Gate Research Institute: Ethereum DEX volume hits a new high in August | Bonk.fun becomes the official Launchpad for USD1

Crypto Market Overview

• BTC (-0.83% | Current Price 108,196 USDT): BTC recently experienced a rapid decline after being blocked at a high of 113,469 USD, briefly falling below 108,000 USD and reaching a low of 107,350 USD. Technically, key support at 107,000 USD and resistance at 109,000 USD need to be closely monitored. If trading volume cannot be maintained, BTC still faces the risk of further declines. On August 29, the BTC ETF saw a net outflow of 126 million USD in a single day, with BlackRock's IBIT inflowing 24.6 million USD and Fidelity's FBTC outflowing 66.2 million USD.
• ETH (-0.78% | Current Price 4,419 USDT): ETH price faced pressure and fell back after reaching a high of 4,646 USD, dipping to a low of 4,257 USD, and then found support in that range and began to rebound. Short-term focus needs to be on the support at 4,360 USD and resistance at 4,500 USD, as the oscillation and consolidation pattern has not yet been broken. On August 29, ETH ETF saw a net outflow of 164 million USD in a single day, with Fidelity's FETH inflow of 51 million USD.
• Altcoins: Most mainstream altcoins have slightly declined, with market sentiment being "neutral". The Fear and Greed Index reports 46 today, which is in the panic zone, indicating that market sentiment has significantly cooled compared to before.
• Macro: On August 29, the S&P 500 Index fell by 0.64%, closing at 6,460.26 points; the Dow Jones Index dropped by 0.20%, closing at 45,544.88 points; the Nasdaq Index decreased by 1.15%, closing at 21,455.55 points. As of September 1, 10:00 AM ( UTC+8), the spot gold price per ounce is reported at 3,456 USD, with a 24H increase of 0.23%.

Popular Tokens on Juejin

BRIC Redbrick (+77.24%, circulating market value 4.3079 million USD)

According to Gate.io market data, the current price of BRIC token is $0.017, up 77.24% in the last 24 hours. Redbrick is an AI-driven Web3 content and game creation platform that aims to lower the development threshold by utilizing artificial intelligence and blockchain technology, enabling users to quickly create, publish, and monetize games and applications.

Recently, Redbrick has attracted market attention due to the launch of a new exchange and the initiation of an airdrop event. At the same time, its AI engine is about to undergo a synchronous upgrade, further enhancing the platform's application prospects in the AI+Web3 gaming track, which has become the main reason for the significant increase in BRIC token prices.

MDT Measurable Data Token (+11.93%, circulating market cap 16.7847 million USD)

According to Gate.io market data, the current price of MDT token is $0.028, with an increase of approximately 11.93% in the last 24 hours. MDT (Measurable Data Token) is a blockchain-based utility token that supports a decentralized data exchange ecosystem, aimed at achieving secure anonymous data sharing and monetization between users, data providers, and data buyers.

The main driving force behind this round of price increase comes from its latest cooperation progress. Measurable announced a partnership with MaidenCentury, and its IDEA platform now allows direct access to detailed transaction electronic receipt data supported by MDT users, particularly covering emerging markets. Preliminary data shows that this type of data effectively fills the expenditure gap of food delivery platforms like Uber, Grab, and Zomato in markets outside the United States and the European Union, and demonstrates significant advantages in tracking the international revenue of multinational companies like McDonald's. The implementation of this application scenario enhances the practical value support of MDT, becoming an important impetus for the price increase.

MITO Mitosis (+9.39%, circulating market value 45.81 million USD)

According to Gate's market data, the current price of the MITO token is $0.244, with an increase of about 9.39% in the last 24 hours. Mitosis is a liquidity protocol designed for the modular era, aiming to redefine cross-chain liquidity by enhancing the liquidity and yield attractiveness of cross-chain LPs, thereby promoting the development of the entire modular ecosystem. MITO, as the native governance token, can be used for liquidity aggregation, voting on fund direction, and providing staking rewards to users.

The main driving force behind this round of price increase comes from the official launch of the mainnet and dApps, coupled with the liquidity boost from recently listing on new exchanges, which has significantly enhanced market attention and buying momentum for MITO. The practical application of the protocol and the expansion effect of exchanges have jointly pushed up the token price.

Alpha Interpretation

In August, the DEX trading volume on the Ethereum chain exceeded $140.1 billion, setting a record for the highest monthly volume in history.

According to data from DefiLlama, in August 2025, the monthly trading volume of decentralized exchanges (DEX) on the Ethereum network exceeded $140.1 billion, setting a new historical record. At the same time, the number of active addresses reached 16.77 million, also marking a new monthly high. Ethereum's current TVL is reported at $92.58 billion, still about 17% away from the peak of $108.8 billion at the end of the 2021 bull market.

Ethereum set new records in DEX trading volume and active addresses in August, indicating that its ecosystem activity and capital liquidity are rapidly rebounding. Although TVL has not fully recovered to bull market highs, the record-breaking trading volume shows that capital utilization efficiency is improving, and users are more inclined towards high-frequency trading and liquidity usage, rather than just simple locking. This structure of "trading activity > TVL recovery" highlights Ethereum's core position in the DeFi market and suggests that as L2 networks and emerging protocols accelerate their expansion, there is still room for further breakthroughs in on-chain financial activities on the Ethereum network.

Bonk.fun has reached a partnership with WLFI, becoming the official USD1 Launchpad platform on Solana.

The Solana ecosystem Launchpad platform Bonk.fun announced on platform X that it has reached a collaboration with the cryptocurrency project WLFI associated with the Trump family, officially becoming the official Launchpad platform for the stablecoin USD1 on the Solana network. Regarding the specific details of the launch and the significance behind the collaboration, the official statement will be released later.

The collaboration between Bonk.fun and WLFI will introduce the USD1 stablecoin into the issuance and promotion phase of the Solana ecosystem, which means that Solana is further strengthening its layout in stablecoins and the application layer. If USD1 can quickly land with the help of Bonk.fun's traffic and ecological resources, it will help expand the usage scenarios of stablecoins in Solana and enhance liquidity. From a strategic perspective, such collaborations not only enhance Solana's financial infrastructure but may also drive a secondary prosperity of ecological applications. However, at the same time, the compliance, market acceptance, and subsequent circulation scale of the USD1 project still need continuous observation.

Japan Post Bank plans to launch a digital currency in 2026 and support blockchain product transactions.

Japan Post Bank plans to launch its own digital currency in 2026 and explore the use of this digital currency for trading blockchain-derived financial products, including security tokens and NFTs. As one of Japan's largest financial institutions, this move could become an important milestone in the integration of blockchain and traditional finance in the Japanese banking industry.

The digital currency plan of Japan Post Bank sends a strong signal: Japan's financial system is gradually moving towards digital assets and blockchain finance. Unlike private stablecoins or Web3 projects, such digital currency projects led by large banks are more compliant and credible, with the potential to provide more robust settlement and trading channels for emerging assets such as security tokens and NFTs. If successfully implemented, it will have a profound impact on the compliance and scalability of the Japanese digital asset market, and may accelerate the digital transformation of financial products. However, it is also necessary to pay attention to its relationship with central bank digital currencies (CBDC) in terms of positioning and function, as well as how to balance innovation and regulation within the compliance framework.
Reference:

• Gate, https://www.gate.com/trade/BTC_USDT
• Farside Investors, https://farside.co.uk/btc/
• Gate, https://www.gate.com/trade/ETH_USDT
• Farside Investors, https://farside.co.uk/eth/
• Gate, https://www.gate.com/crypto-market-data
• Investing, https://investing.com/indices/usa-indices
• Investing, https://investing.com/currencies/xau-usd
• CoinGecko, https://www.coingecko.com/categories
• DefiLlama, https://defillama.com/chain/ethereum?activeAddresses=false&tvl=false&groupBy=monthly&dexsVolume=true
• X, https://x.com/bonk_fun/status/1962350097330503828
• X, https://x.com/zoomerfied/status/1962176764383297741

Disclaimer Investing in the cryptocurrency market involves high risks. 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 does not accept any responsibility for any losses or damages arising from such investment decisions.