TL;DR

• Altcoins saw a broad decline following BTC’s downward movement, though sectors like AI Framework and Modular Blockchain strongly resisted the trend.
• Over the past 7 days, net inflows of ETH increased, with Base network showing strong net inflows.
• The U.S. Senate has established a dedicated subcommittee on cryptocurrency.
• The 148th Ethereum ACDC Meeting: The seventh CL (Consensus Layer) fork or upgrade will be named after the star “Gloas.”
• Russia has begun selling Bitcoin seized in the Infraud case, which may create short-term selling pressure.

Market Analysis

• BTC — BTC has declined 2.65% over the past 24 hours, currently trading at $93,417.9. The 1-hour candlestick chart shows BTC moving within a descending channel, with the price approaching the channel’s upper boundary and encountering significant short-term resistance. A strong support level exists at $91,000—if this breaks, BTC could test the previous low of $90,000. [1]

• ETH — ETH has fallen 3.24% in the past 24 hours, currently trading at $3,247.64. Price action continues within a descending channel with a clear downward trend. The channel’s upper and lower boundaries provide short-term resistance and support. With the price currently at the channel’s midpoint, a breakthrough above the upper boundary accompanied by increased volume could lead ETH to test higher resistance levels. [2]

• Altcoins — Altcoins saw a broad pullback over the past 24 hours following BTC’s decline. However, several sectors demonstrated relative resilience, with AI Framework, Modular Blockchain, and Crypto-backed Stablecoins rising by 0.4%, 0.2%, and 0.1%, respectively. [3]
• Spot Gold — Spot gold is priced at $2,673 per ounce, up 0.12% for the day. [4]
• Fear and Greed Index — The Fear and Greed Index dropped sharply from 69 yesterday to 50, indicating a shift in market sentiment from optimism to neutrality, with investors becoming more cautious and rational. [5]

Top Performers

According to Gate.io market data [6], combined with recent 24-hour trading volume and price performance, the following are top-performing altcoins:

PIPPIN – Daily gains of approximately 160.62%, with a circulating market cap of $209 million.
Pippin is an AI-generated meme token developed by Yohei Nakajima, aimed at creating an open AI agent framework that combines technological innovation with community engagement, symbolizing the fusion of Web3 and AI. Recently, the market’s interest in the project has increased. The developer’s extensive experience in AI agent and decentralized technology and the project’s vision may have driven the surge in interest in PIPPIN, leading to its short-term price spike. [7]

Project89 – Daily gains of approximately 73.88%, with a circulating market cap of $20.87 million.
Project89, led by developer Parzival, seeks to integrate AI and virtual reality technologies. Its core product, Oneirocom, is a simulation company incorporating thousands of autonomous AI agents while resisting corporate monopolization of reality technologies through Project89. The developer has expressed support for the token’s meme nature, and the market’s anticipation of the developer’s background and project vision has attracted significant attention in the short term, leading to high price volatility. [8]

YNE – Daily gains of approximately 63.75%, with a circulating market cap of $71.35 million.
Yesnoerror (YNE) leverages the OpenAI O1 model-driven AI agents to analyze mathematical errors and inconsistencies in scientific papers. A recent partnership with @ResearchHub may have created new growth opportunities for the project, boosting user confidence. As the market demand for AI-driven scientific analysis applications grows, it has indirectly contributed to the price increase of YNE. [9][10]

Data Highlights

ETH and Base Network See Strong Net Inflows Over Past Week
According to Artemis data, ETH saw net inflows of $140 million over the past 7 days, securing the top position. This return of funds to ETH during the market downturn marks a significant shift from its usual net outflow pattern, indicating that investors might view ETH as either a safe haven or an undervalued asset. The Base network has also demonstrated remarkable performance, recording net inflows of $137 million over the past 7 days and ranking second among all blockchain networks. This achievement highlights not only Base network’s powerful short-term capital attraction but also reflects its robust ecosystem growth, drawing significant investment and user engagement. Should the Base network sustain this momentum, it could solidify its position as a key player in the Layer 2 ecosystem. [11]

Berachain Incentivized Pre-deposit Vault TVL Reaches $1.2 Billion, Showing Strong Performance
Berachain’s incentivized pre-deposit vault has reached a Total Value Locked (TVL) of $1.2 billion, covering 11 vaults with 129,000 participating users. These figures reflect its broad market acceptance and capital attractiveness, demonstrating the community’s high trust and support for Berachain. This TVL growth may drive Berachain’s future development. [12][13]

Spotlight Analysis

U.S. Senate Establishes Dedicated Cryptocurrency Subcommittee
The U.S. Senate Banking Committee has announced the formation of a dedicated subcommittee focused on cryptocurrencies, marking the first such effort to regulate and study the crypto market comprehensively. This move is reminiscent of the Financial Committee subcommittee created by Patrick Timothy McHenry in 2023, highlighting the government’s growing emphasis on crypto regulation. The subcommittee is expected to be chaired by Cynthia Lummis, signaling legislators’ intent to promote relevant legislation through clear oversight mechanisms. This development will likely influence the future trajectory of U.S. crypto industry policies and could cause short-term market fluctuations.

This move underscores the U.S. government’s determination to strengthen regulation in the cryptocurrency space, particularly in protecting consumer rights and combating illicit activities. As the subcommittee’s activities unfold, the crypto industry may face increased policy risks, requiring market participants to exercise caution. [14]

Ethereum’s 148th ACDC Meeting: Seventh CL Fork to Be Named After the Star “Gloas”
On January 9, the Ethereum Core Developers Consensus (ACDC) call confirmed that the seventh Consensus Layer fork or upgrade will be named after the star “Gloas”, combining with the Execution Layer upgrade “Amsterdam” into the joint name “Glamsterdam”. EF engineer Parithosh Jayanthi noted that existing open issues in the CL specifications need resolution to facilitate the release of Pectra Devnet 5. Meanwhile, hive testing for EL and CL clients has been updated, with most clients performing well, though the specific launch time for Pectra testing is yet to be coordinated.

The meeting also discussed upgrade plans for the Sepolia and Holesky testnets, with a preference for prioritizing Sepolia. However, a specific timeline has not been set. Successful upgrades could attract more developers and projects to the Ethereum ecosystem, indirectly boosting the market performance of Ethereum tokens. [15]

Russia Begins Selling Bitcoin Seized in the Infraud Case, Creating Potential Short-Term Selling Pressure
The Russian government has started selling Bitcoin seized during the 2023 Infraud hacker group case. The sale, led by the Ministry of Finance, initially aims to sell approximately $10 million worth of BTC. Bitcoin originated from former investigator Marat Tambiev, who was convicted of accepting bribes, with over 1,000 BTC found on his devices. Due to legal and asset division issues, only a portion of Bitcoin can be sold at this time.

This large-scale sell-off could exert pressure on the market by increasing Bitcoin supply, potentially triggering price declines. Russia’s actions may also attract global attention from cryptocurrency investors. As more Bitcoin enters the market, this selling pressure could persist in the future. [16]

Funding News

According to RootData, eight projects announced funding in the past 24 hours, totaling over $60 million. The largest single round reached $30 million. These projects span sectors including AI and Infrastructure. Here are the top three funding rounds by size:[17]

OG – OG has completed a $30 million funding round, with the funds allocated toward deploying nodes for its decentralized AI platform. OG is a modular AI blockchain featuring a scalable and programmable DA layer designed for AI dApps.

Sol Strategies – Sol Strategies Inc. has announced a $20 million funding round, fully invested by ParaFi Capital. The funds will expand SOL reserves, grow its validator business, and support daily operations. Sol Strategies Inc. is a publicly listed company focused on investing in blockchain-related businesses and crypto assets such as BTC and SOL.

Rena Labs – Rena Labs has raised $3 million in a Pre-Seed round led by Paper Ventures with participation from Faction and others. Rena Labs is a TEE abstraction middleware platform, creating on-chain infrastructure for verifiable AI use cases.

Airdrop Opportunities

OpenLedger

OpenLedger is a global data blockchain centered on Artificial Intelligence (AI), designed to build permissionless, data-focused infrastructure to support AI technology development. The project has successfully raised $8 million in funding and officially launched its incentivized testnet, Epoch 1, on January 10, 2025. Users can earn points by completing tasks. [18]

How to Participate:

• Visit the official task website and log in using your Google account by clicking the top-right corner.
• Check in daily to claim 50 points.
• Find and complete social tasks to earn additional points.
• Download and install the browser plugin.
• Once installed, open the plugin and click “Login Node.”
• Log in to the plugin again using your Google account.

Notice:
Airdrop plans and participation methods may be updated at any time, so users are advised to keep an eye on OpenLedger’s official channels for the latest information. Additionally, users should proceed with caution, be aware of risks, and conduct thorough research before participating. Gate.io does not guarantee the distribution of airdrop rewards.

References：

1. Gate.io,https://www.gate.io/trade/BTC_USDT
2. Gate.io,https://www.gate.io/trade/ETH_USDT
3. Coingecko,https://www.coingecko.com/en/categories
4. Investing,https://investing.com/currencies/xau-usd
5. Gate.io,https://www.gate.io/bigdata/homeindex
6. Gate.io,https://www.gate.io/price
7. Gate.io,https://www.gate.io/pilot/solana/pippin-pinpin
8. Gate.io,https://www.gate.io/zh/pilot/solana/project89-project89
9. X,https://x.com/MattPRD/status/1877398919463723416
10. Gate.io,https://www.gate.io/pilot/solana/yesnoerror-yne
11. Artemis,https://app.artemis.xyz/flows?tab=flow&sourceChains=%2Csolana
12. Berachain,https://x.com/berachain/status/1877367405833498765
13. Boyco,https://boyco.berachain.com/external-vaults
14. X,https://x.com/EleanorTerrett/status/1877468252034543914
15. galaxy,https://www.galaxy.com/insights/research/ethereum-all-core-developers-consensus-call-148/
16. cryptonews,https://cryptonews.com/news/moscow-bitcoin-selloff-russia-begins-to-sell-coins-seized-in-btc-1032-infraud-haul/
17. Rootdata,https://www.rootdata.com/Fundraising
18. X,https://x.com/OpenledgerHQ/status/1877241141759766811

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Disclaimer
Investing in the cryptocurrency market involves high risk, and it is recommended that users conduct independent research and fully understand the nature of the assets and products they are purchasing before making any investment decisions. Gate.io is not responsible for any losses or damages caused by such investment decisions.