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Gate Research Institute: Bitcoin mining costs continue to rise｜ Launchpool opens LIVE for new token offerings
Crypto Market Overview
Trending Tokens on Juejin
PYTH Pyth Network (+83.55%, Circulating Market Cap 1.194 billion USD)
According to Gate market data, the current price of the PYTH token is $0.21, which has increased by approximately 83.55% in the last 24 hours. Pyth Network is an oracle that publishes financial market data to multiple blockchains. PYTH is its governance token. Michael Cahill is the CEO of Pyth's development company, Douro Labs. Previously, he worked on special projects at Jump Crypto and is a key figure in Pyth Network.
The rise of PYTH is mainly driven by the positive news of the Ministry of Commerce's collaboration with Chainlink and Pyth Network. This collaboration will officially bring macroeconomic data directly on-chain for the first time, including key indicators such as GDP, Personal Consumption Expenditures (PCE) Price Index, and actual final sales. This means that DeFi platforms and blockchain applications can obtain verified government data in real-time to adjust lending rates, collateral requirements, or develop innovative financial products, such as assets linked to inflation. At the same time, multiple mainstream public chains will distribute this data, including Ethereum, Avalanche, Arbitrum, Optimism, etc., enhancing transparency and verifiability. This initiative is interpreted by the market as an important signal for the integration of traditional finance and decentralized finance, thereby driving the demand and price increase of PYTH.
W Wormhole (+36.74%, circulating market cap 488 million USD)
According to Gate's market data, the current price of the W token is $0.10, with a 36.74% increase in the last 24 hours. W is the native token of the Wormhole platform and belongs to the Solana SPL and Ethereum ERC20 tokens, which can be seamlessly transferred to any network connected to Wormhole through the Wormhole native token transfer feature.
The recent rise of W is mainly driven by the market sentiment and bidding narrative surrounding the StarGate acquisition event. Although LayerZero ultimately succeeded in acquiring StarGate for $110 million, Wormhole did not win the bid; however, the high bid proposed by them during the acquisition process was interpreted by the market as a signal of the team's financial strength and expansion ambition. At the same time, the bidding event has refocused investors' attention on the cross-chain ecosystem and Wormhole's potential role, increasing short-term trading activity.
TREE Treehouse (+21.02%, circulating market cap 58.42 million USD)
According to Gate market data, the current price of the TREE token is $0.37, having risen approximately 21.02% in the last 24 hours. Supported by top investors such as Wintermute, GSR, GFC, and Lightspeed, Treehouse has launched two core modules: (1) tAssets, which creates yield premiums for liquidity staking tokens (LSTs) by aggregating fragmented on-chain interest rates; (2) DOR, which is a decentralized consensus mechanism that creates a cryptocurrency system similar to LIBOR, using underlying interest rates to assess prediction accuracy and build a term structure for any cryptocurrency-denominated interest rate.
The price of TREE has risen mainly driven by improved market sentiment and favorable developments in the ecosystem. Previously, TREE experienced a significant price drop due to the July airdrop, which led to some investors selling off their holdings, creating short-term pressure. However, recent interest from investors has rebounded, pushing the price up. At the same time, Conflux Network announced a strategic partnership with AIOZ Network to integrate decentralized infrastructure services, including AI markets, media streaming, object storage, and IPFS fixed services, bringing practical scenarios and long-term value expectations to the TREE ecosystem. Overall, the combination of improved market sentiment and favorable ecosystem developments has driven the price increase of TREE.
Alpha Interpretation
Finastra partners with Circle to bring USDC into a global $50 trillion cross-border payment network.
London fintech company Finastra announced a partnership with Circle to integrate the USDC stablecoin into its core payment platform Global PAYplus (GPP), which processes over $5 trillion in cross-border payment flows daily. With this integration, banks will be able to choose to settle cross-border transfers in USDC, thereby reducing reliance on traditional correspondent bank networks. Correspondent networks are often criticized for their high costs and slow settlement times, while USDC can achieve faster and cheaper settlement through blockchain rails, significantly enhancing capital flow efficiency and the cross-border payment experience.
This move not only strengthens the application prospects of stablecoins in the traditional financial system but also demonstrates the strong interest of financial institutions in blockchain settlement models. As payment giants like PayPal and Stripe are laying out stablecoin infrastructure, Circle's USDC has become the second largest stablecoin by market capitalization, with a supply of 69 billion dollars. Finastra and Circle indicated that the parallel model of USDC settlement with fiat currency instructions will provide global banks and users with more flexible and transparent cross-border payment solutions. Industry insiders expect that this collaboration is likely to promote stablecoins further into the mainstream, accelerating the digital transformation and innovation of financial institutions.
The cost of Bitcoin mining continues to rise, and miners are seeking diversified development.
Bitcoin mining is facing unprecedented challenges. Executives from Cleanspark and Terawulf pointed out at the SALT conference that electricity costs have become a major drain on profits, with about half the cost of mining one Bitcoin coming from electricity bills, further compressing profit margins due to corporate expenses. With the rise of exchange-traded funds (ETFs) and growing demand for artificial intelligence infrastructure, miners must seek diversified development, such as monetizing electricity, to cope with market pressures beyond the halving cycle. The mining business model is shifting from solely relying on hash rates and rewards to a more flexible and strategic direction.
At the same time, the Bitcoin ecosystem is continuously innovating in technology and financial applications. Lombard Finance launched the LBTC liquid staking token, allowing staked Bitcoin to be used in multi-chain DeFi, achieving parallel yield and liquidity; Optimism collaborated with Flashbots to optimize the OP Stack, improving transaction ordering and speed on the second-layer network; Hemi Labs completed a $15 million financing round to advance the development of the Bitcoin programmable network and Hemi Virtual Machine (hVM), supporting lending and trading applications. This indicates that Bitcoin is not only under pressure in the mining sector but is also continuously transforming into a composable and productive asset ecosystem.
encryption company Luxxfolio plans to raise 73 million USD to establish a Litecoin reserve strategy.
Canadian crypto infrastructure company Luxxfolio is shifting from Bitcoin mining to a digital asset reserve strategy centered around Litecoin, while planning related infrastructure expansion. The company submitted a "shelf prospectus" on Thursday for up to CAD 100 million (approximately USD 73 million), allowing it to raise funds through the issuance of stock, debt, or other securities over the next 25 months. CEO and Director Tomek Antoniak stated that Litecoin is "hard currency," and the company aims to increase its market share and drive adoption by expanding reserves, infrastructure, and ecosystem layout. Luxxfolio had previously disclosed its Litecoin purchases in July, planning to hold a total of 1 million Litecoins by 2026, and in June welcomed Litecoin founder Charlie Lee to its advisory board. This strategy reflects the trend of crypto companies attracting institutional investors through reserves and infrastructure.
However, Luxxfolio is facing severe financial pressure. The company did not generate revenue in the second quarter, with a net loss of approximately $197,000, compared to $8,000 in the same period last year, and cash at the end of the period was only $112,000. Since its establishment in 2017, the cumulative loss has approached $19 million, and recently it has relied on $844,000 from private placements to maintain operations. Management has warned that without new funding, there are "significant doubts" about the company's ability to continue operations. Analysts point out that while institutions may be interested in reserves of crypto assets, Luxxfolio's liquidity is tight and losses are accumulating. If Litecoin is merely hoarded and not effectively utilized, the risks remain considerable.
Gate Launchpool
New Investment Details
Project Introduction
SecondLive has created the first AI-driven, self-evolving digital universe that integrates AI intelligent agents, AIGC tools, and blockchain technology, empowering users, brands, and developers to create immersive spaces and virtual avatars. The platform relies on tools like Gobetti and Calzone, as well as a dual-token economic system, attracting 4.7 million users and receiving strong support from multiple top-tier investment institutions. SecondLive connects the creativity of Web2 with the intelligence of Web3, continually expanding application scenarios into areas such as entertainment, education, and simulation.
Reference:
[Gate Research Institute](https://www.gate.com/learn/category/research) is a comprehensive blockchain and crypto market research platform that provides readers with in-depth content, including technical analysis, hot insights, market reviews, industry research, trend forecasts, and macroeconomic policy analysis.
Disclaimer Investing in the crypto market involves high risks. Users are advised to conduct independent research and fully understand the nature of the assets and products they are purchasing before making any investment decisions. Gate is not responsible for any losses or damages resulting from such investment decisions.