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The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - ETH: $60.28 million liquidated (80.33% longs) - BTC: $41.70 million liquidated (82.32% longs) - RIVER: $13.86 million liquidated (72.73% shorts)

The South Korean exchange Upbit announced it will temporarily suspend deposits and withdrawals for 0G starting at 5:00 p.m. UTC on Jan. 27 due to a network hard fork.

YZi Labs, formerly known as Binance Labs, has announced its participation as a strategic investor in the Initial Public Offering (IPO) of cryptocurrency custody firm BitGo on the New York Stock Exchange (NYSE: BTGO). Previously, BitGo's stock closed 25% above its public offering price on its first day of trading on the NYSE.

U.S. financial firm Capital One has agreed to acquire San Francisco-based fintech company Brex for $5.15 billion, Decrypt reported. The deal is a strategic move by Capital One to expand its corporate payments and expense management business and strengthen its competitiveness against software-based financial platforms. Last September, Brex announced plans to launch a native, USDC-based stablecoin payment feature.

While the Bitcoin (BTC) derivatives market shows signs of caution regarding short-term downside risk, most traders anticipate a period of consolidation rather than a significant further decline, according to a Cointelegraph report citing Laevitas data. The report notes that the most active options strategies, such as the long straddle and long iron condor, are primarily focused on volatility rather than directional bets. This suggests that large-scale investors and market makers expect BTC to trade sideways and accumulate near the $89,500 level instead of experiencing another sharp sell-off. Furthermore, long-to-short ratios on major exchanges do not indicate extreme bearish sentiment. The ratio for top traders on Binance has risen to 2.18, while leading accounts on OKX have increased their long positions even after Bitcoin failed to hold the $90,000 support level.

An address associated with the team behind the DeFi yield protocol Pendle deposited 1.8 million PENDLE, worth $3.83 million, to Bybit seven hours ago, EmberCN reported. The same address had previously received a total of 1.8 million PENDLE, worth $260,000 at the time, from a token vesting contract between April 2022 and April 2023.

Binance has announced the launch of a WLFI airdrop campaign valued at $40 million for users who hold USD1 in at least one of their Spot, Funding, Margin, or Futures accounts. According to an official announcement, the campaign will run from 12:00 a.m. UTC on Jan. 23 to 12:00 a.m. UTC on Feb. 20. A total of 10 million WLFI will be distributed each week over the four-week period, with the first airdrop scheduled for Feb. 2.

CoinMarketCap's Altcoin Season Index has fallen two points from yesterday to 30. The index determines whether it is an "altcoin season" by comparing the price performance of the top 100 coins by market capitalization, excluding stablecoins and wrapped coins, against Bitcoin. An altcoin season is declared if 75% of the top 100 coins have outperformed Bitcoin over the past 90 days. A reading closer to 100 indicates a stronger altcoin season.

According to data from crypto options exchange Deribit, Bitcoin options with a notional value of $1.9 billion are set to expire at 8:00 a.m. UTC on Jan. 23. These contracts have a put/call ratio of 0.81 and a max pain price of $92,000. Additionally, Ethereum options worth $347 million will expire at the same time, featuring a put/call ratio of 0.84 and a max pain price of $3,200.

The Crypto Fear & Greed Index rose four points from yesterday to 24, though it remains in the extreme fear category, according to data from Alternative. The index measures market sentiment on a scale of 0 (extreme fear) to 100 (extreme optimism). It is calculated based on volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin's market cap dominance (10%), and Google search volume (10%).

Bitmine has staked an additional 171,264 ETH, valued at approximately $500 million, according to on-chain data analyst Onchain Lens. This brings the company's total staked holdings to 1,943,200 ETH, worth an estimated $5.73 billion.

The Democratic Party's KOSPI 5,000 Special Committee has proposed to President Lee Jae-myung that South Korea's next goal should be to achieve a KOSDAQ index of 3,000 by utilizing digital assets, the Maeil Business Newspaper reported exclusively. During a luncheon at the Blue House on Jan. 22, Democratic Party lawmaker Min Byeong-dug reportedly conveyed the idea to the president, who was said to have listened attentively. Min argued that allowing KOSDAQ-listed startups and other companies to use instruments like security tokens (STO) and won-denominated stablecoins could vitalize the market. He also asserted that the development of stablecoins should not be centered around banks.

The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are scheduled to hold a joint event on cryptocurrency next Tuesday, Coindesk reported. The two agencies held a similar meeting last September to signal an end to their jurisdictional disputes. They have also previously issued joint statements on cooperation and co-hosted roundtables on prediction markets and decentralized finance (DeFi). The event, which begins at 3:00 p.m. UTC on Tuesday, will feature brief introductions from the chairs of each agency followed by a panel discussion.

President Trump said he will impose a 25% tariff on all countries that trade with Iran.

Nasdaq has eliminated the 25,000-contract position limit for options on BTC and ETH ETFs, Cointelegraph reported. The exchange filed a proposed rule change with the U.S. Securities and Exchange Commission (SEC) to enact the change, which took effect on Wednesday.

The stablecoin market capitalization has effectively entered a period of stagnation due to factors including stricter regulations, Cointelegraph reported, citing Jimmy Xue, co-founder of the quantitative yield protocol Axis. Xue explained that more stringent regulatory frameworks in the U.S. and Europe have increased compliance costs, slowing the pace of stablecoin issuance. He also noted that higher real yields on U.S. Treasury bonds have created alternative options for generating returns beyond holding stablecoins. The report highlighted that the current stablecoin market cap is holding steady at around $310 billion, a stark contrast to the period from January 2024 to early 2025 when the circulating supply more than doubled.

The three major U.S. stock indices closed higher. The S&P 500 rose 0.55%, the Nasdaq Composite gained 0.91%, and the Dow Jones Industrial Average was up 0.63%.

The city council of Kingsport, Tennessee, has passed a zoning ordinance to allow cryptocurrency mining firms and data centers to operate in the area, Cointelegraph reported. The measure requires one additional vote before it can be finally implemented.

Coinbase has established an independent advisory council to assess the potential impact of quantum computing technology on the cryptographic security of major blockchain networks, Cointelegraph reported. The council includes senior university researchers and experts from both Ethereum and Coinbase. It plans to release its first report in early 2027, which will aim to provide a baseline for evaluating quantum-related risks.

The Optimism (OP) community has begun voting on a governance proposal to allocate 50% of the Ethereum (ETH) revenue generated by its Superchain sequencer toward OP token buybacks over a 12-month period, CoinDesk reported. According to the proposal, the repurchased OP tokens would initially be held in the treasury and could later be burned, used for ecosystem funding, or distributed to network security participants. The vote is set to conclude on Jan. 28.

Kansas State Senator Bowser has introduced a bill to establish a strategic reserve of Bitcoin and other cryptocurrencies, Watcher.Guru reported. The proposed legislation would place the state treasurer in charge of managing the reserve. Under the bill, a portion of the revenue generated from airdrops, staking rewards, and interest would be allocated to the state's general fund, while the principal BTC holdings would not be sold but instead held in reserve.

The blockchain-based golf game PGA Tour Rise is scheduled to launch on mobile this year, Decrypt reported. The game is a collaboration between the PGA Tour, the NODE Foundation, and game developer Solis Interactive. Players will be able to purchase and trade tokenized items through SKALE on Base, an Ethereum Layer 3 network.

Citibank has suggested that the recent surge in Ethereum's daily transaction volume and active addresses may be attributable to address poisoning scams, CoinDesk reported. In a report, the bank noted that a significant portion of recent transactions are for small amounts under $1, a pattern more consistent with scam activity than an influx of new users. Citibank's analysis concluded that lower transaction fees on the Ethereum network have enabled attackers to conduct these large-scale activities at a low cost. This assessment follows a similar analysis previously offered by security researcher Andrey Sergeenkov. Address poisoning is a scam in which attackers use vanity address generators to create wallet addresses that match the first and last few characters of a target's address, aiming to trick the user into mistakenly sending funds to the fraudulent address.

Bitwise has launched an actively managed exchange-traded fund (ETF) that combines investments in Bitcoin and gold, Cointelegraph reported. The fund, which trades on the New York Stock Exchange (NYSE) under the ticker BPRO, invests in BTC, precious metals, and related mining stocks. It plans to maintain a minimum 25% allocation to gold.

Binance founder Changpeng Zhao stated that while artificial intelligence (AI) will put people out of work, cryptocurrency will make jobs unnecessary. He suggested that those who buy and hold cryptocurrencies now could retire within a few years, adding that some people may have already done so.