Gate Research: Ethereum NFT Weekly Sales Reach $160M | Lending Platform Leverages World ID for Unsecured Crypto Loans

Crypto Market Overview

• BTC (+0.88% | Current Price: 119,228 USDT): After a sharp correction, Bitcoin has stabilized and entered a consolidation phase. Bulls are attempting to regain lost ground, but resistance at 120,000 USDT remains strong. In the short term, BTC is likely to continue ranging between approximately 117,000–120,000 USDT. On July 25, BTC ETFs recorded a net inflow of $130 million in a single day, with BlackRock’s IBIT attracting $92.8 million and Fidelity’s FBTC seeing $10.2 million in inflows—indicating continued institutional accumulation of Bitcoin.
• ETH (+2.53% | Current Price: 3,863 USDT): ETH is in a short-term upward channel, with bullish momentum dominating. The price is approaching a key resistance zone near 3,900 USDT. A successful breakout and hold above this level could open the door for further gains. Support lies in the 3,750–3,800 USDT range. On July 25, ETH ETFs saw a record $452 million net inflow, with BlackRock’s ETHA bringing in $440 million and Fidelity’s FETH contributing $7.3 million.
• Altcoins: Most major altcoins posted moderate gains. The Fear & Greed Index stands at 75 today, remaining in the “Greed” zone, reflecting an overall positive sentiment—but one that may risk overheating.
• Macro: On July 25, the S&P 500 rose 0.40% to 6,388.64 points; the Dow Jones climbed 0.47% to 44,901.92 points; and the Nasdaq increased 0.24% to 21,108.32 points. As of 2:30 AM (UTC) on July 28, spot gold is trading at $3,336 per ounce, down 0.04% in the past 24 hours.

Trending Tokens

VINE (Vine) (+114.79% | Market Cap: $144M)

According to Gate data, VINE is currently priced at $0.14774, marking a 24-hour increase of approximately 114.79%. VINE is a token launched by Vine co-founder Rus on the Solana blockchain, honoring the spirit of unity and creativity. Originally founded in June 2012 and acquired by Twitter (now X) in October that year, Vine was a mobile app that enabled users to share short-form 10-second videos.

Following Elon Musk’s social media post stating, “We will relaunch Vine in an AI form,” VINE saw a swift rebound, briefly surpassing $0.08 and drawing significant market attention. Social media chatter surged, sparking widespread hype. Whale interest followed suit—one whale invested 17,080 SOL to buy in heavily around $0.14. After a post-surge correction to around $0.06, VINE stabilized and resumed its uptrend starting July 26. The price action formed a bullish pattern of higher highs and higher lows, reflecting strong momentum. On July 28, VINE spiked again to hit $0.15010, showcasing robust bullish strength.

ZORA (Zora) ( +16.46% | Market Cap: $290M)

According to Gate data,ZORA is trading at $0.085967 with a 24-hour gain of 16.46%. Zora is an on-chain social protocol enabling decentralized creation, connection, and monetization through Ethereum and Zora Network. Originally an NFT marketplace, Zora provides tools for creators to mint, curate, and collect NFTs.

Since Zora Coin integrated with the Base app, network activity surged dramatically. On-chain contract interactions spiked, while social media buzz further fueled bullish sentiment. Beginning July 26, ZORA entered a strong rally, climbing steadily with rising trading volume, signaling strong capital inflows. The price briefly approached the $0.10 mark—setting a new local high. Although a technical pullback followed, the token is now consolidating around $0.085. The market is currently testing support strength and sentiment sustainability.

NAVX (NAVI Protocol) (+10.36% | Market Cap: $35.76M)

According to Gate data,NAVX is priced at $0.06 with a 24-hour increase of approximately 10.36%. NAVI Protocol is a native liquidity protocol on Sui that enables users to supply assets for yield or borrow flexibly within the Sui ecosystem.

Recent sharp gains in the SUI token have sparked interest in the broader SUI ecosystem. As a top lending protocol on Sui, NAVX gained attention due to its high stablecoin yields (USDC deposit APY exceeding 9.5%) and collaboration with Momentum to expand BTCFi liquidity. These developments catalyzed a sharp price breakout from the $0.045 consolidation zone, with the token rallying past $0.06. This surge was accompanied by heightened trading volume, indicating strong bullish momentum and concentrated buying interest.

Alpha Insights

Ethereum NFTs See Nearly $160M in Sales Over Past 7 Days, Led by CryptoPunks

According to data from CryptoSlam, as of July 27, Ethereum-based NFT sales reached a total of $157.6 million over the past 7 days, reflecting a notable resurgence in market activity. Among the top performers, CryptoPunks led with $35.14 million in sales across 172 transactions. Pudgy Penguins and BAYC followed with $8.36 million and $5.86 million respectively, while Moonbirds showed strong liquidity with $4.72 million in sales from 683 trades—highlighting the growing market for mid-range collections.

This surge in Ethereum NFT activity is driven by two key forces: Renewed demand for blue-chip NFTs like CryptoPunks, where rare item transactions have reactivated interest from high-net-worth collectors. Sustained cultural momentum in the meme sector, which has revived attention toward NFTs as digital cultural assets. Additionally, ETH’s recent price rebound has improved market sentiment and risk appetite, channeling fresh capital into NFT markets. Meanwhile, collections like Pudgy Penguins and Moonbirds have actively expanded through offline events and brand partnerships, reinforcing community engagement and purchase interest—forming a positive feedback loop for their ecosystems.

Succinct Launches Foundation, Possibly Prepping for Token Generation Event

Decentralized prover network Succinct has launched the Succinct Foundation, widely interpreted as a preparatory step toward a future Token Generation Event (TGE). The foundation will act as an independent entity to support the growth of the Succinct Prover Network and broader zero-knowledge (ZK) technology, focusing on infrastructure development, research funding, and ecosystem partnerships to empower next-generation ZK developers.

The Succinct Prover Network coordinates distributed provers to generate scalable proofs for various applications. Its native token PROVE is designed to incentivize prover competition, pay for services, and serve as a core mechanism for securing and governing the network.

The foundation’s launch marks a critical milestone as the project enters a pre-token economy phase. Amid growing competition in the ZK space, Succinct is leveraging a neutral entity to align resources and build community traction. If the upcoming TGE proceeds smoothly, Succinct could emerge as a key component of modular ZK infrastructure—especially in areas like interoperability and lightweight proofs.

Divine Research Issues Unsecured Crypto Loans Using World ID Verification

San Francisco-based lending platform Divine Research has issued over 30,000 unsecured short-term crypto loans since December 2023—allowing users to borrow without traditional collateral. To prevent multi-account fraud and abuse, the firm uses World ID, an iris scan-based identity protocol, to verify borrower uniqueness and improve default risk controls.

Divine Research highlights the growing convergence of on-chain identity and unsecured credit in Web3 finance. By integrating decentralized identity (DID) systems like World ID, the platform not only enhances its risk management capabilities but also takes a meaningful step toward building an on-chain credit framework in crypto.

In a sector long hampered by regulatory caution and trust deficits, this “collateral-free + strong authentication” model may represent a breakthrough in decentralized finance—paving the way for a new era of lightweight, trust-minimized lending within crypto markets.


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
• CoinGecko, https://www.coingecko.com/categories
• CryptoSlam, https://www.cryptoslam.io/blockchains/ethereum
• Succinct, https://blog.succinct.foundation/introducing-the-succinct-foundation/
• Cointelegraph, https://cointelegraph.com/news/divine-research-issues-30000-unbacked-crypto-loans-world-id

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.