On September 24, BTC reported at $112,462, with limited rebound momentum and an overall weak trend; ETH fell back to $4,326, still under short-term pressure; altcoins performed steadily, with market sentiment neutral. In terms of popular tokens, SVL rose 61.17% in a day, while BARD and HEMI increased by 47.33% and 53.20%, respectively, with funds rapidly flowing in. On a macro level, Vitalik emphasized full-stack openness and verifiability; Tether may raise up to $20 billion; Seedify was hacked, and cross-chain bridge operations were urgently frozen to control risks.
BTC (+0.06% | Current price $112,462): After BTC price fell from a high of $116,113, it dipped to a low of $111,470 and has now slightly rebounded to $112,462. Trading volume significantly increased during the decline, while the rebound volume did not follow suit, indicating insufficient buying confidence. If it can break through and stabilize in the $112,800 to $113,000 range, it may further recover above $114,500; however, if the price falls below $111,800 again, it could accelerate the decline to the $111,000 support level. Overall, BTC is currently in a weak rebound phase, and attention should be paid to changes in volume and key support defenses.
ETH (+0.27% | Current price $4,192): After fluctuating above $4,500, ETH price quickly dropped, reaching a low of $4,067, and then consolidated at a low level, currently rising to around $4,192. Trading volume increased during the decline, while the rebound volume was relatively insufficient, indicating cautious fund sentiment. If it can break through and hold above the $4,200 level, it may recover above $4,300; conversely, if it falls back below $4,100, it may continue to experience weak fluctuations or even retest the lows. The overall pattern remains weak, with short-term rebounds being exploratory in nature.
Altcoins: Most mainstream altcoins maintained slight increases, with market sentiment primarily "neutral" or "buy." The Fear and Greed Index reported 45 today, still in the neutral range, indicating a balanced state of market sentiment without strong bullish or bearish emotions.
Macro: On September 23, the S&P 500 index fell 0.55%, closing at 6,656.92 points; the Dow Jones index dropped 0.19%, closing at 46,292.78 points; the Nasdaq index decreased by 0.95%, closing at 22,573.47 points. As of September 24, 10:41 AM (UTC+8), the spot price of gold was reported at $3,754 per ounce, with a 24-hour decline of 0.25%.
According to Gate's market data, the current price of SVL token is $0.03831, up approximately 61.17% in 24 hours. The Slash Vision Labs token (SVL) is issued on the Mantle Network and follows the ERC20 standard. The SVL token is central to the Slash project and is a key component driving the project's ecosystem. SVL includes various functions, including the issuance of SVL TimeLock NFTs, which are an important part of the project's governance structure. Additionally, the operational ecosystem of SVL uses profits generated from the total merchandise transaction volume (GMV) of Slash Payment and Slash Card to purchase the native token (MNT) of the Mantle Network from the market, which is then distributed to SVL TimeLock NFT holders. This revenue-sharing model highlights the decentralized nature of the organization and promotes growth and sustainability.
SLASH VISION has officially launched the closed beta pre-registration for the "Slash Card," attracting widespread market attention. As Japan's first USDC-backed BNPL service, this product uses stablecoins as collateral, combined with non-custodial wallets, to achieve seamless online and offline shopping, highlighting its innovation and practical value. At the same time, the project emphasizes compliance and security, particularly in strengthening international anti-money laundering (AML) measures, further enhancing market trust. This new narrative injects fresh imagination into the integration of crypto assets and the real economy. According to Gate's market data, the SVL token is currently priced at $0.03831, having surged 61.17% in 24 hours, accompanied by rapid fund inflows and strong bullish sentiment, significantly heating up market activity.
According to Gate's market data, the current price of BARD token is $1.41, up approximately 47.33% in 24 hours. Lombard is building a full-stack infrastructure to promote the on-chain development of Bitcoin capital markets, unlocking the full potential of the most important assets of our generation. Lombard aims to bring the impact of Tether/Circle's stablecoins to Bitcoin. Lombard has established market leadership with its yield-bearing asset $LBTC, which is fully backed by BTC and can be combined in the DeFi space. It is integrated with protocols across 12 blockchains, including Aave, Spark, Pendle, and Etherfi, while also earning yields. It is backed by a decentralized alliance of 14 digital asset institutions and is currently the largest Bitcoin LST, holding 57% of the market share. $LBTC is also the fourth-largest BTC derivative, following interest-free tokens $WBTC, $CBBTC, and $BTCB.
The BARD token completed its TGE on September 18 and quickly became a market focus. Its narrative extends beyond governance, serving as a key pillar of the LBTC security system, relying on Symbiotic's universal staking layer and Chainlink CCIP to provide real-time security for cross-chain Bitcoin transfers. At the same time, the Lombard protocol forms a scalable revenue model through minting and redemption fees, treasury fees, and transaction fees on Ledger and SDK, and with the accelerating demand for Bitcoin-related services, it is expected to become enterprise-grade middleware and infrastructure. This multi-dimensional value support significantly boosts market confidence. According to Gate's market data, the BARD token is currently priced at $1.41, having surged 47.33% in 24 hours, with active trading and strong bullish sentiment being released.
According to Gate's market data, the current price of HEMI token is $0.1532, up 53.20% in 24 hours. Hemi is a modular blockchain designed for exceptional scalability, security, and interoperability, supported by Bitcoin and Ethereum. While other projects view Bitcoin and Ethereum as ecosystem islands, Hemi sees them as components of a single super network, unlocking higher levels of programmability, portability, and potential. At the core of Hemi is the Hemi Virtual Machine (hVM), which integrates a full Bitcoin node within the Ethereum Virtual Machine, combined with the Hemi Bitcoin Kit (hBK), providing developers with a familiar and powerful platform to create Hemi decentralized applications (hApps).
Hemi recently surged to the top of CoinMarketCap's trending list, quickly attracting significant market attention with its "unwrapped, cross-chain-free" native Bitcoin DeFi narrative. The project has achieved over $1.2 billion in TVL, covering 90+ protocols and gathering over 100,000 users, further enhanced by the founder being an OG Bitcoin core developer, which adds unique credibility. Hemi leverages Bitcoin's inherent security for finality confirmation and offers trust-minimized re-staking yields for native BTC, truly unlocking over $20 trillion in potential capital value. According to Gate's market data, HEMI is currently priced at $0.1532, having risen 53.20% in 24 hours, with significantly increased trading volume and sustained bullish sentiment in the market.
Ethereum co-founder Vitalik Buterin recently published an article emphasizing the core role of full-stack openness and verifiability in modern technology, particularly in applications related to personal health, digital citizenship technology, and the global economy. He pointed out that to ensure that technological development balances security and fairness, open-source and verifiable methods must be adopted to reduce power abuse and enhance overall societal transparency and trust.
This move not only showcases Vitalik's forward-thinking on future technological architecture but also highlights the importance of the open-source ecosystem in building trustworthy infrastructure. He proposed creating a fully open-source, easily verifiable full-stack solution that encompasses hardware, software, and biotechnology, focusing on high-security but non-performance-critical application scenarios. This vision is expected to promote the decentralization concept in a broader social and industrial context, but at the same time, how to balance openness with efficiency, privacy protection with compliance regulation will remain key issues for future development.
According to Bloomberg, stablecoin issuer Tether is in talks with investors to raise $15 billion to $20 billion through a private placement in exchange for about 3% equity. If successful, the company's valuation could reach as high as $500 billion, making it one of the most valuable private companies globally. Sources revealed that potential investors have been granted access to a data room to assess the details, with the transaction expected to be completed by the end of the year at the earliest. However, Tether's advisors and related representatives have denied any current financing plans.
This news not only reflects the market's attention to Tether's dominant position in the global stablecoin landscape but also highlights the potential for crypto financial companies to leap to higher valuations. If the transaction materializes, Tether is expected to further enhance its industry influence at the capital level. However, the scale and terms of the financing remain uncertain, and market volatility, compliance pressures, and corporate transparency issues will all be key factors that investors must carefully evaluate in their decision-making process.
Seedify officially disclosed that a developer's private key was stolen by a North Korean state-linked hacking group, allowing the attackers to modify the OFT contract settings, illegally mint SFUND tokens through the Avalanche cross-chain bridge, and cross-chain to Ethereum, Arbitrum, and Base to extract liquidity, which was only stopped by the team after a large-scale sell-off to the BNB chain. Seedify emphasized that the incident was limited to the theft of minting permissions, and the core contract, user wallets, and underlying protocols were not affected.
This incident not only highlights the critical importance of private key security in Web3 projects but also reminds the market of the potential risks of cross-chain bridges in asset security. Seedify has suspended all cross-chain bridge operations and has collaborated with multiple exchanges to freeze suspicious funds, further revoking related permissions. Although the official confirmation states that liquidity on the BNB chain is risk-free, users are still advised not to purchase SFUND on other chains to prevent unknown risks. Investors should also be aware that hacking attacks can impact token trust and market liquidity, potentially leading to subsequent volatility and risk challenges.
Related: Crypto market sees over $1.7 billion in liquidations in a single day | AIC rises over 71% against the trend
Original article: “BTC Weak Rebound | SVL, BARD, and HEMI Lead the Market Gains | Renewed Focus on Seedify Security”
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