On December 18, the Bitcoin price dropped below $86,000, falling about 2.09% over the past 24 hours. Meanwhile, Gate’s on-chain staking service is showing a different trend: total BTC staked on the platform is approaching 2,500 coins, offering users a reference annual yield of up to 9.99% in the current market environment.
At the same time, GUSD’s total minted supply has surpassed 201 million, and on-chain staking volumes for major assets like ETH and SOL are also seeing significant growth.
01 Core Data Performance
On-chain staking data from Gate serves as a key indicator of market participation. As of the latest update on December 18, total BTC staked on the platform has exceeded 2,505 coins.
This volume is far above the thousand-coin level seen six months ago, signaling that more investors are choosing to stake their Bitcoin holdings to earn returns.
Alongside this growth, the yield remains attractive. Currently, the reference annual yield for BTC staking is steady at 9.99%. Other major cryptocurrencies within the same ecosystem also offer a tiered yield structure.
GUSD’s reference annual yield reaches as high as 100%, ETH offers 9.82%, and SOL stands at 16.00%. This diverse yield structure gives users greater flexibility in asset allocation.
02 Current Market Environment
The cryptocurrency market is currently at a crossroads shaped by complex macro and micro factors. On December 18, Bitcoin was quoted at approximately $86,174.9, down 1.91% over the previous 24 hours.
This price movement comes amid broader market adjustments. Major U.S. stock indices have been declining, and crypto assets saw sharp rises and pullbacks during early U.S. trading hours.
Bitcoin network hash rate has experienced notable fluctuations. According to Gate Square, total network hash rate recently fell by about 17.25%, mainly due to the shutdown of roughly 400,000 mining machines in Xinjiang.
Hash rate is a core metric for Bitcoin network security and mining costs, and large swings directly impact traditional mining profitability models.
03 Traditional Mining vs. Staking Mining
The profit threshold for traditional physical mining is rising sharply. After the 2024 Bitcoin halving, block rewards dropped from 6.25 BTC to 3.125 BTC, directly squeezing miners’ profit margins.
A miner sharing insights on Gate Square estimated the current Bitcoin mining cost at around $106,000—already above market price—making it difficult for many small miners to continue operating.
In contrast to the high costs and volatility of traditional mining, Gate’s on-chain staking mining offers a more accessible and liquid alternative.
Users can retain ownership of their assets and stake BTC to receive an equivalent amount of GTBTC, thereby earning returns with instant redemption supported. This model lowers both the technical and financial barriers for ordinary users to participate in the Bitcoin network and earn rewards.
04 Industry Trends
Growth in on-chain staking services is not an isolated phenomenon; it reflects a broader shift in the crypto industry from pure speculative trading toward practical financial tools. Institutional investors and long-term holders are increasingly leveraging these services to earn additional yield while maintaining their positions.
The industry’s technical foundation continues to evolve. Despite challenges, Bitcoin network hash rate demonstrated strong resilience after the halving, reaching a peak of 921 EH/s in early May 2025. This highlights the mining sector’s relentless pursuit of efficiency.
Regulation is another key variable shaping global crypto market development. Policies on mining and trading vary widely across jurisdictions, and these differences will continue to impact the global distribution of hash rate and mining cost structures.
05 Mainstream Asset Staking Overview
The staking boom on Gate is not limited to Bitcoin. Staking data for major assets like Ethereum and Solana is equally impressive.
Platform data shows total ETH staked has reached 151,400 coins, while total SOL staked on-chain has climbed to 450,700 coins.
The surge in multi-asset staking reflects investors’ urgent demand for diversified on-chain yield strategies. Compared to Bitcoin’s 9.99% annual yield, SOL offers a higher reference annual yield of 16.00%.
This differentiated yield structure provides a wide range of options for investors with varying risk preferences.
Stablecoin GUSD stands out, with its minted supply exceeding 201 million and a reference annual yield as high as 100%. This demonstrates strong demand for innovative products that combine stablecoins with high returns in a volatile market.
Outlook
The sharp fluctuations in Bitcoin’s network hash rate have coincided with the shutdown of roughly 400,000 mining machines in Xinjiang, while BTC staking volume on Gate has steadily climbed to 2,505 coins.
The path to value realization for digital currencies is quietly shifting from the roar of mining machines to the silent, steady growth of on-chain staking protocols. This marks not only a transformation in asset management, but also an inevitable step in cryptocurrency’s integration into the global financial system.
