Crypto Market Overview

• BTC (-0.02% | Current Price 115,900 USDT): Last week, BTC reached a local high of $124,497 but failed to break through the upper resistance, then quickly retraced with increased trading volume, indicating weakening bullish momentum. Recently, BTC has repeatedly found support around $115,800, which has become a key short-term defense level. Currently, the price is approaching this area, and if this support fails, BTC could further drop to $114,000 or even test the lower support at $113,500. On the short-term rebound side, the resistance zone is between $118,500 – $119,000; if BTC can reclaim and stabilize above this range, it may attempt to challenge $121,000 again. Otherwise, the market is likely to remain in a weak, oscillating pattern. On August 18, BTC ETFs recorded a net outflow of $121 million, including $68.7 million from BlackRock IBIT and $65.7 million from ARKB.
• ETH (-0.73% | Current Price 4,358 USDT): ETH previously spiked to a local high of $4,770 but failed to break through the upper resistance, then saw a clear pullback. Overall, the chart shows heavy selling pressure above and weakening short-term bullish strength. ETH has repeatedly found support near $4,270, which has become an important defense level. If the price continues to decline and breaks this support, it may further drop to the $4,150 – $4,170 range. On the rebound side, short-term resistance is at $4,450 – $4,500; if ETH can recover and hold above this zone, it may have a chance to challenge $4,650 again. Otherwise, the market may remain in a weak, oscillating pattern. Overall, ETH is currently in a downward consolidation channel, and the $4,270 support should be closely monitored. On August 18, ETH ETFs recorded a net outflow of $196 million, including $87.2 million from BlackRock ETHA and $78.4 million from Fidelity FETH.
• Altcoins: Most major altcoins retreated, with market sentiment remaining “neutral.” The Fear & Greed Index today is 57, in the neutral range, indicating that market sentiment has cooled relative to last week’s overheated levels.
• Macro: On August 18, the S&P 500 fell 0.65% to 6,449.15; the Dow Jones fell 0.08% to 44,911.82; and the Nasdaq rose 0.03% to 21,629.77. As of 10:45 AM (UTC+8) on August 19, spot gold was priced at $3,335 per ounce, up 0.08% over the past 24 hours.

Trending Tokens

WKC – Wiki Cat (+56.57%, Circulating Market Cap: $86.66M)

According to Gate data, WKC is currently priced at $0.0000001683, up approximately 56.57% in the past 24 hours. Wiki Cat (WKC) is a unique deflationary commemorative token originally designed by Sir. Mapy for the SMC community to teach users how to create commemorative tokens. It features 1% slippage, 100% ownership renounced, and liquidity permanently locked.

WKC’s recent surge was driven by steady community growth and active trading. Since March, the number of holders has increased by over 20,000, reaching 81,094 as of August 14. Daily buy and sell transactions rose over 5,510 and 10,270 respectively, with trading volume surpassing $1.75 million. Additionally, the built-in deflationary mechanism burned over 275.6 billion WKC yesterday, sharply reducing supply and boosting token scarcity. The combination of user expansion, increased trading activity, and deflationary effects fueled WKC’s strong price rally.

BSU – Baby Shark Universe (+39.06%, Circulating Market Cap: $29.93M)

According to Gate data, BSU is currently priced at $0.18, up approximately 39.06% in the past 24 hours. Baby Shark Universe (BSU) is a hybrid entertainment platform leveraging the globally recognized “Baby Shark” IP, connecting Web2 and Web3. The platform focuses on building a family-friendly ecosystem with gaming, NFTs, and metaverse experiences.

BSU’s price surge was supported by strong NFT sales and growing community engagement. Recent collaborations with top NFT collections, including Pudgy Penguins and Lil Pudgys, sold out immediately. As a newly listed low-market-cap token, BSU benefits from high liquidity and volatility. Channel information also suggests potential listings on major exchanges, keeping market expectations high. The combination of IP empowerment, ecosystem expansion, and trading anticipation drove BSU’s strong upward momentum.

WAVES – Waves (+23.43%, Circulating Market Cap: $140M)

According to Gate data, WAVES is currently priced at $1.47, up approximately 23.43% in the past 24 hours. Waves is a customizable blockchain token platform designed for enterprise and consumer applications. It provides an enterprise-ready platform emphasizing security, token usability, and simple user experience, while addressing key issues such as scalability and transaction speed.

WAVES’ recent surge was fueled by the announcement of the “Waves Summer 2025 — Turning the Tide” plan on the official X platform. Over the next 90 days, Waves aims for a comprehensive upgrade focusing on AI-native integration, Layer 2 adoption, and enterprise-grade application deployment. Positive market sentiment and heightened expectations for ecosystem upgrades collectively drove WAVES’ strong price rally.

Alpha Insights

BitMine ETH Holdings Exceed $6.6B, Stock Falls 7% on ETH Pullback

BitMine Immersion Technologies (BMNR) recently filed documents with the U.S. SEC, showing the company’s ETH holdings have surpassed 1.5 million, valued at approximately $6.6 billion. This makes BMNR the second-largest publicly traded cryptocurrency holder, trailing only Bitcoin giant Strategy (MSTR). Led by Fundstrat’s Tom Lee, the company increased its ETH reserves from 1.15 million to 1.5 million last week, signaling strong long-term confidence in Ethereum.

Despite the increased holdings, BMNR’s stock dropped 7% on Monday to $54 per share amid ETH’s price pullback. ETH fell below $4,300 in the past 24 hours, a sharp decline from last week’s high of $4,800. Other digital asset financial firms also saw declines: Ethereum-focused SharpLink (SBET) fell 3%, while Solana-focused Upexi (UPXI) and DeFi Development (DFDV) dropped 6% and 9%, respectively.

Bless Launches $TIME Airdrop Guide, Mainnet to Distribute 10% of Total Supply

Cloud computing project Bless Network announced the $TIME airdrop plan to reward early contributors and promote decentralized internet development. Upon mainnet launch, 10% of the total supply will be distributed, with anti-bot and anti-fake-account measures in place.

The airdrop’s Chapter 0 phase will distribute 100 million TIME, accounting for 8.5% of BLESS’s total supply. Registration runs from August 13 to 21, ending at 2:00 AM Beijing Time on August 22. Users can choose to redeem BLESS immediately or stake for 3 to 18 months, with longer staking periods offering higher reward multipliers. Accounts that do not select a redemption option will default to an 18-month stake.

Stellar Development Foundation Invests in Archax to Promote Real-World Asset Tokenization

The Stellar Development Foundation (SDF) announced an investment in UK-based digital asset platform Archax to leverage the Stellar blockchain for real-world asset (RWA) tokenization. This is part of a broader collaboration, with Archax integrating Stellar into its tokenization tools and launching tokenized Aberdeen Money Market Fund products.

The tokenization market is rapidly expanding and is projected to become a trillion-dollar industry by 2030. SDF Chief Commercial Officer Raja Chakravorti stated that the Stellar network enables fast settlement, low-cost operations, and accelerates real-world asset tokenization. This move coincides with a broader push for tokenizing traditional financial instruments, with Archax having acquired a BaFin-regulated German digital asset company last month to expand its European market presence.

Gate Launchpool

New Token Sale Details

• Subscription Project: TCOM Global
• Token Name: TCOM
• Subscription Period: Until August 23, 2025, 12:00 (UTC)
• Participation Method: Stake USDT or TCOM to receive tokens for free
• Total Airdrop Supply: 900,000 TCOM

Project Introduction

TCOM is the world’s first decentralized IP governance protocol. Starting with 65 classic IPs from Japan’s “God of Manga,” Osamu Tezuka, TCOM aims to redefine IP creation, licensing, and value distribution in the digital era.


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
• Blockzeit, https://blockzeit.com/wiki-cat-price-jumps-286-in-a-week-as-bnb-chain-soars-to-243b-new-ath/
• Coindesk, https://www.coindesk.com/business/2025/08/18/bitmine-s-ether-holdings-top-usd6-6b-stock-slides-7-alongside-eth-s-tumble
• Panews, https://www.panewslab.com/zh/articles/cba94ad5-4325-469e-b034-f0e78bff18e5
• Gate, https://www.gate.com/launchpool/PUBLIC?pid=357

Gate Research is a comprehensive blockchain and cryptocurrency research platform that provides deep content for readers, including technical analysis, market insights, industry research, trend forecasting, and macroeconomic policy analysis.

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.