Gate Institute: BTC short-term trend turns stronger | JELLYJELLY 24-hour increase exceeds 38%

Cryptocurrency Market Overview

• BTC (1.64% | Current price 91,989 USDT): BTC price quickly surged after ending sideways consolidation in the past 24 hours, with volume-driven upward movement, reaching near $92,000, showing a clear bullish trend in the short term. The short-term moving averages MA5 and MA10 have turned upward and formed a bullish alignment, with the price firmly above MA30, indicating bullish momentum dominance. Trading volume significantly increased during the breakout phase, suggesting enhanced capital-driven strength. In the short term, if the price can stay above the $90,000 support, the upward trend may continue; however, after a rapid rise, short-term indicators are already high, so caution is advised regarding profit-taking at high levels. A pullback below $90,000 with decreasing volume could lead to a technical correction. The overall trend remains bullish, and reckless chasing is not recommended.
• ETH (0.74% | Current price 3,248 USDT): ETH price surged initially and then retraced over the past 24 hours, showing a high-level oscillation pattern. It previously rose to around $3,440 but failed to stabilize, with noticeable profit-taking at the high. Currently, the price has returned to around $3,240, with short-term moving averages MA5 and MA10 flattening, and the price oscillating around MA30, indicating a temporary balance between bulls and bears. From a short-term perspective, the $3,300–3,350 area still faces some resistance; if not broken with volume, the price may continue to digest previous gains through consolidation. Support levels are at $3,180–3,200; a breakdown with increased volume could lead to further short-term decline. The overall trend remains in a rebound correction phase, and short-term trading should focus on breakout directions to avoid frequent chasing in sideways movement.
• Altcoins: Most mainstream altcoins maintained slight gains, with market sentiment mainly neutral or bullish. The Fear and Greed Index today reports 29, still in the fear zone, indicating that market sentiment has yet to recover.
• Macro: On December 11, the S&P 500 index rose 0.21% to 6,901.00 points; the Dow Jones Industrial Average increased 1.34% to 48,704.01 points; the NASDAQ index declined 0.25% to 23,593.86 points. As of 12:30 PM UTC+8 on December 12, spot gold is temporarily priced at $4,270 per ounce, down 0.21% over 24 hours.

Hot Tokens in the Market

( Light Light (+41.61%, Market Cap $50.46 million)

According to Gate data, the current price of LIGHT token is $1.17, up 41.61% over the past 24 hours. Bitlight Labs is a Bitcoin and Lightning Network infrastructure company, and a major contributor to the RGB protocol. The company is dedicated to enabling native smart contracts and stablecoin transactions on Bitcoin and Lightning Network. They develop core code for Lightning and RGB protocols, along with developer tools and applications, aiming to provide scalable sovereign asset solutions on the world’s most secure decentralized network.

The recent surge is driven mainly by macro and micro factors: macro-wise, the advancement of staking ETFs and clearer regulations bring long-term benefits to liquidity staking; micro-wise, the market buzz around LIGHT repurchase plans could be a direct short-term price driver. The buyback expectation has led to a re-evaluation of the token’s value, accelerating capital inflows.

JELLYJELLY Jelly-my-jelly (+38.32%, Market Cap $68.6 million)

According to Gate data, JELLYJELLY token is currently priced at $0.0677, up approximately 38.32% in 24 hours. JELLYJELLY is a community-driven, lightweight application-focused crypto project emphasizing low entry barriers and high engagement tokenomics. The project enhances user activity through social promotion, community incentives, and gameplay design. Its tokens are mainly used for community rewards, ecosystem participation, and governance, positioning itself as a sentiment- and traffic-driven Web3 community token.

This rally is mainly driven by market sentiment and capital: on one hand, the recent market warming has led funds to shift toward high-elasticity small-cap tokens; on the other hand, JELLYJELLY experienced rapid volume increase after breaking out of earlier consolidation, attracting short-term funds and emotional trading, accelerating the price rise. Overall, this surge is sentiment- and fund-driven; sustained momentum depends on trading volume and community enthusiasm.

TROLL TROLL (+31.13%, Market Cap $40.55 million)

According to Gate data, TROLL token is currently priced at $0.0404, up about 31.13% in 24 hours. TROLL token on Solana is a meme coin inspired by internet humor, aiming to provide entertainment and boost community engagement without intrinsic value. Built on Solana blockchain, it leverages fast transactions and low fees to attract meme enthusiasts. Initially launched on decentralized exchanges, TROLL aims to create a fun, community-driven ecosystem through social media promotion, influencer collaborations, and viral marketing, embodying the humorous spirit of internet memes.

The recent 24-hour rise was mainly driven by sentiment and capital: on one hand, the meme sector’s overall activity increased, risk appetite rose, and high-elasticity tokens rotated; on the other hand, TROLL experienced volume surges after a consolidation at low levels, breaking short-term resistance and attracting quick inflows from short-term traders, sentiment traders, and follow-the-leader transactions. This rally is largely driven by emotional catalysts and technical breakthroughs; sustainability depends on continued volume and overall market enthusiasm.

Alpha Insights

JPMorgan launches USCP token on Solana to facilitate milestone on-chain debt issuance for Galaxy

JPMorgan recently created and launched the USCP token on the Solana blockchain to help Galaxy Digital complete its first commercial paper issuance. This is one of the first institutional-grade debt issuances executed on a public blockchain, marking the debut of USCP, a short-term corporate debt token. Both issuance and redemption were carried out using Circle’s USDC stablecoin, further validating blockchain’s viability in capital markets.

USCP represents tokenized short-term corporate debt issued by Galaxy, built on Solana by JPMorgan. JPMorgan states that this transaction demonstrates institutional demand for digital assets and on-chain financial instruments, and shows the maturity of public blockchains in security and efficiency. Galaxy’s management believes bringing commercial paper onto the chain can improve short-term financing efficiency and attract more institutional investors to incorporate blockchain-based money market tools, providing a demonstration case for future institutional-grade financial products issuance on-chain.

Blockstream plans to acquire TradFi hedge fund Corbiere Capital to expand institutional investment footprint

Crypto investment firm Blockstream Capital Partners announced plans to acquire Jersey-based traditional hedge fund Corbiere Capital Management, with the deal amount undisclosed. This acquisition will integrate Corbiere’s core stock and event-driven investment strategies into Blockstream’s newly established asset management division, Blockstream Capital Management, creating a multi-strategy institutional investment platform and further enriching its Bitcoin-centric product ecosystem.

According to disclosures, founder Rodrigo Rodriguez will serve as CIO of Blockstream Capital Management, responsible for integrating traditional securities and Bitcoin-related investment strategies. Rodriguez has over 25 years of experience in stock and event-driven investments, previously working at JPMorgan, Credit Suisse, and BlueCrest. Blockstream’s portfolio company Komainu, a digital asset custodian, will provide custody, exchange connectivity, and OTC collateral management services for related strategies. Blockstream states that this acquisition reflects its long-term strategy of combining traditional financial expertise with Bitcoin infrastructure to build an institutional-grade Bitcoin reference investment platform.

El Salvador teams up with Elon Musk’s xAI to roll out nationwide Grok AI education program

The Salvadoran government announced a collaboration with Elon Musk’s xAI to introduce the Grok AI system nationwide, aiming to create the world’s first national-level AI-driven public education system. Over the next two years, the project will cover more than 5,000 public schools, benefiting over 1 million students and thousands of teachers, marking a significant step in the country’s digitalization of education and AI application.

Official reports state that Grok will serve as a digital tutor, providing personalized teaching based on students’ progress and abilities, aligned with the national curriculum to ensure resource equity across urban and rural areas. The project will also develop new AI datasets and frameworks tailored for education, emphasizing localization, security, and responsible use. President Nayib Bukele stated that El Salvador is leading in AI-driven educational innovation, and Musk said the country is proactively building a future education model rather than passively waiting for technological change.
References:

• 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(
• Farside Investors, [https://farside.co.uk/eth/])https://farside.co.uk/eth/(
• Gate, [https://www.gate.com/trade/GT_USDT])https://www.gate.com/trade/GT_USDT(
• Gate, [https://www.gate.com/price])https://www.gate.com/price(
• The Block, [https://www.theblock.co/post/382250/jpmorgan-creates-solana-based-uscp-token-to-facilitate-landmark-galaxy-debt-offering])https://www.theblock.co/post/382250/jpmorgan-creates-solana-based-uscp-token-to-facilitate-landmark-galaxy-debt-offering(
• Coindesk, [https://www.coindesk.com/tech/2025/12/11/el-salvador-partners-with-elon-musk-s-grok-in-ai-powered-education-for-1m-students])https://www.coindesk.com/tech/2025/12/11/el-salvador-partners-with-elon-musk-s-grok-in-ai-powered-education-for-1m-students(

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