Gate Research Institute: Visa Expands Its Stablecoin Support Landscape | Tether Gold Reserve Market Capitalization Exceeds 2.1 Billion USD

Crypto Market Overview

• BTC (-0.29% | Current price 112,112 USDT): After a short-term rise, BTC faced pressure and fell back, with the price retreating from above 116,000 USD to around 112,000 USD, continuing the short-term downtrend. The current price is operating below the MA5 and MA10, with the MA moving averages in a bearish arrangement, indicating that selling pressure remains heavy above. The MACD double lines continue to decline and are below the zero axis, with green bars expanding, showing weak momentum. If the price breaks below the support at 111,500 USD, it may further drop to the 109,600 USD area; if it stabilizes and breaks above 113,500 USD, there is hope for a recovery to 115,000 USD.
• ETH (-0.11% | Current Price 3,968 USDT): ETH is also caught in a high-level adjustment pattern, with the price retracting from above 4,200 USD to around 3,960 USD. The short-term moving averages MA5 and MA10 are turning down and forming a death cross, and after MA30 loses support, it becomes a resistance level. The MACD double line continues to decline, with green bars extending, indicating that the momentum remains weak and there is a lack of upward momentum in the capital. If it breaks below the support at 3,950 USD later, attention will shift to the 3,870 USD area; conversely, if it can return above 4,050 USD and break through with volume, the short-term rebound potential may open up to 4,150 USD.
• Altcoins: The crypto market as a whole has entered a correction phase, with the fear and greed index rising to 51, indicating that market sentiment has returned to neutral from overheated.
• Macro: On October 28, the S&P 500 Index rose by 0.23%, closing at 6,890.89 points; the Dow Jones Index increased by 0.34%, ending at 47,706.37 points; the Nasdaq Index climbed by 0.80%, reaching 23,827.49 points. As of October 29, 10:15 AM (UTC+8), the spot gold price is temporarily reported at 3,972 USD per ounce, with a 24H increase of 0.50%.

Popular Tokens on Juejin

PI Pi Network (+16.77%, circulating market value 21.57 billion dollars)

According to Gate market data, the current price of the PI token is $0.26590, with an increase of about 16.77% within 24 hours. Pi Network is a decentralized encryption network project based on mobile devices, aimed at allowing ordinary users to participate in blockchain mining and ecological construction through their phones. The project adopts a lightweight consensus mechanism to lower participation thresholds and form a decentralized community composed of tens of millions of users worldwide.

The PI token has seen a strong rise recently, likely driven by updates to the KYC system. On October 29, the official announcement revealed that an additional 3.36 million users had passed identity verification, and more “pending approval” accounts were allowed to resubmit live detection, significantly expanding the number of circulating users within the ecosystem. This news led to a rapid influx of short-term funds. Coupled with increased community activity and market sentiment, PI has become one of the standout popular tokens in recent times.

AT APRO Token (+22.73%, circulating market value 92.805 million USD)

According to Gate market data, the current price of the AT token is $0.4005, with a 22.73% increase in the last 24 hours. APRO is a decentralized AI oracle protocol focused on providing reliable data feeds and verification services for scenarios such as RWA, AI, prediction markets, and DeFi. The project adopts a multi-chain data verification mechanism, covering more than 40 mainstream public chains, and achieves high-frequency data verification and intelligent invocation through the Oracle 3.0 architecture, becoming an important part of the cross-chain data infrastructure.

The AT token has recently surged strongly, mainly driven by multiple favorable factors. In the weekly report released by the official this week, it was disclosed that the APRO platform's verification data volume has exceeded 100,000 times, and the AI call volume is nearly 95,000 times, indicating a continuous rise in ecological application demand. In addition, the team has announced that a new plan titled “A PROmise of All PROmises” will be launched on October 29, which the market generally interprets as a significant ecological upgrade signal. Coupled with the expectations of the x402 payment protocol linkage, AT has become one of the hottest representative projects in the AI + Oracle sector recently.

PUFFER Puffer (+29.82%, Market Cap 35.3347 million USD)

According to Gate market data, the PUFFER token is currently priced at 0.11701 USD, having increased by approximately 29.82% in the last 24 hours. Puffer is a modular infrastructure project built on the Ethereum ecosystem, with its core product UniFi AVS aimed at introducing real-time execution mechanisms for Ethereum Rollups, enhancing transaction confirmation speed and network efficiency. The project achieves a balance of immediacy and security through the execution of pre-confirmation technology, simulating and verifying transactions before they are packaged, thereby strengthening the stability of Layer2 networks and improving the user experience.

The PUFFER token has seen a strong rise recently, mainly driven by the launch of new products and heightened narrative momentum. The official announcement this week of the UniFi AVS going live has garnered significant market attention, as it addresses the issues of Rollups delay and uncertainty with “real-time execution” technology. The innovation of this technology is considered an important milestone for the Ethereum scalability ecosystem. Coupled with increased community activity and expectations of interaction with multiple ecosystem projects, PUFFER has become one of the standout infrastructure tokens in recent performance.

Alpha Interpretation

t54.ai launched x402-secure, building a proxy ecosystem for programmable trust and verification system

The trusted proxy protocol t54.ai has launched a new component x402-secure, adding “programmable trust” and “verifiability” layers to the x402 protocol, marking a new stage of higher security and transparency for the proxy payment system. The solution achieves pre-settlement protection through the native risk engine Trustline, identifying potential risks before the payment is initiated; its SDK can automatically capture proxy reasoning and invocation traces, generating AP2 compatible evidence and embedding it in the payment process, thereby defending against logical attacks such as prompt injection and fake subscriptions from a mechanism perspective, enhancing the traceability and compliance of model execution. Meanwhile, the Validator Agent Network (VAN) monitors servers, APIs, and website content in real-time, combining social reputation and on-chain data for dynamic analysis and risk warning.

The launch of x402-secure marks the entry of agency network governance into the “verifiable trust” era. Its pre-settlement protection and reasoning tracking mechanism form a risk closure from execution to payment, effectively reducing agency illusion and abnormal calls; the VAN network establishes a data-driven trust scoring system for ecological participants through monitoring and reputation assessment, enhancing transparency and risk resistance. Overall, x402-secure deeply integrates security verification and behavior traceability, laying a institutionalized security foundation for agency collaboration and autonomous agent economy.

Visa expands its stablecoin support landscape, with quarterly crypto market payment volume increasing fourfold year-on-year.

Global payment giant Visa has announced that it will support more stablecoin settlements and transfers, further strengthening its infrastructure layout in the crypto payment ecosystem. CEO Ryan McInerney stated during the fourth-quarter earnings conference call that the company is expanding support for four stablecoins that operate on four different blockchains, covering two fiat currencies and convertible into more than 25 traditional currencies globally. This initiative means that Visa is transforming from a traditional card organization to a multi-chain payment hub, building an on-chain and off-chain compatible funds clearing system. McInerney pointed out that the amount spent on Visa cards linked to stablecoins in the fourth quarter increased fourfold year-on-year, reflecting that mainstream financial users are quickly adapting to digital currency payment scenarios.

Since 2020, Visa has facilitated over $140 billion in cryptocurrency and stablecoin flows, including more than $100 billion in user coin purchase transactions. Currently, Visa has launched over 130 issuer programs linked to stablecoins in more than 40 countries, and has begun allowing banks to mint and burn stablecoins independently, further deepening the integration of stablecoins with traditional financial systems. This move not only enhances the efficiency of cross-border payments and settlements but also signifies that Visa is viewing stablecoins as a key component of the future payment network, providing infrastructure support for the “encryption” of the global financial system.

Tether Gold's reserve market value has exceeded 2.1 billion USD, holding a 90% share of the tokenized gold market along with PAX Gold.

The stablecoin issuer Tether has released its verification report for Tether Gold (XAUT) for the third quarter of 2024, confirming that each token is fully backed by physical gold bars in Switzerland. As of September 30, Tether held gold reserves of 375,572 troy ounces, valued at approximately $1.44 billion based on the quarter-end price. Currently, there are 522,089 XAUT in circulation, with an additional 139,751 tokens available for sale, indicating that extra reserves are prepared but not yet distributed. The report emphasizes that XAUT maintains a high level of transparency in the combination of stablecoins and physical assets, becoming a key benchmark for the tokenization of precious metals.

Since the release of the report, driven by the rise in gold prices, the fully reserved market capitalization of XAUT has risen to $2.1 billion, more than doubling from $850 million in August. Together with PAX Gold, the two account for about 90% of the $3.7 billion tokenized gold market. This not only reflects an increased trust of investors in on-chain physical assets but also shows that traditional safe-haven assets are accelerating their migration to blockchain. The strong growth of Tether Gold in the stablecoin and RWA space marks on-chain gold as a new value anchor connecting the crypto and traditional markets. <br> Reference Material:

• Gate, https://www.gate.com/trade/BTC_USDT
• Farside Investors, https://farside.co.uk/btc/
• Gate, https://www.gate.com/trade/ETH_USDT
• 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
• X, https://x.com/t54ai/status/1982809581962052083
• The Block, https://www.theblock.co/post/376682/visa-adding-support-for-four-stablecoins-on-four-unique-blockchains-as-spend-quadrupled-last-quarter?utm_source=twitter&utm_medium=social
• CoinGecko, https://www.coingecko.com/coins/tether-gold

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Disclaimer Investing in the crypto market involves high risks, and users are advised to conduct independent research and fully understand the nature of the assets and products being purchased before making any investment decisions. Gate does not accept any responsibility for any losses or damages caused by such investment decisions.