flexible lock-up periods and reward collection functions, and is highly compatible with mainstream DEX, which not only enhances investor confidence but also reflects the project's long-term development commitment. This series of positive factors has jointly driven the buying power in the market.

WLD Worldcoin (+22.43%, circulating market cap 2.388 billion USD)

According to Gate market data, the current price of the WLD token is 1.21 dollars, with an increase of about 22.43% in the last 24 hours. Worldcoin is an open-source protocol or system designed to help everyone access the global economy; it is designed to be decentralized, meaning that its governance and decision-making will ultimately depend on its user community.

The recent rise in WLD token is primarily due to the accelerated progress in ecological applications and collaborations. Key catalysts include the official launch of the World Build 2 application, which further enhances the practical application scenarios and user engagement of the token; and the Universidad de Ingeniería y Tecnología del Perú (@utecpe) joining the AMPC partner network, promoting the implementation of quantum security technology research, thus enhancing the project's cutting-edge technological value and global cooperation landscape. These two developments have strengthened the market's confidence in WLD's long-term potential, becoming the main driving force behind the recent price increase.

Hotspot Interpretation

The total tokenized gold on Ethereum reached $2.4 billion, growing nearly 100% within the year

According to Token Terminal data, the tokenized gold assets on Ethereum have reached a scale of $2.4 billion, achieving nearly 100% growth year-to-date. Currently, the market is primarily dominated by PAXG and XAUT, indicating that traditional safe-haven assets are accelerating their migration to on-chain, with both the application scenarios and liquidity of on-chain gold continuously improving.

The rapid expansion of on-chain gold reflects the accelerating demand for "physical assets on-chain." On one hand, it meets investors' needs for allocating stable assets within the blockchain ecosystem; on the other hand, it indicates that Ethereum's capacity as an asset tokenization infrastructure is continually strengthening. It is worth noting that tokenized gold not only provides a new asset class for collateral and trading in DeFi but may also become an important entry point for traditional capital into the crypto ecosystem, beyond stablecoins.

Ethereum Layer 2 network Kinto announced it will shut down on September 30.

Ethereum Layer 2 project Kinto announced it will officially shut down on September 30. The platform suffered a contract vulnerability attack in July, where hackers forged 110,000 Kinto tokens and cashed out approximately 577 ETH, leading to a more than 95% drop in token price. Although the team subsequently launched the "Phoenix" restart plan, the operation ultimately became unsustainable due to new debts and financing difficulties. Founder Ramón Recuero stated that he would compensate some users with personal funds and promised to return 76% of the principal to Phoenix borrowers, while the remaining assets of the platform would also be used for compensation.

The shutdown of Kinto once again highlights the significant challenges that emerging Layer 2 projects face in terms of security and sustainability. A single smart contract vulnerability not only destroyed the project's reputation but also made subsequent financing and ecological reconstruction nearly impossible. Although the team has made efforts to salvage the situation through a restart plan, once market trust is lost, it is often difficult to regain. This incident serves as a reminder to the industry: beyond scalability narratives and liquidity incentives, security and risk control are the keys to long-term survival.

Solana Treasury Company DeFi Development launches ‘.dfdv’ domain service

The Nasdaq-listed Solana Treasury Company DeFi Development (stock code: DFDV) has officially launched the “.dfdv” domain name service. This service allows individuals, institutions, and blockchain projects to register personalized digital identities and use them as digital wallet addresses. DeFi Development stated that this move aims to build an identity layer for decentralized communities, while the net proceeds from domain name sales will be reinvested to support the operation and development of the company’s SOL treasury.

The launch of the ".dfdv" domain service marks an important step for the Solana ecosystem in terms of digital identity and community building. By binding the domain name to wallet addresses, users can not only achieve more intuitive asset management but also enhance their recognition and credibility in on-chain interactions. Furthermore, the revenue from domain sales directly flows back into the treasury, demonstrating the project's innovative approach to ecological sustainability and capital operations. This initiative is expected to further enhance the stickiness of the Solana community and provide a new entry point for on-chain asset management and DeFi applications.
Reference Material:

• 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/trade/GT_USDT
• CoinGecko, https://www.coingecko.com/en/cryptocurrency-heatmap
• Gate, https://www.gate.com/price
• 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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