TL;DR

• BTC and ETH prices are fluctuating, with BTC dropping to $100,638.2, testing a key support level.
• Pump.fun’s cumulative revenue has surpassed $470 million, with over 6.7 million tokens deployed.
• Jupiter’s TVL has exceeded $2.9 billion, reaching a new all-time high.
• Ohio, USA, has rolled out a strategic Bitcoin reserve bill.
• Brazil has banned Worldcoin’s local iris-scanning program

Market Analysis

• BTC — The price of BTC has decreased by 3.83% over the past 24 hours, with the current price at $100,638.2. BTC has been fluctuating within a range recently, with resistance around $107,000 and support at approximately $101,000. The short-term moving averages have turned downward, and the price is below several moving averages, indicating that short-term bearish sentiment is dominant. During the pullback, trading volume has increased, indicating strong selling pressure[1].

• ETH — The price of ETH has dropped by 5.17% over the past 24 hours, with the current price at $3,166.54. The short-term resistance for ETH is around $3,415, with support near $3,150. After a rapid decline, the price is approaching the lower boundary support level. The MACD indicator shows an acceleration in the momentum bars, indicating that short-term bearish momentum is intensifying[2].

• ETF — According to SoSoValue data, the total net inflow into the US Bitcoin spot ETF was $517 million on January 24[3], while the total net inflow into the US Ethereum spot ETF was $9.18 million, with the data as of January 27, 04:00 UTC+0[4].
• Altcoins — The Base Meme, Cat-Themed, and Tokenized Assets sectors have increased by +5.5%, +1.1%, and +0.1%, respectively [5].
• US Stock Market Indices — On January 24, the S&P 500 index fell by 0.29%, the Dow Jones index dropped by 0.32%, and the Nasdaq index declined by 0.50%[6].
• Spot Gold — The spot price of gold is at $2,759.91 per ounce, down 0.47% for the day[7].
• Fear and Greed Index — The Fear and Greed Index stands at 71, indicating that the market is in a 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:

ACH (Alchemy Pay) — The price increased by approximately 44.38% in a single day, with a circulating market capitalization of $146 million.
Alchemy Pay is a payment solution provider that facilitates easy cryptocurrency and fiat currency payments for both online and offline merchants. It simplifies the entry into the blockchain ecosystem and makes Web3 services highly accessible. Recently, Alchemy Pay has formed multiple ecosystem partnerships, becoming the official service provider for Mantle, MorphLayer, and Uniswap. It supports the purchase of crypto assets with fiat currencies from multiple countries, significantly expanding its use cases. Additionally, it has integrated with exchanges to enhance liquidity. The market’s expectations for Alchemy Pay as Web3 payment infrastructure are rising, driving both demand and token price growth[10].

SWFTC (SwftCoin) — The price increased by approximately 119.24% in a single day, with a circulating market capitalization of $270 million.
SWFTC deeply integrates AI and blockchain technology, aiming to enhance the efficiency and intelligence of crypto transactions through a tokenized economic model. It is positioned as the core payment and governance medium for “AI + Blockchain” infrastructure. Recently, SWFTC has rapidly expanded its cross-chain ecosystem services, launching multiple token swaps. It has also strengthened its AI narrative with SWFTGPT, which offers intelligent trading analysis and prediction tools, reinforcing its innovation in “AI + Blockchain.” Since December, 2024, the token has accumulated nearly a 250% increase in market enthusiasm, further driving up its value.

SPELL (Spell Token) — The price increased by approximately 36.99% in a single day, with a circulating market capitalization of $237 million.
SPELL is the reward token for the decentralized lending protocol Abracadabra.money. Users can stake interest-bearing tokens as collateral to borrow the stablecoin MIM, pegged to the US dollar, to amplify their investment returns. Recently, SPELL partnered with LayerZero to enhance the cross-chain circulation of MIM. Additionally, it launched a USDT/MIM liquidity pool on Arbitrum, where users can stake LP tokens to mine $HERMES rewards. This incentivizes liquidity lockup, directly increasing the demand for MIM and enhancing SPELL’s governance and reward value, thus driving up its token price[12].

Data Highlights

Pump.fun’s cumulative revenue exceeds $470 million, with over 6.7 million tokens deployed
Pump.fun, a blockchain-based token launching platform, has seen its cumulative revenue surpass $470 million, with over 6.7 million tokens deployed, solidifying its position as a leader in the meme coin issuance space. The platform’s growth has largely been driven by speculative demand fueled by the meme coin boom and its low-barrier token issuance mechanism. Since the beginning of 2025, the platform’s revenue growth has significantly accelerated, with daily revenue surpassing $5 million multiple times[13].

Momodrome’s TVL surpasses $5.33 million
Momodrome’s Total Value Locked (TVL) has rapidly increased, recently surpassing $5.33 million, reflecting growing market confidence in the protocol. To incentivize long-term ecosystem growth, Momodrome has introduced the ve33 mechanism, which locks liquidity provider tokens via voting to deeply integrate them with the protocol, while accelerating synergies with the Morph ecosystem. With the liquidity migration from Epoch 0 now underway, Momodrome is poised to attract more long-term capital, bringing higher value to users within the ecosystem[14].

Jupiter’s TVL surpasses $2.9 billion, setting a new all-time high
The decentralized exchange platform Jupiter has recently seen its TVL exceed $2.9 billion, reaching a new historical peak. The platform’s 24-hour trading volume launching $1.817 billion, with perpetual contracts and aggregator trading volumes at $1.222 billion and $4.703 billion, respectively, highlighting high market activity[15].
This achievement is closely tied to several recent developments for Jupiter, including the launch of the Jupuary airdrop to reward the community, the acquisition of a majority stake in Moonshot to expand its product portfolio, the launch of a $10 million MAGIC FUND in collaboration with elizaOS to support ecosystem projects, and the completion of the burning of 3 billion JUP tokens, reducing the total supply from 10 billion to 7 billion tokens. These actions further cement Jupiter’s position as the core liquidity aggregator within the Solana ecosystem, driving both TVL and user retention to continue rising[16].

Spotlight Analysis

DeepSeek tops the Apple App Store Free Chart in China
According to Jin10 data, DeepSeek has claimed the top of the Apple App Store’s free chart in China, becoming the number one free app. Developed by a Chinese team, DeepSeek is an AI application that has rapidly gained significant attention in the tech world, especially in overseas markets. Not only has it sparked a frenzy abroad, but it has also been linked to the pre-market plunge in U.S. stocks and the drop in the cryptocurrency market. Some analysts suggest that its swift rise contributed to pressure on the tech stock sector, with concerns about the overheating of the AI concept possibly triggering a chain reaction that affected the cryptocurrency market. Despite the ongoing controversy, this situation highlights the sensitive interplay between emerging technologies and financial markets, suggesting that more attention is needed on the real value and potential risks of such innovation trends in the future[17].

Ohio, USA, introduces a strategic Bitcoin reserve bill
The state of Ohio in the U.S. has proposed a new bill to establish a “strategic Bitcoin reserve.” This bill would allow up to 10% of general funds, budget stabilization funds, and prize trust funds to be allocated into Bitcoin, with the assets’ market value needing to reach $750 billion and meet a 12-month average. Additionally, the bill uses the technology-neutral term “digital assets” to reduce political resistance, emphasizing self-custody or qualified custodial solutions to ensure security. The bill was introduced by Majority Whip Steve Demetriou and supported by six other lawmakers. Its goal is to protect purchasing power and hedge against inflation[18].

Brazil bans local Worldcoin iris scan-to-crypto exchange program
Brazil’s National Data Protection Authority (ANPD) has ordered the operator of Worldcoin, Tools for Humanity, to cease offering iris scans and cryptocurrency rewards in Brazil. The ANPD began investigating the World ID project last November, expressing concerns that collecting biometric data through cryptocurrency rewards might undermine users’ free consent, particularly affecting vulnerable groups. Under Brazilian law, the processing of sensitive personal data requires free, informed, explicit, and specific consent. The ANPD is also worried about the sensitivity of biometric data and the irreversible nature of its collection. Previously, Germany’s data protection authority also raised compliance issues with the project. Following this news, the native token of Worldcoin, WLD, dropped more than 9% within 24 hours and has fallen over 80% from its historical high[19].

Funding News

According to RootData, over the past 24 hours, one project announced a funding round, with a total amount raised of approximately $1.58 million. The funding involves the payments sector. Below are the details of the funding round[20]:

Accrue — Accrue has completed a $1.58 million seed funding round, with participation from Lattice Fund, Maven 11, and others. Accrue is a fintech company focused on cross-border payments and financial infrastructure in Africa. Its core product, Cashramp, provides fast and low-cost cross-border payment solutions, enabling users to transfer funds between African countries within minutes[21].

Airdrop Opportunities

SOMO

SOMO is a cross-media IP project that integrates fantasy storytelling, blockchain, and AI technology, aiming to create the next generation of immersive interactive entertainment experiences. By leveraging technology, SOMO seeks to build a “ownable, interactive, and scalable” metaverse ecosystem, positioning itself as a benchmark brand across global entertainment sectors[22].

$SOMO, as the core token of the SOMO ecosystem, is primarily used for entertainment experiences, rights distribution, and governance participation. The SOMO token not only unlocks exclusive experiences (such as limited content and access to premium events) but also drives the long-term development of the IP ecosystem through its governance mechanisms. Meanwhile, the platform’s daily circulation tokens support regular transactions (such as in-game purchases and real-world service interactions), forming a dual-layer economic model. These two components work together to establish decentralized governance and a sustainable economic cycle of high-frequency interactions.

How to Participate:

1. Start the SOMO Tap Tap Tripps game on Telegram.
2. Tap to collect coins and strengthen your game team.
3. Complete social media-related tasks and invite friends to earn more token opportunities.

Note:
The airdrop plan and participation methods may be updated at any time, so users are advised to follow SOMO’s official channels for the latest information. At the same time, users should participate with caution, be aware of risks, and conduct thorough research before engaging. 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/zh/bigdata
9. Gate.io,https://www.gate.io/price
10. X,https://x.com/AlchemyPay/status/1882692146509320507
11. X,https://x.com/SwftCoin/status/1882644758058979598
12. X,https://x.com/MIM_Spell/status/1877820686195908694
13. dune,https://dune.com/adam_tehc/pumpfun
14. defillama,https://defillama.com/protocol/momodrome
15. defillama,https://defillama.com/protocol/jupiter?fees=false&revenue=false&events=false
16. X,https://x.com/JupiterExchange/status/1883619472487100496
17. Jin10,https://flash.jin10.com/detail/20250127071023450800
18. X,https://x.com/DennisPorter/status/1882854664284344826
19. cointelegraph,https://cointelegraph.com/news/brazil-bans-worldcoin-giving-crypto-eye-scans
20. Rootdata,https://www.rootdata.com/Fundraising
21. scratched-wizard,https://scratched-wizard-8e4.notion.site/We-Raised-A-1-58m-Seed-Round-And-Turned-3-15c0c5d0dbb84a369766e61a9d6a977c
22. somo,https://somo.xyz/
    
    

Gate Research
Gate Research is a comprehensive blockchain and crypto research platform, providing readers with in-depth content, including technical analysis, hot insights, market reviews, industry research, trend forecasts, and macroeconomic policy analysis.
Click the Link to learn more

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.