Gate Institute: ISLM surges over 460% in 24 hours | JPMorgan advances blockchain deployment

2026-01-09 08:35:14

Cryptocurrency Asset Overview

BTC (-0.25% | Current price 91,065 USDT)

In the past 24 hours, BTC’s price initially continued the previous rally and surged rapidly, forming a local high near 94,800 USDT. Subsequently, bullish momentum weakened, and the price began to retreat from high levels, experiencing a noticeable downward trend. During the decline, the price found support after dipping to around 88,465 USDT. The bearish momentum gradually dissipated, and bottom-fishing funds entered the market, driving a technical rebound. Currently, the price has recovered to around 91,000 USDT, but overall remains in a correction and consolidation phase after the decline. There is significant resistance in the 92,000–93,000 region above, while the 90,000 level below has become an important short-term support for the bulls and bears. The short-term trend is mainly oscillating and repairing, awaiting a new directional choice.

ETH (-0.40% | Current price 3,103 USDT)

In the past 24 hours, ETH’s price continued its previous upward trend and pushed higher, forming a local high near 3,308 USDT. Afterwards, bullish momentum significantly weakened, and the price retreated from the high, gradually evolving into a smoother downward trend. During the decline, the price bottomed out around 3,020 USDT and found support. A small technical rebound followed, but the rebound was relatively limited. Currently, the price is around 3,100 USDT. Overall, ETH remains in a weak correction phase after the decline, with notable resistance in the 3,150–3,200 region above, and the 3,000 level below serving as a key short-term support. The short-term trend is mainly oscillating with slight weakness.

GT (-0.10% | Current price 10.22 USDT)

In the past 24 hours, GT’s price showed a generally oscillating downward trend. After reaching a local high near 10.73 USDT, bullish momentum gradually waned, and the price’s center of gravity started to shift downward, entering a relatively continuous decline. During the decline, the price bottomed around 10.11 USDT and showed signs of stabilization. A small rebound followed, and the current price is around 10.20 USDT. Overall, GT remains in a weak consolidation phase after the downtrend, with resistance in the 10.35–10.50 region above and short-term support near 10.10 below.

Daily Gainers and Losers Tokens

Based on the current market heatmap, most tokens are in a declining state, with the overall market showing a weak pattern and capital sentiment turning cautious. Mainstream coins like BTC and ETH have experienced varying degrees of correction, with ETH and XRP showing more significant declines, while tokens like SOL have only slightly rebounded. Overall, the market is still digesting adjustments, with short-term risk appetite decreasing and capital holding a wait-and-see attitude compared to earlier.

ISLM HAQQ Network (+469.33%, circulating market cap $150 million)

According to Gate data, the current price of ISLM is $0.0555, up 469.33% in 24 hours. ISLM is the core token of the HAQQ Network ecosystem. HAQQ is a blockchain network built around the core concept of “Islamic financial compliance,” dedicated to creating Web3 infrastructure that meets ethical finance and real asset compliance requirements. The project focuses on real-world assets (RWA), compliant DeFi, and cross-border financial applications, aiming to provide blockchain financial services that conform to regulatory and cultural value systems for billions of potential users worldwide.

In the past 24 hours, ISLM’s price surged significantly, mainly driven by concentrated capital inflows and rapidly rising market sentiment. As the core token of the HAQQ Network ecosystem, ISLM experienced a notable increase in trading volume, with both price and gains ranking among the top on the platform, attracting a large amount of trend-following capital. After a strong breakout with increased volume, short-term speculative and chasing-buying funds further followed, accelerating the upward movement.

I’m Coming ( +130.54%, circulating market cap $16.62 million)

According to Gate data, the current price of “I’m Coming” is $0.01567, up 130.54% in 24 hours. This project is a community-driven meme token that emphasizes Chinese crypto community culture and emotional resonance. It quickly gathered market attention and liquidity through strong emotional expression and topic dissemination, mainly driven by community consensus, viral effects, and market heat. It exhibits typical meme coin attributes and high elasticity.

In the past 24 hours, “I’m Coming” experienced a sharp price increase, mainly fueled by the narrative of the Chinese Year of the Horse and the rapid warming of Chinese community sentiment. The token uses puns related to “Year of the Horse” and “coming on horseback” as its core message, spreading quickly within Chinese social groups and platforms, significantly boosting market attention and discussion. According to Gate data, trading volume surged, with short-term and emotional capital flooding in, driven by thematic resonance and capital influx, resulting in a rapid price rally characteristic of emotion-driven markets.

FRAX Frax (+37.78%, circulating market cap $77.31 million)

According to Gate data, the current price of FRAX is $0.8671, up 37.78% in 24 hours. Frax is a decentralized stablecoin protocol aiming to build a partially algorithmic, partially collateralized stablecoin system, gradually evolving into a fully decentralized monetary system. The Frax ecosystem currently includes stablecoins, LSD (liquidity staked tokens), lending, and AMO mechanisms, making it one of the more mature protocols with a complete financial system design in the DeFi space.

In the past 24 hours, FRAX’s price strengthened notably, mainly driven by market sentiment recovery and increased attention to stablecoins. As overall risk appetite improves, some funds are flowing back into DeFi and stablecoin sectors. As an established protocol token, FRAX’s trading activity has significantly increased, with volume expanding, and the price rebounding sharply under capital support.

Hot Topics

JPMorgan Advances Blockchain Strategy, Plans to Build an “Interoperable Digital Currency” System

JPMorgan is accelerating its blockchain and digital currency strategic deployment. The bank announced plans to expand its deposit token JPM Coin to multiple blockchain networks, including Canton Network, which emphasizes privacy and institutional compliance, to build a regulated, interoperable digital currency system for near real-time interbank settlement and transfer. Currently, JPM Coin is anchored to USD deposits, and it is already serving institutional clients on Coinbase’s Ethereum Layer 2 network Base, as well as being used by companies like Siemens for cross-border foreign exchange settlement scenarios.

JPMorgan states that deploying JPM Coin natively on Canton Network is a key step toward creating a multi-chain interconnected settlement system. As JPM Coin gradually expands to more blockchain platforms, institutional users will be able to receive, transfer, and redeem funds in a secure, synchronized, and regulated environment, significantly improving cross-market capital flow efficiency. This move also demonstrates how traditional financial giants are leveraging blockchain technology to advance “digital currency infrastructure” toward higher levels of interoperability and practical application.

XRP Spot ETF Ends Eight Weeks of Net Inflows, About $40 Million Outflow in a Single Day

XRP spot ETF recorded its first single-day net outflow since its listing in mid-November last year, ending nearly two months of net inflows. Data shows that on January 7, the overall net outflow was approximately $40.8 million, mainly due to redemptions of about $47.25 million from 21Shares’ TOXR product, while products from other issuers like Canary, Bitwise, and Grayscale mostly maintained small net inflows or flat. Despite this, XRP ETF’s total trading volume on that day still reached about $33.74 million, indicating active trading but no signs of panic selling.

Previously, steady ETF capital inflows were considered an important support for XRP outperforming the market early in 2026. The recent net outflow does not necessarily indicate a trend reversal; large redemptions from a single product are more likely related to institutional asset reallocation, tax considerations, or market maker inventory management. However, given XRP’s significant gains since the start of the year, future ETF capital flows will remain an important indicator for market demand cooling.

Polygon Launches Open Money Stack to Build Borderless Payment Infrastructure for Stablecoins

Polygon Labs officially announced Open Money Stack, a new modular payment infrastructure framework designed to support stablecoin-based payments and simplify cross-border value transfer processes. The system is expected to go live later this year, with cross-chain compatibility and customizable features. Financial institutions and fintech companies can integrate key components such as on-chain settlement, fiat on/off ramps, and compliance tools, reducing reliance on multiple service providers and lowering operational complexity.

Polygon Labs states that Open Money Stack will integrate core modules like liquidity management, payment orchestration, and regulatory controls, helping enterprises complete complex payment workflows on a unified infrastructure. The system aims to enable smoother cross-border payments without cumbersome operations like cross-chain bridging or token swaps. This move demonstrates Polygon’s accelerated focus on building stablecoin payment infrastructure for institutional and large-scale commercial applications.
References:

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BTC-0,86%

ETH-1,01%

GT1,36%

ISLM-12,71%

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Last edited on 2026-01-09 08:39:42

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