TL;DR

• BTC and ETH are showing a fluctuating upward trend. The current price of BTC is $105,997.4.
• The market capitalization of Solana stablecoins has surpassed $10 billion, growing by 69.5% in the past 7 days.
• MicroStrategy has purchased 11,000 bitcoins, bringing its total holdings to 461,000 bitcoins.
• Hyperliquid’s 24-hour trading volume has surpassed $22 billion, with an open contract volume of $4.7 billion.
• Bitcoin mining company MARA Holdings is committed to bringing its strategic Bitcoin reserve plan to all 50 U.S. states and the federal government.

Market Analysis

• BTC – The price of BTC has risen by 3.78% in the past 24 hours, with the current price at $105,997.4. Recently, BTC has been showing a fluctuating upward trend, with the price rising from $101,200 to $107,200 before a slight pullback. The price is currently facing resistance at the $107,200 level. The moving averages are gradually stabilizing, with trading volume decreasing, indicating a calmer market sentiment[1].

• ETH – The price of ETH has increased by 2.61% in the past 24 hours, with the current price at $3,342.02. The recent trend shows a fluctuating upward movement, but ETH is currently entering a triangular convergence pattern, with the price range narrowing. This reflects that both the bulls and bears are seeking balance. Technically, the short- and mid-term moving averages are in a bullish arrangement, supporting the overall upward trend, but trading volume has recently dropped, so attention should be paid to confirming the breakout direction[2].

• ETF – According to data from SoSoValue, on January 21, the total net inflow into the U.S. Bitcoin spot ETF was $140 million[3], and the total net inflow into the U.S. Ethereum spot ETF was $74.43 million, with data as of 5 AM UTC+0 on January 22[4].
• Altcoins – The AI Framework, Made in USA, and AI Agents sectors saw changes of +23.6%, +16.6%, and +13.6%, respectively[5].
• U.S. Stock Indices – The S&P 500 index remained unchanged, the Dow Jones index rose by 1.24%, and the Nasdaq index grew by 0.64%[6].
• Spot Gold – The price of spot gold reached $2,751.37 per ounce, with a daily increase of 0.24%[7].
• Fear and Greed Index – The Fear and Greed Index stands at 84, indicating that the market is in an extreme state of greed[8].

Top Performers

According to Gate.io market data [9], based on trading volume and price performance over the past 24 hours, the top-performing altcoins are as follows:

PLUME (Plume Network) – The price increased by approximately 716.5% in a single day, with a circulating market cap of $326 million.
Plume focuses on building a Layer 1 blockchain for Real World Asset Finance (RWAFi). Its goal is to digitize traditional assets such as real estate, bonds, and stocks through blockchain technology, and integrate them into the decentralized finance (DeFi) ecosystem, enabling transparent and efficient asset trading, financing, and management[10].
$PLUME was listed on Gate.io’s trading market on January 21. As real-world assets worth over $1 trillion, such as commodities, bonds, and stocks, are gradually being introduced into the blockchain space, Plume Network, as an L1 blockchain focused on RWAs, has benefited from this market trend. This has attracted attention to the project’s future potential and driven the token price higher.

VTHO (VeThor) – The price increased by approximately 326.82% in a single day, with a circulating market cap of $695 million.
VTHO is the VIP-180 standard token in the VeChainThor public blockchain, and its uniqueness lies in its dual-token design. The VeChainThor blockchain is known for its high processing speed and open-source design, which supports collaborative development by developers. Additionally, its meta-transaction feature supports multi-party payments and multi-task transactions, allowing enterprise users to leverage blockchain technology more flexibly[11].

VeChain’s recent launch of the B3TR reward program, which links daily activities with digital assets, has further enhanced user participation in the ecosystem and governance. These activities have increased the practical use value and social influence of the VeChain ecosystem, resulting in increased demand for the VTHO token and driving its price up.

ACP (Arena of Faith) – The price increased by approximately 137.7% in a single day, with a circulating market cap of $97.33 million.
ACP is the native platform token of the Arena of Faith ecosystem, supporting various types of games such as MOBA, ACT, and ARPG. Arena of Faith is a Web3-based MOBA game that can seamlessly run in both Web2 and Web3 environments, providing a cross-platform gaming experience through global servers[12].
$ACP was listed on Gate.io’s spot trading market on January 21, drawing market attention to this ecosystem token. Additionally, the multi-scenario token burn mechanism introduced by Arena of Faith effectively reduced the market circulation. The $ACP burn operations include in-game functions, NFT minting, DeFi staking, and platform revenue sharing. Furthermore, the platform recently announced a one-time burn of nearly 977,000 $ACP tokens, enhancing the token’s scarcity. With its innovative ecosystem design and ongoing market promotion, $ACP saw a significant price increase as the ecosystem expanded and investor confidence grew.

Data Highlights

Solana Stablecoin Market Cap Surpasses $10 Billion, Up 69.5% in 7 Days

The total market capitalization of Solana stablecoins has reached $10 billion, with a 69.5% increase over the past 7 days. USDC holds 78.5% of the market share in the Solana stablecoin market. The market cap of Solana stablecoins remained stable until October 2024, but began showing slow growth in November. By the beginning of 2025, the stablecoin market cap experienced accelerated growth, reflecting the growing prosperity of the Solana blockchain ecosystem[13].

Hyperliquid 24-Hour Trading Volume Surpasses $22 Billion, Open Interest Reach $4.7 Billion

Hyperliquid has set a new trading volume record, with two consecutive days of trading volume exceeding $22 billion, breaking the platform’s all-time daily trading record. The total open interest volume reached $4.7 billion. The recent boom in the cryptocurrency market and the heightened market sentiment have driven a surge in trading volumes across multiple platforms. This phenomenon indicates an unprecedented level of market activity and demand for trading, attracting a large number of investors and traders. Additionally, as a decentralized trading platform, Hyperliquid has gained favor among traders due to its efficient and convenient trading experience[14].

MicroStrategy Acquires 11,000 Bitcoins, Now Holding 461,000 Bitcoins

MicroStrategy, a U.S. business intelligence company known for providing data analytics and data-driven solutions, has become a focal point in the cryptocurrency market due to its strategy of aggressively purchasing Bitcoin as a major asset.
According to a Form 8-K filed by MicroStrategy on January 21, the company acquired 11,000 bitcoins by selling more than 3 million shares of its stock, totaling around $1.1 billion, with an average purchase price of approximately $101,191 per Bitcoin. The company reported a 1.69% return on Bitcoin purchases from the beginning of 2025 to date. Currently, MicroStrategy holds a total of 461,000 bitcoins, with an aggregate purchase cost nearing $29.3 billion[15].

Spotlight Analysis

Bitcoin Mining Company MARA Holdings Committed to Expanding Strategic Bitcoin Reserve Plan to All 50 U.S. States and Federal Government

According to Cointelegraph, Fred Thiel, the CEO of the Bitcoin mining company MARA Holdings, stated on X that the company is dedicated to expanding its strategic Bitcoin reserve plan to all 50 U.S. states and the federal government. MARA currently holds 26,747 bitcoins, of which 20,266 were mined in-house at an average cost of $43,805 per Bitcoin, and 6,481 were purchased at an average cost of $60,022 per Bitcoin. MARA is diversifying its business into areas such as artificial intelligence and high-performance computing infrastructure. Additionally, MARA recently acquired computing resources, including two data centers in Ohio, as part of its diversification strategy[16].

Circle Minted 2.5 Billion USDC on Solana

The launch of $TRUMP has caused a stir in the cryptocurrency market. In just 4 days since its launch, Circle has minted 2.5 billion USDC on the Solana network. Circle stated that this minting expansion was in response to the growing demand for USDC, especially due to the rapid expansion of decentralized finance (DeFi) and GameFi ecosystems on Solana. The popularity of $TRUMP may have spurred demand for stablecoins, attracting a large inflow of capital. This could further strengthen USDC’s position in the market and promote the development of the Solana ecosystem[17].

EigenLayer Launches Rewards v2 Protocol

EigenLayer announced that its Rewards v2 protocol upgrade went live on the mainnet on January 21, marking the successful execution of EigenLayer Improvement Proposal (ELIP-001). This upgrade introduces three core features: operator-oriented rewards, variable operator fees, and batch reward claims. These features provide greater flexibility and efficiency to the EigenLayer ecosystem, enabling AVS to dynamically incentivize operators to meet more specific needs[18].

The launch of Rewards v2 not only enhances the customization of the reward mechanism but also significantly optimizes economic incentives and operational efficiency. By introducing the EigenGov governance process, it lays a transparent and collaborative foundation for future improvement proposals. This upgrade demonstrates EigenLayer’s forward-thinking approach in promoting the efficiency and flexibility of decentralized networks, providing a solid foundation for continued innovation.

Funding News

According to RootData, in the past 24 hours, two projects secured funding, with a total raised amount exceeding $6.6 million. The largest single investment reached $5.6 million. These projects are involved in the DePIN and DeFi sectors. Here are the details of the funding:[19]

Wingbits – Wingbits completed a $5.6 million funding round, with participation from Borderless Capital, Bullish Capital, and others. The company is developing a reward-based flight tracking system using cryptographically secure ADS-B receivers. Wingbits is a decentralized physical infrastructure startup focused on the aviation sector. Its goal is to offer reward-based flight tracking services through cryptographically secure automatic dependent surveillance-broadcast receivers. Wingbits’ solution aims to decentralize the process of collecting and using flight data, enabling data creators to benefit, while also providing high-quality data support to airlines, airports, and other industries[20].

SONEX – SONEX raised $1 million in a seed round, with investments from Outliers Fund, Baboon VC, and others. The funds will be used to enhance SONEX’s technical infrastructure and enable advanced features such as derivative trading and peer-to-peer trading pools. SONEX is a next-generation decentralized trading platform based on the Soneium ecosystem, combining blockchain technology with artificial intelligence to offer users a secure, efficient, and user-friendly cryptocurrency trading experience. SONEX supports derivative trading, peer-to-peer trading pools, and collaborates with AI agents through a multi-agent framework. Users can tokenize and co-manage these agents, exploring new revenue sources[21].

Airdrop Opportunities

Aiden Labs

Aiden is a decentralized interactive search platform that integrates blockchain technology and artificial intelligence, aiming to overcomethe limitations of traditional centralized search engines. By combining the transparency and security of blockchain with AI-driven information retrieval capabilities, Aiden offers an innovative search experience centered around the user[22].

$ADN, as the core token of Aiden, is primarily used for transaction fees, incentive rewards, and governance participation. Users can earn points while using Aiden’s search services, and these points can be converted into cryptocurrency. Transaction fees include gas fees, network fees, and withdrawal fees, which are used to reward validators for executing smart contracts, processing transactions, and covering costs during the point conversion process.

How to Participate:

1. Visit the official Aiden webpage and connect your wallet.
2. Complete social media tasks to earn points.
3. Use AI to generate images, then mint them as NFTs to earn additional points.

Note:
The airdrop plans and participation methods are subject to change, so users are encouraged to stay updated through Aiden’s official channels. Additionally, users should participate with caution, be aware of risks, and conduct thorough research before joining. Gate.io does not guarantee the distribution of future airdrop rewards.


References:

1. Gate.io,https://www.gate.io/trade/BTC_USDT
2. Gate.io,https://www.gate.io/trade/ETH_USDT
3. SoSoValue,https://sosovalue.xyz/assets/etf/us-btc-spot
4. SoSoValue,https://sosovalue.xyz/assets/etf/us-eth-spot
5. CoinGecko,https://www.coingecko.com/en/categories
6. Investing,https://investing.com/indices/usa-indices
7. Investing,https://investing.com/currencies/xau-usd
8. Gate.io,https://www.gate.io/bigdata/homeindex
9. Gate.io,https://www.gate.io/price
10. X,https://x.com/plumenetwork/status/1881579030341980190
11. X,https://x.com/vechainofficial/status/1879862605478514962
12. X,https://x.com/moba_aof/status/1881651280214622647
13. Defillama,https://defillama.com/dexs/chains/solana
14. X,https://x.com/HyperliquidX/status/1881562851703493002
15. microstrategy,https://www.microstrategy.com/press/microstrategy-acquires-11000-btc-achieves-btc-yield-of-1-ytd-2025-now-holds-461000-btc_01-21-2025
16. X,https://x.com/fgthiel/status/1881860329543716929
17. X,https://x.com/lookonchain/status/1881884424058630635
18. X,https://x.com/eigenlayer/status/1881814947509731659
19. Rootdata,https://www.rootdata.com/Fundraising
20. coindesk,https://www.coindesk.com/business/2025/01/21/aviation-depin-network-wingbits-raises-usd5-6m-for-decentralized-flight-tracking?ref=onepagecrypto.com
21. coinmarketcap,https://coinmarketcap.com/community/articles/678faced54b9f9235cceef48/
22. Aiden Labs,https://www.aidenlabs.ai/

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