Gate today's market analysis: BTC and ETH are consolidating with fluctuations, derivatives trading volume hits a new high, and the popularity of Solana Meme coin is rising.

Today (7th), the Crypto Assets market has intensified its Fluctuation, with Bitcoin (BTC) and Ether (ETH) both experiencing a fall, while alts are generally under pressure. At the same time, Gate exchange's July derivatives trading volume rose by 46.5% month-on-month, increasing its market share to 11%, making it the focus of the global CEX track. This article will combine macroeconomic factors, Mainstream Tokens, ETF and contract dynamics, on-chain hotspots, and platform data to provide you with a comprehensive analysis of the latest market trends.

BTC, ETH Fluctuation consolidation, Mainstream Token short-term under pressure

This week, BTC fell by 2.93%, showing a明显 stronger trend than alts. The price once dropped from $117,833 to a low of $112,555, before recovering to $114,755. In the short term, affected by macroeconomic factors and ETF capital flows, BTC is expected to fluctuate in the range of $113,000 to $116,000. If it can break through $116,230, it may aim for a new high of $120,000.

ETH fell 4.53% this week, dropping from $3,697 to $3,393, rebounding to $3,719 on August 4, with the latest quote at $3,660. The MACD indicator is at 15.48, showing a short-term bullish signal, while the RSI is at 58.41, indicating stable market sentiment, with a short-term range-bound fluctuation pattern likely to be maintained.

In terms of alts, the median decline of the Top 100 coins in the past 7 days is 6.07%. MemeCore leads the rise with a 61.08% increase, while Pi becomes the weakest performing altcoin this week with a drop of over 18%.

ETF Fund Flow and Contract Liquidation, Institutional Observation Sentiment Rises

In terms of ETF capital, BTC and ETH have experienced net outflows of over 100 million USD multiple times this week, indicating that institutional investors are clearly becoming more cautious in their risk appetite. In the contract market over the past 24 hours, BTC and ETH contracts have liquidated 22.29 million USD and 59.95 million USD respectively, reflecting an increased risk of leveraged funds under market fluctuations.

On a macro level, the final value of the U.S. S&P Global Services PMI for July reached 55.7, a new high since 2025, indicating that the U.S. service industry continues to expand, with improvements in business activity and employment. The total market capitalization of stablecoins rose to $279.1 billion, with significant inflows of off-exchange funds, and the average Gas fee on the Ethereum network decreased to 0.28 Gwei, leading to lower transaction costs.

Ethereum on-chain activity hits a new high, favorable policies drive ecosystem prosperity

Ethereum dApps have accumulated nearly 26.8 billion USD in revenue, with daily transaction counts reaching 1.87 million, approaching historical highs. The trading volumes of USDC, Tether, and Uniswap continue to rise, boosting on-chain activity. The passage of the U.S. "GENIUS Act" provides a clear framework for the legal and compliant operation of stablecoins, further enhancing market confidence and driving active stablecoin trading.

Gate derivatives trading volume explodes, platform competitiveness continues to improve

In July 2025, Gate's derivatives trading volume reached $740 billion, a month-on-month increase of 46.5%, with a market share rising to 11%, setting a new annual high. The platform's product liquidity, user structure, and market strategy optimization have begun to show results, with upgrades to the VIP system and market-making mechanism, as well as the continuous launch of new coin contracts, driving an increase in platform activity. The infrastructure continues to be optimized, significantly enhancing trading experience and capital efficiency, helping Gate steadily expand its market share.

Solana Ecosystem Memecoin Issuance Platform Competition Heats Up

The Solana ecosystem Memecoin launch platform PumpFun has released 13,690 new tokens in the past 24 hours, surpassing LetsBonk's 13,392 for the first time, with the platform's activity continuously increasing. Although the trading volume is slightly lower than LetsBonk, the PUMP token has risen 17.8% over the week, reflecting the market's positive expectations for the platform's growth potential. If it can further enhance trading depth and user stickiness, PumpFun is expected to solidify its leading position in the Memecoin issuance race.

Conclusion

The current crypto market is experiencing intensified fluctuations, with BTC, ETH, and alts facing short-term pressure, but on-chain activity and platform competitiveness continue to rise. Gate demonstrates strong growth momentum with a surge in derivatives trading volume and a record high market share. Investors should closely monitor macroeconomic factors, capital flows, and on-chain hotspots to seize new market opportunities.