Gate Research Institute: Tokenized Stock AUM Surpasses $1 Billion | Nike Liquidates NFT Business Assets

Summary

• BTC and ETH maintain oscillation and recovery; the trend is yet to be confirmed, with funds favoring low-volatility and medium- to long-term narrative assets.
• Aave Horizon RWA market net deposits surpass $600 million, with institutional funds continuously entering.
• Tokenized stock asset management scale exceeds $1 billion, with on-chain securities accelerating expansion.
• Nike sells RTFKT, completing a phased liquidation of its Web3 business venture.
• Polymarket introduces real estate prediction trading, accelerating coverage of real economic variables.
• CONX, APT, and STRK will unlock approximately $25.23 million, $21.26 million, and $11.10 million worth of tokens respectively within the next 7 days.

Market Analysis

Market Commentary

• BTC — After a spike and pullback on the 1-hour chart, BTC enters a consolidation phase, supported near $91,000. Short-term attempts at recovery toward MA5 and MA10, but overall still below MA30, indicating a weak rebound structure. MACD below zero line, green bars converging, showing weakening downward momentum. Short-term viewed as technical rebound; trend reversal remains unconfirmed.
• ETH — ETH’s correction is relatively limited; after stabilizing near $3,150, it slowly rebounds, gradually approaching short-term moving averages, but MA30 overhead still exerts pressure. MACD in weak zone but with marginal improvement in momentum bars, showing oscillation and recovery pattern. Structural strength slightly better than BTC, but volume confirmation needed.
• Altcoins — Over the past week, funds continue flowing into foundational and general-purpose sectors, with Layer 2, Rollup, DAG, and Storage sectors rising approximately 13%–17%. In the context of mainstream assets oscillating, the market prefers infrastructure assets with long-term narratives and definite application scenarios.
• Stablecoins — Total market cap of stablecoins is currently $308.1 billion, with a weekly increase of $42.6 million, up 0.14%.
• Gas Fees — Ethereum network gas fees have generally remained below 1 Gwei over the past week, with a peak of 1.90 Gwei in the past hour. As of January 8, the average gas fee for the day was 0.052 Gwei.

Popular Tokens

In the past 24 hours, the crypto market continued its adjustment trend, with overall sentiment still in a clear risk-averse zone. The fear index dropped to 28, slightly recovering from previous lows but still in the “fear” zone, reflecting that capital confidence has not yet fully recovered. From the market structure, BTC and ETH declined about 1.1% and 2.2%, respectively, continuing to weigh on the index; mainstream assets like XRP, SOL, etc., fell mainly within 1%–3%, with limited sector divergence. Most assets weakened simultaneously, indicating the market remains dominated by deleveraging and cautious sentiment.

ZKP zkPass (+59.74%, circulating market cap $39.86 million)

According to Gate data, zkPass token is currently priced at $0.1885, up over 59.74% in 24 hours. zkPass is a privacy and identity verification protocol based on zero-knowledge proofs (ZKP), aiming to enable “verifiable but non-disclosing” identity and activity proofs without exposing user data.

The recent price surge is driven mainly by narrative and event resonance. First, several Twitch creators experienced account and revenue tampering despite enabling 2FA, sparking widespread reflection on the traditional security model of “login as the endpoint.” zkPass team and community leveraged this to emphasize their design philosophy that “trust should not end at login,” significantly boosting discussion. Second, zkPass’s native token ZKP has entered circulation, with ongoing advocacy on ZK identity, zkTLS, and general proxy topics, making it a representative project in the ZK privacy and identity track. Under the influence of sentiment amplification and limited circulating supply, the token experienced a rapid short-term rally.

ELF aelf (+49.25%, circulating market cap $102 million)

According to Gate data, ELF is currently priced at $0.14374, up over 49.25% in 24 hours. aelf is a high-performance modular public chain project initially focused on DeFi and multi-chain architecture, gradually extending its narrative to DeSci and cross-chain infrastructure. Through a main chain + side chain design, it enhances execution efficiency and resource isolation, and has launched tools like TomorrowDAO to support on-chain management of scientific research funding, governance, and data transparency, reinforcing its long-term positioning as a “general-purpose underlying protocol.”

The recent price increase is driven by both capital movements and narrative development. First, aelf announced the completion of cross-chain liquidity allocation of 5 million ELF to eBridge, strengthening asset flow expectations between aelf and Ethereum ecosystems, boosting market confidence in its cross-chain usability. Second, the project continues to emphasize DeSci narrative, positioning itself as “the structural layer of decentralized scientific research,” gaining attention amid market preference for infrastructure and medium- to long-term application narratives.

GUN Gunz (+41.21%, circulating market cap $13.83 million)

According to Gate data, GUN is currently priced at $0.021974, up over 41.21% in 24 hours. Gunz is a game ecosystem token launched by Gunzilla Games, serving its core product Off The Grid’s on-chain economy. The project aims to combine AAA shooter gameplay with Web3 asset mechanisms through tokenized items, on-chain settlement, and programmable rules, enhancing player engagement and content lifecycle, with the goal of introducing sustainable on-chain economic models without sacrificing gameplay.

The recent GUN price rally is mainly driven by game content updates and increased exposure. First, the “Off The Grid” ranked protocol major update launched in December, introducing ranked mode, custom servers, and core mechanic reworks, significantly boosting player activity and community discussion. Second, the project gained offline and online exposure from mainstream gaming media like Game Informer, strengthening its “mainstream game” identity and expanding reach to non-crypto users.

Key Data

Aave Horizon RWA market net deposits surpass $600 million, with institutional funds continuing to flow in

Aave’s Horizon RWA market net deposits have exceeded $600 million, indicating ongoing strong capital attraction in the real-world assets sector. This growth is not short-term volatility but steady accumulation amid increased institutional participation and clearer compliance structures, reflecting market recognition of the stable yield and risk management of on-chain RWA products.

Structurally, the expansion of Horizon RWA funds suggests DeFi is gradually shifting from high-volatility, high-trade assets to financial scenarios anchored in credit, cash flow, and real assets. This trend helps reduce DeFi’s overall yield sensitivity to market cycles and strengthens Aave’s strategic position as an institutional-grade DeFi infrastructure, laying a foundation for more compliant assets onboarding and scaled applications.

Tokenized stock asset management scale exceeds $1 billion, with on-chain securities accelerating expansion

According to Dune data, the total assets under management (AUM) of tokenized stocks have surpassed $1 billion, marking on-chain securities entering a phase of scaled development. The growth is not linear but shows a marked acceleration in the second half of the year, indicating increased market acceptance of on-chain stock products and shifting from early experimental participation to more sustained large-scale investment.

Structurally, the expansion of AUM is mainly driven by leading issuance and circulation platforms, with clear tiering among different blockchains and issuance schemes: some platforms dominate with deep liquidity and compliance pathways, while others leverage low-cost or cross-chain advantages to serve niche demands. This shift indicates tokenized stocks are transitioning from “proof of concept” to “product competition,” with future growth depending on regulatory feasibility, transparency of underlying asset custody, and secondary market liquidity matching institutional needs.

Barclays makes its first bet on stablecoin infrastructure, signaling entry of traditional banks

Barclays, a banking giant with an asset management scale of about $2.2 trillion, has completed its first investment in the stablecoin field, supporting the stablecoin infrastructure project Ubyx. This move signifies that large traditional banks are shifting from cautious observation to actual capital deployment. Stablecoins are no longer just seen as payment tools in crypto markets but are gradually entering the long-term strategic scope of mainstream financial institutions.

Strategically, this investment leans more toward “infrastructure betting” rather than a single stablecoin issuance. Ubyx focuses on stablecoin settlement, clearing, and system integration capabilities for institutions, aligning with banks’ core needs in compliance, risk control, and scaled application. This signals that stablecoins are moving from fringe innovation to a key connective layer within the financial system, potentially playing a more structural role in cross-border payments, corporate treasury management, and on-chain settlement networks.

Focus for Next Week

Token Unlocks

According to Tokenomist data, over the next 7 days (2026.01.09 - 2026.01.15), several significant token unlocks are scheduled. The top three are:

• CONX — approximately $25.23 million worth of tokens will unlock, representing 82.4% of circulating supply.
• APT — approximately $21.26 million worth of tokens will unlock, representing 1.5% of circulating supply.
• STRK — approximately $11.10 million worth of tokens will unlock, representing 2.5% of circulating supply.
  Sources

• Gate, [https://www.gate.com/trade/BTC_USDT]###https://www.gate.com/trade/BTC_USDT###
• Farside Investors, [https://farside.co.uk/btc/]###https://farside.co.uk/btc/###
• Gate, [https://www.gate.com/trade/ETH_USDT]###https://www.gate.com/trade/ETH_USDT###
• Gate, https://www.gate.com/crypto-market-data
• CoinGecko, https://www.coingecko.com/en/cryptocurrency-heatmap
• CoinGecko, https://www.coingecko.com/en/categories
• DefiLlama, https://defillama.com/stablecoins
• Etherscan, https://etherscan.io/gastracker
• Rootdata, https://www.rootdata.com/Fundraising
• Tokenomist, https://tokenomist.ai/
• X, https://x.com/Cointelegraph/status/2008947006626992400?s=20
• Dune, https://dune.com/gateresearch/stocks
• X, https://x.com/Cointelegraph/status/2008856277380698308?s=20
• X, https://x.com/solana/status/2008536556475478349?s=20

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