Gate Research Institute: OpenSea launches multi-chain creation platform Creator Studio 2.0 | Sui TVL doubles and hits a new high this year

Summary

1. OpenSea launches Creator Studio 2.0, supporting a multi-chain experience upgrade for creators to issue and showcase.
2. EigenDA V2 has launched on the mainnet, with throughput improved by approximately 6.7 times compared to V1.
3. CBOE submits a general listing framework for crypto ETPs, with SOL and XRP ETPs expected to launch in Q4.
4. Ethereum ETF set a new high for capital inflow in July, The Ether Machine ramps up on-chain response to institutional entry.
5. Sui TVL reached a historical high of 2.2 billion USD, doubling in growth within the year, showcasing accelerated ecosystem expansion.
6. Gate Launchpool launches ALEO, with a total prize pool of 77,942 ALEO.

Market Interpretation

Market Commentary

• BTC Market —— This week BTC fell by 0.73%. At the beginning of the week, BTC prices oscillated upward in the range of 118,000 USDT to 119,500 USDT, trying to break through the upper resistance level. From July 30 to 31, BTC experienced a noticeable pullback, with prices rapidly falling from around 119,000 USDT, dipping below 116,000 USDT at the lowest point. This decline was accompanied by a significant increase in trading volume, indicating strong selling pressure. After reaching the low, BTC quickly stabilized and rebounded, currently rising back to around 118,237.4 USDT.
• ETH Market — This week ETH rose by 5.47%. At the beginning of the week, ETH price fluctuated upward in the range of 3,800 USDT to 3,900 USDT, briefly reaching a high near 3,940 USDT. Subsequently, from July 29 to 30, ETH experienced a significant pullback, quickly dropping from the high, hitting a low near 3,720 USDT. This decline was accompanied by increased trading volume, indicating strong selling pressure. After reaching the low, the ETH price stabilized and began to rebound, currently rising back to around 3,845.04 USDT. During the rebound, the price formed a new consolidation area in the range of 3,760 USDT to 3,840 USDT.
• Altcoins — This week, mainstream altcoins have shown a significant structural differentiation, with funds exhibiting clear characteristics of "the strong getting stronger" and "hotspot rotation". Among the top 100 cryptocurrencies by market capitalization, ENA and CFX have emerged as focal points with weekly gains exceeding 33%, demonstrating strong short-term explosive potential.
• ETF and Contract Market —— In terms of ETF funding, the BTC ETF has shown a trend of net inflow over the past 5 trading days, reflecting a rebound in market confidence in its medium to long-term prospects. In contrast, the ETH ETF has performed even better recently, maintaining a trend of net inflow for several consecutive weeks, with the net inflow scale significantly exceeding that of the BTC ETF for most of the time. The main reason for this is that ETH has outperformed BTC in recent price increases, attracting more institutional funds to continue pouring in. Regarding contracts, in the past 24 hours, the BTC and ETH contracts have experienced liquidations of $99.46 million and $72.84 million, respectively.
• Macroeconomic Data —— On July 30, the Federal Reserve announced that it would maintain the target range for the federal funds rate at 4.25%-4.50%, marking the fifth consecutive time it has held steady. Following the announcement of the interest rate decision, the three major U.S. stock indices briefly plummeted, turning from gains to losses.
• Stablecoin —— The total market capitalization of stablecoins has risen to $275.2 billion, with additional off-exchange funds flowing in.
• Gas Fee —— This week, the Gas fee on the Ethereum network has significantly increased compared to last week. As of July 31, the average Gas fee for the day was 2.8 Gwei.

Popular Concepts

This week, the cryptocurrency industry continues to rise, and market sentiment remains optimistic, with most mainstream altcoin sectors experiencing an increase. According to Coingecko data, the RWA Protocol, Stablecoin Protocol, and Liquid Staking sectors have all shown upward trends this week, increasing by 248.2%, 20.6%, and 17.5% respectively over the past 7 days.

RWA Protocol

The RWA Protocol tokenizes real-world assets (such as real estate, bonds, etc.) through blockchain technology, significantly enhancing the liquidity and accessibility of assets, bridging traditional finance and the digital economy. Its core value lies in achieving digital management and trading of assets through smart contracts, lowering investment thresholds and increasing transparency. — Over the past 7 days, this sector has risen by 248.2% (due to the completion of the TGE for a new token and its inclusion in the statistics), with APF Coin and Carnomaly increasing by 132.6% and 59.7%, respectively.

Stablecoin Protocol

The Stablecoin Protocol refers to a cryptocurrency protocol system focused on the design, issuance, management, and maintenance of the stability of anchored assets. Its core goal is to achieve value anchoring (such as USD, EUR, gold, etc.) under a decentralized architecture, and to ensure price stability, predictability, and scalability. — Over the past 7 days, this sector has risen by 20.6%, with Keeta and Ethena increasing by 50.3% and 33.6%, respectively.

Liquid Staking

Liquid Staking is a mechanism that tokenizes staked assets, aiming to release the liquidity of originally locked assets, allowing users to earn staking rewards while still participating in on-chain activities such as DeFi. This mechanism has become one of the key infrastructures in the DeFi ecosystem. — In the past 7 days, this sector has risen by 17.5%, with Cronos zkEVM CRO and Babylon increasing by 18.9% and 17.5% respectively.

Focus of the Week

OpenSea launches Creator Studio 2.0, supporting multi-chain creators with upgraded issuance and display experience.

The NFT trading platform OpenSea has officially launched Creator Studio 2.0, providing creators with a one-stop multi-chain creation and issuance tool. The new version supports the creation of NFT collections on up to 20 blockchains, setting issuance times, and customizing display pages for sharing and storytelling. This upgrade aims to lower the barriers to creation, enhance content expressiveness, and further consolidate OpenSea's core position in the Web3 creation field. This feature has now been integrated into the new version of the OpenSea platform and is fully open for use.

OpenSea's launch of Creator Studio 2.0 marks its transformation from a single trading platform to a multi-chain creation and distribution "infrastructure provider." In a landscape where platforms like Blur focus on "trading efficiency" and "airdrop incentives" as their core competitive advantages, OpenSea has chosen to differentiate itself by empowering creators and building a content ecosystem, which is expected to strengthen platform stickiness and the proportion of original content, reversing the trend of continuous traffic loss. From an industry perspective, with the rapid rise in on-chain NFT activity on Ordinals, Ethereum Layer 2, Solana, and others, unified entry and cross-chain distribution are becoming new trends. The multi-chain support and upgraded creation tools of Creator Studio 2.0 will further promote the professionalization and scaling of the Web3 content creation ecosystem.

EigenDA V2 has been launched on the mainnet, with a throughput increase of approximately 6.7 times compared to V1.

The modular data availability (DA) solution EigenDA has announced the official launch of its V2 version on the mainnet. The new version increases data throughput to 100 MB/s, approximately 6.7 times higher than V1, while reducing the average latency from about 600 seconds to just 10 seconds, an improvement of nearly 60 times. This upgrade significantly enhances the performance of EigenDA, providing more efficient data availability support for the Rollup ecosystem.

The release of EigenDA V2 is another key milestone in the development of modular blockchain architecture. The "dual leap" in throughput and latency not only significantly enhances the performance ceiling of data availability but also paves the way for infrastructure for Rollups, L3 architectures, and high-frequency trading applications. For EigenDA itself, it further consolidates its technological leadership in the DA layer, especially against the backdrop of competitors like Celestia and Avail continually advancing. This V2 release is expected to bring more integration options for Rollups and developers. For the entire cryptocurrency industry, this means that a modular infrastructure with lower costs and faster responses will push on-chain applications from "verifiable feasibility" to "scalable implementation." Particularly with the Ethereum ecosystem accelerating towards a Rollup-Centric approach, the upgrade of EigenDA will become one of the key underlying components supporting millions of TPS and may also attract renewed capital attention and focus on the DA layer.

CBOE submits a universal listing framework for crypto ETPs, with SOL and XRP ETP expected to launch in Q4.

The Chicago Board Options Exchange (CBOE) has submitted a universal listing standard application for cryptocurrency ETPs (Exchange Traded Products) to the U.S. Securities and Exchange Commission (SEC), marking a further clarification of the compliance path for cryptocurrency trading products in the U.S. stock market. This standard will apply to cryptocurrencies that have been tracked by futures for more than six months in compliant derivatives markets (such as Coinbase Derivatives), covering multiple mainstream coins such as SOL and XRP, and clearly supporting related staking mechanisms. The Solana ETP is expected to be approved by October 10 at the latest, and the XRP ETP will follow in the fourth quarter. Meanwhile, the New York Stock Exchange and Nasdaq may also respond quickly by submitting similar standards.

The universal listing standard proposed by CBOE is seen as a key extension of cryptocurrency compliance following the spot Bitcoin ETF. Unlike the previous single-coin ETF application pathway, this time a standardized process applicable to mainstream crypto assets has been formed through a unified threshold of "tracking futures for six months," significantly reducing approval uncertainty. This is expected to drive the ETP conversion of coins such as SOL and XRP in Q4, and may also pave the way for ETH staking ETPs and the productization of second-tier assets like AVAX and LINK.

Highlight Data

Ethereum ETF reached a record high in capital inflow in July, The Ether Machine increases on-chain response to institutional entry.

The Ether Machine, a treasury strategy company for Ethereum, has recently increased its holdings by approximately 15,000 ETH, bringing its total holdings to 334,757 ETH, ranking among the top on-chain Ethereum treasuries. Based on current prices, this increase is estimated to be worth about $50 million, while it still retains up to $407 million in available funds, demonstrating its long-term capital allocation capabilities and highlighting its strong confidence in Ethereum's medium to long-term performance.

This increase in positions is not an isolated event, but rather a reflection of the current trend of institutions continuously accumulating Ethereum. Since the official launch of the spot Ethereum ETF in 2024, multiple traditional asset management firms (such as BlackRock and Fidelity) have been consistently increasing their allocations. In July 2025, ETF net inflows reached a historical high, with monthly inflows totaling 5.4 billion USD, surpassing the total of the previous 11 months, demonstrating that institutions' consensus on Ethereum as a "blue-chip digital asset" is rapidly solidifying.

Overall, the continuous accumulation behavior of The Ether Machine not only reflects its firm belief in the fundamentals of Ethereum but also directly responds to the major trend of "institutional capital accelerating its layout in Ethereum" on-chain. In the current context where ETFs are driving the transformation of Ethereum's asset attributes, such treasury behaviors are becoming an important signal for the market's assessment of long-term capital flow direction.

Sui TVL has reached a historical high of 2.2 billion USD, with a doubling growth within the year showcasing accelerated expansion of the ecosystem.

According to DefiLlama data, the total value locked (TVL) on the Sui chain has surpassed 2.2 billion USD, an increase of nearly 100% from the year's low, setting a new historical high. This rise began on May 22 after the largest DEX aggregator, Cetus, encountered a contract vulnerability attack, entering an ecological repair phase. The incident caused a loss of over 223 million USD in liquidity pools, but the team quickly paused the protocol and initiated asset recovery and governance reforms. Ultimately, most assets were recovered through community voting, and the protocol shifted towards open-source governance, restoring ecological transparency and market confidence.

The on-chain fundamentals are improving. According to Artemis data, the daily active addresses of Sui quickly rebounded from a post-event low of about 300,000 to 2.6 million, representing a growth of over 130% within the month, reflecting real capital inflow and user return. Meanwhile, SUI has begun to attract the attention of U.S. publicly listed companies. The Nasdaq-listed Lion Group purchased 350,000 SUI for the first time in June and increased its holdings to over 1.01 million in July, with a market value of 4.3 million USD; Everything Blockchain Inc. also announced that it would include SUI in its $10 million cryptocurrency asset portfolio.

Overall, the recent rise of SUI is not driven by short-term speculation, but rather propelled by multiple factors such as improvements in protocol governance, a recovery in on-chain data, and the entry of institutional funds, demonstrating its strong recovery capability and long-term growth potential.

Solana DEX trading volume has dropped nearly 70% from its peak at the beginning of the year, indicating a temporary cooling in ecosystem activity.

According to DefiLlama data, the monthly trading volume of Solana DEX peaked in January 2025, exceeding $260 billion, but has since continued to decline, dropping nearly 70% from its peak as of July. This round of adjustment is mainly due to the retreat of meme coins and speculation that drove high-frequency trading on the Solana chain at the beginning of the year, resulting in a significant decrease in short-term capital and high-frequency robot activity in the market. In addition, cross-chain funds have begun to flow back to the Ethereum ecosystem, influenced by the continuous capital inflow into Ethereum spot ETFs, with hotspots such as Layer 2 and re-staking agreements diverting a large amount of trading volume, leading to a temporary cooling of DEX activity on Solana.

Nevertheless, the infrastructure and protocol innovations of the Solana ecosystem remain resilient. Leading DEXs like Raydium and Jupiter still maintain a high market share, and the demand for on-chain staking, MEV profits, and LST-type products continues to grow. The current decline in trading volume is more due to periodic changes in market sentiment rather than a deterioration in the essence of the ecosystem. If new token issuances, DeFi innovations, and ecosystem incentives are restarted, Solana's on-chain liquidity is expected to become active again, and DEX trading volume may regain its upward momentum.

Gate Launchpool

The Launchpool project to watch this week is: ALEO

Aleo is a developer platform for building fully private, scalable, and cost-effective applications. Using zero-knowledge cryptography, Aleo moves smart contract execution off-chain to enable a variety of decentralized applications that are both fully private and capable of scaling to thousands of transactions per second.

Preparation

• Gate account: Register and complete user verification;
• Recharge assets: Ensure that there is enough USDT and ALEO in the account, this Launchpool supports staking of both currencies;

Participate in Staking

• Time window: Starts on July 31, 2025, at 20:00, and ends on August 3, 2025, at 20:00 (UTC+8)
• Steps to operate: First, log in to Gate and enter the 【Launchpool】 page; second, select the ALEO project and click 【Participate Now】; finally, enter the staking amount and confirm to participate.
• Total mining reward: 77,942 ALEO
• Annualized return: 1154.07%

Financing Weekly Report

According to RootData, from July 24 to July 30, 2025, a total of 27 crypto projects announced the completion of financing or mergers and acquisitions, covering various sectors such as Bitcoin finance, Web3 infrastructure, and crypto payments, reflecting the market's ongoing focus on underlying capability building and user application expansion. Below is a brief introduction to the top three projects by financing scale for this week:

Strategy

On July 25, it was announced that the issuance scale of its flexible perpetual preferred stock ($STRC) has been significantly increased from $500 million to $2.521 billion.

The strategy focuses on creating Bitcoin-native financial infrastructure, covering spot asset management, on-chain yield tools, and structured financing products, aiming to provide institutions with more resilient and transparent Bitcoin capital solutions. The issuance of perpetual preferred shares aims to further strengthen the capital structure, enhance leverage efficiency, and expand its financing model in the crypto financial market, highlighting institutional investors' high recognition and confidence in its Bitcoin asset support logic and long-term strategy.

MARA

Announced on July 28 that it has completed the issuance of convertible bonds totaling $950 million, maturing in 2032.

Marathon is one of the largest Bitcoin mining companies in the United States, focusing on building an enterprise-level mining and asset allocation system. This financing not only expands its BTC holdings but also marks its transformation from a "miner" to a "Bitcoin capital manager," strengthening its asset influence and long-term strategic position in the cryptocurrency financial market. The raised funds will primarily be used to purchase more Bitcoin, reinforcing its positioning as a digital asset reserve company.

Round Coin Technology

On July 30, it was announced that a $40 million Series A2 financing was completed, co-led by ZhongAn International, Sequoia China Seed Fund, and others.

Yuanbi Technology focuses on building a new generation of digital asset payment and account infrastructure for global users, dedicated to connecting traditional and crypto finance through compliant stablecoins, an aggregated payment system, and domestic and international wallet networks. This round of financing will be used to expand overseas business layout, technology research and development, and compliance construction, accelerating the establishment of a global Web3 financial services system.

Attention Next Week

Token Unlock

According to data from Tokenomist, the market will see significant unlocks of some important tokens in the next 7 days (2025.7.31 - 2025.8.7). Here are the top 3 situations before the unlock:

• SUI will unlock tokens worth approximately $167 million in the next 7 days, accounting for 1.3% of the circulating supply.
• ENA will unlock approximately $132 million over the next 7 days, accounting for 3.3% of the circulating supply.
• OP will unlock approximately $22.35 million worth of tokens in the next 7 days, accounting for 1.8% of the circulating supply.
  Reference Source

• Gate, https://www.gate.com/trade/BTC_USDT
• Gate, https://www.gate.com/trade/ETH_USDT
• Coinmarketcap, https://coinmarketcap.com/
• Farside Investors, https://farside.co.uk/btc/
• Coinglass, https://www.coinglass.com/LiquidationData
• jin10, https://rili.jin10.com/
• Coinmarketcap, https://coinmarketcap.com/view/stablecoin/
• etherscan, https://etherscan.io/gastracker
• Coingecko, https://www.coingecko.com/en/categories
• X, https://x.com/opensea/status/1950324517978644985
• X, https://x.com/eigen_da/status/1950572491375853759
• X, https://x.com/EricBalchunas/status/1950650033403244602
• X, https://x.com/TheEtherMachine/status/1950681507825070133
• DefiLlama, https://defillama.com/chain/sui
• DefiLlama, https://defillama.com/dexs/chain/solana
• Gate, https://www.gate.com/launchpool/ALEO?pid=351
• Rootdata, https://www.rootdata.com/Fundraising
• Tokenomist, https://tokenomist.ai/

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