Gate Ventures Weekly Crypto Recap (August 10, 2026)

2026-08-1015:32

Gate Ventures

2026-08-10 15:32

Gate Ventures

2026-08-10 15:32

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TL;DR

U.S. Equities Close at Record Highs: The S&P 500 (+3.58% to 7,757.64), Nasdaq Composite (+5.19% to 26,690.62) and Dow Jones Industrial Average (+2.96% to 54,036.93) advanced sharply, led by stronger-than-expected 2Q technology earnings (notably Palantir) and a softer July payrolls print that reinforced expectations for Fed easing.
Crude Retreats: Brent settled at ~US$85.47/bbl and WTI at ~US$77.47/bbl, as diplomatic progress on shipping security in the Strait of Hormuz compressed the supply-risk premium.
Treasury Yields Moderate: The 10-year yield eased to 4.649% as labour-market cooling trimmed rate expectations.
Gold Rallies >7%: Spot gold reached ~US$4,342/oz, supported by lower real yields, a softer U.S. dollar, and sustained central-bank and Asian institutional demand.
STRC recovered to ~US$95 as Strategy strengthened its liquidity position through MSTR issuance, bitcoin sales and an enlarged US$4bn cash reserve.
BlackRock has mandated J.P. Morgan to tokenise its European money market funds.
Nigeria has issued tax-collection rules for digital-asset platforms.
Yellow Card raised US$40mn to expand its global stablecoin infrastructure.

Macro Overview

Record Highs for Equities and Gold Surge as Labor Market Softens

Global financial markets kicked off August with strong bullish momentum during the week ending August 7, 2026. Equity benchmarks pushed into record-high territory, led by a broad resurgence across mega-cap technology and growth sectors. The benchmark S&P 500 index posted its best weekly performance since April, surging 3.58% to close at 7,757.64 points. Meanwhile, the tech-heavy Nasdaq Composite leaped 5.19% to 26,690.62 points, and the Dow Jones Industrial Average rose 2.96% to 54,036.93 points.

The primary catalyst for the market rally was Friday’s U.S. non-farm payrolls (NFP) report, which delivered a clear downside surprise. Non-farm payrolls contracted by 23,000 in July against consensus expectations for an 80,000 gain, accompanied by downward revisions to prior months. While a weakening labor market typically signals economic cooling, traders interpreted the data as a green light for the Federal Reserve to stand pat, abruptly paring back bets on near-term rate hikes and easing concerns over monetary overtightening. Corporate earnings also maintained momentum, with strong reports from enterprise software and AI infrastructure players (e.g., Palantir Technologies) sustaining market enthusiasm.

In energy markets, crude oil extended its downside pullback as geopolitical fears subsided. Headlines regarding diplomatic progress between Iran and Oman to secure oil transit flows through the Strait of Hormuz lowered the supply risk premium. Despite brief midweek volatility from localized Persian Gulf headlines, Brent crude dropped to US$85.465 per barrel (down from US$94.935 the previous week), while WTI crude eased to US$77.469 per barrel (down from US$91.465).

In fixed income and currencies, government bond yields reversed their previous hawkish push as rate-hike expectations unwound. The 10-year Treasury yield fell from 4.718% to 4.649%, while the U.S. Dollar Index (DXY) softened toward the 99.30 level, closing at 99.60 on Friday. Lower real yields and a weaker greenback provided massive tailwinds for precious metals, propelling spot gold up by more than 7% to close near US$ 4,342 per ounce.

Asset Class Highlights

The U.S. Dollar Index (DXY) weakened during the week, hovering near key technical support around 99.30. The greenback lost traction following the unexpectedly soft U.S. labor market data, which removed immediate pressure on the Fed to hike rates. Additionally, reduced haven demand — stemming from calmer Persian Gulf headlines — kept the dollar offered across major currency pairs. (2)

**U.S. 10-Year and 30-Year Treasury Yields**

Government bond yields retreated across the curve as fixed-income markets re-priced the Federal Reserve's monetary policy path after the softer employment report. The 10-year Treasury yield fell by approximately 7 basis points to close at ~4.65% (down from ~4.72% the prior week), while the 30-year yield moderated to ~5.20% (down from ~5.27%). (3)

Spot gold experienced a major breakout over the week, surging 7.3% to close at ~US$4,342 per ounce (up from US$4,045). A combination of falling Treasury yields, reduced expectations for Federal Reserve rate hikes, and persistent physical and ETF buying from Chinese institutional investors drove the precious metal back toward record territory. (4)

Crypto Markets Overview

1. Main Assets

BTC rose 2.1% last week, outperforming ETH, which gained 1.4%. As a result, the ETH/BTC ratio fell 0.7%.ETF flows improved notably, with BTC ETFs recording $853M in net inflows, while ETH ETFs saw $244.9M in net inflows. (5)

Despite the positive price action and stronger ETF demand, market sentiment remained in the Fear zone at 30. (6)

2. Total Market Cap

Crypto Total Marketcap Excluding BTC and ETH

Crypto Total Marketcap Excluding Top 10 Dominance

Total crypto market cap rose 1.4% last week, while market cap excluding BTC and ETH remained flat. Meanwhile, market cap excluding the top 10 cryptocurrencies fell 0.3%, suggesting the recovery remained concentrated in larger-cap assets.

CLARITY Act moves to a September vote. Senate Majority Leader John Thune filed cloture before the recess, setting up a procedural vote around September 15. (7)

3. STRC Performance

STRC recorded US$734M in trading volume last week and continued to trade below par, though its price recovered to around US$95.

During the period, Strategy raised US$290.6M through MSTR issuance and sold 1,638 BTC for US$104.7M, while increasing its USD reserve to US$4.0B. The stronger liquidity buffer helped restore investor confidence in Strategy’s ability to sustain STRC dividend payments. (8)

The next STRC record date is August 15, under its new semi-monthly dividend schedule. With STRC still trading below its $100 stated value and offering a 12% annualized dividend rate, near-term buying demand could remain supportive as investors position ahead of the upcoming distribution.

However, part of this dividend demand is likely already priced in, and the share price may adjust after the ex-dividend date.

4. Top 30 Crypto Assets Performance

Source: Coinmarketcap and Gate Ventures, as of 10th Aug 2026

The top 30 cryptocurrencies fell 2% on average last week, with Monero, Zcash and Cardano among the strongest performers.

Zcash rose 6.4%, supported by anticipation around its upcoming NU7 governance vote, which begins on August 25. The vote will use Zcash’s new Tokenholder Voting Chain and determine the scope of several proposed protocol changes. (9)

Cardano gained 5.4% as ADA futures volume jumped roughly 380%, from about $150M to $650M in a week. On-chain data also showed renewed whale accumulation, with large wallets adding around 240M ADA over the past several days. (10)

The Key Crypto Highlights

1. Grayscale files for first US Worldcoin ETF

Grayscale has filed an S-1 registration statement for the first US Worldcoin ETF, which would give investors regulated exchange-traded exposure to WLD without directly holding the token. The proposed Grayscale Worldcoin ETF is expected to list on Nasdaq under the ticker GWLD, with BitGo Bank & Trust serving as custodian and BNY Mellon as administrator and transfer agent; management fees, seed capital and authorized participants have not yet been disclosed. (11)

2. BlackRock taps JPMorgan to tokenize European money market funds

BlackRock will launch tokenized versions of select European money market funds using JPMorgan’s Kinexys blockchain infrastructure, covering GBP, EUR and USD share classes within its US$311B Institutional Cash Series. Each token will represent an underlying fund share and can be transferred 24/7 between approved digital wallets, enabling more efficient collateral movement and treasury transfers, while JPMorgan continues to act as transfer agent. (12)

3. Nigeria sets crypto tax collection rules for digital asset platforms

Nigeria has introduced new crypto tax guidelines requiring exchanges and P2P marketplaces to withhold, report and remit taxes on digital-asset transactions. Platforms must withhold 1% on taxable crypto disposals and 10% on staking, mining, airdrop and DeFi income, while fiat-to-crypto and crypto-to-fiat transfers face a 1.5% stamp duty; notably, stablecoin sales are exempt from the 1% withholding tax. (13)

Key Ventures Deals

1. Yellow Card raises US$40M to expand global stablecoin infrastructure

Yellow Card has raised US$40M in strategic funding from investors including SC Ventures by Standard Chartered, Sony Innovation Fund, Polychain Capital and Blockchain Capital, bringing its total equity funding to over US$120M. The capital will be used to scale its Global USD Accounts and stablecoin payment rails beyond Africa into Latin America and Asia-Pacific, building on more than US$10B in transaction volume, support for 50+ currencies and licenses across 22 jurisdictions. (14)

2. JPYC raises ¥6B to accelerate yen stablecoin adoption

JPYC has completed an extension of its Series B round, bringing total Series B funding to approximately ¥6B, with Japanese logistics group AZ-COM Maruwa Holdings joining as a new investor. The company plans to use the capital to expand JPYC’s ecosystem across finance and Web3 and accelerate real-world adoption of its 1:1 yen-backed stablecoin, including payments, physical retail use cases and broader onchain finance infrastructure.(15)

3. Vangrid raises US$9M to build spatial data network for Physical AI

Vangrid has raised US$9M in an SAFT token round backed by HashKey, Borderless, Crypto.com Capital, Animoca Brands, Gate Labs and Mapleblock Capital to expand its DePIN-based spatial data network. The platform pays contributors to capture real-world locations, converts the data into verified 3D spatial models onchain, and targets demand from robotics, autonomous agents, digital models, and other Physical AI applications. (16)

Ventures Market Metrics

The number of deals closed in the previous week was 8, with Infra having 6 deals, Data and GameFi having 1 deal respectively.

Weekly Venture Deal Summary, Source: Cryptorank and Gate Ventures, as of 10th August 2026

The total amount of disclosed funding raised in the previous week was $90.64M. 3 deals did not disclose the fundraising amount. The top funding came from the Infra sector with $80.64M. Most funded deals: Yellow Card ($40M).

Weekly Venture Deal Summary, Source: Cryptorank and Gate Ventures, as of 10th Aug 2026

Total weekly fundraising surged to $90.64M for the second week of August 2026, an increase of 286% compared to the week prior.

About Gate Ventures

Gate Ventures, the venture capital arm of Gate.com, is focused on investments in decentralized infrastructure, middleware, and applications that will reshape the world in the Web 3.0 age. Working with industry leaders across the globe, Gate Ventures helps promising teams and startups that possess the ideas and capabilities needed to redefine social and financial interactions.

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