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Bags Launchpad Activity Surges After GAS Token Soars 700%

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Bags Leaderboard screenshot

The Solana-based launchpad is gaining market share amid a resurgence in creator-linked coins.

Activity on Bags.fm, a Solana-based token launchpad, is spiking this week after the success of Gas Town’s token (GAS) drew traders to the platform.

Over the past 24 hours, several Bags.fm tokens posted significant gains: GAS surged 682%, Ralph Wiggum (RALPH) spiked 433%, Claude Memory (CMEM) climbed 543%, and Vibe Virtual Machine (VVM) gained 405%.

Meanwhile, Terraformation (TERRA) and RedwoodJS are up a whopping 84,000% and 31,000%, respectively, after launching earlier this morning.

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Bags Leaderboard screenshot
Bags Leaderboard

The momentum is making waves across the launchpad sector. On Jupiter’s launchpad leaderboard, Bags ranked second by market share over the past day, with roughly 33.5% share and $293 million in volume, behind pumpfun at 51.2% and $448 million.

Jupiter data also shows that Bags volume remained relatively muted through late December 2025 and early January, before jumping yesterday as GAS rallied.

How exactly is Bags different?

Bags markets itself as a way for creators, artists, and entrepreneurs to fund ideas by launching coins that anyone can trade, while earning a cut of trading activity as royalties.

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Gas Town, for example, is an open-source AI coding-agent orchestrator created by software engineer Steve Yegge. After the project gained traction online, a token linked to Gas Town (GAS) was launched on Bags, and trading activity quickly surged, Yegge explained in a Medium blog post.

As GAS trading picked up, it also generated large fee payouts for the account listed as the token’s “fee earner” (in this case, Yegge), which helped bring more attention to the Bags ecosystem.

The surge echoes recent “attention-driven” crypto cycles, where viral moments lead to sudden onchain revenue. Last year, onchain social platform Zora hit record daily revenue after Base-linked posts sparked a speculative frenzy, even as other metrics, like active addresses and total value locked (TVL), were flat or down.

On its website, Bags says creators earn 1% of trading volume from their coin and can claim the fees after verifying the linked social account. It also encourages creators to build communities around their tokens, with holders benefiting if the coin grows.

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The Bags team did not immediately respond to The Defiant’s request for comment.

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Crypto World

Tether Invests $150M in Gold.com to expand gold tokenization

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Tether Invests $150M in Gold.com to expand gold tokenization

The investment arm of stablecoin issuer Tether has acquired a $150 million stake in the precious metals platform Gold.com to expand access to tokenized gold.

Tether said on Thursday that it acquired an approximately 12% stake in the company, which will integrate Tether Gold (XAUt), its gold-backed cryptocurrency, into Gold.com’s platform.

Source: Tether

Gold.com is a publicly listed online marketplace that sells gold and other precious metals, such as silver and platinum, to several markets, including the US.

“Gold has played a central role in preserving value for centuries, particularly during periods of monetary stress and geopolitical uncertainty,” said Tether CEO Paolo Ardoino. “Gold exposure is not a trade for Tether; it is a hedge and a long-term allocation to protect our user base and ourselves in a world that is becoming increasingly unstable.”

He added the company’s investment in Gold.com “reflects a long-term belief that gold should be as accessible, transferable, and usable as modern digital money, without compromising on physical backing or ownership.”

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Tether explores stablecoin payments for gold

Tether and Gold.com are also exploring options to enable customers to purchase physical gold with Tether’s flagship stablecoin USDt (USDT) and its new stablecoin specifically for the US market, USAt (USAT), which it launched with crypto-native bank Anchorage Digital on Jan. 27.

Related: Bhutan makes second Bitcoin transfer in a week, worth $22M

Tether’s expanded gold offerings come as gold rallied more than 80% over the past 12 months to $5,600 on Jan. 29, before cooling off to $4,800 at the time of writing.