Gate Ventures: Market rebounds in stages but divergence continues; capital inflows and structural repairs occur in parallel.

According to the latest weekly report from Gate Ventures, a temporary easing of macroeconomic risks has driven a market rebound. Last week, the S&P 500 rose 3.48%, the Nasdaq rose 4.12%, and WTI crude oil fell by over 14% in a single week. The crypto market also saw a recovery, with BTC rising 2.5% and ETH rising 3.9%, accompanied by net inflows into spot ETFs, with approximately $786 million into BTC and $187 million into ETH. However, market sentiment remains in the "extreme fear" zone, and the pace of capital inflows is relatively cautious. In terms of asset and industry dynamics, structural opportunities continue to emerge. Benefiting from fundamental improvements brought about by network performance upgrades, TON rose 15.9%. Meanwhile, the Hong Kong Monetary Authority issued the first batch of stablecoin licenses to Anchorpoint and HSBC, marking the formal establishment of a compliant digital currency framework. Funding activity remained relatively high, with 11 deals completed last week, disclosing a total funding amount of approximately $73.7 million, a significant rebound from the previous week. Funds primarily flowed into infrastructure and early-stage innovation sectors. Overall, while the market has seen a temporary recovery, structural differentiation continues, with funds and narratives gradually concentrating on sectors with strong fundamentals and compliance support.