Gate Research Institute: ESP up over 60% in the past 24 hours | Ethereum RWA market cap surpasses $15 billion

Cryptocurrency Overview

BTC (+2.41% | Current Price 65,768 USDT)

BTC experienced a clear rebound in the past 24 hours from a recent low, with the price rising from around $62,500 to above $65,700. The short-term trend shows a recovery, but overall it remains in a rebound phase after a previous decline. In terms of moving averages, MA5 has crossed above MA10 and is gradually approaching MA30, indicating short-term momentum is improving, but the mid-term trend has not fully reversed. The MACD is below the zero line but has formed a golden cross, with the red momentum bars continuing to grow, suggesting the rebound may persist. Resistance is expected in the $66,800–$68,700 range; if trading volume is insufficient, a pullback to test support at $64,500–$63,800 is possible.

ETH (+3.18% | Current Price 1,910 USDT)

ETH outperformed BTC, rebounding quickly from around $1,800 in the past day and regaining the $1,900 level, indicating strong capital inflow. Moving averages show MA5 and MA10 have turned upward, with the price approaching MA30, signaling a shift from weakness to stability in the short term. The MACD, after a golden cross below the zero line, continues to rise with increasing momentum bars, suggesting the upward move is still strong. If ETH can hold above $1,920, it may test the $1,980–$2,010 range; key support levels are at $1,850 and $1,800.

GT (+1.62% | Current Price 6.90 USDT)

GT has been oscillating upward over the past 24 hours, gradually rising from a low of $6.55, with a relatively mild rebound pace. The MA5 and MA10 remain in a bullish alignment, with the price trading above MA30, indicating a somewhat strong short-term structure but limited overall trend. The MACD near the zero line has formed a golden cross, with a slight increase in red bars, showing tentative bullish testing. Resistance is at the previous highs of $7.10–$7.33; if volume cannot break through, the price may continue to fluctuate within the range. Support is at $6.70–$6.55.

Top Gainers and Losers in the Past 24 Hours

The crypto market has been under pressure, with most major assets weakening. BTC has fallen sharply, dragging down the overall market. ETH has held relatively better but limited in gains, unable to offset the downside pressure from mainstream assets. Overall, funds remain defensive and cautious, with risk appetite shrinking.

Market sentiment shows the fear index has dropped to 11, remaining in the “Extreme Fear” zone, at low levels compared to last week and last month. This indicates market sentiment is still unstable, with selling driven more by emotional and passive risk reduction. Overall, the market is still in a downward phase dominated by emotion, with high volatility and oscillations likely to continue in the short term. A sustained rebound may only occur after fear is fully released and selling pressure diminishes.

ENSO Enso (+41.01%, Circulating Market Cap $56.01 million)

According to Gate data, ENSO is currently priced at $2.7841, up approximately 41.01% in 24 hours. Enso aims to be a cross-chain execution infrastructure, not creating a new blockchain but integrating operations across different chains and protocols into a single, secure execution layer through a unified, deterministic system.

Recently, Enso has partnered with projects like Altura and LayerZero to launch Omnichain Deposits, allowing users to deposit stablecoins directly on Ethereum, Arbitrum, and other chains to receive target assets without traditional cross-chain bridges. This enhances its narrative as a “fragmentation-free execution layer.” The recent surge in ENSO’s price is mainly driven by narrative reinforcement and practical use cases.

ESP Espresso (+68.77%, Circulating Market Cap $88.68 million)

According to Gate data, ESP is currently priced at $0.17404, up 68.77% in 24 hours. Espresso focuses on “unified interaction and composable infrastructure,” aiming to build a low-friction, real-time collaborative execution and settlement layer across multiple applications, markets, and networks.

The sharp rise in ESP reflects market recognition of its infrastructure narrative and recent progress. Use cases like on-chain payroll and instant stablecoin settlement provide tangible scenarios for its “unified interaction layer.”

POWER Power Protocol (+30.62%, Circulating Market Cap $145 million)

According to Gate data, POWER is currently at $0.6858, up about 30.62% in 24 hours. Power Protocol is positioned as a “Web3 incentive layer / economic engine,” aiming to create a foundational economic system connecting user behavior, content consumption, and value distribution within crypto entertainment and on-chain applications.

The recent surge in POWER is mainly driven by funding news and narrative strengthening. The project announced a new funding round led by BITKRAFT Ventures with a $3 million investment, bringing total funding to approximately $15.4 million, boosting market expectations for its long-term development in blockchain gaming and crypto entertainment sectors.

Hot Topics

Ethereum RWA Market Cap Surpasses $15 Billion, On-Chain Real-World Asset Expansion Accelerates

The total market cap of RWA on Ethereum has exceeded $15 billion, up about 200% year-over-year, indicating a shift from native crypto assets to real-world financial assets. Growth mainly comes from tokenized government bonds, money market funds, on-chain loans, and structured notes—low-volatility assets with stable yields that attract institutional and risk-averse investors amid high interest rates and macro uncertainties.

This expansion enhances Ethereum’s asset base for yield and reinforces its role as a financial settlement layer. Traditional institutions are gradually entering through compliant issuance and custody solutions, rapidly increasing asset scale. The combination of RWA with DeFi protocols continues to grow, making it a key source of liquidity and real cash flow on-chain. As regulatory clarity and infrastructure mature, RWA is expected to become a major growth driver connecting traditional finance with on-chain finance within the Ethereum ecosystem.

Ethereum Foundation Launches Treasury Staking to Promote Long-Term Capital Management

On February 24, the Ethereum Foundation announced the start of staking operations for some of its treasury assets, implementing its previously announced treasury management policy. On-chain data shows the foundation deposited 2,016 ETH on that day, with an expected total of around 70,000 ETH to be staked. The staking rewards will flow back into the foundation’s treasury to support long-term ecosystem development and operations.

The staking scheme uses open-source tools Dirk and Vouch developed by Attestant. Dirk is a distributed signing system allowing independent parties from different jurisdictions to jointly manage keys, reducing single points of failure. Vouch employs multi-client strategies to mitigate risks from client centralization. The foundation states its deployment covers minority client options, combined with custody infrastructure and multi-region self-managed hardware to enhance robustness and decentralization.

Gate Maintains Top Three Global Spot Market Share, Fourth in Derivatives

According to CoinDesk’s latest exchange review, Gate ranked third in global spot market share and fourth in derivatives in January. The month’s spot trading volume reached $74.4 billion, up 11.1% month-over-month, placing it among the top three in AA–A rated exchanges, accounting for about 50.2% of total trading volume with major platforms. In derivatives, Gate’s market share was 11.2%, with open interest ranking in the top three retail exchanges, representing 10.1%, reflecting ongoing strength in market activity and liquidity capacity.

In terms of products and technology, Gate’s TradFi trading volume exceeded $70 billion, with a peak of over $10 billion in a single day. The platform has officially launched its web version after beta testing, supporting multi-terminal access. Users can trade forex, stocks, and precious metals with USDT margin under a unified account system, integrated with MT5 for cross-asset margin management. Additionally, Gate has launched GateAI with natural language trading features, enabling commands for spot and wealth management operations, further integrating AI analysis with multi-terminal trading.

**References:** - Gate, [https://www.gate.com/trade/BTC_USDT](https://www.gate.com/trade/BTC_USDT) - Farside Investors, [https://farside.co.uk/btc/](https://farside.co.uk/btc/) - Gate, [https://www.gate.com/trade/ETH_USDT](https://www.gate.com/trade/ETH_USDT) - Farside Investors, [https://farside.co.uk/eth/](https://farside.co.uk/eth/) - Gate, [https://www.gate.com/crypto-market-data](https://www.gate.com/crypto-market-data) - Investing, [https://investing.com/indices/usa-indices](https://investing.com/indices/usa-indices) - Investing, [https://investing.com/currencies/xau-usd](https://investing.com/currencies/xau-usd) - CoinGecko, [https://www.coingecko.com/en/cryptocurrency-heatmap](https://www.coingecko.com/en/cryptocurrency-heatmap) - X, [https://x.com/ethereumfndn/status/2026218289928556625?s=20](https://x.com/ethereumfndn/status/2026218289928556625?s=20) - X, [https://x.com/Cointelegraph/status/2026190532989386841?s=20](https://x.com/Cointelegraph/status/2026190532989386841?s=20)
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