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Glassnode: Gate ranks among the top three globally in BTC spot trading volume, achieving first place in both two-year ranking and share growth

According to Glassnode's latest report "The Week On-chain - Escape Velocity," among the major exchanges tracked by Glassnode, Gate has risen 4 positions in the BTC spot trading volume rankings over the past two years, achieving the largest increase on the list and ranking third globally. During the same period, Gate's market share of BTC spot trading volume within the statistical scope surged from 2% to 9.1%, a net increase of 7.1 percentage points, the highest growth among all exchanges.The report indicates that Gate's rise is characterized by long-term effectiveness and sustainability. Over the past 24 months, Gate has remained in the top three for BTC spot trading volume for 9 months, demonstrating a continuously strengthening market competitiveness. As an exchange leading in both ranking improvement and market share growth among major platforms, Gate's trading activity and market participation in the BTC spot market continue to expand.Glassnode also pointed out that the 24-hour spot trading volume across all exchanges has rebounded by 121% from the low in August, and the returning funds are flowing to multiple trading platforms. Against the backdrop of an overall recovery in market activity, Gate's simultaneous improvement in market share and global ranking is particularly remarkable, fully showcasing its sustained growth momentum and increasingly expanding industry influence in the BTC spot market.

first_img Glassnode: Bitcoin increased by 28% over two years, while the median market value of altcoins dropped by 74%

According to a report by Decrypt, a report jointly released by the crypto analytics company Glassnode and the exchange Bybit shows that Bitcoin has increased by 28% over the past two years, while the median market cap altcoins have averaged a decline of 74%, and Ethereum has remained basically flat. The report views this divergence as a hallmark of the current market cycle, contrasting sharply with the previous "altcoin season" model where capital rotated from Bitcoin to smaller coins as the market matured.The distribution of leverage also shows a trend of centralization. The report points out that the open interest in Bitcoin futures accounts for about 2% of its market cap, while this ratio for speculative small coins like PEPE is close to 24%, indicating that risk bubbles are accumulating in the most dangerous corners of the market. The data is as of the settlement close on August 23, and since Glassnode covers a limited number of trading platforms, the relevant figures only reflect the venues it tracks.Institutional fund flows are also clearly leaning towards Bitcoin. The cumulative net inflow into spot Bitcoin ETFs is about $55.2 billion, far exceeding the approximately $13.1 billion for Ethereum ETFs, which have recently experienced several days of net outflows. Earlier this week, after the Federal Reserve released a dovish forecast, Bitcoin climbed back above $80,000, driving the total crypto market cap to rise by 4.6% in a single day to about $2.85 trillion, with coins like Solana, NEAR, and Uniswap seeing even larger gains that day.

first_img Glassnode: Bitcoin rose 23% on the 21st, with resistance between $83,000 and $86,000

On-chain analysis platform Glassnode released a report stating that Bitcoin has risen 23% over the past 21 trading days, while the S&P 500 and Nasdaq 100 remained flat during the same period, but are still down 10% year-to-date. The cost basis of long-term holders, the futures liquidation map, and the breakeven point for the U.S. spot ETF all indicate upper resistance between $83,000 and $86,000, with the highest spot price approximately 1.5% below the bottom of that range, followed by a narrow consolidation below $80,000.Approximately 1.07 million Bitcoins were purchased by long-term holders in the $83,000 to $86,000 range, with the heaviest positions close to $85,000, and this block has remained nearly unchanged for the past 30 days. The selling pressure at the high point of the range is calculated at 7 basis points per day based on the selling risk ratio, which is less than half of August's peak of 16 basis points, and the profit realization ratio for long-term holders has dropped from 88% in August to 47%. The breakeven point for the U.S. spot ETF since its launch has been around $86,000, with the paper loss narrowing to approximately $3.9 billion.U.S. core inflation has fallen to a two-year low of 2.5%, with inflation expectations at 3.6%, marking the widest gap in three years; the 10-year U.S. Treasury yield closed at 4.8%, near a two-year high. The derivatives liquidation heatmap shows that the short liquidation shelf between $82,000 and $86,000 has increased by 21% since the squeeze on August 19.

Glassnode: Bitcoin will still be in a range-bound fluctuation, with resistance at $83,000 to $86,000

Glassnode released a report stating that a short squeeze in mid-August drove Bitcoin's rebound, breaking above $80,000 on August 27. However, the price subsequently encountered resistance in the long-term supply zone above and fell back to around $76,000, triggering a series of long liquidations. Currently, there is still a large amount of potential short liquidation positions clustered between $83,000 and $86,000, while the area between $60,000 and $63,000 contains an undigested long liquidation zone, with BTC positioned between the two.On-chain data shows that when Bitcoin traded around $78,000 in May this year, about 65% of the supply was in profit; by the end of August, when it returned to the same price level, that ratio had risen to 68%. The summer redistribution of chips pushed the cost basis of short-term holders to about $71,000, and the same price now would activate more profit-taking chips, increasing potential selling pressure. Considering the overall cost basis and chip distribution, the accumulation support zone is between $62,000 and $65,000, while the concentrated supply zone for long-term holders is between $83,000 and $86,000.The average net inflow of the U.S. Bitcoin spot ETF during the rebound peaked at $290 million per day over seven days, but the daily trading volume in the secondary market remained around $3 billion, significantly lower than during the previous expansion phase. Meanwhile, the yield on U.S. 10-year Treasury bonds briefly fell to 4.6% after the Treasury's repurchase announcement on August 19, but returned to 4.8% in just eight trading days, reaching a new high for this cycle, indicating that sovereign debt pressure is still affecting market valuations. In the options market, short-term optimism has cooled, while long-term options demand remains. The open interest for Deribit and IBIT options expiring on September 25 is about $14 billion, with a large number of positions concentrated above $80,000, which may become important volatility and position anchor points in the coming weeks. Before the supply above $83,000 to $86,000 is digested, BTC will continue to maintain range-bound fluctuations, with $62,000 to $65,000 being the main downward reference area.

LeapNode receives investment from DraperDragon, laying out the Web3×AI infrastructure track

Recently, the AI computing power Token aggregation trading platform leapnode.net announced that it has received investment from the well-known cryptocurrency investment institution DraperDragon. This investment marks a strategic consensus between the two parties in the integration of AI and Web3, aiming to consolidate ecological resources, seize the wave of AI Agent development, and explore the new generation of AI-Web3 infrastructure market, fully reflecting the capital market's recognition of the opportunities and potential of this sector.LeapNode believes that the computing power Token aggregation trading platform for AI is equivalent to trading platforms for Web3. The platform first connects to over 200 cutting-edge AI models through a single API Key, with pricing at 10-30% of the official rates, service availability at 99.9%, and new models quickly launched within 48 hours. To lower the usage threshold, LeapNode has launched ready-to-use Web3 smart assistants and the Mystery Calculation Master, which have received numerous positive reviews, and introduced computing power boxes to allow users to participate in sharing platform profits. The project's vision is to connect models with user Agents and extend the A2A economy, providing support for autonomous payment settlement for AI agents and creating a core settlement layer for the AI Agent ecosystem.
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