Gate Research Institute: Canton Network Receives Strategic Investment | SN Surges Over 90% Against the Trend

Crypto Market Overview

• BTC (-0.87% | Current price 92,345 USDT): After a period of high-level consolidation, BTC turned to a weaker consolidation trend over the past 24 hours. The price was repeatedly blocked and fell back near $93,000, failing to make a valid breakout, while short-term moving averages (MA5, MA10, EMA9) have flattened or even slightly turned down, reflecting a weakening of short-term bullish momentum. The current price is running below multiple short-term moving averages and is approaching the mid-term MA30, indicating the market is gradually transitioning from a strong phase to a consolidation state. Overall trading volume is insufficient, with candlesticks showing small bodies and upper/lower wicks, indicating cautious market sentiment and significantly cooled buying power compared to previous periods.
• ETH (-1.12% | Current price 3,174 USDT): After a sharp correction, ETH has gradually stabilized at a low and formed a clear rebound structure in a short period. The price has returned to the $3,150 range and is testing short-term moving averages to the upside. Short-term moving averages (MA5, MA10) have shown signs of turning upward again, and have provided support during pullbacks, indicating increasing buying strength below. Although the price has not fully distanced itself from MA30, it has returned above it and is gradually widening the gap, showing a rebound trend is forming.
• Altcoins: Most mainstream altcoins saw slight declines, with market sentiment mainly “neutral” or “buy.” The Fear & Greed Index today is 28, still in the fear zone, indicating sentiment remains relatively depressed.
• Macro: On December 4, the S&P 500 Index rose 0.11% to 6,857.12 points; the Dow Jones Index fell 0.07% to 47,850.94 points; the Nasdaq Index rose 0.22% to 23,505.14 points. As of 14:00 AM (UTC+8) on December 5, spot gold is quoted at $4,227 per ounce, up 0.45% in 24 hours.

Hot Token Picks

SN SpaceN (+92.46%, Circulating Market Cap $176M)

According to Gate market data, SN token is currently quoted at $4.13, up about 92.46% in 24 hours. SpaceN is an all-in-one NFT investment management tool. SpaceN automatically tracks users’ NFT trading profits and losses, helping users stay informed about their NFT asset changes. SpaceN aggregates basic information and dynamic updates of NFT projects, allowing users to access valuable NFT project info in one place. SpaceN will become a platform for users to establish self-organized DAOs, enabling users to create their own DAOs and sell their own NFTs.

SN has shown significant volatility expansion and rapid surge in the last 24 hours. After oscillating in a narrow range around $2.2 for an extended period, the price suddenly broke out with high volume in a short time, soaring to over $5, forming a classic “low accumulation → strong breakout” structure. Multiple consecutive large bullish candlesticks during the surge show concentrated capital inflow, accelerating the uptrend.

After hitting the high, SN experienced some pullback and sideways consolidation, but overall it remains in a range clearly higher than before the surge, indicating bullish sentiment still dominates after short-term profit taking. There were several minor spikes intraday, reflecting active capital and market expectation for continued rebound.

PRIME Echelon Prime (+53.71%, Circulating Market Cap $75.31B)

According to Gate market data, PRIME token is currently quoted at $1.34, up about 53.71% in 24 hours. PRIME is an innovative project built around the Web3 ecosystem, aiming to promote the integration of digital assets, gamified applications, and decentralized networks through blockchain technology. The project focuses on providing users with scalable application scenarios and efficient value transfer systems, and attracts developers to participate in ecosystem building through open protocol design.

PRIME has shown an overall oscillating uptrend in the past 24 hours. The price started to rise slowly from around $0.90, with multiple quick surges and pullbacks along the way, but the lows kept moving higher, indicating sustained buying strength. Especially near the morning session, PRIME again broke out with volume, surpassing $1.30 and maintaining a high-level consolidation, with ample short-term momentum. Overall, PRIME is steadily strengthening in the oscillation, the trend is bullish, but volatility is high at the top, so watch the pace of pullbacks.

BOBA Boba Network (+36.88%, Circulating Market Cap $29.55M)

According to Gate market data, BOBA token is currently quoted at $0.05983, up 14.05% in 24 hours. Boba is an Ethereum Layer 2 scaling and enhancement solution developed by the Enya team as a core contributor to the OMG Foundation. Boba is a next-generation Ethereum L2 Optimistic Rollup solution that reduces gas fees, increases transaction throughput, and extends smart contract functionality. Boba offers fast exit liquidity pools driven by the community, reducing Optimistic Rollup exit periods from 7 days to just a few minutes, while providing yield farming opportunities for LPs.

In the past 24 hours, BOBA suddenly broke out of a long-term sideways range with high volume, with the price quickly rising from around $0.044 to near $0.07, showing a strong breakout structure. After a brief spike, there was some volatility and pullback, but overall it remains at a high range, with bulls in control. Overall, this rally is mainly driven by capital inflow and post-breakout sentiment, with short-term strength but increased volatility. Pay attention to the sustainability of high-level consolidation.

Alpha Insights

Canton Network Developer Receives Strategic Investment from Wall Street Giants

Digital Asset (the company behind Canton Network) announced it has received strategic investment from a number of major Wall Street institutions, including BNY, Nasdaq, S&P Global, and iCapital, demonstrating traditional finance’s growing demand for compliant blockchain infrastructure. Canton Network is designed for institutional-level scenarios, supporting the issuance and trading of tokenized bonds, loans, funds, and other real-world assets under compliance and privacy requirements, and is becoming a key underlying network for Wall Street’s push to put assets on-chain.

This investment follows Digital Asset’s $135M financing in June, which also included traditional finance giants such as BNP Paribas, Goldman Sachs, and Citadel Securities. The company stated that Canton Network currently has over 600 institutional participants, further solidifying its position as a core institutional-grade blockchain infrastructure.

XRP Spot ETF Sees 13 Consecutive Days of Net Inflows, Total Approaching $1B Mark

Since its launch on November 14, the spot XRP ETF has continued to attract capital inflow, recording net inflows for 13 consecutive trading days. On December 3, the related fund added $50.27M, bringing cumulative net inflows to $874M, making it one of the fastest-growing crypto asset ETFs and showing that traditional financial markets are rapidly embracing XRP products.

Data shows that on the same day, the total trading volume of these funds reached $31.53M, with evident capital activity. As net inflows continue to rise, the XRP ETF is just a step away from the $1B mark, and its strong performance reflects investors’ growing confidence in XRP as an ETF asset.

JPMorgan: Strategy’s Resilience Will Determine Bitcoin’s Short-Term Trend, Miner Sell Pressure Not the Core Factor

In its latest report, JPMorgan pointed out that Bitcoin’s short-term price direction depends more on whether Strategy (MSTR) can maintain its enterprise value to holdings ratio above 1 and continue to avoid selling Bitcoin, rather than miner sell pressure. Although network hash rate and mining difficulty have dropped recently and miners have been forced to sell due to high costs and low profits, analysts believe this is not the key factor driving the market. The firm further estimates that current Bitcoin production cost is about $90,000, and small changes in electricity prices will significantly affect high-cost miners’ profitability.

The JPMorgan analyst team also stated that their volatility-adjusted Bitcoin vs. gold comparison model still points to a theoretical price of around $170,000 in the next 6 to 12 months. The report emphasized that in the face of price pressure, rising costs, and regulatory factors, the market’s main focus remains on Strategy’s balance sheet performance and whether it will be forced to sell its Bitcoin holdings during volatile cycles.
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/trade/GT_USDT
• Gate, https://www.gate.com/price
• Gate, https://www.gate.com/launchpool/BSU?pid=355
• Defillama, https://defillama.com/revenue/chain/solana
• The block, https://www.theblock.co/post/381442/jpmorgan-strategy-bitcoin-price-outlook
• Coindesk, https://www.coindesk.com/markets/2025/12/04/xrp-etfs-extend-record-inflow-streak-to-13-days-closing-in-on-usd1b-milestone

Disclaimer Cryptocurrency market investment involves high risks. Users are advised to conduct independent research and fully understand the nature of the assets and products before making any investment decisions. Gate does not accept any responsibility for losses or damages caused by such investment decisions.