Summary of the last 24 hours of social chatter.

Crypto Market Report: January 8-9, 2025

Summary

The cryptocurrency market experienced a period of volatility during the reported period, with a notable dip on January 9th. Several factors contributed to this downturn, including the announcement of the US Department of Justice's (DOJ) clearance to sell $6.5 billion worth of Bitcoin seized from Silk Road. This news sparked concerns about potential selling pressure and triggered a sell-off across the market.

Despite the dip, there were positive developments, including institutional activity, new token launches, and project updates. Fidelity deposited a significant amount of ETH into Coinbase, indicating continued institutional interest in the crypto space. Several new tokens, including $VERTAI, $FAI, and $LAVA, were listed on major exchanges, attracting attention from traders. Projects like Cipher Protocol launched new features, such as Cipher Swap, a private and secure decentralized exchange.

The market sentiment remained neutral, with the Fear & Greed Index hovering around 49. While the market experienced a pullback, the overall trend remains bullish, with many analysts expecting a rebound in the near future.

News and Developments

Regulatory News

• DOJ Cleared to Sell $6.5B in Seized Silk Road Bitcoin: The DOJ received clearance to sell 69,370 BTC ($6.58B) confiscated from Silk Road. This news sparked concerns about potential selling pressure and triggered a sell-off across the market. https://x.com/lookonchain/status/1843692654653256195
• CFTC Subpoenaed Coinbase: The US Commodity Futures Trading Commission (CFTC) reportedly issued a subpoena to Coinbase, demanding information on some customers related to the Polymarket case. https://x.com/News_Crypto

Institutional Activities

• Fidelity Deposited ETH into Coinbase: Fidelity deposited 31,249 ETH ($103.55M) into Coinbase in the past 24 hours. This indicates continued institutional interest in the crypto space. https://intel.arkm.com/explorer/address/0x8BB85cA68167A34b54eE89733DDbe724EAB532C5
• Grayscale Rebalanced Multi-Asset Funds: Grayscale announced the rebalancing of its multi-asset funds for the fourth quarter of 2024, adding LPT, CRV, ADA, and SUI while removing SNX and AVAX. https://www.globenewswire.com/news-release/2025/01/08/3006697/0/en/Grayscale-Investments-Announces-Rebalancing-of-Multi-Asset-Funds-for-Fourth-Quarter-2024.html
• Mark Cuban Prefers Bitcoin to Gold: Billionaire Mark Cuban stated that he would rather own Bitcoin than gold if something bad happens to the economy. https://x.com/WatcherGuru/status/1877110720455696802
• Movement Labs Raises $100M: Movement Labs, a blockchain developer, is close to raising $100 million in a Series B funding round, valuing the company at approximately $3 billion. https://fortune.com/crypto/2025/01/08/movement-labs-series-b-100-million-coinfund-brevan-howard/
• Binance's 2024 End-of-Year Report: Binance published its annual end-of-year report, highlighting its key areas of progress and quantitative indicators of growth. The report revealed that Binance crossed the mark of 250 million registered users in 2024. https://www.binance.com/en/blog/ecosystem/binances-2024-endofyear-report-wrapping-a-transformative-year-quarter-of-a-billion-users-strong-7581605994538648935

Project Updates and Partnerships

• Cipher Protocol Launches Cipher Swap: Cipher Protocol launched Cipher Swap, a private and secure decentralized exchange. Key features include private transactions, cross-chain compatibility, no wallet connect requirement, and fair fees. https://swap.cipherprotocol.io/
• Phala Network Launches Ethereum Layer 2 Rollup: Phala Network, a Polkadot-based parachain and computation platform, launched a new Layer 2 network on Ethereum in collaboration with Succinct Labs and Conduit. https://www.theblock.co/post/333755/polkadot-based-phala-network-launches-ethereum-layer-2-rollup
• Sonic Launches G.A.M.E. Fund: Sonic, a gaming-focused Solana Layer 2 network, announced the launch of the G.A.M.E. (Game, AI, Meme, Ecosystem) Fund 1 in collaboration with Galaxy Interactive. The fund will accelerate the development of Web3 games, AI agents, and social media content creation tools on HyperGrid. https://cointelegraph.com/news/sonic-svm-launches-million-dollar-fund-for-web3-gaming-amid-ai-agent-hype
• Aethir Unveils Fourth Batch of AI Projects: Aethir, a decentralized GPU cloud infrastructure, unveiled the fourth batch of AI projects supported by its $100M ecosystem fund. https://x.com/AethirCloud/status/1877015072276435357
• Plume Network Partners with Royco Protocol: Plume Network, a chain focused on RWAfi, partnered with Royco Protocol, a platform to optimize incentive spend. https://plumenetwork.xyz/blog/royco
• Eliza Labs and IoTeX Partner: Eliza Labs and IoTeX announced a strategic partnership to unlock sentient AI capabilities with DePIN integration. https://iotex.io/blog/eliza-labs-and-iotex-announce-strategic-partnership-to-unlock-sentient-ai-capabilities-with-depin-integration/
• Clearpool's Ozean Integrates with Lido: Ozean, the blockchain for RWA yield launched by Clearpool, announced the integration of Lido's wstETH onto Oxygen, the RWA liquidity layer on Ozean. https://clearpool.medium.com/ozean-integrates-lidos-wsteth-to-oxygen-908f01475ba6
• Push Protocol Partners with Aptos: Push Protocol partnered with Aptos, a Layer 1 non-EVM blockchain, to empower Aptos users to seamlessly interact with DApps, services, and protocols across any chain. https://push.org/blog/push-chain-joins-forces-with-aptos
• MANTRA to Tokenize DAMAC Group Assets: MANTRA entered an agreement with DAMAC Group, a United Arab Emirates-based property conglomerate, to bring at least $1 billion of the firm's assets to blockchain rails. https://www.coindesk.com/business/2025/01/09/mantra-blockchain-to-tokenize-1-b-of-real-world-assets-for-uae-based-property-firm-damac
• Rena Labs Raises $3.3M: Rena Labs, a verifiable artificial intelligence firm, raised $3.3M in pre-seed funding. https://theblock.co/post/333676/web3-ai-firm-rena-labs-raises-3-3-million-in-pre-seed-funding

Market Trends and Price Movements

• Market Dip: The cryptocurrency market experienced a notable dip on January 9th, with BTC dropping to ~$93K and ETH to ~$3.3K. https://dropstab.com
• BTC Dominance: Bitcoin dominance increased to 56.7% on January 9th. https://dropstab.com
• ETF Flows: Bitcoin ETFs experienced net outflows of -$568.8M on January 8th, while Ethereum ETFs saw net outflows of -$159.4M. https://sosovalue.com/assets/etf/us-btc-spot
• Whale Activity: A whale sold 85B $PEPE for 1.51M $USDC at a loss on January 9th. https://debank.com/profile/0xb1a21d063266a5adc91ae72f9c9fbe8e83b16731/history?token=0x6982508145454ce325ddbe47a25d4ec3d2311933_PEPE_eth
• Liquidations: Significant liquidations occurred on Binance and Okx, with ETHUSDT and BTCUSDT experiencing the largest losses. https://intel.arkm.com/explorer/address/0x9Eb52c2E825e550313366D0ddd63391872EAB482

Degen Alpha

• $ZKEX: The launch of $ZKEX was postponed due to extreme market volatility. https://x.com/zkExchangeApp
• $LLM: LLM (Large Language Model) was launched and associated with a KOL. An account related to the KOL bought $63K of LLM within 3 hours of its launch and has been up $1M+. https://solscan.io/account/2xWsixbXgxKWhU2XhDWSKZ5SckEGqBumzjc1QwHPaFvS#transfers
• $CLX: $CLX had a good launch. https://www.dextools.io/app/en/ether/pair-explorer/0xe10a967f0fcc8c58602d7aecf6026c9a29cbb3bc
• $BEATAI: $BEATAI experienced a 40x return. https://trade.padre.gg/trade/eth/0x3b8f9be1c9d951e2caf224e8a698b61b64db0796?rk=noble
• $CIPHER: $CIPHER faced coordinated fud, but the team addressed the concerns. https://x.com/ManilaMax1/status/1877069763660361861
• $ZKCrypt AI: $ZKCrypt AI experienced a 43% position increase. https://dexscreener.com/ethereum/0xd4ac29407527ef60d0ab28f09b249bfb286531d7
• $CORN: Corn Network ($CORN) token sale is live on Legion. https://legion.cc/app/invest
• $BAD: BAD Coin ($BAD) sale started on TokenFi Launchpad. https://lp.tokenfi.com/en-US/bsc/0xB6da08d2a57F7BEcA88cb1C8987E93fAD01A07cf
• $AVENT: Aventa released its 10th utility, a Freemium tool designed to unlock research and discovery capabilities on Telegram. https://trade.padre.gg/trade/eth/0xb664b3d6963b8b59e180c649260e91c9027f42ac?rk=noble
• $pippin: $pippin experienced a pump. https://solscan.io/account/5wTLevkkUWzKgRTWKcSjrgdoP8TnrEnXYGaAxFKibsS5#portfolio
• $babyshark: $babyshark listed on KuCoin. https://x.com/sol_babyshark/status/1877231755695956454
• $MOG: The $MOG / $POPCAT pair is up +200% in two months. https://www.binance.com/en/how-to-buy/vertical-ai
• $ARAI: $ARAI is sitting around 4x ATH. https://trade.padre.gg/trade/eth/0x3b8f9be1c9d951e2caf224e8a698b61b64db0796?rk=noble
• $PNUT: $PNUT is near a flat resistance. https://trade.padre.gg/trade/eth/0x3b8f9be1c9d951e2caf224e8a698b61b64db0796?rk=noble
• $SENSUS: $SENSUS is a project to watch. https://trade.padre.gg/trade/eth/0x3b8f9be1c9d951e2caf224e8a698b61b64db0796?rk=noble
• $AUTOS: $AUTOS is experiencing dips. https://trade.padre.gg/trade/eth/0x3b8f9be1c9d951e2caf224e8a698b61b64db0796?rk=noble
• $WIF: $WIF is experiencing a pullback. https://trade.padre.gg/trade/eth/0x3b8f9be1c9d951e2caf224e8a698b61b64db0796?rk=noble

Patterns and Insights

• CEX Perp Listings and Market Tops: Perp listings on Binance often mark local tops for coins, as CEXs can short and dump onchain without needing to market buy the asset. https://x.com/NobleIrons7de/status/1877278424575701088?t=GOHW7MKCuf4r9lwiN5WuaQ&s=19
• AI Agent Hype: The AI agent narrative continues to gain traction, with projects like Kaito and Chilli Ai attracting attention. https://x.com/sandraaleow/status/1877005159173382521
• DeFAI Growth: The DeFAI sector is experiencing growth, with projects like Griffain and Hey Anon gaining traction. https://x.com/tkvresearch/status/1877297376655978692?s=46&t=ywALktyM5ZCyt-
• Cross-Chain Interoperability Challenges: The user experience of cross-chain transactions remains complex, with users facing challenges in bridging and swapping assets. https://x.com/CumberlandLabs/status/1876736138506822113
• Web3 Gaming Momentum: The Web3 gaming sector has lost momentum, with many gaming companies struggling to overcome market growth limitations. https://reports.tiger-research.com/p/web3-gaming-its-not-over-eng
• RWA Tokenization: The tokenization of real-world assets (RWAs) is gaining momentum, with projects like MANTRA and Clearpool's Ozean making significant strides. https://mantrachain.io/resources/announcements/mantra-and-damac-group-revolutionize-tokenized-real-world-assets-with-us-1-billion-deal
• Crypto Wallet Revenue: Crypto wallet apps are generating significant revenue from affiliate swap fees. https://d1io3yog0oux5.cloudfront.net/_3dcfe53b25898f245fae12deebdfbbc6/exodus/db/946/9187/presentation/EXOD+Earnings+Presentation+Q3+2024.pdf

Disclaimer

This report is for informational purposes only and should not be considered investment advice. Always conduct your own research (DYOR) before making any investment decisions.