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Gate Research: Letsbonk Metrics Surpass Pump.fun, Fueling BONK Surge | UAE Clarifies Crypto Investors Not Eligible for Golden Visa

Gate Research: Letsbonk Metrics Surpass Pump.fun, Fueling BONK Surge | UAE Clarifies Crypto Investors Not Eligible for Golden Visa

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ResearchDaily ReportAltcoinsTradingMacro Trends
7/7/2025, 6:42:43 AM
Gate Research Daily Report: On July 7th, BTC price is currently ranging narrowly around 109,531.9 USDT; ETH is consolidating within the 2,570-2,580 USDT range. Letsbonk generated over $1 million in fee revenue in the past 24 hours, surpassing Pump.fun and Sky; Block CEO Jack Dorsey launched bitchat, a decentralized peer-to-peer chat app; UAE officials clarified that cryptocurrency investors are not eligible for the golden visa program.

Crypto Market Overview

BTC (0.92% | Current price: 109,197 USDT) : BTC began a steady climb from around 105,000 USDT. After briefly breaking above 110,000 USDT, it saw a slight pullback and is now consolidating narrowly around 109,531.9 USDT. Whether BTC can firmly break and hold above 110,000 USDT will be key to determining its next move. With markets closed on July 4th, data from July 3rd shows BTC ETFs had a net inflow of $601 million, including $224 million into BlackRock’s IBIT and $237 million into Fidelity’s FBTC, signaling that institutions continue to increase their allocations to Bitcoin.
ETH (0.69% | Current price: 2,576 USDT): ETH staged a strong rebound, surging from around 2,500 USDT and briefly breaking above 2,600 USDT before slipping back to consolidate in the 2,570–2,580 USDT range. The top of the previous downtrend channel and recent rebound highs around 2,600–2,620 USDT now form short-term resistance. A decisive breakout and hold above this level would be critical for ETH to continue its upward momentum. With markets closed on July 4th, data from July 3rd shows ETH ETFs had a net inflow of $148 million, including $85.4 million into BlackRock’s ETHA and $64.6 million into Fidelity’s FETH.
Altcoins: Some major altcoins saw modest declines, but overall long/short ratio data indicates that bulls still hold an advantage for most mainstream altcoins. The Fear & Greed Index today stands at 73, remaining in the “Greed” zone, suggesting market sentiment is positive but caution is needed against potential overheating.
Macro: U.S. markets were closed on July 4th for Independence Day. On July 3rd, the S&P 500 rose 0.83% to 6,279.35 points; the Dow Jones increased 0.77% to 44,828.53 points; and the Nasdaq gained 1.02% to 20,601.10 points. As of July 7th, 2:30 AM (UTC), spot gold is trading at $3,315 per ounce, down 0.65% over the past 24 hours.

Trending Tokens

BONK Bonk (+14.49%, Circulating Market Cap: $1.772 billion)

According to Gate market data, BONK is currently trading at $0.000022474, up approximately 14.49% over the past 24 hours. BONK is a dog-themed meme token built on the Solana blockchain, designed to bring liquidity to the Solana ecosystem and encourage community interaction and rewards through diverse applications. Since its launch in December 2022, it has become one of the most iconic community tokens on Solana.

Previously, BONK’s price surged strongly, fueled by optimism over ETF filings. In this rally, the standout performance of the community-backed Letsbonk project may have further boosted demand: over the past 24 hours, the number of tokens launched on the Letsbonk.fun platform surpassed Pump.fun for the first time, significantly increasing market attention and demand for BONK. This trend reflects rising community engagement and capital inflows, providing additional buying support and pushing prices higher.

TIA Celestia (+10.27%, Circulating Market Cap: $1.152 billion)

According to Gate market data, TIA is now priced at $1.628, up 10.27% in the last 24 hours. TIA is the native token of Celestia, a modular blockchain network that offers Web3 developers plug-and-play data availability (DA) layer solutions. Celestia’s key innovations include Data Availability Sampling (DAS) and Namespaced Merkle Trees (NMT), making it easier for projects to integrate DA capabilities.

Previously, Celestia’s transition to proof-of-governance and the reduction in TIA inflation sparked market controversy, leading to a significant price correction. After an extended period of decline and sideways consolidation, TIA saw a clear rebound on the 7th: the price quickly surged from around $1.45 USDT, breaking through key resistance levels at $1.50 and $1.60, with rising trading volume from the bottom attracting further capital and lifting the price above $1.64 USDT. This rally was mainly driven by renewed technical strength, increased buying interest, and improving market sentiment, suggesting TIA could maintain its bullish momentum in the short term.

SPX SPX6900 (+10.68%, Circulating Market Cap: $1.245 billion)

According to Gate market data, SPX is trading at $1.3418, up approximately 10.68% over the past 24 hours. SPX6900 is a new meme token inspired by the S&P 500 Index, featuring community-driven growth and technological innovation, and introducing the concept of an SPX6900 index backed by 6,900 different assets.

Amid easing regulations and growing excitement around Real World Assets (RWA), tokenized stocks have become a hot topic, with platforms like Gate, Robinhood, and xStocks rapidly launching related products. As a token linked to the stock index narrative, SPX6900 saw significant buying interest after a long period of sideways trading: on the 7th, the price jumped from around $1.20 USDT, breaking through multiple short-term resistance levels and peaking above $1.35 USDT. This move reflects strong market enthusiasm for the tokenized stocks sector and a bullish short-term sentiment among traders.

Alpha Insights

Letsbonk’s 24-hour fee revenue surpasses $1 million, overtaking Pump.fun and Sky

According to DefiLlama data, on July 7, meme token launch platform Letsbonk generated $1.04 million in fee revenue over the past 24 hours, surpassing Pump.fun ($920,000) and Sky ($950,000), ranking 16th among all blockchain protocols by fee income.

Letsbonk achieved this surge in revenue and activity largely thanks to its simpler token launch process and lower entry barriers, which significantly reduced user participation costs. Meanwhile, the platform’s active community and trending topics have driven a sharp increase in token launches and graduations: recently, Letsbonk.Fun saw 16,802 meme tokens launched in a single day, far exceeding Pump.fun’s 9,908; the number of tokens “graduating” also reached 182, ahead of Pump.fun’s 31. In addition, the platform recorded over 37,000 active addresses—second only to Pump.fun’s 88,000—further highlighting growing user engagement and capital inflows.

Block CEO Jack Dorsey launches decentralized peer-to-peer chat app bitchat

Jack Dorsey, CEO of Block, recently announced the launch of a decentralized peer-to-peer chat application called bitchat. On X, Dorsey described it as a weekend project to explore Bluetooth mesh networks, relay and store-and-forward mechanisms, message encryption models, and more. According to its GitHub page, bitchat enables local communication entirely over a Bluetooth mesh network without the need for the internet, servers, or phone numbers, offering fully encrypted peer-to-peer chat with an IRC-style design philosophy.

While bitchat is currently an experimental personal project, it represents a fresh direction for decentralized communication: built on Bluetooth mesh and encryption, it allows users to chat privately and directly even without network access or central servers. This aligns closely with user demands for privacy and censorship resistance, as well as Dorsey’s long-standing vision of an open network. For the industry, bitchat offers a new approach to decentralized social tools and offline applications, potentially inspiring more developers to create communication solutions free from centralized dependencies and demonstrating real-world value in network outages or special scenarios—injecting new possibilities into the Web3 communication ecosystem.

UAE officials clarify: cryptocurrency investors do not qualify for golden visas

Recently, claims circulated on some websites and social media that the UAE was offering golden visas to cryptocurrency investors, sparking heated discussion. In response, the UAE Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA) jointly issued an official statement denying these reports. The statement clarified that golden visas are governed by a clear legal framework and are granted to real estate investors, exceptional talents, scientists and experts, outstanding students and graduates, humanitarian pioneers, and frontline workers—but not to cryptocurrency investors.The SCA also reiterated that digital asset investments are regulated under dedicated financial laws and are unrelated to golden visa policies, urging investors to verify information through official channels. VARA confirmed it has never authorized Dubai to grant golden visas to virtual asset investors, and specifically clarified that the TON project has not received its approval or oversight.

Previously, TON announced a plan to collaborate with the UAE to offer 10-year golden visas to eligible TON token stakers, requiring a $100,000 stake and a one-time $35,000 service fee—drawing widespread attention.

This market hype around TON and golden visas serves as a reminder to be cautious of aggressive or misleading marketing campaigns, and reflects the UAE’s clear stance on digital asset regulation: while virtual assets are supported and regulated, they are not included in long-term immigration or residency incentive policies. In the short term, this clarification may curb some projects from using immigration benefits for marketing and remind investors of the potential risks behind promises of “visa perks.” Over the longer term, it underscores the importance of compliance and transparency for the growth of the digital asset industry: projects seeking recognition from sovereign nations must strictly adhere to local laws and regulations rather than relying on marketing hype to attract users.

Gate Launchpool

  • Project: Infinity Ground
  • Token name: AIN
  • Subscription deadline: Until July 10, 2025, 12:00 (UTC)
  • How to participate: Stake BTC or AIN to receive free rewards
  • Total airdrop: 1,200,000 AIN

Project Introduction

Infinity Ground is a blockchain infrastructure project targeting “Vibe Coders,” offering a decentralized AI agent IDE, an AI application marketplace, and its proprietary public chain, the ING Network. The platform allows users to create DApps—including games, social apps, and DeFi applications—using natural language commands.


References



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 cryptocurrency markets involves high risk. Users are advised to conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such decisions.

Author: Ember
Reviewer(s): Shirley, Mark
* The information is not intended to be and does not constitute financial advice or any other recommendation of any sort offered or endorsed by Gate.
* This article may not be reproduced, transmitted or copied without referencing Gate. Contravention is an infringement of Copyright Act and may be subject to legal action.

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Content

Crypto Market Overview

Trending Tokens

Alpha Insights

Gate Launchpool

Gate Research: Letsbonk Metrics Surpass Pump.fun, Fueling BONK Surge | UAE Clarifies Crypto Investors Not Eligible for Golden Visa

Advanced7/7/2025, 6:42:43 AM
Gate Research Daily Report: On July 7th, BTC price is currently ranging narrowly around 109,531.9 USDT; ETH is consolidating within the 2,570-2,580 USDT range. Letsbonk generated over $1 million in fee revenue in the past 24 hours, surpassing Pump.fun and Sky; Block CEO Jack Dorsey launched bitchat, a decentralized peer-to-peer chat app; UAE officials clarified that cryptocurrency investors are not eligible for the golden visa program.
ResearchDaily ReportAltcoinsTradingMacro Trends

Crypto Market Overview

Trending Tokens

Alpha Insights

Gate Launchpool

Crypto Market Overview

BTC (0.92% | Current price: 109,197 USDT) : BTC began a steady climb from around 105,000 USDT. After briefly breaking above 110,000 USDT, it saw a slight pullback and is now consolidating narrowly around 109,531.9 USDT. Whether BTC can firmly break and hold above 110,000 USDT will be key to determining its next move. With markets closed on July 4th, data from July 3rd shows BTC ETFs had a net inflow of $601 million, including $224 million into BlackRock’s IBIT and $237 million into Fidelity’s FBTC, signaling that institutions continue to increase their allocations to Bitcoin.
ETH (0.69% | Current price: 2,576 USDT): ETH staged a strong rebound, surging from around 2,500 USDT and briefly breaking above 2,600 USDT before slipping back to consolidate in the 2,570–2,580 USDT range. The top of the previous downtrend channel and recent rebound highs around 2,600–2,620 USDT now form short-term resistance. A decisive breakout and hold above this level would be critical for ETH to continue its upward momentum. With markets closed on July 4th, data from July 3rd shows ETH ETFs had a net inflow of $148 million, including $85.4 million into BlackRock’s ETHA and $64.6 million into Fidelity’s FETH.
Altcoins: Some major altcoins saw modest declines, but overall long/short ratio data indicates that bulls still hold an advantage for most mainstream altcoins. The Fear & Greed Index today stands at 73, remaining in the “Greed” zone, suggesting market sentiment is positive but caution is needed against potential overheating.
Macro: U.S. markets were closed on July 4th for Independence Day. On July 3rd, the S&P 500 rose 0.83% to 6,279.35 points; the Dow Jones increased 0.77% to 44,828.53 points; and the Nasdaq gained 1.02% to 20,601.10 points. As of July 7th, 2:30 AM (UTC), spot gold is trading at $3,315 per ounce, down 0.65% over the past 24 hours.

Trending Tokens

BONK Bonk (+14.49%, Circulating Market Cap: $1.772 billion)

According to Gate market data, BONK is currently trading at $0.000022474, up approximately 14.49% over the past 24 hours. BONK is a dog-themed meme token built on the Solana blockchain, designed to bring liquidity to the Solana ecosystem and encourage community interaction and rewards through diverse applications. Since its launch in December 2022, it has become one of the most iconic community tokens on Solana.

Previously, BONK’s price surged strongly, fueled by optimism over ETF filings. In this rally, the standout performance of the community-backed Letsbonk project may have further boosted demand: over the past 24 hours, the number of tokens launched on the Letsbonk.fun platform surpassed Pump.fun for the first time, significantly increasing market attention and demand for BONK. This trend reflects rising community engagement and capital inflows, providing additional buying support and pushing prices higher.

TIA Celestia (+10.27%, Circulating Market Cap: $1.152 billion)

According to Gate market data, TIA is now priced at $1.628, up 10.27% in the last 24 hours. TIA is the native token of Celestia, a modular blockchain network that offers Web3 developers plug-and-play data availability (DA) layer solutions. Celestia’s key innovations include Data Availability Sampling (DAS) and Namespaced Merkle Trees (NMT), making it easier for projects to integrate DA capabilities.

Previously, Celestia’s transition to proof-of-governance and the reduction in TIA inflation sparked market controversy, leading to a significant price correction. After an extended period of decline and sideways consolidation, TIA saw a clear rebound on the 7th: the price quickly surged from around $1.45 USDT, breaking through key resistance levels at $1.50 and $1.60, with rising trading volume from the bottom attracting further capital and lifting the price above $1.64 USDT. This rally was mainly driven by renewed technical strength, increased buying interest, and improving market sentiment, suggesting TIA could maintain its bullish momentum in the short term.

SPX SPX6900 (+10.68%, Circulating Market Cap: $1.245 billion)

According to Gate market data, SPX is trading at $1.3418, up approximately 10.68% over the past 24 hours. SPX6900 is a new meme token inspired by the S&P 500 Index, featuring community-driven growth and technological innovation, and introducing the concept of an SPX6900 index backed by 6,900 different assets.

Amid easing regulations and growing excitement around Real World Assets (RWA), tokenized stocks have become a hot topic, with platforms like Gate, Robinhood, and xStocks rapidly launching related products. As a token linked to the stock index narrative, SPX6900 saw significant buying interest after a long period of sideways trading: on the 7th, the price jumped from around $1.20 USDT, breaking through multiple short-term resistance levels and peaking above $1.35 USDT. This move reflects strong market enthusiasm for the tokenized stocks sector and a bullish short-term sentiment among traders.

Alpha Insights

Letsbonk’s 24-hour fee revenue surpasses $1 million, overtaking Pump.fun and Sky

According to DefiLlama data, on July 7, meme token launch platform Letsbonk generated $1.04 million in fee revenue over the past 24 hours, surpassing Pump.fun ($920,000) and Sky ($950,000), ranking 16th among all blockchain protocols by fee income.

Letsbonk achieved this surge in revenue and activity largely thanks to its simpler token launch process and lower entry barriers, which significantly reduced user participation costs. Meanwhile, the platform’s active community and trending topics have driven a sharp increase in token launches and graduations: recently, Letsbonk.Fun saw 16,802 meme tokens launched in a single day, far exceeding Pump.fun’s 9,908; the number of tokens “graduating” also reached 182, ahead of Pump.fun’s 31. In addition, the platform recorded over 37,000 active addresses—second only to Pump.fun’s 88,000—further highlighting growing user engagement and capital inflows.

Block CEO Jack Dorsey launches decentralized peer-to-peer chat app bitchat

Jack Dorsey, CEO of Block, recently announced the launch of a decentralized peer-to-peer chat application called bitchat. On X, Dorsey described it as a weekend project to explore Bluetooth mesh networks, relay and store-and-forward mechanisms, message encryption models, and more. According to its GitHub page, bitchat enables local communication entirely over a Bluetooth mesh network without the need for the internet, servers, or phone numbers, offering fully encrypted peer-to-peer chat with an IRC-style design philosophy.

While bitchat is currently an experimental personal project, it represents a fresh direction for decentralized communication: built on Bluetooth mesh and encryption, it allows users to chat privately and directly even without network access or central servers. This aligns closely with user demands for privacy and censorship resistance, as well as Dorsey’s long-standing vision of an open network. For the industry, bitchat offers a new approach to decentralized social tools and offline applications, potentially inspiring more developers to create communication solutions free from centralized dependencies and demonstrating real-world value in network outages or special scenarios—injecting new possibilities into the Web3 communication ecosystem.

UAE officials clarify: cryptocurrency investors do not qualify for golden visas

Recently, claims circulated on some websites and social media that the UAE was offering golden visas to cryptocurrency investors, sparking heated discussion. In response, the UAE Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA) jointly issued an official statement denying these reports. The statement clarified that golden visas are governed by a clear legal framework and are granted to real estate investors, exceptional talents, scientists and experts, outstanding students and graduates, humanitarian pioneers, and frontline workers—but not to cryptocurrency investors.The SCA also reiterated that digital asset investments are regulated under dedicated financial laws and are unrelated to golden visa policies, urging investors to verify information through official channels. VARA confirmed it has never authorized Dubai to grant golden visas to virtual asset investors, and specifically clarified that the TON project has not received its approval or oversight.

Previously, TON announced a plan to collaborate with the UAE to offer 10-year golden visas to eligible TON token stakers, requiring a $100,000 stake and a one-time $35,000 service fee—drawing widespread attention.

This market hype around TON and golden visas serves as a reminder to be cautious of aggressive or misleading marketing campaigns, and reflects the UAE’s clear stance on digital asset regulation: while virtual assets are supported and regulated, they are not included in long-term immigration or residency incentive policies. In the short term, this clarification may curb some projects from using immigration benefits for marketing and remind investors of the potential risks behind promises of “visa perks.” Over the longer term, it underscores the importance of compliance and transparency for the growth of the digital asset industry: projects seeking recognition from sovereign nations must strictly adhere to local laws and regulations rather than relying on marketing hype to attract users.

Gate Launchpool

  • Project: Infinity Ground
  • Token name: AIN
  • Subscription deadline: Until July 10, 2025, 12:00 (UTC)
  • How to participate: Stake BTC or AIN to receive free rewards
  • Total airdrop: 1,200,000 AIN

Project Introduction

Infinity Ground is a blockchain infrastructure project targeting “Vibe Coders,” offering a decentralized AI agent IDE, an AI application marketplace, and its proprietary public chain, the ING Network. The platform allows users to create DApps—including games, social apps, and DeFi applications—using natural language commands.


References



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 cryptocurrency markets involves high risk. Users are advised to conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such decisions.

Author: Ember
Reviewer(s): Shirley, Mark
* The information is not intended to be and does not constitute financial advice or any other recommendation of any sort offered or endorsed by Gate.
* This article may not be reproduced, transmitted or copied without referencing Gate. Contravention is an infringement of Copyright Act and may be subject to legal action.
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