[비즈한국] This report summarizes the market performance and trends of the top 100 cryptocurrencies by market capitalization over the past week. We provide comprehensive insights, covering major assets like Bitcoin and Ethereum, key developments in the altcoin market, and global policy variables. We make the volatile cryptocurrency market as easy and fun to understand as watching Netflix.
According to CoinMarketCap, a global cryptocurrency market tracking site, Hyperliquid led the crypto market with a weekly gain of 30.94% between 11:57 AM on January 23 and 11:57 AM on January 30. Hyperliquid’s current price is 40,833 KRW, and it has fallen 12.11% in the last 24 hours. Hyperliquid is the native token of the derivative-focused on-chain exchange 'Hyperliquid Perpetual DEX.' The core of its structure allows for 24/7 on-chain trading of derivatives like futures and options, while using the platform's own stablecoin, USDH, as collateral to support leveraged trading and fee payments.
Stable ranked second with a weekly gain of 30.81%. Stable’s current price is 36 KRW, down 15.46% in the last 24 hours. Stable is the governance token for the Layer 1 blockchain 'Stablechain,' developed by Tether/Bitfinex affiliates. Network fees are paid exclusively in USDT, while STABLE serves as an 'adjustment token' for validator staking, governance voting, and ecosystem incentives. It aims to become a dedicated payment network for stablecoins, optimized for overseas remittances and retail payments by increasing transactions per second.
Canton Network ranked third with a 20.15% gain. Its current price is 250 KRW, up 7.27% in the last 24 hours. Canton Network is an 'institutional blockchain network' led by Digital Asset. It features selective transparency—sharing transaction data only with necessary participants—and regulatory compliance capabilities. It is designed to tokenize, settle, and clear traditional financial products like bonds, stocks, and funds on a single on-chain infrastructure.
Pump.fun ranked fourth with a weekly gain of 8.29%. Its current price is 3.87 KRW, down 10.39% in the last 24 hours. Pump.fun is a Solana-based memecoin issuance platform. Users can create tokens with a fixed supply of 1 billion in just a few clicks; tokens are then automatically placed on a 'bonding curve' (where prices increase with each purchase), providing liquidity immediately without the need for developer pre-allocations or complex liquidity pool setups, which has attracted many individual investors.
PAX Gold ranked fifth with a weekly gain of 5.82%, and its current price is 7,569,977 KRW. It fell 5.41% in the last 24 hours. PAX Gold (PAXG) is a tokenized gold product where 1 token is pegged to 1 troy ounce of physical gold stored in London vaults. It allows investors to capture real-time gains and losses linked to gold prices simply by trading tokens on exchanges or DeFi wallets, effectively serving as 'on-chain spot gold.'
Tether Gold rose 5.62% and is trading at 7,534,300 KRW. LEO is up 4.02% to 13,302 KRW. Morpho rose 0.19% to 1,732 KRW.
The recent rally in Hyperliquid was clearly driven by adjustments to its tokenomics regarding the team's token distribution plan. Hyperliquid announced that starting January 2026, it would significantly reduce the monthly team token allocation from 1.2 million to approximately 140,000, promising to manage the supply at levels lower than market concerns. This move eased potential selling pressure, which is credited for the price increase.
Stable's recent upward trend was directly catalyzed by the re-emergence of its roadmap, which includes the full-scale introduction of cross-chain bridges and validator governance on Stablechain in Q1 2026. In particular, with the announced launch of a bridge connecting payments and remittances to other chains using a USDT-based fee structure, the prevailing market analysis is that 'if Stable expands as a hub for stablecoin payment infrastructure, the demand for STABLE token governance and staking will increase accordingly.'
Canton Network is gaining attention following a $135 million investment round involving major financial institutions in the U.S. and Europe, alongside renewed interest in its on-chain experiments—processing real bond trades like U.S. Treasuries and repos 24/7, including weekends. As this investment round, involving major investment banks and brokerage firms, is interpreted as a signal that 'asset tokenization infrastructure meeting regulatory requirements has already entered the operational stage,' the market is increasingly viewing Canton Network as a leading platform for the migration of Real World Assets (RWA) to the on-chain environment.
The market trend across the top 10 coins this week shows a clear shift of capital toward 'on-chain infrastructure with tangible asset backing and clear revenue structures.' As gold prices exceeded $5,500 (approx. 7.89 million KRW) per ounce (28g), funds flowed simultaneously into tokenized gold like PAX Gold and Tether Gold; payment and asset tokenization infrastructure like Stablechain and Canton Network; and DeFi yield assets like Hyperliquid and Morpho. This suggests a strengthened move to diversify risk into assets with clear interest, collateral, or spot-linked structures rather than speculative themes.
※ This article was written by Bizhankook and MetaVX's generative AI.