Gate Ventures: Market sentiment marginally improved, institutional blockchain applications continue to advance

According to the latest weekly report from Gate Ventures, global risk assets have shown signs of recovery driven by improved earnings reports from large tech companies and a rebound in market sentiment. BTC rose 1.5% over the week, and ETH rose 3.6%, but the total market capitalization of cryptocurrencies still declined by 2.4%, with market sentiment remaining in the "fear" zone. In terms of capital flow, the spot BTC ETF saw a net outflow of $61.5 million in a single week, while the spot ETH ETF had a net inflow of $9 million, indicating a continued divergence in capital flow. Meanwhile, STRC under Strategy has traded below par for the tenth consecutive week, with its price rising to about $89, as the market continues to pay attention to its dividend policy and capital operation progress.

In terms of industry development, institutional blockchain applications and financial infrastructure construction are continuing to advance. Bank of New York Mellon (BNY) is migrating approximately $8.6 trillion in transfer agent records on-chain, promoting blockchain management of fund ownership and transaction records; several European financial institutions have jointly launched the RL1 blockchain network to further explore applications such as tokenized assets, digital currencies, and on-chain settlement. In terms of investment and financing, a total of 6 financing transactions were completed last week, with a disclosed total financing amount of $23.5 million, among which the infrastructure sector had the highest financing scale, indicating that market funds are still focused on on-chain financial infrastructure and RWA-related construction. Overall, while short-term market sentiment has improved, institutional-level blockchain infrastructure and tokenized finance remain important areas of ongoing interest in the industry.