Gate Research Institute: Japan is about to approve the first yen stablecoin JPYC | NFT market trading volume rose by 30% month-on-month

Crypto Market Overview

  • BTC (-1.52% | Current Price 115,804 USDT): Previously, BTC surged to a peak of 124,497 USD but failed to effectively break through, subsequently experiencing a significant pullback. Recently, the price has found support multiple times around 115,800 USD, but it is now approaching this critical level. If it breaks below this range, it may further test support at 114,000 USD or even lower. On August 15, the net outflow from BTC ETF reached 14.1 million USD in a single day, with BlackRock's IBIT inflow at 146 million USD.
  • ETH (-0.73% | Current Price 4,358 USDT): The price of ETH has seen a significant decline after reaching a high of 4,575 USD, currently dropping to around 4,360 USD, refreshing the intraday low of 4,342 USD. If the price continues to decline, it is important to pay attention to the support level around 4,340 USD. If this position is lost, it may further retrace to the 4,300 USD range or even lower. On August 15, the ETH ETF saw a net outflow of 59.3 million USD, with BlackRock's ETHA inflowing 338 million USD and Fidelity's FETH outflowing 272 million USD.
  • Altcoins: Most mainstream altcoins have pulled back and declined, with market sentiment mainly being "neutral". The Fear and Greed Index reports 60 today, still in the greed zone, indicating that market sentiment is relatively positive but the risk of overheating should be monitored.
  • Macro: On August 15, the S&P 500 index fell by 0.29% to 6,449.80 points; the Dow Jones index rose by 0.08% to 44,946.12 points; the Nasdaq index fell by 0.40% to 21,622.98 points. As of August 18, 10:30 AM (UTC+8, the price of spot gold per ounce is currently reported at 3,344 USD, with a 24H increase of 0.26%.

Popular Tokens on Juejin

BIO Bio Protocol (+24.65%, circulating market cap 203 million USD)

According to Gate's market data, the current price of the BIO token is $0.126, which has increased by 24.65% in the last 24 hours. BIO is a decentralized science (DeSci) governance and liquidity protocol. The mission of BIO is to accelerate the development of biotechnology by providing global patients, scientists, and biotechnology professionals with the capability to collectively fund, establish, and own tokenized biotechnology projects and intellectual property (IP).

Recently, BIO launched a new real-time DeSci analysis and BioAgent trading feature in the biological market, further enriching the ecological application scenarios. At the same time, the project announced that over 125 million BIO have been staked and introduced a 1 million BioXP enhancement plan. Previously, its new points system went live, and to reward long-term supporters, BioXP will be distributed for free among OG users. The combination of technological innovation, token staking, and community incentives has jointly driven a strong rise in the price of BIO.

LINK Chainlink (+10.79%, circulating market value 16.849 billion USD)

According to Gate's market data, the current price of LINK token is $24.97, up about 10.79% in the last 24 hours. Chainlink is a decentralized oracle network designed to securely connect blockchain smart contracts with off-chain real-world data. It allows smart contracts to access and use data from various external sources, such as financial market data, weather data, IoT data, and more. Its native token is LINK, which is used as a reward for node operators providing data services, and for developers to pay for using Chainlink services.

Recently, Chainlink launched the Chainlink Reserve strategic reserve plan, which will convert user fees paid by large enterprises and on-chain revenue into LINK tokens and accumulate them to support the long-term sustainable development of the network. At the same time, Chainlink announced a strategic cooperation with ICE, the parent company of the New York Stock Exchange, to strengthen its role as a bridge between traditional finance and blockchain. On-chain data also shows that whales have cumulatively increased their holdings of 580,000 LINK (over $13.8 million) through four addresses within 24 hours, with both funding and fundamentals providing dual support, driving the LINK price strongly upwards.

ARB Arbitrum (+7.34%, circulating market cap 2.66 billion USD)

According to Gate market data, the current price of the ARB token is $0.5236, having increased by approximately 7.34% in the last 24 hours. ARB is the governance token of the Arbitrum network, issued by the Offchain Labs team. Arbitrum is a Layer 2 scaling solution based on Ethereum, aimed at improving transaction speed and reducing costs while maintaining compatibility with Ethereum. The ARB token is mainly used to participate in the governance of the Arbitrum DAO, including decisions on proposals, voting, and fund allocation.

Recently, ARB has performed strongly, supported by multiple favorable factors. Firstly, Robinhood has launched Arbitrum, opening a channel for millions of TradFi users to enter DeFi. At the same time, PayPal announced the adoption of the Arbitrum network, further enhancing market confidence in its ecological prospects. In addition, Arbitrum DAO, as one of the first organizations to join the Ethereum strategic reserve, has seen its Ethereum treasury grow by about 36% monthly, demonstrating robust expansion of its ecological funds, providing long-term support for the price increase. On the technical front, ARB successfully broke through key resistance zones after several months of bottoming out, entering a new upward cycle and boosting overall market heat.

Alpha Interpretation

The activity level of the NFT market has significantly increased in the past week, with a 30% month-on-month increase in transaction volume.

CryptoSlam data shows that as of August 17, the NFT market transaction volume increased by 30% in the past 7 days, reaching 173.2 million USD. The number of active buyers surged by 190.41% to 214,716, while the number of sellers increased by 168.71% to 115,289. However, the number of transactions slightly decreased by 10.65% to 1,553,949. By network, Ethereum had the highest NFT transaction volume at 105.4 million USD, a year-on-year increase of 85%; BNB Chain reached 18.1 million USD, with a growth of 33.48%; Solana reached 8.9 million USD, an increase of 10.14%. In contrast, Polygon and Mythos Chain saw transaction volumes decrease by 35.51% and 3.52%, respectively, at 11.5 million USD and 9.3 million USD.

The NFT market has recently shown significant signs of recovery, particularly with a substantial increase in participation from both buyers and sellers, indicating a renewed interest from investors and collectors in digital assets. The Ethereum network continues to dominate, while BNB Chain and Solana are also performing actively, highlighting the appeal of a multi-chain ecosystem. However, the decline in the number of transactions suggests that some trades may be concentrated on high-value or popular NFTs, indicating a divergence in market activity. Overall, the NFT market has strong short-term growth momentum, but attention should be paid to the sustainability of volatility and investor sentiment.

Japan is about to approve the first yen stablecoin JPYC

According to Nikkei News, Japan's Financial Services Agency plans to approve the country's first yen-denominated stablecoin - JPYC - this month. The fintech company JPYC Inc. will be allowed to register as a remittance business, and sales are expected to commence within a few weeks after the registration is completed. The value of JPYC will be supported by liquid assets such as government bonds to ensure its stable peg of 1 JPYC = 1 yen.

The launch of JPYC marks an important step for Japan in the regulation of digital currencies and stablecoins. As the first yen-pegged stablecoin, it not only provides a more convenient and secure digital option for domestic payments and cross-border remittances, but it may also enhance Japan's influence in the Asian stablecoin ecosystem. For the market, this reflects that the traditional financial system is actively embracing encryption technology, while emphasizing robust design in compliance and asset backing, which helps to enhance public and institutional trust in digital currencies.

Arbitrum DAO ETH reserves increased by 36% this month, with holdings surpassing 22,500 coins.

As one of the earliest organizations to join the Ethereum strategic reserve, Arbitrum DAO's Ethereum treasury has grown by about 36% over the past month, currently holding 22,500 ETH, worth nearly 100 million USD, accounting for about 0.02% of the total Ethereum supply. The overall scale of the asset management portfolio has risen to about 80 million USD, driven mainly by the increase in ETH prices and the injection of stablecoins into risk assets (RWA). Data from July 2025 indicates that Arbitrum DAO's asset management strategy remains robust amidst market fluctuations, while also demonstrating both revenue growth and risk management capabilities.

The growth of the Arbitrum DAO's treasury not only demonstrates its proactive strategic layout on ETH but also reflects the increasing trend of institutional management in asset allocation among DeFi organizations. By combining stablecoins and RWA injections, the DAO can enhance yields while maintaining liquidity, showcasing the exploratory value of crypto organizations in diversified asset management. For investors, this robust treasury strategy helps to strengthen confidence in the long-term development of the Arbitrum ecosystem, while also reflecting that DeFi projects are gradually improving their financial governance systems.

Gate Launchpool

New Listing Details

  • Subscription Project: PublicAI
  • Token Name: PUBLIC
  • New subscription time: Until August 22, 2025, 16:00 (UTC+8)
  • Participation Method: Stake ETH or PUBLIC to receive for free
  • Total airdrop amount: 1,750,000 PUBLIC

Project Introduction

PublicAI is committed to promoting the development of the artificial intelligence ecosystem by providing high-quality, on-demand AI training data. The platform not only meets the urgent need for high-quality data among enterprises but also allows individuals worldwide to convert their expertise into tangible benefits.
Reference Materials:


[Gate Institute](https://www.gate.com/learn/category/research) 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 predictions, and macroeconomic policy analysis.

Disclaimer Investing in the crypto 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.

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Last edited on 2025-08-18 07:40:05
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