OnChainDetective

Recent on-chain data shows that Bitcoin and Ethereum ETFs experienced significant net outflows on January 12, with approximately $339 million and $131 million flowing out, respectively. Meanwhile, Solana ETF defied the trend and rose within the month, with a single-day net inflow of about $5.09 million, indicating ongoing market interest in SOL.

Recently, the selling pace of long-term Bitcoin holders has noticeably slowed, and the extreme net outflow situation has eased. This indicates that the market is digesting the supply of holdings from long-term holders, selling pressure is gradually being absorbed, and the funding situation is healthy. The short-term selling pressure in the market has basically been released.

BitGo files for US IPO, planning to issue 11.8 million shares, with a price range of $15-17, and a maximum fundraising of $201 million. The stock will be listed under the ticker BTGO. This marks the maturity of crypto custody services and a shift in Wall Street's attitude, indicating that the industry is being reevaluated.

Recently, James Wynn launched a name-sake token WYNN, with a market capitalization of $2.77 million, mimicking the successful model of WhiteWhale. Although he previously publicly criticized the WhiteWhale operators, he now announced the promotion of his own coin and pledged profit buybacks, highlighting the complexity and chaos of the Meme coin market.

【BlockBeats】In the recent wave of market fluctuations, on-chain data shows that a heavyweight player is rapidly adjusting their positions. This address started building a position in December last year with an initial capital of approximately $20 million, gradually increasing their leveraged long positions on BTC and ETH with 20x leverage. Interestingly, this operational approach is completely opposite to those large listed companies that continuously increase their BTC holdings, leading the market to label it as an "on-chain counterparty."
But the situation changed suddenly. Due to a short-term correction in BTC, all seven mainstream cryptocurrencies held long positions in by this address have fallen below their average holding prices. Seeing the unfavorable situation, the address decisively took action—completely closing long positions in XRP and SOL, and gradually reducing other positions. In just a few days, the total liquidation amount exceeded $80 million, with total holdings shrinking from $351 million to $270 million.
The main positions still held are: BTC 20x long, 1,71

The U.S. Senate's review of cryptocurrency market regulation this week could have various impacts, including scenarios of bipartisan consensus or unilateral push, which will influence the price fluctuations of cryptocurrencies such as Bitcoin, Ethereum, Solana, XRP, and others. Market participants should closely monitor the developments.

XStable secures millions of dollars in funding, becoming the first decentralized trading engine on the Solana blockchain focused on precious metal perpetual contracts. The team has extensive exchange experience, and the funding will be used for protocol development and ecosystem expansion. The project aims to promote on-chain trading of high-value RWA assets, aligning with the goals of the Solana Solaris Accelerator.

Marvin Community announces the restart of the Marvin7055 project, a Meme token themed around Elon Musk's Havanese dog. After a year of preparation, the team is actively getting ready. The project is connected with the Puppies community, adding a new collaboration highlight and bringing new expectations to Meme coin enthusiasts.

【Crypto World】Just noticed a large Ethereum transaction surface. The trader bought 789.89 ETH at a price of $3,165 in one go, with a total transaction value approaching $2.5 million. Such large single transactions often attract market attention—whether institutions are accumulating or holders are adjusting their positions, the subsequent price movement may provide signals. For traders watching Ethereum trends, these large orders are usually worth paying attention to.

On January 12th, LISA tokens plummeted 80% after three large holders sold off $170,000 worth of tokens within 28 seconds. This incident exposed the underlying traps in the market, where the trading incentive mechanism actually exacerbated the crash during the sell-off. Small investors panicked and followed the trend, while large holders profited.

X Product Lead Nikita Bier unexpectedly displayed the Base token during a new feature showcase, with a market cap of $373 billion sparking community discussions. Everyone is speculating whether this indicates a token launch. The official Base team responded that they are still in the exploration stage but did not confirm or deny the information. The discussion is ongoing.

Recently, a social media platform plans to open-source its recommendation algorithm to improve transparency and update the code every four weeks. Technical experts have expressed support, but they noted that frequent updates may be overly optimistic and that absolute transparency must be achieved to address users' concerns about the algorithm.

The controversy over cryptocurrency donations in the UK political circle is intensifying, with several committee chairs calling on the government to ban such donations due to their undermining of political funding transparency and the risk of foreign interference. The Labour government is under pressure and considering a ban, but the reformist UK party has accepted crypto donations. This incident highlights the challenges traditional financial regulation faces in the Web3 era.

A leading exchange has called on the U.S. Congress to protect its stablecoin reward rights, indicating that if new crypto legislation imposes excessive regulation, support will be reconsidered. This reflects the ambiguity in stablecoin regulation, with exchanges and regulators harboring concerns. Exchanges want to maintain operational flexibility, while regulators focus on risks. Ultimately, Congress will need to weigh the issues.

Recently, Bitcoin broke through the 50-day moving average, and market demand has rebounded. Mainstream cryptocurrencies are also performing well, indicating a revival of investor enthusiasm. However, whether it can break through the 200-day moving average at $107,000 remains crucial. If it fails, it may retest the 200-week moving average at $60,000.

Recently, Asian funds in the blockchain market have been active, driving the rise of BTC prices, while American funds have not yet fully returned, resulting in insufficient market momentum. Similar to last year, this suggests that after American funds enter the market, it could trigger greater volatility, and it is worth paying attention to the rotation pattern of regional funds.