On August 27, the cryptocurrency market experienced a volatile rebound, with mainstream coins generally rising. Google Cloud launched the financial-grade L1 chain GCUL, laying out a new standard for financial infrastructure; Aave's TVL reached a historic high, closely approaching the top 50 commercial banks in the U.S. as a leader in DeFi, demonstrating the increasing potential of on-chain financial alternatives. In terms of popular tokens, IP rose by 10.82%, AURORA increased by 69.12%, and NMR surged by 134.25%, benefiting from AI creation, ecological proposals, and institutional support, respectively.
BTC (+0.14% | Current price: 111,449 USDT): BTC is currently in a phase of volatile bottoming, with the short-term moving average returning above MA30, indicating that the price is stabilizing in the short term but has not yet formed a clear reversal structure. In terms of the MACD indicator, the dual lines have crossed upwards, with the histogram continuing to expand, although momentum appears to be slightly slowing. Trading volume has not significantly increased, indicating that the current rebound is still a mild correction. If it can hold above 111,000, it may challenge the previous high around 112,500; otherwise, it needs to guard against a drop to test the support at the 110,000 integer level.
ETH (+0.45% | Current price: 4,582 USDT): ETH's short-term performance is better than BTC, with the current price above the short-term moving average and showing a bullish arrangement. The MACD golden cross continues, with the red histogram expanding, and momentum has not yet waned. Trading volume is also moderately increasing, indicating relatively good buying support during the rebound. If it can stabilize above 4,580, there is a chance to test the 4,700–4,800 range; short-term support to watch is the 4,500 integer level and the dynamic support of MA 10.
Altcoins: The overall market rebounded, with mainstream coins generally rising. The fear and greed index rose to 51, indicating a return of funds and a shift in sentiment towards optimism, with a short-term expectation of continued recovery and a slight increase in activity.
Macro: On August 26, the S&P 500 index rose by 0.41%, closing at 6,465.94 points; the Dow Jones index increased by 0.30%, closing at 45,418.07 points; the Nasdaq index rose by 0.44%, closing at 21,544.27 points. As of August 27, 10:15 AM (UTC+8), the spot price of gold was reported at 3,384 USD per ounce, with a 24-hour decline of 0.28%.
According to Gate's market data, the IP token is currently priced at 6.192 USD, having risen approximately 10.82% in the last 24 hours. Story Network is a decentralized network protocol focused on intellectual property (IP) and data assets, aimed at providing creators with verifiable and tradable digital creation infrastructure, covering functions such as IP registration, tracking, collaboration, and revenue distribution. Its native token, STORY, is primarily used for governance, protocol fee payments, and ecological incentives, and will be applied to various creator reward mechanisms on the platform.
The recent rise of IP is mainly driven by positive catalysts, including the announcement of the "Origin Summit" to be held in 2025, focusing on emerging topics at the intersection of IP, AI, and cryptocurrency, with partners including mainstream institutions like HYBE, The Black Label, Grayscale, and Animoca, strengthening its strategic position in the creator economy and Web3 narrative system. At the same time, Story has also announced a collaboration with @psdnai for a physical AI data contribution program, which will allow users to earn Poseidon Points through audio uploads and event participation, promoting deeper user engagement and bringing new use cases and value support to the token.
According to Gate's market data, the AURORA token is currently priced at 0.11820 USD, having risen approximately 69.12% in the last 24 hours. Aurora is an EVM-compatible network built on the NEAR protocol, providing a high-performance, low-cost Ethereum scaling solution, with an ecosystem that includes Aurora Engine, Cloud, and multi-chain deployment tools, widely supporting applications such as stablecoins, GameFi, and DePIN.
AURORA's recent rise is mainly driven by ecological cooperation and infrastructure layout, including the announcement that Human Protocol has officially joined the Aurora ecosystem, bringing trusted coordination and fair payment mechanisms to on-chain workers through a decentralized labor collaboration network, enhancing its practical application and scalability. At the same time, the Aurora team released a proposal for stablecoin chain construction, emphasizing the use of the Aurora virtual chain to create a dedicated fee system to lower deployment thresholds and improve predictability, laying the foundation for future diverse financial scenarios and eliciting a positive market response.
According to Gate's market data, the NMR token is currently priced at 18.829 USD, having risen 134.25% in the last 24 hours. Numerai is a quantitative hedge fund platform that combines artificial intelligence and decentralized models, allowing global data scientists to participate in building stock market prediction models. NMR is primarily used for incentivizing modeling, staking validation, and rewarding data prediction accuracy.
The core positive factor driving NMR's recent rise is JPMorgan's announcement of locking in a strategy capacity of 500 million USD in the Numerai fund, marking an important milestone since the platform's inception and symbolizing traditional financial institutions' recognition of AI-driven quantitative strategies. At the same time, the community's expectations for its positioning as an "AI era hedge fund" and future market integration have significantly increased, driving market capital enthusiasm.
Google Cloud recently unveiled its self-developed Layer 1 blockchain project, Google Cloud Universal Ledger (GCUL), which has now entered the private testnet phase. This chain is designed specifically for financial institutions, emphasizing "neutrality, scalability, and 24/7 financial market support," and introduces a unique Python smart contract execution environment, distinguishing it from other Layer 1 blockchain designs that primarily use Solidity.
The core functions of GCUL include: native commercial bank on-chain currency support, 24/7 capital market infrastructure, and agentic capabilities. Thanks to Google’s vast network effects in cloud computing, advertising, and Android systems, GCUL has a natural advantage with billions of users and hundreds of institutional partners. Its positioning as "financial infrastructure as a service" makes it likely to become one of the new standards for global institutions exploring tokenized assets and on-chain payments. Currently, GCUL has partnered with the Chicago Mercantile Exchange (CME Group) to support the tokenization of commodity settlement and on-chain payment pilots. In the coming months, Google plans to release more technical details.
According to DefiLlama data, the total locked value (TVL) of the decentralized lending protocol Aave has surpassed 41.1 billion USD, setting a new historical high. Compared to the traditional financial system, this scale is sufficient to rank as the 54th largest commercial bank in the U.S., exceeding the deposit scale of 38.4 billion USD of Prosperity Bank, and is only about 300 million USD short of Bank OZK.
If the outstanding loans of 28.9 billion USD on that day are included, Aave's total capital scale would exceed 70 billion USD, placing it among the top 37 banks in the U.S. (ranking in the top 1.7%). Aave founder Stani Kulechov stated that Aave is an open financial network capable of providing institutions with a source of income without relying on the Federal Reserve, highlighting the structural potential of DeFi as an alternative to the traditional financial system. Currently, Aave continues to lead in the DeFi lending space, holding about 50% of the market TVL, nearly six times the scale of the second-largest competitor, Morpho, reflecting a high concentration of user and institutional funds in its safety and stability.
Related: U.S. Secretary of Commerce Howard Lutnick: Economic data will be released on the blockchain.
Original article: “Aave TVL Hits All-Time High | Google Cloud Launches L1 Blockchain GCUL”
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