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MARKETS DAILY: Crypto News Roundup for Jan. 16, 2020
With bitcoin up more than 20% so far this year, the rally is taking a breather. CoinDesk's Markets Daily is back with an expanded news round-up that'll condense about an hour of reading into less than 8 minutes of stories and highlights.
Updated May 2, 2022, 4:00 p.m. Published Jan 16, 2020, 7:19 p.m.
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Today's topics:
- Bitcoin is facing temporary bullish exhaustion, according to Wednesday’s “doji” candle.
- Digital dollars are moving full steam ahead?
- Bitthumb is fighting a big tax bill.
- Sacramento Kings auction off a jersey... on the blockchain.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Memecoin boom turns into capitulation one year after $150 billion market peak
Daily memecoin volume slumped to just under $5 billion this month after surging more than 760% to near $87 billion in 2024 as interest in the pop-culture crypto tokens evaporated.
What to know:
- Memecoins, valued at $150 billion at the end of 2024, slid to just over $47 billion by November.
- Dogecoin and a few other tokens make up more than half of the current memecoin market capitalization.
- Interest in memecoins plummeted more than 80% in 2025, with trading volumes and engagement dropping significantly.
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