Gate Research Institute: Bless $TIME Airdrop Launched | ETH ETF Outflow Intensifies

Crypto Market Overview

• BTC (-0.02% | Current Price 115,900 USDT): Last week, BTC failed to effectively break through the upper resistance after peaking at 124,497 USD, followed by a rapid retreat accompanied by increased trading volume, indicating weakened bullish momentum. From recent performance, BTC has repeatedly found support around 115,800 USD, which has become a key short-term defense line. However, the current price is approaching this range, and if this support is lost, it may further test 114,000 USD, or even challenge the lower support at 113,500 USD. In terms of short-term rebound, the upper pressure zone is between 118,500 – 119,000 USD. If it can reclaim and stabilize in this range, it may once again attempt to push towards 121,000 USD. However, if it fails to break through, the market may still maintain a weak oscillation pattern. On August 18, BTC ETF experienced a net outflow of 121 million USD in a single day, with BlackRock's IBIT seeing an outflow of 68.7 million USD and ARKB seeing an outflow of 65.7 million USD.
• ETH (-0.73% | Current price 4,358 USDT): ETH previously surged to a peak of 4,770 USD but failed to break through the upper resistance level, subsequently experiencing a noticeable pullback. The overall trend indicates heavy selling pressure above, with short-term bullish momentum weakening. Currently, ETH has found support multiple times around 4,270 USD, which has become an important defense line. However, as prices continue to decline, if it breaks below this range, it may further test the support at 4,150 – 4,170 USD. On the rebound side, the short-term pressure zone is located at 4,450 – 4,500 USD, and if it can effectively recover and stabilize, there is a chance to challenge the 4,650 USD line again. But if the rebound is weak, the market may still maintain a bearish oscillation pattern. Overall, ETH is currently in a downward oscillation channel, and it is crucial to pay close attention to the support level at 4,270 USD. On August 18, ETH ETF saw a net outflow of 196 million USD in a single day, with BlackRock's ETHA outflowing 87.2 million USD and Fidelity's FETH outflowing 78.4 million USD.
• Altcoins: Most mainstream altcoins have retraced and declined, with market sentiment primarily “neutral.” The Fear and Greed Index today reports 57, sitting in the neutral zone, indicating that market sentiment has cooled off compared to last week's overheating.
• Macro: On August 18, the S&P 500 index fell by 0.65%, closing at 6,449.15 points; the Dow Jones index decreased by 0.08%, closing at 44,911.82 points; the Nasdaq index rose by 0.03%, closing at 21,629.77 points. As of August 19, 10:45 AM ( UTC+8), the spot gold price is temporarily reported at 3,335 USD per ounce, with a 24H increase of 0.08%.

Trending Tokens on Juejin

WKC Wiki Cat (+56.57%, circulating market cap 86.66 million USD)

According to the Gate market data, the current price of the WKC token is 0.0000001683 USD, with an increase of 56.57% in the last 24 hours. Wiki Cat was originally designed by Sir. Mapy for the SMC community to teach them how to create commemorative tokens. Wiki Cat is a unique deflationary commemorative token with a 1% slippage, 100% ownership has been relinquished, and the liquidity pool will be permanently locked.

Recently, the number of WKC holders has been steadily increasing since March, with over 20,000 new holders, reaching 81,094 as of August 14, and the user base continues to expand. At the same time, the number of buy and sell transactions in a single day has increased by more than 5,510 and 10,270 respectively, with the daily trading volume exceeding 1.75 million USD, significantly enhancing market activity. More importantly, the built-in deflationary destruction mechanism destroyed over 275.6 billion WKC in a single operation yesterday, drastically reducing circulating supply and further enhancing token scarcity. The combination of user growth, increased trading volume, and deflationary effects has jointly driven the strong rise in WKC prices.

BSU Baby Shark Universe (+39.06%, circulating market value 29.93 million USD)

According to Gate's market data, the current price of the BSU token is $0.18, having risen approximately 39.06% in the last 24 hours. Baby Shark Universe (BSU) is a hybrid entertainment platform that leverages the globally recognized "Baby Shark" IP, bridging Web2 and Web3. Aiming for mass adoption, BSU is building a family-friendly ecosystem that encompasses gaming, NFTs, and metaverse experiences. The project has established collaborative partnerships with leading NFT collections such as Pudgy Penguins and Lil Pudgys, achieving multiple sellouts and demonstrating strong market appeal and community trust.

The recently launched NFT collaboration product of the project sold out immediately, significantly boosting community enthusiasm. As a newly launched low market cap token, BSU has high liquidity and volatility, further igniting market trading enthusiasm. Additional channel news indicates that it is expected to be listed on mainstream exchanges, with market expectations continuing to heat up. Brand IP empowerment, ecological expansion, and trading expectations resonate together, jointly driving the strong increase in BSU's price.

WAVES Waves (+23.43%, circulating market value 140 million USD)

According to Gate.io market data, the current price of the WAVES token is $1.47, with an increase of about 23.43% in the last 24 hours. Waves is a customized blockchain token platform designed for large businesses and consumer habits. The establishment of Waves aims to enable traditional businesses and end users to also benefit from the advantages brought by blockchain technology. The Waves platform was launched in 2016, originally designed to highlight the shortcomings of existing blockchain services. The result is an enterprise-ready platform that emphasizes security, ease of token operations (creation, transfer, and trading), and a simple and direct user experience, while addressing key long-term issues such as transaction speed and scalability.

Recently, Waves announced the "Waves Summer 2025 — Turning the Tide" plan on the official X platform, stating that it will complete a comprehensive upgrade in the next 90 days, focusing on promoting AI native integration, L2 integration, and the implementation of institutional-level applications, aiming to reshape itself into a new generation of blockchain infrastructure. The release of this positive news has boosted market confidence, and the community's rising expectations for ecological upgrades have jointly driven the strong increase in Waves' price.

Alpha Interpretation

BitMine ETH holdings surpassed 6.6 billion USD, and the stock price fell by 7% with the Ethereum correction.

BitMine Immersion Technologies (BMNR) latest submission to the U.S. Securities and Exchange Commission shows that the company holds over 1.5 million ETH, valued at approximately $6.6 billion, becoming the second largest publicly listed company holder of encryption currency, second only to Bitcoin giant Strategy (MSTR). The company, led by Fundstrat's Tom Lee (Tom Lee), increased its ETH reserves from 1.15 million to 1.5 million last week, demonstrating its long-term optimism for ETH.

Despite the increase in positions, influenced by the pullback in ETH prices, BMNR's stock price fell 7% on Monday, to $54 per share. ETH broke below $4,300 in the past 24 hours, significantly retreating from last week's peak of $4,800. Other digital asset financial companies also experienced declines, with Ethereum-focused SharpLink (SBET) down 3%, while Solana-focused Upexi (UPXI) and DeFi Development (DFDV) fell 6% and 9%, respectively.

Bless released the $TIME airdrop guide, 10% of the total supply will be allocated at the mainnet launch.

The cloud computing project Bless Network announced the $TIME airdrop plan, aimed at rewarding early contributors and promoting the construction of a decentralized internet. 10% of the total supply will be allocated at the launch of the mainnet, while measures will be taken to prevent bots and fake accounts.

The Chapter 0 phase of the airdrop will distribute 100 million TIME, accounting for 8.5% of the total BLESS supply. The registration period is from August 13 to 21, ending at 2 AM Beijing time on the 22nd. Users can choose to redeem BLESS immediately or stake it for 3 to 18 months, with longer staking periods offering higher rewards. Accounts that do not select a redemption method will default to an 18-month stake.

The Stellar Development Foundation invests in Archax, promoting the tokenization of real-world assets.

The Stellar Development Foundation (SDF) announced an investment in the UK digital asset platform Archax, aiming to leverage the Stellar blockchain to promote the tokenization of real-world assets (RWA). This is part of a broader collaboration between the two parties, with Archax having integrated Stellar into its tokenization tools and launched a tokenized Aberdeen money market fund.

The tokenization market is rapidly growing and is expected to become a trillion-dollar industry by 2030. Raja Chakravorti, the Chief Business Officer of the Stellar Development Foundation, stated that the Stellar network enables fast settlements, low-cost operations, and accelerates the tokenization of real-world assets. This transaction comes at a time when the tokenization of traditional financial instruments is accelerating, as Archax also acquired a German digital asset company regulated by BaFin last month to expand into the European market.

Gate Launchpool

New Listing Details

Subscription Project: TCOM Global

Token Name: TCOM

New issuance time: until August 23, 2025, 20:00 (UTC+8)

Participation method: Stake USDT, TCOM to receive for free.

Total airdrop amount: 900,000 TCOM

Project Introduction

TCOM is the world's first decentralized IP governance protocol, starting with 65 classic IPs from Japan's "God of Manga" Osamu Tezuka, redefining the creation, licensing, and value distribution of intellectual property.
Reference Materials:

• 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/categories
• Blocktime, https://blockzeit.com/wiki-cat-price-jumps-286-in-a-week-as-bnb-chain-soars-to-243b-new-ath/
• Coindesk, https://www.coindesk.com/business/2025/08/18/bitmine-s-ether-holdings-top-usd6-6b-stock-slides-7-alongside-eth-s-tumble
• Panews, https://www.panewslab.com/zh/articles/cba94ad5-4325-469e-b034-f0e78bff18e5
• Gate, https://www.gate.com/launchpool/PUBLIC?pid=357

Disclaimer Investing in the crypto 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 does not bear any responsibility for losses or damages resulting from such investment decisions.