Crypto Morning News: Virtuals announces official expansion to Solana; U.S. DOGE department exploring blockchain technology to improve government efficiency
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Crypto Morning News: Virtuals announces official expansion to Solana; U.S. DOGE department exploring blockchain technology to improve government efficiency
MinionLab, a decentralized autonomous AI agent network, has raised $2 million in pre-seed funding.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Virtuals announces official expansion to Solana, 1% trading fee converted to SOL for ecosystem incentives
According to official news, Virtuals has announced its official expansion into the Solana ecosystem and unveiled several new initiatives:
- Launch a Meteora liquidity pool on Solana, maintaining the AGENT/VIRTUAL trading pair;
- Establish a Strategic SOL Reserve (SSR), converting 1% of trading fees into SOL for ecosystem incentives;
- Introduce the Venture Partner Model, offering 42K $VIRTUAL token grants to projects in the Base and Solana ecosystems;
- Host the Virtuals AI Hackathon in March this year, with technical support already secured from the Solana Foundation.
The U.S. DOGE Department is exploring ways to improve government efficiency through blockchain technology
According to Bloomberg, Elon Musk is leading the newly formed U.S. Department of Government Efficiency (DOGE) in exploring how blockchain technology can enhance governmental efficiency. Sources indicate that Musk’s team is investigating applications such as tracking federal spending, securing data, processing payments, and managing assets via public blockchains, and has already met with representatives from multiple public blockchain projects to assess technological potential.
The department was established under the Trump administration and aims to deliver reform recommendations by July 4, 2026. Musk believes blockchain could become a core tool for reducing waste and preventing fraud. However, experts caution that the decentralized nature of public blockchains may limit government control over data, and whether they offer real advantages over traditional databases in terms of cost and efficiency remains debated.
Solana stablecoin supply surges 110% since the beginning of the year, ~80% composed of USDC
According to The Block, citing data from DeFiLlama, Solana’s stablecoin supply has surpassed $10 billion.
Since early January, the value of stablecoins on the Solana network has surged nearly 110%, rising from $5.1 billion to $10.8 billion. In comparison, Ethereum currently holds $115 billion in stablecoins, BNB Chain holds $7 billion, Base holds $3.8 billion, and Arbitrum holds $3.1 billion.
Per The Block’s data dashboard, nearly 80% (~$8 billion) of Solana’s stablecoin supply consists of USDC, which has almost doubled since the start of the month—from $4.2 billion to $8.2 billion. Tether’s USDT accounts for $1.96 billion of stablecoins on the network.
CZ: The currency for AI is crypto
Binance co-founder CZ posted on X, stating, “The currency for AI is crypto.”
Jupiter: Has acquired majority stake in Moonshot
On January 25, according to an official announcement, Jupiter, the Solana-based DEX aggregator, has acquired a majority stake in Moonshot.
elizaOS announces partnership with Jupiter to launch $10M MAGIC FUND
SolanaFloor posted on X that elizaOS has announced a collaboration with Jupiter to launch a $10 million MAGIC FUND to support OS AI developers.
Decentralized autonomous AI agent network MinionLab raises $2M in Pre-Seed round
According to official news, decentralized autonomous AI agent network MinionLab has raised $2 million in a Pre-Seed funding round led by Jsquare and Capital6 Eagle.
Funds will be used to:
- Expand the Minion network—MinionLab will roll out more Minions to a broader user base, ensuring wider coverage and more diverse data collection;
- Develop advanced AI modules—the team will build specialized modules to handle multi-step website navigation, advanced data extraction, and other complex use cases;
- Grow the ecosystem—by partnering with AI startups, research institutions, and established enterprises.
MinionLab aims to build a powerful platform that benefits everyone—users, developers, and enterprise clients alike.
Number of altcoins now exceeds 36.4 million, compared to fewer than 3,000 during the 2017–2018 altseason
On-chain analyst Ali posted on X: “The number of altcoins has now exceeded 36.4 million; during the 2017–2018 altseason, there were fewer than 3,000, and even fewer than 500 during 2013–2014.”
Coinbase International to list perpetual contracts for TOSHI, GIGA, and GRT
According to an official announcement, Coinbase International Exchange and Coinbase Advanced are adding support for perpetual futures contracts for Toshi, Gigachad, and The Graph.
The TOSHI-PERP, GIGA-PERP, and GRT-PERP markets will open at or after 09:30 UTC on January 30, 2025 (i.e., 17:30 Beijing Time on January 30, 2025).
Market Movements
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