After a significant correction at the end of August, BTC rebounded from a low of $107,261 and rose to a peak of $111,398. The current price is consolidating around $111,000.
In terms of moving averages, the MA5 and MA10 have climbed back above the MA30, forming a golden cross in the short term, indicating a recovery in rebound momentum. The trading volume significantly increased during the rebound on September 2, but has since gradually declined, suggesting that the market's willingness to chase higher above $111,000 is limited.
At key levels, $107,000–$107,500 remains a temporary support. If it breaks below this range, it may test the previous low again. The upper resistance is concentrated in the $112,000–$113,000 range. If it can break through with volume, it is expected to challenge the previous high of $113,469 again.
In addition, on September 2, the BTC ETF saw a net inflow of approximately $333 million in a single day, with Fidelity's FBTC inflow of $132.7 million, BlackRock's IBIT inflow of $72.86 million, and ARK 21Shares Bitcoin ETF (ARKB) inflow of $71.9 million.
ETH (-0.50% | Current price 4,289 USDT)
The price of ETH gradually came under pressure after reaching a peak of $4,956, dipping to a low of $4,063. Recently, it has been oscillating in the range of $4,280–$4,300, with the short-term moving averages (MA5, MA10) having crossed below MA30, indicating that bearish pressure still exists.
The trading volume has increased as the price declines, indicating that there is still some buying support below, but the rebound strength is limited. If ETH can hold the support at $4,280–$4,300, it is expected to challenge the resistance zone of $4,360–$4,400 again; conversely, if it breaks below the $4,280 level, it may test the previous low of $4,063 again.
Short-term focus should be on the $4,280 support and the $4,360–$4,400 resistance, overall still in a weak oscillating pattern.
In addition, on September 2, the ETH ETF experienced a net outflow of approximately $135.3 million in a single day, with BlackRock's ETHA seeing an outflow of $99.2 million and Fidelity's FETH seeing an outflow of $24.2 million.
GT (+0.03% | Current Price 16.84 USDT)
The GT price came under pressure after reaching a high of $19.37, falling to a low of $16.31, and has recently been oscillating narrowly around the $16.5–17 range. The short-term moving averages (MA5, MA10, MA30) have begun to converge, indicating that the market is in a wait-and-see mode, with a direction choice approaching.
The overall trading volume is low, only increasing during localized declines or rapid surges, indicating limited willingness for capital entry at present. If GT can effectively stabilize above 16.80–17 USD, it is expected to challenge the 17.20–17.50 USD resistance range again; conversely, if it falls below 16.50 USD, it may retest the previous low support at 16.30 USD.
Short-term focus should be on the $16.50 support and $17.20–17.50 resistance. The oscillating consolidation pattern is obvious, and the breakout direction will determine the subsequent market trend.
Daily Price Fluctuation Tokens
Bitcoin (BTC) is reported at 110135.6 USDT, with a 24-hour increase of 0.82%, fluctuating in the range of 107471.9–110700 USDT, with short-term volatility risk remaining; Ethereum (ETH) is reported at 4387.55 USDT, up 1.69%, with the number of active addresses on the chain reaching a new high since 2021, significantly increasing user participation.
Despite the overall market maintaining a volatile pattern, some small-cap tokens continue to strengthen against the trend, showing a localized concentration of funds. SQUID increased by 102.54%, with strong speculative sentiment; GMMT also rose by 67.16%, indicating a strong interest in emerging themes; MERL increased by approximately 33.30%, driven by positive developments in ecology and cross-chain initiatives attracting market attention. Overall, while the market's risk appetite has not fully recovered, structural opportunities coexist with high volatility.
SQUID Squid Game (+102.54%, Market Cap 6.8 Million USD)
According to Gate market data, the current price of the SQUID token is 0.009001 USDT, with a 102.54% increase in the last 24 hours. SQUID initially gained attention in the community due to its "Squid Game" narrative, but has faced ongoing controversies for a long time. Squid Game is a Meme token on the Binance Smart Chain (BSC), inspired by the popular Netflix series of the same name. The token promised to develop a "play-to-earn" game at launch, claiming to reference the gameplay of the TV series "House of Cards."
This round of price increase is mainly driven by short-term speculative funds, coupled with the heat from social media and the atmosphere of community hype, which has boosted market buying sentiment. However, due to the lack of fundamental support for SQUID, volatility is extremely high, and its sustainability remains uncertain.
GMMT Giant Mammoth (+67.16%, circulating market value 24.7 million USD)
According to Gate's market data, the current price of the GMMT token is 0.009025 USDT, with a 67.16% increase in the last 24 hours. GMMT is a community-driven decentralized project focusing on Web3 applications and ecological cooperation, dedicated to providing users with diversified encryption scenarios.
Recently, the promotion of GMMT in the Southeast Asian market and the landing of new collaborations have significantly boosted trading activity, with transaction volume exceeding 17.84 million. The market sentiment, combined with the influx of regional capital, has become an important driving force behind the rise in GMMT prices.
MERL Merlin Chain (+30.81%, circulating market cap of 125 million USD)
According to Gate market data, the current price of the MERL token is 0.1588 USDT, having increased by 30.81% in the last 24 hours. Merlin Chain is a Bitcoin layer two network designed to bring more efficient scalability and application support to the BTC ecosystem, providing diversified infrastructure including DeFi, NFT, and payment.
Recently, MERL has gained market attention due to the launch of its ecological incentive program and the introduction of several leading DApps. At the same time, it completed the M-BTC integration with the Sui network, enhancing Bitcoin's cross-chain liquidity. Coupled with chain abstraction and AI-driven trading optimization brought by the mainnet upgrade, as well as the upcoming BTC staking reward program, the ecological activity and user participation have further increased. Against the backdrop of rising narratives in the BTC ecosystem, the potential value of Merlin Chain has been rapidly amplified, driving the price of the MERL token higher.
Daily New Listing
New Investment Details
Subscription Project: Moonchain
Token Name: MCH
Subscription Time: Until September 13, 2025, 20:00 (UTC+8)
Participation method: Stake ETH, MCH to receive it for free.
Total airdrop amount: 1,200,000 MCH
Project Introduction
Moonchain (MCH) is an AI value layer aimed at data and zero-knowledge proof applications, supported by unique initial hardware issuance (IHO). With global device deployment, Moonchain can transform real-world data into on-chain trusted, monetizable AI insights.
The project is invested by CITIC Group, UOB, and JDI Ventures, aiming to build hardware-driven AI + Web3 infrastructure to expand the data monetization ecosystem globally. MCH's positioning is the core backbone of AI + Web3, providing users and developers with trusted data, intelligent analysis, and on-chain value conversion opportunities.
Hot Spot Interpretation
WLFI buyback and burn
On-chain data shows that WLFI has burned 47 million WLFI (approximately 11.34 million USD) from the unlocked treasury wallet in the past 6 hours in response to the community governance proposal for buyback and destruction arrangements. Previously, WLFI also repurchased 6.498 million WLFI using 2 million USD1 at an average price of 0.308 USD through on-chain operations within two days after its trading launch, further reducing the total circulating supply of tokens.
The repurchase and destruction measures of WLFI indicate that the project team is actively managing the token supply, which may boost market confidence in the short term, while bringing favorable expectations of reduced circulation to token holders.
Linea Launches Liquidity Incentive Program
Linea officially announced the launch of the Linea Ignition liquidity incentive program, with a total amount of 1 billion LINEA, aiming to attract an additional 1 billion USD in TVL. The program will last until October 26, 2025. The first eligible partner agreements include Etherex, Aave, and Euler, with Turtle Club to be added later. The incentive distribution rules are as follows: 40% will be unlocked in a lump sum on October 27, and the remaining 60% will be released linearly over 45 days.
In addition, the Linea Association has approved the allocation of 4% of LINEA to liquidity providers participating in Linea Surge. The specific procedures for exchanging SBT for LINEA will be announced through the eligibility check page.
This plan helps to increase the TVL and liquidity activity of the Linea protocol, which is a significant benefit for early participants in the ecosystem, and it may also drive short-term market attention and trading activity for the tokens.
Ethereum Foundation sells ETH again
On-chain monitoring shows that the Ethereum Foundation has transferred 10,000 ETH (approximately $42.7 million) to exchanges, planning to sell them in the coming weeks to support research and donation activities. Notably, the last sale by the foundation was also 10,000 ETH, completed via OTC to SharpLink at a transaction price of about $2,572 per coin, totaling $25.73 million. This transfer occurred just 10 minutes before the official announcement was made.
The sale actions of the Ethereum Foundation may temporarily increase supply pressure in the market, posing a certain risk of volatility to the ETH price. However, considering that the funds from the sale are mainly used for ecological development and research, such operations are strategic capital adjustments and have a limited impact on long-term market confidence.
**Reference Material:**
- Gate, [https://www.gate.com/trade/BTC_USDT](https://www.gate.com/trade/BTC_USDT)
- Farside Investors, [https://farside.co.uk/btc/](https://farside.co.uk/btc/)
- Gate, [https://www.gate.com/trade/ETH_USDT](https://www.gate.com/trade/ETH_USDT)
- Farside Investors, [https://farside.co.uk/eth/](https://farside.co.uk/eth/)
- Gate, [https://www.gate.com/trade/GT_USDT](https://www.gate.com/trade/GT_USDT)
- Coingecko, [https://www.coingecko.com/en/encryption-heatmap](https://www.coingecko.com/en/encryption-heatmap)
- Gate, [https://www.gate.com/launchpool/MCH?pid=372](https://www.gate.com/launchpool/MCH?pid=372)
- X, [https://x.com/EmberCN/status/1963032806357139556](https://x.com/EmberCN/status/1963032806357139556)
- Arkham, [https://intel.arkm.com/explorer/tx/0x24ffbb29f4ac8bc8a88887396f83f6f91154f11912e8e095f3ceb6c462456309](https://intel.arkm.com/explorer/tx/0x24ffbb29f4ac8bc8a88887396f83f6f91154f11912e8e095f3ceb6c462456309)
- Linea, [https://linea.build/hub/events/linea-ignition](https://linea.build/hub/events/linea-ignition)
- X, [https://x.com/LineaAssoc/status/1962992974733967570](https://x.com/LineaAssoc/status/1962992974733967570)
- Arkham, [https://intel.arkm.com/explorer/tx/0x7baebf33f47c96da9fd7617c4f6d09487a47f1881bdee161e62a56ad4943d61e](https://intel.arkm.com/explorer/tx/0x7baebf33f47c96da9fd7617c4f6d09487a47f1881bdee161e62a56ad4943d61e)
[Gate Institute](https://www.gate.com/learn/category/research) is a comprehensive blockchain and encryption 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
Investment in the cryptocurrency market involves high risks. Users are advised to conduct independent research and fully understand the nature of the assets and products being purchased before making any investment decisions. Gate shall not be liable for any losses or damages arising from such investment decisions.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Gate Research Institute: Linea Launches Liquidity Incentive Program | BTC Rebounds to 111,398 USD
Encryption Asset Panorama
BTC (-0.21% | Current Price 111,095 USDT)
After a significant correction at the end of August, BTC rebounded from a low of $107,261 and rose to a peak of $111,398. The current price is consolidating around $111,000.
In terms of moving averages, the MA5 and MA10 have climbed back above the MA30, forming a golden cross in the short term, indicating a recovery in rebound momentum. The trading volume significantly increased during the rebound on September 2, but has since gradually declined, suggesting that the market's willingness to chase higher above $111,000 is limited.
At key levels, $107,000–$107,500 remains a temporary support. If it breaks below this range, it may test the previous low again. The upper resistance is concentrated in the $112,000–$113,000 range. If it can break through with volume, it is expected to challenge the previous high of $113,469 again.
In addition, on September 2, the BTC ETF saw a net inflow of approximately $333 million in a single day, with Fidelity's FBTC inflow of $132.7 million, BlackRock's IBIT inflow of $72.86 million, and ARK 21Shares Bitcoin ETF (ARKB) inflow of $71.9 million.
ETH (-0.50% | Current price 4,289 USDT)
The price of ETH gradually came under pressure after reaching a peak of $4,956, dipping to a low of $4,063. Recently, it has been oscillating in the range of $4,280–$4,300, with the short-term moving averages (MA5, MA10) having crossed below MA30, indicating that bearish pressure still exists.
The trading volume has increased as the price declines, indicating that there is still some buying support below, but the rebound strength is limited. If ETH can hold the support at $4,280–$4,300, it is expected to challenge the resistance zone of $4,360–$4,400 again; conversely, if it breaks below the $4,280 level, it may test the previous low of $4,063 again.
Short-term focus should be on the $4,280 support and the $4,360–$4,400 resistance, overall still in a weak oscillating pattern.
In addition, on September 2, the ETH ETF experienced a net outflow of approximately $135.3 million in a single day, with BlackRock's ETHA seeing an outflow of $99.2 million and Fidelity's FETH seeing an outflow of $24.2 million.
GT (+0.03% | Current Price 16.84 USDT)
The GT price came under pressure after reaching a high of $19.37, falling to a low of $16.31, and has recently been oscillating narrowly around the $16.5–17 range. The short-term moving averages (MA5, MA10, MA30) have begun to converge, indicating that the market is in a wait-and-see mode, with a direction choice approaching.
The overall trading volume is low, only increasing during localized declines or rapid surges, indicating limited willingness for capital entry at present. If GT can effectively stabilize above 16.80–17 USD, it is expected to challenge the 17.20–17.50 USD resistance range again; conversely, if it falls below 16.50 USD, it may retest the previous low support at 16.30 USD.
Short-term focus should be on the $16.50 support and $17.20–17.50 resistance. The oscillating consolidation pattern is obvious, and the breakout direction will determine the subsequent market trend.
Daily Price Fluctuation Tokens
Bitcoin (BTC) is reported at 110135.6 USDT, with a 24-hour increase of 0.82%, fluctuating in the range of 107471.9–110700 USDT, with short-term volatility risk remaining; Ethereum (ETH) is reported at 4387.55 USDT, up 1.69%, with the number of active addresses on the chain reaching a new high since 2021, significantly increasing user participation.
Despite the overall market maintaining a volatile pattern, some small-cap tokens continue to strengthen against the trend, showing a localized concentration of funds. SQUID increased by 102.54%, with strong speculative sentiment; GMMT also rose by 67.16%, indicating a strong interest in emerging themes; MERL increased by approximately 33.30%, driven by positive developments in ecology and cross-chain initiatives attracting market attention. Overall, while the market's risk appetite has not fully recovered, structural opportunities coexist with high volatility.
SQUID Squid Game (+102.54%, Market Cap 6.8 Million USD)
According to Gate market data, the current price of the SQUID token is 0.009001 USDT, with a 102.54% increase in the last 24 hours. SQUID initially gained attention in the community due to its "Squid Game" narrative, but has faced ongoing controversies for a long time. Squid Game is a Meme token on the Binance Smart Chain (BSC), inspired by the popular Netflix series of the same name. The token promised to develop a "play-to-earn" game at launch, claiming to reference the gameplay of the TV series "House of Cards."
This round of price increase is mainly driven by short-term speculative funds, coupled with the heat from social media and the atmosphere of community hype, which has boosted market buying sentiment. However, due to the lack of fundamental support for SQUID, volatility is extremely high, and its sustainability remains uncertain.
GMMT Giant Mammoth (+67.16%, circulating market value 24.7 million USD)
According to Gate's market data, the current price of the GMMT token is 0.009025 USDT, with a 67.16% increase in the last 24 hours. GMMT is a community-driven decentralized project focusing on Web3 applications and ecological cooperation, dedicated to providing users with diversified encryption scenarios.
Recently, the promotion of GMMT in the Southeast Asian market and the landing of new collaborations have significantly boosted trading activity, with transaction volume exceeding 17.84 million. The market sentiment, combined with the influx of regional capital, has become an important driving force behind the rise in GMMT prices.
MERL Merlin Chain (+30.81%, circulating market cap of 125 million USD)
According to Gate market data, the current price of the MERL token is 0.1588 USDT, having increased by 30.81% in the last 24 hours. Merlin Chain is a Bitcoin layer two network designed to bring more efficient scalability and application support to the BTC ecosystem, providing diversified infrastructure including DeFi, NFT, and payment.
Recently, MERL has gained market attention due to the launch of its ecological incentive program and the introduction of several leading DApps. At the same time, it completed the M-BTC integration with the Sui network, enhancing Bitcoin's cross-chain liquidity. Coupled with chain abstraction and AI-driven trading optimization brought by the mainnet upgrade, as well as the upcoming BTC staking reward program, the ecological activity and user participation have further increased. Against the backdrop of rising narratives in the BTC ecosystem, the potential value of Merlin Chain has been rapidly amplified, driving the price of the MERL token higher.
Daily New Listing
New Investment Details
Project Introduction
Moonchain (MCH) is an AI value layer aimed at data and zero-knowledge proof applications, supported by unique initial hardware issuance (IHO). With global device deployment, Moonchain can transform real-world data into on-chain trusted, monetizable AI insights.
The project is invested by CITIC Group, UOB, and JDI Ventures, aiming to build hardware-driven AI + Web3 infrastructure to expand the data monetization ecosystem globally. MCH's positioning is the core backbone of AI + Web3, providing users and developers with trusted data, intelligent analysis, and on-chain value conversion opportunities.
Hot Spot Interpretation
WLFI buyback and burn
On-chain data shows that WLFI has burned 47 million WLFI (approximately 11.34 million USD) from the unlocked treasury wallet in the past 6 hours in response to the community governance proposal for buyback and destruction arrangements. Previously, WLFI also repurchased 6.498 million WLFI using 2 million USD1 at an average price of 0.308 USD through on-chain operations within two days after its trading launch, further reducing the total circulating supply of tokens.
The repurchase and destruction measures of WLFI indicate that the project team is actively managing the token supply, which may boost market confidence in the short term, while bringing favorable expectations of reduced circulation to token holders.
Linea Launches Liquidity Incentive Program
Linea officially announced the launch of the Linea Ignition liquidity incentive program, with a total amount of 1 billion LINEA, aiming to attract an additional 1 billion USD in TVL. The program will last until October 26, 2025. The first eligible partner agreements include Etherex, Aave, and Euler, with Turtle Club to be added later. The incentive distribution rules are as follows: 40% will be unlocked in a lump sum on October 27, and the remaining 60% will be released linearly over 45 days.
In addition, the Linea Association has approved the allocation of 4% of LINEA to liquidity providers participating in Linea Surge. The specific procedures for exchanging SBT for LINEA will be announced through the eligibility check page.
This plan helps to increase the TVL and liquidity activity of the Linea protocol, which is a significant benefit for early participants in the ecosystem, and it may also drive short-term market attention and trading activity for the tokens.
Ethereum Foundation sells ETH again
On-chain monitoring shows that the Ethereum Foundation has transferred 10,000 ETH (approximately $42.7 million) to exchanges, planning to sell them in the coming weeks to support research and donation activities. Notably, the last sale by the foundation was also 10,000 ETH, completed via OTC to SharpLink at a transaction price of about $2,572 per coin, totaling $25.73 million. This transfer occurred just 10 minutes before the official announcement was made.
The sale actions of the Ethereum Foundation may temporarily increase supply pressure in the market, posing a certain risk of volatility to the ETH price. However, considering that the funds from the sale are mainly used for ecological development and research, such operations are strategic capital adjustments and have a limited impact on long-term market confidence.
**Reference Material:** - Gate, [https://www.gate.com/trade/BTC_USDT](https://www.gate.com/trade/BTC_USDT) - Farside Investors, [https://farside.co.uk/btc/](https://farside.co.uk/btc/) - Gate, [https://www.gate.com/trade/ETH_USDT](https://www.gate.com/trade/ETH_USDT) - Farside Investors, [https://farside.co.uk/eth/](https://farside.co.uk/eth/) - Gate, [https://www.gate.com/trade/GT_USDT](https://www.gate.com/trade/GT_USDT) - Coingecko, [https://www.coingecko.com/en/encryption-heatmap](https://www.coingecko.com/en/encryption-heatmap) - Gate, [https://www.gate.com/launchpool/MCH?pid=372](https://www.gate.com/launchpool/MCH?pid=372) - X, [https://x.com/EmberCN/status/1963032806357139556](https://x.com/EmberCN/status/1963032806357139556) - Arkham, [https://intel.arkm.com/explorer/tx/0x24ffbb29f4ac8bc8a88887396f83f6f91154f11912e8e095f3ceb6c462456309](https://intel.arkm.com/explorer/tx/0x24ffbb29f4ac8bc8a88887396f83f6f91154f11912e8e095f3ceb6c462456309) - Linea, [https://linea.build/hub/events/linea-ignition](https://linea.build/hub/events/linea-ignition) - X, [https://x.com/LineaAssoc/status/1962992974733967570](https://x.com/LineaAssoc/status/1962992974733967570) - Arkham, [https://intel.arkm.com/explorer/tx/0x7baebf33f47c96da9fd7617c4f6d09487a47f1881bdee161e62a56ad4943d61e](https://intel.arkm.com/explorer/tx/0x7baebf33f47c96da9fd7617c4f6d09487a47f1881bdee161e62a56ad4943d61e)
[Gate Institute](https://www.gate.com/learn/category/research) is a comprehensive blockchain and encryption 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 Investment in the cryptocurrency market involves high risks. Users are advised to conduct independent research and fully understand the nature of the assets and products being purchased before making any investment decisions. Gate shall not be liable for any losses or damages arising from such investment decisions.