Gate Research Institute: ETH Deleveraging Suppresses Rebound | AI Agent Meme Partially Explodes

BTC (+2.32% | Current Price 70,761.7 USDT)

BTC is currently still in the consolidation phase after a sharp deleveraging correction. After briefly dipping below $60,000 last week, it gradually rebounded and is digesting gains sideways around $70,000. Technically, MA5 has again supported the price, MA10 is exerting slight short-term resistance, and MA30 is slowly rising as a consolidation center, indicating that the bulls’ recovery is effective but no clear trend continuation has formed yet. The short-term direction still depends on whether incremental capital flows back or macro catalysts are realized. The $70,000 level is a key watershed; if it falls below and a rebound cannot regain the MA30 and confirm support, the market is more likely to retest the lows, with support levels at $68,000 and $65,000. In extreme cases, a revisit of the panic low at $60,000 cannot be ruled out.

ETH (+0.04% | Current Price 2,091.13 USDT)

ETH rebounded from a sentiment low of $1,744 to nearly $2,100, then entered a sideways tug-of-war. MA5/MA10/MA30 are intertwined, indicating the market is in a phase where both bulls and bears are waiting for the other to make a mistake. Recently, there have been frequent whale deleveraging actions on ETH, such as whales leveraging on Aave being forced to unwind after ETH broke key levels, transferring large amounts of ETH to exchanges for debt repayment and deleveraging. This creates more realistic selling pressure and a tendency to reduce positions on rebounds to $2,100. However, deleveraging is not entirely bearish; it also reduces the risk of chain liquidations. In uncertain conditions, the next few days may see repeated battles around $2,100, with multiple tests of the important psychological level at $2,000.

GT (+0.57% | Current Price 7.04 USDT)

GT is in a low-volatility sideways phase after a sharp correction, repeatedly changing hands around $7. Technical indicators MA5/MA10/MA30 remain intertwined, showing insufficient trend momentum. In the short term, GT is more likely to stay within a range of $6.95–$7.20. Currently, the bulls and bears are not clear, and it should be approached with a defensive mindset. If it breaks below the range, support levels are at $6.8 and $6.6. Overall, GT tends to follow the broader market risk appetite: if the market remains trendless, GT will likely continue in a range; if the market turns strong, a breakout above $7.20 would be an early signal.

Daily Gainers and Losers Tokens

During the consolidation phase, the market shows a split: BTC is favored for accumulation, while altcoins like ETH, BNB, SOL generally retreat, as funds reduce exposure to high volatility and concentrate into more liquid BTC.

The Fear & Greed Index is at 14, indicating extreme fear, but the good news is it has rebounded from an even more extreme level of 7 yesterday and is flat compared to last week. It’s important to note that in this extreme fear zone, some small-cap altcoins may experience technical rebounds after sharp drops or more aggressive short squeezes.

BNKR *BankrCoin (+43.45%, Market Cap $90.81 million)

According to Gate data, the current price of BANKR is $0.000901, up over 40% in 24 hours. Bankr is an AI-driven crypto AI agent that allows users to directly buy, sell, trade, and manage assets via natural language commands on social platforms.

The rise of BNKR is linked to the ongoing popularity of the Base ecosystem and AI Agents. As one of the well-known AI trading agent projects on Base, BNKR benefits from the recent explosion in the AI agent sector. The platform’s swap fees support BNK, and recent expansion to Solana has increased utility and exposure.

PIPPIN *Pippin (+37.87%, Market Cap $268 million)

According to Gate data, PIPPIN is currently priced at $0.26137, up nearly 38% in 24 hours. PIPPIN is a meme coin project on Solana, originating from AI-generated unicorn images combined with the concept of autonomous AI agents; it offers open-source tools driven by the community, such as interactive tutoring systems, AI marketing assistants, and personalized DevOps bots to enhance practicality.

PIPPIN’s rise is driven by meme narrative hype and speculative frenzy. As a leading AI-Meme fusion project on Solana, it benefits from the recent AI Agent sector boom. Additionally, high social media, KOL, and community engagement are significant drivers.

PENGUIN *Nietzschean Penguin (+32.56%, Market Cap $28.82 million)

According to Gate data, PENGUIN is currently priced at $0.26137, up over 30% in 24 hours. PENGUIN is a meme coin project on Solana, named Nietzschean Penguin, inspired by a meme combining philosopher Nietzsche and penguins, launched mid-2026 via Pump.fun platform.

The rise of PENGUIN exemplifies external event-driven and meme speculative hype. Viral posts from the White House triggered widespread KOL and community discussions, creating positive feedback. Additionally, major exchanges like Gate listing PENGUIN/USDT trading pairs provide easy access, attracting traders worldwide.

Hotspot Analysis

Vitalik Buterin: Algorithm Stablecoins Are True DeFi

Ethereum co-founder Vitalik Buterin responded to discussions about the essence of DeFi, stating that algorithm stablecoins should be regarded as genuine DeFi applications. Even if a high-quality ETH-collateralized algorithm stablecoin’s liquidity mainly comes from CDPs (Collateralized Debt Positions), supported by users holding negative algorithm USD positions and positive USD positions elsewhere, users can still transfer counterparty risk to market makers. This mechanism is a key feature, enabling users to access financial services while maintaining self-custody without exposing themselves to centralized risks.

In more complex scenarios, Vitalik believes that even if algorithm stablecoins are partially backed by RWA (Real-World Assets), as long as the overall system remains over-collateralized and highly decentralized—meaning the failure of any single underlying asset does not affect the overall collateral level—this can significantly improve the risk profile for holders. He advocates prioritizing ETH-collateralized algorithm stablecoins, then decentralized over-collateralized RWA models, gradually shifting from USD as a unit of account to broader diversified indices to enhance DeFi resilience and independence.

Cathie Wood: Rising Gold Prices Signal Potential Bitcoin and Crypto Boom

ARK Invest CEO Cathie Wood recently addressed concerns about AI bubbles, crypto price crashes, and macroeconomic uncertainties in a video interview. Despite Bitcoin recently dipping to around $60,000 and having a very low correlation with gold (about 0.14), she emphasized that in previous major cycles, rising gold prices often foreshadowed explosive growth in Bitcoin and other cryptocurrencies. Cathie Wood said ARK has been increasing its holdings in crypto-related stocks amid recent market panic, viewing this as a buying opportunity. She considers the current correction as more noise than systemic risk, with the market undergoing a reset amid fading AI hype, crypto restructuring, and Fed liquidity tightening, which helps filter out stronger assets.

In crypto, she explicitly identifies Bitcoin, Ethereum, and Solana as the “Big Three,” viewing them as the most promising and institutionally attractive core assets. BTC is not just a digital currency but a revolutionary entity integrating the foundational rules of the global monetary system, native internet technology layers, and a new asset class. Compared to this, she remains cautious on gold’s valuation, even suggesting gold might be closer to a bubble than AI, and recommends shifting investments from gold to assets like Bitcoin.

Tether Accelerates Global and Diversified Expansion, Transitioning Toward a Comprehensive Group

Tether, the issuer of USDT stablecoin, is accelerating its transformation from a pure crypto financial infrastructure provider to a comprehensive group centered on freedom. According to FT, Tether’s investment portfolio now includes about 140 assets across diverse sectors such as South American agriculture, Italian football club Juventus shares, robotics, AI, satellites, and media platforms like large investments in Rumble. These investments are mainly funded by the huge profits generated from USDT.

The company currently employs around 300 staff and plans to hire an additional 150 over the next 18 months, focusing on engineers, AI content creators, venture capital roles, and compliance/regulatory leaders across multiple countries.

To strengthen governance and financial discipline, Tether appointed Simon McWilliams as new CFO and established a small team in London to manage finance and operations. Despite maintaining high confidentiality (e.g., staff activities with only name tags, limited cross-team visibility) and relocating headquarters to crypto-friendly El Salvador, these moves indicate efforts to balance rapid expansion with institutional management. CEO Paolo Ardoino emphasized that reliance solely on centralized technology would undermine freedom.
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/en/cryptocurrency-heatmap
• X, https://x.com/VitalikButerin/status/2020595540791087517?s=20
• Youtube, https://www.youtube.com/watch?v=DqAstqD7Pzc

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