Gate Research Institute: Tempo Testnet Officially Launched | Institutional Bitcoin Holdings Significantly Increase

Cryptocurrency Asset Overview

BTC (-2.76% | Current price 89,972 USDT)

BTC has shown a “slight weakening consolidation after a shock retreat” structure in the past day. The price repeatedly encounters resistance above $92,000, and has been consecutively retreating around $91,000, with short-term momentum clearly weakening. Technically, MA5 and MA10 have turned downward and fallen below MA30, with the three moving averages converging, indicating that the short-term trend has shifted from strong to neutral and slightly weak. If it cannot quickly recover MA10, the rebound will be limited. On the MACD, the fast and slow lines continue to decline after a high dead cross, with the red histogram shortening and turning green, indicating diminishing bullish momentum. In the short term, attention should be paid to the support zone at $90,500–$90,800. If this zone can hold steady, there is still a chance to attempt a correction near the moving averages; otherwise, if broken, it may further retest the $89,000–$88,500 range, entering a deeper correction cycle.

ETH (-3.71% | Current price 3,195.35 USDT)

ETH rapidly retreated after reaching a high near $3,440, showing a “technical correction after hitting resistance” pattern. In the short term, the price broke below MA5 and oscillated around MA10, slowing down the previously strong short-term structure. Although MA5, MA10, and MA30 are still in a bullish alignment, the three lines are converging, indicating that bullish advantage is weakening. The MACD also shows a high dead cross, with the red histogram shortening and increasing divergence of momentum, reflecting insufficient buying strength in the short term. If ETH can stay above MA10 and consolidate, the overall structure remains healthy, with potential to challenge the $3,420–$3,450 range again; but if it drops below the $3,260–$3,280 range, it may extend to test MA30 and previous support, entering a more complete correction wave.

GT (-2.53% | Current price 10.37 USDT)

GT, after breaking through the high of $10.7, has entered a retracement zone. As the momentum of mainstream coins weakens, GT has retraced to around $10.30, with MA5, MA10, and MA30 in a bearish alignment. On the daily chart, GT remains in a stabilization phase, with the MACD green histogram steadily increasing. If GT can hold the support at $10.3, it still has the opportunity to challenge the previous high again; if it breaks below, it may enter a deeper correction and consolidation.

Tokens with Daily Gains and Losses

In the past 24 hours, the market has shown a overall retreat pattern, and sentiment remains cautious. The fear index stays at 29, indicating continued low risk appetite among funds; from the market surface, BTC and ETH both declined about 1.3%, becoming the main drag on the market. Mainstream assets like XRP, SOL, etc., fell between 1%–3%. Most sectors show consistent weakness, indicating that funds are still in a contraction and waiting mode.

NIGHT Midnight (+61.18%, Market cap 1.077 billion USD)

According to Gate data, the current price of NIGHT token is $0.06512, up over 61.18% in 24 hours. Midnight (NIGHT) is the latest privacy-focused Layer 1 blockchain (L1), led by Cardano founder Charles Hoskinson. Its design goal is to provide efficient privacy computing capabilities without sacrificing compliance.

The price surge of NIGHT is mainly driven by multiple catalysts. First, the NIGHT/USDT trading pair launched on Gate and other exchanges, bringing initial exposure and liquidity to the token; meanwhile, the Midnight Foundation officially opened the GlacierDrop and Scavenger Mine token redemption portals, allowing early participants to start claiming allocations, which increased community attention. Additionally, Blockchain.com publicly supported Midnight and released in-depth interviews, strengthening project narrative and market recognition.

BEAT Audiera (+40.63%, Market cap 237 million USD)

According to Gate data, BEAT’s current price is $1.67870, up over 40.63% in 24 hours. Audiera (BEAT) is an AI-driven music platform designed to enable creators, musicians, and dancers to earn through on-chain interaction and content production. The platform’s core mechanics combine AI content generation, on-chain creator incentives, and community participation, making content creation and distribution more engaging.

BEAT’s recent increase is mainly driven by multiple positive events. The project announced that BEAT’s full market cap has surpassed $1.5 billion, marking a milestone in its ecosystem, boosting market confidence in its growth potential; meanwhile, the official continued to hold small token giveaways, increasing community activity and discussion. Furthermore, Audiera and Greedy World announced a strategic cooperation, combining “GameFi + music interaction” to expand user coverage and narrative scope.

LUNA Terra (+41.87%, Market cap 135 million USD)

According to Gate data, LUNA is currently priced at $0.20018, up over 41.87% in 24 hours. LUNA is the native asset of the Terra blockchain ecosystem, mainly used for network governance, staking validation, and maintaining the operation of Terra’s application layer. Although the Terra ecosystem shrank significantly after the stablecoin mechanism collapse, its on-chain applications still persist, and the community continues to push for governance improvements and protocol maintenance, including staking node operation and infrastructure upgrades, to maintain minimum network activity.

This round of LUNA’s rise mainly reflects a typical “bottom rebound” pattern. After a long decline, the price found support at previous lows, and after a period of consolidation with reduced volume, it experienced a volume breakout, triggering a short-term technical rebound. The moving average system shows the price re-crossing short-term averages, with momentum indicators rebounding in sync, forming a short-term reversal pattern. Overall, this increase mainly reflects technical recovery at lows rather than fundamental changes.

Market Highlights

Large banks accelerate Bitcoin collateral services, institutional capital acceptance continues to rise

Strategy founder and executive chairman Michael Saylor stated that several large banks have begun implementing Bitcoin-backed credit services, including BNY Mellon, Wells Fargo, Charles Schwab, JPMorgan, and Citigroup. These institutions hold key positions in traditional finance, and their actions demonstrate that digital assets are gradually moving from fringe assets to mainstream financial infrastructure. The collateralization of Bitcoin as a highly liquid asset is gaining formal recognition in institutional scenarios. The opening of related credit services not only signifies maturity in risk assessment and internal compliance frameworks but also indicates banks are starting to incorporate digital assets into broader asset-liability management systems.

Saylor emphasized that Bitcoin is increasingly viewed as an institutional collateral with strong anti-inflation properties and high liquidity. The willingness of banks to open related credit services at this stage reflects a more mature understanding of the risk-return profile of digital assets. As more financial institutions advance Bitcoin custody, clearing, and lending functions, the integration speed between traditional finance and crypto markets will further accelerate, potentially leading to more structured products, financing services, and capital management solutions, creating new opportunities for institutional capital allocation and capital efficiency optimization.

Institutional Bitcoin holdings have surged significantly, and capital allocation structures are deepening

According to Glassnode data, since January 2023, institutional Bitcoin holdings have grown from approximately 197,000 to 1.08 million BTC, an increase of about 448%. This rapid expansion shows that Bitcoin is transitioning from an alternative asset to a core component of institutional investment portfolios, with recognition of its long-term value and anti-inflation features significantly increasing.

The change in holding structure also reflects a strategic shift among institutions: more funds are using Bitcoin as an asset to hedge macro uncertainties and as a long-term investment tool with growth potential exceeding traditional assets. As more financial institutions improve custody, trading, and risk management mechanisms, institutional participation is expected to continue rising, and the market structure of Bitcoin will become more mature and stable.

Tempo Testnet officially launched, payment-oriented public chain targets instant settlement scenarios

Supported by Stripe and Paradigm, Tempo announced the launch of its testnet, designed as a public chain architecture centered on payments, aiming to achieve instant settlement and predictable transaction fees. The project focuses on enhancing on-chain payment efficiency, emphasizing maintaining stable and transparent cost structures under high concurrency to meet the speed and reliability demands of daily payments.

With the testnet open, Tempo plans to verify its performance in settlement speed, network stability, and fee consistency and gradually expand its ecosystem of collaborations. The team believes that if its performance proves effective during testing, Tempo could become a foundational infrastructure for large-scale payment scenarios, providing a more competitive environment for on-chain transactions, merchant payments, and new applications.
References:

• Gate, https://www.gate.com/trade/BTC_USDT
• Farside Investors, https://farside.co.uk/btc/
• Gate, https://www.gate.com/trade/ETH_USDT
• CoinGecko, https://www.coingecko.com/en/cryptocurrency-heatmap
• X, https://x.com/Cointelegraph/status/1998618750170394933?s=20

[Gate Research Institute](https://www.gate.com/learn/category/research) is a comprehensive blockchain and cryptocurrency research platform that provides in-depth content including technical analysis, hot topics, market review, industry research, trend prediction, and macroeconomic policy analysis.

Disclaimer Investing in the cryptocurrency market involves high risks. Users are advised to conduct independent research and fully understand the nature of the assets and products they purchase before making any investment decisions. Gate We are not responsible for any losses or damages resulting from such investment decisions.