TL;DR

• BTC’s key support level this week was around $92,500, with the market in a period of observation and strategic positioning.
• ETH traded within a narrow range of $3,300 to $3,400, with overall trading volume declining.
• The AI Agent sector showed strong performance leading into the new year, with AI16Z gaining approximately 136.5% over the past 7 days.
• Elon Musk briefly changed his X username to “Kekius Maximus”, but reverted it to the original name within 48 hours.
• Shiba Inu is set to launch the TREAT token in early 2025.
• Base chain recorded an all-time high for single-day transactions, surpassing 13.3 million on January 1.

Market Analysis

Review and Insights

• BTC Market — Last week, Bitcoin entered a consolidation phase after testing the $91,500 support level for the third time. This week, BTC has displayed a narrowing range of consolidation, with major resistance near $99,000 and support at $92,500. In the short term, the $92,500 support has shown resilience. However, if this level fails to hold, the market may test lower price ranges. Conversely, a successful breakout above $99,000 could boost market confidence and open further upward potential. The market remains in a wait-and-see and game theory phase. Investors are advised to closely monitor price movements between the resistance and support levels and wait for clear breakout signals. [1]

• ETH Market — ETH experienced relatively minor price fluctuations this week, with a noticeable decline in overall trading volume. The short-term resistance is concentrated at $3,430, a key threshold for bulls to overcome. The market is currently in a consolidation phase, with upward momentum facing resistance. A successful breakout above $3,430 could restore market confidence and drive prices higher. However, if prices decline, the strength of support near $3,300 will be crucial. The market is likely to continue its tug-of-war between bulls and bears within this range. Investors should closely track trading volume changes and market trends. [2]

• Altcoins — Over the past seven days, altcoins experienced significant declines around December 26, though performance was mixed. Some strong-performing altcoins saw normal corrections followed by substantial rebounds. Sectors such as Virtuals Protocol, AI Agent Launchpad, and AI Meme led the gains, with several related tokens achieving notable increases, including some doubling in value. [3]
• Option Market — Large-scale option expirations had no significant impact, with spot prices maintaining sideways movements. Current options open interest stands at $32.55 billion, up 144.36%. Notably, options expiring on January 31 have a notional value of $5.605 billion. If BTC surpasses $100,000 and volatility remains stable, altcoins could see opportunities for catch-up gains. [4] \
• Macro Data — On the evening of December 30, the U.S. released December’s Chicago PMI data, which came in below expectations, indicating a less optimistic economic outlook. Recent data has contributed to stabilizing gold prices. [5]
• Stablecoins — Over the past seven days, the total market capitalization of stablecoins declined by 0.39%, falling to $203.993 billion. This short-term decrease is primarily attributed to reduced market demand during the holiday period. [6]
• Gas Fees — Ethereum’s average gas fee over the past seven days rose to 8.5 Gwei, a significant increase from the previous week. Network activity has intensified, partially driven by the Bitmappunks project minting, which previously pushed Ethereum’s average gas fee to as high as 26.3 Gwei. [7]

Trending Concepts

Bitcoin prices fluctuated between $91,500 and $99,960, with varying performances across altcoin sectors. According to CoinGecko, the Perpetuals, Virtuals Protocol Ecosystem, AI Agent Launchpad, and AI Meme sectors led the gains this week, with 7-day increases of approximately 56.4%, 44.4%, and 48.5%, respectively. [8]

Virtuals Protocol Ecosystem - Virtuals Protocol is an innovative decentralized platform that leverages blockchain technology and tokenization to provide a new economic model for creators and users in virtual worlds. It transforms virtual assets into investable, tradable digital products with long-term value. Influenced by overall market activity and its unique trading advantages, this sector saw significant growth over the past seven days, with a 31.8% increase as of December 26, 00:00 (UTC+0).

Among the tokens in this sector: FREYA has risen by 2,053.7% over the past 7 days, while WAI has increased by 1,873.8% over the past 7 days. [9]

AI Agent Launchpad - AI Agent is a brain-driven system centered on large language models, capable of autonomous understanding, perception, planning, memory, and tool usage. It automates the execution of complex tasks and stands apart from traditional AI by its ability to think independently and utilize tools to achieve specific goals incrementally.

Among tokens in this sector: SNAI, VVAIFU, and VIRTUAL have risen by 826.0%, 116.2%, and 40.9%, respectively, over the past 7 days. [10]

AI Meme - AI Meme refers to meme tokens related to AI, such as GOAT, Fartcoin, CHAOS, and ANON.

Among tokens in this sector: KEKIUS has risen by 5,566.1% over the past 7 days, MOSS has risen by 1,765.4%, and AVA1 has risen by 300.7% over the past 7 days. [11]

Top Performers

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

AI16Z (Adventure Gold) — Weekly increase of approximately 136.5%, with a circulating market cap of $2.287 billion
AI16Z simulates the venture capital persona of Marc Andreessen, making investment decisions through AI and community interaction. It operates an autonomous wallet and has a chatbot assistant, degenai, providing suggestions in AI16Z’s Telegram and Discord groups.

The official 2025 outlook from AI16Z, which includes development plans for Eliza V2, its tokenomics, and support for the DeFi sector, has attracted significant investor attention. This led to a sharp increase in the token’s price, with a 7-day gain of 136.5% and a market cap of $2.287 billion. [13]

ZEREBRO (Zerebro Protocol) — Weekly increase of approximately 104.5%, with a circulating market cap of $760 million.
Zerebro is an autonomous AI system designed for creating, distributing, and analyzing content across decentralized and social platforms such as X, Warpcast, and Telegram. It uses advanced Retrieval-Augmented Generation (RAG) technology combined with high-entropy human data to avoid common AI model failures, ensuring diverse content. The native token, ZEREBRO, is deployed on Solana, while digital art assets are minted on Polygon.

The founder, Jeffy Yu, announced the development of Zentients, a consumer-facing AI agent launchpad that integrates with existing platforms to enhance user experiences. Additionally, ZEREBRO was listed on multiple exchanges, driving significant price growth fueled by these advancements and market activities. [14]

VIRTUAL (Virtuals Protocol) — Weekly increase of approximately 41.2%, with a circulating market cap of $4.379 billion.
Virtuals Protocol is an AI protocol designed to create AI characters for virtual worlds (such as games or online spaces) capable of interacting with users through text, voice, and actions. The protocol incentivizes decentralized creation and monetization of AI characters, catering to gaming, metaverse, and other virtual interaction scenarios.

Virtual Questflow announced a partnership with the leading decentralized application platform Virtuals, collaborating to build the Base Agents ecosystem. This partnership is expected to positively impact the ecosystem’s growth. The VIRTUAL ecosystem now includes over 200 projects built using the GAME framework, with a total market value exceeding $500 million and weekly growth of 200%. These developments have attracted more investors, contributing to the token’s price increase. [15]

Weekly Spotlights

Hot Topic Review

Elon Musk Changes X Account Name to “Kekius Maximus” Before Reverting in 48 Hours
On Tuesday, Tesla CEO Elon Musk temporarily changed his username on the social media platform X to “Kekius Maximus,” sparking widespread speculation. The new name appears to be a blend of alt-right symbols, memes, and the protagonist from the movie Gladiator. Musk also changed his profile picture to PEPE, depicted in Roman attire holding a video game joystick. While Musk did not explain the new username or profile picture, the move triggered a ripple effect in the crypto market, causing the value of meme tokens with similar names to soar. On the Solana chain, the price of Kekius M (KM) rose by up to 126x, briefly pushing its market cap past $45 million. Within 48 hours, Musk reverted his account name back to “Elon Musk” and replaced the PEPE-related avatar with his personal photo.

This event once again highlights the significant influence of social media in today’s crypto market. Platforms like X have become vital channels for information dissemination and opinion expression, with individual actions and statements capable of greatly impacting the market. [16]

Swiss Bitcoin Referendum Proposal Needs 100,000 Signatures in 18 Months
Dennis Porter, founder of the Satoshi Action Fund, posted on X about Swiss legislator Samuel Kullmann’s initiative to include Bitcoin in the Swiss Constitution. The effort requires the collection of 100,000 signatures within 18 months to trigger a nationwide vote on making Bitcoin part of Switzerland’s Constitution.

Previously, the Swiss federal government officially began reviewing the proposal, titled “For a financially strong, sovereign and responsible Switzerland (Bitcoin Initiative)” It has now been published in the Federal Gazette and is in the signature-gathering phase. The proposal aims to incorporate Bitcoin into Switzerland’s national financial system through a constitutional amendment. This groundbreaking attempt, if successful, could have profound implications for the global cryptocurrency industry. [17]

Shiba Inu to Launch TREAT Token in Early 2025
Shytoshi Kusama, lead developer of Shiba Inu (SHIB), shared updates about the upcoming TREAT token on X. TREAT will be the fourth and final official token in the Shiba Inu ecosystem. With SHIB: The Metaverse entering early access on December 25, Kusama indicated that TREAT is poised to be a key focus of the Shiba Inu roadmap in early 2025. TREAT is more than just another tradable asset in the Shiba Inu ecosystem. It is designed to incentivize participation, grant access to advanced features, and foster what Kusama refers to as a network state. The launch of TREAT is expected to bring new possibilities to the Shiba Inu ecosystem, attracting more users and developers alike. [18]

Security Incident

Multichain DeFi Protocol FEG Project Hacked, Losses Estimated at $1 Million
On December 29, Cyvers Alerts posted on platform X, reporting suspicious transactions involving the DeFi protocol FEG (Feed Every Gorilla) on chains such as Ethereum and Base. Approximately 19 hours prior, the attacker deployed a malicious contract, resulting in losses exceeding $1 million, including 712 BNB on BSC, 71 ETH on Base, and 96 ETH on Ethereum.

PeckShield, a blockchain security firm, stated that the root cause of the FEG hack appears to be a composability issue during integration with the Wormhole bridge used for cross-chain messaging and token transfers. The hacker created a fraudulent deposit message (using an unintended Wormhole relayer interface not supported by the audited FEG SmartBridge) and transmitted it to another chain. This message was then processed by the now-disabled FEG SmartBridge, allowing the hacker to extract FEG tokens. Notably, the SmartDeFi code remains unaffected. Meanwhile, the Wormhole Foundation clarified: “Today’s FEG token issue is unrelated to Wormhole. All Wormhole contracts are completely unaffected and unrelated to this issue.“ [19] [20]

Project Highlights

AAA Blockchain Game Seraph: “In the Darkness” Set to Launch TGE
Seraph’s game “SERAPH: In the Darkness” announced on X that its foundation has been officially established. As an AAA blockchain game combining gaming, blockchain, and AI technologies, Seraph delivers immersive interactions through a decentralized economic model and dynamic gameplay. The team stated that the TGE (Token Generation Event) is now in its final countdown phase, aiming to drive innovation and growth in the Web3 gaming ecosystem.

Developed by Seraph Studio, “SERAPH: In the Darkness” is a blockchain-based ARPG loot game inspired by classics like Diablo and Doom, which set benchmarks in the dark fantasy and action RPG genres. Players can explore treasures and craft equipment. Since its release on Steam in November 2023, “In the Darkness” has garnered significant participation and enthusiasm from the gaming community. [21][22]

Data Highlights

Base Chain Sets New Record with Over 13.3 Million Daily Transactions
According to BaseScan data, Base Chain achieved a new record on January 1, 2025, surpassing 13.3 million daily transactions, with approximately 600,000 new active addresses added that day. The total number of active addresses reached 200 million, demonstrating the ecosystem’s vitality and appeal. The record-high transaction volume highlights the rapid growth of its ecosystem, further solidifying its position in Ethereum’s Layer 2 market. While challenges and opportunities lie ahead, Base Chain’s growth trajectory offers significant insights for the broader blockchain industry. [23]

HYPE Total Staked Tokens Exceed 373 Million
Data from Hyperliquid shows that since staking was enabled on December 30, the total staked HYPE tokens have exceeded 373 million tokens (currently at 373,056,690), valued at approximately $9 billion. This metric is critical for evaluating the decentralization and security of the Hyperliquid network. In a Proof of Stake (PoS) network, the amount of staked tokens serves as a key indicator of the network’s decentralization and resistance to attacks. A higher staking volume means more validators are participating in block creation and transaction validation, enhancing the network’s security and censorship resistance. Furthermore, this demonstrates strong community support for the Hyperliquid network, which is essential for the sustainable growth of any blockchain project. [24]

SafePal Global Users Surpass 20 Million, Over 90% Growth This Year
The 2024 annual report from Web3 wallet brand SafePal revealed that its global user base has exceeded 20 million, reflecting growth of over 90% this year. In 2025, SafePal aims to enhance the cross-chain trading experience by integrating CeFi and DeFi services, and plans to strengthen its tokenomics by expanding SFPlus staking pool rewards, deepening partnerships, and broadening use cases for its SFP token.

The report also mentioned that SafePal’s banking gateway has expanded services to mainland China, added Mastercard support, and upgraded its account opening fee waiver program to a long-term exemption plan. These initiatives collectively underscore SafePal’s commitment to providing comprehensive and convenient financial services to meet the needs of its global user base. [25]

Market Opportunities

Project Airdrops

Airdrop Project to Watch This Week: OpenLoop

OpenLoop is a decentralized wireless network aimed at enhancing internet service delivery. It allows users to transform unused internet bandwidth into a powerful global network. In December 2024, OpenLoop completed a $15 million funding round led by the IPN Foundation, a venture capital fund focused on advancing AI and Decentralized Physical Infrastructure Networks (DePIN) technologies. With growing demand for secure, scalable, and fast connectivity solutions, OpenLoop offers unique advantages in addressing resource sharing, decentralized connectivity, and AI-driven optimization. This funding will play a critical role in driving the development of advanced technical architecture and next-generation infrastructure. [26]

How to Participate

Users can join the OpenLoop airdrop program through the following steps:

1. Download the Chrome browser extension.
2. Create an account.
3. Complete social tasks to earn points.
4. Keep the extension active to share network bandwidth.

Note:
The airdrop program and participation methods are subject to change. Users are advised to follow OpenLoop’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 completed fundraising rounds this week, spanning infrastructure, DeFi, gaming, and other areas of broad application. According to RootData, from December 27, 2024 to January 3, 2025, a total of 5 projects announced funding exceeding $10.8 million. [27]

Here are the top three fundraising projects by scale:

Nodepay, on December 27, completed a $7 million funding round with participation from investors including IDG Capital, Mythos, and Elevate Ventures. Nodepay is a decentralized bandwidth infrastructure designed for AI training. By connecting to the Nodepay network, users can sell unused internet bandwidth to AI companies, enabling efficient transmission of public training data, labels, model sharing, and remote distributed training.

Accountable, on December 30, secured $2.3 million in a seed funding round led by MitonC and Zee Prime Capital. The company is developing a privacy-focused data platform for real-time verification of borrowers’ assets, liabilities, and transaction risks. Through a centralized dashboard, users can link their custodial and exchange accounts, generating credit risk reports they can selectively share with lenders.

DataDance, on December 30, completed a multi-million-dollar funding round led by Hash Global. DataDance is an Ethereum Layer 2 network focused on protecting user privacy in the AI era while enabling seamless and secure transactions of user assets. By leveraging advanced encryption technologies and privacy protection mechanisms, DataDance ensures the confidentiality of user data and transaction information. The successful funding round marks the beginning of DataDance’s efforts to establish itself as the world’s largest decentralized data asset service and trading platform in Web3, in partnership with Hash Global to co-create a Web3 business ecosystem.

What to Watch Next Week

Token Unlock

According to Token Unlocks data, several major token unlock events are scheduled for next week (January 4 to January 10, 2025), with a total unlock value exceeding $113 million. [28]

Here are the top 3 upcoming unlocks for next week:

MOVE plans to unlock approximately 50 million tokens at 12:00 AM UTC on January 9, 2025, representing 2.22% of its circulating supply, valued at around $45.26 million. With MOVE’s recent average daily trading volume at around $347 million, this unlock is expected to have minimal impact on token price. \

KAS plans to unlock approximately 182 million tokens at 12:00 AM UTC on January 6, 2025, representing 0.72% of its circulating supply, valued at around $21.78 million. With KAS’s recent average daily trading volume at around $87 million, this unlock is expected to have minimal impact on its token price.

ENA plans to unlock approximately 12.86 million tokens at 7:00 AM UTC on January 8, 2025, representing 0.42% of its circulating supply, valued at around $12.82 million. With ENA’s recent average daily trading volume at around $269 million, this unlock is expected to have minimal impact on token price.

Crypto Calendar

Several important events next week (January 4-10, 2025) are expected to impact the cryptocurrency market, global economy, and energy markets [29]. Unichain mainnet will launch with Permissionless Fault Proofs on January 6 [30]. On January 8, the US will release API crude oil inventory data for the week ending January 3 [31]. The U.S. will publish initial jobless claims data for the week ending January 4 on January 9 [31]. Initial Jobless Claims serve as a key indicator of employment conditions, helping assess labor market health and U.S. economic activity. Typically, rising jobless claims indicate weakening economic activity, a softening labor market, and increased demand for safe-haven assets like gold.

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/zh/categories/virtuals-protocol-ecosystem
10. Coingecko, https://www.coingecko.com/en/categories/ai-agent-launchpad
11. Coingecko, https://www.coingecko.com/en/categories/ai-meme-coins
12. Coingedcko, https://www.coingecko.com
13. Gate.io, https://www.gate.io/zh/trade/AI16Z_USDT
14. Gate.io, https://www.gate.io/zh/trade/ZEREBRO_USDT
15. Gate.io, https://www.gate.io/zh/trade/
16. Jin10，https://flash.jin10.com/detail/20250101200523072800
17. X，https://x.com/DennisPorter/status/1874578360304541803
18. X，https://x.com/ShytoshiKusama/status/1874045427718512725
19. X，https://x.com/peckshield/status/1873786831868756036
20. X，https://x.com/CyversAlerts/status/1873322518594900130
21. X, https://x.com/Seraph_Fdn/status/1874244154982600748
22. Mirror.xyz，https://mirror.xyz/dason.eth/iYVVPgQYhHRv6pXC5NfZ36BqmVIHeGnjmwrjrAb_nSI
23. BaseScan，https://basescan.org/chart/tx
24. Hyperliquid，https://app.hyperliquid.xyz/staking
25. Safepal，https://www.safepal.com/safepal_2024_annual_report_cn
26. OpenLoop, https://openloop.so/
27. RootData, https://www.rootdata.com/Fundraising
28. Tokenomist，https://tokenomist.ai/unlocks
29. Gate.io, https://www.gate.io/calendar
30. Unichain，https://www.unichain.org/blog/wen-unichain-mainnet
31. Jin10，https://rili.jin10.com/day/2024-01-01

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