The cryptocurrency landscape is set for a pivotal week, with key protocol upgrades, high-impact token unlocks, and notable project launches shaping market dynamics. From yield innovations to regulatory milestones and ecosystem expansions, this preview breaks down the most significant events from January 13 to January 19, 2025.
Key Highlights This Week
- Usual Protocol prepares to activate its Revenue Switch on January 13 to stabilize USD0++ after depegging concerns.
- Ondo (ONDO) faces a massive unlock of 1.94 billion tokens—equivalent to 134.21% of current circulating supply.
- Cheelee (CHEEL) and Polyhedra (ZKJ) among multiple projects with major unlocks on January 13.
- Shiba Inu’s privacy-focused Layer3 launches with the debut of the TREAT token on January 14.
- Ethena’s Derive (DRV) distribution begins on January 15, rewarding sENA stakers.
- Regulatory developments include a critical SEC deadline in the Ripple case and a legal challenge against OpenAI's shift to for-profit status.
January 13: Yield Innovation & Multi-Project Token Unlocks
Coinbase Warns Users: Celo L1 Migration Requires Action
Coinbase has issued a critical alert: users must withdraw CGLD from the exchange by January 13 ahead of the Celo L1 to L2 migration on January 16. The platform will not support the hard fork, meaning any CGLD left on Coinbase after the transition may become inaccessible. Once the L1 network halts block production, asset transfers will no longer be possible.
👉 Stay ahead of blockchain upgrades with real-time alerts and secure asset management.
Usual Protocol to Launch Revenue Switch for USD0++ Stability
Following the depegging of USD0++, RWA stablecoin issuer Usual Protocol is rolling out damage control measures. The centerpiece: the activation of its Revenue Switch on January 13. This feature enables the protocol to share up to $5 million monthly in real-world asset (RWA) earnings with USUALx stakers—potentially delivering over 50% annualized returns.
The switch requires over 50% of USUAL tokens to be staked as USUALx. If this threshold isn’t met, it will auto-activate by February 1, 2025. All revenue flows directly to USUALx holders in USD0, reinforcing the token’s utility and economic alignment.
Additionally, a new "1:1 early unstaking" option will launch next week, allowing users to redeem USD0++ at par—but forfeiting accrued rewards as a penalty.
Major Token Unlocks on January 13
Investors should monitor these significant unlocks:
- Cheelee (CHEEL): 20.81 million tokens (~$169M)
- Polyhedra (ZKJ): 17.22 million tokens (~$33.2M), 28.52% of current supply
- World Mobile Token (WMTX): 16.04 million tokens (~$6.4M)
- CYBER (CYBER): 886,000 tokens (~$2.7M), 3.81% of supply
- Covalent X (CXT): 26.9 million tokens (~$2.5M), 2.99% of supply
- Moonwell (WELL): 38.54 million tokens (~$1.8M), 1.23% of supply
These releases could impact short-term price action, especially for lower-cap projects.
January 14: Privacy Chains & AI Governance Take Center Stage
Shiba Inu Launches TREAT Token for Privacy Layer3
The Shiba Inu ecosystem expands with the launch of TREAT, the utility and governance token for its new privacy-focused Layer3 built on Shibarium (Ethereum L2). The project previously raised $12 million from non-U.S. investors to fund development.
TREAT holders will govern network upgrades, privacy parameters, and ecosystem incentives—marking Shiba Inu’s strategic push into confidential computing and decentralized identity.
Renzo Launches bzSOL for BNSOL Re-Staking
Renzo Protocol introduces bzSOL, a re-staking token allowing users to stake either SOL or BNSOL. Minting begins on January 14 at 21:00 Beijing time and runs for 24 hours.
Early adopters gain exposure to Jito Tip Router, with re-staking rewards automatically compounding into BNSOL—enhancing yield efficiency in Solana’s liquid staking economy.
Nodepay Distributes First AI Training Incentives
Decentralized AI platform Nodepay conducts its first airdrop, distributing 115 million Nodecoin (NC)—11.5% of total supply—to early contributors across three seasons. The move incentivizes participation in AI model training and strengthens community ownership.
BNB Chain MVB9: AI-Focused Developer Push
BNB Chain’s ninth Most Valuable Builder (MVB) program closes applications on January 14. With a focus on AI-first Web3 innovation, the four-week accelerator—backed by Binance Labs and CMC Labs—welcomes DeFi, DeSci, gaming, and social projects integrating AI use cases.
January 15: Regulatory Milestones & Ethena Ecosystem Growth
SEC Must File Ripple Brief by January 15
In the ongoing SEC vs. Ripple appeal, the Second Circuit Court has set a firm deadline: the SEC must submit its opening brief by January 15, 2025. This marks a crucial phase in determining how U.S. regulators classify crypto assets under securities law.
Ethena Launches Derive (DRV) Airdrop
Ethena rolls out Derive (DRV), allocating 5% of total supply to sENA stakers. This move strengthens Ethena’s ecosystem by rewarding long-term holders and expanding utility across its synthetic dollar infrastructure.
Degen Announces Liquidity Mining Airdrop
The Degen ecosystem launches a liquidity mining program with snapshots ending on January 14. Participants providing liquidity across select pools will receive airdropped rewards, boosting capital efficiency in decentralized trading.
Starknet & Eigenlayer Unlock Major Supplies
Notable unlocks on January 15:
- Starknet (STRK): 64 million tokens (~$276M)
- Eigenlayer (EIGEN): 1.29 million tokens (~$4.1M)
- Connex (CONX): 4.33 million tokens (~$85.8M), a staggering 376% of current supply
- Sei (SEI): 55.56 million tokens (~$215M)
Large unlocks like Connex’s may pressure prices unless offset by strong demand or buyback mechanisms.
January 16–18: Exchange Listings & Mega Unlocks
OKX and Gate.io List DuckChain (DUCK)
On January 16, both OKX and Gate.io list DUCK, the native token of DuckChain—the first EVM-compatible consumer layer on TON and Telegram. The integration aims to accelerate dApp development across messaging platforms.
👉 Access newly listed tokens with zero fees and deep liquidity pools.
Binance Completes Fantom-to-Sonic Transition
Binance finalizes support for Fantom’s rebranding to Sonic (S) on January 16, launching multiple trading pairs including S/USDT and S/BNB. The upgrade reflects Fantom’s shift toward scalable, high-throughput blockchain infrastructure.
Ondo (ONDO) Faces $24.1 Billion Token Unlock
The week’s most significant unlock occurs on January 18: 1.94 billion ONDO tokens, worth approximately $24.1 billion, enter circulation—surpassing current supply by 134.21%. Market watchers anticipate volatility unless offset by strong institutional demand or staking incentives.
Other major unlocks on January 18:
- UXLINK: 26.56 million tokens (~$33.2M)
- QuantixAI: 232,000 tokens (~$19.6M)
- Cloud: 48.92 million tokens (~$8.5M)
Frequently Asked Questions (FAQ)
Q: What is Usual Protocol’s Revenue Switch?
A: It’s a mechanism that shares up to $5M monthly in RWA-generated revenue with USUALx stakers, aiming to stabilize USD0++ and align incentives.
Q: Why is Ondo’s token unlock significant?
A: The unlock exceeds current circulating supply, potentially increasing sell pressure unless absorbed by demand or staking programs.
Q: How does TREAT fit into Shiba Inu’s ecosystem?
A: TREAT powers governance and utility on Shiba Inu’s new privacy Layer3, enabling confidential transactions and decentralized control.
Q: What happens if I don’t withdraw CGLD from Coinbase?
A: You risk losing access to your assets after the Celo L1 shutdown on January 16.
Q: Is the OpenAI nonprofit challenge legally binding?
A: While not guaranteed to succeed, the lawsuit highlights growing concern over AI ethics and corporate accountability.
Q: Where can I track upcoming token unlocks?
A: Use blockchain analytics platforms or integrated dashboards that monitor vesting schedules and circulating supply changes.
Final Thoughts
This week underscores the importance of proactive portfolio management amid shifting protocol dynamics and large-scale unlocks. From yield innovations to regulatory clarity and AI integration, these developments reflect crypto’s maturation into a multifaceted digital economy.