Gate Research Institute: On September 2, BTC prices overall fluctuated upwards; ETH prices are currently oscillating in the range of $4,350 - $4,380, with bullish momentum recovering. The JELLYJELLY token has increased by 30.25% in the last 24 hours; the ELA token has increased by 22.63% in the last 24 hours; the Alpenglow upgrade has passed: Solana welcomes a historic restructuring; the market capitalization of gold tokens has surpassed $2.5 billion.
BTC (+2.61% | Current price: 110,305 USDT): In the past 24 hours, BTC prices have generally fluctuated upwards. After dipping to around $107,400 yesterday afternoon, it quickly surged, reaching above $109,700 at its peak. Entering early this morning, BTC consolidated in the range of $108,500 - $109,200, and in the morning, bulls exerted force again, pushing the price above $110,300. Currently, the key support level is at $108,500; if the upward momentum continues, it is expected to challenge the range of $110,500 - $111,000.
ETH (+0.06% | Current price: 4,382 USDT): In the past 24 hours, ETH prices initially rose and then fell. It quickly surged to around $4,480 yesterday afternoon, then oscillated downwards, dipping to a low of $4,210. This morning, ETH gradually stabilized and rebounded, currently oscillating in the range of $4,350 - $4,380, with bullish momentum recovering.
Altcoins: Most mainstream altcoins have entered a slight upward trend, with market sentiment primarily leaning towards "buy" or "neutral." The Fear and Greed Index today reports 49, which is in the normal range, indicating that market sentiment has improved compared to before.
Macro: As of September 2, 11:37 AM (UTC+8), the spot price of gold is reported at $3,490.60 per ounce, with a 24-hour increase of 0.40%.
According to Gate's market data, the current price of the JELLYJELLY token is $0.02204, with a 24-hour increase of 30.25%.
Jelly-my-jelly is a cryptocurrency based on the Solana platform, with the code name JELLYJELLY. As a project, Jelly-my-jelly aims to provide users with interesting and potentially profitable investment opportunities. As part of the Solana ecosystem, Jelly-my-jelly benefits from the platform's high-speed and low-cost transactions. It is also classified as part of the "Pump Ecosystem" and "Startup Meme," indicating it may have high volatility and potential returns.
This round of price increase is driven by multiple factors: on one hand, trading volume has significantly increased, bringing enhanced market activity; on the other hand, the project's video editing application based on Solana is about to launch, allowing token holders to experience it first, which has strengthened market expectations for the application’s rollout; at the same time, after a deep correction, market sentiment is gradually recovering, combined with liquidity support from multiple exchanges, stimulating capital inflow and driving prices to continue rising.
According to Gate's market data, the current price of the ELA token is $1.65, with a 24-hour increase of 22.63%.
Elastos is a next-generation Web 3.0 platform dedicated to building a decentralized smart web (SmartWeb) based on blockchain technology. Elastos provides a secure and reliable foundation for the platform with its main sidechain structure, multi-layer consensus, and smart contract consensus computing; it has built decentralized identity, communication, storage, and computing services on top of it, aiming to provide a system platform that supports distributed applications while offering good user privacy protection and data security, becoming an engine for the data assetization wave.
In the past 24 hours, ELA has seen a significant increase, mainly due to the following points: first, the project continues to advance its ecosystem construction around its Bitcoin-backed stablecoin BTCD, and the market remains optimistic about the progress and long-term potential; second, the token has led the increase in the Layer 1 category, with trading volume significantly increasing on multiple mainstream platforms, and active buying driving prices to continue rebounding.
According to Gate's market data, the current price of the ESPORTS token is $0.1215, with a 24-hour increase of 21.42%.
Yooldo is a multi-chain Web3 gaming platform that simplifies the user onboarding process through a centralized exchange-like interface while achieving true digital ownership through NFTs and token-based assets. Yooldo is supported by many leading partners, including Consensys and Linea, and its multi-game universe is powered by the ESPORTS token. Yooldo continuously explores feasible Web3 gaming models while developing complementary service products to enrich the Web3 ecosystem.
ESPORTS has experienced strong upward volatility, mainly due to its recent listing on multiple large trading platforms, significantly enhancing market liquidity, exposure, and tradability, thus driving prices to rise rapidly.
On September 2, 2025, the crypto market reached an important milestone: as gold prices approached the historical high from April, the market size of gold-backed tokens surpassed $2.57 billion for the first time. According to CoinGecko data, Tether's XAUT and Paxos' PAXG have become the core driving forces behind this growth.
XAUT is a token issued by stablecoin giant Tether, directly backed by physical gold. Data shows that in August, the supply of XAUT surged by $437 million, with its market capitalization climbing to a record $1.3 billion. Etherscan blockchain records show that Tether minted 129,000 tokens on the Ethereum network in early August, highlighting the strong demand for safe-haven assets in the market. Meanwhile, Paxos' PAXG has also performed strongly. DefiLlama data shows that since June, PAXG has attracted $141.5 million in inflows, expanding its market capitalization to $983 million, also setting a historical high. This indicates that investors are actively allocating gold in tokenized form to hedge against macroeconomic risks.
Currently, the international gold price is about $3,490 per ounce, just a step away from the peak reached during the tariff storm on April 22. Gold is traditionally seen as a safe-haven tool during turbulent times, and recent changes in the U.S. Treasury yield curve have further increased the momentum for capital inflow into the gold market.
Dogecoin has experienced significant fluctuations in the past 24 hours. The price once surged to $0.22 but then fell back to $0.21 due to profit-taking and end-of-day selling, forming a range-bound oscillation pattern. Trading data shows that at key points of rise and pullback, the trading volume exceeded 800 million DOGE, far above daily levels, highlighting the large-scale participation of institutional funds. On a macro level, influenced by trade policies, Federal Reserve signals, and global inflation expectations, market volatility has intensified, and corporate finance departments are also considering including liquid digital assets like DOGE in diversified allocations.
From a technical perspective, $0.21 has established itself as a phase support level, while $0.22 remains the main resistance, with a breakthrough requiring a solid hold above $0.225. The current RSI remains around 50, and the MACD shows momentum compression, indicating that the market is at a critical point of directional choice. If it can break upwards, the short-term target may point to the range of $0.25 to $0.30; if it falls below $0.21, there is a risk of retreating to $0.20. Overall, the inflow of institutional funds is strengthening the price trend, and attention will be on whether it can break through resistance levels to open up upward space.
On September 1, 2025, the Solana community voted to pass the Alpenglow upgrade proposal (SIMD-0326), which is a comprehensive transformation of the consensus mechanism, economic model, and security structure, considered one of the most important upgrades to the Solana network to date. After the upgrade, the final confirmation time for blocks will be significantly reduced from about 13 seconds to 100–150 milliseconds, marking a qualitative leap in network performance and efficiency. Technically, the Tower BFT consensus has been replaced by a new Votor finality engine, combined with BLS aggregate signatures and off-chain voting, significantly reducing the on-chain burden; at the same time, a data propagation layer called Rotor single-hop relay has been introduced to replace the original Turbine protocol, fundamentally compressing network latency. The historical proof (PoH) mechanism has also been abolished, replaced by a fixed block time of 400 milliseconds, maintained by the validators' local timers.
In terms of the economic model, on-chain voting fees have been eliminated, replaced by a fixed validator entry ticket (VAT), approximately 1.6 SOL per epoch, which will be directly burned, with an estimated annual burn of 296,000 SOL to slightly suppress inflation. At the same time, the minimum staking threshold for validators may be lowered, but specific plans are still under discussion. In terms of the security model, the Byzantine fault tolerance threshold has been reduced from 33% to 20%, and a "20+20" elasticity mechanism has been introduced, allowing the network to maintain normal operation even if 20% of nodes act maliciously and 20% of nodes are offline. This upgrade will also impact the MEV ecosystem: the extremely short confirmation time has almost compressed the space for arbitrage and sandwich attacks, increasing the cost of malicious behavior. According to the plan, Alpenglow is expected to complete mainnet deployment in the first quarter of 2026 and will continue to improve the economic and incentive mechanisms with new SIMD proposals. This upgrade is not only a breakthrough in performance but may also profoundly affect the ecological landscape and long-term development direction of Solana.
Related: As whales shift to Ethereum (ETH) and UK bonds soar, can Bitcoin (BTC) hold above $109,000?
Original article: “Solana Welcomes Historic Restructuring | Bitcoin Fluctuates Higher”
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