Solana staking protocol Fragmetric completes $7 million seed round

On January 20th, on-chain analyst Yu Jin noted that Ethereum treasury firm FG Nexus sold 2,500 ETH four hours prior, valued at $8.04 million. Between August and September 2023, FG Nexus accumulated 50,770 ETH at an average price of $3,944, totaling $200 million. As ETH prices declined, the firm has liquidated 13,475 ETH at an average of $3,089, realizing a $11.52 million loss. It currently holds 37,594 ETH, worth $120 million. The company’s mNAV stands at 0.84, with its stock market value remaining below the value of its ETH holdings.

On January 20, Pump.fun announced the launch of Pump Fund—its new investment arm focused on fueling early-stage projects in its ecosystem through long-term partnerships. The fund’s debut initiative is a $3 million BiP Hackathon: it will invest $250,000 in 12 projects each (at a combined $10 million valuation) and provide selected teams with guidance from Pump.fun’s founding team plus additional support.

Jan 20th: Per alternative data sources, the cryptocurrency Fear & Greed Index fell to 32 today—down from 44 yesterday—while the weekly average stands at 26, signaling the market remains in "Fear" territory. Note: The Fear & Greed Index ranges from 0 to 100, incorporating the following metrics: Volatility (25%), Market Trading Volume (25%), Social Media Hype (15%), Market Sentiment (15%), Bitcoin Dominance (10%), and Google Trends Analysis (10%).

Tuesday, January 20 – Japan’s 40-year government bond yield rose 5.5 basis points to 4%, hitting a new high since its 2007 issuance and marking the country’s first time above that level in over three decades. The yield last crossed 4% in December 1995, when the 20-year bond yield reached the same threshold. The jump reflects a broader sell-off in Japanese bonds. Investors fear the government’s proposed food sales tax cut could widen a fiscal gap, deepening the market downturn. The Center Reform Alliance—comprising Japan’s largest opposition party and former ruling coalition members—has also proposed setting up a new government-linked fund to raise funds needed to slash the food sales tax to zero.

On January 20, monitoring by Emmett Gallic showed an address tied to Bhutan’s sovereign wealth fund Druk Holdings is running a leveraged long position on ETH: it withdrew 42,000 ETH and $54 million in USDT from Binance, swapped the USDT for ETH, deposited the ETH into Aave, and borrowed $275 million in USDT to buy more ETH. The current leveraged position holds ~117,000 ETH, worth roughly $459 million.

**January 20 – Citigroup Japan’s head of market business Akira Hoshino stated the Bank of Japan (BOJ) may raise interest rates three times this year if the yen remains weak, doubling its current rate level.** **If the USD/JPY exchange rate breaks 160, the BOJ could hike its unsecured overnight call rate by 25 basis points to 1% in April, Hoshino said in an interview.** **He noted a second 25bp rate hike is possible in July if the yen stays low, with a third hike potentially coming before year-end.** **“Negative real interest rates are driving the yen’s weakness,” Hoshino explained. “The BOJ has no choice but to address this if it wants to reverse the currency’s trend.”** **He currently forecasts the yen will trade in a range slightly below 150 to 165 this year. (Source: FXStreet)**