Gate Research Institute: LIGHT Surges Over 40% in 24 Hours ｜ JPMorgan Launches USCP Token on Solana

Cryptocurrency Asset Overview

BTC (1.64% | Current price 91,989 USDT)

BTC price experienced a rapid rally after ending sideways consolidation in the past 24 hours, with volume-driven upward movement during the session, reaching around $92,000 at its peak, and a clear shift to a bullish short-term trend. Short-term moving averages MA5 and MA10 have turned upward and formed a bullish alignment, with the price firmly above MA30, indicating bullish momentum dominance. Trading volume significantly increased during the breakout phase, suggesting enhanced capital driving force. In the short term, if the price can hold above the $90,000 level, the trend may continue to stay strong; however, after a continuous rise, short-term indicators are already relatively high, warranting caution for profit-taking at high levels. If the price pulls back below $90,000 with declining volume, a technical correction may occur. Overall, the trend remains relatively strong, and traders should avoid blindly chasing highs.

ETH (0.74% | Current price 3,248 USDT)

ETH price surged and then retreated in the past 24 hours, showing a high-level oscillation pattern. It previously spiked near $3,440 but failed to stabilize, with a clear retracement at high levels. Currently, the price has returned to around $3,240, with short-term moving averages MA5 and MA10 showing signs of flattening, and the price oscillating around MA30, indicating a temporary balance between bulls and bears. From the short-term structure, the $3,300–3,350 zone still faces some resistance; if volume cannot increase to break through, the price may continue to digest the previous gains through oscillation. Support levels are at $3,180–3,200; a breakdown with increased volume could lead to further short-term pullback. The overall trend remains in a rebound correction stage, and short-term operations should focus on breakout directions within the range, avoiding frequent chasing in volatile conditions.

GT (0.08% | Current price 16.96 USDT)

GT price retreated and then rebounded in the past 24 hours, in an overall oscillation and correction phase. It previously declined from above $10.60, bottoming near $10.05 for support, then gradually rebounded and is now trading around $10.45. Short-term moving averages MA5 and MA10 have turned upward, with the price re-establishing around MA30, indicating increasing short-term recovery momentum.

Structurally, the $10.20–10.30 zone below acts as a support level, while the resistance zone above is at $10.55–10.70. If volume can break through, it may continue testing the previous high of $10.79. If rebound volume is insufficient and the price falls back below MA30, the trading range may persist. The overall trend remains oscillatory but leaning toward strength, with short-term trading focusing on within-range momentum, avoiding blind chasing of highs.

Daily Gainers and Losers Tokens

Most tokens continue to show strong upward momentum, market sentiment is high, and capital activity has significantly increased. Light leads the market with a rise of 41.61%, becoming a focal point. Additionally, tokens like JELLYJELLY, TROLL, ICNT, DOLO, INSP have also gained over 30% or even 35%, highlighting strong market heat and capital chase.

Light Light (+41.61%, Market cap $50.46 million)

According to Gate data, the current price of LIGHT token is $1.17, up 41.61% in 24 hours. Bitlight Labs is a company focused on Bitcoin and Lightning Network infrastructure, and a major contributor to the RGB protocol. The company aims to enable native smart contracts and stablecoin transactions on Bitcoin and Lightning Network. It develops core code for Lightning and RGB protocols, as well as developer tools and applications, seeking to provide scalable sovereign asset solutions on the world’s most secure decentralized network.

The recent rally is mainly driven by macro and micro factors: macro-wise, the advancement of staking ETFs and clearer regulations bring long-term benefits to the liquidity staking sector; micro-wise, the recent market buzz around the LDO buyback plan may serve as a short-term price catalyst. On August 7, Lido community member Kuzmich proposed a “LDO Buyback Plan” draft in the governance forum, noting that the Lido treasury holds about $145 million in liquid assets, which are not generating yield for the protocol. The buyback expectation has boosted market revaluation of the token’s value, accelerating capital inflow.

JELLYJELLY Jelly-my-jelly (+38.32%, Market cap $68.6 million)

According to Gate data, JELLYJELLY is currently priced at $0.0677, up approximately 38.32% in 24 hours. JELLYJELLY is a community-driven crypto project emphasizing lightweight application scenarios, with a focus on low participation barriers and high interactivity tokenomics. The project enhances user engagement through social promotion, community incentives, and gameplay design, with tokens mainly used for community rewards, ecosystem participation, and governance. It is positioned as a Web3 community token with strong sentiment and traffic attributes.

The recent rally is mainly driven by market sentiment and capital: on one hand, the overall market has warmed up recently, with funds spreading into high-elasticity small-cap tokens; on the other hand, JELLYJELLY experienced a rapid volume increase, breaking through previous consolidation zones, attracting short-term capital and emotional trading, leading to accelerated price growth. Overall, this rally is sentiment and capital-driven, with sustainability depending on trading volume and community engagement continuation.

TROLL TROLL (+31.13%, Market cap $40.55 million)

According to Gate data, TROLL is currently priced at $0.0404, up about 31.13% in 24 hours. TROLL on Solana is a meme coin inspired by internet joke culture, aimed at entertainment and community engagement, with no intrinsic value. Built on the Solana blockchain, it leverages fast transactions and low fees to attract meme enthusiasts. TROLL initially launched on decentralized exchanges, aiming to create a fun, community-driven ecosystem through social media promotion, influencer collaborations, and viral marketing, embodying the playful spirit of internet trolling.

The 24-hour rise of TROLL is mainly driven by sentiment and capital: on one hand, meme sector activity has increased, with higher risk appetite boosting high-elasticity tokens; on the other hand, after a period of consolidation at low levels, TROLL experienced volume-driven surge, breaking through short-term resistance zones, attracting short-term traders, sentiment traders, and follow-the-leader trades, resulting in rapid upward push. This rally mainly reflects emotion catalysis and technical resonance, with future sustainability depending on volume continuation and overall market heat.

Hot Topics Analysis

JPMorgan launches USCP token on Solana to facilitate milestone debt issuance for Galaxy

Recently, JPMorgan created and launched the USCP token on the Solana blockchain to facilitate Galaxy Digital’s first commercial paper issuance. This is one of the earliest institutional-grade debt issuances on a public blockchain and marks the debut of USCP, a short-term corporate debt token. The transaction used Circle’s USDC stablecoin for issuance and redemption, further validating blockchain’s feasibility in capital markets.

USCP is a tokenized form of Galaxy’s short-term corporate debt, built on Solana by JPMorgan. JPMorgan stated that this transaction demonstrates genuine institutional demand for digital assets and on-chain financial instruments, and reflects the maturity of public chains in security and efficiency. Galaxy management believes that bringing commercial paper onto the chain can improve short-term financing efficiency and attract more institutional investors to incorporate blockchain money market tools, providing a model for future on-chain issuance of institutional financial products.

Blockstream plans to acquire TradFi hedge fund Corbiere Capital to expand institutional-level investment

Crypto investment firm Blockstream Capital Partners announced plans to acquire Jersey-based traditional finance hedge fund Corbiere Capital Management, with undisclosed transaction details. This acquisition will incorporate Corbiere’s core stock and event-driven investment strategies into Blockstream’s newly established asset management division, Blockstream Capital Management, aiming to build a multi-strategy investment platform targeting institutional investors and enriching its Bitcoin-centric product ecosystem.

According to disclosures, Corbiere founder Rodrigo Rodriguez will serve as CIO of Blockstream Capital Management, responsible for integrating traditional securities and Bitcoin-related investment strategies. Rodriguez has over 25 years of experience in stock and event-driven investing, previously working at JPMorgan, Credit Suisse, and BlueCrest. Blockstream’s portfolio company Komainu, a digital asset custody institution, will provide custody, exchange connectivity, and OTC collateral management services for related strategies. Blockstream stated that this acquisition aligns with its long-term strategic goal of combining traditional financial expertise with Bitcoin infrastructure to create an institutional-grade Bitcoin reference investment platform.

El Salvador partners with Elon Musk’s xAI to implement nationwide Grok AI education program

The Salvadoran government announced a partnership with Elon Musk’s xAI to introduce the Grok AI system nationwide, creating the world’s first national AI-driven public education system. The project will cover more than 5,000 public schools over the next two years, benefiting over 1 million students and thousands of teachers, marking a key step in the country’s digital education and AI application development.

According to official reports, Grok will serve as a digital tutor, providing personalized teaching based on students’ learning progress and ability levels, aligned with the national curriculum to ensure equal and fair education resources across urban and rural areas. The project will also develop new AI datasets and frameworks tailored for educational scenarios, emphasizing localization, security, and responsible use. President Nayib Bukele stated that El Salvador is leading innovation in AI-driven education, while Musk said the country is actively building the future of education rather than passively waiting for technological change.
References:

• Gate, https://www.gate.com/trade/BTC_USDT
• Farside Investors, https://farside.co.uk/btc/
• Gate, https://www.gate.com/trade/ETH_USDT
• Farside Investors, https://farside.co.uk/eth/
• Gate, https://www.gate.com/trade/GT_USDT
• Gate, https://www.gate.com/price
• The Block, https://www.theblock.co/post/382250/jpmorgan-creates-solana-based-uscp-token-to-facilitate-landmark-galaxy-debt-offering
• Coindesk, https://www.coindesk.com/tech/2025/12/11/el-salvador-partners-with-elon-musk-s-grok-in-ai-powered-education-for-1m-students

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