TokenSherpa

Currently, the top 30 long whale holdings are all in floating loss, with the largest whale holding experiencing a floating loss of $21.3 million and facing liquidation risk. Another whale has also suffered significant floating losses, with the address at the highest risk being only 2.87% away from liquidation. This situation indicates that market risk has significantly increased.

Recent on-chain data shows that two whale wallets are adopting completely different strategies in the ETH market. One large whale wallet is bullish, transferring in $6.39 million USDC and opening a $31.18 million ETH long position with 12x leverage; the other is bearish, injecting $3 million USDC and opening a $11.96 million ETH short position with 4x leverage, indicating a complex market sentiment.

Ethereum's recent rebound has attracted attention, with technical signals and on-chain data supporting its potential to continue. There is a phenomenon in the market where ETH bullish options are being sold while spot buying persists, indicating that participants are taking disciplined actions and making steady arrangements. The buying is mainly driven by spot demand, and the rebound foundation is solid, not just short-term speculation.

An on-chain trading expert flexibly adjusted their short-selling strategy during a declining market, turning a $3 million principal into $10 million, and currently holding $250 million in short positions, with significant unrealized gains especially in BTC and ETH. This strategy is worth paying attention to, but leverage risks should also be approached with caution.

On January 20th, a trader closed 242 BTC on-chain, incurring a loss of $1,042,000, and immediately went long on XYZ100 with 20x leverage, showing optimism about the future of tech stocks.

Ethereum network activity has surged to 2.7 million new addresses, with daily transaction volumes exceeding 2.5 million. However, there is a hidden risk of address poisoning attacks behind this growth. The significant drop in fees has reduced the cost of spam attacks, resulting in over 116 victims losing more than $740,000. This phenomenon reflects the contradiction between increased usability due to lower transaction fees and the reduced cost of attacks.

【BitPush】LayerZero's official account recently posted a statement that exudes a sense of certainty—indicating that some concepts may seem distant but will eventually be valued by the world. This highly confident statement, combined with the timeline hint, suggests that a major announcement may be made on February 10th. As a leading protocol focused on cross-chain interoperability, every major move by LayerZero tends to impact the market nerves. Is this an ecosystem upgrade, a new feature release, or another strategic deployment? Stay tuned for updates.

【Blockchain Rhythm】 A major exchange officially announced that on January 20, 2026, at 08:00:00 (UTC), its margin trading feature will officially open for BTC/USD and LTC/USD trading pairs. This means users can participate in leveraged trading of these two mainstream cryptocurrencies through the margin mechanism. BTC, as the market leader, and LTC, as a traditional mainstream coin, are both popular varieties for margin trading. The launch of new trading pairs provides more operational space for hedging traders and professional traders. Users interested in participating in margin trading can prepare in advance.

Institutions' enthusiasm for Bitcoin investment remains unchanged. Last year, US custodial wallets added 577,000 BTC, indicating continuous large-scale investment and reflecting stable institutional confidence.

Platform X has improved the average active duration significantly by optimizing the user interest matching mechanism and adjusting the new user recommendation logic. This has solved the cold start problem for new accounts, increased user stickiness, and brought positive effects to platform growth.

The probability of the Federal Reserve cutting interest rates in January is only 5%, with expectations to keep the current rates unchanged. By March, the probability of a 25 basis point cut rises to 20.7%, but the chance of no change remains high at 78.4%. Overall, there is a strong expectation of maintaining an hawkish stance in the short term, and the crypto market should exercise caution.

Zama Mainnet Staking Function Launch, ZAMA Token Features a Deflationary Mechanism and Dual Roles. Users can earn rewards through staking. The incentive distribution is uneven, with FHE and KMS nodes receiving 40% and 60% of the rewards respectively, promoting ecosystem participation and liquidity management.

Magic Eden officially announced that starting February 1st, 15% of revenue will be invested into the ME token ecosystem, divided equally to be used for ME token buybacks and USDC rewards for ME stakers. The new mechanism will replace the old buyback plan, allowing stakers to claim USDC monthly, but they should note the 90-day claiming period. This initiative aims to incentivize long-term holding and staking users to share in the platform's growth benefits.

Paradex experienced a system outage on January 19 due to database maintenance, resulting in abnormal BTC price dropping to zero and users facing forced liquidation. The official quickly released a rollback plan to restore the chain to its normal state and ensure user account recovery. The event was handled properly, preventing greater losses.

XRP price drops 4.1% to $1.97, but trading volume soars 158% to $3.62 billion, reflecting market concerns about the price. Recently, XRP has been continuously declining. If the downward trend continues, new support levels need to be found. Selling pressure has increased, and the total crypto liquidation amount approaches $878 million.

A recent project explores distributed edge computing, utilizing lightweight devices and centralized scheduling to build a widespread computing network for flexible AI computing power allocation. The project will use PAI tokens for payments and is expected to be listed on exchanges by 2026.

Last week, the digital asset investment market saw a capital inflow of $2.17 billion, marking the largest weekly inflow. However, on Friday, due to international geopolitical developments and uncertainties surrounding the Federal Reserve Chair nomination, market sentiment reversed, resulting in a capital outflow of $378 million. The United States attracted the majority of the funds, with Bitcoin leading the gains, recording a weekly inflow of $1.55 billion. Despite uncertainties, Ethereum and Solana continued to perform well.

【BlockBeats】There is an interesting trading data point. On the prediction market Polymarket, a trader with the ID "Annica" has recently attracted attention. After reviewing the trading records, this individual has been active since August last year, participating in 1,265 predictions, with a high concentration on Elon Musk-related topics. As of the time of writing, the total net profit has exceeded $270,000, with the largest single profit reaching $91,600. This trading frequency and focus are quite intense. It shows that in the prediction market, there are still many professional players making precise bets on hot events.

Major institutions hold over 4,167,000 ETH, accounting for 3.4% of the circulating supply, sparking market concerns about ETH's scarcity. Despite bullish fundamentals and technicals, ETH has declined approximately 4% in the short term, breaking below $3,200, indicating that market pressure has shattered optimistic expectations.

【Blockchain Rhythm】On the afternoon of January 19th, a whale's operation drew attention. The trader known as "Lightning Reverse" decisively closed a short position of 10,871.77 ETH at 15:52, earning a profit of $1.085 million. However, after earning trading fees, the whale did not rest but immediately turned bullish, establishing a long position of 34.21 BTC with 20x leverage. Currently, this BTC long position is temporarily floating at a loss of $47,000, and its future trend remains to be seen.