Gate Research Institute: PYTH has risen nearly 50% this week, with the Story Protocol's $82 million buyback boosting the token's rise by over 30% | Gate VIP Weekly Report
Alpha Mining: BTC continues to operate within a descending channel, with the price center gradually moving downwards; ETH continues to operate within an ascending channel, bouncing back after receiving support around 4,250. As for altcoins, Pyth Network (PYTH) has seen a price increase of 48.58% due to its collaboration with the Ministry of Commerce; Story Protocol (IP) surged by 33.63% due to large-scale token buybacks and the launch of a new exchange.
On-chain funds: Ethereum's on-chain data has shown significant strength, with a net capital inflow reaching 1.6 billion USD, far ahead of other public chains. Its monthly on-chain transfer volume surpassed 320 billion USD, and DEX trading volume set a historical record. In addition, macroeconomic data being brought on-chain became a popular narrative last week, igniting the imagination around oracle and DeFi.
This report will conduct an in-depth analysis of the above trends and provide detailed market data and technical interpretations. You are welcome to click to view the full report, accurately grasp market dynamics, obtain forward-looking strategic perspectives, and explore the next round of potential opportunities.
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Gate Research Institute: PYTH has risen nearly 50% this week, with the Story Protocol's $82 million buyback boosting the token's rise by over 30% | Gate VIP Weekly Report
Highlights of Last Week's Market Overview
This report will conduct an in-depth analysis of the above trends and provide detailed market data and technical interpretations. You are welcome to click to view the full report, accurately grasp market dynamics, obtain forward-looking strategic perspectives, and explore the next round of potential opportunities.
[Gate Institute](https://www.gate.com/learn/category/research) is a comprehensive blockchain and cryptocurrency research platform that offers readers in-depth content, including technical analysis, hot insights, market reviews, industry research, trend forecasts, and macroeconomic policy analysis.
Disclaimer Investing in the cryptocurrency 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 is not responsible for any losses or damages resulting from such investment decisions.