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Cryptocurrency exchange Backpack announced via its official X account that it will unlock 25% of its total supply at its upcoming Token Generation Event (TGE). Of this initial unlock, 24% will be allocated to points holders and 1% to holders of Mad Lads NFTs. Backpack CEO Armani Ferrante said the company will release its tokenomics in stages as the TGE approaches. He added that the token will be distinct from existing tokens in its distribution, utility, and functionality, suggesting it may even require a new name. The launch date for the token has not yet been disclosed.

Bitcoin has fallen out of the list of the top 10 largest assets by market capitalization amid its ongoing price decline, The Block analyst BR reported. The cryptocurrency is now ranked 11th, behind Saudi Aramco.

A whale address that had been dormant for two years swapped 699 ETH for $1.876 million in USDC and deposited the funds into Hyperliquid. The address then opened a 20x leveraged ETH long position valued at approximately $18 million, according to Onchain Lens.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $768 million liquidated (96.96% longs) - ETH: $417 million liquidated (93.7% longs) - XRP: $71.32 million liquidated (99.05% longs)

Binance founder Changpeng Zhao announced via X that he will host an Ask Me Anything (AMA) session later today to address what he described as FUD (Fear, Uncertainty, and Doubt) from self-proclaimed competitors. He stated that this is not the first such attack and likely will not be the last, adding that he will delve into the reasons behind the events of Oct. 10. Zhao emphasized that while competitors focus on Binance, the exchange will continue to grow. His comments are widely seen as a response to recent criticism from Star Xu, the founder of major global crypto exchange OKX. While not naming Binance or Zhao directly, Xu stated that the industry is underestimating the impact of the Oct. 10 market crash, which he claimed caused real and lasting damage. Xu argued that some industry leaders, instead of setting a positive example, are pursuing short-term profits by repeatedly using Ponzi-like schemes, promoting get-rich-quick narratives, and manipulating the prices of low-quality tokens to lure users. He warned that such practices erode trust and will ultimately harm the entire industry.

With BTC trading below $82,000, the next support level is at $81,000, which marks the low from last November, according to an analysis by CoinDesk. The report suggests that if this support level is breached, the next support zone is around the $75,000 mark. CoinDesk also noted that macroeconomic issues, such as U.S. President Donald Trump's expected nomination for the next Federal Reserve Chair, could lead to a period of increased short-term volatility.

South Korean crypto exchange Bithumb announced it will temporarily suspend deposits and withdrawals for Sei (SEI) starting at 9:00 a.m. UTC on Feb. 3 to support an upgrade to the Sei mainnet.

Major exchanges have seen $777 million worth of futures liquidated in the past hour. In the past 24 hours, $1,742 million worth of futures have been liquidated.

Major exchanges have seen $601 million worth of futures liquidated in the past hour. In the past 24 hours, $1,572 million worth of futures have been liquidated.

According to CoinNess market monitoring, BTC has fallen below $82,000. BTC is trading at $81,926.19 on the Binance USDT market.

Major exchanges have seen $172 million worth of futures liquidated in the past hour. In the past 24 hours, $1,138 million worth of futures have been liquidated.

According to CoinNess market monitoring, BTC has fallen below $83,000. BTC is trading at $82,880.07 on the Binance USDT market.

Kazakhstan's central bank plans to add Bitcoin confiscated from criminal proceeds to its national strategic reserves, DL News reported. The National Investment Corporation (NIC), an investment body under the central bank, will manage the stockpiling of confiscated cryptocurrencies alongside foreign currency and gold holdings. Approximately $350 million has been allocated for this purpose.

Former Federal Reserve Governor Kevin Warsh has an 81% chance of being nominated as the next Fed Chair, Watcher.Guru reported, as U.S. President Donald Trump is expected to announce his selection for the role tomorrow.

Story (IP), a blockchain-based intellectual property project, has postponed the token unlock for its early investors and team by six months, from February to August, The Korea Economic Daily reported. Pen Technology Inc., the developer of Story, recently informed major investors via email about the delay. The company cited the need to avoid the predictable selling behavior and unnecessary downward price pressure that often occurs ahead of token unlocks as the reason for the decision.

The U.S. Department of Justice announced it has secured legal title to more than $400 million in cryptocurrency, real estate, and financial assets connected to the cryptocurrency mixer Helix. The action follows the November 2024 sentencing of Helix founder Larry Harmon, who received a 36-month prison term and was ordered to forfeit the assets on charges of conspiracy to commit money laundering.

CoinMarketCap's Altcoin Season Index is currently at 32, unchanged from yesterday. The index is calculated by comparing the price performance of the top 100 coins by market capitalization, excluding stablecoins and wrapped tokens, against Bitcoin. An altcoin season is determined to be in effect if 75% of the top 100 coins have outperformed Bitcoin over the past 90 days. A score closer to 100 indicates a stronger altcoin season.

U.S. President Donald Trump will announce his nominee for the next Federal Reserve Chair tomorrow morning, Aggr News reported.

According to the crypto options exchange Deribit, Bitcoin options valued at $7.7 billion are set to expire at 8:00 a.m. UTC on Jan. 30. The contracts have a put/call ratio of 0.49 and a max pain price of $90,000, the level at which the largest number of options buyers would lose their premiums. Additionally, Ethereum options worth $1.2 billion will expire at the same time. These contracts have a put/call ratio of 0.72 and a max pain price of $3,000.

The Crypto Fear & Greed Index from data provider Alternative has dropped 10 points to 16, shifting investor sentiment from a state of fear to one of extreme fear. The index measures market sentiment on a scale where 0 indicates extreme fear and 100 represents extreme optimism. It is calculated based on factors including volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin's market capitalization dominance (10%), and Google search volume (10%).

Bitmine has staked an additional 314,496 ETH, valued at $887 million, Onchain Lens reported. The company is now staking a total of 2,831,392 ETH, worth approximately $7.98 billion.

A bipartisan deal between President Trump and Senate Democrats is expected to limit a government shutdown to a brief weekend lapse, with minimal impact. According to NBC News, the agreement includes a two-week stopgap for the Department of Homeland Security as broader funding talks continue. The House is set to act when it returns Monday.

Whale Alert reported that 348,000,000 USDC has been transferred from Coinbase Institutional to Coinbase. The transaction is valued at about $348 million.

Whale Alert reported that 308,127,261 USDC has been transferred from an unknown wallet to Coinbase. The transaction is valued at about $309 million.

David Sacks, the White House advisor on AI and cryptocurrency, stated that the U.S. is one step closer to establishing a regulatory framework for digital assets following the passage of the CLARITY Act by the U.S. Senate Agriculture Committee. He added that the administration will continue to work toward its goal of making the United States the global hub for cryptocurrency.