Market overview: The cryptocurrency market undergoes correction as BTC dips to $102K

CryptoRank, a research and analytic firm, believes that the cryptocurrency market is cooling off after Bitcoin and other cryptocurrencies began undergoing a correction. Bitcoin dropped to $102K, and Solana experienced 8% volatility after the recent SOL ETF news.

The SOL market eagerly awaits the regulatory green light for Solana ETFs after the U.S. Securities and Exchange Commission (SEC) a year after the regulator approved spot exchange-traded funds for Bitcoin. The TRUMP memecoin on Solana also pushed SOL’s price near the $300 mark. Solana is currently exchanging hands at $247 at the time of publication.

Cryptocurrency market cools off after correction  

📉Market Overview

The market is undergoing a correction to cool off. $BTC has dipped to $102K, while $SOL experienced 8% volatility amid ETF news.

Today, all eyes are on the $ANIME airdrop and its listing across major CEXs.

Market Cap: $3.70T (-3.02%)
BTC dominance: 54.68%… pic.twitter.com/GveiF3NWXQ

— CryptoRank.io (@CryptoRank_io) January 23, 2025

The global cryptocurrency market cap is down to $3.7T, a 3.02% drop from yesterday. Bitcoin’s dominance also dropped to 58.68%, a 0.07% 24-hour drop. The Fear and Greed Index rose to 75 greed in the market.

Small-cap gainers included BABYSHARK, which rose 100%. TRON also gained 72.4% from yesterday. MEMDEX100 (MEMDEX) increased in price by 60.1%, while KIP Protocol (KIP) and Dotcom (Y2K) increased by 56.8% and 44.7%, respectively, in the past 24 hours.

Ultima (ULTIMA) is one of the large-cap gainers in the last 24 hours, with a realized 29.2% gain in price, reaching $13,970. POPCAT’s price also gained 10.1% to reach $0.573. Chintai (CHEX) is another large-cap gainer that saw an 8.32% rise in price and is currently trading at $0.523.

GateToken (GT) also surged in price by 5.31%, while Pudgy Penguins (PENGU) rose by 4.39%. At the time of publication, GT was trading at $22.90, while PENGU was trading at $0.025.

Bitcoin’s price plummeted by 3% in the last 7 days and is currently trading at $102,200 at the time of publication.

World Liberty Financial spent $9.84M to buy 94.94 WBTC in the past two hours amid the price dip in the cryptocurrency market. The Trump-linked Fund has invested $56.82M in 534.1 WBTC in the past 3 days, at an average price of $106,379, now down $1.74M (-3%).

In the same period, the fund has also spent a total of $178.2M on 6 tokens, including ETH, WBTC, TRX, AAVE, LINK, and ENA.

Crypto markets eye ANIME token airdrop and listing on CEXs

CryptoRank highlighted that as the markets cooled off, all eyes were on the ANIME airdrop and its listing across major centralized exchanges. The Animecoin community token ANIME revealed it will debut today in a number of major exchanges, including Binance, Bybit and OKX.

ANIME, named after the Japanese pop culture phenomenon, also revealed it will be airdropped to BNB holders subscribed to the BNB Simple Earn products from Jan. 17 until Jan. 20.

“The Animecoin ecosystem will provide a collaborative environment to democratize content creation. The Azuki IP will be the first of many anime IPs providing the cultural energy that drives engagement across the blockchain-powered anime network.”

–ANIME on X

Binance announced that ANIME will be listed on its platform today at 14:00 UTC and will offer trading pair support alongside USDT, USDC, BNB, FDUSD, and TRY. The CEX also said it will add the seed tag to ANIME because it is a freshly launched token.

Binance revealed it will give away 500 million ANIME tokens for the HODLer Airdrop, which is around 5% of the maximum token supply. The cryptocurrency will launch on Ethereum and Arbitrum, with 50.5% of tokens allocated to the community and more than 20% to the team, advisors and company.

The token will be used as a gas and governance token for Animechain, its anime-based web3  network set to go live in the first quarter of 2025. The project is expected to introduce various anime-related content from original and third-party IPs, including games, merchandise, and NFTs.

The Animecoin Foundation also disclosed that it had prepared a total token supply of 10 billion ANIME tokens and an initial circulating supply of 7.69 billion ANIME.