Crypto Market Overview

• BTC (-2.37% | Current Price: 113,003 USDT): BTC remains in a downward consolidation trend, with moving averages showing a clear bearish alignment, indicating continued short-term weakness. The MACD indicator shows both signal lines trending lower, maintaining a bearish outlook. Trading volume has not picked up significantly, suggesting limited rebound momentum. Overall, BTC remains structurally weak in the short term. Key levels to watch are support at 112,500 USDT and resistance near 114,000 USDT.
• ETH (-4.26% | Current Price: 4,111 USDT): ETH also showed notable weakness, trading below its short-term moving averages, signaling that the downtrend remains intact. The MACD continues to reflect bearish momentum, with no bullish crossover yet in sight. Trading volume remains moderate to low, indicating subdued buying interest.
• Altcoins: The broader market experienced a pullback, with most major altcoins declining. The Fear & Greed Index dropped to 44, indicating rising caution and a potential continuation of short-term choppy conditions as investor sentiment weakens.
• Macro: On August 19, the S&P 500 fell 0.59% to 6,411.37; the Dow Jones edged up 0.023% to 44,922.27; and the Nasdaq dropped 1.46% to 21,314.95. As of 10:15 AM (UTC+8) on August 20, spot gold was trading at $3,315 per ounce, up 0.01% over the past 24 hours.

Trending Tokens

MNT Mantle（+6.21%, Circulating Market Cap: $4.539 Billion)

According to Gate market data, the MNT token is currently priced at $1.3555, with a 24-hour gain of approximately 6.21%. Mantle is a modular blockchain ecosystem supported by Layer 2 infrastructure, aiming to bridge liquidity between DeFi and CeFi. Its native token, MNT, serves multiple functions including governance, gas payments, staking, and ecosystem incentives. The Mantle economic model continuously optimizes token circulation and utility.

The recent price increase in MNT is likely driven by multiple ecosystem catalysts, including the upcoming launch of perpetual contracts, improved collateral efficiency across various lending platforms, and a $250,000 puzzle-based campaign that has boosted community engagement—helping MNT show relative strength despite broader market pullbacks.

LDO Lido DAO Token（+0.79%, Circulating Market Cap: $1.159 Billion)

According to Gate market data, LDO is trading at $1.2925, up approximately 0.79% in the last 24 hours. Lido is the largest liquid staking protocol in the Ethereum ecosystem, allowing users to stake ETH for PoS validation while receiving stETH in return—enabling both liquidity and staking rewards. The native LDO token is used for governance, voting on proposals, and distributing ecosystem incentives.

LDO’s recent upward movement is supported by several positive developments: the TVL of stETH across multiple chains has surpassed $1 billion, reflecting growing demand for liquid staking. Additionally, Lido has released an institutional staking framework and continues to push forward with upgrades like Distributed Validator Technology (DVT) and decentralized governance enhancements—reinforcing its dominance in the Ethereum staking landscape.

MORPHO Morpho Labs（+2.50%, Circulating Market Cap: $667 Million)

According to Gate market data, MORPHO token is currently priced at $2.0359, with a 24-hour increase of 2.50%. Morpho is a DeFi protocol focused on improving on-chain lending efficiency through a hybrid Peer-to-Pool and Peer-to-Peer model. Its native token, MORPHO, is used for governance, ecosystem incentives, and protocol development.

Recent gains in MORPHO may be attributed to multiple ecosystem advancements, including integration with Ledger Live (offering up to 7.5% on-chain yield), the launch of multi-asset yield vaults in partnership with Bitpanda, and the introduction of institutional-grade risk-adjusted returns through collaboration with Gauntlet. Ongoing UX improvements have also helped increase visibility and user engagement.

Alpha Insights

Wyoming Launches FRNT Stablecoin, Pioneering State-Issued Digital Currency in the U.S.

The U.S. state of Wyoming has officially launched the Frontier Stable Token (FRNT), becoming the first state-level government entity in the country to issue its own stablecoin. Backed by U.S. dollars and short-term Treasury bonds, FRNT emphasizes high transparency and fiat-pegged stability. It is currently deployed across seven major blockchains—Ethereum, Solana, Arbitrum, Avalanche, Polygon, Optimism, and Base—demonstrating a bold ambition for cross-chain integration and ecosystem compatibility.

However, due to the lack of clear federal-level regulatory frameworks, FRNT is not yet available to the public and is currently limited to specific institutional and use-case scenarios.

The launch of FRNT marks a new frontier in crypto finance for state governments, highlighting how U.S. local governments are increasingly asserting autonomy in digital asset policymaking. Wyoming has long been one of the most crypto-friendly states in the U.S., and this move may serve as a key case study for “public sector-issued stablecoins.” If federal regulatory clarity improves in the future, FRNT could play a meaningful role in applications such as payments, settlements, and public accounts—and potentially become a model for other states to follow.

Solana Leads Global Blockchain Networks in Fee Stability, Tops FSR Ranking

According to the latest Fee Stability Ratio (FSR) report from DeFi Development Corp., Solana ranks No.1 globally with an FSR score of 160.74—making it the most stable and cost-effective blockchain network for transaction fees. The FSR is calculated as “1 ÷ (median transaction fee × fee volatility),” where a higher value indicates cheaper and more stable fees, benefiting both users and dApp developers. Solana boasts a median fee of just $0.0012 with extremely low volatility, ensuring long-term viability for high-frequency applications.

By comparison, Ethereum, despite being a major Layer 1 chain, ranks last with an FSR of just 0.15 due to high and unstable gas fees.

Other notable performers include Polygon (FSR 102.09) and OP Mainnet (46.55), which also offer strong low-cost advantages. Avalanche and Arbitrum, while offering relatively cheap fees, score lower due to higher volatility. Tron, with high fees around $4.77 but low volatility, only earns 0.68 points.

The FSR ranking underscores that low and predictable transaction fees are critical to scaling on-chain applications. Solana’s strong performance not only reflects its technical efficiency but also positions it as ideal infrastructure for DePIN, blockchain gaming, and payment applications that demand high transaction throughput.

1inch Integrates Native Cross-Chain Swaps Between Solana and EVM Networks, Redefining UX and Security

Decentralized exchange aggregator 1inch has introduced a major upgrade: native cross-chain asset swaps between Solana and multiple EVM-compatible chains such as Ethereum and Polygon—without relying on traditional cross-chain bridges.

Users can now swap assets directly across chains without additional bridging steps, significantly reducing operational complexity and transfer friction. The new feature is integrated into the 1inch dApp, mobile wallet, and Fusion+ API, and includes built-in protection against MEV (Maximal Extractable Value) attacks to reduce risks from frontrunning.

Traditional cross-chain bridges have frequently been exploited due to technical vulnerabilities, resulting in massive losses. 1inch’s “native swap” approach bypasses these bridge-related risks, enhancing user asset security and improving liquidity flow between the Solana and Ethereum ecosystems.

The feature can be integrated by developers into new projects, while regular users can access it via mobile or web interfaces. 1inch also plans to expand support to more blockchain networks in the future, aiming to enhance cross-chain interoperability and asset efficiency at a higher level.


References

• 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
• X, https://x.com/EleanorTerrett/status/1957763504435524055
• X, https://x.com/defidevcorp/status/1957791134748668384
• The Block, https://www.theblock.co/post/367406/1inch-launches-native-swaps-between-solana-and-evm-chains

Gate Research is a comprehensive blockchain and cryptocurrency research platform that provides deep content for readers, including technical analysis, market insights, industry research, trend forecasting, and macroeconomic policy analysis.

Disclaimer
Investing in cryptocurrency markets involves high risk. Users are advised to conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such decisions.