Gate Research Institute: BTC fell to 112,000 USD | Tether Gold reserves market capitalization exceeded 2.1 billion USD

Encryption Asset Panorama

BTC (-0.29% | Current Price 112,112 USDT)

BTC has faced pressure to retreat after a short-term surge, with the price pulling back from above $116,000 to around $112,000, continuing the short-term downtrend. The current price is operating below the MA5 and MA10, with the moving averages showing a bearish arrangement, indicating that the selling pressure above remains heavy. The MACD double lines continue to decline and are below the zero axis, with green bars expanding and momentum being weak. If the price breaks below the support at $111,500, it may further test the $109,600 area; if it stabilizes and breaks above $113,500, it is expected to recover to $115,000.

ETH (-0.11% | Current price 3,968 USDT)

ETH is also trapped in a high-level adjustment pattern, with the price retreating from above $4,200 to around $3,960. The short-term moving averages MA5 and MA10 are turning downward and forming a death cross, while MA30 has turned into a resistance level after being breached. The MACD double lines continue to decline, with green bars extending, indicating that the momentum remains weak and there is a lack of upward momentum in the capital market. If it falls below the support at $3,950, attention should be paid to the $3,870 area below; conversely, if it can return above $4,050 and break through with volume, the short-term rebound potential could open up to $4,150.

GT (-0.34% | Current price 14.63 USDT)

GT continues the downward trend, with the price retreating from a high of 15.8 USD and currently hovering around 14.6 USD. MA5, MA10, and MA30 are in a bearish arrangement, indicating a weak short-term structure. The MACD double lines are moving downward, and the green bars are continuously expanding, with no signs of convergence in momentum yet. If the price breaks below 14.50 USD, it may trigger further declines to the support at 14.20 USD; however, if it stops falling and rebounds to recover 14.90 USD, a short-term recovery trend may be expected.

Daily Price Change Tokens

In the past 24 hours, the overall encryption market has declined, with mainstream assets under pressure. BTC has fallen back to the previous support range; ETH has seen its decline widen to 3.66%. The mainstream public chain sector has also weakened, with SOL dropping 3.34%, and funding sentiment has clearly shifted towards defense. Overall, market risk appetite has decreased, and the short-term adjustment pattern is expected to continue.

PI Pi Network (+16.77%, circulating market cap 21.57 billion dollars)

According to Gate.io market data, the current price of the PI token is $0.26590, with an increase of approximately 16.77% in the last 24 hours. Pi Network is a decentralized encryption network project based on mobile devices, aimed at allowing ordinary users to participate in blockchain mining and ecosystem construction through their smartphones. The project adopts a lightweight consensus mechanism to lower the participation threshold and forms a decentralized community composed of tens of millions of users worldwide.

The PI token has recently seen a strong rise, mainly driven by the KYC system update. On October 29, the official announcement stated that an additional 3.36 million users have passed identity verification, and more accounts that were previously “pending approval” have been opened for resubmission of live detection, significantly expanding the number of circulating users within the ecosystem. This news has led to a rapid influx of short-term capital. Coupled with the increase in community activity and the sentiment in the trading market, PI has become one of the standout popular tokens in recent times.

AT APRO Token (+22.73%, circulating market cap 92.805 million USD)

According to Gate market data, the current price of the AT token is $0.4005, with a 22.73% increase in the last 24 hours. APRO is a decentralized AI oracle protocol focused on providing trusted data feeds and verification services for scenarios such as RWA, AI, prediction markets, and DeFi. The project adopts a multi-chain data verification mechanism, covering more than 40 mainstream public chains, and achieves high-frequency data verification and intelligent invocation through the Oracle 3.0 architecture, becoming an important part of cross-chain data infrastructure.

The AT token has recently surged strongly, likely driven by multiple favorable factors. In the weekly report released by the official team this week, it was disclosed that the APRO platform's verification data volume has surpassed 100,000 times, and the AI call volume is nearly 95,000 times, indicating a continuous rise in demand for ecological applications. In addition, the team has announced that a new plan titled “A PROmise of All PROmises” will be launched on October 29, which the market generally interprets as a significant signal for ecological upgrades. Coupled with expectations for the x402 payment protocol linkage, AT has become one of the hottest representative projects in the AI + Oracle sector recently.

PUFFER Puffer (+29.82%, Market Cap 35.3347 million USD)

According to Gate's market data, the PUFFER token is currently priced at $0.11701, rising approximately 29.82% in the last 24 hours. Puffer is a modular infrastructure project built on the Ethereum ecosystem, with its core product UniFi AVS aimed at introducing real-time execution mechanisms for Ethereum Rollups, enhancing transaction confirmation speed and network efficiency. The project achieves a balance of immediacy and security by executing pre-confirmation technology, simulating and verifying before transaction packaging, thus strengthening the stability of Layer2 networks and improving user experience.

The PUFFER token has recently surged strongly, mainly driven by the launch of new products and the heat of narrative. The official announcement this week of the official launch of UniFi AVS, which uses “real-time execution” technology to solve the issues of Rollups' delays and uncertainties, has attracted significant market attention. The innovation of this technology is seen as an important milestone in the Ethereum scaling ecosystem. Coupled with increased community activity and expectations of interaction with multiple ecological projects, PUFFER has become one of the standout infrastructure tokens in recent performance.

Hotspot Interpretation

t54.ai launched x402-secure, building a proxy ecosystem for programmable trust and verification system.

The Trusted Agent Protocol t54.ai has launched a new component x402-secure, adding “programmable trust” and “verifiability” layers to the x402 protocol, marking a significant advancement in the security and transparency of the agent payment system. The solution achieves pre-settlement protection through the native risk engine Trustline, identifying potential risks before payment initiation; its SDK can automatically capture agent reasoning and call traces, generating AP2 compatible evidence and embedding it into the payment process, defending against logical attacks such as prompt injection and false subscriptions from a mechanistic standpoint, thus enhancing the traceability and compliance of model execution. Meanwhile, the Validator Agent Network (VAN) monitors servers, APIs, and website content in real-time, conducting dynamic analysis and risk alerts based on social reputation and on-chain data.

The launch of x402-secure marks the entry of agent network governance into the era of “verifiable trust”. Its pre-settlement protection and reasoning tracking mechanism form a risk closed loop from execution to payment, effectively reducing agent illusion and abnormal calls; the VAN network, through monitoring and reputation assessment, establishes a data-driven trust scoring system for ecosystem participants, enhancing transparency and risk resistance. Overall, x402-secure deeply integrates security verification and behavior tracing, laying a institutionalized security foundation for agent collaboration and autonomous agent economy.

Visa expands stablecoin support territory, quarterly encryption payment volume increases fourfold year-on-year.

Global payment giant Visa announced that it will support more stablecoin settlements and transfers, further strengthening its infrastructure layout in the encryption payment ecosystem. CEO Ryan McInerney stated during the fourth quarter earnings call that the company is expanding support for four stablecoins, which operate on four different blockchains, covering two fiat currencies and can be converted into more than 25 traditional currencies worldwide. This initiative means that Visa is transforming from a traditional card organization to a multi-chain payment hub, building a fund clearing system that is compatible with both on-chain and off-chain transactions. McInerney pointed out that in the fourth quarter, Visa card spending linked to stablecoins increased fourfold year-on-year, reflecting that mainstream financial users are rapidly adapting to digital currency payment scenarios.

Since 2020, Visa has facilitated over $140 billion in encryption and stablecoin flows, including more than $100 billion in user purchase transactions. Currently, Visa has launched over 130 card programs linked to stablecoins in more than 40 countries and has begun allowing banks to mint and burn stablecoins independently, further deepening the integration of stablecoins with the traditional financial system. This move not only enhances the efficiency of cross-border payments and settlements but also signifies that Visa is viewing stablecoins as a key component of future payment networks, providing infrastructure support for the “encryption” of the global financial system.

Tether Gold's market capitalization has surpassed 2.1 billion USD, holding 90% of the tokenized gold market along with PAX Gold.

The stablecoin issuer Tether has released its verification report for Tether Gold (XAUT) for the third quarter of 2024, confirming that each token is fully backed by physical gold bars in Switzerland. As of September 30, Tether holds a gold reserve of 375,572 troy ounces, valued at approximately $1.44 billion based on the quarter-end price. Currently, there are 522,089 XAUT in circulation, with an additional 139,751 tokens available for sale, indicating that extra reserves have been prepared but not yet distributed. The report emphasizes that XAUT maintains a high level of transparency in the combination of stablecoins and physical assets, becoming a key benchmark for the tokenization of precious metals.

Since the report was released, driven by the rise in gold prices, the full reserve market capitalization of XAUT has increased to $2.1 billion, more than doubling from $850 million in August. Together with PAX Gold, the two account for about 90% of the $3.7 billion tokenized gold market. This not only reflects the increased trust of investors in on-chain physical assets but also shows that traditional safe-haven assets are accelerating their migration to blockchain. The strong growth of Tether Gold in the stablecoin and RWA sectors marks on-chain gold as a new value anchor connecting the encryption and traditional markets.

<br> Reference Material:

• 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
• X, https://x.com/t54ai/status/1982809581962052083
• The Block, https://www.theblock.co/post/376682/visa-adding-support-for-four-stablecoins-on-four-unique-blockchains-as-spend-quadrupled-last-quarter?utm_source=twitter&utm_medium=social
• CoinGecko, https://www.coingecko.com/coins/tether-gold

<br> Gate Research Institute 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.

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