As we welcome the Chinese New Year, the market is filled with anticipation and a true SocialFi comeback. Bitcoin is waiting for its next move, while altcoins are slowly losing ground. Typically, we see Bitcoin push for new highs in a few attempts, followed by a cool-off period that allows altcoins to take the lead. Here’s the latest roundup of crypto news making waves this week.
1) SocialFi Comeback with Tribe and Clout
As the AI token hype fades, the SocialFi comeback is well underway. Key Opinion Leaders (KOLs) have started exploring SocialFi projects, particularly on platforms like Tribe.fun on Solana. Tribe.fun has been trending on Twitter, with users showcasing their personal pages and exclusive groups.
In a broader sense, SocialFi encompasses more than just these products. It includes platforms that facilitate community-driven financial behavior, asset socialization, and interactive finance. Pump.fun, for instance, was one of the first to introduce these social features, adding live streaming later on. On top, you can get airdrops on Tribe which we covered in a guide.
Additionally, Clout.me, another SocialFi project, allows content creators to issue their own tokens. Fans can buy these tokens to support their favorite creators, gaining exclusive content and experiences in return. Recently, Clout.me has gained a lot of attention for its dedicated iPhone app, resulting in a surge of new users.
The SocialFi sector is gradually picking up momentum, with Solana-based projects leading the charge. Whether it lasts or fades away is still unclear, but the rise of platforms like Tribe.fun and Clout.me signals an intriguing shift.
2) Virtuals Protocol’s Solana Move
Virtuals Protocol is expanding to Solana, a move that could have huge implications. Known for its AI agents, Virtuals Protocol has already made waves on Ethereum Layer-2 Base. But now, it’s heading to Solana, a blockchain famed for its high transaction throughput (2,600 TPS). This could offer AI agents the speed and scalability needed to operate without delays or network congestion.
While the Solana community has shown enthusiasm about this move, some users have expressed concerns. They fear that Virtuals’ expansion to Solana could distract from its work on Base. The multi-chain strategy is part of Virtuals’ plan, but there are questions about how well it will execute this shift.
A major part of the expansion involves creating a liquidity layer with Meteora, a Solana-based DeFi protocol. This development will introduce a SOL reserve, where 1% of trading fees will be converted into SOL for use by creators and agents in the ecosystem.
However, despite the excitement, the VIRTUAL token has faced price declines. The token dropped nearly 6% in just one day and is down 46% year-to-date. It seems that, while Solana’s fast transactions could help, the AI agent sector as a whole is struggling with volatility.
3) Jupiter Spikes 40% After Founder’s Announcement
In other news, Jupiter’s JUP token surged by 40% following an announcement by the platform’s founder, Meow. He revealed that the platform would burn 3 billion JUP tokens and use 50% of its fees to buy back tokens from the market. This announcement, which was part of the ‘Catstanbul 2025’ event, also included news of Jupiter’s acquisition of Moonshot, a memecoin launchpad.
The market responded positively, with the price of JUP increasing from $0.90 to $1.27, before slightly retreating. This move has drawn attention to Jupiter’s long-term growth strategy and commitment to deflationary tokenomics.
Check out the details of the 3rd season of the Jupiter airdrop.
4) Abstract Mainnet Live, but Pudgy Penguins Floor Nukes
Abstract, the new Layer-2 Ethereum blockchain behind Pudgy Penguins, officially launched its mainnet this week. Built using ZKsync’s ZK Stack, Abstract promises faster transactions and lower fees, aiming to make Web3 applications more accessible.
However, the Pudgy Penguins NFT floor price has taken a hit, dropping from a recent 23 ETH high to 11 ETH. Airdrop farmers, who expected Pudgy Penguins holders to receive airdrops at TGE, were disappointed when the timeline for the token generation event (TGE) became unclear. As a result, many dumped their NFTs, leading to a floor price crash.
Here are a few airdrop farming opportunities on Abstract:
Find more by heading to our “browse airdrops” section and filtering on “Abstract” blockchain.
5) Hacker Steals $29M Worth of SUI
In a major security breach, a hacker managed to steal $29 million worth of SUI tokens from an unsuspecting victim. The on-chain sleuth ZachXBT uncovered the hack, which took place on December 12. The stolen funds were moved from SUI to Ethereum via Bridgers and deposited in Tornado Cash.
The victim transferred their assets to a new address after the theft, but the lack of advanced blockchain tools for tracing SUI transactions made it challenging to track the stolen funds. The hacker’s use of Tornado Cash, a coin-mixing service, added another layer of difficulty in following the stolen funds.
After the kidnapping and rescue of Ledger’s co-founder, it seems that crime in crypto hasn’t slowed down.
6) Burnt Toast Becomes New CEO of Doodles
In the world of NFTs, Burnt Toast has taken the reins as the new CEO of Doodles, replacing Julian Holguin. Burnt Toast, a prominent artist associated with the Doodles project, announced that he would focus on radical transparency, risk-taking, and innovation. While some have expressed mixed feelings about the change, Burnt Toast’s appointment marks a new chapter for Doodles as it continues to thrive in the competitive NFT space.
Burnt Toast previously teased a Doodles token and potential airdrop, we’re excited to see if this will be executed shortly.
Final Thoughts
The crypto space is full of evolving trends, from the SocialFi comeback with projects like Tribe.fun and Clout.me, to Virtuals Protocol’s expansion to Solana and Jupiter’s token buybacks. However, the market is also facing challenges, with Pudgy Penguins’ floor price dropping and SUI thefts highlighting the risks of the sector.
As Bitcoin waits for its next move, altcoins are feeling the pressure. Whether these trends will result in long-term growth or short-term volatility remains to be seen. Regardless, it’s clear that crypto continues to evolve rapidly, with both opportunities and challenges for investors and creators alike. Stay tuned for more updates!
If you enjoyed this blog, you may want to check our other crypto news updates.
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