Crypto Market Overview

• BTC (+0.67% | Current Price: 105,570 USDT): BTC has been oscillating within a narrow range during the day, briefly rising to 106,500 USD before retracing. This position aligns with the middle band of the BTC daily Bollinger Bands; if it fails to break through effectively, the recent trend may primarily feature oscillating declines. Yesterday, BTC ETFs experienced a net outflow of 267 million USD, including 130 million USD from BlackRock’s IBIT and 50.1 million USD from Fidelity’s FBTC. Over the past three trading days, BTC ETFs have seen a cumulative outflow of over 1 billion USD.
• ETH (+4.32% | Current Price: 2,607 USDT): Over the past three weeks, ETH has been consistently fluctuating within the narrow range of 2,300 to 2,700 USD. Benefiting from significant net inflows into ETH ETFs over the past week, ETH has performed relatively well. Today, the ETH/BTC exchange rate is reported at 0.0247, with ETH’s market share at 9.5%. Yesterday, ETH ETFs saw a net inflow of 78.7 million USD, with 48.9 million USD coming from BlackRock’s ETHA and 29.8 million USD from Fidelity’s FETH; other ETH ETFs had no inflows or outflows.
• Altcoins: Mixed performance with a lack of collective narrative in the market. The Fear and Greed Index is reported at 58 today, down from last week, indicating a relatively rational state.
• Macro: Yesterday, the three major U.S. stock indices closed higher collectively. The S&P 500 index rose by 0.41% to 5,935.94 points; the Dow Jones index increased by 0.08% to 42,305.48 points; the Nasdaq index gained 0.67% to 19,242.61 points. As of June 3, 12:00 AM (UTC+8), the price of spot gold is reported at 3,368.56 USD per ounce, with a 24-hour decline of 0.46%.

Trending Tokens

BID CreatorBid (+61.92%, Circulating Market Cap: 15.95 million USD)

According to Gate’s data, BID is currently quoted at 0.058 USD, with a 24-hour increase of 61.92%, leading the altcoin market. BID’s current circulating market cap is 15.95 million USD, ranking 929th in the market. BID has risen for two consecutive days, nearly doubling from the end of May price.

CreatorBid is an AI Launchpad on the Base chain, having conducted a public offering in January at a price of 0.025 USDC per BID, with a purchase limit of 500 USDC per address, which will be 100% unlocked at TGE. Within three minutes of the public offering, CreatorBid achieved a fundraising goal of 2.5 million USD.

This morning, CreatorBid launched Launchpad V2, enabling decentralized project screening through “Curate with BID.” Community members need to lock BID tokens to vote, with voting rights proportional to the amount of BID locked (voting does not consume BID). Projects must obtain 2 million BID votes to be approved for launch, otherwise they cannot go live. Additionally, the team announced several special events for June, including rewards for loyal supporters, social media incentives, updates to the TAO Council, and ecosystem collaborations.

SOPH Sophon (+34.87%, Circulating Market Cap: 135 million USD)

According to Gate’s data, SOPH token is currently quoted at 0.071 USD, with a 24-hour increase of over 30%. On June 1, SOPH bottomed around 0.047 USD and rose for three consecutive days, becoming one of the leading altcoins in market gains. SOPH’s current circulating market cap is 135 million USD, ranking 357th in the market.

Sophon Network is a blockchain platform focused on entertainment applications, built on high-performance Layer 2 networks using ZK Stack technology, aiming to “invisibilize” complex blockchain technology. Its name is derived from the particle-level supercomputer “Sophon” in the sci-fi novel “The Three-Body Problem,” symbolizing powerful computing capabilities serving ordinary users invisibly.

Currently, SOPH is conducting a staking campaign on Gate Launchpool, allowing users to stake BTC, GT, or SOPH to earn SOPH tokens, with a total prize pool of 24 million SOPH. The annualized yield for staking BTC, ETH, and SOPH is 3.7%, 9.18%, and 226.86%, respectively. The high staking returns have stimulated SOPH’s rise.

LISTA Lista DAO (+17.54%, Circulating Market Cap: 74.7 million USD)

According to Gate’s data, LISTA token is currently quoted at 0.258 USD, with a 24-hour increase of 17.54%. LISTA’s current circulating market cap is 74.7 million USD, ranking 439th in the market.

Lista DAO (formerly Helio Protocol) is a decentralized finance (DeFi) protocol built on the BNB Chain, focusing on stablecoin lending and liquidity staking services. It has received a 10 million USD investment from YZi Labs. The project’s governance token LISTA can be used for governance voting (e.g., selecting collateral types), liquidity mining incentives, and profit sharing.

On May 21, Lista DAO announced a strategic partnership with WLFI, launching USD1 in the ListaDAO treasury. This news stimulated interest; USD1 can be used as collateral to borrow lisUSD, with the LisUSD/USD1 liquidity pool on PancakeSwap once seeing an annualized yield exceeding 10%. On the day the cooperation was announced, LISTA surged over 60% and is currently in a consolidation phase after the significant rise.

Alpha Insights

Global Public Companies Net Buy 196 Million USD in BTC Last Week, Strategy Increases Holdings for 8 Consecutive Weeks

According to SoSoValue data, last week, global public companies (excluding mining companies) had a total net inflow of 196 million USD into Bitcoin, while Bitcoin ETFs saw a net outflow of 157 million USD during the same period. Strategy has continuously increased its holdings for eight weeks, investing 75 million USD last week at a price of 106,495 USD to acquire 705 BTC, bringing its total holdings to 580,955 BTC.

MetaPlanet also made a significant purchase last week, investing 117 million USD to acquire 1,088 BTC at a price of 107,771 USD, increasing its total holdings to 8,888 BTC. Additionally, Gamestop disclosed its Bitcoin holdings for the first time last week, holding 4,710 BTC as of May 28, but did not disclose its purchase cost or holding expenses.

As of publication, the total amount of Bitcoin held by the reported global public companies (excluding mining companies) is 636,960 BTC, with a current market value of approximately 6.635 billion USD, accounting for 3.2% of Bitcoin’s circulating market cap.

Pendle Platform’s Cumulative Trading Volume Exceeds 50 Billion USD, TVL Reaches 4.43 Billion USD

According to Pendle co-founder TN Lee, the platform’s cumulative trading volume has surpassed 50 billion USD, with a TVL of 4.43 billion USD, showcasing strong growth momentum. Despite increased market volatility, Pendle achieved key milestones in the first half of 2025.

Meanwhile, the limits for PT-eUSDe (August 2025) and PT-USDe (July 2025) were raised and sold out within hours, reflecting high demand for fixed-term tokens (PT). Currently, the total supply of Pendle PT on the Aave platform has reached 1.32 billion USD.

Additionally, Pendle’s margin yield trading platform Boros and Citadels is set to launch in the second half of the year. The current price of PENDLE token is 4.3 USD, up over 130% from its price low in early March. PENDLE’s current circulating market cap is 1.188 billion USD, ranking 72nd in the market.

Spot Ethereum ETF Saw a Net Inflow of 286 Million USD Last Week, Continuing Three Weeks of Net Inflows

According to Farside data, the spot Ethereum ETF saw a net inflow of 286 million USD last week. The largest inflow came from BlackRock’s ETHA, with a weekly net inflow of 206 million USD, bringing the historical total net inflow of ETHA to 4.61 billion USD; followed by Fidelity’s FETH, with a weekly net inflow of 67.37 million USD, bringing its historical total net inflow to 1.51 billion USD.

The spot Ethereum ETF with the largest weekly net outflow was Grayscale’s ETHE, which had a net outflow of 4.62 million USD last week, with a historical total net outflow of 4.29 billion USD. As of publication, the total net asset value of spot Ethereum ETFs is 9.45 billion USD, with an ETF net asset ratio (market cap compared to total Ethereum market cap) of 3.04%, and the historical cumulative net inflow has reached 3.05 billion USD.

Institutional investments in Ethereum-related assets continue to increase, indicating a steady rise in market confidence. Fund movements reflect recognition of ETH’s long-term value; if the trend continues, prices are expected to maintain strength and further break through key resistance levels. Recent price trends show that ETH has retraced after several spikes near the 2,700 USD mark, which may become a short-term pressure point for ETH.

Gate Launchpool

• Project: LayerEdge
• Token: EDGEN
• Subscription Time: Until June 9, 2025, 20:00 (UTC+8)
• Participation Method: Stake BTC, ETH, or GT to receive for free
• Total Airdrop Amount: 7,500,000 EDGEN

Project Introduction

LayerEdge is an AI financial analysis platform aiming to become the “Bloomberg Terminal” of Web3. With support from several top institutions, Edgen helps users extract trading insights from on-chain data, social sentiment, and market fundamentals through its self-developed EDGM decision model, achieving information advantages. The platform offers four core functionalities: search, token radar, crowd insights, and smart networking, constructing a “Cognition-as-a-Service” closed-loop system. User behavior data can feed back into AI learning, creating a positive feedback loop. Additionally, LayerEdge has launched the Edgentic Marketplace, supporting customized AI investment tools, enabling ordinary users to have quasi-quantitative trading capabilities.


References:

• Gate, https://www.gate.io/trade/BTC_USDT
• Farside Investors, https://farside.co.uk/btc/
• CoinGecko, https://www.coingecko.com/categories
• Investing, https://investing.com/
• Gate, https://www.gate.com/zh/launchpool/EDGEN?pid=311

Gate Research is a comprehensive platform offering in-depth blockchain and cryptocurrency research, including technical analysis, market reviews, trend forecasts, and macroeconomic insights.

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.