Market Signal Briefing

Texas leads the way with strategic digital asset investments and innovative pension fund strategies.

The Teacher Retirement System of Texas (TRS), the state’s largest public pension fund, has increased its holdings in Strategy (MSTR), the Bitcoin treasury giant.

According to a new SEC filing, by the end of Q4 2025, the Austin-based pension fund held 80,844 MSTR shares worth over $12 million, up from 73,446 shares in the previous quarter.

The pension fund, which manages over $200 billion in retirement benefits for Texas public school educators, gains indirect Bitcoin exposure through Strategy, which currently holds 712,647 BTC, valued at over $60 billion at current market prices.

Shares of Strategy slid around 9% intraday on Thursday amid a major downturn in the crypto market, per Yahoo Finance.

The Texas pension fund has shown prior interest in crypto-related investments, committing $20 million to CoinFund Ventures, a crypto-focused fund, between mid-July and August 2024.

Texas has emerged as a leader in institutional crypto adoption. Governor Greg Abbott signed the Strategic Bitcoin Reserve law in June 2025. Following this, the state executed its first purchase in November, acquiring $5 million worth of BlackRock’s iShares Bitcoin Trust (IBIT).

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The BTC price is facing renewed selling pressure, with prices sliding to a multi-week low amid heightened volatility. The move followed a sharp reversal from recent highs and reflected weaker risk sentiment driven by macroeconomic signals, geopolitical developments, and heavy liquidation activity across crypto markets.

BTC Price Hits Six-Week Low on Geopolitical and Fed Pressure Bitcoin price dropped more than 5% on Thursday to $84,564, its lowest close since December 19. The drop followed Bitcoin trading at nearly $90,400, less than a day earlier, highlighting the rapid nature of the reversal. The asset is now well below its all-time high (ATH) of $126,000. Losses extended beyond Bitcoin to the broader crypto market. Ethereum, Cardano, XRP, and Solana all fell by at least 6% or more. Selling pressure increased as prices moved below short-term support levels.

Source: TradingView Market stress wascompounded by geopolitical risk. According to a report, the United States was sending a second warship to the Middle East. Iran also declared that it had begun preparations for fresh military exercises in the vicinity of the Strait of Hormuz. Global markets remained under pressure from such events, with increased buying amid defensive positioning.

The BTC price drop was also a function of macroeconomic conditions. The Fed left interest rates between 3.50% and 3.75%. Federal Reserve officials signaled that they were in no rush to cut interest rates, noting that the labor market was stabilizing and inflation remained somewhat elevated. 

How Leverage Unwinds Fueled Bitcoin’s Sharp Selloff In an X post, analyst BLAZEY highlighted that it is a “classic leverage flush.” According to the analyst, over-leveraged longs with leverage ratios around 2.2:1 were sold off sharply. In an hour, about $150 million in liquidations took place. Low liquidity exacerbated price swings in the selloff.

However, the daily trading volume of Bitcoin rose to around $49 billion as forced selling intensified. The total BTC price market capitalization slid to about $1.69 trillion, a 5.2% decrease from the previous day.

Liquidation data showed the magnitude of the move. According to CoinGlass data, nearly $319.25 million was liquidated for top crypto assets in the last 24 hours. Long positions represented over $307.59 million of that total, while short liquidations stand at $11.66 million. The imbalance indicated bullish exposure concentrated ahead of the decline.

Source: CoinGlass It is worth noting that the BTC price decline also comes despite new highs in stock markets and commodities such as gold and silver. JPMorgan analysts attributed the decline in Bitcoin to short-term capital flows and market sentiment.

The Bitcoin ETFs have seen significant outflows over the last few days, with these funds recording net outflows in seven out ot the last eight trading days. As a result, these funds have now recorded a net outflow of $278 million this month and are on course to end this month in the red.

Key NotesBitcoin's market cap dropped by approximately $85 billion as the cryptocurrency fell 5.83% to $84,437 in less than four hours.Over $500 million in leveraged positions were liquidated across the crypto market, with $471 million coming from long positions alone.The crash coincided with US stock market opening in the red, affecting multiple asset classes including gold and silver simultaneously. The leading cryptocurrency, Bitcoin BTC $84 415 24h volatility: 6.0% Market cap: $1.69 T Vol. 24h: $62.75 B , has just erased more than $85 billion of its market capitalization in less than four hours, facing more than $200 million in liquidations in the same period, post US market opening.

By the time of this writing, BTC was trading at $84,437, down 5.83% in the last 24 hours, according to CoinMarketCap on Jan. 29. With that, Bitcoin saw its nearly $1.70 trillion capitalization losing approximately $85 billion in a sudden crash that affected the entire crypto market.

Bitcoin (BTC) market data and price as of January 29, 2026 | Source: CoinMarketCap

Bitcoin’s 24-hour exchange volume raised by 20% to $51 billion, representing 3% of its market cap. The crash started just a few minutes after the United States stock market opened in the red on Jan. 29. Both the S&P 500, the US dollar index, gold, silver, and other leading assets are trading at losses intraday.

Nevertheless, a drop to this price region was already expected by prominent analysts like CrypNuevo. The analyst has been warning of this possibility for over a month, arguing that BTC would need to revisit a price range between $80,000 and $84,000 before it was ready to seek new highs above $100,000.

$BTC update:

The projection is still playing out perfectly. Bitcoin has just retested the range lows.

As we mentioned on Sunday, the bearish acceptance below the mid-range was signaling another drop to the range lows.

This projection from 1 month ago is 90% completed here 🔨😮 https://t.co/5EAD52V9FM pic.twitter.com/3NSUfptLFM

— CrypNuevo 🔨 (@CrypNuevo) January 29, 2026

Crypto Traders Face $500M Liquidations in 4 Hours Notably, this aggressive price drop caused a new cascade of liquidations, most from long positions, in a short time frame (four hours), according to CoinGlass data.

Overall, $500 million were erased from leveraged trading positions in the past four hours of this writing—$471 million of which were from longs.

Bitcoin alone saw $206 million in four-hour liquidations, $202 million of that coming from long positions.

In a higher time frame, more than 200,000 crypto traders saw more than $800 million in liquidations in the last 24 hours. The single largest liquidation happened in the BTC-USD pair on Hyperliquid, at a nominal value of $31 million. It was a long position.

Liquidation heatmap and total liquidations (4-hour), as of January 29, 2026 | Source: CoinGlass

Interestingly, these numbers, while terrifying, are nowhere close to the $19.35 billion liquidations crypto faced on Oct. 10.

Bitcoin and other cryptocurrencies could now be ready to rebound after erasing these liquidation clusters to the downside—accumulated since late 2025. However, this could only happen if macroeconomics and geopolitical affairs contribute to risk-on liquidity, which is highly uncertain at this point.

On that note, JPMorgan explained that BTC is not acting as a hedge to the falling US dollar, unlike precious metals like gold, silver, and copper that saw expressive rallies this week.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Cryptocurrency News, News

Vini Barbosa has covered the crypto industry professionally since 2020, summing up to over 10,000 hours of research, writing, and editing related content for media outlets and key industry players. Vini is an active commentator and a heavy user of the technology, truly believing in its revolutionary potential. Topics of interest include blockchain, open-source software, decentralized finance, and real-world utility.

Vini Barbosa on X

Bitcoin (BTC) fell to two-month lows Thursday as crypto joined stocks and precious metals in a snap sell-off.

Key points:

Bitcoin dives below $85,000 as macro assets suddenly tumble from record highs.

Gold and silver shock market watchers as nerves over global financial stability grow.

BTC price action faces an uphill struggle to avoid “Bearadise” at the monthly close.

Gold meltdown catches Bitcoin in its wakeData from TradingView captured new 2026 lows for Bitcoin, which reached $83,156 on Bitstamp to bring daily losses to nearly 6%.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView
Support at the 2026 yearly open, as well as nearby moving averages, failed to hold back sellers as crypto liquidations passed $500 million in four hours.

Crypto liquidations (screenshot). Source: CoinGlass
Bitcoin and altcoins were not alone in their sudden drop, reacting to global asset jitters that caught traders by surprise. Gold, which hit $5,600 for the first time in history earlier on the day, tumbled $400 in just 30 minutes.

In doing so, the precious metal erased more value than Bitcoin’s entire market cap.

XAU/USD one-hour chart. Source: Cointelegraph/TradingView
Reacting, Bitcoin market participants balanced macro volatility with hope that a reset may finally give bulls a break.

Rate cuts can't pump BTC.
Pro-crypto President can't pump BTC.
Weak dollar can't pump BTC.
Institutional adoption can't pump BTC.
Rising Global liquidity can't pump BTC.
Fed injecting liquidity can't pump BTC.
Stocks new ATH can't pump BTC.

Is there anything that could pump BTC… pic.twitter.com/GK5OAHHP4m

— BitBull (@AkaBull_) January 29, 2026 “Wild markets today as Gold and Silver erase trillions in minutes. Yes, $BTC goes down during that panic flush, and we'll probably see some lower levels,” crypto trader, analyst and entrepreneur Michaël van de Poppe wrote in a post on X. 

“ time for Bitcoin to shine is coming.” BTC/USD vs. XAU/USD one-day chart. Source: Cointelegraph/TradingView
Nic Puckrin, CEO of crypto education resource Coin Bureau, was among those warning that the erratic moves on precious metals were abnormal.

“Gold and silver just don’t do this,” he told X followers, calling the latest price action “insane.”

Puckrin argued that the US dollar, the world’s reserve currency, faced “confidence erosion” and that global gold and silver demand was a sign of investors and central banks bracing for turbulence.

“They are prepositioning,” he concluded. 

“Get excited about metals, but realise these buys are essentially insurance. And, when gold and silver actually ‘do this,’ we need to pay attention.”All eyes on BTC price monthly closeEarlier, Cointelegraph reported on manipulatory moves on Bitcoin exchange order-books involving an unknown whale entity “suppressing” price.

Keith Alan, cofounder of trading resource Material Indicators, which reported the phenomenon, later reiterated the need to reclaim the 2026 open by the monthly candle close.

“$BTC is once again testing support at what I consider to be the most important level on the chart. The Monthly candle close rapidly coming into focus makes this an inflection point for the trend,” he wrote on X. 

“A monthly close above the Yearly Open will fuel hopium for bulls. A close below that Timescape Level ($87.5k) will puts us on a path to Bearadise.” BTC/USD 1-day candle chart. Source: X/@KAProductionsThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.

The AVAX price continued its steep downward trend this week, breaking a crucial support level despite notable positive developments, including soaring ETF inflows and strong network growth.

Summary

AVAX price could crash to a record low after losing a key support. The recently launched AVAX ETF added over $1.24 million in assets. Avalanche’s active users and transactions have soared recently. Avalanche (AVAX) token dropped to a low of $10, its lowest level since November 2023. It has crashed by over 80% from its highest level in December 2024.

The ongoing AVAX price crash occurred despite ETF inflows and network growth. Data compiled by SoSoValue shows that the recently launched VanEck Avalanche ETF added over $1.24 million in inflow, bringing the net assets to $3.73 million. 

Additional data show that Avalanche’s network is performing well. Its active addresses jumped by 273% in the last 30 days to 1.57 million. Also, the number of active addresses jumped by 3.2% in the last 30 days to nearly 70 million. 

Avalanche active addresses | Source: Nansen This growth has come as the network has become one of the largest players in the real-world asset tokenization industry. Data compiled by RWA show that RWA assets jumped to over $641 million.

This growth occurred as some notable companies, such as Franklin Templeton, Apollo Global, BlackRock, and Janus Henderson, have embraced tokenized funds on Avalanche. 

Avalanche is also a major player in the stablecoin industry. Its stablecoin supply jumped to over $2.20 billion, with the number of holders rising to over 3.5 million. 

AVAX price technical analysis  Avalanche price chart | Source: crypto.news The weekly timeframe chart shows that the AVAX price has been in a strong bearish trend in the past few years. It has dropped from a high of $65 in December 2024 to its current price of $10. 

The coin has moved below the important support level at $15.11, its lowest level in March and June last year. That price was the lower side of the descending triangle pattern.

Avalanche price has dropped below the 50-week and 100-week Exponential Moving Averages. It has also moved below the Supertrend indicator. 

Therefore, the most likely scenario is that the coin continues to rise as sellers target the all-time low of $8.40.

Ethereum (ETH) announced ERC-8004 is heading to mainnet, positioning the network as a neutral infrastructure for a problem the AI industry can't yet solve: how agents prove they're trustworthy when no single platform controls the reputation layer.

The timing reveals the underlying tension, as AI agents are moving from demos into production systems that trigger real transactions.

Mastercard is drafting commerce standards for agentic checkout, UK banks are piloting customer-facing agent trials slated for early 2026, and Gartner projects 40% of enterprise applications will integrate task-specific agents by year-end.

However, a Camunda report found that while 71% of organizations now deploy AI agents, only 11% of use cases reached production over the past year. The blockers are trust, transparency, and regulatory risk.

Dynatrace surveys show roughly half of agentic projects stalled in pilot, with 52% citing security and compliance issues, and about 70% of AI decisions still requiring human verification.

ERC-8004 tries to productize that trust gap by defining three lightweight registries: identity, reputation, and validation. Those can be deployed on mainnet or layer-2 blockchains as application-layer contracts, not a protocol fork.

Ethereum's official account framed the standard as enabling “discovery and portable reputation,” so AI services can “interoperate without gatekeepers.” The canonical spec remains in draft status on eips.ethereum.org.

Surveys from Camunda and Dynatrace show 71% of organizations deploy AI agents, but only 11% reach production due to security and human verification requirements.Three registries, three coordination problemsThe Identity Registry turns each agent into an ERC-721 NFT with a global identifier and a pointer to a structured registration file.

That file lists capabilities, endpoints (MCP, A2A, ENS, DID, web URLs), and contact methods, essentially serving as a service directory for machine actors.

Agents become discoverable and transferable using standard NFT tooling.

The spec includes optional endpoint domain verification to prove domain control, and reserves an “agentWallet” field that requires EIP-712 signature or ERC-1271 verification to change.

The design choice prevents “I'm reputable, pay here” hijacks, where an attacker swaps the payment address while preserving the reputation.

Identity solves composability, as reputations and validations can be indexed to a stable agent ID rather than a platform account. Ethereum is trying to turn agent identity into a public utility, the same way ENS did for names, but for machine actors.

The failure mode is baked in, with ERC-8004 proving that the metadata belongs to the agent NFT, not that the endpoints are safe or honest.

The spec warns that advertised capabilities “might be non-functional or malicious,” which is why the other two registries exist.

The Reputation Registry stores minimal, composable feedback data on-chain and pushes rich details off-chain via URIs and hashes. Feedback includes a signed fixed-point value with configurable decimals and optional tags.

The off-chain JSON can include context like MCP tool references, A2A task IDs, and even proof-of-payment references. The spec explicitly names x402-style HTTP payment proofs.

There's a revokeFeedback path and an appendResponse function for refunds, spam flags, or rebuttals.

ERC-8004 does not promise an on-chain Yelp score. It's closer to a shared event rail where different marketplaces, insurers, and auditors can compute their own trust models.

The spec explicitly warns that summaries without filtering reviewers are vulnerable to Sybil attacks and spam, requiring clientAddresses filtering for getSummary calls.

Aggregation happens both on-chain through basic composability and off-chain through sophisticated scoring. The design assumes reputation gaming, such as bought reviews, collusion, and feedback laundering, as inevitable, not exceptional.

Economic bias creeps in if proof of payment becomes de facto proof of credibility: big spenders look trustworthy. And because rich feedback is event-based and off-chain, whoever runs the best indexers and filters could become a new gatekeeper.

The Validation Registry implements an on-chain request/response log in which agents submit requests to validator contracts to verify work, and validators post outcomes along with optional evidence URIs and hashes.

Agent owners call validationRequest with a validator address, agent ID, request URI, and a keccak commitment to the payload. Validators respond via validationResponse with a score, a response URI, a hash, and a tag.

The spec allows progressive responses, including soft and hard finality via tags, permits multiple responses, and keeps the design intentionally generic to accommodate crypto-economic re-execution, zkML verifiers, TEE oracles, or trusted judges.

Validation is the trust escalator: reputation works for low-stakes tasks, but validation is what you reach for when money, compliance, or liability are on the line.

The EIP describes tiered trust proportional to value-at-risk: pizza orders versus medical diagnoses.

The failure mode: who validates the validators? ERC-8004 records validator outputs but doesn't solve validator integrity, creating a meta-market for validator reputations, staking, insurance, and audit brands.

RegistryWhat it doesWhat’s on-chain vs off-chainKey mechanismsPrimary failure modeIdentity RegistryDiscovery + durable agent ID (composable handle others can reference)On-chain: ERC-721 agent ID + pointers / key-value metadata Off-chain: structured registration file (capabilities, endpoints, contact)Optional endpoint domain verification; agentWallet change requires EIP-712 signature or ERC-1271 verificationMetadata can be truthful-but-malicious (ownership ≠ honesty/safety)Reputation RegistryPortable feedback signals across orgs/markets (shared trust events)On-chain: minimal feedback primitives; event rail Off-chain: context URIs/hashes (task IDs, payment proofs, etc.)revokeFeedback + appendResponse (refunds/rebuttals); getSummary requires reviewer filtering to reduce SybilSybil/collusion + “best indexer wins” gatekeepingValidation RegistryThird-party verification for high-stakes actions (trust escalator)On-chain: request/response log + scores/tags Off-chain: evidence URIs/hashesCommitments via requestHash; progressive responses (soft/hard finality tags), multiple responses allowed“Who validates validators?” → validator corruption / cartelizationWhy Ethereum thinks this is infrastructureThe emerging agent stack looks like this: MCP and A2A handle communication and orchestration, x402 (HTTP 402 plus stablecoin settlement) handles payments, and ERC-8004 handles trust and discovery.

The clean line is that ERC-8004 doesn't compete with MCP, A2A, or x402. Instead, it composes with them.

The EIP includes fields for MCP and A2A endpoints, as well as payment-proof references, within off-chain feedback payloads.

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There's a broader industry push toward neutral, open agent standards governance, such as MCP moving to Linux Foundation stewardship to keep it open.

ERC-8004 is Ethereum making an analogous pitch in crypto: use public rails instead of platform trust.

If it sticks, the winners aren't just “AI coins,” but layer-2 blockchains where high-frequency reputation and validation logs are economical, identity and attestation tooling, validator networks, and insurance-like middleware that monetize trust for high-stakes agent actions.

ERC-8004 turns trust into a composable commodity, so the market will build specialists to manufacture it (validators) and interpret it (scorers).

The adoption envelope is defensible but uncertain.

Gartner's 40% forecast for enterprise application integration by year-end adds top-of-funnel pressure.

A bear case over 12-18 months sees 10,000 to 100,000 agent IDs registered across chains, with reputation mostly sparse and validation rare.

Identity becomes a developer curiosity, and marketplaces remain platform-gated.

A base case sees 100,000 to 1 million registered agents, with reputation events becoming the default receipt for agent services and validation used for high-value tasks and regulated flows.

ERC-8004 serves as the interoperability glue between open-agent protocols and machine payments, especially on layer-2.

A bull case in which agentic commerce takes off and the industry coalesces around shared reputation to avoid platform lock-in produces 1 million to 10 million agent IDs, with validators and insurers emerging as a new middleware category.

Ethereum and layer-2 blockchains become the coordination substrate for cross-market agent services.

ERC-8004 adoption scenarios project 10,000 to 10 million agent IDs registered within 12-18 months across bear, base, and bull cases.Risks as part of the designPortable reputation starts to resemble a cross-platform identity shadow.

That will collide with enterprise governance and regulators, especially where agent actions touch payments, financial advice, or personal data. Regulators overseeing UK bank trials have flagged accountability risks posed by autonomous systems.

Metadata manipulation remains unsolved: identity proves ownership of the registration file, not the truthfulness of claims. Validator corruption and cartelization become the new moat: validation outputs are portable, but validator integrity is what markets will price.

Recent reporting on MCP server vulnerabilities stressed that agent ecosystems are brittle. Composability can amplify exploits.

Reputation and validation rails don't magically fix that, but they create a path to price risk and gate high-stakes interactions behind stronger validation.

ERC-8004 is Ethereum's attempt to become a neutral trust and discovery layer for agent-to-agent commerce, offering portable identity, portable reputation signals, and portable validation results. This happens at the exact moment agents shift from demos to systems that trigger real-world actions.

MCP and A2A help agents talk, while ERC-8004 tries to help agents trust.

The open question is whether the market wants shared infrastructure for trust or whether platforms will keep that moat proprietary. Ethereum is betting that the bottleneck is so severe that neutrality becomes the product.

Mentioned in this articlePosted in

The rollout of Aero, targeted for the second quarter of 2026, will take direct aim at incumbents like Uniswap and Curve, the team told CoinDesk. Jan 29, 2026, 6:14 p.m.

While much of the industry’s attention over the past year has gravitated toward stablecoins, tokenized treasuries and institutional onramps, the team behind Velodrome and Aerodrome says the real power struggle in crypto is unfolding elsewhere: in decentralized exchanges (DEXs).

Alex Cutler, the CEO of Dromos Labs, the main developer firm behind Aerodrome and Velodrome, described the exchange layer as "the second most important layer" to the onchain economy in an interview with CoinDesk.

STORY CONTINUES BELOW

That view is now shaping the company’s most aggressive move yet. Dromos Labs is preparing to unveil Aero, a unified DEX that will merge its existing Aerodrome and Velodrome protocols under a single operating system, and take direct aim at incumbents like Uniswap and Curve.

The rollout, targeted for the second quarter of 2026, will also mark Dromos Labs’ expansion to Ethereum mainnet, putting the firm into head-to-head competition with the largest and most entrenched DEXs in the market.

Aerodrome currently captures a significant share of trading activity on Coinbase’s Base network, while Velodrome plays a similar role across Optimism’s Superchain. Aerodrome currently has nearly $500 million in total value locked (TVL) and surpassed $1 billion in December 2025, when it accounted for roughly a quarter of Base’s total TVL, a level of dominance Dromos Labs says is repeatable on mainnet.

While decentralized finance may no longer dominate crypto’s daily headlines, Cutler argues that it reflects consolidation, not stagnation. In his view, nearly every narrative driving crypto adoption, from institutional FX to memecoins, still depends on the same foundational infrastructure.

“You can’t have global FX onchain without deep liquidity and the ability to exchange it freely, cross-network, at fast speeds and low cost,” he said. “The two essential pillars of the onchain economy are the chain layer and the exchange layer — and every trend benefits those two.”

Dromos Labs’ strategy is rooted in the belief that exchanges, rather than blockchains, will become the primary footholds for value as more assets move onchain. That thesis informs both Aero’s design and the company’s increasingly explicit positioning against Uniswap, the sector’s largest incumbent.

“One of the most important stories next year is going to be: who owns the exchange layer?” Cutler said.

The competitive contrast sharpened earlier this year when Uniswap governance advanced a “UNIfication proposal” aimed at allowing protocol revenue to flow to UNI token holders. Cutler publicly criticized the move, arguing it weakens Uniswap’s relationship with liquidity providers, the core engine of any DEX.

“They’re taking from liquidity providers to give to token holders — and that means paying less for the most essential service in DeFi,” he said.

(The UNIfication proposal is Uniswap’s plan to simplify how the protocol works and begin sharing trading fees with UNI token holders, a move that would change who gets paid within the exchange.)

Uniswap did not return a request for comment in time for publication.

Until now, Dromos Labs’ competitiveness has largely been confined to layer-2 networks. Aero’s Ethereum mainnet launch is intended to change that dynamic, and test whether its model can scale against Uniswap and Curve on their home turf.

While Aero is designed to serve retail users chasing liquidity across networks, Dromos Labs is also building with institutional adoption in mind.

“Institutions will use DeFi rails, but those rails have to be institutional-grade, that’s non-negotiable,” Cutler said. “There can’t be human dependency layers. Everything has to be verifiable.”

That includes onchain automation, reduced operational risk and compliance tooling embedded directly at the protocol level, features Cutler says are essential as capital markets increasingly move onchain.

Read more: Leading Base DEX Aerodrome Merges Into Aero in Major Overhaul

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Pudgy Penguins: A New Blueprint for Tokenized Culture

Dec 30, 2025

Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.

What to know:

Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.

The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.

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Ethereum OGs revive the DAO with $220 million security fund, Unchained reports

1 hour ago

According to the report, $13.5 million will be allocated to security grants distributed through DAO-style mechanisms

What to know:

Some key Ethereum members, including Ethereum co-founder Vitalik Buterin, are reviving one of the network’s oldest and most symbolic chapters: The DAO.According to the announcement, $13.5 million will be allocated to security grants distributed through DAO-style mechanisms.

Key NotesIntersect has announced plans for a less disruptive hard fork on the Cardano network.Core developer teams are working hard to cut two releases of Cardano Node.These are Cardano Node 10.6.2 and Node 10.7.0. Intersect on X shared a detailed article on future Cardano upgrades, which are designed to increase in frequency. This insight comes as the blockchain approaches the Intra-era hard fork to Protocol Version 11.

Two Cuts for Cardano Nodes In the X post, Intersect shared new details on the small intra-era upgrade. With the hard fork, it means that transaction shape will not change, minimizing ecosystem upgrade effort. Its focus will be to deliver performance boosts for Plutus, new cryptographic capabilities via builtins, and cleaner ledger rules, without breaking existing contracts.

For now, the team is in the first stages of the upgrade process, with a focus on socialization and planning. Meanwhile, the IOE teams are investing effort and resources into cutting two releases of the Cardano Node. The first one will be Pre-Release Cardano Node 10.6.2 with a target release within one week.

This pre-release node contains hard fork functionality, and its target is to get the hard fork features into the community’s hands as soon as possible. It is also involved in SanchoNet testing. This is aimed towards getting the ball rolling and engaging stakeholders before a Hard Fork candidate node is prepared.

Ultimately, it spotlighted Cardano Node 10.7.0, which has its target release within three weeks. This is the mainnet hard-fork-ready candidate release. It will be used to fork features like Preview, PreProd, and then Mainnet. Formal benchmarking and performance tests were run on this node.

Past Hard Fork Upgrades on Cardano This update comes exactly a year after Cardano’s Plomin hard fork went live. It marked the introduction of decentralized governance to the Proof-of-Stake (PoS) blockchain network. The Plomin hard fork requires Stake Pool Operators to update their nodes and approve the upgrade through a 51% majority vote.

At the time, Cardano founder Charles Hoskinson was pushing for decentralized governance. He talked about how Cardano’s Voltaire-era governance aims to strike a balance between decentralization and efficient decision-making, addressing a gap in the blockchain industry.

Cardano’s Chang hard fork is another key upgrade that boosted decentralized governance on the protocol. The focus was on empowering the Cardano community through on-chain governance features. ADA holders were granted the power to elect representatives (Delegate Representatives or dReps) and participate in voting on crucial proposals.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Blockchain News, Cryptocurrency News, News

Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.

Godfrey Benjamin on X

In the current market environment, Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) have notably lagged behind other risk assets like equities and precious metals. Crypto analyst Garrett Bullish attributes this underperformance to three primary factors: The lingering effects of a deleveraging cycle Unique market micro-structure issues Potential manipulation by speculative entities Crypto's “Ghost Town” Effect: Deleveraging and Retail Exhaustion The crypto market is suffering from a “deleveraging hangover” that began in October, the analyst noted in an article published on X on Thursday.

The price of Bitcoin fell to a two-month low on Thursday, wavering alongside equities and precious metals as Microsoft’s post-earnings tumble deepened.

The leading digital asset by market cap recently changed hands around $84,400, a 5% decrease over the past day, according to CoinGecko. Altcoins including Ethereum and Solana notched steeper declines, falling 6.4% and 6.8% to $2,800 and $117, respectively.

Crypto liquidations surged, with more than $800 million worth of leveraged positions forcibly closed over the past day, according to CoinGlass. Nearly $700 million worth of losses stacked up for long positions. And a $31 million position was wiped out on Hyperliquid.

Following its blistering past $5,600 per ounce on Wednesday, the price of gold decreased 0.6% to $5,300. Silver meanwhile dropped 0.8% to $112 per ounce.

Microsoft shares fell more than 12% to recently change hands around $422, according to Yahoo Finance. Although the tech behemoth’s second-quarter earnings results surpassed Wall Street expectations, a slowdown in cloud sales growth and CapEx spending sparked investor jitters.

The tech-heavy Nasdaq Composite plunged more than 2%, erasing much of its year-to-date gains. The index hit a record high earlier this week alongside the S&P 500, which fell 1.1%.

Editor's note: This story is breaking and will be updated with additional details.

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“The DAO is back!” longtime Ethereum developer Griff Green, who helped found The DAO, of infamous notoriety, said on Thursday. 

According to Green, funds that were initially sequestered to help refund “edge case” victims of the infamous 2016 hack of The DAO will now be redeployed “to support Ethereum security.” 

“We’re launching The DAO security fund,” Griff said in an interview with journalist Laura Shin, who wrote a book uncovering secrets about the infamous exploit of The DAO. “Basically, there’s a lot of money sitting in random contracts that were supposed to be returned to people affected by the hack.”

But about 20% of those funds — initially $6 million, now worth “somewhere around $200 million” — were never claimed, according to Green. Together with the Ethereum Foundation, the new security fund will help support the increasingly important Ethereum security sector. 

In particular, the new effort, called TheDAO Security Fund, will use about 70,500 ETH from an ExtraBalance Withdrawal contract and about 4,600 ETH worth of ether and DAO tokens from TheDAO’s Curator Multisig, "which has no clear claimants," according to a blog on Thursday. The funds will be staked, with the revenue used to fund operations. 

“The DAO is back … and that may scare some people, but this time it shouldn’t be so scary,” Green said, noting, somewhat ironically, that The DAO helped “kickstart the security industry in Ethereum.”

Green noted the new security fund is part of the Ethereum Foundation's wider "Trillion Dollar Security initiative." Allocations from the new fund will use "bottom-up mechanisms, such as quadratic funding, retroactive funding, RFP rank-choice voting," while the Ethereum Foundation’s Grants Management team will provide the eligibility requirements for each round.

In addition to spearheading initial ETH recovery efforts following The DAO hack and the crisis response, Green is the co-founder of Giveth, the Commons Stack, and DAppNode. Giveth will also play a role in allocating the security budget.

TheDAO Security Fund named Vitalik Buterin, MetaMask's Taylor Monahan, ZisK's Jordi Baylina, SEAL 911's pcaversaccio, and other prominent Ethereum security experts as curators.

The DAO hack Launched as a crowdfunded venture capital fund that raised about $150 million worth of ETH, The DAO was hacked within weeks, leading to discussions about whether to rollback the chain to recover funds. 

The Ethereum community voted to fork the chain, leading to the main Ethereum chain today and Ethereum Classic, which was meant to represent the ideological view that “code is law.”

Green noted the event also led to increases in smart contract security, but that safety remains the “biggest problem of today." 

“There are so many phishing attacks and wallet drainings, I feel like we’ve been stuck in a rut for the last six years, not improving security for laypeople,” Green said.

This is a breaking story and may be updated.

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© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

TLDR: Ethereum trades in forced equilibrium within defined boxes, selling at highs and buying at lows without structural direction.  The consolidation creates messy low-timeframe conditions with false breakouts that punish impulsive traders significantly.  Critical support holds around $2,930 with statistical data showing low probability of breaking the weekly low currently.  Upside targets sit near $3,070 liquidity zone, requiring market structure break confirmation on multiple timeframes first. Ethereum continues trading within defined price ranges without establishing structural direction, according to recent market analysis.

The asset remains confined between key support and resistance levels that have held for months. Technical analysts observe this pattern as a forced equilibrium rather than genuine market strength or weakness, creating challenges for short-term traders seeking clear trends.

Extended Consolidation Creates Trading Complexity The prolonged consolidation phase has transformed ETH into a time-consuming market rather than a trending one. Analyst EliZ notes the asset consistently sells at upper boundaries and attracts buying pressure at lower zones.

This repetitive behavior generates a structure where liquidity simply rotates without producing meaningful directional momentum. The pattern has persisted across multiple timeframes, from daily charts extending to yearly perspectives.

$ETH macro

The key here is to look up and stop getting caught up in the daily noise.

If you look at these charts from a macro perspective, what emerges is not real strength or weakness, but an enormous forced equilibrium. The price continues to move within well-defined boxes,… pic.twitter.com/lS4kwDfEND

— EliZ (@eliz883) January 29, 2026

Market participants frequently misread short-term movements as potential regime changes. However, the broader context reveals these fluctuations as noise within established boundaries.

Without sustained acceptance beyond critical technical areas, each bounce or decline merely represents another cycle within the existing framework.

The environment particularly punishes traders who force positions based on emotional reactions to isolated price movements or social media commentary.

Lower timeframe analysis reveals messy, non-fluid action filled with false breakouts and immediate reversals. These conditions favor patient traders who reduce position sizes and wait for high-probability setups.

The current structure rewards discipline over frequency, as most intraday movements fail to produce follow-through.

Until ETH demonstrates a clean breakout above resistance or breakdown below support, the market maintains its neutral stance.

Technical setups require clear triggers rather than anticipatory positioning. The consolidation makes premature entries costly, as price action repeatedly invalidates both bullish and bearish narratives.

Traders operating on gut reactions or single-candle interpretations typically experience the worst outcomes in these conditions.

The macro perspective demands patience until the market provides genuine signals of directional commitment.

Support Levels Hold Despite Testing Pressure Lennaert Snyder identifies ETH maintaining its uptrend with crucial support around the $2,930 level. Statistical analysis suggests low probability of breaking the weekly low, shifting focus toward long opportunities.

The preferred scenario involves sweeping the $2,938 low before establishing a market structure break that signals upside continuation. Target liquidity sits near $3,070, representing the next meaningful resistance zone.

$ETH is maintaining the uptrend.

Just like BTC, it's now holding an important support box around ~$2,930.

Statistics show a low probability of taking out the weekly low, therefore I'm focused on longs here.

The trigger I'd like to see is that we sweep the current ~$2,938 low,… pic.twitter.com/kfwqsbdAFR

— Lennaert Snyder (@LennaertSnyder) January 29, 2026

The depth of potential downside sweeps remains uncertain, requiring adaptive position management. If price develops a new swing high during deeper retests, the market structure break level adjusts accordingly.

This flexibility accounts for manipulation tactics that often precede genuine directional moves. The support box may experience additional testing or brief violations before providing the technical confirmation traders seek.

Multiple timeframe analysis suggests watching M15, M30, or H1 charts for the market structure break signal. This approach allows traders to catch moves after confirmation rather than during ambiguous price action.

Risk management involves taking partial profits at intermediate levels while maintaining core positions toward the $3,070 target.

The strategy acknowledges current volatility while positioning for potential upside resolution of the consolidation pattern.

Thu, 29/01/2026 - 16:46

Bitcoin has just experienced a truly devastating crash, collapsing below $85,000.

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The cryptocurrency market suffered a catastrophic flash crash on Thursday. The sudden Bitcoin plunge liquidated nearly $800 million in leveraged positions being liquidated over the last 24 hours.

The carnage was most severe in a single, brutal hour of trading where bulls were caught off guard. 

According to CoinGlass liquidation data, a staggering $301.15 million in long positions were wiped out in just 60 minutes. Longs accounted for 96% of the damage ($301.15 million).

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Bullish traders with no time to react as Bitcoin plunged from highs near $90,600 toward the $84,000 support level.

The liquidation cascadeOver the full day, $797.91 million has been erased from the market. Of this, $690.26 million came from bullish traders who were betting on a breakout to new highs.

Bitcoin (BTC) plunged 5.3% to $84,635, dragging the broader digital asset market down with it. 

The single largest liquidation order of the day occurred on Hyperliquid, where a massive $31.64 million BTC-USD position was forcibly closed.

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Ripple: The Emerging Alternative to SWIFT, Backed by Financial GiantsOn-chain metrics provider XRP Update notes that Ripple has been recognized by Morgan Stanley and top banking journals as a potential game-changer in global payments, offering a blockchain-based alternative to SWIFT for faster, cheaper, and more secure cross-border transactions.

Well, Ripple’s core advantage is speed. Unlike SWIFT, which can take days, Ripple enables near-instant cross-border settlements, boosting liquidity and freeing capital for banks and businesses.

Furthermore, Ripple cuts costs by removing intermediaries in traditional correspondent banking, reducing fees and creating a transparent payment process. For corporations with high-volume international transfers, this can yield significant annual savings.

Is Ripple the Icing on the Cake?Ripple’s blockchain enhances security and cuts fraud risk. Its decentralized ledger and real-time transaction verification minimize errors common in SWIFT, while research shows it strengthens compliance and lowers operational risks for cross-border payments.

What gives Ripple a competitive edge? Well, Ripple’s technology combines efficiency, security, and scalability, enabling its network to handle growing transaction volumes without sacrificing speed, vital for financial institutions embracing digital payments.

Morgan Stanley and leading banking journals highlight Ripple not as a niche innovation but as a strategic alternative poised to reshape global payments. As blockchain adoption grows, Ripple’s focus on speed, cost efficiency, and security positions it as a potential new standard for international transactions.

Backed by institutions and gaining academic recognition, Ripple is more than hype. For banks, businesses, and regulators seeking a modern alternative to SWIFT, its momentum is accelerating, with on-chain metrics signaling widespread adoption.

ConclusionAs global finance shifts toward digital solutions, Ripple emerges as a faster, cheaper, and more secure alternative to SWIFT. Its blockchain-based network reduces fraud risk, boosts efficiency, and scales seamlessly for cross-border payments. 

Supported by Morgan Stanley insights and academic research, Ripple isn’t just a technology, it’s a strategic evolution in the global money movement, offering banks, corporations, and regulators a transparent, modern payment solution.

Bitcoin price has once again been trading under pressure after failing to sustain higher levels, leaving the broader crypto market cautious. The pullback below $85,000 comes at a time when risk appetite has weakened across global markets, with investors showing hesitation toward volatile assets. While the move has sparked concerns about a deeper correction, the current decline appears to be driven more by demand fatigue and macro positioning than by panic selling. The key question now is whether Bitcoin is merely consolidating or setting up for another leg lower.

What’s Driving Bitcoin Lower TodayBitcoin isn’t falling because of a crash event. It’s sliding because support broke, buyers hesitated, broader crypto weakened, and macro conditions discouraged fresh risk-taking—all happening at the same time. Bitcoin’s decline today is being driven by the following factors.

Key Support Broken Bitcoin slipped below the $88,000–$87,000 support zone, a level that had held multiple times earlier. Once this floor failed, technical selling accelerated, dragging BTC toward the $85,000–$85,200 area. This move triggered stop-losses and short-term de-risking rather than panic liquidation.

Buyers Stepped Back at Higher LevelsSpot demand failed to absorb supply near resistance. Without aggressive buyers defending the breakout zone, rallies faded quickly. This lack of follow-through left Bitcoin vulnerable once the price slipped below support.

Broader Crypto Market Turned Risk-OffSelling pressure wasn’t isolated to Bitcoin. Most major cryptocurrencies traded in the red, pulling the total crypto market lower over the past 24 hours. When the broader market weakens together, Bitcoin typically absorbs the largest share of selling pressure.

Macro Headwinds Are Capping Risk AppetiteA combination of geopolitical uncertainty and the Federal Reserve holding rates steady without dovish guidance has kept investors cautious. As a result, capital has leaned toward safer assets, while high-risk exposure like crypto has seen reduced inflows.

Bitcoin Breaks Down the Bear Flag Structure Bitcoin’s latest pullback is now reflecting clearly on the higher-timeframe chart. After failing to hold above the $90,000 region, BTC has slipped back below a critical support zone, shifting market sentiment toward caution. The weekly structure shows fading bullish control as buyers struggle to defend key levels amid weak follow-through. 

The weekly chart shows Bitcoin breaking below the $88,000–$85,000 support band, which is the channel of a bear flag. Volume has not expanded on the rebound attempts, indicating weak buyer conviction. If BTC fails to reclaim $90,000–$92,000, the structure opens downside risk toward $80,000, followed by deeper support near $75,000. The broader trend remains corrective unless price reclaims former resistance decisively.

What’s Next? Will BTC Price Drop Below $80,000?Bitcoin’s weekly structure continues to lean bearish, with selling pressure increasingly absorbing buying volume. The weekly MACD has turned negative again, while the RSI is drifting toward lower support, reflecting weakening momentum. From a pattern perspective, confirmation of the bear flag breakdown would open downside risk toward the $70,000 region, aligning with the projected length of the flag’s pole. However, the $80,400 support zone remains critical. If buyers manage to defend this level, a short-term rebound could emerge. Failure to hold it, however, would likely keep Bitcoin testing lower demand zones.

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After months of compressed price action, XRP is back in focus after a widely followed crypto trader on X highlighted a significant shift on the weekly chart. The asset is now showing a technical signal that has historically appeared near major turning points, sparking debate over whether this setup can realistically support a move back toward XRP’s prior all-time highs.

XRP’s Multi-Year Range Holds As Bullish Momentum Emerges The crypto trader notes that XRP’s current market structure remains anchored to a clearly defined weekly price range that dates back to the 2018 cycle peak. This long-standing zone, stretching roughly from the low-$2 area to the low-$3 region, has functioned as a structural equilibrium for XRP across multiple market phases. Since late 2024, XRP’s price has stayed compressed within this range, repeatedly testing both support and resistance without delivering a decisive breakout or breakdown.

Source: X What differentiates the current setup from previous failures is the behavior of momentum. On recent weekly lows, momentum indicators have begun forming higher lows even as price revisits familiar support levels. In practical terms, downside moves are losing strength, signaling that selling pressure is weakening. This bullish divergence suggests distribution is fading, with sellers expending more effort for diminishing downside results. The chart shared by the trader reinforces this view, showing price holding range support while underlying momentum trends higher.

From a structural perspective, this consolidation reflects absorption rather than weakness. Short-term participants are gradually replaced by longer-term holders, improving market stability. While a bullish divergence alone does not guarantee a return to all-time highs, it reopens that discussion in a technically credible way. A sustained breakout above the upper boundary of this multi-year range would be the key confirmation. Until that occurs, ATHs remain a conditional outcome—but the divergence signals that the groundwork for such a move may now be forming.

Macro Rotation And The Case For A  Delayed Altcoin Catch-Up The broader market context reinforces the significance of the trader’s weekly XRP analysis. Equities continue to reach record highs, metals are losing momentum, and the US dollar is falling—conditions that historically signal capital rotation. Yet, many altcoins, including XRP, remain sidelined in sentiment, largely overlooked after underperforming relative to newer narratives.

According to the crypto trader, this disconnect is notable: altcoins still trade well above bear-market lows, but cautious positioning creates the potential for asymmetric gains if capital rotates from crowded trades. The bullish divergence on XRP’s weekly chart does not guarantee an immediate rally or automatic return to all-time highs. However, it signals that structural groundwork for a larger move is forming.

If XRP can reclaim and break above the upper boundary of its multi-year range with conviction, the case for revisiting previous peaks becomes materially stronger. This setup reflects temporary frustration, not failure. Momentum is building, and while patience is required, the chart suggests the market is positioning correctly for a potential delayed catch-up in the altcoin sector.

Bears push price further down | Source: XRPUSDT on Tradingview.com Featured image created with Dall.E, chart from Tradingview.com

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Ledger expands Tezos support with Etherlink EVM rollout, enabling XTZ use, signing, wallets and upcoming staking.

Summary

Ledger expands Tezos support to Etherlink, enabling XTZ custody, transfers, swaps, and DeFi access. With Etherlink integration, Ledger users gain secure self-custody and upcoming native Tezos staking. Ledger Wallet now supports Etherlink DeFi, giving XTZ holders access to Curve, Uniswap, and more. Extended support for the Tezos ecosystem, building on the existing Tezos Layer 1 integration and extending it to Etherlink, is now available on LedgerTM signers and Ledger WalletTM, with Tezos’ EVM-compatible smart rollup. 

The integration brings full support for Etherlink and the tez (XTZ) token across Ledger’s ecosystem with Ledger signer integration, Ledger Wallet functionality, and upcoming native staking support.

Direct access to Etherlink DeFi and tokenized assets Ledger has supported Tezos delegation since 2019, with more than 10 million tez delegated via Ledger Wallet for voting power. The introduction of native staking promises to further improve participation from Ledger users in securing the Tezos network while unlocking opportunities for extra yield.

Following today’s announcement, Ledger users can also avail of Ledger’s tried-and-tested secure self-custody for their Etherlink-based XTZ and benefit from Clear Signing for tez transfers on Etherlink. Users of the network will now have the ability to send, receive, and manage their assets directly through Ledger Wallet’s desktop and mobile applications, including full account visualization with balance tracking and transaction history. The integration also provides swap functionality through Ledger Wallet.

Via Ledger Wallet, users will also be able to interact with the Etherlink DeFi ecosystem and have access to established protocols, including Curve, Morpho, and Uniswap, as well as emerging asset platforms like uranium.io, bringing tokenized physical uranium and other innovative assets directly into self-custody wallets.

Extended Ledger support for Tezos and Etherlink As staking becomes a core part of how users participate in blockchain networks, demand for secure, native staking under self-custody continues to grow. Users want to engage with emerging ecosystems without compromising on security. Governance and network security are core pillars for Tezos users, and extended Ledger support for Etherlink and native Tezos staking reflects user demand, bringing EVM compatibility and staking into a self-custody environment that users already trust.

“Uncompromising security is an essential for users of Tezos and Etherlink, and this made enhanced support in the Ledger ecosystem a top priority. With hardware-enforced clear signing for every Tezos and Etherlink transaction, users can confidently interact with DeFi knowing their assets are protected by Ledger’s uncompromising security,” said Charles Guillemet, CTO at Ledger.

The timing aligns with Etherlink’s explosive growth as enterprises seek alternatives to Ethereum’s high fees. With sub-second confirmation times and transaction costs under $0.01, Etherlink has emerged as the leading option for cost-conscious DeFi applications. Signer support is particularly appealing to institutions seeking secure solutions for managing their digital asset portfolios.

“This integration represents a significant step in making Tezos and Etherlink assets more accessible to users who prioritize security,” said Anthony Hayot, Head of DeFi Partnerships at Nomadic Labs. “With this Ledger integration, we’re ensuring that our ecosystem benefits from industry-leading hardware wallet protection while maintaining the seamless user experience that drives adoption.

Celebrating its 10 year anniversary in 2024, Ledger offers Digital Asset security for consumers and enterprises. Ledger offers connected devices and platforms, with more than 8m devices sold to consumers in 165+ countries and 10+ languages, 100+ financial institutions and commercial brands. Over 20% of the world’s crypto assets are secured by Ledger.

One of the world’s most respected offensive security teams, Ledger Donjon, is relied upon as a crucial resource for securing the world of Digital Assets. With over 14 billion dollars hacked, scammed or mismanaged in 2023 alone, Ledger’s security brings peace of mind and uncompromising self-custody to its community.

Tezos is an open-source and energy-efficient blockchain designed to empower institutions, developers, and businesses, and facilitate value transfer in a digital environment. It is designed for the scalable deployment of decentralized applications. As one of the first Proof of Stake blockchains, Tezos is globally supported and valued for its strong governance, long-term upgradability, and smart contract capabilities.

Etherlink is an EVM-compatible blockchain powered by Tezos Smart Rollups technology. It empowers developers to smoothly deploy any EVM codebase and migrate users and assets from Ethereum and other interoperable chains, enabling seamless interaction and asset transfers across different networks.

Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.

18h05 ▪ 4 min read ▪ by Lydie M.

Summarize this article with:

Tesla did not touch its bitcoin reserves in the fourth quarter of 2025. Yet, the company had to record a “digital assets” loss of about 239 million dollars after taxes, simply because the BTC price declined over the period.

In brief Tesla kept its 11,509 BTC in Q4 2025. The bitcoin decline over the quarter resulted in an accounting loss of about 239 M$ after taxes With the new rules, BTC volatility flows more directly into reported results. A stationary Bitcoin, a very mobile loss Tesla keeps 11,509 BTC. The number does not move. This amount appears in the company’s recent financial documents, with an acquisition cost stated at 386 million dollars. What moves is the valuation.

Over the quarter, the bitcoin decline triggered a loss entry from about 114,000 $ down to 88,000 $ over the period, hence the accounting charge. This point was revealed with the publication of Q4 and 2025 annual results, posted online on January 28, 2026, on Tesla’s Investor Relations site.

This is the kind of situation that always surprises the general public. Nothing was sold, nothing was bought, yet the income statement takes a hit. This is exactly where modern accounting for crypto-assets becomes a full-fledged player.

Since the adoption of the new crypto standard (ASU 2023-08), certain cryptos must be measured at fair value, with variations flowing into results every period. Tesla explicitly mentions this in its reports.

In other words, bitcoin’s volatility is more directly “plugged” into the financial statements. This does not necessarily tell a cash flow story. But, it tells a presentation story. The market, however, loves to confuse the two when pressed.

For its part, Tesla has even adjusted how it presents certain non-GAAP indicators by neutralizing gains and losses related to digital assets. The quarterly deck notes these adjustments and also recalls that 2024 periods have been “recast” after adopting the standard.

Why Tesla does not move a satoshi Keeping the same bitcoin stock despite an unfavorable quarter is not passivity. It’s a choice. Tesla shows it treats BTC as a strategic reserve, not as a trading line to arbitrage along the candles.

There is also a communication logic. Tesla knows that every move on bitcoin becomes a mini-world event. Doing nothing is sometimes the loudest decision. It avoids fueling panic or euphoria narratives.

Keeping a fixed position simplifies the message to investors. The debate shifts. Indeed, it is no longer about the timing of buying or selling. It is about the accounting framework and bitcoin’s role in a corporate treasury. And that, paradoxically, makes the subject more serious.

Even a company that does not touch its bitcoin can show a notable quarterly loss. This reinforces the idea that the results of companies exposed to BTC have become, in part, an indirect reading of volatility.

Moreover, “digital asset losses” are not necessarily an operational deterioration. Tesla’s revenues and margins have their own story. Bitcoin can add a layer of noise, sometimes very visible. Transparency improves. But volatility more clearly intrudes into the reported results. It must be assumed, and especially explained, or the market will make the comment for you.

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Lydie M.

Enseignante et ingénieure IT, Lydie découvre le Bitcoin en 2022 et plonge dans l’univers des cryptomonnaies. Elle vulgarise des sujets complexes, décrypte les enjeux du Web3 et défend une vision d’un futur numérique ouvert, inclusif et décentralisé.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

TL;DR

Partnership: Manta and Pruv Finance launch a compliant RWA collaboration centered on tokenizing sports infrastructure assets in Indonesia. $GSP Asset: The Garuda Sports Fund introduces revenue‑generating padel court investments, supported by strong performance metrics and on‑chain accessibility through Manta Pacific. Future Access: The network plans to issue tokens allowing users to acquire these RWAs and earn dividends from expanding padel facilities across Southeast Asia.
Manta has formalized a new partnership with Pruv Finance to introduce compliant real‑world asset investment opportunities directly into its ecosystem. Pruv Finance operates under approval from Indonesia’s OJK Sandbox, enabling it to tokenize and distribute regulated RWA products. The collaboration launches with the Garuda Sports Fund, a tokenized vehicle focused on financing padel courts and broader sports infrastructure across Indonesia, giving Manta users exposure to revenue‑generating assets through a fully compliant tokenization framework.

https://twitter.com/MantaNetwork/status/2016843872337613013

Launch of the Garuda Sports Fund The first asset introduced through this partnership is the Garuda Sports Fund, identified by the ticker $GSP. The fund supports the development, expansion, and operation of padel courts and wellness facilities throughout Indonesia. The network is directly investing in $GSP and has secured an exclusive three‑month arrangement beginning January 1, 2026. The initiative opens access to revenue‑producing RWA instruments through Pruv’s tokenization infrastructure, aligning on‑chain accessibility with real‑world performance.

Yield Rights and On‑Chain Integration Manta’s participation in $GSP grants exposure to dividend‑yielding rights from operational padel court facilities, including high‑performing locations in Jakarta generating roughly 30% ARR. These assets will be bridged to Manta Pacific, enabling seamless on‑chain access. Implementation relies on Special Purpose Vehicles that connect physical property titles with digital tokens, supporting fractional ownership and automated yield distribution. This structure ensures transparent, compliant, and efficient management of revenue‑backed RWA assets.

Padel’s Strong Unit Economics Garuda Sports Fund’s emphasis on padel courts reflects the sport’s compelling economics. A standard padel court requires only 200 square meters, allowing three courts to fit within the footprint of a single tennis court and significantly increasing revenue per square meter. The sport’s 92% retention rate accelerates returns, often achieving full payback within 12 to 16 months. Indonesia’s adoption has surged nearly 400% in under three years, contributing to global growth projected to exceed 81,000 courts by 2027.

Expanding RWA Access for Manta Users This partnership marks a meaningful step in connecting traditional revenue‑generating assets with blockchain infrastructure. Manta’s modular architecture supports efficient RWA distribution, while Pruv’s compliant framework provides regulatory stability. The collaboration positions Manta users to benefit from Southeast Asia’s expanding padel market through tokenized investment opportunities. Manta plans to issue tokens enabling community members to acquire these RWAs directly, earning proportional dividends from facility cash flows as additional details roll out soon.

Crypto analyst Luke has declared that an XRP price rally to $10,000 is not a prophecy, but one that can indeed happen. He shared a framework that breaks down the factors that could drive the altcoin’s rally toward this ambitious target. 

Analyst Shares Framework For XRP Price Rally To $10,000 In an X post, Luke stated that an XRP price target of $10,000 is ot a target or prophecy but a thought experiment. He further noted that Ripple is building the infrastructure that makes this outcome possible for the altcoin. The analyst then provided the “simple framework” on how XRP will reach this $10,000 price target.  

First, he predicted that the XRP price would reach between $10 and $25 when liquidity rotates, not because fundamentals had changed, but because attention had shifted. Luke stated that altcoin cycles still exist and that speculation still moves first. Furthermore, the analyst predicts that XRP will reach $100 once the altcoin is used rather than discussed. This utility will come in the form of repeatedly serving as the bridge currency for cross-border transactions.

When this happens, Luke believes that velocity begins to matter and that idle liquidity becomes a liability. The next part of the framework is the XRP price rally to $1,000, which the analyst stated will happen when financial infrastructure assumes XRP is there. In this phase, he envisions a scenario in which XRP becomes the backbone of global finance, with no workarounds or substitutes. 

Luke said that at this stage, the system relies heavily on XRP, as removing the altcoin would break the system. He added that the price will reflect dependency, not belief. The final part of the framework is the XRP price rally to $10,000, which he claimed would occur when global capital moves under pressure, prefunding fails at scale, and speed, certainty, and liquidity are non-negotiable. 

Another Pundit Shares XRP Thesis Crypto pundit BarriC, who has always predicted that the XRP price could reach $10,000, has shared his thesis on what will happen as the altcoin rallies to as high as $1 million. He stated that XRP at $2 equals retail speculation, while a $10 price target is early utility and liquidity growth. At $100 per XRP, the analyst believes that institutional usage will begin to matter. 

Furthermore, BarriC stated that large-scale settlements will reduce the required supply, with the XRP price at $1,000. Meanwhile, the analyst noted that fewer units will be needed to move massive value when the altcoin reaches $10,000. He also predicted that XRP could reach $1 million, noting that at this stage, efficiency will exceed abundance. 

At the time of writing, the XRP price is trading at around $1.86, down almost 2% in the last 24 hours, according to data from CoinMarketCap.

XRP trading at $1.88 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from Adobe Stock, chart from Tradingview.com

In partnership with Standard Chartered’s Zodia Custody, Dubai Insurance is the first insurer globally to issue a crypto wallet for its policy holders to transact with digital assets. Jan 29, 2026, 3:32 p.m.

Dubai Insurance became the first in its sector on a global scale to roll out a cryptocurrency wallet for its customers to handle claims and premiums, and transact digital assets.

The fourth-largest insurer in the United Arabs Emirates (UAE)said it developed the crypto wallet in partnership with Standard-Chartered-owned crypto custodian Zodia Custody, in an emailed announcement on Wednesday.

STORY CONTINUES BELOW

Dubai Insurance’s venture into digital assets comes as the UAE increasingly pushes forward the integration of digital assets into mainstream financial services and as traditional firms (TradFi) experiment with blockchain-based payments amid clearer rules for custody and compliance. It also comes months after the country enacted a new central bank law that brought digital assets and decentralized finance (DeFi) into traditional banking regulatory compliance, positioning the country as a global financial innovation hub.

While crypto wallets are increasingly common among TradFi firms such as PayPal Robinhood and Revolut, their adoption by a regulated insurer signals a deeper shift in how legacy financial institutions are testing onchain infrastructure for real-world transactions.

“By becoming the first insurance company to enable the receipt of premiums and payment of claims in digital assets through a secure digital wallet, we are redefining how insurance services are delivered while remaining firmly aligned with regulatory and governance frameworks,” said Abdellatif Abuqurah, CEO at Dubai Insurance.

The move by the UAE firm introduces a regulated infrastructure that allows policyholders to transact using digital assets, while ensuring high standards of security, governance, and transparency.

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Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.

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Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.

The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.

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Crypto custody firm Copper in early talks for IPO as crypto 'plumbing' becomes new Wall Street favorite

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The London-based custody provider is weighing a potential public listing, aiming to follow rival BitGo's recent IPO.

What to know:

Copper is evaluating a public listing, though a final decision will hinge on near-term revenue targets, according to sources.Goldman Sachs, Citi and Deutsche Bank are said to be among the investment banks potentially involved.The move follows the $2 billion IPO of competitor BitGo last week, signaling a market shift away from speculative tokens toward the financial plumbing of digital assets.

While XRP has continued to show weak price movements while trading sideways amid the broad crypto market downturn, bullish optimism regarding its future prospects still remains.

Despite the uncertainties surrounding the current market condition, pro-crypto advocate Bill Morgan has predicted a potential price surge for XRP in the coming months. 

XRP millionaires resurfaceBill Morgan made the forecast in response to on-chain data provided by Santiment, which shows that XRP holders with millions of tokens in their wallets are returning.

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Despite its early 2026 gains, XRP is now down by a modest 4% since the start of 2026. Regardless of the weak momentum, the number of wallets holding at least one million XRP has begun to rise for the first time since last September.

According to the data provided, a net total of 42 “millionaire” XRP wallets have reappeared on XRP Ledger since Jan. 1, indicating renewed confidence among large XRP holders.

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Furthermore, between Oct. 5 and Dec. 31, roughly 784 millionaire XRP wallets exited the network as prices trended lower, and many high-profile holders began to show caution during the market’s downturn. 

The massive reversal from XRP's large holders appear to have been largely fueled by the major Oct. 10 crash, which saw selling pressure largely play out among retail and institutional traders, even with other assets like Bitcoin.

XRP headed for potential recovery While XRP might still be trading in deep red territory, the resurfacing millionaires on the XRP Ledger suggests that the coming months may be better, as predicted by Bill Morgan.

With XRP seeing periodic corrections since the Oct. 10 crash, its recent price action appears to be seeing modest stability as large wallets are quietly returning to the market. 

Over the years, increases in high-value wallets like this have often preceded periods of bullish price performances, as investors tend to accumulate during consolidation rather than chase upside momentum. Hence, XRP may be headed for a gradual price recovery.

Bitcoin tumbles to 2026 low of $85,200 as gold reverses big gains, Microsoft leads Nasdaq lowerSoaring to $5,600 at one point earlier on Thursday, gold quickly pulled back to below the $5,200 level in U.S. morning trade.Updated Jan 29, 2026, 4:01 p.m. Published Jan 29, 2026, 3:39 p.m.

Bitcoin BTC$88,336.23 tumbled Thursday to its weakest level since mid-December, shedding nearly $3,000 within hours as gold's massive rally abruptly turned.

Soaring above $5,600 per ounce at one point Thursday (gold prior to Sunday night had never been above $5,000), gold in the space of a few minutes in morning U.S. trade plunged nearly 10% to back below $5,200.

STORY CONTINUES BELOW

The price action in silver followed a similar path, with that metal falling from $121 per ounce to $108.

Adding fuel to the selloff was Microsoft (MSFT), whose shares collapsed more than 11% — potentially their worst day since March 2020 — after the company reported slowing growth in its cloud business. The tech giant’s stumble dragged the Nasdaq lower by around 1.5%, deepening the risk-off tone.

Crypto markets followed suit. Trading above $88,000 earlier in the session, bitcoin fell precipitously to $85,200, its lowest level in more than a month. The largest crypto was down 4.5% over the past 24 hours.

Ethereum's ether ETH$2,961.90, Solana SOL$123.64, DOGE$0.1222 and ADA$0.3510 lost 5%-6% during the same period as altcoins were hit harder in the sell-off.

Looking at crypto stocks, the largest corporate bitcoin holder Strategy (MSTR) is down 8%, its worst day since Dec. 12, hitting 52-week lows and trading back at September 2024 levels.

Other names posting big losses include Bullish (BLSH), Twenty One Capital (XXI). Circle (CRCL) and Coinbase (COIN) — all down 4%-8%.

The S&P 500 Volatility Index has jumped more than 16% to 19, its second-highest level since the end of November, while the DXY index has rebounded to 96.6 from a Wednesday low of 95.5, also maybe putting renewed pressure on risk assets.

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Gold in 'extreme greed' sentiment as it adds entire bitcoin market cap in one day

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Bullion ripped past $5,500 and sentiment gauges hit “extreme greed,” while bitcoin stayed pinned below $90K — a split that’s getting harder to ignore.

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Gold’s surge above $5,500 an ounce has taken on the feel of a crowded trade, with its notional value jumping about $1.6 trillion in a single day.Sentiment gauges such as JM Bullion’s Gold Fear & Greed Index are signaling extreme bullishness in precious metals, even as similar crypto indicators remain stuck in fear.Bitcoin is lagging despite the “hard assets” narrative, trading like a high-beta risk asset while investors seeking a store of value are favoring physical gold and silver over digital tokens.

There may be a smaller percentage of lost BTC than previously anticipated. Older wallets have been reawakening, leading to corrections in the number of coins presumably lost. 

Lost BTC is discovered after years of holding, as 2025 was one of the years with peak shifts from old wallets. There are multiple reasons for this change in holding structure, from plain cashing out to wallet restructuring. One of the triggers was a hike above the $100K level, meaning even random buyers could sit on a life-changing amount. 

The move of BTC to new all-time highs reawakened multiple sources of BTC, from old miner wallets to Casascius coins. Based on HODL waves, distribution came from wallets aged 3-5 years, while more of the supply moved to the 7-10 year cohort.

Old BTC holders recovered coins considered lost As more wallets were tracked and labeled, there were fewer signs of coins lost beyond reach. Some cold wallets moved their coins due to custody restructuring, shifting to new types of addresses, or general consolidation of wallets. 

The other source of previously idle coins came from forgotten wallets, abandoned multisig wallets, custodian holdings, estates, and inheritances. Old miner wallets also moved coins, as well as OG whales, former exchange founders, and other early adopters. 

One of the reasons for moving coins was a dust attack with attached messages, warning about proof of ownership. While coins cannot be taken even from idle wallets, some users moved their holdings to a new, harder-to-trace address. Security and confidentiality were also a concern, as transparent addresses could encourage both digital and physical attacks. 

The dormant BTC does not even include the unlocking of the Mount Gox coins, which are still held by the liquidator. 

More coins move to older cohorts Following a record year of BTC distribution from old whale wallets, there was a total of 3,410,435.74 lost BTC that were idle for over a decade. Those include the early miner reserves and the blocks mined by Satoshi Nakamoto, all of which remain unspent. 

A total of 6,214,870.73 BTC have been idle since 2020, creating a sizeable cohort of relatively new buyers that are still holding. Older cohorts show occasional movements, which are tracked across wallets. For newer wallets, the reserves move more actively, with a smaller number of coins sitting idle for over 12 months. Newer buyers rely on active trading, instead of holding through price drawdowns. 

Newer wallets are not holding coins for long, with a smaller share of the supply sitting idle for over 12 months. | Source: MacroMicro The idle coins did not reawaken from ETF demand, which relied on OTC desks and specific trading venues, suggested Alphractal analyst Joao Wedson.

During the latest market cycles, older whales showed silent distribution, with no signs of capitulation. Some of the older holdings may have fueled the creation of treasuries. 

Long-term holding also raises the issue of BTC price strength. After losing the all-time high, some of the holders realized losses. For long-term wallets, however, the losses may be smaller, especially for coins previously considered lost.

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Bitcoin price fell sharply this morning, sliding to lows in the $84,000 range and extending a swift reversal from recent 24-hour highs above $90,000, as macro uncertainty and fragile market structure reasserted control.

The bitcoin price dropped to as low as $84,416, down roughly 6% over the past 24 hours if accounting for daily highs, according to Bitcoin Magazine Pro data.

The move came less than a day after bitcoin traded as high as $90,400, marking a rapid round-trip that underscored heightened volatility around this week’s Federal Reserve meeting.

Daily trading volume climbed to roughly $48 billion as the selloff accelerated, suggesting forced liquidations and short-term positioning unwind. Bitcoin’s total market capitalization fell to about $1.72 trillion, down approximately 4% on the day.

With unemployment at 4.4%, Powell emphasized labor market resilience and refrained from signaling urgency around easing policy — an outcome that proved unfriendly for speculative assets. 

For crypto markets that had rallied into the decision, the meeting quickly turned into a “sell the news” event.

Bitcoin price needs to hold $84,000 The reversal also came as bitcoin struggled to reclaim key technical levels. After briefly clearing $90,000, the bitcoin price failed to hold above resistance near $91,000, triggering renewed selling pressure. 

Analysts have flagged the $88,000 level as an important pivot for near-term stabilization, with $84,000 now emerging as critical downside support.

A sustained break below that level could expose deeper retracements toward the $72,000–$68,000 zone, according to Bitcoin Magazine analysts.

Bulls are expected to defend the $84,000 area aggressively to avoid a broader technical breakdown.

Meanwhile, Gold surged to new all-time highs above $5,550 per ounce this week, highlighting continued demand for hard assets amid currency uncertainty. Bitcoin initially appeared to benefit from similar tailwinds but failed to sustain momentum.

Next week, the White House will host banking and crypto executives on February 2 to discuss reviving stalled U.S. crypto legislation. 

The meeting, organized by the administration’s crypto council, will focus on contentious issues — especially how proposed rules would treat interest and rewards paid on dollar-pegged stablecoins — as the Trump administration seeks to broker a compromise after talks broke down.

At the time of writing, Bitcoin price is trading at $84,437, with a 24-hour trading volume of $48 billion.

The cryptocurrency is down 4% over the past 24 hours and is trading 6% below its seven-day high of $90,316. Bitcoin price is sitting at its seven-day low, down roughly 0% from the $85,417 level.

Micah Zimmerman

Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.