
DeFAI, a fusion of Decentralized Finance DeFi and Artificial Intelligence AI, represents a significant evolution in on-

Understand DeFAI in 5 Minutes

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<div>
<h2 class="heading-2"><strong>Headline News</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusZU2MCLuJNqJ534u0FEfALh" data-list="bullet">
<div>- The Bitcoin price was muted last week, closing the week with slight decline of approximately 0.36%. The high uncertainty environment of macroeconomics decreased the investors' risk appetite. Bitcoin ETFs experienced the largest net outflow of $651.83 million since September 2024.</div>
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<div>
<h2 class="heading-2"><strong>Macro-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-RVqjdpkT3o32MwxNg6Fu36TqsId" data-list="bullet">
<div>- Jerome Powell re-emphasised the Federal Reserve stand to stay patient on rate cuts during his testimony to Congress.</div>
</li>
<li class="ace-line ace-line old-record-id-MsTHdrED1owqNwxnEjMuS6Z3sBe" data-list="bullet">
<div>- The U.S. inflation rate in January increased to 3%, higher than the 2.9% market expectation. Meanwhile, PPI increased to 3.5% in January, well above market expectation of 3.2%. Despite that, given the PPI components, economists lowered their expectation that January core PCE to the range around 0.22% to 0.3% from 0.4% to 0.45%. The slightly more benign inflation expectation suppressed the 10-Year government bond yield from a high of 4.66% to 4.48% at the end of the week.</div>
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<li class="ace-line ace-line old-record-id-doxuscSckfcFUUqP1B10qJbidve" data-list="bullet">
<div>- Howard Lutnick, the president's nominee to lead the Commerce Department, stated the studies of reciprocal tariffs should be completed by April 1 and Trump could act immediately afterward.</div>
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<div>
<h4 class="heading-4"><strong>Upcoming Economic Calendar including,</strong></h4>
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<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxus9igR7nDpM0rSz5iG9Ko8Bc" data-list="bullet">
<div>- Thursday, February 20, 3:00am: The FOMC Minutes</div>
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<div class="ace-line ace-line old-record-id-doxusWY7ceGkNHVRLwS8g3zH0Ac">&nbsp;</div>
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<div>
<h2 class="heading-2"><strong>Weekly-Cryptos-Overview</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxus85KRnbdZS0DVVpW0jpgycf" data-list="bullet">
<div>- The Wisconsin State Pension Fund increased their IBIT shares from 2,889,251 to 6,060,351 in Q4 2024.</div>
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<li class="ace-line ace-line old-record-id-PGF3dTS4LoeOjMxOCIkuZ8ngs1h" data-list="bullet">
<div>- The Argentine President, Javier Milei, faced impeachment calls after promoting LIBRA token, which ended up being rugged. The token was dumped by insiders from the&nbsp;<a rel="nofollow" href="https://x.com/kelsierventures/status/1890914579493863532">team</a>, KoLs and some accused individuals from <a rel="nofollow" href="https://x.com/JupiterExchange/status/1891181433588470052">Jupiter</a> team had relevant insider information before the launch.</div>
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</ul>
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<h3 class="heading-3 ace-line old-record-id-doxuspofSlpua1N46c25VEo6JAc">&nbsp;&nbsp;<strong>Layer 1 and Layer 2s</strong></h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusEm3FHRbnbQqoN76DbUsU9w" data-list="bullet">
<div>- XION onboard&nbsp;<a rel="nofollow" href="https://app.earnos.com/mission/im-on-the-way-with-uber?ref=krypthye">Uber</a> to mainnet with <a rel="nofollow" href="https://x.com/burnt_xion/status/1889337902980870552">EarnOS</a>, helping the company to reach a broader customer base and reward users with real-demand.</div>
</li>
<li class="ace-line ace-line old-record-id-Q7wLdMBF7ouxh2xSWdBuI6TSs6b" data-list="bullet">
<div>- Arbitrum launched&nbsp;<a rel="nofollow" href="https://www.theblock.co/post/340278/offchain-labs-releases-arbitrum-bold-on-mainnet-for-permissionless-validation">BoLD</a> on the mainnet, enabling permissionless validation of the Layer-2 networks.</div>
</li>
<li class="ace-line ace-line old-record-id-CAAodKsIuojn8Mx8D5QuQSAOsAj" data-list="bullet">
<div>- Lens, the Web3 social platform, announced Lens Chain will be using&nbsp;<a rel="nofollow" href="https://x.com/LC/status/1889743207904485631">GHO</a> as the gas token.</div>
</li>
<li class="ace-line ace-line old-record-id-OHhhdcJpCoLvOyx624TusmxhsOR" data-list="bullet">
<div>- Union Fintech launched&nbsp;<a rel="nofollow" href="https://x.com/zksync/status/1889876479514673622">Union Chain</a> with zkSync stack to establish a regulated exchange and RWA tokenisation platform.</div>
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<div class="ace-line ace-line old-record-id-doxusURmGAnnyiVLZWoaZWKTvfe">&nbsp;</div>
<h3 class="heading-3 ace-line old-record-id-doxusKST876fPUnlYVPSjJGG91e">&nbsp;&nbsp;Dapps</h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-Y4bid3zh8ooPuexuBXHu5lTsssd" data-list="bullet">
<div>- Ondo announced strategic partnership with&nbsp;<a rel="nofollow" href="https://x.com/OndoFinance/status/1889675990055657623">World Liberty Finance</a> to integrate USDY, OUSG and tokenised securities from upcoming GM into the WLFI platform.</div>
</li>
<li class="ace-line ace-line old-record-id-doxusigfRUUFBTcpCsBsnxPufWc" data-list="bullet">
<div>- Lido V3 introduced&nbsp;<a rel="nofollow" href="https://blog.lido.fi/lido-v3-ethereum-staking-infrastructure/">stVaults</a>, a customised vault solution for configuration such as institution staking that connects to specific Node Operators, leverage strategies, restaking exposure and more.</div>
</li>
<li class="ace-line ace-line old-record-id-CHBfdmgSHolhUtxbuyuuzgffsxe" data-list="bullet">
<div>- Uniswap launched the highly anticipated&nbsp;<a rel="nofollow" href="https://x.com/unichain/status/1889313993296064770">Unichain</a>, the Layer-2 has attracted over $25 million TVL in a week.</div>
</li>
<li class="ace-line ace-line old-record-id-OJ4QdwpX9obAJ8xPWIZua86Bsse" data-list="bullet">
<div>- VaderAI introduced&nbsp;<a rel="nofollow" href="https://x.com/VaderResearch/status/1889816510711079171">Early Agent Offering</a>, a pre-sale launchpad to all VADER stakers. Stakers who sell the pre-sales token early will get their whitelist points slashed and diamond hands will be rewarded with more points for the next pre-sale.</div>
</li>
<li class="ace-line ace-line old-record-id-IK5dd8CeboA81QxTih4uZBQksC6" data-list="bullet">
<div>- Unit, a tokenisation layer for&nbsp;<a rel="nofollow" href="https://x.com/hyperunit/status/1890437173738107107">Hyperliquid</a>. The protocol was introduced to onboard native BTC to Hyperliquid for unified CLOB spot trading experience. More assets such as ETH and SOL are expected to be integrated soon.</div>
</li>
<li class="ace-line ace-line old-record-id-GRiydV6t9oQEMrx9aMXuv3uAsHe" data-list="bullet">
<div>- Nous Research introduced&nbsp;<a rel="nofollow" href="https://x.com/NousResearch/status/1890148000204485088">DeepHermes-3 Preview</a>, their new LLM that unifies reasoning and intuitive language model capabilities.</div>
</li>
<li class="ace-line ace-line old-record-id-ExMndVPYqoPt0UxakanuYs0Csji" data-list="bullet">
<div>- RedStone, the oracle solution for pricing underlying assets, introduced&nbsp;<a rel="nofollow" href="https://blog.redstone.finance/2025/02/12/introducing-red-tokenomics/">RED</a> token. The token is designed to be staked as oracle network security via EigenLayer AVS mechanism. 51.7% token supply is allocated to the team and backers, with the first major unlock after 12 months.</div>
</li>
<li class="ace-line ace-line old-record-id-D4wnd8qDioaGOHxFu4fuuqiCsMt" data-list="bullet">
<div>- MyShell introduced&nbsp;<a rel="nofollow" href="https://x.com/myshell_ai/status/1890024055404892501">SHELL</a> token, the native token to compensate AI agent creators and the payment token to use the AI tools on MyShell. MyShell also announced major updates on <a rel="nofollow" href="https://x.com/myshell_ai/status/1891100435257434359">ShellAgent</a> features with more seamless codeless AI configuration, direct social media interactions, and more on-chain copilot capabilities.</div>
</li>
</ul>
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<div>
<h2 class="heading-2"><strong>Upcoming Alpha and Governance</strong></h2>
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<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxus93zp3vH0x9gBgjY7zuA3If" data-list="bullet">
<div>- CoinDesk is holding the Consensus conference in Hong Kong from February 18 to 20.</div>
</li>
<li class="ace-line ace-line old-record-id-AqV6dAsbtoKyLXxQnDCuVqffsyh" data-list="bullet">
<div>- Jupiter is starting its&nbsp;<a rel="nofollow" href="https://x.com/JupiterExchange/status/1890089764218630253">buyback</a> using 50% of all protocol fees on Monday. Jupiter is also expected to deliver technical previews on the <a rel="nofollow" href="https://x.com/weremeow/status/1890414960074698878">Jupnet</a> in April.</div>
</li>
<li class="ace-line ace-line old-record-id-QIprdfqEJo8ldmxG1gPuAkeWsUg" data-list="bullet">
<div>- Kaito introduced&nbsp;<a rel="nofollow" href="https://x.com/_kaitoai/status/1890379872280682548">KAITO</a> token as the participating token of its platform, network currency and governance. The token generation has been spotted on Base, with more details expected this week.</div>
</li>
<li class="ace-line ace-line old-record-id-Ari7dg4JvoDyROxnV7DuZQudsGh" data-list="bullet">
<div>- Ethereum Foundation deployed&nbsp;<a rel="nofollow" href="https://x.com/ethereumfndn/status/1889978208986280031">45,000 ETH</a> to participate in DeFi protocols such as AAVE, Spark Finance and Compound. The foundation is exploring staking next.</div>
</li>
<li class="ace-line ace-line old-record-id-UGTadqySCo6zVCxFHXzuHDS9sV8" data-list="bullet">
<div>- Liquity V2 found&nbsp;<a rel="nofollow" href="https://x.com/LiquityProtocol/status/1890091102239408544">vulnerability</a> in the Stability Pools, and an update on redeployment is expected next week. Quill Finance has launched a friendly fork on Scroll, two other forks are expected in the coming week and more in March.</div>
</li>
<li class="ace-line ace-line old-record-id-BUVjdqOoyoiRVrxBTUKulWkSssf" data-list="bullet">
<div>- Doodle announced it will be launching&nbsp;<a rel="nofollow" href="https://x.com/doodles/status/1890082282364629239">DOOD</a> token on Solana.</div>
</li>
<li class="ace-line ace-line old-record-id-Jaauds7Hdo4GCtx49lQum1CpsBf" data-list="bullet">
<div>- OpenSea announced it will be launching&nbsp;<a rel="nofollow" href="https://x.com/openseafdn/status/1890041091577057522">SEA</a> token soon without much details.</div>
</li>
</ul>
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<div class="ace-line ace-line old-record-id-doxusKnC01Dp0PIYdkOcmcm1nhe">
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<h3 class="heading-3"><strong>Token Unlock</strong></h3>
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<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-VI4sdvlFOo5DWOxdFc2uPlsNsvf" data-list="bullet">
<div>- MELANIA token unlocked on February 20, amount representing 23.3% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-W8uVd9nr5oZ6ndxCoYDugenms5c" data-list="bullet">
<div>- IMX token unlocked on February 21, amount representing 1.41% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-DVVAddixxotkQ1xLLAru1VNVs8c" data-list="bullet">
<div>- PLUME token unlocked on February 21, amount representing 5.32% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-NdXxdf8aQoe0KKxQwTKumahGsuh" data-list="bullet">
<div>- ALT token unlocked on February 25, amount representing 9.47% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-S7pxdkC9roKAxwxJksKuh9bxscg" data-list="bullet">
<div>- OP token unlocked on February 28, amount representing 2.39% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-Ap83daqEOoHjaBx1W7buMdZCsFd" data-list="bullet">
<div>- GRASS token unlocked on February 28, amount representing 1.52% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-UiMKdUnxNorMD6x7QZ1uBVMAsVe" data-list="bullet">
<div>- SUI token unlocked on March 1, amount representing 2.60% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-Oo9FdwlaPodo9px0YaiuMqBasSb" data-list="bullet">
<div>- ENA token unlocked on March 2, amount representing 3.02% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-PhhPdwWijoXaYkxrcQLu4hgwske" data-list="bullet">
<div>- JTO token unlocked on March 7, amount representing 3.84% of the token supply.</div>
</li>
</ul>
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<div class="ace-line ace-line old-record-id-doxusQS6znQdfoz7A1UzxMkUTBz">&nbsp;</div>
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Headline News



- The Bitcoin price was muted last week, closing the week with slight decline of approximately 0.36%

Weekly Market Insight: February Week 3 

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<div class="ace-line ace-line old-record-id-doxusOMJYBs8etdgwc64Fl5ORNc">
<div>
<h2 class="heading-2"><strong>Headline News</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusZozwdbZrYArSJPLksrWKWe" data-list="bullet">
<div>- Despite Trump halting tariffs on Mexico, Canada and low-cost packages from China, the market stayed extremely cautious. After recovering from Monday liquidation, Bitcoin was traded at a tightening range and closed the week with a 1.07% decline.</div>
</li>
<li class="ace-line ace-line old-record-id-Vg8idUEVloyfTqxguG9uhlaGskc" data-list="bullet">
<div>- However, Bitcoin ETFs still experienced a weekly net inflow of $203.54 million. Stablecoin market cap extended its 6th consecutive increase, resulting in over $4.33 billion new stablecoin issued on chain.</div>
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</ul>
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<div class="ace-line ace-line old-record-id-doxustUyr6oDwVRglhwlyOYDWLb">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusovscY5VTRK9pE9LgraZvMc">
<div>
<h2 class="heading-2"><strong>Macro-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusrbwwvxHwdeCy1o7TbiOYpb" data-list="bullet">
<div>- The U.S. Manufacturing PMI increased to 50.9 in January, higher than the expected 49.8. It is the first expansion in manufacturing after 26 consecutive months of contraction. Meanwhile, services PMI increased to 52.8 in January, well below expectation of 54.3.</div>
</li>
<li class="ace-line ace-line old-record-id-FDYFdrtC1oZCw8xrN4huCgFGsJn" data-list="bullet">
<div>- The U.S. Non-Farm Payrolls increased 143K in January, below market expectation of 170K. The unemployment rate in January decreased to 4%, the lowest level since March 2024 and below the market expectation of 4.1%.</div>
</li>
<li class="ace-line ace-line old-record-id-UWxMd9AAfohmhTxPRTRujKVMs9b" data-list="bullet">
<div>- Trump announced his plans to unveil&nbsp;<a rel="nofollow" href="https://www.bloomberg.com/news/articles/2025-02-07/trump-says-he-will-announce-reciprocal-tariffs-next-week">reciprocal tariffs</a> next week. The market expects the upcoming announcement to include new tariffs on EU countries.</div>
</li>
</ul>
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</div>
<div class="ace-line ace-line old-record-id-doxusoFvYcMX3t7xn3aOuCKI01g">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxuseAxQyM1anpHEkYAYs3VVZc">
<div>
<h4 class="heading-4"><strong>Upcoming Economic Calendar including,</strong></h4>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusM3nOAlMGymHQPi62f9Xbmb" data-list="bullet">
<div>- Tuesday, February 11 and 12, 11:00pm: Testimony of Jerome Powell to Congress</div>
</li>
<li class="ace-line ace-line old-record-id-YaOTdtvjqob6uXxi4W3u8sn8scd" data-list="bullet">
<div>- Wednesday, February 12, 9:30pm: The U.S. Inflation Rate in January</div>
</li>
<li class="ace-line ace-line old-record-id-Ad5ldTsFMoUG7MxzwwQuLvcrsqg" data-list="bullet">
<div>- Thursday, February 13, 9:30pm: The U.S. PPI in January</div>
</li>
<li class="ace-line ace-line old-record-id-XTuedRgY7ogxIrxC4CBuLkdSs5b" data-list="bullet">
<div>- Friday, February 14, 9:30pm: The U.S. Retail Sales in January</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusf2JBLS3iHSaD5HkE9DBdAd">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusI3PLQmSaRQa9pEEX4KM22d">
<div>
<h2 class="heading-2"><strong>Weekly-Cryptos-Overview</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusPxCn4zqRhDfvhmsoNS4XMc" data-list="bullet">
<div>- The Czech president signed a bill exempting Bitcoin holding more than 3 years from&nbsp;<a rel="nofollow" href="https://www.theblock.co/post/339287/czech-president-signs-law-exempting-capital-gains-taxes-on-crypto-held-for-three-years#:~:text=Quick%20Take,country's%20parliament%20in%20early%20December.">capital gain tax</a>.</div>
</li>
<li class="ace-line ace-line old-record-id-VGtWdbRD7o44eKxrtv3uC8bMsse" data-list="bullet">
<div>- The Ethereum Foundation transferred 50,000 ETH to a multi-signature wallet which plans to participate in Ethereum DeFi protocols.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusgUyZD6EIxXlfNeBsKQNdRd">
<div>
<div>&nbsp;</div>
<div>
<h3 class="heading-3 ace-line old-record-id-doxuspx334XbhuM1UhkVKmY39bc">&nbsp;&nbsp;<strong>Layer 1 and Layer 2s</strong></h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-EiZvdF6FnorP8BxlvhBuPnsYsJf" data-list="bullet">
<div>- Beachain has launched its&nbsp;<a rel="nofollow" href="https://x.com/berachain/status/1886777450480259265">mainnet</a>. Berachain pioneered the concept of Proof of Liquidity, where applications are built on top of the shared liquidity pools and being incentivised by the mechanism.</div>
</li>
<li class="ace-line ace-line old-record-id-doxushu8DSPNnr4r4baH1q4KK0e" data-list="bullet">
<div>- Solayer has released its&nbsp;<a rel="nofollow" href="https://x.com/solayer_labs/status/1887533566676115532">LAYER</a> token details with 51.23% allocated to the community. Team &amp; advisor and investors allocation will be vested with the first cliff release in a year. LAYER utility will be centered around governance at launch, while the team plans to enable LAYER to participate in staking and gas payment in the future.</div>
</li>
<li class="ace-line ace-line old-record-id-YC9idN97YoHCBjx8CFUu9jP3sq9" data-list="bullet">
<div>- Polygon released Agglayer v0.2 on the mainnet, allowing chains with different security models to connect with&nbsp;<a rel="nofollow" href="https://x.com/Agglayer/status/1886439865295765589">pessimistic proof</a>.</div>
</li>
<li class="ace-line ace-line old-record-id-CzzwdtZKloGfZHxkq57ujKsNsic" data-list="bullet">
<div>- MegaETH introduced its flagship soulbound NFT collection,&nbsp;<a rel="nofollow" href="https://x.com/megaeth_labs/status/1886947683220234670">The Fluffle</a>. The NFT holders will be entitled to 5% allocation of the token supply with 6 month linear vest.</div>
</li>
<li class="ace-line ace-line old-record-id-RPqsd6G8moMpZMxSGHbulPJHsfd" data-list="bullet">
<div>- AO has launched its&nbsp;<a rel="nofollow" href="https://x.com/aoTheComputer/status/1888367204523000259">mainnet</a>, a decentralized supercomputing environment powered by Arweave.</div>
</li>
<li class="ace-line ace-line old-record-id-HwCZdl9gQo9QvLxsc6cuu00gsxP" data-list="bullet">
<div>- Story Protocol released its&nbsp;<a rel="nofollow" href="https://x.com/StoryProtocol/status/1887833486645702865">IP</a> token, allocating 58.4% to ecosystem, community and foundation. The token is used for staking, gas payment (portion of the gas is burnt for each transaction) and governance. The first significant increment of unlocking is scheduled 10 months after launch.</div>
</li>
<li class="ace-line ace-line old-record-id-SnTZdTNOOo4cU3xjIx7uQ2OqsFe" data-list="bullet">
<div>- Avail, Symbiotic and Radius introduced&nbsp;<a rel="nofollow" href="https://x.com/AvailProject/status/1887263843673354320">Alpha Engine</a>, enabling developers to seamlessly launch high throughput rollups through shared security and capture revenue from MEV.</div>
</li>
</ul>
<div class="ace-line ace-line old-record-id-doxusXxF1hIIVrNCwwBEBhJUbrd">&nbsp;</div>
<h3 class="heading-3 ace-line old-record-id-doxus2N61ZtVw7BMXnNG1bQeLte">&nbsp;&nbsp;Dapps</h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-QidadChI1ozRz4xSRbJuNzRqs2d" data-list="bullet">
<div>- Ondo Finance held the Ondo Summit in New York last week. During the event, the team introduced&nbsp;<a rel="nofollow" href="https://x.com/OndoFinance/status/1886460786224042447">Ondo Nexus</a>, enabling instant liquidity for tokenised Treasury issued by third party issuers such as Franklin Templeton, WisdomTree, Wellington Management, and Fundbridge Capital. The team also introduced <a rel="nofollow" href="https://x.com/OndoFinance/status/1887522597480337672">Ondo Chain</a>, featuring permissioned validators ran by select financial institutions, publishing key off-chain data and ran their own DVN to detect address details such as KYC and sanction information. The team also reintroduced Ondo Global Market (<a rel="nofollow" href="https://x.com/OndoFinance/status/1886822778277351608">Ondo GM</a>), a platform for tokenised securities and plans to launch it within 2025.</div>
</li>
<li class="ace-line ace-line old-record-id-OOEDdrXYXoAe9axCCXMuWpcNs8c" data-list="bullet">
<div>- Pendle released&nbsp;<a rel="nofollow" href="https://medium.com/pendle/pendle-2025-zenith-cf1a91e6e23f">2025 roadmap</a> that focuses on v2 improvement with opening up permissionless listing and dynamic fees, expanding to Solana, Hyperliquid and TON networks, integrating RWA assets, and the launch of Boros.</div>
</li>
<li class="ace-line ace-line old-record-id-VSjYdzjm3oGGQ3x6pnOuYKAlsMe" data-list="bullet">
<div>- Frax Finance launched Borrow Automated Market Maker (<a rel="nofollow" href="https://x.com/fraxfinance/status/1886867943184851214">BAMM</a>), enabling users to borrow and lend from LP positions from Fraxswap on Fraxtal chain, significantly increasing users' capital efficiency.</div>
</li>
<li class="ace-line ace-line old-record-id-Ld2FdnsM6obstYx7B1EudRLOsRf" data-list="bullet">
<div>- Coop Records launched its first&nbsp;<a rel="nofollow" href="https://x.com/soneium/status/1887699795919225281">music collection</a> on Soneium via Sonova launchpad.</div>
</li>
<li class="ace-line ace-line old-record-id-H7qAdZO6Eoo1Zkx5Wuyu9glLs5e" data-list="bullet">
<div>- Goldfinch launched&nbsp;<a rel="nofollow" href="https://x.com/goldfinch_fi/status/1886841407647699010">Goldfinch Prime</a> on Base, introducing institutional-grade private credit funds from multiple asset managers in a single vault.</div>
</li>
<li class="ace-line ace-line old-record-id-OsrNdkvVXoIlVUxnscnufVXIsVf" data-list="bullet">
<div>- Thorchain plans to issue creditors a new&nbsp;<a rel="nofollow" href="https://x.com/THORChain/status/1886110777939292225">TCY</a> token, as part of efforts to resolve the $200 million debit crisis from ThorFi. TCY holders will be entitled to 10% of THORChain's revenue in perpetuity.</div>
</li>
<li class="ace-line ace-line old-record-id-RfKHdHNxgoi6HNx2N6euTxJ6squ" data-list="bullet">
<div>- HeyAnon, the DeFAI protocol, has launched its&nbsp;<a rel="nofollow" href="https://x.com/HeyAnonai/status/1887926481004745049">public beta</a> v0.1 across multiple networks including Ethereum, Base, Sonic and more.</div>
</li>
<li class="ace-line ace-line old-record-id-JYyWdkDJ8oZMdNxvql6umrOasTg" data-list="bullet">
<div>- Grass Protocol announced&nbsp;<a rel="nofollow" href="https://x.com/getgrass_io/status/1886541454664974807">Phase 2 of Sion Upgrade</a>, aiming to increase the efficiency of data scraping by 15x.</div>
</li>
<li class="ace-line ace-line old-record-id-Ok0AdxmdWokEoex607RugyS4sde" data-list="bullet">
<div>- Eigen Layer introduced&nbsp;<a rel="nofollow" href="https://x.com/eigenlayer/status/1886880694019788973">Verifiable Agents</a> using AVSs to verify inferences, implement output policy and Event-Driven Activations (EDA) which agents can react to specific on-chain/off-chain events.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusTdxmUcaCux7hMlAbtREtWz">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusiJKHqf94vhIoFGjBKgvwed">
<div>
<h2 class="heading-2"><strong>Upcoming Alpha and Governance</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusVNMx9JLuhEPk8bb0u8MZAf" data-list="bullet">
<div>- Ethereum developers confirmed&nbsp;<a rel="nofollow" href="https://www.coindesk.com/tech/2025/02/06/ethereum-s-pectra-upgrade-to-hit-testnets-in-february-and-march">Pectra</a> testnet dates in February and March, potentially leading to a mainnet upgrade in April.</div>
</li>
<li class="ace-line ace-line old-record-id-U6xBdJcMTofp1ax4HnjuwdxSsdc" data-list="bullet">
<div>- Bittensor is expected to launch the highly anticipated dTAO upgrade on February 10.</div>
</li>
<li class="ace-line ace-line old-record-id-KjDTdIkoGoSz3Mxt2gHuLPxTsfg" data-list="bullet">
<div>- FTX creditors with claims less than $50,000 are expected to receive&nbsp;<a rel="nofollow" href="https://x.com/sunil_trades/status/1888127969681461662">repayment</a> on February 18.</div>
</li>
<li class="ace-line ace-line old-record-id-XOQhd1ZXIo14CCxhKYmuewaasce" data-list="bullet">
<div>- The SEC has delayed the decision on Ethereum ETF options trading to April 9.</div>
</li>
<li class="ace-line ace-line old-record-id-FkfudOBKKoDKXtxrlg5un9UOsnI" data-list="bullet">
<div>- Uniswap introduced Unichain Validator Network (<a rel="nofollow" href="https://x.com/UniswapFND/status/1886819610336616722">UVN</a>), sharing 65% of revenue to validators and stakers. The UVN will be live on testnet for several months before going live.</div>
</li>
<li class="ace-line ace-line old-record-id-Hodbd510PoC7JKxnOvjuO02Mswf" data-list="bullet">
<div>- Usual passed the proposal to launch the&nbsp;<a rel="nofollow" href="https://v1.snapshot.box/#/usualmoney.eth/proposal/0x1b081d3b3dd611094e96b690dc5d981d86bb724cce5ef562d9eecbe580b535c2">USL module</a>, creating a fixed borrowing cost vault for USD0++ to borrow USD0.</div>
</li>
<li class="ace-line ace-line old-record-id-M36ldBuoDoOo2OxreelupSv1sIb" data-list="bullet">
<div>- Lido announced&nbsp;<a rel="nofollow" href="https://x.com/LidoFinance">v3</a> will be coming soon without much details.</div>
</li>
</ul>
<div class="ace-line ace-line old-record-id-doxusEZkfz4LMX43vi99adLmHgg">&nbsp;</div>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus2WvzVZf0DT0yTyypeeGOJg">
<div>
<h3 class="heading-3"><strong>Token Unlock</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-HU0FdVhVyooAKfxDctIuuq8HsLa" data-list="bullet">
<div>- IO token unlocked on February 11, amount representing 2.58% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-JyFTd5GR7oytbbxRaKguwCJaseh" data-list="bullet">
<div>- APT token unlocked on February 12, amount representing 1.98% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-TPaDdGv9NoVyxjxXXxpuk8xvsgd" data-list="bullet">
<div>- SAND token unlocked on February 14, amount representing 8.41% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-LiAadsYPboDBL9xzDjiuMIgEsYf" data-list="bullet">
<div>- STRK token unlocked on February 15, amount representing 2.45% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-RBF0dxeEroFGqgx2JXUuCYHdswc" data-list="bullet">
<div>- ARB token unlocked on February 16, amount representing 2.13% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-DXB9dqsQIoQXobxBGrruj28rsRf" data-list="bullet">
<div>- APE token unlocked on February 17, amount representing 2.12% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-NaLsdxw7lo3EZfxZ0NVu5ters4d" data-list="bullet">
<div>- MELANIA token unlocked on February 20, amount representing 23.3% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-YIOrd2Ap6o1ugJxJi5gutyRHsLo" data-list="bullet">
<div>- IMX token unlocked on February 21, amount representing 1.41% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-YjmDdPaW1oMxPWxPOqluIn8ssmb" data-list="bullet">
<div>- PLUME token unlocked on February 21, amount representing 5.32% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-C4dJdfzMSo2FEcxLcNrueTHosjf" data-list="bullet">
<div>- ALT token unlocked on February 25, amount representing 9.47% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-SlUYdj6HMoPwvZxCTAvu3r9msug" data-list="bullet">
<div>- OP token unlocked on February 28, amount representing 2.39% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-NsfFdrlCIoOT7sxGKg5ulPgJs0g" data-list="bullet">
<div>- GRASS token unlocked on February 28, amount representing 1.52% of the token supply.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusc8sktAsqDiZKHqvkXPeOSe">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusmgpdv8Nn5u6vjEc4rIl6ng">Please click <a rel="nofollow" href="https://chainupgroup.larksuite.com/share/base/form/shruso3ZBWdvpzRlCT4jwnicgrb">HERE</a> to subscribe for weekly market insight and exclusive research.</div>
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Headline News



- Despite Trump halting tariffs on Mexico, Canada and low-cost packages from China, the market staye

Weekly Market Insight: February Week 2

<div data-page-id="ZKaNdtz4po0pjFxFy1tunEaIs4c" data-lark-html-role="root" data-docx-has-block-data="false">
<div class="ace-line ace-line old-record-id-doxusit0kGSy283wG97nBIodJws">
<div>
<h2 class="heading-2"><strong>Headline News</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-BuBldvtYhoo06xxExzVux4dMssb" data-list="bullet">
<div>- Bitcoin and the broader crypto market experienced a massive sell-off alongside the US stock market. Bitcoin's price declined by 4.8% last week, driven by macro factors such as the impact of the DeepSeek R1 model and Trump's announcement of a 25% tariff on Canada and Mexico, a 10% tariff on China, and a commitment to implementing additional tariff measures on EU countries.</div>
</li>
<li class="ace-line ace-line old-record-id-WrNodm8N1oTeZZxdkBfuAA9Gsjf" data-list="bullet">
<div>- Bitcoin's price plummeted another 3.8% on Monday, triggering over $2 billion in liquidations. The Crypto Fear and Greed Index dropped to its lowest level since October 2024.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusUgU5TeQMQGZ1YsXc9hkzMb">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxus213cVNTXDyhvpLAem0ou5b">
<div>
<h2 class="heading-2"><strong>Macro-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-X8eddQhgHoppMUxjhdHuEcVbsIH" data-list="bullet">
<div>- Jerome Powell announced that interest rates will remain unchanged, expressing concern over elevated inflation. The market currently estimates a 63% probability of a 25bps rate cut in June.</div>
</li>
<li class="ace-line ace-line old-record-id-L7n6ds7lMoZN0Bxe32gudBEnsQc" data-list="bullet">
<div>- The ECB cut the deposit facility rate by 25bps to 2.75%, in line with market expectations.</div>
</li>
<li class="ace-line ace-line old-record-id-CiABdWNr3owGQjxJHWeuoZHBsve" data-list="bullet">
<div>- The US advanced GDP reading declined to 2.3% in Q4 2024, the slowest growth in three quarters, down from 3.1% in Q3 and below forecasts of 2.6%. Durable goods orders fell by 2.2% in December, significantly missing market expectations of a 0.6% increase.</div>
</li>
<li class="ace-line ace-line old-record-id-PabqdnY1uoitNTxbkNyuAZcestg" data-list="bullet">
<div>- The U.S. core PCE annual rate for December came in at 2.8%, matching both expectations and the previous reading. Personal income in December increased by 0.4%, in line with market expectations, while personal spending rose by 0.7%, surpassing the forecast of 0.5%.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus4DCFnzIOUlbNoaCg9VeI1b">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusrpfHYnBcV6j8B9S00NCm1f">
<div>
<h4 class="heading-4"><strong>Upcoming Economic Calendar including,</strong></h4>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxussXuEYv3r38853PsRlnvD9g" data-list="bullet">
<div>- Monday, February 3, 11:00pm: The U.S. Manufacturing PMI in January</div>
</li>
<li class="ace-line ace-line old-record-id-ZnDXdXVDRoTNr3xY17buscjLsfd" data-list="bullet">
<div>- Tuesday, February 4, 11:00pm: The JOLTs Job Openings in December</div>
</li>
<li class="ace-line ace-line old-record-id-DnhYdVtoxoxUbMxsqlNuMSR4sIg" data-list="bullet">
<div>- Wednesday, February 5, 11:00pm: The U.S. Services PMI in January</div>
</li>
<li class="ace-line ace-line old-record-id-RcNid0WpToCptGxbVlYuV7K6sSc" data-list="bullet">
<div>- Friday, February 7, 9:30pm: The U.S. Non-Farm Payroll and Unemployment Rate in January</div>
</li>
<li class="ace-line ace-line old-record-id-PYPedA15goKiDWxhNJeuXFm8ssf" data-list="bullet">
<div>- Friday, February 7, 11:00pm: Michigan Consumer Sentiment in February</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusaRCoLXNSW4iqFjWXAMypud">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusAAoDynsFvTjP6fGTdarP6g">
<div>
<h2 class="heading-2"><strong>Weekly-Cryptos-Overview</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusL0cY2G3wHzhubcQRw257qd" data-list="bullet">
<div>- Two MicroStrategy of Ethereum have been introduced, both shared the same name as ETH Strategy. One is led by&nbsp;<a rel="nofollow" href="https://x.com/josephdelong/status/1883200366042599484">Joseph and Justin</a>, while another one is led by <a rel="nofollow" href="https://x.com/eth_strategy/status/1883092589622223023">Clouted</a>.</div>
</li>
<li class="ace-line ace-line old-record-id-VefGdYhuRoF7nQx9OQTuI1Mhsjd" data-list="bullet">
<div>- MicroStrategy Chair, Michael Saylor, has raised&nbsp;<a rel="nofollow" href="https://www.microstrategy.com/press/microstrategy-announces-pricing-of-strike-preferred-stock-offering-strk_01-31-2025">$563.4 million</a> via new series A perpetual strike preferred stock (<a rel="nofollow" href="https://www.microstrategy.com/press/microstrategy-announces-pricing-of-strike-preferred-stock-offering-strk_01-31-2025">STRK</a>) which aims to be listed on NASDAQ, and will conditionally convert into more shares of MSTR.</div>
</li>
<li class="ace-line ace-line old-record-id-D0Fvd4M10obGXTxXn0Nuw2yAsvd" data-list="bullet">
<div>- The&nbsp;<a rel="nofollow" href="https://x.com/CNB_cz/status/1884964941657993562">Czech National Bank </a>approved a proposal to analyse the options for investing in additional asset classes such as crypto asset.</div>
</li>
<li class="ace-line ace-line old-record-id-DN8SdTKAVoLBCEx2RIAumsytsRd" data-list="bullet">
<div>- Trump Media Group introduced new financial services and FinTech brand,&nbsp;<a rel="nofollow" href="https://www.globenewswire.com/news-release/2025/01/29/3017197/0/en/Trump-Media-Announces-Expansion-into-Financial-Services.html">TruthFi</a>, investing $250 million in SMAs, ETFs, Bitcoin and crypto-related securities, with plans to enter the decentralized finance sector.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxuso1LOyq8xjjXO2JrOw0EPdf">
<div>
<div>&nbsp;</div>
<div>
<h3 class="heading-3 ace-line old-record-id-doxusqVnbmLIIzOO4nZxsTMgZ0d">&nbsp;&nbsp;<strong>Layer 1 and Layer 2s</strong></h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusarSsCKW4DmSfXOnBx9r0uC" data-list="bullet">
<div>- Abstract Chain launched its&nbsp;<a rel="nofollow" href="https://x.com/AbstractChain/status/1883939915169423777">mainnet</a>, introducing seamless onboarding with web2 credentials, Abstract portal for interacting with protocol ecosystem and earns XP.</div>
</li>
<li class="ace-line ace-line old-record-id-ORIDdl2rLogQ93xkzxqusPwsslg" data-list="bullet">
<div>- Movement has launched its developer&nbsp;<a rel="nofollow" href="https://x.com/movementfdn/status/1884270468586508535">mainnet</a>, offering permissionless app deployment. Movement is reportedly in discussion with the Department of Government Efficiency (<a rel="nofollow" href="https://x.com/tier10k/status/1884252132540571895">DOGE</a>) as the blockchain solution for the department. World Liberty Finance (WLFI) has acquired approximately 2.4 million MOVE.</div>
</li>
<li class="ace-line ace-line old-record-id-OvpAdFmxRoEqX5xYZrxuQTUXsxe" data-list="bullet">
<div>- Cardano has completed&nbsp;<a rel="nofollow" href="https://x.com/Cardano_CF/status/1884725463190315233">Plomin</a> Hard Fork, enabling Delegate Representatives (dReps) which represent ADA holders to vote on treasury measures and hard forks.</div>
</li>
<li class="ace-line ace-line old-record-id-VYyYdHTQfoVs9fxZ0Huuvw8UsJe" data-list="bullet">
<div>- UBS Bank has tested its UBS Key4 Gold product on&nbsp;<a rel="nofollow" href="https://x.com/zksync/status/1885329177446133998">ZKSync</a>, allowing its Swiss customers to directly purchase physical gold.</div>
</li>
<li class="ace-line ace-line old-record-id-ZPcsd0Pc1on4pdxcrAnuFbresAb" data-list="bullet">
<div>- Mantle introduced Enhanced Index Fund which provides seamless exposure to crypto beta,&nbsp;<a rel="nofollow" href="https://x.com/Mantle_Official/status/1882017058680086805">Mantle Banking</a> which provides seamless payment, lending and wealth management, and Mantle X which deploys and manages AI agents tailored for the broad universe of Mantle.</div>
</li>
<li class="ace-line ace-line old-record-id-WSYFdiRfooimiVxdU95uLuL6sSc" data-list="bullet">
<div>- Mode launched&nbsp;<a rel="nofollow" href="https://www.theblock.co/post/337156/mode-launches-synth-subnet-on-bittensor-to-build-decentralized-ai-that-predicts-crypto-prices">Synth</a> subnet on Bittensor, incentivising miners to develop price forecasting model for AI Agent.</div>
</li>
<li class="ace-line ace-line old-record-id-Sye3dlsAKoirb1xffKOukGazsCe" data-list="bullet">
<div>- Initia introduced&nbsp;<a rel="nofollow" href="https://x.com/tansawit/status/1882612567929131357">Weave</a>, providing users with a CLI that offers the same simple and hassle-free deployment experience as RaaS while empowering them with the customizability and control of a local deployment.</div>
</li>
<li class="ace-line ace-line old-record-id-UmZVdEVRXoT3FfxdBZEuMFNKs7d" data-list="bullet">
<div>- Sei Foundation launched a&nbsp;<a rel="nofollow" href="https://www.theblock.co/post/337808/sei-foundation-desci-venture-fund-sapien-capital">$65 million</a> venture fund to back DeSci protocols on its network.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-BrkWdaNPKoLk9txfpapuRWlOsJg">
<div>
<div>&nbsp;</div>
<div>
<h3 class="heading-3 ace-line old-record-id-doxuscxF7sj6eeKVQOWyGrll4Gf">&nbsp;&nbsp;Dapps</h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxuskM2y4ASNcP5G3gYqnUQ7Vg" data-list="bullet">
<div>- Uniswap&nbsp;<a rel="nofollow" href="https://x.com/Uniswap/status/1885329579495080248">V4</a> is now live across 10 different networks, featuring hooks contracts that allow anyone to customize how pools, swaps, fees, and LP positions interact.</div>
</li>
<li class="ace-line ace-line old-record-id-M211dkqEMo38zExpD7uukKMps3c" data-list="bullet">
<div>- Virtuals announced expansion to&nbsp;<a rel="nofollow" href="https://x.com/virtuals_io/status/1883107553183162507">Solana</a> and commits using 1% of trading fees to buy SOL for creating a Strategic SOL Reserve to support and reward agents and creators. Virtuals also announced its <a rel="nofollow" href="https://x.com/virtuals_io/status/1884938359573000665">Nation Fiscal Policy</a> which includes support from pre-launch, post-launch but pre-sentience, post-sentience and post-launch fundraising. The policy aims to support good AI agents with funding, liquidity and publicity.</div>
</li>
<li class="ace-line ace-line old-record-id-NSkgd9OsaoD1j9x693AuWSPhs8d" data-list="bullet">
<div>- Maple Finance introduced the "<a rel="nofollow" href="https://x.com/maplefinance/status/1882095312279601485">Lend + Long</a>" vault, enabling users to earn 4% floor APY and variable yield based on BTC price action. The excess yield generated from loans is used to buy BTC call option.</div>
</li>
<li class="ace-line ace-line old-record-id-OA5td9wLyo3DISxk9tCuFKYdsyg" data-list="bullet">
<div>- Symbiotic launched its&nbsp;<a rel="nofollow" href="https://x.com/symbioticfi/status/1884266642416492713">mainnet</a>, more than 13 protocols have already onboarded the shared security mechanism.</div>
</li>
<li class="ace-line ace-line old-record-id-IEgMdD519oFpTtxEZbquBZOysEb" data-list="bullet">
<div>- Karak, another restaking protocol, announced details of its&nbsp;<a rel="nofollow" href="https://blog.karak.network/unveiling-kar/">KAR</a> token. The token will facilitate the Karak Network Stack (KNS) and cross-boarder transfers between Layer-1 within Karak ecosystem. KNS will be the primary focus on Karak's 2025 <a rel="nofollow" href="https://blog.karak.network/roadmap-2025/">roadmap</a>, which provides flexible toolkit to spin up specialized Layer 1 blockchains for anyone.</div>
</li>
<li class="ace-line ace-line old-record-id-OPlcdWE1mouOMbxO7ycuPc4Wsbc" data-list="bullet">
<div>- Injective upgraded its&nbsp;<a rel="nofollow" href="https://x.com/injective/status/1884618249616146621">EVM</a> compatibility into the core architecture, increasing the max throughput by 13x, atomic transactions and introducing plug-and-play modules for easy deployment.</div>
</li>
<li class="ace-line ace-line old-record-id-HnpjdgSjvobDRSxBMVruXLjssuf" data-list="bullet">
<div>- Jito has launched its&nbsp;<a rel="nofollow" href="https://x.com/jito_sol/status/1884995151455568107">TipRouter</a> on the mainnet. It will take a 3% fee from tips and split to 2.7% to Jito DAO Treasury, 0.15% to JitoSOL vault stakers and 0.15% to JTO vault stakers</div>
</li>
<li class="ace-line ace-line old-record-id-LTMidQH2votIZGxUPSCubh7assg" data-list="bullet">
<div>- ElizaOS launched&nbsp;<a rel="nofollow" href="https://t.co/1bk7cs1TBM">v0.1.9</a>, featuring Instagram client, Discord and Telegram autonomous agent enhancements, NVIDIA inference, Livepeer LLMs and more. The team also announced ai16z will build single-sided <a rel="nofollow" href="https://x.com/shawmakesmagic/status/1883646407803895976">LP positions</a> using the agent tokens in the portfolio to generate additional yield.</div>
</li>
<li class="ace-line ace-line old-record-id-Uj9Udl9vOoo29OxwYn0u90fisGg" data-list="bullet">
<div>- LRT&sup2; has rebranded to&nbsp;<a rel="nofollow" href="https://x.com/thekingprotocol/status/1884311012091826438">King Protocol</a>, a basket of yield reward generated via restaking.</div>
</li>
<li class="ace-line ace-line old-record-id-PbEcdkwCaoFYUNxCTJFuIeSzskq" data-list="bullet">
<div>- Phala Network partnered with NEAR to develop&nbsp;<a rel="nofollow" href="https://x.com/PhalaNetwork/status/1883935788754186527">Private ML SDK</a>, an open-source solution for secure and verifiable LLM.</div>
</li>
<li class="ace-line ace-line old-record-id-LqmTdB8n8okhBuxLuIpuHhdks7d" data-list="bullet">
<div>- Nous Research announced&nbsp;<a rel="nofollow" href="https://nousresearch.com/nous-psyche/">Psyche</a>, a decentralised network designed to train AI models.</div>
</li>
<li class="ace-line ace-line old-record-id-JU0cdw09YoAEmXxyZlxuxLaespc" data-list="bullet">
<div>- Aethir partnered with MAITRIX to launch&nbsp;<a rel="nofollow" href="https://x.com/AethirEco/status/1883892786266886315">AUSD</a>, an overcollaterised stablecoin backed by ATH, designed to facilitate predictable rewards for GPU Cloud Hosts.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusb4hBb0T0gGrSV4zrnmn2Kb">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusp8GtTaxIKz5iHSqxximmpe">
<div>
<h2 class="heading-2"><strong>Upcoming Alpha and Governance</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-RvF5deX9AohRK5x1H8vuWLTPsGg" data-list="bullet">
<div>- Berachain is expected to launch its mainnet very soon.</div>
</li>
<li class="ace-line ace-line old-record-id-doxusos8VYWHfZq4ZaLsp6icR7c" data-list="bullet">
<div>- Jupiter is expected to start the JUP buyback mechanism using 50% of the protocol fees this week.</div>
</li>
<li class="ace-line ace-line old-record-id-TRO7dABtEoPhbrxmHUJusAxusEd" data-list="bullet">
<div>- Ondo is holding the Ondo Summit on February 6 in New York City. The team is expected to make some major reveals during the event.</div>
</li>
<li class="ace-line ace-line old-record-id-SZG0dxpCsoFXoMxNpFDuE4dLsIb" data-list="bullet">
<div>- The DeFAI project, Hey Anon, is expected to go live on Febraury 7.</div>
</li>
<li class="ace-line ace-line old-record-id-CoQ2dzDhhoSpexxojmKuDEF4sIb" data-list="bullet">
<div>- Pudgy Penguins teased collaboration with Line Friends.</div>
</li>
<li class="ace-line ace-line old-record-id-Nj3Wdy8AXoetZnxbdd4uP1hWsdg" data-list="bullet">
<div>- Near announced&nbsp;<a rel="nofollow" href="https://pages.near.org/blog/advancing-chain-signatures-whats-next/">Chain Signiture Roadmap</a>, aiming to increase throughput by 30x and reduce latency by 50%. The team also aims to integrate TEE for the MPC network, support Solana and TON signature schemes, and read data from other chains.</div>
</li>
<li class="ace-line ace-line old-record-id-Lierd0DvAoFLfAxZBLkuFz6qsOe" data-list="bullet">
<div>- TON Network shared its&nbsp;<a rel="nofollow" href="https://telegra.ph/TON-Core-Roadmap-2025-H1-01-22">2025 H1 roadmap</a> which included Accelerator upgrade, increasing network throughput and stability during peak loads.</div>
</li>
</ul>
<div class="ace-line ace-line old-record-id-doxusnCgzfFR1ISJvzHlEnKJeve">&nbsp;</div>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusqOJdeEmW77ssciGmM1VmmQ">
<div>
<h3 class="heading-3"><strong>Token Unlock</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-QMkldxSJjoGX1ZxZfr8ul8NlsGY" data-list="bullet">
<div>- JTO token unlocked on February 7th, amount representing 3.97% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-QDGPdwmywo7FToxT3L7udNFgsUd" data-list="bullet">
<div>- MOVE token unlocked on February 9th, amount representing 2.17% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-HRyzd1oS0oyfdvxRxt3uE9D2s1c" data-list="bullet">
<div>- IO token unlocked on February 11th, amount representing 2.58% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-MB0FdYeq7oKPnQxjkzSuG9Nusbd" data-list="bullet">
<div>- APT token unlocked on February 12th, amount representing 1.98% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-PmwjdkN9poGaFfxGVZtuVYxysOf" data-list="bullet">
<div>- SAND token unlocked on February 14th, amount representing 8.41% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-YSetdRGWpoAEy6xrJExuSCXOshh" data-list="bullet">
<div>- STRK token unlocked on February 15th, amount representing 2.45% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-I378deIFQoSmJMxhSuoumwfIsD9" data-list="bullet">
<div>- ARB token unlocked on February 16th, amount representing 2.13% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-YDavdAI0joz4kVxOTTaurvSVsyc" data-list="bullet">
<div>- APE token unlocked on February 17th, amount representing 2.12% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-RejSdkJ1goQQzaxTVySuRR2GsPc" data-list="bullet">
<div>- MELANIA token unlocked on February 20th, amount representing 23.3% of the token supply.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusoyvax12B0ckMMCzhRYAGFY">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusMGOs5fXxeMEmTyW8V9FEyp">Please click <a rel="nofollow" href="https://chainupgroup.larksuite.com/share/base/form/shruso3ZBWdvpzRlCT4jwnicgrb">HERE</a> to subscribe for weekly market insight and exclusive research.</div>
</div>




Headline News



- Bitcoin and the broader crypto market experienced a massive sell-off alongside the US stock market

Weekly Market Insight: February Week 1

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<div class="ace-line ace-line old-record-id-doxusyD5p7D1EUjJ0Tv9RAww9Gb">
<div>
<h2 class="heading-2"><strong>Headline News</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-MiV8d3LB2oWtK7xAgCpu90bfsXD" data-list="bullet">
<div>- After Donald Trump&rsquo;s inauguration, he pardoned Ross Ulbricht, the founder of the Silk Road website, who had spent over 11 years in prison. Trump also signed an executive order to establish regulations for the crypto industry, including exploring the potential for a national digital asset stockpile. The newly appointed SEC acting chair, Mark Uyeda, has formed a task force to develop a clear regulatory framework for the crypto industry. Meanwhile, Senator Cynthia announced she will chair the Senate Banking Subcommittee on Digital Assets. Eric Trump has reportedly confirmed that U.S.-based crypto projects will benefit from a zero capital gains tax. Additionally, Elon Musk is said to be exploring blockchain solutions within the Department of Government Efficiency (DOGE).</div>
</li>
<li class="ace-line ace-line old-record-id-DtT5d6HppoLo2qxVLiHumpbDsvc" data-list="bullet">
<div>- Institutional interest in crypto has reached unprecedented levels. BlackRock CEO Larry Fink has urged the SEC to approve the tokenization of bonds and stocks. The stablecoin market cap increased by approximately $5.7 billion last week, marking the largest weekly growth since November 2024.</div>
</li>
<li class="ace-line ace-line old-record-id-EE11dvR3Woo14KxaoSYue0uYsVd" data-list="bullet">
<div>- Bitcoin's price increased by approximately 3.8% last week, reaching a new all-time high of $109,400 before quickly retracing.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusls8cTzDKOuEUt1iZiZeb9d">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusP8gSNWNR27mmuG5wpCUYbf">
<div>
<h2 class="heading-2"><strong>Macro-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusg2DMJY59puzVRMMGeOZg8m" data-list="bullet">
<div>- The BoJ increased the interest rate by 25bps, in line with market consensus.</div>
</li>
<li class="ace-line ace-line old-record-id-U0NGdJDTdoLBcKx4PyXuBuWjsWb" data-list="bullet">
<div>- The market's direction this week will hinge on key factors, including the anticipated FOMC meeting and earnings reports from major companies such as Microsoft, Tesla, and Apple. Additionally, political statements from President Trump may also influence market sentiment.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxuswzV9OiakeInPlF1WWQ7fte">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxus5BRgTaO8vM1NIdhLSQmZUx">
<div>
<h4 class="heading-4"><strong>Upcoming Economic Calendar including,</strong></h4>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusnJJuMlylGzNPuaVk5xG2Te" data-list="bullet">
<div>- Tuesday, January 28, 9:30pm: The U.S. Durable Goods Orders in December</div>
</li>
<li class="ace-line ace-line old-record-id-GiMhdZAcYoAT7TxJQWnuVLoNszc" data-list="bullet">
<div>- Thursday, January 30, 3:00am: The FOMC meeting</div>
</li>
<li class="ace-line ace-line old-record-id-OA6NdHxavoa1YYxhoVKuzx0wswe" data-list="bullet">
<div>- Thursday, January 30, 9:30pm: The U.S. Q4 Advance GDP</div>
</li>
<li class="ace-line ace-line old-record-id-F299dXQE7otsWvxp5Oeu916Lsge" data-list="bullet">
<div>- Friday, January 31, 9:30pm: The U.S. Core PCE, Personal Income and Personal Spending in December</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus8eLg6kH51DsqWhDZ5x64of">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusyCxOAMFIAvbpSz3uI7HRtf">
<div>
<h2 class="heading-2"><strong>Weekly-Cryptos-Overview</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-AAsEdgUOfoC2LnxgNq6uC7o3sjf" data-list="bullet">
<div>- The SEC has rescinded&nbsp;<a rel="nofollow" href="https://x.com/HesterPeirce/status/1882562977985114185">SAB 121</a>, which requires banks to treat digital assets as liability in their balance sheet. The repeal of SAB 121 potentially leads to an increasing number of banks providing digital asset services.</div>
</li>
<li class="ace-line ace-line old-record-id-Pg5BdsSbZoFfBvxRglUuVmJmsmc" data-list="bullet">
<div>- The U.S. Court lifted the&nbsp;<a rel="nofollow" href="https://www.ca5.uscourts.gov/opinions/pub/23/23-50669-CV0.pdf">OFAC sanction</a> against Tornado Cash.</div>
</li>
<li class="ace-line ace-line old-record-id-doxusrV8ZWI1EF5X9bvbPNkFpkd" data-list="bullet">
<div>- REX Advisers has filed TRUMP, ETH, BTC, SOL, XRP, BONK and DOGE&nbsp;<a rel="nofollow" href="https://www.sec.gov/Archives/edgar/data/1771146/000199937125000494/rexosprey-485apos_012125.htm">ETF</a> with the SEC.</div>
</li>
<li class="ace-line ace-line old-record-id-UAGCd5RP6ow9nJxt9M4uhg3Rswb" data-list="bullet">
<div>- Microstrategy shareholders voted to&nbsp;<a rel="nofollow" href="https://www.theblock.co/post/336102/microstrategy-votes-to-increase-number-of-shares-fuel-bitcoin-purchases">increase shares</a> to purchase more Bitcoin.</div>
</li>
<li class="ace-line ace-line old-record-id-ThQ9dirTTotP7LxUq2muWlhMsGh" data-list="bullet">
<div>- Circle announced acquisition of&nbsp;<a rel="nofollow" href="https://www.coindesk.com/business/2025/01/21/circle-enters-tokenization-race-by-acquiring-hashnote-usd1-3b-real-world-asset-issuer">Hashnote</a>, the issuer of the $1.3 billion tokenised money market fund. Circle also introduced <a rel="nofollow" href="https://www.circle.com/blog/introducing-circle-paymaster">Paymaster</a>, enabling users to pay for gas with USDC on Arbitrum and Base.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus3nlFT9WMt7XzI5fnDoSJGf">
<div>
<div>&nbsp;</div>
<div>
<h3 class="heading-3 ace-line old-record-id-doxusu3hlWmL220bFjsBXjhMMXe">&nbsp;&nbsp;<strong>Layer 1 and Layer 2s</strong></h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-YJibdDEKfohNYDxdWxguUFjfsog" data-list="bullet">
<div>- Avalanche announced a partnership with Aethir, launching a $100 million ecosystem fund to support&nbsp;<a rel="nofollow" href="https://x.com/AvalancheFDN/status/1881688545183907892">infraBUIDL(AI)</a> projects within the Avalanche ecosystem.Avalanche has been widely speculated to be the ideal network for DOGE, with its founder, Emin G&uuml;n Sirer, serving on the CFTC's Technology Advisory Committee, further supporting this possibility.</div>
</li>
<li class="ace-line ace-line old-record-id-doxus6PXsMYH8awirwNBWjbh8h3" data-list="bullet">
<div>- Atoma announced a $100,000&nbsp;<a rel="nofollow" href="https://x.com/Atoma_Network/status/1881748644065612147">Sui Agent Typhoon Hackathon</a> in collaboration with Sui and ElizaOS.</div>
</li>
<li class="ace-line ace-line old-record-id-HwaMdfnPkoI8gixlaWQuBkgusYd" data-list="bullet">
<div>- Sonic announced a $250,000&nbsp;<a rel="nofollow" href="https://x.com/SonicLabs/status/1881713141257842714">DeFAI Hackathon</a> in partner with HeyAnon, DoraHacks and Zerebro.</div>
</li>
<li class="ace-line ace-line old-record-id-We9AdCWeaorxXxxnRptubjLysNg" data-list="bullet">
<div>- TON Network announced TON's&nbsp;<a rel="nofollow" href="https://venturebeat.com/games/ton-becomes-the-exclusive-blockchain-for-telegrams-mini-app-platform/">wallet connect</a> as the exclusive wallet link for Telegram mini-app platform to blockchain wallets.</div>
</li>
<li class="ace-line ace-line old-record-id-Or0Nd16m4o3TB9x6LK9u3JiUs9g" data-list="bullet">
<div>- Blast introduced&nbsp;<a rel="nofollow" href="https://x.com/blast/status/1882573417347723382">Blast mobile</a> and incentivising users with 50% APY on USD for BLAST holders.</div>
</li>
<li class="ace-line ace-line old-record-id-Ytaydz9H5oJVtsxOGPGuaqE0s9g" data-list="bullet">
<div>- Chintai announced expansion to the&nbsp;<a rel="nofollow" href="https://x.com/GunnisonCap/status/1882069474309730584">U.S. market </a>and pursuing securities licensing from regulators.</div>
</li>
<li class="ace-line ace-line old-record-id-doxus9nWq1jcMXP8YlHVAnOdF6g" data-list="bullet">
<div>- Particle Network launched&nbsp;<a rel="nofollow" href="https://blog.particle.network/universalx-v2/">UniversalX V2</a>, a chain-agnostic trading platform.</div>
</li>
</ul>
<div class="ace-line ace-line old-record-id-doxusbP4M7NpeJwgYInJIVdCETg">&nbsp;</div>
<h3 class="heading-3 ace-line old-record-id-doxusnHEaeyNNgTCEkfaMx6cMcb">&nbsp;&nbsp;Dapps</h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-GLGXdkjv4o0ONyxVxNIusqSvsab" data-list="bullet">
<div>- World Liberty Financial (WLFI) announced a strategic purchase of WBTC, ETH, AAVE, LINK, TRX and ENA. The team later staked approximately 19,400 ETH into Lido.</div>
</li>
<li class="ace-line ace-line old-record-id-VPukdRxL4oCAzfxAbJHuLguUssg" data-list="bullet">
<div>- Jupiter announced 50% of the protocol fees will go towards JUP&nbsp;<a rel="nofollow" href="https://x.com/JupiterExchange/status/1883490117463265318">buyback</a>. Jupiter introduced <a rel="nofollow" href="https://meow.bio/jupnet">Jupnet</a>, an omnichain network that aims to aggregate all crypto into one single decentralized ledger beyond Solana. Jupiter also acquired a majority stake in the trending <a rel="nofollow" href="https://x.com/weremeow/status/1883068425737556153">Moonshot</a>, as well as <a rel="nofollow" href="https://x.com/JupiterExchange/status/1883080862981599490">Sonar Watch</a>. Jupiter also introduced <a rel="nofollow" href="https://x.com/JupiterExchange/status/1883073626502787514">Spot V2</a>, enabling Ultra Mode where users are able to view real time slippage estimation, dynamic priority fees, optimised transaction landing and more. The team announced the burn of 3 billion JUP, following the proposal to burn 30% of the JUP supply, which was approved in August.</div>
</li>
<li class="ace-line ace-line old-record-id-IUnOdQcAkoe71yx8WSyu94w7sMd" data-list="bullet">
<div>- Virtuals announced its expansion to&nbsp;<a rel="nofollow" href="https://x.com/virtuals_io/status/1883107553183162507">Solana</a> network. 1% of the trading fees will be converted to SOL as Strategic SOL Reserve.</div>
</li>
<li class="ace-line ace-line old-record-id-TF6bdPNJqol75SxVI2fuQLn7syh" data-list="bullet">
<div>- Truth Terminal (TT) creator, Andy announced the&nbsp;<a rel="nofollow" href="https://x.com/AndyAyrey/status/1882318084415090857">foundation</a> has established to give TT autonomy and sold approximately 75% of its FARTCOIN holding to GOAT, and intended to holding indefinitely.</div>
</li>
<li class="ace-line ace-line old-record-id-NWbMdl8MWoRX62xIuidu7tTmslM" data-list="bullet">
<div>- Dracula Labs introduced&nbsp;<a rel="nofollow" href="https://x.com/dracula_labs/status/1883393340135317923">DRACULA</a>, a TypeScript framework for distributed AI agents with cryptographic consensus, rule-based logic, and collaborative swarms.</div>
</li>
<li class="ace-line ace-line old-record-id-N7EydcsnJoOLwkx58fvu6M7asFb" data-list="bullet">
<div>- REI Network announced a partnership with&nbsp;<a rel="nofollow" href="https://x.com/ReiNetwork0x/status/1883211131889819879">Arkham</a> for providing onchain insight to its agent and better pattern recognition training.</div>
</li>
<li class="ace-line ace-line old-record-id-ThG9dHn7voGYxHxnHYauMueMs9f" data-list="bullet">
<div>- Kaito introduced&nbsp;<a rel="nofollow" href="https://x.com/_kaitoai/status/1882074567365341228">Yapper Launchpad</a>, empowering Yaps point holders, influencers with smart followers and its genesis NFT holders to vote on protocols to be selected for Yapper Leaderboard. KOLs will be able to earn Yaps points for gaining mindshare on the respective protocols.</div>
</li>
<li class="ace-line ace-line old-record-id-FoLDddayeozjZOxrsebu1oA1sze" data-list="bullet">
<div>- INFINIT launched&nbsp;<a rel="nofollow" href="https://x.com/Infinit_Labs/status/1881703397885354288">INFINIT Terminal</a>, a DeFAI agent that allows users to swap, lend and engage in yield trading.</div>
</li>
<li class="ace-line ace-line old-record-id-OOuedCLryog5vCxbKp2uLXRjsWq" data-list="bullet">
<div>- Thorchain announced the protocol is&nbsp;<a rel="nofollow" href="https://x.com/1984_is_today/status/1882616341926162653">insolvent</a> if there is a large debt redemption from the ThorFi Saver and Lending program.</div>
</li>
<li class="ace-line ace-line old-record-id-Mkc3dJq49oCh0SxIWwQuasOIs9e" data-list="bullet">
<div>- Fluid protocol introduced&nbsp;<a rel="nofollow" href="https://x.com/0xfluid/status/1882493362617581795">Multiply</a>, enabling users to create an easy loop position on Fluid.</div>
</li>
<li class="ace-line ace-line old-record-id-KXjSdJc13o4KdLxOAlZubMxmsPb" data-list="bullet">
<div>- Liquity&nbsp;<a rel="nofollow" href="https://x.com/LiquityProtocol/status/1882431900075376882">V2</a> is live on the mainnet, offering customised user-set interest rates and 100% revenue redirect to users.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus3ixImvqUoV07MwLcddPFBd">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxuswrNDyiR06R65xqnrpxL5Qd">
<div>
<h2 class="heading-2"><strong>Upcoming Alpha and Governance</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-N87tdg8EpoqtmOxNJYSu7x9MsxO" data-list="bullet">
<div>- Uniswap&nbsp;<a rel="nofollow" href="https://x.com/Uniswap/status/1881810167429501293">V4</a> is expected to launch this week.</div>
</li>
<li class="ace-line ace-line old-record-id-JHnidssWGoA3RzxBFC8uVgyrsog" data-list="bullet">
<div>- Abstract Chain is expected to launch this week.</div>
</li>
<li class="ace-line ace-line old-record-id-doxuskiCJ79Ch5v8EhwTRLZ2R1e" data-list="bullet">
<div>- CoW DAO passed&nbsp;<a rel="nofollow" href="https://snapshot.box/#/s:cow.eth/proposal/0xbafee087f3a1d5757e44a72fa76e8624ce212623153816a936a8888741485ef5">CIP-61</a>, implementing a finalised revenue-sharing model starting on February 1.</div>
</li>
<li class="ace-line ace-line old-record-id-QvrIdb8HRojDDuxFcBOub2Lzs6g" data-list="bullet">
<div>- Coinbase CEO announced potential integration of&nbsp;<a rel="nofollow" href="https://x.com/brian_armstrong/status/1883329603239899346">DEX</a> support for the customers.</div>
</li>
<li class="ace-line ace-line old-record-id-RY0YdAxoZoJO9fxdch9uEmhZsdd" data-list="bullet">
<div>- ElizaOS founder, Shaw, announced more details on&nbsp;<a rel="nofollow" href="https://x.com/ai16zNEWS/status/1883184985001341015">Eliza</a> V2 which plans to be launched in April 2025. Agent Marketplace, Block Tank (AI version of Shark Tank) and $10 million Magic Fund for developers.</div>
</li>
</ul>
<div class="ace-line ace-line old-record-id-doxusMRJsWFIBNL0a4USjnUUf9d">&nbsp;</div>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusNt8KWcoNSGUHwWCixSRutd">
<div>
<h3 class="heading-3"><strong>Token Unlock</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-PPlkd2RT1o3bP7x2AA4uLx2usQh" data-list="bullet">
<div>- GRASS token unlocked on January 28th, amount representing 1.51% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-Fj2Wd7z4ionmsNxgVZ5ue1IXsGe" data-list="bullet">
<div>- OP token unlocked on January 31st, amount representing 2.38% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-FR7ldtyPEolvzUxXhKMuISSCsff" data-list="bullet">
<div>- SUI token unlocked on February 1st, amount representing 2.66% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-C8dBdMf6HoQ4VzxJsRkuNKx7sWh" data-list="bullet">
<div>- DYDX token unlocked on February 1st, amount representing 2.67% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-QTuOda1EOoDP7qxuPMvutb4CsJb" data-list="bullet">
<div>- JTO token unlocked on February 7th, amount representing 3.97% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-Uq7jdT0fSoekFBxjBz4uyxQMsfc" data-list="bullet">
<div>- MOVE token unlocked on February 9th, amount representing 2.17% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-K5ihdB7ApoVzaqxroqKuCRP8sLs" data-list="bullet">
<div>- IO token unlocked on February 11th, amount representing 2.58% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-MwQvd8Qf2o7EGpxOz1ku6ZXrs5g" data-list="bullet">
<div>- APT token unlocked on February 12th, amount representing 1.98% of the token supply.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus5rKHhBNRocJppw5D6GiJNg">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusZB42FTwod4HBS74HuTsoEd">Please click <a rel="nofollow" href="https://chainupgroup.larksuite.com/share/base/form/shruso3ZBWdvpzRlCT4jwnicgrb">HERE</a> to subscribe for weekly market insight and exclusive research.</div>
</div>




Headline News



- After Donald Trumps inauguration, he pardoned Ross Ulbricht, the founder of the Silk Road website,

Weekly Market Insight: January Week 5

<div data-page-id="VJepdBsqtoF9Osx58FauR5v1sPd" data-lark-html-role="root" data-docx-has-block-data="false">
<div class="ace-line ace-line old-record-id-doxusMlcBmWaWtrBA99lVj24sYc">
<div>
<h2 class="heading-2"><strong>Headline News</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-ETFTdMSAroWEnQx2UoNuuBgysRb" data-list="bullet">
<div>- The U.S. President-elect Donald Trump launched its own TRUMP memecoin on Solana last weekend with 20% allocated to liquidity and public distribution equally, while the remaining 80% is reserved for the team. The FDV of TRUMP coin surged over $75 billion last Sunday and Solana's market cap has increased by 34% in the past week to $130 billion. TRUMP token has quickly been listed across major exchanges, including Binance and Coinbase, and the annualised funding rate in Binance was trading at approximately 100%. The Moonshot app surged to the top 1 among financial apps in the U.S on the AppStore.</div>
</li>
<li class="ace-line ace-line old-record-id-OEPPdEbrLo66uRx9QkhutCt0s6b" data-list="bullet">
<div>- The multi-million fees generated by the LP contract on Meteora DEX have actively swapped for SOL and transferred to CEX, while WLFI has been actively accumulating ETH. Shortly after, first lady Melania Trump also launched her memecoin.</div>
</li>
<li class="ace-line ace-line old-record-id-VyINdEmxVoyPK2x6qsQugZhwskd" data-list="bullet">
<div>- Despite Donald Trump being expected to issue an Executive Crypto Policy Order that addresses the de-banking of crypto-related organisations and repeal of crypto accounting policy that requires banks holding digital assets to count as liability on its balance sheet, the president didn't make mention of Bitcoin or crypto in his inauguration speech.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxustP6gAXcAiHq6h14XTcXsMh">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusik6GXFjFrTDAEKhBazPYSh">
<div>
<h2 class="heading-2"><strong>Macro-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-RH4SdMZjYopG7HxSLBLu1y3gsHb" data-list="bullet">
<div>- The U.S. PPI increased by 0.2% in December, lower than the market expectation of 0.3%.</div>
</li>
<li class="ace-line ace-line old-record-id-NbPTd6NSpoB0t5xciVCueBpfsCc" data-list="bullet">
<div>- The U.S. Core inflation rate increased by 0.2% in December, below from 0.3% in November and slightly below market expectation of 0.3%. Analysts projected the core PCE index in December to rise between 0.16% and 0.19%, which has been seen as positive signs reinforcing expectations of 2 rate cuts in 2025.</div>
</li>
<li class="ace-line ace-line old-record-id-RglidGj51ot6u5xc73huOHhqsec" data-list="bullet">
<div>- The U.S. Retail sales increased by 0.4% in December, well below market expectation of 0.6%.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus9OgLbjgs0MMhTwX5g7u6Qg">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusVUveXLWtr84PzPPLIFeYQg">
<div>
<h4 class="heading-4"><strong>Upcoming Economic Calendar including,</strong></h4>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusGQFff3K4LKCsKXes5d7ZKg" data-list="bullet">
<div>- Friday, January 24, 11:00am: BoJ Interest Rate Decision (25bps hike is expected)</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusXPW25hOheKd09ochGUUqEg">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusigiBOK3nCSlpvwnw3UDwEe">
<div>
<h2 class="heading-2"><strong>Weekly-Cryptos-Overview</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusyURW0Toc2ybkt83GNfZUlh" data-list="bullet">
<div>- Nasdaq has filed&nbsp;<a rel="nofollow" href="https://x.com/Cointelegraph/status/1879988448150311223">Litecoin</a> ETF with the SEC. Bloomberg analyst, Eric Balchunas predicted Litecoin is likely to be the crypto ETF to be approved.</div>
</li>
<li class="ace-line ace-line old-record-id-Sj8BdWMdMo8vEIxBw8SuIPoWssb" data-list="bullet">
<div>- VanEck filed&nbsp;<a rel="nofollow" href="https://www.theblock.co/post/334900/vaneck-files-prospectus-for-onchain-economy-etf">Onchain Economy ETF</a> with the SEC, aiming to invest in crypto-focused companies such as exchanges, crypto payment platforms and mining firms.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusE911l2VPqfOCnV4LvwMT0b">
<div>
<div>&nbsp;</div>
<div>
<h3 class="heading-3 ace-line old-record-id-doxusKMMIMekIaHMriCRMP0COxh">&nbsp;&nbsp;<strong>Layer 1 and Layer 2s</strong></h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-LFwGdPJ4VodXEqx2nsDuZd11sJ5" data-list="bullet">
<div>- Vitalik announced a structural change to&nbsp;<a rel="nofollow" href="https://x.com/VitalikButerin/status/1880635379771904423">Ethereum Foundation leadership</a>, improving technical expertise and communications skills within EF leadership. Vitalik also changed his X profile picture to Milady NFT.</div>
</li>
<li class="ace-line ace-line old-record-id-doxusEnZp6IiEloo0J1mukPrpnh" data-list="bullet">
<div>- Soneium has launched its&nbsp;<a rel="nofollow" href="https://x.com/soneium/status/1878988222866350348">mainnet</a>, focusing on entertainment, gaming, consumer, social, NFT and DeFi development. Shortly after the launch, Soneium blacklisted certain memecoins, citing intellectual property rights violations. The actions led to some backlash, while Vitalik demonstrated his support toward corporate-control L2s.</div>
</li>
<li class="ace-line ace-line old-record-id-EN4ydbwpYoxv9DxcrU5uoX2Rsxc" data-list="bullet">
<div>- Saga introduced&nbsp;<a rel="nofollow" href="https://medium.com/sagaxyz/saga-unites-virtuals-eliza-labs-wayfinder-and-metropolis-to-usher-in-the-future-of-blockchain-e96dcaa39316">Metropolis</a>, enabling AI agents to its own Layer 1 on Saga infrastructure. Metropolis is partnered with Eliza Labs, Virtuals and Wayfinder.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-Ee6kdfIc1o1200xpkJjupD8YsWf">
<div>
<div>&nbsp;</div>
<div>
<h3 class="heading-3 ace-line old-record-id-doxusP7PYzjA80gok78G0QFF76i">&nbsp;&nbsp;Dapps</h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusRtFdDycRUs2ohxynrhnrrh" data-list="bullet">
<div>- The Eliza team has published its&nbsp;<a rel="nofollow" href="https://arxiv.org/pdf/2501.06781">whitepaper</a>, introducing the AI agent modular operating system for developers.</div>
</li>
<li class="ace-line ace-line old-record-id-LA4fdeubJoOrdTxUy8MumwrTsUh" data-list="bullet">
<div>- Virtuals announced a&nbsp;<a rel="nofollow" href="https://x.com/virtuals_io/status/1879474894007927189">buyback-and-burn</a> for agent tokens from the post-bonding taxes using 30-day TWAP. 30% of the revenue will be allocated to the agent deployer wallet.</div>
</li>
<li class="ace-line ace-line old-record-id-NWybdmCnhojg0nxDzdpuO2EbsNq" data-list="bullet">
<div>- Coinbase launched the cbBTC lending vault powered by&nbsp;<a rel="nofollow" href="https://x.com/MorphoLabs/status/1879903267146309805">Morpho</a> on Coinbase exchange, users are able to borrow USDC against their cbBTC holding.</div>
</li>
<li class="ace-line ace-line old-record-id-JWEpdEkiToP6XQxKWjIumPlvsGc" data-list="bullet">
<div>- Tether launched&nbsp;<a rel="nofollow" href="https://x.com/USDT0_to/status/1879921612838805583">USDT0</a>, an OFT standard token powered by Layer Zero, which enables the stablecoin cross-chain across major blockchain with low fees.</div>
</li>
<li class="ace-line ace-line old-record-id-A2BKdOmuVoO6dnxfpjNuFAg9s3d" data-list="bullet">
<div>- Ethena USDe and sUSDe are approved to be integrated into&nbsp;<a rel="nofollow" href="https://mirror.xyz/0xF99d0E4E3435cc9C9868D1C6274DfaB3e2721341/LjBAybIk6-waSxwOBWp5mg_37jNvrWF_UdzqqXoEl6U">Spark</a>'s Liquidity Layer, enabling Spark to access Ethena rewards directly rather than via the lending market.</div>
</li>
<li class="ace-line ace-line old-record-id-LRthdNr6IoToVsxakk5u05TssKd" data-list="bullet">
<div>- Liquity introduced&nbsp;<a rel="nofollow" href="https://x.com/LiquityProtocol/status/1879543331333788149">sBOLD</a>, yield-bearing version of its V2 stablecoin BOLD, which compounding ETH rewards back into BOLD from V2 Stability Pools.</div>
</li>
<li class="ace-line ace-line old-record-id-GCc9dZbaNoNIDPx2iwau1lV9sRe" data-list="bullet">
<div>- Fluid launched&nbsp;<a rel="nofollow" href="https://x.com/0xfluid/status/1879936725604241753">GHO/USDC</a> smart vault. Fluid has facilitated over $1 billion trading volume in the past week, ranked in the top 3 among Uniswap and Curve, despite being as lending protocol as its core.</div>
</li>
<li class="ace-line ace-line old-record-id-Wldfdu2x1o7zeDxAXYkuuyrls2d" data-list="bullet">
<div>- Solv launched its&nbsp;<a rel="nofollow" href="https://solvprotocol.medium.com/solv-token-launch-a-step-towards-the-future-of-bitcoin-finance-5fb64a69220b">SOLV</a> token across multiple major exchanges including Binance and Hyperliquid. Approximately 18% of SOLV was circulating at launch and the token can be used to enjoy fee discounts such as redemption fees for SolvBTC.</div>
</li>
<li class="ace-line ace-line old-record-id-K9R1dCB1eo5kf7xGaOnuNqNAsVf" data-list="bullet">
<div>- Pyth introduced&nbsp;<a rel="nofollow" href="https://www.pyth.network/blog/introducing-pyth-lazer-launching-defi-into-real-time">Pyth Lazer</a>, offering 1ms update times for price feeds and market data.</div>
</li>
<li class="ace-line ace-line old-record-id-FJyrdw42mooX4Qxhhzeuismysbd" data-list="bullet">
<div>- Justin Sun announced&nbsp;<a rel="nofollow" href="https://x.com/justinsuntron/status/1879568515948228998">USDD 2.0</a>, offering 20% APY.</div>
</li>
<li class="ace-line ace-line old-record-id-RSB8defNvo1Zoexr895umqeNslb" data-list="bullet">
<div>- Worldcoin announced new upgrades to World Mini Apps and the launch of&nbsp;<a rel="nofollow" href="https://world.org/blog/announcements/world-mini-apps-milestones-new-features-incubator-announced">Mini Apps incubator.</a></div>
</li>
<li class="ace-line ace-line old-record-id-KoG5dzGX5oD8HHxcLqDuttBisdc" data-list="bullet">
<div>- Frax Finance launched&nbsp;<a rel="nofollow" href="https://x.com/fraxfinance/status/1878880055260332218">frxETH V2</a>, enabling LendingPool for validators with minimum 8 ETH to borrow 24 ETH from the pool to run a node.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus8ettZ8tT4VPFn01EcyQjQc">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusN6ZGWzMj8fc4dOujZzHZwg">
<div>
<h2 class="heading-2"><strong>Upcoming Alpha and Governance</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusX4lv3LH6AZuknIeMYFwqXl" data-list="bullet">
<div>- Azuki announced ANIME token will be launched on January 23.</div>
</li>
<li class="ace-line ace-line old-record-id-Y1rRd0xCioy8EFxF1OAusc5qsl7" data-list="bullet">
<div>- World Liberty Financial is expected to deliver a major announcement this week.</div>
</li>
<li class="ace-line ace-line old-record-id-Q6isdNZfLoZ54QxMAoEugRP1shg" data-list="bullet">
<div>- Multicoin Capital partners proposed&nbsp;<a rel="nofollow" href="https://github.com/solana-foundation/solana-improvement-documents/pull/228/files">SIMD-0224</a>, suggesting Solana adapting Smart Emissions to its network emissions. The example given in the proposal suggests a target staking participation rate of 50%, 70% participation rate will reduce the inflation rate by 1% and 40% participation rate will increase the inflation rate by 0.5%.</div>
</li>
</ul>
<div class="ace-line ace-line old-record-id-doxusS0RAVmVfpWy95pzj9Dimxf">&nbsp;</div>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusWQvB3Zp1a44m9a3wnhMAjc">
<div>
<h3 class="heading-3"><strong>Token Unlock</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-KgwBdLo3CoGj2cx1FrAu0L9sskI" data-list="bullet">
<div>- WELL token unlocked on January 23rd, amount representing 1.17% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-USQndxIzqorGuixR3gRuXpYbsad" data-list="bullet">
<div>- IMX token unlocked on January 24th, amount representing 1.43% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-MEUGdT1dWoAsHZxvyYhu5V7gsOb" data-list="bullet">
<div>- ALT token unlocked on January 25th, amount representing 10.4% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-ZKvYdOYcwoCMVZxVZnPuPgtJsPc" data-list="bullet">
<div>- RON token unlocked on January 27th, amount representing 8.86% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-DaDBd2gpQoITrYxzn6Au4xEwsNh" data-list="bullet">
<div>- GRASS token unlocked on January 28th, amount representing 1.51% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-CGrudQQGloarEZxW2bBut4g0sOe" data-list="bullet">
<div>- OP token unlocked on January 31st, amount representing 2.38% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-XwjYdwXFZoZxh6x3XcQuu1LKsde" data-list="bullet">
<div>- SUI token unlocked on February 1st, amount representing 2.66% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-Mv0WdpNuNotxPbxscXguLYtdscb" data-list="bullet">
<div>- JTO token unlocked on February 7th, amount representing 3.97% of the token supply.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusJdtVermmKuVYmjuXiWjMse">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxuslh1WMGc9yz1HISYDWufKvf">Please click <a rel="nofollow" href="https://chainupgroup.larksuite.com/share/base/form/shruso3ZBWdvpzRlCT4jwnicgrb">HERE</a> to subscribe for weekly market insight and exclusive research.</div>
</div>




Headline News



- The U.S. President-elect Donald Trump launched its own TRUMP memecoin on Solana last weekend with 

Weekly Market Insight: January Week 4

<div data-page-id="TzAxdVVT6onKb6xSLH8uH0xdsrq" data-lark-html-role="root" data-docx-has-block-data="false">
<div class="ace-line ace-line old-record-id-doxusm9b9ML7aY2VIU6vciiBFUd">
<div>
<h2 class="heading-2"><strong>Headline News</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-QWendQkufoGy8GxIIjvuC0QpsFc" data-list="bullet">
<div>- Bitcoin's price declined by 3.9% last week, driven by a combination of factors. Key economic data suggesting a delay in interest rate cuts weighed on market sentiment, while reports that the U.S. Department of Justice has received approval to liquidate 69,370 Bitcoin seized from&nbsp;<a rel="nofollow" href="https://x.com/tier10k/status/1877176406905356670">Silk Road</a> further added to the selling pressure.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusPPoNkJHJdDKzd3ITq7S7Tg">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxuscAikPLphudb57m3JIAlXog">
<div>
<h2 class="heading-2"><strong>Macro-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxus8AByDlYjutdg5rSrr07jdg" data-list="bullet">
<div>- The U.S. ISM Services PMI rose to 54.1 in December, above market expectation of 53.3.</div>
</li>
<li class="ace-line ace-line old-record-id-MP9Yd8xSmo2IyRxXipMuhwp2sth" data-list="bullet">
<div>- The number of job openings increased by 259,000 to 8.098 million in November, from an upwardly revised 7.839 million in October and above market expectations of 7.70 million.</div>
</li>
<li class="ace-line ace-line old-record-id-Uu7Fdi0VIoJDLWxm9auu8UeHsjf" data-list="bullet">
<div>- Minutes from December 2024 further solidify the view of majority of Fed officials judgment that upside risks to the inflation outlook had increased, signaled just two rate cuts in 2025.</div>
</li>
<li class="ace-line ace-line old-record-id-OTyOdw00Eob9jWxpu9NurJU3sUf" data-list="bullet">
<div>- The U.S. Non-Farm Payrolls increased 256K in December, the highest increment in nine months, beating market forecasts of 160K. The unemployment rate slightly cooled to 4.1% in December from 4.2% in the previous month, below market expectations of 4.2%.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxuskIfDF4taBZrbSEsMz5Fubg">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusz9OCiKGFyionNsnEPNoJgr">
<div>
<h4 class="heading-4"><strong>Upcoming Economic Calendar including,</strong></h4>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxuscUpHiOL1xRXUNFzvJvltHf" data-list="bullet">
<div>- Tuesday, January 14, 9:30pm: The U.S. PPI in December</div>
</li>
<li class="ace-line ace-line old-record-id-Ckk1daWRGoZqe0xptvFuThjvswf" data-list="bullet">
<div>- Wednesday, January 15, 9:30pm: The U.S. Inflation Rate in December</div>
</li>
<li class="ace-line ace-line old-record-id-ATIcdju08o4EKExpryauOALss0b" data-list="bullet">
<div>- Thursday, January 16, 9:30pm: The U.S. Retail Sales in December</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusw7EQvLzDHpN56Ya7CO8Ase">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusPmNds9EqMGCF20rQzuj8qg">
<div>
<h2 class="heading-2"><strong>Weekly-Cryptos-Overview</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxus2zwjnXoob3g5zFj86QuQKh" data-list="bullet">
<div>- The&nbsp;<a rel="nofollow" href="https://cointelegraph.com/news/czech-national-bank-governor-open-bitcoin-investment-future">Czech</a> central bank governor stated in an interview that he was considering Bitcoin as part of the bank's diversification strategy.</div>
</li>
<li class="ace-line ace-line old-record-id-EFdpdbQKboggG3xmmX3uitMWsCb" data-list="bullet">
<div><a rel="nofollow" href="https://www.coindesk.com/policy/2025/01/10/kenya-prepares-to-legalize-cryptocurrencies-in-policy-shift-report">- Kenya</a>'s treasury cabinet secretary stated the country is preparing legislation to legalise cryptocurrencies.</div>
</li>
<li class="ace-line ace-line old-record-id-XB0TdlyUkonVZExiAnpuemCxsGb" data-list="bullet">
<div>- Sol Strategies had secured a total of $52.5 million CAD from&nbsp;<a rel="nofollow" href="https://x.com/solstrategies_/status/1876680774055055698">credit facility</a> and <a rel="nofollow" href="https://x.com/solstrategies_/status/1877466651882565967">ParaFi</a> to facilitate their acquisition of SOL.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusVEgGZhqtTJDzNKhDYcFf1Q">
<div>
<div>&nbsp;</div>
<div>
<h3 class="heading-3 ace-line old-record-id-doxusUHJevyFniWZOoMXFCFpqde">&nbsp;&nbsp;<strong>Layer 1 and Layer 2s</strong></h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-Yp2JdHubpoyDnKxlaOXur0fOsDg" data-list="bullet">
<div>- Arbitrum now supports&nbsp;<a rel="nofollow" href="https://x.com/arbitrum/status/1877420076560953672">ElizaOS</a>. Developers can utilise incentive programs, Trailblazer and Stylus Sprints, to fund their agent development on Arbitrum.</div>
</li>
<li class="ace-line ace-line old-record-id-doxusCXbpJDpqVvcfjwebTTEI5g" data-list="bullet">
<div>- Solana Foundation encouraged testnet validators to perform&nbsp;<a rel="nofollow" href="https://x.com/SolanaFloor/status/1877136015837564948">Frankendancer</a> upgrade in Discord. The test is viewed as the final stage before Firedancer mainnet debut.</div>
</li>
<li class="ace-line ace-line old-record-id-Y9ejdxZaioqHT9xTTTkuqNFEsBd" data-list="bullet">
<div>- Solayer's 2025 roadmap introduces&nbsp;<a rel="nofollow" href="https://x.com/solayer_labs/status/1876360823540695210">InfiniSVM</a>, a hardware-accelerated, infinitely scalable blockchain architecture, achieving 100 Gbps with atomic state.</div>
</li>
<li class="ace-line ace-line old-record-id-BYG1dDhYKoLSUzxiZFrur814s4g" data-list="bullet">
<div>- Starknet introduced&nbsp;<a rel="nofollow" href="https://x.com/Starknet/status/1876992302020976775">SN stack</a>, enabling developers to build their own ZK appchain within Starknet ecosystem.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-VSQBdVptsoALESxZbEmuCZnMshb">
<div>
<div>&nbsp;</div>
<div>
<h3 class="heading-3 ace-line old-record-id-doxusVHz3rnJCObFAWeD9XE4ZJb">&nbsp;&nbsp;Dapps</h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusmVg6OHgO4ciGPchN9zvBWW" data-list="bullet">
<div>- ElizaOS launched a&nbsp;<a rel="nofollow" href="https://x.com/ai16zdao/status/1878363330391244986">v0.1.8</a> upgrade, introducing 15 text-to-speech support, Intel SGX secure enclave support, protocol integrations such as Hyperliquid and more.</div>
</li>
<li class="ace-line ace-line old-record-id-Uxrud3rh7o81ExxENocum3VCshx" data-list="bullet">
<div>- Nubit introduced&nbsp;<a rel="nofollow" href="https://x.com/nubit_org/status/1877701951640793523">Goldinals</a>, enabling indexing of BRC-20, Ordinals, Runes and more asset standards in a trustless mechanism.</div>
</li>
<li class="ace-line ace-line old-record-id-FWCWdywmkoqk50x1eW9ugevTs0f" data-list="bullet">
<div>- Raydium launched&nbsp;<a rel="nofollow" href="https://x.com/RaydiumProtocol/status/1877415113428447239">perpetual exchange</a> powered by Orderly Network, offering free gas and maker fees.</div>
</li>
<li class="ace-line ace-line old-record-id-PYGBd8fbKo4PTsxMSxjuWmKbskf" data-list="bullet">
<div>- Aiccelerate, an investment DAO on dao.fun backed by multiple notable KOLs in crypto AI Agent narrative, launched its&nbsp;<a rel="nofollow" href="https://x.com/aicceleratedao/status/1878124700997668977">AICC</a> token. However, the launch was considered controversial as the pre-launch was allocated to 245 whitelist insiders which resulted in their initial investment surged over 1000x.</div>
</li>
<li class="ace-line ace-line old-record-id-X6jVdZzkjo8AM9xdHo2us8RzsYg" data-list="bullet">
<div>- Illuvium partnered with&nbsp;<a rel="nofollow" href="https://x.com/illuviumio/status/1876631944299249776">Virtuals</a> to leverage G.A.M.E Framework to create interactive NPC for personalised player experience.</div>
</li>
<li class="ace-line ace-line old-record-id-Nkm1dEC9EoR5I9xH4JnuGiEOsOG" data-list="bullet">
<div>- Ether.fi launched&nbsp;<a rel="nofollow" href="https://x.com/ether_fi/status/1876667851874169340">Liquid BTC Yield</a> vault, offering 15% APY from points across 8 protocols.</div>
</li>
<li class="ace-line ace-line old-record-id-RUijdGpRCoqj8nxT0SWuBB4AsAe" data-list="bullet">
<div>- Phala Network announced&nbsp;<a rel="nofollow" href="https://x.com/PhalaNetwork/status/1877052813383184606">v2.0</a>, an OP Succinct Layer 2 on Ethereum, bringing TEE services closer to Ethereum developers.</div>
</li>
<li class="ace-line ace-line old-record-id-TmbAdqOmYoLH4txe4mmuKGw0sqe" data-list="bullet">
<div>- Thorchain paused the&nbsp;<a rel="nofollow" href="https://blockworks.co/news/thorchain-executive-decision-restructuring">ThorFi Savers and Lending</a> programs for the next 12 months, citing its complexity and burden potentially caused by redemption mechanism could drive away participants.</div>
</li>
<li class="ace-line ace-line old-record-id-VtbGd5nANo3mZVxYxweu4Fozswb" data-list="bullet">
<div>- Derive introduced&nbsp;<a rel="nofollow" href="https://x.com/derivexyz/status/1877128211328291299">Derive Pro</a>, partnering with Messari to enable quick trade options from research or news on Messari platform.</div>
</li>
<li class="ace-line ace-line old-record-id-JhpUdxH6UorgPIxRPYxupiTcsxc" data-list="bullet">
<div>- Enso launched on&nbsp;<a rel="nofollow" href="https://x.com/zksync/status/1877375319260237884">ZKsync</a>, enabling dapps on the ecosystem to integrate DeFi features such as swap, lending or vaults seamlessly.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusAdLgZ4kXwkzRISww9B5uxc">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusz7nYMXU1KcdyaKVikOA2fg">
<div>
<h2 class="heading-2"><strong>Upcoming Alpha and Governance</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-JXZzdvZScokLYexqVTYueyXOsse" data-list="bullet">
<div>- Usual announced the&nbsp;<a rel="nofollow" href="https://x.com/usualmoney/status/1876599232867848552">revenue switch</a> (which is projected at approximately 77%, on top of the current 274% APY) will go live if 50% of USUAL tokens are staked or it will auto-activate on February 1. Usual also caught the market by surprise by changing the hard-coded floor price of USD0++ to <a rel="nofollow" href="https://x.com/usualmoney/status/1877781423488479269">$0.87</a>. The action sparked community dissatisfaction. As part of the rectification, the team announced the "1:1 Early Unstaking" feature which will allow users to forfeit a part of their accumulated USUAL rewards to guarantee the 1:1 unstake ratio be released this week.</div>
</li>
<li class="ace-line ace-line old-record-id-OcEUdOCeaoA9w0xp7Fcu6Xz0sMf" data-list="bullet">
<div>- Grayscale Solana ETF's first deadline is expected on January 23, while VanEck and 3 other issuers' deadlines are expected on January 25. The consensus outcome is that the SEC will extend review regarding the applications.</div>
</li>
<li class="ace-line ace-line old-record-id-HY6EdoAaoongc5xAuIEuj4rRsUf" data-list="bullet">
<div>- Azuki has officially introduced&nbsp;<a rel="nofollow" href="https://www.anime.xyz/tokenomics">ANIME</a> token which will be launched in January. 50.5% will be allocated to community and 76.94% token supply will be fully unlocked at launch.</div>
</li>
<li class="ace-line ace-line old-record-id-doxusR3JCq72SXrFF5tkwV3idTb" data-list="bullet">
<div>- Aerodrome is expected to launch&nbsp;<a rel="nofollow" href="https://x.com/AerodromeFi/status/1875942539020382238">Slipstream V2</a> this month, introducing dynamic fees that would increase during a high volatility period and potentially accrued higher APR for liquidity providers.</div>
</li>
<li class="ace-line ace-line old-record-id-URbQdu46OoRuHExViQLuyR1As5d" data-list="bullet">
<div>- Subsequently, after the launch of Mode's AI Agent App Store in November, Mode is set to launch&nbsp;<a rel="nofollow" href="https://x.com/JRossTreacher/status/1877393443653058715">AI Terminal</a> this month, a chat co-pilot that can perform DeFi actions, laying the foundation for DeFAI on Mode Network.</div>
</li>
<li class="ace-line ace-line old-record-id-SM1hdcgNxoMz8xxcj2nu6GlKsod" data-list="bullet">
<div>- Blast announced its&nbsp;<a rel="nofollow" href="https://x.com/blast/status/1877129353785458963">mobile platform and tokenomics</a> updates will be released this month. The tokenomics updates might be related to the December proposal, which utilises yield to <a rel="nofollow" href="https://forum.blast.io/t/blip-buyback-blast-token-with-yield/786">buyback BLAST</a> token.</div>
</li>
<li class="ace-line ace-line old-record-id-RCr2dBQjcoSrKixuGZfumvSes9d" data-list="bullet">
<div>- Theta plans to release the beta version of&nbsp;<a rel="nofollow" href="https://medium.com/theta-network/introducing-the-theta-2025-roadmap-c0745ab754de">hybrid edge cloud architecture</a> on June 25, 2025. Expanding edge nodes's support to seamlessly integrate with cloud-based GPUs to optimize compute-intensive workloads</div>
</li>
<li class="ace-line ace-line old-record-id-X6qed8PFnomyPvxQCfqu7JjCslg" data-list="bullet">
<div>- Ronin partnered with Virtuals to launch its own AI Agent, JAIHOZ. Ronin plans to&nbsp;<a rel="nofollow" href="https://x.com/Ronin_Network/status/1877668942539555127">open</a> Ronin by Q1 2025, opening development on Ronin Network.</div>
</li>
<li class="ace-line ace-line old-record-id-TtModTLlWoKjlZxcLnnueOMLs1e" data-list="bullet">
<div>- Arbitrum passed the proposal to activate&nbsp;<a rel="nofollow" href="https://www.tally.xyz/gov/arbitrum/proposal/101924107818180443784046677916233531742645798596604549673138282938475874935972?govId=eip155:42161:0xf07DeD9dC292157749B6Fd268E37DF6EA38395B9">BoLD</a>, enabling permissionless dispute resolution to Arbitrum fraud proof.</div>
</li>
<li class="ace-line ace-line old-record-id-ZeePdSQIbo9pQxxCgszu5aoxsRc" data-list="bullet">
<div>- Arbitrum is in discussions to onboard&nbsp;<a rel="nofollow" href="https://www.coindesk.com/tech/2025/01/07/south-korea-s-giant-lotte-group-taps-arbitrum-for-its-metaverse-platform">Lotte</a>'s metaverse gaming platform, <strong>Caliverse</strong>, to the Arbitrum Network. In return, the platform could receive what would potentially be the largest grant ever awarded by the Arbitrum Foundation.</div>
</li>
<li class="ace-line ace-line old-record-id-R1Z2dSPPyoPjI5xhWOFumcTnsbe" data-list="bullet">
<div>- Threshold Network proposed setting up&nbsp;<a rel="nofollow" href="https://forum.threshold.network/t/tip-098-the-future-of-threshold/1012">tLabs</a> to lead the development of tBTC and redesign of T tokenomics to address the concern of inflation and token value accrued. The initiative aims to raise 1.2 billion newly minted T for funding tLabs.</div>
</li>
</ul>
<div class="ace-line ace-line old-record-id-doxus7wnK6uasbKzwG9Jp5XN3Yg">&nbsp;</div>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus0OMqlagILfT3L4td6peRIf">
<div>
<h3 class="heading-3"><strong>Token Unlock</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-JRIwd2UrYoo1mUxxTBiuwvP8snd" data-list="bullet">
<div>- ARB token unlocked on January 16th, amount representing 2.2% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-QpLIdDdiwocU6ox83uyuOpansPh" data-list="bullet">
<div>- VANA token unlocked on January 16th, amount representing 1.46% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-NhzwdMrmIoeNNZxKQBOuwkNisVi" data-list="bullet">
<div>- APE token unlocked on January 17th, amount representing 2.12% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-JM6XdNZGRoZFMaxBi9auSrcGsNb" data-list="bullet">
<div>- MERL token unlocked on January 19th, amount representing 5.8% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-LihGdRK1YoVS3Sx9Iubuew3WsZg" data-list="bullet">
<div>- WELL token unlocked on January 23rd, amount representing 1.17% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-AzwPdkAQuouEIjxEmNSuVFrRsTd" data-list="bullet">
<div>- IMX token unlocked on January 24th, amount representing 1.43% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-W5JedbiapoIHwLxWCowugg2Fsdc" data-list="bullet">
<div>- ALT token unlocked on January 25th, amount representing 10.4% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-ScU9dYIx7oEtpjxKnyQuzIBQs69" data-list="bullet">
<div>- RON token unlocked on January 27th, amount representing 8.86% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-HZCWdTW5no14Krxz2VauuK4Esbb" data-list="bullet">
<div>- GRASS token unlocked on January 28th, amount representing 1.51% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-AubSdcmFYoKukcxNInHuY3BesVD" data-list="bullet">
<div>- OP token unlocked on January 31st, amount representing 2.38% of the token supply.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusS5STNcQhy3gtWShgGmVUIc">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusFsw43JtTWVPK87lsywVggf">Please click <a rel="nofollow" href="https://chainupgroup.larksuite.com/share/base/form/shruso3ZBWdvpzRlCT4jwnicgrb">HERE</a> to subscribe for weekly market insight and exclusive research.</div>
</div>




Headline News



- Bitcoin's price declined by 3.9% last week, driven by a combination of factors. Key economic data 

Weekly Market Insight: January Week 3

<div data-page-id="Ca4gdygIvoHXXpxBTLcu92BpsQe" data-lark-html-role="root" data-docx-has-block-data="false">
<div class="ace-line ace-line old-record-id-doxusMrzLiPFFXPzJV0T73NmDZg">
<div>
<h2 class="heading-2"><strong>Headline News</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxus7Amy9OZsJwPtF80Y1E8KId" data-list="bullet">
<div>- Bitcoin price increased by approximately 5.14% in the first week of 2025. Bitcoin ETFs had a net inflow of $244.99 million last week, despite Blackrock experienced its largest daily outflow of $332.62 million last Thursday. Meanwhile, Ethereum ETFs showed a slower start in the new year, closing the first week with $38.2 million net outflow.</div>
</li>
<li class="ace-line ace-line old-record-id-YLDjdVtUao9a2TxBhZWukuN8stb" data-list="bullet">
<div>- Despite the USDT marketcap decreasing by 1% or approximately $1.4 billion last week. The total stablecoin marketcap had a slight increase of 0.39% during the same period, particularly the USDC marketcap increased by approximately $2 billion last week.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusEEqlKujjEvVlbJFMLC9JXc">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusVGEzuwOtKKcyEWNai4jZmP">
<div>
<h2 class="heading-2"><strong>Macro-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusDByoXS2jbgH3NUD3trPIuf" data-list="bullet">
<div>- The U.S. ISM manufacturing PMI increased to 49.3 in December, ahead of market expectations of 48.4.</div>
</li>
<li class="ace-line ace-line old-record-id-Yv1ZdjCeOoxSWwxpLNOu4QQSs8d" data-list="bullet">
<div>- The market estimated 88.8% probability the rate will remain unchanged in January 2025.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusi8BCnnsXVtljYif3Gq36Ve">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxus6zT2bBNjzN4oxrGc3gU1cL">
<div>
<h4 class="heading-4"><strong>Upcoming Economic Calendar including,</strong></h4>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusx4H7S2lEGoQfaRgq4jkIpe" data-list="bullet">
<div>- Tuesday, January 7, 11:00pm: The U.S. ISM Services PMI in December and JOLTs Job Openings in November</div>
</li>
<li class="ace-line ace-line old-record-id-CDAKdbbDFoKf17xE9DFuPPrRsye" data-list="bullet">
<div>- Thursday, January 9, 3:00am: The December FOMC Minutes</div>
</li>
<li class="ace-line ace-line old-record-id-Yg9Udq82GoGR7Jx3fT9ukZE8sqc" data-list="bullet">
<div>- Friday, January 10, 9:30pm: The U.S. Non-Farm Payrolls and Unemployment Rate in December</div>
</li>
<li class="ace-line ace-line old-record-id-Mlhhdir24oPa2Nx0FNeujq0VsWd" data-list="bullet">
<div>- Friday, January 10, 11:00pm: Preliminary Michigan Consumer Sentiment in January</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus2KTmrtL9Hy34AHyYr2JWXc">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusH2AU8tLMZrOHZHa1IjPUSH">
<div>
<h2 class="heading-2"><strong>Weekly-Cryptos-Overview</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxus2a6Mts3GdcFStRorkorJFg" data-list="bullet">
<div>- MicroStrategy acquired another&nbsp;<a rel="nofollow" href="https://www.microstrategy.com/press/microstrategy-acquires-2138-btc-achieves-btc-yield-of-47-qtd-74-ytd-now-holds-446400-btc_12-30-2024">2,138 BTC</a> at average $97,837. MicroStrategy also announced a plan to raise <a rel="nofollow" href="https://www.microstrategy.com/press/microstrategy-to-target-a-capital-raise-of-up-to-2-billion-of-preferred-stock_01-03-2025">$2 billion perpetual preferred stock</a> with the ability to convert to class A common stock, cash dividends and provisions allowing for redemptions of shares.</div>
</li>
<li class="ace-line ace-line old-record-id-UFvydwFOwoqzCIxgozGudbLtsNe" data-list="bullet">
<div>- Swiss federal chancellery proposed to oblige the Swiss National Bank to hold Bitcoin as part of its&nbsp;<a rel="nofollow" href="https://www.reuters.com/markets/currencies/swiss-central-bank-faces-call-hold-bitcoin-reserves-2024-12-31/">reserves</a>. The initiative has 18 months to collect 100,000 signatures to be put to a public referendum.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusJXLNsF0ke4zBRodCQZ3g0g">
<div>
<div>&nbsp;</div>
<div>
<h3 class="heading-3 ace-line old-record-id-doxusxVejCtdg1xvQURDAhlTcs7">&nbsp;&nbsp;<strong>Layer 1 and Layer 2s</strong></h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxuspnJXgF6tbbg0RvbjuEdPYg" data-list="bullet">
<div>- Solayer, Solana restaking protocol, introduced&nbsp;<a rel="nofollow" href="https://x.com/solayer_labs/status/1874881596181897228">LAYER</a> token as its governance token.</div>
</li>
<li class="ace-line ace-line old-record-id-LAT9dVVnJofdUUxY4O5u964jsec" data-list="bullet">
<div>- TON Foundation teams up with&nbsp;<a rel="nofollow" href="https://x.com/ton_blockchain/status/1873804922443227207">Jupiter</a> to incubate a new liquidity aggregator on TON Network.</div>
</li>
</ul>
<div class="ace-line ace-line old-record-id-doxus0XzsTGNhytdrTaMHQas3Ng">&nbsp;</div>
<h3 class="heading-3 ace-line old-record-id-doxuslk4tbbXy73kD0zEJBYGsgd">&nbsp;&nbsp;Dapps</h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-R5dxdkx2NoIqrex89leuzf1PsTb" data-list="bullet">
<div>- Hyperliquid launched HYPE&nbsp;<a rel="nofollow" href="https://x.com/HyperFND/status/1873664112036901320">staking</a> on mainnet with an average APR of 2.26%.</div>
</li>
<li class="ace-line ace-line old-record-id-PA15dJTkOoySeqx9pk4uxHU3sJc" data-list="bullet">
<div>- Pendle launched VIRTUAL/cbBTC&nbsp;<a rel="nofollow" href="https://x.com/pendle_fi/status/1874802183641980971">Aerodrome LP</a> vault on Base, offering around 36.8% fixed yield.</div>
</li>
<li class="ace-line ace-line old-record-id-Qjdedn81VowkCRxnSoeuHDxGs95" data-list="bullet">
<div>- Frax Finance passed the vote for including&nbsp;<a rel="nofollow" href="https://snapshot.box/#/s:frax.eth/proposal/0x2612007bb91ae6ccbc4d0160615e88ca544db7ebad38fde3506d4d8c3f7259ac">USTB</a>, Superstate's tokenised Treasury Bill as part of the reserve asset for frxUSD.</div>
</li>
<li class="ace-line ace-line old-record-id-doxusfeiQ4978JPmN9aWoIwrNwh" data-list="bullet">
<div>- Akash Network released&nbsp;<a rel="nofollow" href="https://x.com/akashnet_/status/1873842924170916216">DeepSeek-V3</a> on AkashChat. It is an open source AI model that rivals GPT-4o and 3.5 Sonnet in performance.</div>
</li>
<li class="ace-line ace-line old-record-id-RvEnd8m8KofHRTxRvEpuv1p8sOf" data-list="bullet">
<div>- GMX reduced the&nbsp;<a rel="nofollow" href="https://x.com/GMX_IO/status/1874830906784952633">trading fees</a> across the platform by 2bps.</div>
</li>
<li class="ace-line ace-line old-record-id-Obt9dBS1XoTPWkxvgdIuGroJsB6" data-list="bullet">
<div>- The f(x) Protocol launched its&nbsp;<a rel="nofollow" href="https://x.com/protocol_fx/status/1874864427402481926">v2.0</a>, introducing fixed, zero-stress leverage trading on ETH with no funding fees or liquidations.</div>
</li>
<li class="ace-line ace-line old-record-id-MqehdlnYIomp8Yx7RiuuQTmpsBb" data-list="bullet">
<div>- RateX, Solana's yield trading protocol, launched the&nbsp;<a rel="nofollow" href="https://x.com/RateX_Dex/status/1873739840661184799">lrtsSOL</a> vault which is powered by the LRT protocol, Adrasteal Finance. Users are able to earn 53.8% fixed APY in the vault.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusZZ8XHATVxNwxGS39jbQJZe">&nbsp;</div>
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<div>
<h2 class="heading-2"><strong>Upcoming Alpha and Governance</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxus2htTKPhxHEBlzD4aBcVlkd" data-list="bullet">
<div>- The Usual Protocol is expected to kick start its&nbsp;<a rel="nofollow" href="https://x.com/usualmoney/status/1874273040886096125">fee switch </a>on January 7.</div>
</li>
<li class="ace-line ace-line old-record-id-APnddL19HorC52xWXgRumyYvsGg" data-list="bullet">
<div>- Sonic, the Solana Layer 2, announced&nbsp;<a rel="nofollow" href="https://x.com/SonicSVM/status/1874078061353939441">SONIC</a> tokenomics with 57% allocated to community and is expected to have initial circulating supply of 15% on January 7. Team and investors allocation will be locked in the first 12 months and locked tokens cannot be staked. SONIC is the gas and stake token of the network.</div>
</li>
<li class="ace-line ace-line old-record-id-Ekr6dInL1oYppVxaLoYugrqCsib" data-list="bullet">
<div><a rel="nofollow" href="https://x.com/ai_avalanche/status/1873687420115509342">- AvalancheAI</a> is introduced as the first AI project on Avalanche, establishing a seamless creation and marketplace for AI Agents. The platform is expected to launch in January.</div>
</li>
<li class="ace-line ace-line old-record-id-NEwYdLBEBo9DsSxFKpAuqFzEsGb" data-list="bullet">
<div>- Thorchain is expected to integrate with Base for cross chain swap in January.</div>
</li>
<li class="ace-line ace-line old-record-id-GpGxdihWCoVpazxW1ktuXExNsFh" data-list="bullet">
<div>- Ethena and AAVE teased the upcoming collaboration named&nbsp;<a rel="nofollow" href="https://x.com/leptokurtic_/status/1874886943433245180">Aavethena</a> without much detail yet.</div>
</li>
<li class="ace-line ace-line old-record-id-ZQrxdaQNkot9nrxQVhjuNblTsye" data-list="bullet">
<div>- Ethena also released&nbsp;<a rel="nofollow" href="https://mirror.xyz/0x29a99F7Fe080F72223dAd48D5E1E86670a984326/zM601bYC8Tqhh2Yg5JbWdbwUVFSDBV_aV7ipxHoOFvM">roadmap</a> for 2025 with plans to launch iUSDe (institution grade delta neutral stablecoin), sUSDe payment Telegram app and focus on ecosystem protocols such as Ethereal and Derive.</div>
</li>
</ul>
<div class="ace-line ace-line old-record-id-doxusvKCqXEfZIuW06t0Q91dacg">&nbsp;</div>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxuswcdKAi5aQrukqMulNCnDng">
<div>
<h3 class="heading-3"><strong>Token Unlock</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-Oh78dkT3moyA7kxTmTyuM8mKsCe" data-list="bullet">
<div>- JTO token unlocked on January 7th, amount representing 4.15% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-KlQPdDBbdoXNt3xGn00uLUnfsOf" data-list="bullet">
<div>- MOVE token unlocked on January 9th, amount representing 2.24% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-ECeddIsq8oXg9lxOQdQuLVt7s1i" data-list="bullet">
<div>- IO token unlocked on January 11th, amount representing 2.76% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-S9lEd8flUomLuBxofOWuh8pIshd" data-list="bullet">
<div>- APT token unlocked on January 12th, amount representing 2.03% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-PVZtd8yGvoUcdUxiAa2uWmUOs2d" data-list="bullet">
<div>- STRK token unlocked on January 12th, amount representing 2.82% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-FCLMdunD5o8WNsxyp8xumJhUsyH" data-list="bullet">
<div>- ARB token unlocked on January 16th, amount representing 2.2% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-GUqbdkE4SomIZfx9U2zud2wFsCd" data-list="bullet">
<div>- VANA token unlocked on January 16th, amount representing 1.46% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-ZsoudzpdAoGPPHxMQwoudQxYs9r" data-list="bullet">
<div>- APE token unlocked on January 17th, amount representing 2.12% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-XU6IdnjhwoRjHqxn0V5unzJYsVb" data-list="bullet">
<div>- MERL token unlocked on January 19th, amount representing 5.8% of the token supply.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus9g7LJBg9xtvsVCiTaXmvBg">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxus3rDRwu38BGhc9Izu7EuQte">Please click <a rel="nofollow" href="https://chainupgroup.larksuite.com/share/base/form/shruso3ZBWdvpzRlCT4jwnicgrb">HERE</a> to subscribe for weekly market insight and exclusive research.</div>
</div>




Headline News



- Bitcoin price increased by approximately 5.14% in the first week of 2025. Bitcoin ETFs had a net i

Weekly Market Insight: January Week 2

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<div class="ace-line ace-line old-record-id-doxusSBxbGDAiXByT394lljsyNb">
<div>
<h2 class="heading-2"><strong>Headline News</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusE8mY0CVTaHaz1WVBTGNSWh" data-list="bullet">
<div>- Bitcoin price decreased by 1.54% last week due to lower trading activities during the holiday season, with approximately 44% lower trading volume compared to previous week. Bitcoin ETFs experienced a weekly net outflow of $387.54 million, while Ethereum ETFs showed signs of resilience, attracted $349.17 million net inflow last week and consecutively 5 weeks of net inflow.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusmTcyB1BZivK6LoD5HYskKd">&nbsp;</div>
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<div>
<h2 class="heading-2"><strong>Macro-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusGQvl6m40ybG9H6PZNtYV0g" data-list="bullet">
<div>- The U.S. Durable Goods Orders in November decreased by 1.1%, worse than market forecasts of a 0.4% decline due to slower transportation equipment orders.</div>
</li>
<li class="ace-line ace-line old-record-id-BnYYdLht7oIYLix4tziudyoxsud" data-list="bullet">
<div>- The market estimated 88.8% probability the rate will remain unchanged in January 2025.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusMd6yjSPp2JZtz3W9Pd0stA">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxus67gzCGR76TRRAK3RWOYjTg">
<div>
<h4 class="heading-4"><strong>Upcoming Economic Calendar including,</strong></h4>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusj1QMbG13vEahYbEWWcKSrO" data-list="bullet">
<div>- Friday, January 3, 11:00pm: The U.S. ISM Manufacturing PMI in December</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus1ggrOEXVwobd46u4vu7qNd">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusnxSLkV1dLwTjMc4xdeokwe">
<div>
<h2 class="heading-2"><strong>Weekly-Cryptos-Overview</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusBI4Gi1VJu1j7blf26cajje" data-list="bullet">
<div>- Bitwise filed&nbsp;<a rel="nofollow" href="https://www.theblock.co/post/332419/bitwise-ramaswamys-strive-file-for-etfs-investing-in-companies-with-bitcoin-treasuries">Bitcoin Standard Company ETF</a>, which aims to invest in companies that hold Bitcoin as corporate financial reserves.</div>
</li>
<li class="ace-line ace-line old-record-id-NoF7dHHjKoqi1bx4U5wuZ93xsoh" data-list="bullet">
<div>- Israel Securities Authority granted approval of six&nbsp;<a rel="nofollow" href="https://www.coindesk.com/policy/2024/12/25/six-bitcoin-mutual-funds-to-debut-in-israel-next-week-report">Bitcoin mutual funds</a>. The fund is expected to launch this week.</div>
</li>
<li class="ace-line ace-line old-record-id-TPdpdeuXVobhGpx9blsuMZC4s4c" data-list="bullet">
<div>- Hexarq, subsidiary of the second largest bank in France, BPCE, received approval to provide&nbsp;<a rel="nofollow" href="https://cointelegraph.com/news/bpce-hexarq-casp-authorization-amf-crypto-services">cryptocurrency investment services</a>.</div>
</li>
<li class="ace-line ace-line old-record-id-T1rMdg8PSolUDixLCZlu799ys0g" data-list="bullet">
<div>- Legislative Council of Hong Kong proposed incorporating Bitcoin into&nbsp;<a rel="nofollow" href="https://dw-media.tkww.hk/epaper/wwp/20241230/a10-1230.pdf">fiscal reserves</a>.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusUrGoKh4TYjHXE9Oo7PP7M8">
<div>
<div>&nbsp;</div>
<div>
<h3 class="heading-3 ace-line old-record-id-doxusKv3reGzy1TsiqhVAfyYQLh">&nbsp;&nbsp;<strong>Layer 1 and Layer 2s</strong></h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusckmbM1OYDDdk5s0j351hJc" data-list="bullet">
<div>- Fuel Network introduced&nbsp;<a rel="nofollow" href="https://x.com/fuel_network/status/1872623177475748337">Fuel Agent Kit</a>, enabling users to build agents that are capable of executing tasks autonomously on Fuel.</div>
</li>
<li class="ace-line ace-line old-record-id-KO2NdLBkKoikBGx6dULunliashb" data-list="bullet">
<div>- Sonic announced upgraded&nbsp;<a rel="nofollow" href="https://x.com/SonicLabs/status/1871394831295217841">tokenomics</a> including a 200 million S airdrop, extended post-launch campaign capped at 15% until 2031 and token burm mechanisms.</div>
</li>
</ul>
<div class="ace-line ace-line old-record-id-doxusy8VR6tCo8d0jjvXBN6IM4f">&nbsp;</div>
<h3 class="heading-3 ace-line old-record-id-doxusvlO2TyantxAj19MvqH7Hxh">&nbsp;&nbsp;Dapps</h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusrt5skSzO89Z1ddCT425ukg" data-list="bullet">
<div>- Chainlink introduced Smart Value Recapture (<a rel="nofollow" href="https://x.com/chainlink/status/1871241636211982752">SVR</a>), recapturing MEV for users of Chainlink Price Feeds. Proposal of SVR integration has been submitted to AAVE governance.</div>
</li>
<li class="ace-line ace-line old-record-id-WMWjdaYuFo6uDRxmtYeukY5fsKd" data-list="bullet">
<div>- Thorchain completed the&nbsp;<a rel="nofollow" href="https://medium.com/thorchain/thorchain-v3-release-659b700d7099">v3 upgrade</a> by integrating the CosmWasm module, which enables smart contract support. The v3 upgrade sets the foundation for Thorchain's vision to expand its DeFi layer in the first half of 2025.</div>
</li>
<li class="ace-line ace-line old-record-id-IVE4dBbvhokLjAxtEgYuSpK8sdg" data-list="bullet">
<div>- Aethir partnered with Injective to launch&nbsp;<a rel="nofollow" href="https://x.com/AethirCloud/status/1872301799715054059">tokenised GPU</a> marketplace, enabling users to trade fractional GPU power and other DeFi functions such as staking and lending.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-Jp16dkpHloldzPxSrQguRchBsVf">&nbsp;</div>
<div class="ace-line ace-line old-record-id-EJWBdpEHCoCqiaxbQzMutZ1Kstf">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusPkZHUtLY24yDE4CVLFtEwe">
<div>
<h2 class="heading-2"><strong>Upcoming Alpha and Governance</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxushsHn4jTAahSFel2Mne0HDh" data-list="bullet">
<div>- BIO Protocol is expected to be listed on&nbsp;<a rel="nofollow" href="https://x.com/bioprotocol/status/1871154807702192337">Binance</a> on January 3. BIO Protocol is a launchpad and liquidity layer for DeSci projects.</div>
</li>
<li class="ace-line ace-line old-record-id-KYRed5YwioXI0mxfMV7ugnhVsMg" data-list="bullet">
<div>- The ai16z announced plans to launch&nbsp;<a rel="nofollow" href="https://hackmd.io/5xpUGMxWRSexntAkfKPnyw">launchpad</a> in Q1 2025, capturing launch fees (half of the fee is used for buyback and burn, another half used to create liquidity for AI16Z), AI16Z staking for access and liquidity pool pairing with AI16Z.</div>
</li>
<li class="ace-line ace-line old-record-id-W97td5eM1od657xNywBuBiANsMf" data-list="bullet">
<div>- Zerebro's creator announced the team is building&nbsp;<a rel="nofollow" href="https://x.com/jyu_eth/status/1873462146249752915">Zentients</a>, a launchpad to launch agent powered by ZerePy. ZEREBRO will be required for a creation fee and base token for the liquidity pools.</div>
</li>
<li class="ace-line ace-line old-record-id-XRT6da6JfoClQgxjcfruB3MhsUD" data-list="bullet">
<div>- OpenSea Foundation website is believed to have been leaked. The community is expecting an airdrop soon.</div>
</li>
<li class="ace-line ace-line old-record-id-JEBldT0M2oh4q7xXmtRupFfgsnh" data-list="bullet">
<div>- Jupiter announced there would be&nbsp;<a rel="nofollow" href="https://x.com/jup_uplink/status/1872315864420430274">700 million</a> JUP being distributed in January 2025. 500 million will be allocated to users and stakers, while 200 million will be allocated to Carrots point holders and Good Cats (contributors to Jupiter ecosystem).</div>
</li>
<li class="ace-line ace-line old-record-id-MKTkdnVxbo45nuxUpijupqhKsTe" data-list="bullet">
<div>- Movement mainnet is expected in January 2025. The founder also emphasised the team and investors' tokens are not allowed to be staked while being vested.</div>
</li>
</ul>
<div class="ace-line ace-line old-record-id-doxus1RKCu7exPv2ExgmOaBOJfb">&nbsp;</div>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus1m5TJV80CsdQEiKI6DfPff">
<div>
<h3 class="heading-3"><strong>Token Unlock</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-FzPmdlfkLoYgNrxxOoAum6gQs2b" data-list="bullet">
<div>- SUI token unlocked on January 1st, amount representing 2.8% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-Ehn0ddyVToOuPExQKI3u6xU1s1d" data-list="bullet">
<div>- DYDX token unlocked on January 1st, amount representing 1.84% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-B1b6diICCoVOxUxs9K7uHDdLsnc" data-list="bullet">
<div>- JTO token unlocked on January 7th, amount representing 4.15% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-XTyOd2yLCoVKkGxpEVnuFYTpsCh" data-list="bullet">
<div>- MOVE token unlocked on January 9th, amount representing 2.24% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-K5GCdFcp0oR2pAxlDjZuQ7jAs1f" data-list="bullet">
<div>- IO token unlocked on January 11th, amount representing 2.76% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-EFh3dN7D3oQtIyxYDEPuL5kAsSe" data-list="bullet">
<div>- APT token unlocked on January 12th, amount representing 2.03% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-Lz0SdKK8ZoelvVxG1qnuKwEqsRg" data-list="bullet">
<div>- STRK token unlocked on January 12th, amount representing 2.82% of the token supply.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusotl1omMJdpBSqm6336mBig">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxuslOX509VuElkcgoFwZNQ3Lg">Please click <a rel="nofollow" href="https://chainupgroup.larksuite.com/share/base/form/shruso3ZBWdvpzRlCT4jwnicgrb">HERE</a> to subscribe for weekly market insight and exclusive research.</div>
</div>




Headline News



- Bitcoin price decreased by 1.54% last week due to lower trading activities during the holiday seas

Weekly Market Insight: January Week 1


Introduction
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Crypto AI Agents You Must Know in 2025

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