Gate Research: PayPal Launches ‘Pay with Crypto’ | CryptoPunks Trading Volume Hits New High in Nearly a Year

Crypto Market Overview

• BTC (-0.91% | Current price 118,305 USDT): BTC price slightly decreased by 0.91% in the past 24 hours, dropping from about $119,399.80 to $118,321.00, with active trading volume. Technical analysis shows BTC prices fluctuating near the 50-day moving average, RSI close to 60, indicating neutral but slightly bullish market momentum, while MACD shows a slightly bearish signal, reflecting short-term correction pressure. On July 28, BTC ETF saw an inflow of $157 million, with IBIT receiving $147 million and FBTC receiving $30.9 million.
• ETH (-2.47% | Current price 3,781 USDT): ETH price dropped by about 2.47% in the past 24 hours, from $3,875 to $3,779. Technical analysis shows the current price above the 10-day SMA, with a 14-day RSI of about 79.8, indicating the market is still in an overbought state. On July 28, ETH ETF saw an inflow of $65.2 million, with BlackRock’s ETHA receiving $132 million and Fidelity’s FETH seeing an outflow of $49.2 million.
• Altcoins: Altcoins showed a downward trend in the past 24 hours. The Fear and Greed Index currently reports 73, indicating market sentiment remains optimistic.
• Macro Environment: On July 28, the S&P 500 index rose 0.02% to 6,389.77 points; the Dow Jones Industrial Average fell 0.14% to 44,837.56 points; the Nasdaq index rose 0.33% to 21,178.58 points. As of 3:00 (UTC) on July 29, the spot gold price per ounce is reported at $3,318, with a 24-hour increase of 0.12%.

Trending Tokens

SQD Subsquid (+53.21%, Market Cap $159 million)

According to Gate.io market data, the SQD token is currently priced at $0.224, with a 24-hour increase of 53.21%. Subsquid is a decentralized query engine currently processing historical on-chain data from over 100 EVM and Substrate networks, as well as data from Solana and Starknet in the testing phase. This data includes detailed information such as EVM event logs, transaction receipts, traces, and state differences for each transaction. It is also developing coprocessors and RAG functionality leveraging its multi-chain indexing capabilities, connecting to off-chain data lake resource networks through zero-knowledge proof markets and trusted execution environments (TEEs). In September 2023, it launched an incentivized testnet on CoinList, with the native token SDQ officially issued in May 2024, and the data lake certificate mainnet launched in early June.

The price increase of SQD in the past 24 hours is mainly attributed to its listing on mainstream exchanges, which increased its market liquidity and trading activity. Improved funding and market sentiment may also have played a supporting role. In the future, SQD’s price trend will depend on its adoption in the developer community, listings on more exchanges, and overall market dynamics.

NMD Nexusmind (+17.27%, Market Cap $210 million)

According to Gate.io market data, the NMD token is currently priced at $20.51, with a 24-hour increase of 17.27%. NexusMind is a revolutionary decentralized social software, dubbed the “Twitter killer”. The application is built on the cutting-edge decentralized network Nostr, which gives users greater control over their social media experience. With NexusMind, users can enjoy a more secure and private social networking experience that is not controlled by central authorities. Unlike traditional social media platforms, NexusMind allows users to connect with others in a fully decentralized and transparent manner, ensuring that users always have control over their own data.

The price increase of NMD in the past 24 hours is mainly attributed to its upcoming listing on some cryptocurrency exchanges, which will increase its market liquidity and trading activity. In the future, NMD’s price trend will depend on its adoption in the developer community, listings on more exchanges, and overall market dynamics.

KTA Keeta (+8.56%, Market Cap $49.65 million)

According to Gate.io market data, the KTA token is currently priced at $1.22, with a 24-hour increase of 8.56%. Keeta Network is a high-performance Layer-1 blockchain dedicated to providing secure, efficient, and highly interoperable solutions for global payments and asset transfers. Its vision is to become the “common foundation for all asset transfers,” supporting not only cross-chain transactions but also emphasizing seamless integration with traditional financial systems. Keeta was designed to address the pain points of traditional payment systems, such as high fees, slow settlement speeds, and lack of compliance support, aiming to achieve fast transaction settlement and asset tokenization through its technical architecture.

The price increase of KTA in the past 24 hours is mainly attributed to technological breakthroughs, on-chain accumulation, and bullish community sentiment. In the future, KTA’s price trend will depend on its adoption in the developer community and the overall trend of the altcoin market.

Alpha Insights

PayPal launches cryptocurrency payment feature, supporting transactions with wallets like MetaMask

Payment giant PayPal has announced the launch of its “Pay with Crypto” feature, providing services to merchants by enabling instant conversion between cryptocurrencies and stablecoins or fiat currencies. The feature supports transactions with various Web3 wallets, including MetaMask, and reaches over 650 million cryptocurrency users globally. Reportedly, Pay with Crypto’s transaction fee is only 0.99%, which can reduce transaction costs by up to 90% compared to international credit card processing.

PayPal’s launch of the “Pay with Crypto” feature marks a significant breakthrough in the digital payment field, bringing a more convenient payment experience to users and merchants by integrating cryptocurrencies into daily transactions. This feature reduces the complexity of using digital assets through an instant conversion mechanism, allowing more people to easily participate in the crypto economy. Its low transaction cost has a clear advantage over traditional payment methods and is likely to attract more merchants to accept cryptocurrency payments, thus promoting the popularization of digital currencies in the market. Looking ahead, this innovation may inject new vitality into the development of decentralized finance, promoting the continuous emergence of more technologies and services related to digital currencies, and further changing the global payment landscape.

FIS partners with Circle to support financial institutions’ access to USDC stablecoin payment functionality

Financial technology giant FIS has announced a partnership with stablecoin issuer Circle to provide USDC stablecoin payment capabilities to U.S. financial institutions through FIS’s Money Movement Hub. The collaboration includes support for domestic and cross-border stablecoin payments, integration of real-time payment and anti-fraud systems, helping financial institutions deploy blockchain payment functions more securely and efficiently.

The partnership between financial technology giant FIS and stablecoin issuer Circle opens a new chapter for digital currencies in the traditional financial sector. This collaboration, by introducing USDC stablecoin payment functionality to U.S. Financial institutions provide a more efficient and cost-effective alternative for domestic and cross-border transactions, while combining real-time payment and anti-fraud technologies to ensure security and practicality. This move not only marks the further implementation of blockchain technology in financial payments but may also encourage more institutions to explore similar models. Looking ahead, such partnerships could accelerate the widespread application of stablecoins, promote financial technology innovation, and even gradually change the landscape of the global payment system, bringing users a more convenient and inclusive financial service experience.

CryptoPunks NFT trading volume hits highest since March 2024

The CryptoPunks NFT series saw trading volume exceed $24.6 million last week, reaching its highest level since March 2024, a 416% increase from the previous week. This trading frenzy is believed to be related to GameSquare’s acquisition of Punk #5577 for $5.15 million in preferred stock, which also drove significant increases in the floor price and average sale price of CryptoPunks.

Recently, the trading activity of the CryptoPunks NFT series has significantly heated up, showing that market enthusiasm for this iconic digital asset has resurged. Behind this trend, a major acquisition by a company has become a key factor in driving prices and attention increases. This not only highlights the important position of CryptoPunks in the NFT field but also reflects investors’ strong demand for high-quality digital collectibles. Looking ahead, as more companies join this market, the NFT ecosystem is expected to usher in new development opportunities, potentially further consolidating its influence as a platform for digital art and asset trading.

Gate Launchpool

Launchpool Details

• Project: Delabs Games
• Token: DELABS
• Expiration date: August 10, 2025, 3:00 (UTC)
• Participation: Stake ETH, USDT, DELABS to receive for free
• Total Mining Rewards: 17,000,000 DELABS

Project Overview

Delabs Games is the world’s most scalable Web3 gaming platform, offering top mid-core games supported by classic IPs. Founded by the former CEO of Nexon, Delabs has selectively launched breakthrough games such as “Rumble Racing Star”, “GIGACHADBAT”, and “Boxing Star X”. The platform already has millions of users, increasing interactions, and has achieved real revenue. With the upcoming release of “Ragnarok Libre”, a placement RPG based on the legendary IP “Ragnarok”, it is set to experience even greater growth momentum. At the core of this vibrant ecosystem is DELABS - the key to staking, exclusive content, and valuable rewards in a rapidly expanding universe of quality games.


Reference

• Gate, https://www.gate.com/trade/BTC_USDT
• Gate, https://www.gate.com/zh/trade/ETH_USDT
• Farside Investors, https://farside.co.uk/btc/
• 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
• Newsroom, https://newsroom.paypal-corp.com/2025-07-28-PayPal-Drives-Crypto-Payments-into-the-Mainstream
• Businesswire, https://www.businesswire.com/news/home/20250728320277/en/FIS-Partners-with-Circle-to-Unlock-Stablecoin-Money-Movement-Functionality-for-Financial-Institution-Customers
• The Block, https://www.theblock.co/post/364438/cryptopunks-nfts-see-highest-weekly-trading-volume-since-march-2024
• Gate, https://www.gate.com/zh/announcements/article/46334

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 the cryptocurrency market involves high risk. Users are advised to conduct independent research and fully understand the nature of the assets and products before making any investment decisions. Gate.io is not liable for any losses or damages resulting from such investment activities.