TokenomicsTrapper

Korbit, a veteran exchange in South Korea, was fined nearly $2 million by the financial intelligence agency due to anti-money laundering issues and is facing rectification pressure. Currently, the daily trading volume has dropped significantly, with a market share of only 0.5%. Additionally, Future Asset plans to acquire Korbit, with the purchase price ranging from $68 million to $95 million, facing numerous challenges ahead.

Recently, a team open-sourced the tool "electron-webauthn-mac," aimed at providing convenience for Electron application developers on macOS. It integrates features such as Touch ID and iCloud Keychain, simplifying the development process of WebAuthn and password management, and enhancing security and usability.

Market expectations for the Federal Reserve's interest rate trajectory have changed, with only a 5% chance of a 25 basis point rate cut in January, and a 95% chance of holding rates steady. In the future, crypto asset investors will face liquidity shortages, and funds will be more inclined toward traditional financial assets.

【Crypto World】U.S. inflation remains stubborn — December CPI up 2.7% YoY, 0.3% MoM. It seems moderate, but analysts say "we still need to keep an eye on it." This figure directly impacts the sentiment across the entire crypto space.
In plain terms, moderate inflation means the Federal Reserve has no reason to rush into large rate cuts. The market now expects only a 50 basis point cut this year, far below previous optimistic estimates. This "wait-and-see" attitude is indeed a limiting factor for short-term leveraged trading. Without unexpected downward shocks, the market lacks the motivation to "go all in."
But there’s a silver lining. Mild deflation actually supports a weaker dollar, giving risk assets like Bitcoin room to rise. In other words, the price increase isn’t because the market is crazy, but because the dollar has depreciated relative to other assets.
From a trading perspective, the market is now more focused on "data-driven" strategies, and

【Blockchain Rhythm】On-chain data shows that in the early hours of January 13, Selini Capital withdrew 500,000 HYPE tokens from a major exchange within approximately 16 hours, equivalent to about $12.1 million. This fund was then quickly staked into the HyperCore ecosystem, with only about a 6-hour interval from withdrawal to staking. This whale operation reflects institutional confidence in the HYPE project and also indicates that the HyperCore ecosystem is attracting institutional-level capital inflows.

The latest weekly report of the JustLend DAO in the TRON ecosystem shows that the total locked value on the platform has surpassed $6.92 billion, with deposits of $4.15 billion and loans of $215 million, reflecting the stability of the on-chain lending market and user recognition of its risk control system. This performance demonstrates the importance of DeFi lending to the overall activity of the TRON ecosystem.

Market expectations for December CPI data are influencing the trend of cryptocurrencies, with multiple institutions predicting the unadjusted CPI year-over-year rate to be between 2.5% and 2.9%. If inflation data remains sticky, it could intensify concerns about the Federal Reserve slowing down interest rate cuts; if the data is moderate, it may benefit the crypto market.

A whale address has recently been frequently buying BTC, investing approximately $2.3 million, and currently holds 155 BTC, with an unrealized profit of $205,800. The same address is also engaging in high-leverage long positions on PEPE and SOL, with a total scale of $15.8 million, which carries high risk. Potential chain liquidation risks should be monitored.

【ChainWen】There's an interesting whale address that has recently caused quite a stir on the chain. This "on-chain stock investor" (0xfc66) suddenly shifted tactics, starting to aggressively add to short positions in PAXG (on-chain gold), with 5x leverage, and has now become the largest short player in PAXG. Not only that, they have also opened 18 stock short positions on Hyperliquid, with positions in major companies like Oracle (ORCL), Palantir (PLTR), and Amazon (AMZN) being particularly large and intimidating.
Interestingly, this address had been active in the crypto market before, mainly trading contracts with 20x leverage—shorting ETH, BTC, and SOL. But starting from January 8, they began to reduce these short positions, shrinking from a scale of $45.6 million down to $17.6 million. Clearly, they are adjusting their strategy.
What is their current layout? Stock futures

Grayscale's latest asset valuation has expanded to include 36 digital assets, covering multiple areas such as smart contracts and DeFi. While being listed on the review list does not necessarily mean they will be included in products, it indicates that Grayscale is evaluating their investment potential. Investors should conduct independent research.

The draft legislation on the structure of the crypto market released by the U.S. Senate aims to establish a clear regulatory framework for digital assets, clarifying the regulatory authorities and standards for different types of assets, promoting the standardized management of the crypto market, and potentially bringing compliance costs and development foundations for market participants.

Senators Cynthia Lummis and Ron Wyden reintroduced a blockchain regulation bill aimed at clarifying the legal status of developers and financial institutions. The bill distinguishes between developers who only write code and institutions that control user funds, emphasizing that the latter should not be treated equally. This is of significant importance to the Web3 ecosystem.

【Blockchain Rhythm】 The performance of Bitcoin over the past week has been quite interesting. Last Monday, Bitcoin briefly surged above $92,000, mainly influenced by the U.S. Department of Justice's investigation into Federal Reserve officials, which temporarily sparked concerns about the Fed's independence. Such uncertainties usually increase the appeal of alternative assets like Bitcoin, at least logically.
But the reality is that this rally didn't last long. Traders' enthusiasm was clearly low, and the reason is straightforward—Bitcoin spot ETFs have net outflows of $1.38 billion over the past four trading days. This figure indicates that institutional investors are watching and even reducing their holdings.
More noteworthy is the basis data. Currently, the annualized premium of Bitcoin futures remains stable at around 5%, a neutral to slightly bearish level. When a true bull market arrives, the futures premium relative to spot usually exceeds 10%. This level suggests that the market is still somewhat cautious.

The privacy application SHDW on the Solana chain was recently exposed to have serious flaws, with transfer records failing to maintain privacy and difficulties in fund withdrawals. Although the official denies the issue and claims everything is normal, the lack of effective support and credible explanations raises concerns among users and warns investors participating in the Solana ecosystem.

【Crypto World】Market Observation: In this cycle, tokens across different sectors exhibit differentiated performance.
Stablecoins and yield-generating tokens: ENA's token unlock schedule and buyback mechanism create a tug-of-war, with price volatility being apparent but with relatively strong resilience. STX, backed by the imagination of Bitcoin-native revenue infrastructure, sees continuous growth in locked-in value, providing strong long-term support.
Ecosystem expansion: PENGU continues to attract speculative capital through cross-industry brand collaborations and increased retail penetration. SUI is gradually establishing itself as a leading Asian Layer-1 by leveraging well-known institutional partnerships, token buybacks, and ecosystem expansion.
Trading and computation: RAY benefits from record-breaking trading volume within its DEX ecosystem and exchange listings, boosting institutional recognition. RENDER attracts significant funding due to surging decentralized AI computing demand and ecosystem iterations. TAO, through channels like Grayscale, opens institutional access,

The U.S. Congress has been active in cryptocurrency regulation, with Cynthia Lummis proposing the "Blockchain Regulatory Certainty Act" aimed at reducing developers' burdens, but it was criticized by Ron Widen. Additionally, the "Clear Act" has been postponed for review until January, sparking optimistic market expectations. Analysts believe that if passed, it could become a catalyst for a bull market.

Recent on-chain data disclosure shows a large transfer of 73 million XRP, valued at approximately $150 million, from one mysterious wallet to another. Such transactions have attracted market attention and may involve institutional adjustments or exchange asset transfers. XRP holders should stay alert to subsequent market developments.