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Recently, a trader named "Bai Sheng War God" has attracted attention. He used 40x leverage to go long on 24.53 BTC, currently with an unrealized loss of $8,000. However, his trading history shows a profit of $34.87 million, with only 4 losing trades, demonstrating excellent risk management and timing of entries and exits. Although currently at a loss, the probability of a turnaround is high.

The Meme coin WhiteWhale on the Solana chain experienced a black swan event today, with its market capitalization plummeting from $50 million to nearly $20 million within just 5 minutes, a 60% decline. Large-scale sell-offs by major holders are the main cause of this phenomenon. Investors should exercise caution to avoid confusing it with similarly named tokens, and be aware of the rapid changes in risk and reward.

An address borrows 10 million USDT from Aave and transfers it to Binance. The address holds 626,778 Ethereum, with an unrealized profit of $53.52 million. The market speculates that it may be for additional positioning or strategic preparation. Large investors' actions indicate market sentiment.

The Hong Kong SAR Government plans to announce the "2026/2027 Financial Budget" on February 25, with a focus on virtual assets and investor protection. The industry calls for advancing the commercialization of virtual assets, strengthening the regulatory framework and liquidity, improving product approval efficiency, and cultivating professional talent, in order to establish Hong Kong as a global virtual asset hub.

An on-chain trader increased their short positions when Bitcoin declined, shorting 510 BTC and 31,093 ETH, with a total short position of $200 million. Although some positions are floating with unrealized gains, the liquidation price is close, and a rebound poses a significant risk of liquidation.

Penguin Coin PENGU surged to $0.013 at the beginning of the year, but due to traders taking profits, the price fell below $0.011, triggering stop-losses. The partnership with Manchester City failed to sustain enthusiasm, and a "sell the news" phenomenon appeared in the market. Future price movements within the $0.010-$0.012 range will determine the trend.

The regulatory outlook for the crypto market is once again tense, as a compliant platform withdraws support for the crypto bill, causing progress to stall. The White House and committees are pressuring to resolve issues related to stablecoins and banking services. Former President threatens to sue financial institutions, reflecting the complex relationship between the crypto industry and traditional finance, with the regulatory framework becoming increasingly complicated.

Recently, a major institutional wallet transferred out 13,000 ETH, worth approximately $41.75 million, of which 6,500 ETH have been moved into cold wallets of multiple exchanges. This move may indicate a portfolio adjustment or liquidity preparation by a large institution, and the market is closely watching this development.

The Genius project invested by YZi Labs will launch an on-chain trading terminal that combines the speed and liquidity of centralized exchanges, protects user privacy, and allows for self-custody of assets. The core feature of the project is "Ghost Orders," enabling large traders to execute complex strategies across multiple addresses while ensuring on-chain audit transparency. The new funding will support privacy protocol development, with plans to launch public testing by the end of 2026 and expand to multiple public blockchains. If technically feasible, it will become a new choice for large-volume traders.

An institution pays traders over $18 million, indicating the crypto market's demand for transparent operations. Through a reserve proof model, the company demonstrates fund transparency, combined with scalable infrastructure to handle market fluctuations, setting industry standards and emphasizing the importance of trust and stability.

XRP bulls have recently performed strongly, with short positions being squeezed to high levels, and the price breaking through $1.98. A major exchange adjusted its liquidity management and canceled 22 trading pairs. Meanwhile, Ripple's supporting lawyer criticized the CEO of a compliance platform, highlighting industry disagreements and tensions regarding regulatory policies.

Last Friday, Ethereum set a new record with 2.88 million transactions, indicating a significant increase in on-chain activity. However, the average transaction fee remained low, demonstrating the effectiveness of scaling solutions. Additionally, the validator exit queue was cleared, and ETH withdrawals became swift, reflecting healthy and stable ecosystem development.

Decred (DCR) has recently performed well, with an intraday increase of over 17%. The rise is mainly driven by tight supply and technical breakout. DCR price has steadily risen from $20, with the short-term key at $22. If it holds, it may further approach $30 or $50; otherwise, it will revert to consolidation. The future trend depends on supply conditions and the strength of the technical rebound.

A top whale address bought 214 PAXG tokens on the gold-backed token PAXG with 10x leverage, valued at approximately $1 million. The average entry price was $4,628.43, and it is currently in a floating profit, indicating a strong bullish outlook on gold prices.

A seasoned trader closed two large positions within a short period, earning a total profit of approximately $874,000, demonstrating an aggressive trading style and a reassessment of the market rhythm, possibly preparing for a new strategy.

Ethereum co-founder Vitalik believes that the development of DAOs has deviated from their original purpose, and that the "token voting" mechanism is inefficient and easily manipulated. He emphasizes that DAOs still have value, especially in areas such as oracles and dispute arbitration, and proposes protecting privacy through ZK technology and introducing AI to alleviate governance fatigue. Vitalik believes that future DAOs should focus on communication layers and consensus tools, rather than just voting mechanisms, to achieve true decentralized governance.

A certain digital asset trading platform plans to enter the European market in 2026, responding to the mature local financial infrastructure and growing demand for cryptocurrencies. The platform adopts a prudent expansion strategy, focusing on localized marketing and building user trust, aiming to provide a better trading experience for European users.

The Meme coin "1" on the BSC chain experienced a counter-trend rebound on January 19, with its market capitalization soaring from $4.5 million to a peak of $9.7 million, an increase of over 100%. Although the price subsequently pulled back, it still remained around $9 million. Investors should be cautious of the high-risk nature of Meme coins.

Recent on-chain data shows that several major whale addresses are frequently adjusting their holdings in mainstream cryptocurrencies like BTC and ETH, intensifying the battle between bullish and bearish forces. Some addresses are in a wait-and-see mode, while others are cutting losses or aggressively bottom-fishing, reflecting differing market opinions on short-term trends and indicating potential upcoming changes.

Bitcoin price undergoes short-term correction, dropping below $92,000 on January 19, leading to a decline in market risk sentiment. Most altcoins retrace, with SENT and RVV experiencing significant drops. Overall performance indicates that the market remains cautious about Bitcoin's short-term trend, with small-cap coins showing noticeable volatility due to low liquidity. Future focus should be on whether Bitcoin can stabilize.