Gate Research Institute Daily Report: On September 9, the price of BTC reached a high of $112,800 after a period of fluctuating upward movement; ETH briefly surged to around $4,374 before encountering resistance and retreating. The current price of MYX token is $12.82, having increased by approximately 238.71% in 24 hours; the current price of WLD token is $1.73, with a 24-hour increase of about 50.66%; Grayscale plans to apply for the first Chainlink ETF.
BTC (0.41% | Current Price 111,184 USDT): After a period of fluctuating upward movement, the price of BTC briefly reached a high of $112,800, then retreated and is currently around $111,000. The upward movement followed by a retreat indicates that selling pressure remains heavy above, and if it cannot quickly recover above $111,600 in the short term, the market may continue to face downward pressure, with attention needed on whether the support at $110,700 can hold. On September 8, the net inflow for BTC ETF reached $25.5 million in a single day, with BlackRock's IBIT and Fidelity's FBTC seeing inflows of $156 million, indicating that institutional funds are continuously increasing their positions in Bitcoin, enhancing their allocation weight for this asset.
ETH (0.01% | Current Price 4,283 USDT): After a period of consolidation, the price of ETH briefly surged to around $4,374, setting an intraday high, but then encountered resistance and has retreated to around $4,275. Selling pressure is evident above, and if it cannot stabilize above the $4,320 mark in the short term, the market may continue to weaken, with attention needed on whether the support at $4,260 can hold. On September 8, the ETH ETF saw a net outflow of $96.7 million in a single day, with BlackRock's ETHA seeing an outflow of $192 million, while Fidelity's FETH saw an inflow of $752 billion.
Altcoins: Most mainstream altcoins have maintained slight increases, with market sentiment primarily "neutral" or "buy." The Fear and Greed Index reported 48 today, still within the normal range, showing a slight decline from yesterday.
Macro: On September 8, the S&P 500 index rose by 0.21%, closing at 6,495.15 points; the Dow Jones index rose by 0.25%, closing at 45,514.95 points; the Nasdaq index rose by 0.45%, closing at 21,798.70 points. As of September 9, 10:50 AM (UTC+8), the spot price of gold is reported at $3,654 per ounce, with a 24-hour increase of 0.45%.
According to Gate market data, the current price of MYX token is $12.82, having increased by approximately 238.71% in 24 hours. The launch of this protocol aims to reduce the capital costs of providing liquidity, eliminate network-related barriers for traders, and simplify the trading process, making advanced derivatives as easily accessible as spot swaps.
Yesterday, MYX experienced a surge primarily due to multiple positive news releases. Firstly, the project team announced the upcoming launch of the V2 upgrade, which includes zero slippage trading and cross-chain support, significantly enhancing liquidity and market attention, attracting a large influx of funds. Secondly, the rapid price increase triggered a short squeeze, with a large number of short positions being forcibly liquidated in a short time, further driving concentrated buying pressure and accelerating the price increase. Additionally, trading volume and perpetual contract open interest surged significantly in a short time, indicating heightened speculative sentiment in the market, but also raising some concerns about market manipulation, especially against the backdrop of a large number of token unlocks approaching.
According to Gate market data, the current price of OPEN token is $1.42, having increased by 155.51% in 24 hours. OpenLedger is an artificial intelligence blockchain aimed at releasing liquidity and monetizing data, models, applications, and agents. It supports the training, deployment, and on-chain tracking of professional AI models and data, addressing key challenges in transparency, attribution, and verifiability in the AI field.
The reason for this round of price increase is the project's announcement of a large-scale airdrop event for early users, which quickly ignited market enthusiasm and led to a rapid influx of funds. At the same time, OPEN has added support scenarios on multiple platforms, covering various application modules such as wealth management, trading, leverage, and derivatives, significantly enhancing the token's liquidity and practical use value. This not only expands investors' imagination for its future ecological development but also provides positive expectations for the token's medium- to long-term growth. Under the influence of dual positive factors, concentrated buying pressure in the market led to a rapid price increase.
According to Gate market data, the current price of WLD token is $1.73, having increased by approximately 50.66% in 24 hours. Worldcoin (WLD) is a crypto project led by OpenAI co-founder Sam Altman, with the core idea of establishing a unique digital identity (World ID) for global users through "iris recognition + cryptocurrency," along with distributing WLD tokens as incentives. The aim is to help everyone enter the global economy.
The recent increase in WLD's price is primarily due to Eightco Holdings launching the first Worldcoin fiscal reserve strategy and completing a $250 million private placement. This move not only received support from well-known institutions such as Discovery Capital and Pantera but also attracted a $20 million investment from BitMine, marking WLD's gradual entry into the institutional asset allocation landscape. The funds will be used to purchase WLD, supplemented by Ethereum and cash as reserves, thereby establishing a new paradigm in digital asset financial management. Following the announcement, WLD's trading volume surged nearly 400% within 24 hours, and the price skyrocketed over 50%, attracting significant attention.
On September 8, 2025, Grayscale submitted an application to the Securities and Exchange Commission (SEC) to convert its existing Chainlink Trust into a spot exchange-traded fund (ETF), with the proposed trading code GLNK. If approved, this fund will trade on the New York Stock Exchange Arca, becoming the first crypto ETF linked to Chainlink. According to the documents, the GLNK ETF will handle the creation and redemption of shares in cash and may introduce staking features, with LINK tokens being held by third-party service providers to earn staking rewards. In the future, these rewards can be retained, distributed to shareholders, or used to pay fees, providing potential additional returns for investors.
Currently, Grayscale Chainlink Trust manages approximately $29 million in assets, held by Coinbase Custody Trust Company. This application is part of Grayscale's strategy to promote the conversion of various single crypto trusts into ETFs, with other pending products including Solana, Dogecoin, and XRP. Following the news, LINK token rose by approximately 3% within 24 hours, and other mainstream altcoins such as XRP, SOL, and DOGE also generally increased. If the GLNK ETF is approved, it will provide traditional investors with a compliant channel to participate in the Chainlink ecosystem and may become the first innovative product among U.S. crypto ETFs to include staking rewards.
U.S. publicly listed company CleanCore Solutions (ZONE) announced that it has purchased 285.4 million Dogecoins, valued at approximately $68 million, and has partnered with the House of Doge under the Dogecoin Foundation to officially establish a dedicated treasury. The company revealed that it will continue to increase its holdings over the next month, aiming for a total holding of 1 billion coins, thereby becoming one of the largest corporate treasury holders of Dogecoin globally.
This news quickly ignited market sentiment. CleanCore's stock price closed at $3.51 on Monday and surged 40% in after-hours trading, raising its market capitalization to approximately $500 million. At the same time, Dogecoin (DOGE) also strengthened, with its price rising about 7% to $0.24, and its total market capitalization exceeding $36 billion, firmly ranking seventh in the cryptocurrency market capitalization leaderboard.
On September 8, 2025, Kazakhstan's President Kassym-Jomart Tokayev announced in his annual state address that he would promote a series of economic and financial reforms to accelerate the construction of the national digital asset ecosystem and attract high-tech investments. He proposed a plan to establish a technology investment project with a scale of up to $1 billion, aimed at promoting technological innovation and industrial upgrading.
Digital transformation was also a key focus of the speech. Tokayev proposed establishing a National Digital Asset Fund under the framework of the National Bank Investment Company to accumulate strategic digital asset reserves such as cryptocurrencies. At the same time, he emphasized the need to strengthen cybersecurity during the development process to address the rising threats of cyber fraud and financial crime.
Related: Kazakhstan President Calls for Establishing National Crypto Reserves and Formulating Digital Asset Laws by 2026
Original: “MYX Surges Over 230% | Grayscale Applies for First Chainlink ETF”
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