Crypto Morning Report: Virtuals announces official expansion to Solana, and the U.S. DOGE department is exploring ways to enhance government efficiency through blockchain technology.

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3 months ago

Decentralized Autonomous AI Agent Network MinionLab Secures $2 Million in Pre-Seed Funding.

Author: Deep Tide TechFlow

Yesterday's Market Dynamics

Virtuals Announces Official Expansion to Solana, 1% Transaction Fee Converted to SOL for Ecological Incentives

According to official news, Virtuals has announced its official expansion to the Solana ecosystem and launched several new initiatives:

• Launching the Meteora trading pool on Solana, maintaining the AGENT/VIRTUAL trading pair;

• Establishing a Strategic SOL Reserve (SSR), converting 1% of transaction fees into SOL for ecological incentives;

• Launching the Venture Partner Model program, providing 42K $VIRTUAL token grants to Base and Solana ecosystem projects;

• Hosting the Virtuals AI Hackathon in March this year, with technical support from the Solana Foundation.

US DOGE Department Exploring Enhancements to Government Efficiency through Blockchain Technology

According to Bloomberg, Elon Musk is leading the newly established US Government Efficiency Department (DOGE), exploring the use of blockchain technology to enhance government efficiency. Sources say Musk's team is researching applications such as tracking federal spending, protecting data, processing payments, and managing assets through blockchain technology, and has met with representatives from several public blockchain projects to assess technical potential.

The department was established by the Trump administration and plans to complete reform proposals by July 4, 2026. Musk stated that blockchain could become a core tool for reducing waste and preventing fraud. However, experts point out that the decentralized nature of public blockchains may limit government control over data, and the advantages over traditional databases in terms of cost and efficiency remain controversial.

Solana Stablecoin Supply Has Increased by 110% Since the Beginning of the Year, Approximately 80% Composed of USDC

According to The Block, based on data from DeFiLlama, the stablecoin supply on Solana has exceeded $10 billion.

Since the beginning of 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.

According to The Block's data dashboard, nearly 80% (approximately $8 billion) of Solana's stablecoin supply is composed of USDC, which has nearly doubled since the beginning of this month, rising from $4.2 billion to $8.2 billion. Tether's USDT accounts for $1.96 billion of the stablecoins on the network.

CZ: The Currency for AI is Cryptocurrency

Binance co-founder CZ posted on the X social platform stating, "The currency for AI is crypto."

Jupiter: Acquires Majority Stake in Moonshot

On January 25, according to an official announcement, the Solana-based DEX aggregator Jupiter has acquired a majority stake in Moonshot.

elizaOS Announces Partnership with Jupiter to Launch $10 Million MAGIC FUND

SolanaFloor posted on the X platform stating that elizaOS has announced a partnership with Jupiter to launch a $10 million MAGIC FUND to provide funding support for OS AI developers.

Decentralized Autonomous AI Agent Network MinionLab Secures $2 Million in Pre-Seed Funding

According to official news, the decentralized autonomous AI agent network MinionLab has secured $2 million in Pre-Seed funding, led by Jsquare and Capital6 Eagle.

The funds will be used for:

Expanding the Minion network, MinionLab will introduce more Minions to a broader user base, ensuring wider coverage and more diverse data collection;

Advanced AI modules: The team will develop dedicated modules to tackle tasks such as multi-step website navigation, advanced data extraction, and other complex use cases;

Developing the ecosystem: Collaborating with AI startups, research institutions, and established enterprises.

MinionLab aims to build a powerful platform that benefits everyone (users, developers, and enterprise clients).

The Current Number of Altcoins Exceeds 36.4 Million, While During the 2017-2018 Altcoin Season, the Number Was Below 3,000

On the X social platform, on-chain analyst Ali stated, "The current number of altcoins has exceeded 36.4 million; during the 2017-2018 altcoin boom, the number was below 3,000, and in 2013-2014, it was even less than 500."

Coinbase International to Launch TOSHI, GIGA, and GRT Perpetual Contracts

According to an official announcement, Coinbase International Exchange and Coinbase Advanced will add support for Toshi, Gigachad, and The Graph perpetual futures.

The TOSHI-PERP, GIGA-PERP, and GRT-PERP markets will begin opening at 9:30 AM UTC on January 30, 2025, or later. (This corresponds to 5:30 PM Beijing time on January 30, 2025.)

Market Dynamics

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