TL;DR

• BTC fell by 4.07% and ETH by 8.56% this week, with both moving averages showing bearish trends.
• An Oklahoma lawmaker proposed the “Bitcoin Freedom Act,” aiming to allow wages to be paid in BTC.
• Vitalik outlined Ethereum’s core development priorities: improving Layer 2 throughput and advancing PeerDAS.
• Raredex.io launched live trading for tokenized rare earth metals on Arbitrum.
• The total value of on-chain RWAs (Real World Assets) surpassed $15 billion, with over 80,000 asset holders.
• Sonic Chain’s TVL surged 188% in 7 days, reaching $58.71 million.
• Aptos (APT) will unlock tokens worth approximately $102 million on January 11, accounting for 2.02% of its total supply.

Market Analysis

Review and Insights

• BTC Market – Last week, Bitcoin’s price briefly surged to around $103,000 before quickly retreating and finding support at $92,500. The price then rebounded to approximately $95,000, but moving averages remain in a bearish momentum, indicating short-term market weakness. Market sentiment is cautious, with further attention needed on the $92,500 support level and the $100,000 resistance level. If Bitcoin can successfully break through the resistance, it may reverse the bearish trend and initiate a rebound rally. [1]

• ETH Market – Ethereum briefly surpassed the $3,700 level last week but quickly retreated to test support around $3,300. After failing to hold this level, the price dropped further to $3,200, where it found temporary support before rebounding to around $3,300. Continuous observation is needed to see if Ethereum can sustain above $3,300, as successfully holding this level could establish it as a new support. [2]

• Altcoins – Over the past seven days, altcoins experienced relatively larger declines, especially around January 7, with the market showing overall weakness. Strong-performing altcoins recorded gains lower than the previous week. Notable sectors such as Pump.fun Ecosystem, AI Agent Launchpad, and Blockchain Capital Portfolio led the market, with several tokens in these sectors showing significant gains, including some doubling in value. [3]
• Option Market — In the options market, major expirations had no notable impact, and spot prices remained range-bound. Current options open interest stands at $36.69 billion, reflecting an increase of approximately 129.96%. Notably, the nominal value of options expiring on January 31 rose to $5.875 billion. [4]
• Macro Data — On the evening of January 6, the U.S. released the final December S&P Global Services PMI, which came in below expectations. The data suggests a less optimistic economic outlook. Recent economic indicators have contributed to the stabilization of gold prices. [5]
• Stablecoins — The total market capitalization of stablecoins rose by 1.31% over the past seven days, reaching $206.015 billion. This short-term increase was mainly driven by the overall market uptrend. [6]
• Gas Fee —— Over the last seven days, Ethereum’s average Gas fee rose significantly to 10.2 Gwei, reflecting a sharp increase compared to the previous week and indicating heightened network activities. [7]

Trending Concepts

This week, Bitcoin’s price fluctuated within the range of $91,500 to $108,800, while altcoin performance varied across different sectors. According to CoinGecko, the top three performing sectors were Pump.fun Ecosystem, AI Agent Launchpad, and Blcokchain Capital Portfolio, which rose by approximately 13.0%, 12.6%, and 11.3%, respectively, over the past seven days. [8]

Pump.fun Ecosystem – Pump.fun is an innovative platform that streamlines Memecoin creation and trading. Creators can launch tokens by simply paying 0.02 SOL, entering a name, and uploading an image. Traders can then buy and sell these tokens along a pricing curve, ensuring a fair market launch. Once a token reaches a $69K market cap, the platform automatically adds liquidity to Raydium and burns it for security. This sector saw strong growth over the past seven days, rising by over 13.0% as of January 9, 00:00 (UTC+0).

In this sector, two tokens showed remarkable performance: MAX increased by 966.6% and GPU AI Rich gained 787.4% over the past seven days. [9]

AI Agent Launchpad – AI Agent is a system powered by large language models that functions like a digital brain. It can understand, perceive, plan, remember, and use tools autonomously. Unlike traditional AI systems, AI Agents can think independently and methodically use tools to complete complex tasks step-by-step.

In this sector, three tokens showed notable performance: SuiAI surged by 872.8%, AI9000 gained 120.9%, and SEN increased by 75.3% over the past seven days. [10]

Blockchain Capital Portfolio – This sector comprises ecosystems and tokens invested in by Blockchain Capital.

In this sector, notable performers included FILP with a 24.5% gain, EWT rising 12.8%, and SUSHI climbing 7.1% over the past seven days. [11]

Top Performers

According to CoinGecko data, the top-performing tokens over the past 7 days are as follows: [12]

XDC (XDC Network) – 7-day increase of approximately 15.6%, with a circulating market cap of $1.413 billion.
XDC Network is a hybrid blockchain technology company optimized for international trade and finance. The XDC Chain (also known as XinFin Digital Contracts) uses XinFin Delegated Proof of Stake (XDPoS) to create a highly scalable, secure, permissioned, and enterprise-grade blockchain network.

Today, XDC partnered with Pivot to launch the “Let’s Pivot-to-XDC” program. The initiative helps developers, founders, and blockchain advocates on the XDC blockchain understand RWA sector applications and developments. XDC also introduced new AI-powered features that provide personalized user experiences, contributing to the price increase. [13]

SUI (SUI) – 7-day increase of approximately 13.8%, with a circulating market cap of $1.468 billion.
Sui is a Layer 1 blockchain platform built to serve global applications through its secure, robust, and scalable development environment. It features a unique object-centric data model and leverages the trusted Move programming language to solve common blockchain inefficiencies.

Two key factors drove SUI’s recent price increase. First, its Total Value Locked (TVL) reached an all-time high of $2 billion. Second, the platform’s ecosystem showed steady growth, attracting investors as 12 new projects joined the SUI incubator program. [14]

GT (Gate) – 7-day increase of approximately 7.6%, with a circulating market cap of $2.281 billion.
GateChain, launched by Gate, is a public blockchain that enables secure digital asset transfers and protects asset security. Its native token GateToken (GT) serves as the network’s currency for transaction fees, validation, and maintaining security in return for rewards.

Gate has recently launched several high-APY liquidity pools, drawing strong user participation. The platform’s expansion through new token listings has also attracted more investors, helping drive the token’s upward price momentum. [15]

Weekly Spotlights

Hot Topic Review

Oklahoma Lawmaker Proposes “Bitcoin Freedom Act” to Allow BTC for Wages
Oklahoma State Senator Dusty Deevers has introduced the “Bitcoin Freedom Act,” designated as SB325. The bill allows Oklahoma employees, businesses, and individuals to choose Bitcoin freely for payments, including wages, salaries, and other fees. Additionally, it exempts digital asset companies from acquiring money transmitter licenses for transactions not involving U.S. dollars. The bill requires the state treasurer to contract with a Bitcoin payment service provider by January 1, 2026, and mandates the tax commission to release related tax guidelines by the same date. SB325 is set to be reviewed during the 60th legislative session starting February 3.

The passage of the “Bitcoin Freedom Act” in Oklahoma would not only provide a robust legal framework for Bitcoin use within the state but also send a positive message nationwide and globally: local governments are increasingly recognizing and supporting cryptocurrencies. A crypto-friendly regulatory environment could attract more blockchain businesses to Oklahoma, boosting the local digital economy. However, the bill’s specific implementation details still need clarification, and the actual rollout will take time. Additionally, Bitcoin’s high price volatility might temporarily affect the bill’s practical impact. [16]

Vitalik Outlines Core Ethereum Development Priorities: Enhancing L2 Throughput and Advancing PeerDAS
Vitalik Buterin shared on X (formerly Twitter) that Ethereum’s core development requires a clearer prioritization. For instance, between “increasing the target number of blobs from 3 to 6” and “other improvements in Pectra,” he prioritizes the former (EIP-7691). This proposal aims to increase blob throughput, thereby reducing Layer 2 transaction costs. Vitalik also emphasized the importance of Layer 1 EVM improvements and provided a priority list: EOF, full account abstraction via EIP-7701, and performance enhancements through SIMD and EVMMAX. Additionally, he mentioned ongoing progress on the PeerDAS project and the potential exploration of more ambitious versions.

Vitalik Buterin’s insights offer the developer community a clear technical roadmap, guiding them to focus on critical issues and drive continuous innovation in Ethereum’s technology. His emphasis on increasing blob targets as a top priority will enhance Ethereum’s network performance and scalability, meeting the growing demands of decentralized applications. Moreover, the planned L1 EVM improvements will significantly boost smart contract execution efficiency, providing more robust functionality for DeFi, NFTs, and other applications, further solidifying Ethereum’s leadership in blockchain technology. [17]

Raredex.io Launches Tokenized Rare Earth Metals Live Trading on Arbitrum
Raredex.io has launched a live trading platform on Arbitrum blockchain for tokenized rare earth and tech metals. The platform tokenizes rare earth metals through blockchain technology, allowing investors to purchase fractional ownership with minimal capital. Each token represents one kilogram of physical metal stored in secure, bank-grade vaults to guarantee asset authenticity. The platform also provides detailed provenance data for each token, giving investors verifiable ownership proof.

Historically, rare earth metals trading has been limited to institutions and high-net-worth individuals. Raredex’s tokenization approach breaks down this barrier, making these investments accessible to retail investors. With rare earth metals subject to significant price swings due to geopolitical tensions and supply chain disruptions, Raredex offers a potential tool for portfolio diversification and inflation protection. [18]

Security Incident

Orange Finance on Arbitrum Hacked for $787K, Users Urged to Revoke Contract Approvals
On January 8, the liquidity management protocol Orange Finance on Arbitrum suffered a hack, resulting in approximately $787,000 worth of crypto assets being drained from its contract. Officials confirmed that the attacker gained control of the administrator address, upgraded the contract, and transferred the funds to their wallet.

Users are strongly advised to immediately revoke all contract approvals related to Orange Finance to avoid further losses and cease any interactions with the compromised protocol. Orange Finance has attempted to reach out to the attacker via Arbiscan to negotiate the return of the stolen funds. [19][20]

Project Highlights

DuckChain Officially Launches Governance Token $DUCK
DuckChain has officially announced via X(formerly Twitter) the launch of its governance token, $DUCK, with a 10 billion total supply. The token distribution allocates 77% to community and ecosystem development—50% for airdrops, 4% for liquidity, 3% for marketing, and 20% for ecosystem support. The remaining tokens are split between investors (10%), team members (10%), and advisors (3%). The $DUCK Token Generation Event (TGE) will first launch on TON, then expand to DuckChain after its public mainnet launch, followed by Arbitrum, Base, and additional platforms.

As the core token of DuckChain, $DUCK supports governance, staking, gas fee payments, and other functions. DuckChain aims to drive large-scale blockchain adoption by leveraging AI tools, EVM compatibility, and other technologies to provide on-chain support for Telegram’s over 1 billion users and dApp developers. The $DUCK token will be listed on multiple centralized and decentralized exchanges starting January 16, 2025, with specific platforms to be announced. [21][22]

Data Highlights

Global On-Chain RWA Assets Surpass $15B, Holders Exceed 80K
As of January 9, 2025, the global on-chain Real-World Assets (RWA) market has surpassed $15 billion, reaching $15.3 billion, with a 30-day growth of 10.91%. The number of asset holders has exceeded 80,000, reaching 81,721, a 30-day increase of 2.66%. The total number of asset issuers has grown to 120. Meanwhile, stablecoin assets are valued at $204.3 billion, up 3.19% over 30 days, with 141 million holders.

The rapid growth of the global on-chain RWA and stablecoin markets highlights increasing interest in tokenizing traditional assets and leveraging blockchain technology. The significant rise in RWA asset value and holder numbers reflects this trend. Simultaneously, the expansion of the stablecoin market underscores its growing importance as a store of stable value and a medium of exchange within the cryptocurrency ecosystem. [23]

Sonic Chain TVL Rises 188% in 7 Days to $58.71 Million
According to DefiLlama data, Sonic Chain’s TVL increased by 188% over the past 7 days, reaching $58.71 million. Among its top contributors, WAGMI currently holds $12.19 million in TVL, up 325% in 7 days, while Avalon Labs has $9.42 million, rising 492% during the same period.

This data reflects Sonic Chain’s recent robust growth and strong market recognition. By leveraging its unique technical advantages and ecosystem development, Sonic Chain has attracted significant funds and user attention, driving the rapid growth of on-chain projects. The standout performances of projects like WAGMI and Avalon Labs have not only elevated Sonic Chain’s overall value and influence but also bolstered market confidence in its future, demonstrating its competitiveness and appeal in the highly competitive blockchain space. [24]

U.S. Government Approved to Sell 69,370 Bitcoins Seized in Silk Road Case, Valued at $6.5 Billion
According to Spot On Chain, the U.S. government has been approved to sell 69,370 Bitcoins seized in the Silk Road case, valued at approximately $6.5 billion. While similar past sales were mostly conducted via OTC (over-the-counter) methods with minimal direct impact on market prices, the news has sparked market panic, often leading to short-term volatility. Currently, the U.S. government holds about 197,000 BTC, valued at $18.6 billion.

On-chain data analyst Trader T posted on X that it could take several months to move from “approved for sale” to the actual liquidation of these Bitcoins. Therefore, it is unlikely to have an immediate direct impact on the market in the short term. [25]

Market Opportunities

Project Airdrop

Airdrop Project to Watch This Week: Assisterr AI

Assisterr AI is a decentralized platform designed to simplify the creation, maintenance, and support of community-owned Small Language Models (SLMs). The platform offers no-code tools and infrastructure, enabling individuals and organizations to easily build, monetize, and tokenize AI agents powered by SLMs. Assisterr’s incentive-driven data reasoning framework allows everyone to contribute knowledge and expertise to train these AI models, ensuring permissionless access, high data quality, and fair rewards. [26][27]

How to Participate:

1. Visit the testnet at build.assisterr.ai.
2. Connect your Solana wallet (e.g., Phantom).
3. Complete tasks to earn rewards: Perform specific tasks on the testnet, such as linking your X (formerly Twitter) and Discord accounts.

Note:
The airdrop program and participation methods are subject to change. Users are advised to follow Assisterr AI’s official channels for the latest updates. Additionally, users should exercise caution, be aware of potential risks, and conduct thorough research before participating. Gate.io does not guarantee the distribution of future airdrop rewards.

Weekly Fundraising Report

Several projects successfully secured funding this week, spanning applications in payments, DeFi, gaming, and more. According to RootData, 8 projects announced funding rounds between January 3 and January 10, with a total amount exceeding $30 million. [28]

Here are the top three funding rounds by scale:

SoSoValue completed a $15 million funding round on January 7, led by Sequoia China and Mirana Ventures. The company plans to use the new funds to launch additional investment products as part of its SoSoValue Index Protocol. This protocol uses smart contracts to automatically purchase digital assets and package them into wrapped tokens. SoSoValue is a one-stop financial research platform tailored for cryptocurrency investors, providing real, high-quality macroeconomic market insights to help investors conduct more effective investment research. It also features AI-based categorized news and research tools that connect macroeconomic data with the cryptocurrency market. [29]

Nakamoto Games completed a $10 million funding round on January 3, led by Make It. Nakamoto Games is a Play-to-Earn (P2E) gaming platform aiming to create a comprehensive ecosystem that links multiple games through its native token to offer an enhanced gaming experience. Recently, Nakamoto Games announced plans to launch its first customizable AI agent, a private agent for users to train themselves. The new funds will be used to strengthen Nakamoto Games’ position as the leading P2E ecosystem by expanding operations through expertise in smart contract development and AAA game design, with a focus on attracting top-tier talent to ensure the development of additional AAA games. [30]

JAN3 raised $10 million on January 3 in a funding round led by Fulgur Ventures. The new funds will be allocated to addressing Bitcoin scalability issues, particularly in regions with limited access to financial services, to help expand Bitcoin adoption. JAN3’s mission is to accelerate the global transition to a Bitcoin standard by building Bitcoin infrastructure and improving accessibility to second-layer technologies. [31]

What to Watch Next Week

Token Unlock

According to Token Unlocks, several significant token unlock events are scheduled for next week (2025.01.11-2025.01.17), with a total unlocked value exceeding $164 million.

Here are the top 3 token unlock events:

APT – Approximately 11.31 million APT tokens are set to be unlocked on January 11, 2025, at 1:59 AM (UTC+0), accounting for 2.02% of its circulating supply and valued at approximately $102 million. Recently, APT has recorded an average daily trading volume of around $483 million, so this unlock could have a noticeable impact on APT’s market price.

STRK – Around 64 million STRK tokens will be unlocked on January 15, 2025, at 12:00 AM (UTC+0), representing 2.65% of its circulating supply and valued at approximately $28.35 million. With STRK’s recent average daily trading volume at about $113 million, this unlock is expected to have minimal impact on the token’s price.

ENA – About 12.86 million ENA tokens are scheduled to be unlocked on January 15, 2025, at 7:00 AM (UTC+0), comprising 0.42% of its circulating supply and valued at approximately $12.26 million. ENA’s recent average daily trading volume of $636 million suggests that this unlock will have little effect on the token’s price.[32]

Crypto Calendar

Several key events next week (2025.01.11 -2025.01.17) will impact the cryptocurrency market, global economy, and energy sector. [33] Nosana will launch its mainnet on January 14, 2025. [34] On January 11, 2025, the U.S. will release its Oil Rig Count for the week ending January 10. [35] Additionally, on January 14, 2025, the U.S. will release December’s Producer Price Index (PPI) Yearly Rate. [36] The PPI tracks price changes for goods at the factory, farm, and processing levels. Since food and energy prices often show seasonal volatility, the report includes a Core PPI that excludes these components to better reflect underlying producer price trends. [37]

References:

1. Gate.io,https://www.gate.io/trade/BTC_USDT
2. Gate.io,https://www.gate.io/trade/ETH_USDT
3. Gate.io,https://www.gate.io/bigdata/estimate
4. Coinglass,https://www.coinglass.com/zh/pro/options/OIExpiry
5. CryptoCraft,https://www.cryptocraft.com/#detail=136202
6. Defillama,https://defillama.com/stablecoins
7. Etherscan,https://etherscan.io/gastracker
8. Coingecko,https://www.coingecko.com/en/categories
9. Coingecko,https://www.coingecko.com/en/categories/pump-fun
10. Coingecko,https://www.coingecko.com/en/categories/ai-agent-launchpad
11. Coingecko,https://www.coingecko.com/en/categories/blockchain-capital-portfolio
12. Coingecdko,https://www.coingecko.com
13. Gate.io,https://www.gate.tv/zh-tw/trade/XDC_USDT
14. Gate.io,https://www.gate.tv/zh-tw/trade/SUI_USDT
15. Gate.io,https://www.gate.tv/zh-tw/trade/GT_USDT
16. Bitcoin Magazine,https://x.com/BitcoinMagazine/status/1877109978474950677
17. X,https://x.com/VitalikButerin/status/1877007940760076511
18. Cryptonews,https://cryptonews.com/news/raredex-io-launches-live-exchange-for-tokenized-rare-earth-metals-on-arbitrum/?ref=onepagecrypto.com
19. X,https://x.com/0xOrangeFinance/status/1876863611458801890
20. X,https://x.com/0xOrangeFinance/status/1876975123359572440
21. X,https://x.com/Duck_Chain/status/1876920735672770848
22. Medium,https://duckchain.medium.com/duck-unveiled-powering-duckchain-governance-cf9e4181d73b
23. RWA,https://app.rwa.xyz/
24. Defillama,https://defillama.com/chain/Sonic
25. X,https://x.com/spotonchain/status/1877182579906068970
26. X,https://x.com/assisterr
27. AssisterrAI,https://assisterr.gitbook.io/assisterr?utm_source=chatgpt.com
28. RootData,https://www.rootdata.com/Fundraising
29. ChainCatcher,https://www.chaincatcher.com/article/2161398
30. Nakamoto Games,https://x.com/NakamotoGames/status/1875448865287213059
31. JAN3,https://jan3.com/blog/jan3-raises-5-million-seed-round/?lang=zh-Hans
32. tokenomist,https://tokenomist.ai/unlocks
33. Gate.io,https://www.gate.io/calendar
34. X,https://x.com/nosana_ai
35. Jin10,https://rili.jin10.com/
36. Jin10,https://rili.jin10.com/
37. Foresight News,https://foresightnews.pro/news/detail/57102

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