TokenomicsTrapper

【Crypto World】From on-chain data, Bitcoin's annual net realized profit has dropped to 2.5 million coins, the lowest level since March 2024. Interestingly, the same indicator showed a similar trend in March 2022—just as the last bear market was beginning. Not only did net realized profit decline, but net realized loss also followed the same pattern. What does this reflect? It indicates that the support for Bitcoin's price is weakening. In other words, the market bottom may not have truly been established yet.

Bitcoin's recent performance relative to gold has declined, with the price ratio falling to 18.46, representing a 55% drop from last year's peak. The ratio has broken below the 200-week moving average, indicating that bitcoin's cost relative to gold is rising. Historically, bitcoin has underperformed during bear markets, and the current cycle has not yet concluded. The market is currently redefining bitcoin's store-of-value status.

Although discussions about "de-dollarization" are increasing in the market, the dominance of the US dollar remains solid, accounting for 58% of global foreign exchange reserves. The lack of a reliable alternative currency makes the US dollar still indispensable in international trade and reserves, and its position is unlikely to be challenged in the short term.

During the Davos World Economic Forum, Hanwha Financial Group actively signed cooperation memoranda of understanding, engaging in in-depth collaborations with Liberty City Ventures and Xangle, focusing on fintech and digital financial ecosystems, demonstrating the increased emphasis and understanding of traditional finance towards the Web3 ecosystem.

【Blockchain Rhythm】Robinhood platform officially launched the spot trading feature for SKY on January 22. This means users can now directly buy and sell SKY on the platform, further expanding the variety of cryptocurrencies available. For traders interested in the development of the SKY ecosystem, this is undoubtedly a noteworthy move.

A leading exchange's wallet product has integrated Privy Privacy Wallet infrastructure, simplifying the process for developers to connect dApps with wallets, enhancing user experience, ensuring smoother and more secure connections, reducing cumbersome authorization steps, and providing privacy protection for the ecosystem.

NetMind.AI recently launched the decentralized AI platform AeroNavigator, focusing on DeFi AI agents that can monitor over 50 liquidity pools simultaneously, automatically execute multi-step trading strategies, and assist with trading around the clock. AeroNavigator was selected for Base Batches 002 and will be launching soon, worth paying attention to.

【BiTu】On-chain data monitoring shows that in the past month, a leading whale address has been continuously buying XAUT tokens. Specifically, the whale has accumulated 9,439 XAUT in batches over the past 25 days, with an average cost of $4,463 per token, totaling an investment of 42.13 million USDe. This transaction currently has an unrealized profit of $3.45 million. This move reflects the whale's optimistic outlook on the future performance of XAUT and is also worth paying attention to the holdings trends of institutional-level players.

On January 22, AppLovin responded to allegations from short-selling firms, stating that their report is filled with falsehoods and misleading information. The company emphasized the strict review standards and compliance of its advertising platform, refuted the allegations of "assisting money laundering," and pointed out that there is no systemic failure in the entire mobile advertising ecosystem, which has always maintained transparency and compliance.

The United States is about to release the Personal Consumption Expenditures Price Index (PCE), with market expectations for the core PCE year-over-year increase to be between 2.8% and 2.9%. Although inflation has not continued to worsen, the high-level sideways movement has squeezed monetary policy, and it is expected that the Federal Reserve will keep interest rates unchanged. In the short term, the high-interest-rate environment still puts pressure on risk assets, but cryptocurrencies may serve as a hedging tool, focusing on whether inflation can break the current situation.

A well-known trader reduced their position when shorting the gold token PAXG but did not completely exit the market. Instead, they adjusted their strategy by using high-leverage short positions and going long on Bitcoin to hedge, reducing overall risk, and successfully locking in gains and unrealized profits of $1,177,000, demonstrating flexible market decision-making skills.

Recently, the Meme coin TROLL on the Solana chain surged by 52% as exchanges are about to open trading, with its market capitalization reaching up to $33 million. Although the market quickly rose, Meme coin prices are highly volatile, so investors should be cautious to avoid losses due to market sentiment.

A major whale account was liquidated after using 10x leverage to short PEPE and HYPE due to insufficient margin. Its holdings of BTC and ETH are valued at $240 million, with an unrealized profit of $24.8 million, but now only $3.4 million remains, highlighting the significant risks of leveraged trading.

A major trader closed 258.93 BTC and 12,064.6 ETH within just 7 hours through meticulous short-term trading, earning $12,000 in profit and still maintaining an unrealized gain of $60,000. This high-frequency quantitative trading approach cautiously uses leverage and demonstrates strong risk management capabilities.

【BitPush】An exchange announced the launch of SKR trading pairs in Korean Won, and this news directly ignited market enthusiasm. Data shows that SKR's 24-hour increase has expanded to 313.0%, a complete rocket takeoff. The market capitalization also rose sharply, currently reaching $257 million, with the price surpassing $0.055. This move has attracted many traders to watch SKR's subsequent performance, and everyone is pondering whether this is another new opportunity.

Cryptocurrency custody company BitGo is set to go public on the NYSE at a price of $18 per share, with an expected raise of $213 million and a valuation exceeding $2 billion. This is the first crypto company to complete an IPO in 2026, indicating accelerated industry compliance financing and growing demand for crypto asset management.

Ark Invest's latest annual report predicts that by 2030, Bitcoin's market capitalization will reach $16 trillion, with the price of a single Bitcoin potentially surpassing $760,000, representing a growth potential of 765%. The company believes that Bitcoin is transforming into a mature institutional asset, with an expected compound annual growth rate of 63% over the next five years. Although there is uncertainty in the forecasts, the continuous influx of institutional capital has become a trend.

【Blockchain Rhythm】 On-chain data shows that BitMine has consecutively purchased over 34,000 ETH from the exchanges Kraken and BitGo within the past two hours, totaling approximately $100 million in large transactions. These purchase orders were executed in a dispersed manner, reflecting a cautious strategy by large investors. The outflow of such a large amount of Ethereum from exchanges often indicates market participants' optimism about the future market trend. BitMine's series of actions have also attracted the attention of on-chain monitoring tools—such whale-level buying behavior typically serves as a market indicator.

An institutional account on a compliant platform recently transferred 580 Bitcoins, attracting market attention. This action may reflect the institution's attitude towards the market, and further developments are needed to determine its specific strategy.

【Blockchain Rhythm】Data from January 22 shows that the cryptocurrency market experienced intense volatility. According to on-chain data, the total liquidation across the network in the past hour reached $74.15 million, with long positions liquidated at $70.53 million and short positions at only $3.62 million. This wave of significant fluctuations caused many long traders to face chain reactions of liquidation. Market sentiment is highly volatile, and leverage traders are under pressure in the short term.