Gate Ventures

Gate Ventures Vision 2026 is here. We outline five frontier forces shaping the convergence of Web3 & AI — from real-time onchain intelligence and borderless payment & FX rails, to machine-native finance, institutional meta-yield systems, and crypto miners evolving into AI compute & energy providers. 2026 marks a structural inflection point as Web3 becomes the coordination layer for the AI-driven economy. 🔗 Full outlook: @gate_ventures/gate-ventures-vision-2026-five-frontier-forces-reshaping-the-global-flow-of-value-compute-and-a1e95880d103" target="_blank" rel="nofollow noopener">medium.com/@gate_ventures…

Gate Ventures研究洞察：DeFi 进入 2.0，Curator 策略中间层崛起、RWA 成为新底层资产 DeFi 正在迈入全新的发展阶段。 从早期以流动性挖矿驱动的增长模式，逐步转向以资本效率与真实收益为核心，DeFi 2.0 正在重塑链上金融的底层运行逻辑。 这篇文章，我们聊了几个关键变化： • 为什么「资本效率」正在成为新一轮竞争的核心战场 • 激励机制如何从短期补贴，演进为长期价值对齐 • Curator Strategy Layer 为什么正在崛起为关键的资产配置与协调中枢 • RWA（真实世界资产）如何逐步成为链上金融的新一代底层资产类别 我们正处在一个关键转折点，DeFi 不再只是追求高 APY 的资本游戏，而是走向更加可持续、更加接近传统金融效率标准的体系重构。 未来的 DeFi，将由三大核心驱动： 真实收益（Real Yield）、高效资本配置（Capital Efficiency）、以及可持续的机制设计（Sustainable Design） 阅读全文：gate.com/zh/learn/artic…

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Gate Ventures Insights: DeFi 2.0 — Curator Strategy Layers Rise as RWA Emerges as a New Foundational Asset DeFi is entering its next phase. From fixing liquidity inefficiencies to unlocking real-world assets, DeFi 2.0 is reshaping the foundation of on-chain finance. In this article, we break down: • Why capital efficiency is becoming the core battleground • How incentive models are evolving toward long-term alignment • Why curator layers are emerging as a new coordination layer • How RWA is becoming the next foundational asset class The next phase of DeFi will be driven by real yield, efficient capital, and sustainable design. Read the full insights: @gate_ventures/gate-ventures-insights-defi-2-0-69d62be5339c" target="_blank" rel="nofollow noopener">medium.com/@gate_ventures…

#5 More specifically, holders in the 6–12 month and 12–18 month cohorts are currently sitting on the largest unrealized losses among all wallet age groups, with an average cost basis of roughly $90K–$100K. Source: @CryptoQuant

#4 Next, comparing BTC holders by holding period, the LTH SOPR (>155 days) has fallen below the STH SOPR (<155 days). A year ago, long-term holders were realizing profits at more than 2x the level of short-term holders, but that relationship has now reversed, with LTH SOPR slipping below 1. This is the lowest reading since July 2023, when BTC was trading around $23K. This suggests that short-term holders are currently realizing more profit than long-term holders. Source: @CryptoQuant

$BTC has rebounded from its ~$60K lows. Here’s what on-chain data is saying: MVRV is now around 1.2, while true cyclical bottoms have typically formed when MVRV drops below 1.0. That suggests BTC may be getting close to a “max pain” zone, but it likely hasn’t fully reached the point of broad capitulation yet. In the past three times when MVRV dropped below 1.0, BTC soon bounced strongly and started a new upward move. Source: @CryptoQuant

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#GateVentures Weekly Highlights ・ @HSBC, Standard Chartered tipped for first Hong Kong stablecoin licenses. ・ @BlackRock launches staked Ethereum ETF offering ETH exposure and yield ・ @cryptio_co raises $45M Series B to support enterprise digital asset accounting ・ MetaComp raises $35M Pre-A funding to expand regulated Web2.5 payments. Read the full recap: @gate_ventures/gate-ventures-weekly-crypto-recap-march-16-2026-1537e0cc498e" target="_blank" rel="nofollow noopener">medium.com/@gate_ventures…

#4 While technologies like Channel Factories and Ark demonstrate superior capital efficiency, what remains the biggest hurdle for Bitcoin L2 mass adoption: UX, liquidity fragmentation, or technical complexity? Which scaling solution do you believe will emerge as the ultimate winner? Let’s discuss below.

#3 This architectural innovation not only drastically reduces on-chain transaction fee burdens but also addresses Lightning Network's reliance on individual payment channels. With instant, low-cost, and high-throughput settlement capabilities, Bitcoin is set to become the most robust value settlement layer for Web3.

Bitcoin is undergoing a profound "paradigm shift," evolving from a mere "Store of Value" into a versatile and "Scalable Infrastructure Layer". This marks a structural change in asset pricing logic, positioning Bitcoin firmly within the global "Big Finance + Big Tech" narrative. Source: Fidelity Digital Assets Research via Bloomberg, 12/15/25

While USDC adoption and stablecoin demand continue to grow, there are still several structural factors worth considering for Circle’s equity. #1 / A large portion of USDC economics flows to Coinbase. With the key contract renewal coming up, negotiation outcomes could materially impact Circle’s profitability. #2 / Circle’s reserve yield benefited from the high-rate environment. A Fed easing and interest rate cut cycle could compress Circle’s earnings. #3 / The upcoming CLARITY Act and stablecoin rules may reshape revenue models (e.g., interest distribution), potentially affecting Circle and its partners.

Agentic payments remain one of Circle’s key focus areas. While the narrative is less hyped than it was in Nov ’25, product development continues to progress. One recent example is USDC nanopayments for agents, designed for machine-to-machine payments at scale, with gas-free transfers as small as $0.000001. The broader point: agentic commerce requires payment rails built for sub-cent, real-time, programmable transactions. Traditional payment systems, and even standard on-chain flows are not well suited for that. Circle is exploring how USDC could support this emerging payment model. x.com/circle/status/… Source: @artemis

Circle rallied ~35% after its Q4 earnings, with underlying fundamentals also showing strong momentum. As key metrics such as total revenue, USDC in circulation, and USDC on-chain transaction volume all trending higher, this looks like a timely moment to take a closer look at Circle’s fundamentals again. First, while USDT may lead in P2P txs volume, USDC shows higher velocity in overall txs volume across broader use cases like DeFi, DEX trading, and other on-chain activity. This divergence became even more pronounced in Q1 '25, when USDC’s overall txs volume reached ~5x that of USDT, reinforcing its role as a more utility-driven stablecoin. Source: @artemis