Precious Metals Continue Decline, Gold Falls Below $5,000, Silver Drops to $95

On-chain data as of January 30 shows the loan-to-value (LTV) ratio of the primary wallet of Bhutan’s sovereign wealth fund Druk Holdings on Aave briefly fell below 1.2, and is now reported at 1.22. Between January 19 and 20, an address linked to Bhutan’s sovereign wealth fund took a leveraged long position on ETH. As of press time, the address holds a total of 116,560 stETH, with an unrealized loss of approximately 15% relative to its cost basis. All of this stETH is currently deposited on Aave: the primary wallet holds 104,000 stETH (valued at roughly $2.84 billion) and has a loan amount of 200 million USDT. Additionally, an address associated with the Bhutanese government has just transferred 100.82 BTC (worth around $8.31 million) to QCP Capital’s address.

January 30 — Silver plunged 14.16% in a single day today, marking its second-largest historical drop, only behind the 1980 “Silver Thursday” crash when prices collapsed 50%-63% amid the Hunt Brothers’ manipulation unraveling. Renowned trader and chart analyst Peter Brandt — who correctly predicted the 2018 Bitcoin crash — flagged silver risks in a post yesterday. This morning, he doubled down on warnings about hype-fueled surge risks for the metal. He noted Comex trading volume this week hit 4.3 billion ounces, equal to 5.2 years of global silver production, which likely reflects miners hedging positions rather than purely demand-driven activity. Brandt emphasized mining firms will lock in profits at elevated prices, potentially spurring oversupply.

On January 30, blockchain analytics firm Onchain Lens reported that the Bhutanese government’s crypto address has transferred 100.82 BTC (valued at approximately $8.31 million) to QCP Capital’s address, with potential for additional transfers in the future.

Per official sources, Binance will launch trading of MEGA (MegaETH) perpetual contracts at 20:15 Beijing time on Jan. 30, with support for up to 5x leverage.

Onchain Lens data shows that as of January 30, Ethereum whale address "pension-usdt.eth" has opened a new 3x leveraged ETH short position—just days after netting $2.7 million from its last round of trades. Position details: - Quantity: 30,000 ETH - Value: $81.8 million - Entry price: $2,746 - Liquidation price: $3,713.44

On January 30, GMGN monitoring data reveals that Solana ecosystem meme coin ELON saw a sharp surge fueled by its listing on Bybit Spot. Its short-term market capitalization hit $15 million but failed to break its previous high, followed by a steep decline. Currently, ELON’s market cap stands at around $4.5 million, with a price of approximately $0.0045. On-chain data shows the average purchase cost for the top 100 addresses is roughly $0.0044. BlockBeats reminds users that meme coin trading is highly volatile, relying heavily on market sentiment and speculative hype with no actual value or use case. Investors should be aware of the risks.