SOL 30-day market capitalization inflow growth rate exceeds 4%｜Gate Research Institute

Crypto Market Overview

• BTC (+1.15% | Current Price 104,050 USDT): BTC has been fluctuating within a narrow range today. After dropping to around 101,500 USD last night, it found support at the lower band of the 4H Bollinger Bands and began to rebound. The short-term market trend is not very clear, and it may mainly be a sideways market in the near term. Yesterday, the net inflow of BTC ETF was 115 million USD, with BlackRock's IBIT inflow at 410 million USD, Fidelity's FBTC outflow at 123 million USD, and ARK's ARKB outflow at 132 million USD. In the last 20 days, the total inflow amount of BTC ETF reached 6.2 billion USD.

• ETH (-0.65% | Current price 2,572 USDT): ETH is currently near the middle band of the 4H Bollinger Bands, with 2,700 USD becoming a short-term price resistance point for ETH. Today's market share of ETH is reported at 9.3%, and the ETH/BTC exchange rate is reported at 0.0247. Yesterday, the overall outflow of ETH ETF was $39.8 million, among which BlackRock's ETHA inflow was $8.4 million, Fidelity's FETH outflow was $31.6 million, and Grayscale's ETHE outflow was $16.6 million.

• Altcoins: The market is generally correcting, lacking a collective narrative. The Fear and Greed Index today reports 69, a decrease compared to the previous days, but it remains in a state of greed.

• Macro: Yesterday, the three major U.S. stock indexes had mixed performances, with the S&P 500 Index rising by 0.41% to 5,916.93 points; the Dow Jones Index increasing by 0.65% to 42,322.75 points; and the Nasdaq Index falling by 0.18% to 19,112.32 points. In terms of U.S. Treasury bonds, the benchmark 10-year U.S. Treasury yield is 4.45%, while the 2-year U.S. Treasury yield, which is most sensitive to Federal Reserve policy rates, is 3.96%. As of May 16 at 12:00 AM (UTC+8), the spot gold price is reported at $3,208.56 per ounce, with a 24H decline of 0.88%.

Trending Tokens on Juejin

NXPC Nexpace (+1,340.87%, circulating market cap 484 million USD)

According to Gate's market data, the NXPC token was launched on the Gate platform yesterday afternoon at 14:00, with a current price of $2.86, up over 1,300% from the opening price. In the context of a general pullback in the altcoin market, NXPC's strong price performance has surprised the market. NXPC is the core digital asset of MapleStory Universe, issued by Nexpace, with a total supply cap of 1 billion tokens. Its uses include reward distribution, NFT trading, and gas payments, building an economic bridge both in and outside the game, providing diverse participation opportunities for players and creators.

MapleStory, as a classic game that has been operating for 20 years, has accumulated over 180 million players worldwide and historical revenue of up to 4 billion USD, making it one of the evergreen titles in the gaming industry. Today, the Nexon team is bringing this IP to the blockchain, attempting to create a community-driven digital economy ecosystem through MapleStory Universe. Looking back at the blockchain gaming bull market of 2021-2022, the market capitalization of GALA and SAND once surged to 7 billion USD. If we estimate based on the historical peak market values of these projects during that market environment, the NXPC price could potentially hit the range of 15-40 USD. However, the prerequisite is that NXPC must replicate the ecological activity and market frenzy of those GameFi projects back then. From a fundamental perspective, the GameFi sector itself does not have any particularly significant narratives or technological breakthroughs, and relying solely on the MapleStory IP to drive price growth seems somewhat overly optimistic.

Currently, NXPC is conducting a staking rewards program on Gate Launchpool. Users can stake BTC, ETH, or NXPC to earn NXPC tokens, with a total prize pool of 500,000 NXPC. The annualized returns for staking BTC, ETH, and NXPC are 8.92%, 7.19%, and 141.93%, respectively.

PORT3 Port3 Network (+62.54%, circulating market cap $22 million)

According to Gate market data, the current price of the PORT3 token is 0.044 USD, with a 24-hour increase of 62.54%. PORT3 has become one of the few altcoins that have maintained a positive increase in the past 24 hours.

Port3 Network is dedicated to building a "decentralized social data layer" by integrating Web3 and Web2 user data to provide precise data support and operational tools for DApps and Web3 projects. Its core vision is to become the social data oracle in the Web3 world, addressing the current pain points of user growth difficulties, traffic dispersion, and low conversion efficiency in Web3. Port3 has launched the SoQuest task platform, SoGraph analysis tool, and cross-chain social bot matrix, serving over 1,800 projects and covering nearly 800,000 users. Through mechanisms like task incentives, identity tags, and social data analysis, it effectively connects project parties with real users.

PORT3 has recently been frequently listed on mainstream trading platforms for spot or futures trading, and the increase in user engagement has stimulated the purchasing demand for PORT3 tokens, driving up the price of PORT3. Currently, PORT3 has risen over 300% from its price low at the beginning of April, but it is still down more than 80% from the historical high of 0.33 USD reached in March 2024.

Alpha Interpretation

CoinMarketCap officially launched the CMC Launch platform, with the first project being Aster ($AST).

The cryptocurrency data platform CoinMarketCap (CMC) today announced the launch of CMC Launch—a launch platform specifically designed for Pre-TGE projects. The first project to settle in CMC Launch is the decentralized perpetual trading platform Aster ($AST).

Aster is a decentralized perpetual trading platform that currently supports two mainstream public chains: BNB Chain and Arbitrum. In terms of financing, Aster has received investment from YZi Labs. Aster's core features include: a dual-mode trading interface that caters to different user groups; various airdrop incentives; non-custodial trading without KYC, ensuring asset sovereignty; and providing deep liquidity pools, low fees, and multi-chain support.

According to the official introduction, projects selected for CMC Launch will receive a dedicated launch page on CoinMarketCap, interactive tasks to incentivize user engagement, and support for wallet filtering for airdrop eligibility.

BlackRock BUIDL Fund completes first DeFi protocol integration

According to the latest market news, BlackRock's nearly $3 billion tokenized government bond fund BUIDL has completed its first direct integration with DeFi protocols, connecting to the Euler protocol on Avalanche. This integration is based on the sToken framework developed by Securitize, allowing for further on-chain expansion of BUIDL-like token products. sBUIDL is a composable ERC-20 token that can be fully redeemed for BUIDL funds. This integration was developed by Re7 Labs, allowing users to use sBUIDL as collateral to borrow USDC or AUSD, and earn AVAX rewards and underlying returns from the BUIDL fund.

The BUIDL Fund is an innovative product based on blockchain technology launched by global asset management giant BlackRock in 2024. The full name of the fund is "BlackRock USD Institutional Digital Liquidity Fund," which is the first tokenized fund supported by U.S. Treasury bonds issued on the Ethereum network, aimed at providing institutional investors with a stable, secure, and highly liquid digital asset solution. BUIDL achieves asset transparency and enhances settlement efficiency through blockchain, supporting a 24/7 trading experience, marking an important milestone in BlackRock's efforts to push financial assets on-chain and digital transformation.

SOL market cap inflow growth rate exceeded 4% in 30 days

According to a data report released by CoinDesk analyst Shaurya Malwa, SOL's market capitalization inflow growth rate has exceeded 4% in the past 30 days, marking its first positive shift after several weeks of capital outflow, although it still appears moderate compared to the frenzy period from December 2024 to January 2025. A rebound in market capitalization inflows usually indicates that traders are positioning themselves in advance for a rebound or suggests that market selling pressure is nearing its end.

The market value (on-chain token quantity × total value at the last movement price) is realized by tracking the dollar value of on-chain tokens at the last movement, filtering out speculative price fluctuations, and truly reflecting the flow of funds.

Although the current price of SOL has not significantly reacted, the realization of a positive market capitalization indicates that buying power is accumulating. The previous continuous outflow of funds reflects a loss of investor confidence. The current trend reversal may be an early signal of market sentiment recovery.

Gate Launchpool

New Subscription Details

Subscription Project: Nexpace

Token Name: NXPC

New Subscription Time: Until May 18, 2025, 20:00 (UTC+8)

Participation method: Stake BTC or ETH to receive for free.

Personal participation limit: 10 BTC or 300 ETH

Total airdrop amount: 400,000 NXPC

Project Introduction

NXPC is the core digital asset of MapleStory Universe, issued by Nexpace, with a total cap of 1 billion pieces. Its uses include reward distribution, NFT trading, and gas payments, building an economic bridge both inside and outside the game, providing diverse participation opportunities for players and creators.

NXPC adopts a self-regulating supply mechanism to balance market supply and demand. Through the "fission" mechanism, it increases the issuance of tokens when the demand for NFTs surges, and through the "fusion" mechanism, it recovers circulation when prices are overheated, reducing inflation and speculative risks. At the same time, it grants players the rights to create, breaking the monopoly of traditional games on content production.

The entire Adventure Island universe is built on the high-performance chain Henesys L1. This chain natively connects to the Avalanche C chain, designed specifically for the gaming economy, supporting efficient transactions and cross-ecosystem interoperability. NXPC, as the value carrier of the platform, will continue to grow as the ecosystem expands.
Reference Materials:

• 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/
• Believe, https://www.believescreener.com/
• CoinMarketCap, https://coinmarketcap.com/cmclaunch/
• Cointelegraph, https://cointelegraph.com/news/is-xrp-price-rally-over-for-now
• Gate, https://www.gate.io/en/launchpool

Disclaimer Investing in the crypto market involves high risks, and 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 does not assume any responsibility for any losses or damages resulting from such investment decisions.